[Full report here](https://mailcontent.icicidirect.com/mailcontent/idirect_sakarhealthcare_coupdate_sep2026.pdf) Investment Rationale • Long term prospects remain robust: Going ahead, timely approvals of Marketing
Authorisations (currently ~25 vs 16 in Q1FY27) besides manufacturing & commercialisation of ~9-10 products for Accord-Intas (potential revenues ~₹50-100 crore) across Europe is expected to drive growth. As for non-oncology business, existing CMO/CDMO contracts with players like Zydus, Emcure, Glenmark, Cipla etc. for domestic and deemed exports besides export of Sakarin/Heparin (blood thinner) and Cephalosporin (anti-biotic) drugs around the globe are expected to support the growth. On the margins front, we believe improved efficiency, economies of scale across oncology drugs as well as benefits emanating from backward integration have started to materialise. Overall, the management has maintained an aspirational revenues target of ~₹300 crore for oncology business
