Sector analysis · India
Healthcare sector earnings growth, Q2 FY24
The 20 largest Healthcare companies by market cap at the end of Q2 FY24 (30 Sep 2023), compared with Q2 FY23.
The top 20 at Q2 FY24
Q2 FY24 vs Q2 FY23: combined net profit ₹10,474 cr (+19%), median EPS +18% (14 of 19 up), market-cap-weighted price +17%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Sun Pharmaceutical Industries Limited | 21.4% | 9.43 → 9.90 | +5% | +1.3 pp | +22% |
| 2 | Divi's Laboratories Limited | 7.7% | 18.59 → 13.11 | −29% | −1.7 pp | +2% |
| 3 | Cipla Limited | 7.4% | 9.78 → 14.01 | +43% | +3.9 pp | +6% |
| 4 | Dr. Reddy's Laboratories Limited | 7.2% | 13.39 → 17.77 | +33% | +4.2 pp | +29% |
| 5 | Apollo Hospitals Enterprise Limited | 5.7% | 14.19 → 16.20 | +14% | +0.3 pp | +17% |
| 6 | Mankind Pharma Limited | 5.5% | 10.48 → 12.51 | +19% | +0.9 pp | — |
| 7 | Torrent Pharmaceuticals Limited | 5.0% | 9.22 → 11.41 | +24% | +0.8 pp | +24% |
| 8 | Zydus Lifesciences Limited | 4.8% | 5.16 → 7.91 | +53% | +3.2 pp | +59% |
| 9 | Max Healthcare Institute Limited | 4.2% | 4.72 → 2.85 | −40% | −2.1 pp | +39% |
| 10 | Aurobindo Pharma Limited | 4.1% | 6.99 → 12.92 | +85% | +4.0 pp | +79% |
| 11 | Lupin Limited | 4.1% | 2.85 → 10.76 | +278% | +4.1 pp | +72% |
| 12 | Abbott India Limited | 3.8% | 124.95 → 147.27 | +18% | +0.5 pp | +21% |
| 13 | Alkem Lab | 3.3% | 27.67 → 51.90 | +88% | +3.3 pp | +10% |
| 14 | Accent Microcell | 2.9% | — → 8.01 | — one source | — | −17% |
| 15 | Biocon Limited | 2.5% | 0.39 → 1.05 | +169% | +0.9 pp | −6% |
| 16 | Syngene International Limited | 2.5% | 2.54 → 2.90 | +14% | +0.2 pp | +43% |
| 17 | Gland Pharma Limited | 2.1% | 14.65 → 11.78 | −20% | −0.5 pp | −20% |
| 18 | GlaxoSmithKline Pharmaceuticals Limited | 2.0% | 11.42 → 12.84 | +12% | +0.3 pp | +9% |
| 19 | Fortis Healthcare Limited | 2.0% | 2.71 → 2.30 | −15% | −0.3 pp | +29% |
| 20 | Glenmark Pharmaceuticals Limited | 1.9% | 9.88 → −2.90 | to loss one-off | −4.1 pp | +120% |
| Sector earnings growth | 100% | +19.1 pp |
Who joined and who left
0 joined and 0 left the top 20 since the previous quarter, as market caps moved.
Joined the top 20 since the previous quarter
Left the top 20 since the previous quarter
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% |
| 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% |
| APOLLOHOSP | +14% | +60% | +76% | +83% | +63% | +52% | +54% | +42% | +26% | +35% | +36% | +34% |
| MANKIND | +19% | +60% | +65% | +9% | +30% | −19% | −13% | −21% | −24% | +7% | +32% | +31% |
| TORNTPHARM | +24% | +57% | +56% | +21% | +17% | +14% | +11% | +20% | +30% | +26% | −22% | +3% |
| ZYDUSLIFE | +53% | +27% | sources disagree | +31% | +15% | +30% | sources disagree | +3% | +38% | +2% | sources disagree | −35% |
| MAXHEALTH | −40% | +30% | 0% | −2% | +2% | −17% | +27% | +30% | +74% | +26% | +7% | +5% |
| AUROPHARMA | +85% | +91% | +80% | +61% | +9% | −9% | 0% | −9% | +4% | +8% | +2% | +26% |
| LUPIN | +278% | +300% | +52% | +77% | +74% | +39% | +114% | +52% | +73% | +37% | +89% | +16% |
| ABBOTINDIA | +18% | +26% | +24% | +13% | +15% | +16% | +28% | +12% | +16% | +4% | +8% | +17% |
| ALKEM | +88% | +31% | +313% | +90% | +11% | +5% | +4% | +22% | +11% | +2% | −23% | −22% |
| ACCENTMIC | — | — | — | — | −14% | — | +3% | outside | outside | outside | outside | outside |
| BIOCON | +169% | turned profitable | −57% | +554% | to loss | −96% | +154% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| SYNGENE | +14% | +1% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| GLAND | −20% | −17% | +144% | −26% | outside | outside | outside | outside | outside | outside | outside | outside |
| GLAXO | +12% | −72% | +46% | +38% | +16% | +403% | +35% | +12% | +2% | +29% | +6% | outside |
| FORTIS | −15% | +3% | +35% | +49% | +1% | +84% | +3% | +57% | +83% | −22% | +44% | +2% |
| GLENMARK | to loss | outside | outside | +1,371% | turned profitable | turned profitable | turned profitable | −86% | +72% | +16% | sources disagree | +931% |