Indian pharma companies forecast 9-11% revenue growth in FY25, with stable outlook and steady operating margins.
Indian pharmaceutical companies are anticipated to achieve 9-11% revenue growth in FY25, down from 13-14% in FY24. Growth is expected from key markets: 9-11% from the US, 7-9% from Europe and domestically, and 11-13% from emerging markets. ICRA maintains a stable outlook for the sector, citing strong demand and robust credit profiles. Operating margins are projected to remain steady at 23-24%, supported by increases in complex generics and favorable raw material costs.
September 30, 2024
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