ICRA maintains an overall stable outlook on the pharmaceutical industry, led by expectations of continued steady revenue growth and comfortable profit margins. It expects the sample set’s return indicators, capital structure, and coverage indicators to remain comfortable, despite higher capex and R&D expenses, which are likely to be partly funded through strong internal accrual generation and available surplus liquidity.
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» Pricing pressures, regulatory overhang affect margins of Indian pharma cos in FY2023: ICRA
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