External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>The India Pharma &amp; Healthcare sector is expected to maintain its growth momentum in Q2FY25E</li><li>We project sales/EBITDA growth of 11%/15% YoY for our coverage universe</li><li>Our assumptions are: (1) Pharma coverage is expected to see 11% YoY sales growth, driven by a 12% YoY increase in the India business, offset by a ~5% QoQ decline in the US</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The India Pharma &amp; Healthcare sector is expected to maintain its growth momentum in Q2FY25EWe project sales/EBITDA growth of 11%/15% YoY for our coverage universeOur assumptions are: (1) Pharma coverage is expected to see 11% YoY sales growth, driven by a 12% YoY increase in the India business, offset by a ~5% QoQ decline in the USContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

<ul><li>Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control initiatives</li><li>It continues to focus on the 125cc segment, with capacity increased from 25k units per month to 40k per month to cater to the demand for Xtreme 125R</li><li>With better consumer sentiment aided by marriage dates and the onset of the festive season, a significant recovery is expected in the rural segment</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control initiativesIt continues to focus on the 125cc segment, with capacity increased from 25k units per month to 40k per month to cater to the demand for Xtreme 125RWith better consumer sentiment aided by marriage dates and the onset of the festive season, a significant recovery is expected in the rural segmentContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

<ul><li>India’s healthcare sector is poised for growth, with an expected steady 11-12% CAGR over the next five years, led by favourable macroeconomic factors such as healthcare infrastructure and a structural shift towards an organised market</li><li>Within this healthcare landscape: (1) the hospital segment has already undergone the CAPEX phase (added bed capacity over FY14-19)</li><li>It is now in the execution phase, focusing on improving occupancy and ARPOB^, translating into a better margin</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India’s healthcare sector is poised for growth, with an expected steady 11-12% CAGR over the next five years, led by favourable macroeconomic factors such as healthcare infrastructure and a structural shift towards an organised marketWithin this healthcare landscape: (1) the hospital segment has already undergone the CAPEX phase (added bed capacity over FY14-19)It is now in the execution phase, focusing on improving occupancy and ARPOB^, translating into a better marginContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthcare: Strong Position, Long Runway for Growth

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Apollo Hospitals Enterprise / Equity Bottom-Up

<ul><li>Apollo is one of the leading integrated healthcare service provider with avenues like hospitals, pharmacies, primary care &amp; diagnostic clinics</li><li>Apollo reported in line results but it was skewed with hospitals lagging our expectations while pharmacies were a beat on our estimates</li><li>Target Price and Valuation: We value Apollo at Rs 5480 based on SOTP valuation.</li></ul><div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>

Apollo is one of the leading integrated healthcare service provider with avenues like hospitals, pharmacies, primary care &amp; diagnostic clinicsApollo reported in line results but it was skewed with hospitals lagging our expectations while pharmacies were a beat on our estimatesTarget Price and Valuation: We value Apollo at Rs 5480 based on SOTP valuation.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Apollo Hospitals: In Line Quarter; Numbers Trend Pre-Covid Level

India

Apollo Hospitals Enterprise Limited owns and operates hospitals in India.  The Company also runs a 24-hour pharmacy network via over 120 outlets across India. Apollo Hospitals also runs clinics and offer managed care and family health plans. The Company has a variety of locations in Chennai, Hyderabad, Delhi, Dubai, Vizag, Bilaspur and Chengannur.

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Apollo Hospitals Enterprise (APHS IN)

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

The India Pharma & Healthcare sector is expected to maintain its growth momentum in Q2FY25E. We project sales/EBITDA growth of 11%/15% YoY for our...

HDFC Securities

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control...

HDFC Securities

Healthcare: Strong Position, Long Runway for Growth

India’s healthcare sector is poised for growth, with an expected steady 11-12% CAGR over the next five years, led by favourable macroeconomic...

HDFC Securities

Apollo Hospitals: In Line Quarter; Numbers Trend Pre-Covid Level

Apollo Health & Lifestyle runs the largest chain of standardised primary healthcare models, multi-specialty clinics under the brand: Apollo Clinics...

ICICI Securities Limited

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