Copyright thehindubusinessline
Pharma major Biocon is set to announce its quarterly results on November 11, with analysts expecting a mixed performance across segments. According to Axis Securities Equity Research, the Biosimilars division is likely to be the key growth driver, with an estimated 18 per cent year-on-year (y-o-y) revenue increase. The segment’s momentum is expected to be fuelled by new launches such as Insulin Aspart (Yesafili), Denosumab biosimilars, and Liraglutide in the UK. Axis expects gross and EBITDA margins to improve sequentially, supported by a more favourable product mix. Broader sector trends also point to a steady quarter. HDFC Securities said it expects the pharma and healthcare sector to see stable revenue growth but flat EBITDA margins, projecting 11 per cent y-o-y sales growth and 12 per cent y-o-y EBITDA growth for its coverage universe. For India operations, growth is likely to moderate to 10 per cent y-o-y , partly due to GST-related disruptions in September 2025, while US formulations may remain flattish amid pricing pressure in the base business. Sharekhan estimates Biocon’s Q2 revenue at ₹4,057 crore and profit after tax (PAT) at ₹122 crore. Axis, in an earlier report, said management expects FY26 to deliver strong double-digit revenue growth, led by sustained momentum in Biosimilars, margin recovery in Generics from the second half, and steady expansion in the Contract Research, Development and Manufacturing (CRDMO) segment. Subsidiary Syngene is also positioned for sustained double-digit growth, backed by strong client demand, new capacity additions in India, and entry into the US biologics CDMO market through its Bayview facility. Published on November 2, 2025
