OTHER GROUP COMPANIES
market

ICRA Year-end Sectoral Quote - Petrochemicals

The petrochemical sector exhibited strong demand growth for several products led by e-commerce, packaging, health and hygiene and FMCG

December 27, 2021 3:11 IST | India Infoline News Service
Deepak Jotwani, Assistant Vice President & Sector Head, ICRA Limited

Indian pharmaceutical companies are expected to report steady revenue growth of 9-11% in FY2022 and in FY2023. The revenues in FY2022 will be supported by growth of 13-15% in the domestic market, 14-16% in the emerging markets and 9-11% in the European business even as growth under the US business is expected to remain muted due to continuing pricing pressures.

Given healthy margins in H1 FY2022, full-year margins in FY2022 are expected to remain in line with FY2021 levels despite some contraction in H2 FY2022. However, Covid-19 cost savings tapering down coupled with headwinds such as pricing pressures and rising raw material costs are expected to result in margin contraction to pre-Covid levels in FY2023.

ICRA maintains its Stable outlook on the Indian pharmaceutical industry, emanating from steady earnings outlook in addition to comfortable credit profile and strong liquidity of major industry participants, despite higher capex and R&D expenses.

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity