Note: FY22 profit is depressed by a one-off Taro settlement/exceptional charge
Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Makes medicines for Indian and export markets and runs private hospitals in big cities. The group is a few percent of the index - smaller than its role in the economy.
Why it matters
Pharma is a defensive export earner; hospitals are one of the clearest structural growth stories as insurance coverage and incomes rise.
Where the value pool sits
Specialty and complex generics earn more than plain US generics, which face price erosion. Hospitals earn more per bed as they mature, so new beds dilute margins first.
Key drivers
Specialty drug launches in the US
GLP-1 (semaglutide) generics as patents expire in several markets
New hospital beds and rising revenue per bed
Potential bottlenecks
USFDA inspections of plants
Doctor and nurse supply for new hospital beds
Price control on essential drugs in India
Investor metrics to watch
US sales and new launches
USFDA inspection outcomes
Hospital occupancy and revenue per occupied bed (ARPOB)