Pharmaceuticals industry
225 companies · ₹28.4 L cr · 77 with AI deep dives · Q1FY27 report
India above-IPM growth holds sector-wide; US patent cliffs and geopolitical costs pull margins 270bps off peak
- Revenue YoY
- +16.1%
- EBITDA margin
- 22.7%
- -120bps YoY
- Price, 1 year
- +15.0%
- 64% of names up
- P/E vs own 5y
- +40.5%
- 40.9x now
Exhibit 1The quarter in numbers
constant panel of 91 companies above ₹500 cr- Jun 26
- 1.26 L cr
- Mar 26
- 1.23 L cr
- QoQ
- +2.9%
- Jun 25
- 1.09 L cr
- YoY
- +16.1%
- Peak
- 1.26 L cr
- vs peak
- 0.0%
- Jun 26
- 22.7%
- Mar 26
- 23.7%
- QoQ
- -100bps
- Jun 25
- 23.9%
- YoY
- -120bps
- Peak
- 25.4%
- vs peak
- -270bps
Breadth: 88% of 97 companies grew revenue year on year (was 80% a quarter earlier) and 63% expanded margin (was 56%).
Exhibit 2What it costs
28.71x - 56x across the panel todayThe median name trades at 40.9x, +40.5% against this industry's own 5-year median of 29.1x, and +2.8% against its own peak of 39.8x.
Exhibit 3Structure
₹28.4 L crSun Pharmaceutical Industries Ltd is 16.3% of this industry by market cap. The top 5 are 39.7% and the top 10 are 57%.
Exhibit 4Screen
P/E below the sub-industry median of 40.9x, 5y ROCE above its median of 12.52%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 226)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹4.4 L cr
- P/E
- 37.0x
- EV/EBITDA
- 24.2x
- ROCE
- 17.9%
- Margin
- 31.2%
- Rev YoY
- +10.5%
- Mcap
- ₹1.9 L cr
- P/E
- 76.5x
- EV/EBITDA
- 46.6x
- ROCE
- 9.1%
- Margin
- 32.0%
- Rev YoY
- +54.8%
- Mcap
- ₹96,906 cr
- P/E
- 29.6x
- EV/EBITDA
- 13.2x
- ROCE
- 13.9%
- Margin
- 22.3%
- Rev YoY
- -5.5%
- Mcap
- ₹68,205 cr
- P/E
- 45.6x
- EV/EBITDA
- -
- ROCE
- 16.2%
- Margin
- 15.9%
- Rev YoY
- +23.1%
- Mcap
- ₹47,943 cr
- P/E
- 45.1x
- EV/EBITDA
- -
- ROCE
- 55.4%
- Margin
- 37.1%
- Rev YoY
- +16.5%
- Mcap
- ₹38,731 cr
- P/E
- 54.6x
- EV/EBITDA
- -
- ROCE
- 21.9%
- Margin
- 27.1%
- Rev YoY
- -4.8%
- Mcap
- ₹37,495 cr
- P/E
- 36.9x
- EV/EBITDA
- 21.0x
- ROCE
- 27.0%
- Margin
- 20.0%
- Rev YoY
- +22.8%
- Mcap
- ₹30,060 cr
- P/E
- 61.4x
- EV/EBITDA
- 50.0x
- ROCE
- 31.3%
- Margin
- 33.0%
- Rev YoY
- +119.1%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30India formulations growth of 13-19% was broad-based at all eight companies reporting India data this quarter. Sun Pharma's 5.4% volume growth compared to IPM's 2%; Torrent…
- SUNPHARMA (Q1FY27): “Sales of India formulations were INR54,749 million for the quarter, recording a growth of…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →AppendixThe other 201 companies
1-30- Mcap
- ₹20,920 cr
- P/E
- 31.7x
- EV/EBITDA
- 23.9x
- ROCE
- 23.1%
- Margin
- 38.1%
- Rev YoY
- +19.6%
- Mcap
- ₹18,225 cr
- P/E
- -
- EV/EBITDA
- 63.0x
- ROCE
- 0.4%
- Margin
- 21.5%
- Rev YoY
- +37.2%
- Mcap
- ₹16,942 cr
- P/E
- 101.0x
- EV/EBITDA
- -
- ROCE
- 23.2%
- Margin
- 12.4%
- Rev YoY
- +29.7%
- Mcap
- ₹15,931 cr
- P/E
- 23.2x
- EV/EBITDA
- 15.6x
- ROCE
- 12.8%
- Margin
- 14.8%
- Rev YoY
- +25.7%
- Mcap
- ₹12,217 cr
- P/E
- 40.7x
- EV/EBITDA
- 19.5x
- ROCE
- 12.0%
- Margin
- 14.1%
- Rev YoY
- +13.9%
- Mcap
- ₹10,930 cr
- P/E
- 18.2x
- EV/EBITDA
- 12.0x
- ROCE
- 21.0%
- Margin
- 21.9%
- Rev YoY
- +13.0%
- Mcap
- ₹9,314 cr
- P/E
- 35.6x
- EV/EBITDA
- -
- ROCE
- 77.0%
- Margin
- 37.2%
- Rev YoY
- +6.7%
- Mcap
- ₹6,782 cr
- P/E
- 51.2x
- EV/EBITDA
- 33.0x
- ROCE
- 16.9%
- Margin
- 31.7%
- Rev YoY
- +30.6%
171 more companies
This industry has 201 constituents beyond the covered names. The first page is free; premium opens the rest.
See plans →