New Delhi, April 12 -- The Indian pharmaceutical and healthcare sector is expected to see moderate revenue growth, with EBITDA margins remaining flat, in the March quarter, according to a brokerage report by HDFC Securities. "We project sales/EBITDA growth of 11%/6% YoY for our coverage universe," the brokerage added.

The pharmaceutical companies are expected to see 10% YoY sales growth, driven by a 15% YoY increase in the India business. However, this growth will be offset by a 5% QoQ decline in the US formulations due to pricing pressures and the absence of gRevlimid sales. "EBITDA margins for the pharma segment are expected to come down (-110bps YoY), with an increase in input cost, price erosion in the US, absence of gRevlimid, stead...