Hospitals, CDMOs to lead pharma growth; generics face weak FY27, says JM Financials Amey Chalke

Indian healthcare is entering a new growth cycle, with hospitals and CDMO players expected to deliver strong 20% EBITDA CAGR, while large generic pharma companies may face earnings pressure by FY27, says JM Financials Amey Chalke. Despite tariff concerns, Indias pharma exports, China+1 momentum, and value-added product shift continue to provide strong structural tailwinds for the sector.