Emcure Pharmaceuticals predicts its overseas operations will continue to be the primary growth driver in FY27, supported by a portfolio of differentiated drugs and steady product approvals across European and emerging markets, despite domestic market challenges.
Emcure Pharmaceuticals expects its overseas business to remain the main engine of growth in FY27, underpinned by a steady stream of product approvals and a portfolio it says is more specialised than the standard generics that face the most pricing pressure. Samit Mehta, the company’s chief operating officer, told Business Standard that international markets remain one of Emcure’s biggest drivers, even as the domestic business is expected to gather pace over the rest of the year.
The company said demand has stayed strong in foreign markets, particularly for Liposomal Amphotericin B in Europe, and it anticipates further approvals in more European countries as well as additional capacity. Emcure has also pointed to its broader formulations platform, which includes liposomal delivery systems and other specialised drug forms, as part of the reason it believes it can protect margins better than companies reliant on undifferentiated generic medicines. The management said highly differentiated products with limited competition continue to command stronger pricing, even as plain-vanilla generics come under pressure.
Growth outside India is increasingly expected to come from multiple markets rather than any single region, with an order book in antiretroviral, or ARV, products also seen as a support to sales. Company disclosures and brokerage commentary have highlighted strength in Europe, Canada and emerging markets, while Emcure has also talked up domestic areas such as cardio-diabetes, biologics and women’s health as it looks for a broader lift across its business.
The outlook comes after a strong start to the fiscal year. Emcure reported revenue from operations of ₹2,580.4 crore for the quarter ended June 2026, up 22.8% from ₹2,100.5 crore a year earlier, while net profit rose 49% to ₹293.9 crore from ₹196.9 crore. Despite that performance, the company said it is sticking with its full-year forecast of low- to mid-teen growth, saying it was too early in the year to revise guidance and that the first quarter did not include any one-off gains.
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