Healthcare companies in India

The page splits the sector into three industries and lets the table be filtered by each. Pharmaceuticals & Biotechnology is the largest group by company count and covers formulation makers, active ingredient (API) makers, contract manufacturers and biotech firms. Healthcare Services covers hospitals, diagnostic labs and other healthcare service providers. Healthcare Equipment & Supplies covers makers of devices, implants, syringes and consumables. A company with several businesses is placed by the one that brings in more than half of its revenue.

Drug makers earn from two markets. In the domestic market, most medicines are sold under brand names through doctors and chemists, and the prices of drugs on the National List of Essential Medicines are capped by the National Pharmaceutical Pricing Authority under the Drug Prices Control Order, 2013. In export markets, the largest of them the United States, companies sell generics: copies of medicines whose patents have ended. Their earnings depend on how many generics compete on one molecule, on approvals from the US Food and Drug Administration, and on inspections of each plant.

Hospitals earn from beds, occupancy and the revenue per occupied bed, and growth comes mainly from adding beds. Diagnostics chains earn per test across collection centres. Device makers depend on hospital purchases.

Median P/E and median P/B take the middle company, so a few very large drug makers do not set them. P/E is market cap divided by the last four quarters' profit; P/B is market cap divided by net worth attributable to the company's own shareholders. ROCE is operating profit after depreciation, leaving out other income and one-off items, as a percentage of net worth plus borrowings. A company with no figure for a measure shows a dash and is left out of its median.

The charts show revenue growth and profit for the last 10 quarters, counting a quarter once at least 60% of the sector's companies have filed it.