MarketFriction

Ipca Laboratories Ltd

NSE IPCALAB · BSE 524494 · Pharmaceuticals
₹1,943.20 +0.84%
NSE close2026-10-01
52 week range1,251.60 - 2,038.00
Market cap₹49,170 Cr.
P/E35.8
Nifty 500Midcap 150Nifty PharmaNifty Healthcare Index Price band 20% Delivery 57.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,0342,0532,0332,0932,3552,2452,2472,3092,5562,3922,3882,788
Expenses1,6731,7221,7111,7001,9131,7821,8181,8922,0121,8591,9052,119
Operating Profit361331322393441463429416545533484670
OPM %18%16%16%19%19%21%19%18%21%22%20%24%
Other Income-191-118212620-17933-30384825
Interest443329242317221920182012
Depreciation90100989910098100100103108107111
Profit before tax22528977290345368128331392446404572
Tax %39%23%96%31%29%25%49%29%28%18%24%26%
Net Profit136221119924627664233281364307424
EPS in Rs5.727.092.357.589.059.782.679.1911.1412.8611.7915.84
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,8673,1563,2583,7464,6195,3955,7976,2047,6628,8979,59910,126
Expenses2,5732,7052,8033,0513,7153,8434,4725,2726,3387,1667,6097,894
Operating Profit2944514556959041,5521,3259321,3241,7311,9902,232
OPM %10%14%14%19%20%29%23%15%17%19%21%22%
Other Income2111415665595412317-1148081
Interest3527282220121148141887969
Depreciation163173178182210209232262357398418429
Profit before tax1172622915467391,3891,1367458431,1311,5731,814
Tax %18%26%18%19%18%17%20%34%37%30%24%
Net Profit931952394426041,1418904795237851,1841,375
EPS in Rs3.697.719.4917.6023.9944.9434.8518.5821.5729.0844.9851.63
Dividend Payout %0%6%5%9%10%9%11%22%19%14%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth13%12%16%11%
Compounded Profit Growth30%1%37%54%
Stock Price CAGR21%10%27%45%
Return on Equity14%13%13%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital252525252525252525252525
Reserves2,1832,2342,4302,6633,0973,6024,6765,4675,8176,3076,9238,038
Borrowings9358677166284655012658071,4811,4381,363809
Other Liabilities6697657887999611,1301,0991,3381,3003,3263,4323,477
Total Liabilities3,8123,8923,9604,1164,5495,2586,0667,6378,62311,09711,74412,350
Fixed Assets1,8002,0141,9831,9531,9402,0592,0722,4182,7514,5544,2674,627
CWIP267129957366133235306140343622773
Investments162613687120310505989626862980844
Other Assets1,7291,7231,7462,0032,4222,7563,2543,9245,1055,3395,8756,106
Total Assets3,8123,8923,9604,1164,5495,2586,0667,6378,62311,09711,74412,350
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4687092823415015701,0908568069451,3211,142
Cash from Investing Activity-689-218-149-135-165-509-521-851-725-1,215-870-247
Cash from Financing Activity251-462-159-130-183-137-306427507-553-283-754
Net Cash Flow2929-2675153-76264432588-823169142
Free Cash Flow-207463147206322277731380347543551486
CFO/OP100%251%74%88%88%80%86%80%110%94%97%78%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days415758676671555758807777
Inventory Days293289290286316294337337276350336353
Days Payable9714513013715413514010183110111122
Cash Conversion Cycle237200218216228229251293251321302308
Working Capital Days68617480888810310271111101109
ROCE %14%5%9%10%16%19%31%20%11%13%15%17%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters46.29%46.29%46.30%46.30%46.30%44.72%44.72%44.72%44.72%44.72%44.72%44.72%
FIIs9.86%10.27%10.51%10.85%10.83%11.06%10.75%10.67%10.42%10.62%10.63%10.72%
DIIs34.72%34.19%34.05%33.46%33.90%35.36%35.73%35.88%36.45%36.99%37.13%37.04%
Government0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%
Public8.80%8.93%8.82%9.07%8.64%8.53%8.45%8.41%8.09%7.33%7.21%7.19%
No. of Shareholders95,93082,80981,16584,75382,97590,18988,30685,58282,87077,67382,18482,060

Fundamentals

Market Cap₹ 49,170 Cr.
Current Price₹ 1,938
Stock P/E35.8
Book Value₹ 318
ROCE17.0 %
ROE15.7 %
Dividend Yield0.31 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)54%
Consolidated figures.
Valuation
Market capRs 49,300 Cr
Enterprise valueRs 49,544 Cr
P/E (TTM)37.64x
Price to book6.11x
Price to sales4.87x
EV / EBITDA21.43x
EV / EBIT26.31x
EV / sales4.89x
Price to cash flow43.17x
Earnings yield2.66%
P/E, 3-year average48.20x
P/B, 3-year average5.16x
P/E, 5-year average43.76x
P/B, 5-year average4.78x
Profitability
Operating margin (excl. other income)20.73%
Operating margin (incl. other income)21.56%
EBITDA margin22.84%
Pre-tax margin17.92%
Net profit margin12.94%
Net margin, latest quarter14.41%
ROE15.20%
ROCE19.22%
ROA9.47%
ROE, 3-year average11.77%
ROCE, 3-year average15.80%
ROA, 3-year average7.16%
ROE, 5-year average12.19%
ROCE, 5-year average15.88%
ROA, 5-year average8.04%
ROIC (approx.)17.18%
Tax rate24.24%
Other income / net worth0.99%
Growth
Sales growth (latest year)7.89%
Profit growth (latest year)54.69%
Sales CAGR, 3 years15.66%
Sales CAGR, 5 years12.21%
Profit CAGR, 3 years34.28%
Profit CAGR, 5 years0.02%
Sales growth QoQ16.73%
Profit growth QoQ34.38%
Sales growth YoY (latest quarter)20.76%
Profit growth YoY (latest quarter)72.33%
Per share
EPS (TTM)Rs 51.63
EPS (latest year)Rs 44.98
EPS (latest quarter)Rs 15.84
EPS, 3-year averageRs 31.88
EPS, 5-year averageRs 29.81
Book value per shareRs 317.84
Sales per shareRs 399.11
Cash flow per shareRs 45.01
Free cash flow per shareRs 19.16
Dividend per share, 3-year averageRs 4.00
Dividend per share, 5-year averageRs 4.00
Dividends
Dividend payout, 3-year average16.15%
Dividend payout, 5-year average16.33%
Efficiency
Asset turnover0.78x
Fixed asset turnover2.07x
Inventory turnover1.47x
Inventory days248 days
Debtor days77 days
Debtors turnover4.77x
Creditor days122 days
Cash conversion cycle308 days
Working capital days109 days
Leverage
Total debtRs 809 Cr
Cash and bankRs 565 Cr
Net debtRs 244 Cr
Debt to equity0.10x
Net debt / EBITDA0.11x
Interest coverage27.17x
Current ratio (filing 2026-03-31)2.76x
Quick ratio (filing 2026-03-31)1.58x
Trade payables (filing 2026-03-31)Rs 940 Cr
Owners' fund to total sources65.30%
Debt to assets6.55%
Cash flow
Cash from Operating Activity (latest year)Rs 1,142 Cr
Cash from Investing Activity (latest year)Rs -247 Cr
Cash from Financing Activity (latest year)Rs -754 Cr
Net Cash Flow (latest year)Rs 142 Cr
Free cash flow (latest year)Rs 486 Cr
FCFE (approx.: FCF + change in debt)Rs -68 Cr
Cash from ops / profit, 5 years1.31x
Sales to cash flow8.41x
Statement figures
Net sales (TTM)Rs 10,126 Cr
Net sales (latest year)Rs 9,599 Cr
Sales (latest quarter)Rs 2,788 Cr
Operating profit excl. other income (latest year)Rs 1,990 Cr
Operating profit (latest quarter)Rs 670 Cr
Other income (TTM)Rs 81 Cr
EBITDA (TTM)Rs 2,312 Cr
PBDT (TTM)Rs 2,243 Cr
Profit before tax (TTM)Rs 1,814 Cr
Tax (latest year)Rs 381 Cr
Net profit (TTM)Rs 1,310 Cr
Net profit (latest year)Rs 1,141 Cr
Net profit (latest quarter)Rs 402 Cr
Depreciation (TTM)Rs 429 Cr
Depreciation (latest quarter)Rs 111 Cr
Interest (TTM)Rs 69 Cr
Cost of goods sold (latest year)Rs 4,025 Cr
Total expenditure (latest year)Rs 7,609 Cr
Total income (latest year)Rs 9,679 Cr
Share capitalRs 25 Cr
ReservesRs 8,038 Cr
Shareholders' fundsRs 8,064 Cr
Total assetsRs 12,350 Cr
Net blockRs 4,627 Cr
Capital work in progressRs 773 Cr
InvestmentsRs 844 Cr
ReceivablesRs 2,014 Cr
InventoryRs 2,731 Cr
Other liabilitiesRs 3,477 Cr
Shares outstanding (crore)25.37
Ownership
Promoter holding44.72% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 37.6 is at the 40th percentile of its own 9.4-year range (median 39.8, low 20.1, high 78.6).
P/B 6.11 is at the 83th percentile (median 5.05).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodIPCALABNifty 50Difference
1 week-2.7%-2.8% +0.1 pts
1 month-2.2%-6.8% +4.6 pts
3 months+9.2%-7.6% +16.9 pts
6 months+21.4%+0.4% +21.0 pts
1 year+43.9%-9.9% +53.8 pts
2 years+33.4%-13.6% +47.0 pts
3 years+107.7%+14.2% +93.5 pts
5 years+60.4%+27.9% +32.5 pts
147 mutual fund schemes hold about ₹15,607 Cr. Over three months 25 bought more and 29 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Mid Cap Fund3.30%3,576 -1%
Kotak Mid Cap Fund3.42%2,439 +1%
Axis Midcap Fund2.23%768 +1%
Nippon India Growth Mid Cap Fund1.17%612 -0%
DSP Midcap Fund2.70%568 -2%
Kotak Large & Mid Cap Fund1.54%499 +3%
HDFC Balanced Advantage Fund0.46%493 +6%
DSP Small Cap Fund2.02%437 +2%
Edelweiss Mid Cap Fund1.82%362 -5%
DSP Healthcare Fund8.73%335 -3%
HSBC Midcap Fund1.75%301 -5%
DSP Large & Mid Cap Fund1.54%284 -4%
HDFC Large & Mid Cap Fund0.92%278 +3%
Nippon India Pharma Fund2.84%270 +1%
UTI Flexi Cap Fund1.06%256 +5%
Nippon India Multi Cap Fund0.43%244 -2%
DSP ELSS Tax Saver Fund1.37%229 -17%
Franklin India Mid Cap Fund1.56%203 -29%
HSBC Small Cap Fund0.92%175 -1%
Axis Flexi Cap Fund1.18%165 +2%
Axis Flexi Cap Fund1.18%159 +2%
Quant Mid Cap Fund1.96%158 +100%
HDFC Children's Fund(Lock in)1.38%147 +5%
Kotak Aggressive Hybrid Fund1.39%128 +2%
Mirae Asset Healthcare Fund3.43%122 -3%

Red flags

F-score 8 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-02-16MANISH KUMAR JAIN-sell3,000Rs 0.44 CrMarket Sale
2025-08-22Pawan KothariEmployees/Designated Employesell2,220Rs 0.31 CrMarket Sale
2025-08-20Paschim Chemicals Private LimitedPromoter Groupother10,173,000Others
2025-08-20Mexin Medicaments Pvt. Ltd.Promoter Groupother14,058Others
2025-08-20Kaygee Investments Private LimitedPromoter Groupother10,187,058Others
2024-12-18Mrs. Usha M. Chandurkar-other4,000,000Rs 599.70 Cr-
2024-03-11Paschim Chemicals Private LimitedPromoter Groupbuy35,000Rs 4.20 CrMarket Purchase
2023-11-17Mr. Ajit Kumar JainAADPJ2602A-sell20,000Rs 2.16 CrMarket Sale
2022-09-15E J BABUOthersell2,000Rs 0.17 CrMarket Sale
2022-08-03Mrs. Usha ChandurkarPromoter Groupother4,000,000Others
2022-07-31Mrs. Usha ChandurkarPromoter Groupother302,000Others
2022-03-17Ajit Kumar JainDirectorsell20,000Rs 2.05 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹2,788 Cr +20.7% vs Jun 2025. Net profit ₹424 Cr +82.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-07Dividend - Rs 6 Per Share
2025-08-05Dividend - Rs 2 Per Share
2024-11-27Interim Dividend - Rs 2 Per Share
2024-08-06Annual General Meeting/Dividend - Rs 2 Per Share
2023-11-22Interim Dividend - Rs 2 Per Share
2022-11-22Interim Dividend - Rs 4 Per Share
2022-08-03Annual General Meeting
2022-01-10Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share0.5000
2021-11-22 Interim Dividend - Rs 8 Per Share
2021-08-26 Annual General Meeting
2020-11-13 Interim Dividend - Rs 8 Per Share
2020-09-10 Annual General Meeting
2020-02-18 Interim Dividend - Rs 5 Per Share
2019-08-06 Annual General Meeting/Dividend - Rs 3 Per Share
2018-08-02 Annual General Meeting/Dividend- Re 1 Per Share
2017-07-27 Annual General Meeting/Dividend - Re 1/- Per Share
2016-08-04 Annual General Meeting
2015-07-22Annual General Meeting / Dividend - Re 1/- Per Share
2014-07-18Annual General Meeting / Final Dividend - Rs 2.50/- Per Share
2013-10-31Interim Dividend Rs.2.50 Per Share (Purpose Revised)
2013-07-19Annual General Meeting/Dividend Rs 2/- Per Share
2012-11-01Interim Dividend
2012-07-20Annual General Meeting/ Dividend Rs 1.20 Per Share
2012-02-072nd Interim Dividend Re.1/- Per Share (Purpose Revised)
2011-11-03Interim Dividend Re.1/- Per Share (Purpose Revised)
2011-07-18Annual General Meeting And Dividend Rs.1.20 Per Share
2011-02-012nd Interim Dividend-Re.1/- Per Share (Purpose Revised)
2010-10-28Interim Dividend-Re.1/- Per Share (Purpose Revised)
2010-07-16Annual General Meeting And Final Dividend Re.1/- Per Share
2010-03-22Fv Split Rs.10 To Rs.20.2000
2010-01-272nd Int Div-Rs.4/- Pr Shrpurpose Revised
2009-10-30Int Div-Rs.5/- Per Share Purpose Revised
2009-07-20Agm/Div-Rs.4/- Per Share
2009-01-272nd Interim Dividend-30% Purpose Revised
2008-11-07Interim Dividend - 40% Purpose Revised
2008-07-14Agm/Dividend - 45%
2007-11-06Interim Dividend-35% Purpose Revised
2007-07-10Agm/Final Dividend-40%
2006-11-02Interim Dividend-35% Purpose Revised
2006-07-18Agm/Div-Rs.3/- Per Sh
DateTypeWhat it says
2026-08-17Concall / analyst meetTranscript
2026-08-14Concall / analyst meetLink of Recording
2026-08-14Shareholder meetingVoting results.
2026-08-13Shareholder meetingProceedings of Annual General Meeting held on August 13, 2026
2026-08-13Board meeting outcomeIPCA Laboratories Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-06Concall / analyst meetSchedule of meet
2026-07-17Updates.Intimation to non-email cases regarding weblink of Annual Report
2026-07-14Record DateRecord date for the purpose of Dividend is 07-Aug-2026.
2026-07-14Shareholder meetingNotice of Annual General Meeting to be held on August 13, 2026
2026-07-14UpdatesBusiness Responsibility and & Sustainability Report.
2026-07-07Credit RatingCredit Rating
2026-06-26Amalgamation/MergerAmalgamation/Merger
2026-06-26Board meeting outcomeOutcome of Board Meeting held on Jun 26, 2026.
2026-06-12Press ReleaseA press release dated Jun 12, 2026, titled "Licensing agreement granting Ipca access to BRLs proprietary high-concentration subcutaneous biologics del...
2026-06-04Concall / analyst meetTranscript
2026-06-01Concall / analyst meetLink of Recording
2026-06-01UpdatesRevised Link for q4FY26 Conference Call to be held today.
2026-05-29DividendBoard of Directors at its meeting held on May 29, 2026, recommended Final Dividend of Rs. 6 per equity share.
2026-05-29AppointmentRe-appointment of Mr Mr. Prashant Godha as Executive Director of the company w.e.f. August 16, 2026.
2026-05-29Board meeting outcomeIPCA Laboratories Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-21Concall / analyst meetSchedule of meet
2026-04-10Disclosure under SEBI TakeovKaygee Investments Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of I...
2026-02-18Concall / analyst meetTranscript
2026-02-16Concall / analyst meetLink of Recording
2026-02-13Board meeting outcomeIPCA Laboratories Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2019-02-06CESTATIPCA LABORATORIES LTD ---VS.--- UJJAIN
2017-09-19CESTATC.C.E. INDORE ---VS.--- IPCA LABORATORIES LTD
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Ipca Laboratories Ltd?

Ipca Laboratories Ltd (IPCALAB) has a market capitalisation of Rs 49,170 Cr. at the 2026-10-01 close.

What is the P/E ratio of Ipca Laboratories Ltd?

Ipca Laboratories Ltd trades at a P/E of 35.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Ipca Laboratories Ltd's latest quarterly results?

In the Jun 2026 quarter, Ipca Laboratories Ltd sales was Rs 2,788 Cr (+20.7% vs Jun 2025) and net profit was Rs 424 Cr.

What is the 52-week high and low of Ipca Laboratories Ltd?

The 52-week high is Rs 2,038.00 and the 52-week low is Rs 1,251.60.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03