Pharma Sector Q4 Earnings Preview - Tepid Growth On A Low Base: Prabhudas Lilladher
Bottles of tablets taken for random testing are displayed. (Photographer Hannelore Foerster/Bloomberg)

Pharma Sector Q4 Earnings Preview - Tepid Growth On A Low Base: Prabhudas Lilladher

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Prabhudas Lilladher Report

In our coverage universe, we expect pharmaceuticals companies to report revenue/Ebitda/profit before tax growth of 7%/44%/62% YoY in Q4 FY21, while diagnostic companies to report of growth of 45%/98%/129% YoY.

Both pharmaceuticals and diagnostic companies’ lost revenue of 15-20 days in Q4 FY20, due to lockdown restriction placed in the country.

Even with low revenue base pharmaceuticals companies’ growth is expected to be muted in Q4 FY21 as -

1. India formulations growth failed to reach normalized level given underperformance by few leading therapies (anti-infective, respiratory, derma) and

2. lack of launches in U.S. without new approvals, as U.S. Food and Drugs Administration inspectors had travel restrictions on visit of the overseas plants.

Click on the attachment to read the full report:

Prabhudas Lilladher Pharma Q4FY21 Results Preview.pdf

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