MarketFriction

Morepen Laboratories Ltd

NSE MOREPENLAB · BSE 500288 · Pharmaceuticals
₹133.72 +6.14%
NSE close2026-10-01
52 week range33.05 - 128.10
Market cap₹6,510 Cr.
P/E55.4
ASM long-term Price band 10% Delivery 20.5%

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
Sales422445423455438453466425412484485570
Expenses388394375404394417424401381438460488
Operating Profit345148524436422431462483
OPM %8%11%11%11%10%8%9%6%7%10%5%14%
Other Income3443555430485
Interest021111544445
Depreciation8810625169111068
Profit before tax294442484635261646352375
Tax %26%27%32%25%24%24%21%26%10%22%33%24%
Net Profit213229363527201141281656
EPS in Rs0.420.630.550.710.640.490.370.200.750.500.291.03
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4855956077698531,1881,5471,4181,6901,8121,8061,951
Expenses4245345427017851,0701,4101,3381,5321,6381,6801,767
Operating Profit626165686911913780159174126184
OPM %13%10%11%9%8%10%9%6%9%10%7%9%
Other Income-344491210614184748
Interest1084222-72481617
Depreciation353434403730282833293636
Profit before tax13243029399912756135155120179
Tax %-1%0%0%1%14%1%20%31%29%24%20%
Net Profit132430293497102399711896141
EPS in Rs0.280.530.660.640.752.162.130.761.882.151.732.57
Dividend Payout %0%0%0%0%0%0%0%0%0%9%12%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth14%9%8%9%
Compounded Profit Growth14%-8%18%27%
Stock Price CAGR18%16%47%147%
Return on Equity12%10%9%5%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9090909090909096102102110110
Reserves78911061361631943354836517451,0471,137
Borrowings20118716913413213317192529105208
Other Liabilities121156173226230246416473332417517482
Total Liabilities4895245385866156638581,0701,1101,2931,7781,936
Fixed Assets322297272264236216225252267307489513
CWIP00000021417242822
Investments000001100185124
Other Assets1672272663213794466318048279601,1761,277
Total Assets4895245385866156638581,0701,1101,2931,7781,936
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity51504163171151-60-91733233
Cash from Investing Activity-32-27-14-27-13-12-70-32-47-83-322-126
Cash from Financing Activity-19-27-24-38-054766144530097
Net Cash Flow-0-43-14428-266-5104
Free Cash Flow464131376-610-127-137-8-182-127
CFO/OP105%81%66%98%26%25%44%-26%-94%70%40%46%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days516657736459565968706567
Inventory Days555165766991829687859488
Days Payable126140125173124113989087101114103
Cash Conversion Cycle-20-23-3-24937406569544553
Working Capital Days-20-10-86-62-34-817559894107118
ROCE %3%8%9%9%8%10%23%23%8%17%15%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters38.22%38.22%38.22%38.22%35.66%35.66%35.66%35.66%35.66%35.66%35.66%35.66%
FIIs1.29%2.11%1.85%1.67%2.08%2.22%1.94%1.72%1.62%1.62%1.59%1.46%
DIIs2.27%2.21%2.15%2.14%1.69%1.64%1.67%1.50%1.49%1.25%1.25%1.28%
Government0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public58.20%57.46%57.76%57.96%60.57%60.46%60.72%61.09%61.22%61.46%61.50%61.59%
No. of Shareholders3,04,0013,04,2893,36,0193,48,7664,30,9294,48,3614,68,8604,61,1804,61,8534,53,1374,47,2864,34,912

Fundamentals

Market Cap₹ 6,510 Cr.
Current Price₹ 119
Stock P/E55.4
Book Value₹ 22.8
ROCE8.05 %
ROE5.33 %
Dividend Yield0.17 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)27%
Consolidated figures.
Valuation
Market capRs 7,327 Cr
Enterprise valueRs 7,466 Cr
P/E (TTM)52.14x
Price to book5.88x
Price to sales3.76x
EV / EBITDA32.19x
EV / EBIT38.06x
EV / sales3.83x
Price to cash flow224.49x
Earnings yield1.92%
Dividend yield0.15%
P/E, 3-year average21.34x
P/B, 3-year average2.10x
P/E, 5-year average23.06x
P/B, 5-year average2.21x
Profitability
Operating margin (excl. other income)6.96%
Operating margin (incl. other income)9.57%
EBITDA margin11.89%
Pre-tax margin9.17%
Net profit margin7.20%
Net margin, latest quarter9.89%
ROE7.90%
ROCE10.04%
ROA5.11%
ROE, 3-year average10.57%
ROCE, 3-year average14.05%
ROA, 3-year average6.93%
ROE, 5-year average11.56%
ROCE, 5-year average14.71%
ROA, 5-year average6.98%
ROIC (approx.)11.29%
Tax rate20.25%
Other income / net worth3.78%
Growth
Sales growth (latest year)-0.33%
Profit growth (latest year)-19.61%
Sales CAGR, 3 years8.40%
Sales CAGR, 5 years8.73%
Profit CAGR, 3 years34.86%
Profit CAGR, 5 years-0.46%
Sales growth QoQ17.62%
Profit growth QoQ258.32%
Sales growth YoY (latest quarter)34.07%
Profit growth YoY (latest quarter)424.65%
Per share
EPS (TTM)Rs 2.56
EPS (latest year)Rs 1.73
EPS (latest quarter)Rs 1.03
EPS, 3-year averageRs 1.92
EPS, 5-year averageRs 1.73
Book value per shareRs 22.75
Sales per shareRs 35.60
Cash flow per shareRs 0.60
Free cash flow per shareRs -2.32
Dividend per share (latest year)Rs 0.20
Dividend per share, 3-year averageRs 0.20
Dividend per share, 5-year averageRs 0.20
Dividends
Dividend payout11.55%
Dividend payout, 3-year average10.42%
Dividend payout, 5-year average10.42%
Efficiency
Asset turnover0.93x
Fixed asset turnover3.52x
Inventory turnover4.58x
Inventory days80 days
Debtor days67 days
Debtors turnover5.42x
Creditor days103 days
Cash conversion cycle53 days
Working capital days118 days
Leverage
Total debtRs 208 Cr
Cash and bankRs 69 Cr
Net debtRs 139 Cr
Debt to equity0.17x
Net debt / EBITDA0.60x
Interest coverage11.39x
Current ratio (filing 2026-03-31)2.37x
Quick ratio (filing 2026-03-31)1.82x
Trade payables (filing 2026-03-31)Rs 317 Cr
Owners' fund to total sources64.38%
Debt to assets10.74%
Cash flow
Cash from Operating Activity (latest year)Rs 33 Cr
Cash from Investing Activity (latest year)Rs -126 Cr
Cash from Financing Activity (latest year)Rs 97 Cr
Net Cash Flow (latest year)Rs 4 Cr
Free cash flow (latest year)Rs -127 Cr
FCFE (approx.: FCF + change in debt)Rs -24 Cr
Cash from ops / profit, 5 years-0.03x
Sales to cash flow55.32x
Statement figures
Net sales (TTM)Rs 1,951 Cr
Net sales (latest year)Rs 1,806 Cr
Sales (latest quarter)Rs 570 Cr
Operating profit excl. other income (latest year)Rs 126 Cr
Operating profit (latest quarter)Rs 83 Cr
Other income (TTM)Rs 48 Cr
EBITDA (TTM)Rs 232 Cr
PBDT (TTM)Rs 215 Cr
Profit before tax (TTM)Rs 179 Cr
Tax (latest year)Rs 24 Cr
Net profit (TTM)Rs 141 Cr
Net profit (latest year)Rs 95 Cr
Net profit (latest quarter)Rs 56 Cr
Depreciation (TTM)Rs 36 Cr
Depreciation (latest quarter)Rs 8 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 1,245 Cr
Total expenditure (latest year)Rs 1,680 Cr
Total income (latest year)Rs 1,853 Cr
Share capitalRs 110 Cr
ReservesRs 1,137 Cr
Shareholders' fundsRs 1,246 Cr
Total assetsRs 1,936 Cr
Net blockRs 513 Cr
Capital work in progressRs 22 Cr
InvestmentsRs 124 Cr
ReceivablesRs 333 Cr
InventoryRs 272 Cr
Other liabilitiesRs 482 Cr
Shares outstanding (crore)54.80
Ownership
Promoter holding35.66% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 52.1 is at the 80th percentile of its own 9.4-year range (median 34.8, low 12.8, high 106.7).
P/B 5.88 is at the 78th percentile (median 4.06).
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.
PeriodMOREPENLABNifty 50Difference
1 week+14.7%-2.8% +17.5 pts
1 month+29.0%-6.8% +35.8 pts
3 months+126.4%-7.6% +134.0 pts
6 months+297.0%+0.4% +296.6 pts
1 year+166.4%-9.9% +176.3 pts
2 years+55.1%-13.6% +68.6 pts
3 years+260.4%+14.2% +246.3 pts
5 years+138.4%+27.9% +110.5 pts
2 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 2 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Bandhan BSE Healthcare Index Fund0.23%0 -23%
Motilal Oswal BSE 1000 Index Fund0.02%0 -20%

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was 45% of net profit over the last 3 years
explainDebt up, profit down Borrowings up 98% while net profit fell in 2026
lookOn NSE surveillance On NSE surveillance: ASM long-term
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.

Latest quarter

Jun 2026
Sales ₹570 Cr +34.1% vs Jun 2025. Net profit ₹56 Cr +409.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-18Dividend - Re 0.20 Per Share
2025-08-29Dividend - Re 0.20 Per Share
2024-09-20Annual General Meeting
2023-09-21Annual General Meeting
2022-09-19Annual General Meeting
2021-09-20 Annual General Meeting
2020-09-22 Annual General Meeting
2019-09-05 Annual General Meeting
2018-09-12 Annual General Meeting
2017-09-14 Annual General Meeting
2016-09-15 Annual General Meeting
2015-09-10 Annual General Meeting
2014-09-11Annual General Meeting
2014-08-08E - Voting
2013-09-05Annual General Meeting
2012-09-07Annual General Meeting
2011-09-09Annual General Meeting
2009-09-11Annual General Meeting
2008-06-27Annual General Meeting
2007-08-17Agm
2006-09-18Agm
No announcements in our files yet.
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
2019-07-23NCLATMorepen Laboratories Ltd. VS Regional Director (Northern Region) & Anr.
2019-04-08NCLATMorepen Laboratories Ltd. VS Regional Director (Northern Region) & Anr.
2019-03-27NCLATMorepen Laboratories Ltd. VS Regional Director (Northern Region) & Anr.
2019-03-07NCLATMorepen Laboratories Ltd. VS Regional Director (Northern Region) & Anr.
2019-02-13NCLATMorepen Laboratories Ltd. VS Regional Director (Northern Region) & Anr.
2019-01-28NCLATMorepen Laboratories Ltd. VS Regional Director (Northern Region) & Anr.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03