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Fitch Ratings in its latest report said that Indian pharmaceutical companies' sales will rise after a gradual easing of the coronavirus pandemic-related lockdown measures that caused disruptions across most markets in Q1 (April-June) of FY21. It said this will underpin profitability in the quarter ending September even after normalisation in costs following cuts in Q1 that helped to support profitability despite the impact of the coronavirus.
According to the report, travel restrictions to contain the pandemic reduced the number of doctor visits and hospitals prioritised Covid-19 treatment over other elective procedures. It noted that these affected prescriptions and drug sales volume, particularly those used to treat acute medical conditions with the monthly volume drop varying from high single digits to mid-double digits across markets. Nonetheless, it said resilient sales in chronic segments and active pharma ingredients (API) -- for companies with in-house manufacturing -- limited the overall impact.
Fitch further said some of the indirect costs like travel and marketing costs that were low due to the lockdown measures are likely to return to normal in line with the gradual easing of restrictions since May and June. Nonetheless, it said the gradual easing has led to a rise in doctor visits and elective procedures since May in key markets. It added that this will benefit sales, particularly in acute therapy areas, and support profitability in Q2, notwithstanding the uncertainty over the duration and impact of the pandemic for the rest of FY21.
| Company Name | CMP |
|---|---|
| TCS | 3834.95 |
| Infosys | 1409.70 |
| HCL Tech. | 1441.40 |
| Wipro | 448.50 |
| Tech Mahindra | 1188.45 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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