Akums Drugs and Pharmaceuticals: ICICI Securities Retains BUY Rating on Attractive Valuation, Export Growth Expected

Overview

ICICI Securities maintains a BUY rating on Akums Drugs and Pharmaceuticals, citing its attractive valuation despite Q2FY26 challenges like API pricing pressure and cost escalation. The company's CDMO business volumes are growing, with significant future potential from exports to Zambia and Europe. Analysts have trimmed EPS estimates but believe the stock's P/BV offers good value for its dominant position in Indian pharma manufacturing, setting a target price of INR 565.