Steady raw material prices and higher volumes are expected to support margins, while credit profiles remain stable.
After growing 10 per cent in the last financial year, the pharmaceutical sector is projected to expand 8-10 per cent in this financial year and 9-11 per cent in the next, led by sustained overseas demand, particularly for formulations, and steady domestic demand. The international market, accounting for 53 per cent of the industry's revenue, surged 13 per cent in FY24 (in rupee terms) and is projected to grow 10-12 per cent in FY25 and 11-13 per cent in the next. This growth is driven by new product launches, better pricing, and diversification into untapped markets.
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