Lupin, Zydus Lifesciences Among DRChoksey’s Top Picks As Pharma Sector Braces For Q3 — Check Full List

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DRChoksey Report

DRChoksey expects the pharma sector to deliver a steady performance in Q3 FY26, with revenue for its coverage universe estimated at Rs 64,452.5 crore, up 3.7% YoY.

Ebitda is projected to rise 11.4% YoY to Rs 14,714 crore, supported by margin expansion to 22.8%, driven by a favorable mix, operating leverage, and cost efficiencies.

Adjusted PAT is expected to grow 14.7% YoY to Rs 11,959.9 crore.

Key outperformers:

• Lupin (Buy, target price Rs 2,404) – Strong U.S. complex generics momentum and upcoming launches position Lupin for above-average growth and sustained profitability.

• Zydus Lifesciences (Buy, target price Rs 1,121) – Growth visibility supported by specialty-led launches and disciplined execution.

Other notable picks include Alembic Pharma (Buy) and Glenmark Pharma (Buy), which are expected to benefit from specialty optionality and margin improvement over the medium term.

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