Sector analysis · India
Healthcare sector earnings growth, Q1 FY27
The 20 largest Healthcare companies by market cap at the end of Q1 FY27 (30 Jun 2026), compared with Q1 FY26.
The top 20 at Q1 FY27
Q1 FY27 vs Q1 FY26: combined net profit ₹13,524 cr (+4%), median EPS +17% (14 of 19 up), market-cap-weighted price +9%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Sun Pharmaceutical Industries Limited | 20.3% | 9.50 → 12.06 | +27% | +4.8 pp | +11% |
| 2 | Divi's Laboratories Limited | 7.9% | 20.53 → 33.98 | +66% one source | +2.8 pp | −3% |
| 3 | Torrent Pharmaceuticals Limited | 7.1% | 16.19 → 16.72 | +3% | +0.1 pp | +36% |
| 4 | Apollo Hospitals Enterprise Limited | 5.7% | 30.10 → 40.39 | +34% one source | +1.1 pp | +20% |
| 5 | Cipla Limited | 5.4% | 16.06 → 9.77 | −39% | −3.9 pp | −3% |
| 6 | Dr. Reddy's Laboratories Limited | 5.2% | 16.99 → 5.32 | −69% | −7.5 pp | +6% |
| 7 | Zydus Lifesciences Limited | 5.1% | 14.58 → 9.42 | −35% | −4.1 pp | +13% |
| 8 | Lupin Limited | 5.0% | 26.69 → 30.95 | +16% | +1.5 pp | +25% |
| 9 | Max Healthcare Institute Limited | 5.0% | 3.17 → 3.32 | +5% one source | +0.1 pp | −12% |
| 10 | Mankind Pharma Limited | 4.8% | 10.62 → 13.90 | +31% | +1.1 pp | +10% |
| 11 | Aurobindo Pharma Limited | 4.1% | 14.20 → 17.95 | +26% | +1.6 pp | +39% |
| 12 | Laurus Labs | 3.7% | 3.02 → 6.80 | +125% | +1.6 pp | +109% |
| 13 | Fortis Healthcare Limited | 3.3% | 3.45 → 3.53 | +2% one source | 0.0 pp | +20% |
| 14 | Biocon Limited | 3.1% | — → 0.87 | sources disagree one source | — | +17% |
| 15 | Alkem Lab | 3.0% | 55.56 → 43.49 | −22% one source | −1.1 pp | +13% |
| 16 | Glenmark Pharmaceuticals Limited | 2.8% | 1.66 → 17.11 | +931% | +3.4 pp | +26% |
| 17 | Abbott India Limited | 2.5% | 172.18 → 201.66 | +17% | +0.5 pp | −29% |
| 18 | Anthem Biosciences Limited | 2.0% | 2.42 → 2.13 | −12% one source | −0.1 pp | — |
| 19 | IPCA Laboratories Limited | 2.0% | 9.19 → 15.84 | +72% | +1.3 pp | +22% |
| 20 | Ajanta Pharma Limited | 1.9% | 20.44 → 26.75 | +31% one source | +0.6 pp | +33% |
| Sector earnings growth | 100% | +3.7 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 FY26, as market caps moved.
Joined the top 20 since Q4 FY26
Left the top 20 since Q4 FY26
- GlaxoSmithKline Pharmaceuticals Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | +5% | +17% | +34% | +40% | +28% | +15% | −19% | −20% | +3% | +16% | +26% | +27% |
| DIVISLAB | −29% | +17% | +68% | +21% | +47% | +64% | +23% | +27% | +35% | −1% | +13% | +66% |
| TORNTPHARM | +24% | +57% | +56% | +21% | +17% | +14% | +11% | +20% | +30% | +26% | −22% | +3% |
| APOLLOHOSP | +14% | +60% | +76% | +83% | +63% | +52% | +54% | +42% | +26% | +35% | +36% | +34% |
| CIPLA | +43% | +32% | +79% | +18% | +15% | +49% | +30% | +10% | +4% | −57% | −55% | −39% |
| DRREDDY | +33% | +11% | +36% | −1% | −15% | +2% | +22% | +2% | +7% | −14% | −86% | −69% |
| ZYDUSLIFE | +53% | +27% | sources disagree | +31% | +15% | +30% | sources disagree | +3% | +38% | +2% | sources disagree | −35% |
| LUPIN | +278% | +300% | +52% | +77% | +74% | +39% | +114% | +52% | +73% | +37% | +89% | +16% |
| MAXHEALTH | −40% | +30% | 0% | −2% | +2% | −17% | +27% | +30% | +74% | +26% | +7% | +5% |
| MANKIND | +19% | +60% | +65% | +9% | +30% | −19% | −13% | −21% | −24% | +7% | +32% | +31% |
| AUROPHARMA | +85% | +91% | +80% | +61% | +9% | −9% | 0% | −9% | +4% | +8% | +2% | +26% |
| LAURUSLABS | outside | outside | outside | outside | outside | outside | outside | +1,213% | +876% | +173% | +19% | +125% |
| FORTIS | −15% | +3% | +35% | +49% | +1% | +84% | +3% | +57% | +83% | −22% | +44% | +2% |
| BIOCON | +169% | turned profitable | −57% | +554% | to loss | −96% | +154% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| ALKEM | +88% | +31% | +313% | +90% | +11% | +5% | +4% | +22% | +11% | +2% | −23% | −22% |
| GLENMARK | to loss | outside | outside | +1,371% | turned profitable | turned profitable | turned profitable | −86% | +72% | +16% | sources disagree | +931% |
| ABBOTINDIA | +18% | +26% | +24% | +13% | +15% | +16% | +28% | +12% | +16% | +4% | +8% | +17% |
| ANTHEM | outside | outside | outside | outside | outside | outside | outside | outside | +1% | −28% | +54% | −12% |
| IPCALAB | outside | +64% | −22% | outside | +58% | +38% | +14% | outside | outside | outside | +342% | +72% |
| AJANTPHARM | outside | outside | outside | outside | +12% | +12% | outside | outside | outside | outside | outside | +31% |