1. Gland Pharma:
Motilal Oswal maintains a ‘Buy’ rating on this pharma company with a target price of Rs 2,340, an upside of 21%. The company posted a 50% YoY rise in net profit in Q1FY26 after declining for four straight quarters. The growth was driven by strong performance from Cenexi, its unit that makes germ-free injectable medicines. Analysts Tushar Manudhane and Eshita Jain expect earnings to grow further in H2, backed by a healthy order book and lower downtime.
The company is expanding its range by adding biologics contract manufacturing, with Cenexi handling finished medicines and Gland’s facilities making the drug ingredients. Analysts expect sales in this segment to grow 12% annually over FY26-27, backed by its product pipeline and production capacity.
Gland Pharma is strengthening its position in the complex injectable market through its own product development and partnerships. It is also expanding capacity to meet demand for upcoming GLP-1 drugs (for diabetes and weight loss). Manudhane and Jain expect its revenue to grow 14% and net profit 27% annually over FY26-27.
2. G R Infraprojects:
Axis Direct reiterates its ‘Buy’ rating on this roads & highways developer with a target price of Rs 1,540, a 24.5% upside. In Q1FY26, the company’s revenue dropped 4% YoY as many projects were still in early stages. With most of them now approved to start, the executable order book stands at Rs 15,000 crore. These projects are expected to be completed within two years, likely lifting revenue by about 13% annually in FY26-27.
For FY26, G R Infra targets an order inflow of Rs 22,000 crore, of which Rs 2,500 crore came in Q1. Analysts Uttam Srimal and Shikha Doshi highlight that besides road projects, the company has expanded into railways, ropeways, optical fibre, multi-modal logistic parks, and power transmission. This diversification reduces its reliance on roads and allows it to operate in different infrastructure areas, benefiting from expected growth in the sector.
The company’s management mentioned receiving Rs 40 crore as dividend and interest from Bharat Highways InvIT, a road projects trust. They expect Rs 230-240 crore from this source during the year, which will help boost profits.
3. Ajax Engineering:
ICICI Securities maintains a ‘Buy’ rating on this commercial vehicles company with a target price of Rs 900, a 25.1% upside. In Q1FY26, the company’s revenue and volumes were flat YoY at Rs 466 crore and 1,196 units, respectively. Self-loading concrete mixer (SLCM) sales stood at Rs 380 crore, flat YoY. Performance was impacted due to early monsoons and discounts by competitors on older construction equipment vehicle (CEV-IV) models.
Analysts Mohit Kumar and Mahesh Patil highlight India's shift to stricter CEV-V emission norms from July 2025. Ajax sold 90% CEV-V models in Q1 without any price hikes, causing the EBITDA margin to fall to 13.2% from 17.1% last year. Analysts expect margins to remain under pressure in FY26, with margin compression of 150–200 bps despite an estimated price hike of 4% in H2FY26.
The company plans a price hike in H2FY26 and will commission its fourth plant later this year. It targets low double-digit revenue growth in FY26, backed by strong market share (75% in SLCMs), product upgrades, and new equipment lines.
4. Zydus Wellness:
Sharekhan maintains a ‘Buy’ rating on this packaged foods company with a target price of Rs 2,304, an 18.7% upside. Analysts note that the company posted a soft Q1FY26 performance with revenue up just 2.4% YoY and operating profit margin down 43 bps. Net profit fell 13.4% to Rs 128 crore due to seasonal weakness from shorter summers and unseasonal rains. Non-seasonal brands, including Ritebite Max Protein, Everyuth and Nutralite, posted double-digit growth.
Management said rural markets outpaced urban growth, with tier-2 and tier-3 cities driving expansion, supported by branded commodities, personal care and dairy segments. Zydus’ direct reach stood at ~6.2 lakh outlets, with plans to add 80,000 in FY26. The company retained market leadership in core brands: Everyuth Scrubs (48.7% share), Sugar Free (96.1%), and Glucon-D (58.9%).
The company expects double-digit revenue growth in FY26, aided by distribution expansion and easing input costs. The analysts anticipate revenue and net profit to grow at a CAGR of 12% and 20% over FY26-27.
5. Eris Lifesciences:
Prabhudas Lilladhar maintains a ‘Buy’ rating on this pharma company with a target price of Rs 1,975, a 17.6% upside. In Q1FY26, its revenue rose 7.4% YoY to Rs 770 crore, led by sharp growth in domestic formulations. Sales from the Swiss Parenterals segment fell 7% due to insulin shortages, which reduced revenue by Rs 10 crore. Net profit rose 41% to Rs 120 crore, aided by lower interest costs.
Analysts Param Desai and Kushal Shah expect revenue growth to pick up in the coming quarters as insulin supply stabilises, exports improve, and market share increases in the human insulin segment. The company maintains its FY26 revenue growth guidance of 15-20%. Key growth drivers include resolving insulin supply issues, gaining market share in human insulin, and expanding the dermatology and GLP-1 portfolios.
Management sees a Rs 2,000 crore annual revenue opportunity from Novo Nordisk’s exit from the human insulin cartridge market in India, with cartridge production at its Bhopal facility set to begin in Q4FY26. The company has confirmed Rs 1,000 crore in annual contract development and manufacturing organisation (CDMO) contracts starting FY27 and targets Rs 10,000 crore in international sales by FY29.
Note: These recommendations are from various analysts and are not recommendations by Trendlyne.
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