MarketFriction

Natco Pharma Ltd

NSE NATCOPHARM · BSE 524816 · Pharmaceuticals
₹821.30 -0.75%
NSE close2026-10-01
52 week range781.19 - 1,214.65
Market cap₹15,101 Cr.
P/E13.2
Nifty 500Nifty Smallcap 50Nifty Smallcap 100Smallcap 250 Price band 20% Delivery 55.4%

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
Sales1,0317591,0681,3631,3714751,2211,3291,363647739735
Expenses573490571558567436673758784489612549
Operating Profit45826849780580439548571579159128186
OPM %44%35%47%59%59%8%45%43%42%25%17%25%
Other Income29374248641766662100587859
Interest45654410313101113
Depreciation444456444647985852465047
Profit before tax440256478804818164506572614161144186
Tax %16%17%19%17%17%19%20%16%16%13%-62%34%
Net Profit369213386668676132406480518151269206
EPS in Rs20.6011.8821.5737.3237.817.4322.7026.8428.948.4614.9611.53
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,0422,0202,1852,0941,9152,0521,9452,7073,9994,4304,0783,485
Expenses7771,3371,2561,3001,3321,4461,6811,7722,2452,2342,6172,433
Operating Profit2666839287955836062649361,7542,1961,4621,052
OPM %25%34%42%38%30%30%14%35%44%50%36%30%
Other Income12144013010710499105126354272295
Interest231815192213181419243746
Depreciation51546681100117143164187235207196
Profit before tax2046248878255695802028621,6742,2911,4911,104
Tax %24%22%22%22%19%24%16%17%17%18%8%
Net Profit1564856956424584421707151,3881,8831,4181,145
EPS in Rs9.0227.8837.7435.2425.3124.189.3139.1877.51105.2679.2063.89
Dividend Payout %14%24%22%18%27%22%48%14%12%6%6%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%15%15%-21%
Compounded Profit Growth25%28%27%-33%
Stock Price CAGR4%-1%-1%6%
Return on Equity19%19%23%17%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital333535373636363636363636
Reserves8131,2611,6143,0353,4523,7374,0854,2274,8375,8177,5719,185
Borrowings312113222173386316268416167371279714
Other Liabilities2264134464704284984034306176827441,138
Total Liabilities1,3841,8222,3183,7154,3034,5884,7925,1095,6576,9068,63111,074
Fixed Assets7107108331,0191,2271,5842,0232,3122,4272,4912,6982,803
CWIP12921233648063851822313064137225294
Investments22232761691123043083925394743,127
Other Assets5438781,1162,1402,2702,3732,2422,3602,7743,7395,2344,850
Total Assets1,3841,8222,3183,7154,3034,5884,7925,1095,6576,9068,63111,074
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity93112346464669417299468491,2121,6971,768
Cash from Investing Activity-120-176-299-1,116-611-175-1074-465-1,026-1,436-1,987
Cash from Financing Activity29154-48651-51-251-18635-363-247-211298
Net Cash Flow290-1-27-868521-625079
Free Cash Flow-25-4466572258192-1426748551,3001,379
CFO/OP55%60%69%72%107%90%71%36%110%85%94%148%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days859286106881057311611510910379
Inventory Days331482213389545534570496432357405480
Days Payable189372160239224244104105153120145216
Cash Conversion Cycle228202138257410395539507394345362343
Working Capital Days259771215207295246256198151151111
ROCE %17%18%39%35%23%14%13%4%18%30%33%17%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters49.71%49.71%49.71%49.71%49.62%49.62%49.56%49.56%49.48%49.48%49.41%49.41%
FIIs12.82%13.72%16.14%17.45%17.51%17.94%17.49%15.52%14.09%15.16%17.37%16.99%
DIIs14.01%11.26%9.69%7.86%6.75%5.59%5.64%5.81%5.87%5.39%5.46%5.63%
Public23.48%25.32%24.46%24.99%26.13%26.88%27.30%29.12%30.56%29.97%27.74%27.97%
No. of Shareholders1,63,7532,07,5712,28,4672,51,4853,02,9443,45,3324,05,2224,29,4344,19,6994,24,1674,10,9704,03,166

Fundamentals

Market Cap₹ 15,101 Cr.
Current Price₹ 843
Stock P/E13.2
Book Value₹ 515
ROCE17.4 %
ROE17.1 %
Dividend Yield0.59 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-21%
Compounded Profit Growth (TTM)-33%
Consolidated figures.
Valuation
Market capRs 14,710 Cr
Enterprise valueRs 13,873 Cr
P/E (TTM)12.86x
Price to book1.60x
Price to sales4.22x
EV / EBITDA10.30x
EV / EBIT12.05x
EV / sales3.98x
Price to cash flow8.32x
Earnings yield7.78%
Dividend yield0.61%
P/E, 3-year average10.72x
P/B, 3-year average2.23x
P/E, 5-year average25.53x
P/B, 5-year average2.41x
Profitability
Operating margin (excl. other income)35.84%
Operating margin (incl. other income)42.52%
EBITDA margin38.66%
Pre-tax margin31.70%
Net profit margin32.84%
Net margin, latest quarter28.09%
ROE16.86%
ROCE17.14%
ROA14.40%
ROE, 3-year average23.59%
ROCE, 3-year average26.67%
ROA, 3-year average20.26%
ROE, 5-year average18.09%
ROCE, 5-year average20.58%
ROA, 5-year average15.50%
ROIC (approx.)12.63%
Tax rate7.98%
Other income / net worth2.96%
Growth
Sales growth (latest year)-7.93%
Profit growth (latest year)-24.76%
Sales CAGR, 3 years14.64%
Sales CAGR, 5 years14.72%
Profit CAGR, 3 years25.64%
Profit CAGR, 5 years26.33%
Sales growth QoQ-0.53%
Profit growth QoQ-22.92%
Sales growth YoY (latest quarter)-44.68%
Profit growth YoY (latest quarter)-57.04%
Per share
EPS (TTM)Rs 63.89
EPS (latest year)Rs 79.20
EPS (latest quarter)Rs 11.53
EPS, 3-year averageRs 87.32
EPS, 5-year averageRs 62.10
Book value per shareRs 514.83
Sales per shareRs 194.55
Cash flow per shareRs 98.73
Free cash flow per shareRs 76.99
Dividend per share (latest year)Rs 5.00
Dividend per share, 3-year averageRs 6.83
Dividend per share, 5-year averageRs 6.10
Dividends
Dividend payout6.31%
Dividend payout, 3-year average8.08%
Dividend payout, 5-year average17.32%
Efficiency
Asset turnover0.37x
Fixed asset turnover1.46x
Inventory turnover1.18x
Inventory days310 days
Debtor days79 days
Debtors turnover4.63x
Creditor days216 days
Cash conversion cycle343 days
Working capital days111 days
Leverage
Total debtRs 714 Cr
Cash and bankRs 1,551 Cr
Net debtRs -837 Cr
Debt to equity0.08x
Net debt / EBITDA-0.62x
Interest coverage24.75x
Current ratio (filing 2026-03-31)3.01x
Quick ratio (filing 2026-03-31)2.47x
Trade payables (filing 2026-03-31)Rs 409 Cr
Owners' fund to total sources83.27%
Debt to assets6.45%
Cash flow
Cash from Operating Activity (latest year)Rs 1,768 Cr
Cash from Investing Activity (latest year)Rs -1,987 Cr
Cash from Financing Activity (latest year)Rs 298 Cr
Net Cash Flow (latest year)Rs 79 Cr
Free cash flow (latest year)Rs 1,379 Cr
FCFE (approx.: FCF + change in debt)Rs 1,814 Cr
Cash from ops / profit, 5 years1.00x
Sales to cash flow2.31x
Statement figures
Net sales (TTM)Rs 3,485 Cr
Net sales (latest year)Rs 4,078 Cr
Sales (latest quarter)Rs 735 Cr
Operating profit excl. other income (latest year)Rs 1,462 Cr
Operating profit (latest quarter)Rs 186 Cr
Other income (TTM)Rs 295 Cr
EBITDA (TTM)Rs 1,347 Cr
PBDT (TTM)Rs 1,301 Cr
Profit before tax (TTM)Rs 1,104 Cr
Tax (latest year)Rs 119 Cr
Net profit (TTM)Rs 1,144 Cr
Net profit (latest year)Rs 1,418 Cr
Net profit (latest quarter)Rs 206 Cr
Depreciation (TTM)Rs 196 Cr
Depreciation (latest quarter)Rs 47 Cr
Interest (TTM)Rs 46 Cr
Cost of goods sold (latest year)Rs 1,071 Cr
Total expenditure (latest year)Rs 2,617 Cr
Total income (latest year)Rs 4,351 Cr
Share capitalRs 36 Cr
ReservesRs 9,185 Cr
Shareholders' fundsRs 9,221 Cr
Total assetsRs 11,074 Cr
Net blockRs 2,803 Cr
Capital work in progressRs 294 Cr
InvestmentsRs 3,127 Cr
ReceivablesRs 881 Cr
InventoryRs 908 Cr
Other liabilitiesRs 1,138 Cr
Shares outstanding (crore)17.91
Ownership
Promoter holding49.41% (-0.15 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 12.9 is at the 16th percentile of its own 9.4-year range (median 20.7, low 7.4, high 71.9).
P/B 1.60 is the lowest in 9.4 years (median 3.29).
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.
PeriodNATCOPHARMNifty 50Difference
1 week-2.5%-2.8% +0.3 pts
1 month-3.3%-6.8% +3.5 pts
3 months-11.8%-7.6% -4.2 pts
6 months-15.7%+0.4% -16.1 pts
1 year-2.5%-9.9% +7.4 pts
2 years-43.0%-13.6% -29.4 pts
3 years-5.9%+14.2% -20.1 pts
5 years-9.0%+27.9% -36.9 pts
66 mutual fund schemes hold about ₹265 Cr. Over three months 6 bought more and 21 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Tata Value Fund(Div Trig Opt B-10%)Pay0.68%59 -16%
Sundaram Small Cap Fund1.12%46 -15%
Tata Small Cap Fund0.35%46 -2%
Bandhan Multi Cap Fund0.75%23 +38%
Nippon India Nifty Smallcap 250 Index Fund0.34%12 -1%
Aditya Birla SL Pharma & Healthcare Fund0.92%10 +100%
ICICI Pru ESG Exclusionary Strategy Fund0.50%7 +100%
Axis Nifty Smallcap 50 Index Fund0.92%7 -6%
SBI Nifty Smallcap 250 Index Fund0.34%6 -1%
DSP Nifty Smallcap250 Quality 50 Index Fund1.47%5 -5%
Motilal Oswal Nifty Smallcap 250 Index Fund0.34%4 -1%
JM Value Fund0.46%4 +100%
The Wealth Company Flexi Cap Fund1.40%4 -12%
Aditya Birla SL Nifty Smallcap 50 Index Fund0.92%3 -5%
ICICI Pru Nifty Smallcap 250 Index Fund0.34%3 -1%
HDFC NIFTY Smallcap 250 Index Fund0.34%3 -1%
Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund0.40%2 -11%
Tata Nifty MidSmall Healthcare Index Fund1.14%2 -2%
NJ Value Fund1.23%2 +100%
Kotak Nifty Smallcap 50 Index Fund0.92%2 -5%
JioBlackRock Nifty Smallcap 250 Index Fund0.34%1 -1%
Motilal Oswal Nifty 500 Index Fund0.04%1 +0%
Sundaram LT Micro Cap Tax Adv Fund-Sr III-1.40%1 +2%
JioBlackRock Flexi Cap Fund0.03%1 -71%
Edelweiss Nifty Smallcap 250 Index Fund0.34%1 -1%

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 156% while net profit fell in 2026
lookRegulator order or action Regulator order or action 2026-07-14: Natco Pharma Limited has informed the Exchange about Action(s) taken or orders passed
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 ₹735 Cr -44.7% vs Jun 2025. Net profit ₹206 Cr -57.1%.
Against our estimate for Jun 2026: sales -43.8%, profit -56.5% miss. Our estimate for Sep 2026: sales Rs 818 Cr, profit Rs 263 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-10-01Rights 2:21 @ Premium Rs 748/-
2026-08-20Interim Dividend - Rs 1.50 Per Share
2026-02-18Interim Dividend - Rs 1.50 Per Share
2025-11-20Interim Dividend - Rs 1.50 Per Share
2025-08-19Interim Dividend - Rs 2 Per Share
2025-02-18Interim Dividend - Rs 1.50 Per Share
2024-11-27Interim Dividend - Rs 1.50 Per Share
2024-09-25Annual General Meeting
2024-08-23Interim Dividend - Rs 3 Per Share
2024-02-26Interim Dividend - Rs 1.25 Per Share
2023-11-24Interim Dividend - Rs 1.25 Per Share
2023-09-25Annual General Meeting
2023-08-22Interim Dividend - Rs 7 Per Share
2023-02-21Interim Dividend - Rs 1.25 Per Share
2022-11-21Interim Dividend - Re 0.75 Per Share
2022-09-23Annual General Meeting
2022-08-19Interim Dividend - Rs 3.50 Per Share
2022-02-24Interim Dividend - Rs 2 Per Share
2021-11-23 Interim Dividend - Rs 0.50 Per Share
2021-09-23 Annual General Meeting
2021-08-24 Interim Dividend - Rs 2 Per Share
2021-02-22 Interim Dividend - Re 1 Per Share
2020-11-24 Interim Dividend - Rs 3 Per Share
2020-10-09 Annual General Meeting
2020-08-21 Interim Dividend - Rs 1.25 Per Share
2020-06-26 Interim Dividend - Re 1 Per Share
2020-02-24 Interim Dividend - Rs 3.5 Per Share
2019-11-21 Interim Dividend - Re 1 Per Share
2019-08-29 Annual General Meeting
2019-08-22 Interim Dividend - Rs 1.25 Per Share
2019-06-06 Interim Dividend - Rs 1.25 Per Share
2019-02-21 Interim Dividend - Rs 3.50 Per Share
2018-09-10 Annual General Meeting
2018-08-20 Interim Dividend- Rs 1.50 Per Share
2018-02-15 Interim Dividend Rs 7/- Per Share
2017-09-20 Annual General Meeting
2017-08-16 Interim Dividend - Rs 1.25 Per Share
2017-02-23 Interim Dividend Rs 6/- Per Share
2016-08-19 Dividend - Re 0.75/- Per Share
2016-02-22 Interim Dividend - Rs 1.25/- Per Share
2015-11-26 Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
2015-09-16 Annual General Meeting
2015-02-24Interim Dividend - Rs 5/- Per Share
2014-09-22Annual General Meeting
2014-02-24Interim Dividend Rs.5/- Per Share
2013-09-23Annual General Meeting
2013-02-22Interim Dividend Rs 4 Per Share
2012-09-24Annual General Meeting
2012-02-22Interim Dividend Rs.3/- Per Share
2011-09-23Annual General Meeting
2011-02-24Interim Dividend-Rs.2/- Per Share
2010-09-23Annual General Meeting
2010-02-05Int Div-Rs.2/- Per Share
2009-09-17Annual General Meeting
2009-06-04Int Div-Rs.1.25 Per Share
2008-09-22Annual General Meeting
2007-11-12Int Div-Rs.1.25 Per Sh
2007-09-25Agm
2006-11-10Interim Dividend-12.5%
2006-09-19Agm
DateTypeWhat it says
2026-09-30Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of 43rd Annual General Meeting held on September 30, 2026
2026-09-28Committee Meeting UpdatesOutcome of Fund Raising Committee Meeting approving the Letter of Offer for Rights Issue
2026-09-28Press ReleaseA press release dated September 28, 2026, titled "Press Release under SEBI (LODR) Regulations, 2015".
2026-09-25Record DateRecord date for the purpose of Rights is 01-Oct-2026.
2026-09-25Issue of SecuritiesIssue of Securities on Rights Basis
2026-09-25Rights IssueBoard of Directors at its meeting held on September 25, 2026, has decided to issue equity shares on rights basis in the ratio of 2 : 21, i.e 2 Equity ...
2026-09-21UpdatesIntimation regarding receipt of In-Principle Approval for the Rights Issue .
2026-09-09Rights IssueIntimation of Draft letter of Offer
2026-09-09Board meeting outcomeOutcome of Board Meeting held on September 09, 2026.
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-02Concall / analyst meetSchedule of meet
2026-08-25Press ReleaseA press release dated August 25, 2026, titled "Investment in eGenesis, Inc.".
2026-08-24Concall / analyst meetSchedule of meet
2026-08-21Press ReleaseA press release dated August 21, 2026, titled "Conclusion of US FDA Inspection at our Visakhapatnam, Andhra Pradesh, Finished Dosage Formulations (FDF...
2026-08-19Concall / analyst meetSchedule of meet
2026-08-19Investor PresentationInvestor Presentation
2026-08-18Concall / analyst meetTranscript
2026-08-16Concall / analyst meetSchedule of meet
2026-08-14Concall / analyst meetLink of Recording
2026-08-14Concall / analyst meetPresentation
2026-08-14Record DateRecord date for the purpose of Dividend is 20-Aug-2026.
2026-08-14Board meeting outcomeNatco Pharma Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026 and declaration of Interim Dividend for th...
2026-08-11Concall / analyst meetSchedule of meet
2026-07-18Press ReleaseA press release dated July 18, 2026, titled "NATCO received Tentative Approval for Olaparib Tablets from the United States Food and Drug Administratio...
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.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Natco Pharma Ltd?

Natco Pharma Ltd (NATCOPHARM) has a market capitalisation of Rs 15,101 Cr. at the 2026-10-01 close.

What is the P/E ratio of Natco Pharma Ltd?

Natco Pharma Ltd trades at a P/E of 13.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Natco Pharma Ltd's latest quarterly results?

In the Jun 2026 quarter, Natco Pharma Ltd sales was Rs 735 Cr (-44.7% vs Jun 2025) and net profit was Rs 206 Cr.

What is the 52-week high and low of Natco Pharma Ltd?

The 52-week high is Rs 1,214.65 and the 52-week low is Rs 781.19.

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