Latest news with #Vohra
Mint
2 days ago
- Business
- Mint
IT sector not broken, but evolving, says TRUST MF's CIO Mihir Vohra; shares top sectoral bets
Mihir Vora, CIO, TRUST Mutual Fund, believes that the Indian stock market could step out of its consolidation zone once global volatility subsides and investor focus returns to earnings. Meanwhile, Vohra remains unperturbed by the ongoing FII selloff, as DII support and SIP inflows bolster confidence in equity demand. He is bullish on select sectors like infrastructure, logistics, and defence suppliers, NBFCs, among others. Edited excerpts: The Nifty has been churning in a tight band for several weeks. The domestic and global macroeconomic and geopolitical setup has many moving parts, and markets are probably waiting for a reduction in uncertainty. Globally, US trade negotiations are still on, and the US Dollar continues to be weak in spite of high bond yields. Domestically, the long-term macro parameters are healthy – low inflation, improving current account deficit and fiscal deficit. Consumption indicators are a mixed bag, and credit growth has not yet picked up in spite of ample liquidity and rate cuts. In the short term, the earnings season has seen a mix of negative and positive surprises. Sustained earnings growth remains key for the market. If global volatility subsides and investor focus returns to domestic earnings, that could be enough to lift sentiment. Clarity on a U.S.–India trade agreement by the August 1 deadline can also be a catalyst. Foreign portfolio investors have turned cautious again — derivative positioning suggests the most bearish sentiment in months. That may continue until we get clear signals on U.S. Fed policy or trade developments. In the medium to long-term, if the US Dollar continues to remain relatively weak, we should see sustained flows to countries like India. We see FPI selling as cyclical rather than structural. In time, India's superior long-term macro, demographics and higher growth should bring global interest back. India also has a strong internal support system: domestic institutions remain net buyers, and record retail SIP flows continue to underpin demand. Overall, we have an underweight stance in the IT sector. We are tackling the sector exposure selectively, preferring midcap IT names and digital infra providers with stronger growth visibility, rather than overcrowded large caps. Even within the blue-chips, firms executing well on AI/automation and client-based cost takeout remain interesting. The sector isn't broken — it's just evolving. While the leading IT giants delivered subdued numbers — flat revenues, soft global deal wins — valuations are now trading closer to historical norms than early 2024 extremes. Our growth conviction remains highest in capex, power transmission, infrastructure logistics, and defence suppliers—segments with visible order books, operating leverage, and a longer runway of growth. However, we are selective as these segments have become quite popular and valuations are not uniformly attractive. Financials offer opportunities in NBFCs and banks, with expectations of improving credit growth and asset quality. Auto ancillaries and engineering services/export plays are also showing promise as the global capex cycle recovers. In healthcare, the stories are more stock-specific, and we like the CDMO space and hospitals. After sharp rallies in many names, investors have started booking profits. The pullback is a natural consolidation, not a capitulation. The long-term fundamentals — rising defence budgets, dual-use platform opportunities, and improving export arcs — remain intact. Stock selection is critical now. We favour robust balance sheets, clear execution histories, and firms with pipeline visibility. Yes, we launched our third equity fund, the Multicap Fund. This continues our efforts to offer funds in all the core categories to our investors and distributors, the first two being the Flexi Cap and Small Cap funds. The Multicap category is a core category and is suitable for most investors who want a diversified exposure to the stock market. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
5 days ago
- Business
- Economic Times
Cipla targets $1 bn US revenue in FY27
Mumbai: Cipla aims to achieve $1 billion sales in the US by the next fiscal year, driven by the products it has lined up for launch which the Indian drug maker expects will more than compensate for the imminent patent expiry and price erosion on cancer drug Revlimid.'We believe our pipeline should get us closer to the target (of $1 billion) or surpass that by FY27, depending on the launch timing,' managing director and global chief executive Umang Vohra said over an investor call on Friday.'We have plans for all our launches that are coming in to make up for the revenue losses for Revlimid and that will happen in the short to medium term,' he added. The US remains a very attractive market for Cipla. 'We see it as a growth market over the next 3-5 years,' he said. A generic version of Revlimid (lenalidomide) is one of Cipla's top-selling products in the US. As part of an out of court settlement, Cipla manufactures and markets the drug in the US. Analysts said the expiry of the drug's patent is expected to significantly impact Cipla through a reduction in revenue and potential margin pressure. Cipla has a robust pipeline for the US business with respiratory generic Advair closer to commercialisation and is also preparing for launch of generic Symbicort and a couple of inhalation products. It also plans to launch 2–3 peptide assets in monetisation of these launches remains critical for the company to offset the lenalidomide generic sales erosion, according to a report by broking firm sees the respiratory segment and new product launches lined up in the category to be the biggest opportunity for Cipla in the next 12 months. 'We have 3-4 launches coming up for the US alone, we have several coming up for emerging markets and several for India,' he told potential US tariffs on the pharma sector, Vohra said he does not see it having a 'debilitating effect'. There will be an impact, but it will not derail the business, he company on Friday reported a 10% year-on-year increase in consolidated net profit to Rs 1,298 crore for the first quarter ended June. Revenue rose 4% to Rs 6,957 crore and Ebitda was 25.6% of the revenue, the company stated in a filing with stock India business delivered growth of 6% year-on-year, topping Rs 3,000 crore for the first time ever in a quarter, contributing 44% to the total from North America was $226 million (about Rs 1,955 crore) supported by traction in differentiated assets. It launched two generic oncology products in the US in the past quarter: nano paclitaxel vials and nilotinib capsules.'This performance builds on a strong prior year-on-year quarter where we achieved our highest ever US generics revenue,' said the company has signed an agreement to launch its first biosimilar product in the US that is expected in Q2 FY26.'We will in-license a few assets through partnerships in the near term and maybe launch our own biosimilar assets around 2029-2030,' Vohra company is betting big on GLP-1, which controls sugar levels and appetite, and sees it as a 'significant growth driver for its business.''For us the entire GLP 1 category is important rather than looking at individual categories within that. It will shape up in a manner depending on pipeline assets,' said Vohra. Cipla aims to be among the first wave of launchers for the drugs. The company plans to have a hybrid strategy including having its own products as well as through partnerships.
Time of India
5 days ago
- Business
- Time of India
Cipla targets $1 bn US revenue in FY27
Mumbai: Cipla aims to achieve $1 billion sales in the US by the next fiscal year, driven by the products it has lined up for launch which the Indian drug maker expects will more than compensate for the imminent patent expiry and price erosion on cancer drug Revlimid. 'We believe our pipeline should get us closer to the target (of $1 billion) or surpass that by FY27, depending on the launch timing,' managing director and global chief executive Umang Vohra said over an investor call on Friday. Explore courses from Top Institutes in Please select course: Select a Course Category Management others Finance Technology MBA Degree PGDM Cybersecurity Project Management Data Science CXO Digital Marketing Design Thinking Product Management healthcare Operations Management Data Science Leadership Data Analytics Public Policy MCA Others Artificial Intelligence Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details 'We have plans for all our launches that are coming in to make up for the revenue losses for Revlimid and that will happen in the short to medium term,' he added. The US remains a very attractive market for Cipla. 'We see it as a growth market over the next 3-5 years,' he said. A generic version of Revlimid (lenalidomide) is one of Cipla's top-selling products in the US. As part of an out of court settlement, Cipla manufactures and markets the drug in the US. Analysts said the expiry of the drug's patent is expected to significantly impact Cipla through a reduction in revenue and potential margin pressure. Cipla has a robust pipeline for the US business with respiratory generic Advair closer to commercialisation and is also preparing for launch of generic Symbicort and a couple of inhalation products. It also plans to launch 2–3 peptide assets in FY26. Timely monetisation of these launches remains critical for the company to offset the lenalidomide generic sales erosion, according to a report by broking firm IIFL. Vohra sees the respiratory segment and new product launches lined up in the category to be the biggest opportunity for Cipla in the next 12 months. 'We have 3-4 launches coming up for the US alone, we have several coming up for emerging markets and several for India,' he told ET. About potential US tariffs on the pharma sector, Vohra said he does not see it having a 'debilitating effect'. There will be an impact, but it will not derail the business, he said. The company on Friday reported a 10% year-on-year increase in consolidated net profit to Rs 1,298 crore for the first quarter ended June. Revenue rose 4% to Rs 6,957 crore and Ebitda was 25.6% of the revenue, the company stated in a filing with stock exchanges. Its India business delivered growth of 6% year-on-year, topping Rs 3,000 crore for the first time ever in a quarter, contributing 44% to the total revenue. Revenue from North America was $226 million (about Rs 1,955 crore) supported by traction in differentiated assets. It launched two generic oncology products in the US in the past quarter: nano paclitaxel vials and nilotinib capsules. 'This performance builds on a strong prior year-on-year quarter where we achieved our highest ever US generics revenue,' said Vohra. Meanwhile, the company has signed an agreement to launch its first biosimilar product in the US that is expected in Q2 FY26. 'We will in-license a few assets through partnerships in the near term and maybe launch our own biosimilar assets around 2029-2030,' Vohra said. The company is betting big on GLP-1, which controls sugar levels and appetite, and sees it as a 'significant growth driver for its business.' 'For us the entire GLP 1 category is important rather than looking at individual categories within that. It will shape up in a manner depending on pipeline assets,' said Vohra. Cipla aims to be among the first wave of launchers for the drugs. The company plans to have a hybrid strategy including having its own products as well as through partnerships.
Mint
5 days ago
- Business
- Mint
Cipla sees weight-loss drugs as the biggest opportunity in the Indian market
Drugmaker Cipla Ltd anticipates GLP-1 drugs, used for treating type-2 diabetes and obesity, to be a definite new therapy in the Indian market, and is exploring a wider foray, said chief executive Umang Vohra. 'The Indian market is particularly important to us, where we're looking at the whole GLP-1 category and not just Semaglutide alone,' Vohra told reporters in a media interaction on Friday after the company declared its June-quarter results. Semaglutide, a GLP-1 (glucagon-like peptide-1) drug sold under the brand name Wegovy in India by Novo Nordisk, goes off patent in March 2026. 'Our overall thinking is this is going to be pretty definitive in terms of a new therapy, in terms of a new section of the market and an opportunity that will be probably the biggest that we've seen in the last five years,' said Vohra. 'We're trying to evolve a strategy on what would make the most economic sense for us in this category.' The company also plans to launch Semaglutide in other markets where it goes off patent, although Vohra declined to name specific markets. Cipla will file to commercialize the product with partners as well as on its own, in what Vohra called a 'combination strategy'. 'We're going to be perhaps making two filings in some of the markets that are of importance across the world,' he said. The patent for Semaglutide is expiring in countries such as India, Canada, and Brazil in 2026. Cipla's first-quarter profit after tax (PAT) beat estimates, while its revenue was a miss. The company reported a PAT of ₹ 1,298 crore, up 10% year-on-year, against ₹ 1,198.5 crore, estimated by a Bloomberg poll of 22 brokerages. At ₹ 6,957 crore, its consolidated revenue increased 4% on-year but missed Bloomberg estimates of ₹ 7,057 crore. The company reported an Ebitda of ₹ 1,778 crore, up 4% on-year, with its Ebitda margin remaining steady on-year at 25.6%. Ebitda stands for earnings before interest, taxes, depreciation, and amortization. 'Underlying this performance has been the numbers from the One India business, which grew overall at 6% and within that, we've seen a higher growth from our [trade] generics and consumer healthcare business,' said Vohra, adding that branded prescription growth was lower on account of a muted season for acute therapies. The company reported $226 million in revenue from its North America business during the quarter, a drop of 9.6% from the previous year's revenue of $250 million. The North American business accounts for 28% of Cipla's revenues. 'This is in the range that we had guided at the beginning of this quarter…We've had two new launches, and our launch momentum hopes to continue as the rest of the year pans out,' Vohra said. While uncertainty over tariffs and regulatory shifts in the US continues, Vohra said Cipla's business is already significantly derisked. 'Fortunately or unfortunately, because of our facility issues that we've had in the last three years, due to citations at our sites, we had already started de-risking our business. And we built new facilities in the US,' he said. Vohra said while the firm expects some impact from US policy changes, it won't be a debilitating effect that will 'derail the way we've thought about our business'. Cipla also faces price erosion on blood cancer drug Revlimid and Lanreotide, used to treat neuroendocrine tumours, in the US this year. However, Vohra believes that the company has a product pipeline that will continue to drive growth over the next three to five years. Cipla's share price closed at ₹ 1,535.00 on Friday on National Stock Exchange, up 3.17%.
Mint
5 days ago
- Business
- Mint
Cipla Q1 PAT rises 10 pc to ₹1,298 cr; income at ₹6,957 cr
New Delhi, Jul 25 (PTI) Drug major Cipla on Friday reported a 10 per cent increase in its consolidated profit after tax to ₹ 1,298 crore for the first quarter ended June 30, 2025, aided by robust sales growth in India, Europe, and Africa. The company had posted a profit after tax (PAT) of ₹ 1,178 crore for the April-June quarter of the previous fiscal. Total Income from operations rose to ₹ 6,957 crore for the June quarter as compared with ₹ 6,694 crore in the year-ago period, Cipla said in a statement. Cipla MD and Global CEO Umang Vohra said the company's One-India business grew at 6 per cent year-on-year during the quarter. Key therapies in the branded prescription business continued to outpace the market growth, trade generics business growth trajectory is back on track and anchor brands of consumer health business maintained leadership position, Vohra stated. "Going ahead, the focus will be on growing our key markets, further building our flagship brands, investing in future pipeline as well as focusing on resolutions on the regulatory front," Vohra said. The company said its sales in the Indian market rose to ₹ 3,070 crore for the first quarter, an increase of 6 per cent as compared with ₹ 2,898 crore in the year-ago period. North America sales declined 7 per cent year-on-year to ₹ 1,933 crore for the June quarter. Emerging markets and Europe saw sales at ₹ 861 crore for the first quarter, a growth of 11 per cent as against ₹ 779 crore in the year-ago period.
