Sector analysis · India
Healthcare sector earnings growth, Q1 FY25
The 20 largest Healthcare companies by market cap at the end of Q1 FY25 (30 Jun 2024), compared with Q1 FY24.
The top 20 at Q1 FY25
Q1 FY25 vs Q1 FY24: combined net profit ₹12,982 cr (+38%), median EPS +31% (16 of 19 up), market-cap-weighted price +40%. 19 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Sun Pharmaceutical Industries Limited | 21.3% | 8.43 → 11.82 | +40% | +8.6 pp | +45% |
| 2 | Divi's Laboratories Limited | 7.1% | 13.41 → 16.20 | +21% | +0.8 pp | +28% |
| 3 | Cipla Limited | 7.0% | 12.33 → 14.58 | +18% | +1.9 pp | +46% |
| 4 | Zydus Lifesciences Limited | 6.3% | 10.74 → 14.11 | +31% | +3.5 pp | +83% |
| 5 | Dr. Reddy's Laboratories Limited | 6.2% | 16.87 → 16.69 | −1% | −0.1 pp | +24% |
| 6 | Torrent Pharmaceuticals Limited | 5.5% | 11.17 → 13.50 | +21% | +0.8 pp | +47% |
| 7 | Max Healthcare Institute Limited | 5.3% | 2.47 → 2.43 | −2% | 0.0 pp | +57% |
| 8 | Apollo Hospitals Enterprise Limited | 5.2% | 11.59 → 21.23 | +83% | +1.5 pp | +21% |
| 9 | Mankind Pharma Limited | 5.0% | 12.34 → 13.39 | +9% | +0.4 pp | +25% |
| 10 | Lupin Limited | 4.3% | 9.94 → 17.58 | +77% | +3.7 pp | +80% |
| 11 | Aurobindo Pharma Limited | 4.1% | 9.74 → 15.69 | +61% | +3.7 pp | +66% |
| 12 | Alkem Lab | 3.5% | 23.98 → 45.60 | +90% | +2.7 pp | +42% |
| 13 | Abbott India Limited | 3.4% | 136.59 → 154.36 | +13% | +0.4 pp | +18% |
| 14 | Accent Microcell | 2.9% | — | — | — | +44% |
| 15 | GlaxoSmithKline Pharmaceuticals Limited | 2.6% | 7.81 → 10.76 | +38% | +0.5 pp | +86% |
| 16 | Biocon Limited | 2.5% | 0.84 → 5.49 | +554% | +5.9 pp | +32% |
| 17 | Fortis Healthcare Limited | 2.1% | 1.48 → 2.20 | +49% | +0.6 pp | +51% |
| 18 | Global Health Limited | 2.0% | 3.80 → 3.96 | +4% | 0.0 pp | +99% |
| 19 | Glenmark Pharmaceuticals Limited | 2.0% | 0.82 → 12.06 | +1,371% | +3.4 pp | +82% |
| 20 | Gland Pharma Limited | 1.8% | 11.79 → 8.73 | −26% | −0.5 pp | +72% |
| Sector earnings growth | 100% | +38.0 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 FY24, as market caps moved.
Joined the top 20 since Q4 FY24
Left the top 20 since Q4 FY24
- IPCA Laboratories 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% |
| CIPLA | +43% | +32% | +79% | +18% | +15% | +49% | +30% | +10% | +4% | −57% | −55% | −39% |
| ZYDUSLIFE | +53% | +27% | sources disagree | +31% | +15% | +30% | sources disagree | +3% | +38% | +2% | sources disagree | −35% |
| DRREDDY | +33% | +11% | +36% | −1% | −15% | +2% | +22% | +2% | +7% | −14% | −86% | −69% |
| TORNTPHARM | +24% | +57% | +56% | +21% | +17% | +14% | +11% | +20% | +30% | +26% | −22% | +3% |
| MAXHEALTH | −40% | +30% | 0% | −2% | +2% | −17% | +27% | +30% | +74% | +26% | +7% | +5% |
| 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% |
| LUPIN | +278% | +300% | +52% | +77% | +74% | +39% | +114% | +52% | +73% | +37% | +89% | +16% |
| AUROPHARMA | +85% | +91% | +80% | +61% | +9% | −9% | 0% | −9% | +4% | +8% | +2% | +26% |
| ALKEM | +88% | +31% | +313% | +90% | +11% | +5% | +4% | +22% | +11% | +2% | −23% | −22% |
| ABBOTINDIA | +18% | +26% | +24% | +13% | +15% | +16% | +28% | +12% | +16% | +4% | +8% | +17% |
| ACCENTMIC | — | — | — | — | −14% | — | +3% | outside | outside | outside | outside | outside |
| GLAXO | +12% | −72% | +46% | +38% | +16% | +403% | +35% | +12% | +2% | +29% | +6% | outside |
| BIOCON | +169% | turned profitable | −57% | +554% | to loss | −96% | +154% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| FORTIS | −15% | +3% | +35% | +49% | +1% | +84% | +3% | +57% | +83% | −22% | +44% | +2% |
| MEDANTA | outside | outside | +26% | +4% | outside | outside | outside | outside | outside | outside | outside | outside |
| GLENMARK | to loss | outside | outside | +1,371% | turned profitable | turned profitable | turned profitable | −86% | +72% | +16% | sources disagree | +931% |
| GLAND | −20% | −17% | +144% | −26% | outside | outside | outside | outside | outside | outside | outside | outside |