• The revenue growth of ICRA’s sample set of companies in the domestic market is estimated at 13-15% in FY2027, aided by the launch of Glucagon-Like Peptide-1 (GLP-1) drugs, price rises and other new product launches. In Q1 FY2027, sample set revenues from the domestic market grew by 18.6% supported by acquired businesses, market share gains for some players in chronic therapies, price increases and new product introductions. 
• Volume growth (1.9% YoY) for the domestic pharma industry also recovered during the quarter after three years of weakness and is expected to sustain through FY2027.
  

Exhibit : Trend in revenues and OPM*