MarketFriction

Sun Pharma Advanced Research Company Ltd

NSE SPARC · BSE 532872 · Pharmaceuticals
₹194.13 -1.55%
NSE close2026-10-01
52 week range108.00 - 289.00
Market cap₹6,778 Cr.
P/E4.25
Microcap 250 Price band 10% Delivery 38.1%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2114171713152710881,85340
Expenses11311612411211789816274658074
Operating Profit-91-103-108-95-104-74-54-52-66-571,773-34
OPM %-432%-740%-649%-566%-808%-499%-198%-543%-838%-673%96%-86%
Other Income864200090-12224
Interest0011135689128
Depreciation333333333322
Profit before tax-86-100-107-97-108-80-61-52-76-811,761-21
Tax %0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit-86-100-107-97-108-80-61-52-76-811,761-21
EPS in Rs-2.66-3.07-3.29-2.98-3.32-2.46-1.88-1.60-2.34-2.4854.26-0.65
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales161181781837725313723976721,8791,909
Expenses224304321334387388324453479399281294
Operating Profit-63-123-243-151-310-135-187-214-404-3271,5981,616
OPM %-39%-68%-310%-83%-404%-53%-136%-90%-534%-456%85%85%
Other Income3145414105711292-213
Interest2200311138293436
Depreciation8888911101212111010
Profit before tax-70-119-197-145-312-151-203-223-388-3451,5521,583
Tax %0%0%0%0%0%0%0%0%0%0%0%
Net Profit-70-119-197-145-312-151-203-223-388-3451,5521,583
EPS in Rs-2.83-4.82-7.85-5.55-11.92-5.77-7.48-6.86-11.96-10.6447.8348.79
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth28%49%99%2856%
Compounded Profit Growth38%65%108%631%
Stock Price CAGR-4%-7%-4%61%
Return on Equity%%%281%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242425252626262732323232
Reserves768133160270-45-194448092-2531,301
Borrowings45632267236791656265559
Other Liabilities3975111122101224162170302305284275
Total Liabilities1431632733093982732302808304863292,168
Fixed Assets677069525810491921061039585
CWIP0113243252627445472
Investments00101082118612291200
Other Assets76921921461061281271504063381792,011
Total Assets1431632733093982732302808304863292,168
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-41-44-128-183-172-211-152-208-69-429-362-239
Cash from Investing Activity53-13-7-105-1021552-29-548391158-24
Cash from Financing Activity-1511942242745515922961743201262
Net Cash Flow11-760-63009-8-14-4-1
Free Cash Flow-49-56-136-200-184-264-153-233-84-455-372-262
CFO/OP110%48%88%71%111%65%111%114%35%105%114%-17%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days47217882207625745075822
Inventory Days00000000
Days Payable
Cash Conversion Cycle47217882207625745075822
Working Capital Days20-161-60-232-98-842-268-301-193-746-1,778214
ROCE %-32%-71%-94%-143%-62%-183%-242%-218%-67%-109%-298%165%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters65.68%65.68%65.68%65.68%65.68%65.68%65.68%65.67%65.67%65.67%65.67%65.68%
FIIs3.67%3.30%3.24%2.64%2.15%2.23%1.45%1.47%1.76%2.04%2.04%3.90%
DIIs0.65%0.67%0.67%0.17%0.21%0.64%1.13%0.97%1.05%0.78%0.88%0.09%
Public29.99%30.36%30.41%31.51%31.96%31.47%31.76%31.88%31.52%31.51%31.41%30.34%
No. of Shareholders1,01,4331,03,9901,02,7431,25,1841,28,2051,31,0341,42,8641,40,7241,36,9971,44,8101,40,6251,41,957

Fundamentals

Market Cap₹ 6,778 Cr.
Current Price₹ 209
Stock P/E4.25
Book Value₹ 41.1
ROCE165 %
ROE281 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)2856%
Compounded Profit Growth (TTM)631%
Standalone figures.
Valuation
Market capRs 6,300 Cr
Enterprise valueRs 6,859 Cr
P/E (TTM)3.98x
Price to book4.72x
Price to sales3.30x
EV / EBITDA4.21x
EV / EBIT4.24x
EV / sales3.59x
Earnings yield25.13%
P/E, 3-year average2.40x
P/B, 3-year average25.59x
P/E, 5-year average2.40x
P/B, 5-year average69.33x
Profitability
Operating margin (excl. other income)85.04%
Operating margin (incl. other income)84.95%
EBITDA margin85.31%
Pre-tax margin82.91%
Net profit margin82.91%
Net margin, latest quarter-52.56%
ROE278.92%
ROCE163.73%
ROA124.31%
ROE, 3-year average292.71%
ROCE, 3-year average-81.00%
ROA, 3-year average-6.44%
ROE, 5-year average218.64%
ROCE, 5-year average-104.63%
ROA, 5-year average-27.84%
ROIC (approx.)85.56%
Other income / net worth-0.13%
Growth
Sales growth (latest year)2518.32%
Sales CAGR, 3 years98.91%
Sales CAGR, 5 years49.34%
Sales growth QoQ-97.85%
Profit growth QoQ-101.19%
Sales growth YoY (latest quarter)314.11%
Per share
EPS (TTM)Rs 48.78
EPS (latest year)Rs 47.83
EPS (latest quarter)Rs -0.65
EPS, 3-year averageRs 8.41
EPS, 5-year averageRs 2.18
Book value per shareRs 41.09
Sales per shareRs 58.84
Cash flow per shareRs -7.36
Free cash flow per shareRs -8.07
Efficiency
Asset turnover0.87x
Fixed asset turnover22.02x
Debtor days2 days
Debtors turnover227.23x
Cash conversion cycle2 days
Working capital days214 days
Leverage
Total debtRs 559 Cr
Cash and bankRs 0 Cr
Net debtRs 559 Cr
Debt to equity0.42x
Net debt / EBITDA0.34x
Interest coverage44.89x
Current ratio (filing 2026-03-31)2.46x
Quick ratio (filing 2026-03-31)2.46x
Trade payables (filing 2026-03-31)Rs 106 Cr
Owners' fund to total sources61.51%
Debt to assets25.80%
Cash flow
Cash from Operating Activity (latest year)Rs -239 Cr
Cash from Investing Activity (latest year)Rs -24 Cr
Cash from Financing Activity (latest year)Rs 262 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -262 Cr
FCFE (approx.: FCF + change in debt)Rs 32 Cr
Cash from ops / profit, 5 years-3.33x
Statement figures
Net sales (TTM)Rs 1,909 Cr
Net sales (latest year)Rs 1,879 Cr
Sales (latest quarter)Rs 40 Cr
Operating profit excl. other income (latest year)Rs 1,598 Cr
Operating profit (latest quarter)Rs -34 Cr
Other income (TTM)Rs 13 Cr
EBITDA (TTM)Rs 1,629 Cr
PBDT (TTM)Rs 1,593 Cr
Profit before tax (TTM)Rs 1,583 Cr
Net profit (TTM)Rs 1,583 Cr
Net profit (latest year)Rs 1,552 Cr
Net profit (latest quarter)Rs -21 Cr
Depreciation (TTM)Rs 10 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 36 Cr
Cost of goods sold (latest year)Rs 51 Cr
Total expenditure (latest year)Rs 281 Cr
Total income (latest year)Rs 1,877 Cr
Share capitalRs 32 Cr
ReservesRs 1,301 Cr
Shareholders' fundsRs 1,334 Cr
Total assetsRs 2,168 Cr
Net blockRs 85 Cr
Capital work in progressRs 72 Cr
InvestmentsRs 0 Cr
ReceivablesRs 8 Cr
Other liabilitiesRs 275 Cr
Shares outstanding (crore)32.45
Ownership
Promoter holding65.68% (+0.01 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 4.72 is the lowest in 5.7 years (median 31.32).
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.
PeriodSPARCNifty 50Difference
1 week-4.8%-2.8% -2.0 pts
1 month-1.4%-6.8% +5.3 pts
3 months-18.9%-7.6% -11.3 pts
6 months+69.0%+0.4% +68.6 pts
1 year+43.0%-9.9% +52.9 pts
2 years-10.8%-13.6% +2.8 pts
3 years-16.7%+14.2% -30.9 pts
5 years-33.8%+27.9% -61.7 pts
8 mutual fund schemes hold about ₹6 Cr. Over three months 1 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Nifty Microcap 250 Index Fund0.20%5 -2%
Samco Multi Cap Fund0.41%1 +100%
Groww Nifty Total Market Index Fund0.01%0 +1%
Bandhan BSE Healthcare Index Fund0.12%0 +1%
Angel One Nifty Total Market Index Fund0.01%0 +1%
Motilal Oswal BSE 1000 Index Fund0.01%0 +1%
Mirae Asset Nifty Total Market Index Fund0.01%0 +1%
Bandhan Nifty Total Market Index Fund0.01%0 +1%

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was -126% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 83% of total assets in 2026
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 ₹40 Cr +300.0% vs Jun 2025. Net loss ₹21 Cr.
Against our estimate for Jun 2026: sales +150.0%, profit +82.1% in line. Our estimate for Sep 2026: sales Rs 13 Cr, profit Rs -64 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2021-09-21 Annual General Meeting
2020-09-22 Annual General Meeting
2019-07-18 Annual General Meeting
2018-07-19 Annual General Meeting
2017-07-27 Annual General Meeting
2017-05-25 Extraordinary General Meeting
2016-07-21 Annual General Meeting
2016-03-16 Rights 5: 116 At Premium Rs 244/- Per Share
2015-07-23Annual General Meeting
2014-07-24Annual General Meeting
2013-07-24Annual General Meeting
2012-08-23Rights 1: 7@ Premium Rs 66 Per Share
2011-07-28Annual General Meeting
2010-07-16Annual General Meeting
2009-08-21Annual General Meeting
2008-08-25Annual General Meeting
2007-08-28Agm
DateTypeWhat it says
2026-08-13General UpdatesFiling of Application for Reclassification with Stock Exchanges
2026-08-10Shareholder meetingProceedings of Annual General Meeting held on August 10, 2026
2026-08-10Monitoring Agency ReportMonitoring Agency Report for the quarter ended June 30, 2026.
2026-08-10Board meeting outcomeOutcome of Board Meeting held on August 10, 2026.
2026-08-10Board meeting outcomeSun Pharma Advanced Research Company Limited has submitted to the Exchange, the Unaudited Financial Results for the quarter ended June 30, 2026.
2026-07-27UpdatesReceipt of requests for reclassification of shareholder category
2026-07-16Shareholder meetingNotice of Annual General Meeting to be held on August 10, 2026 along with the Annual Report for FY 2025-26
2026-07-13Director changeChange in Director(s) of the company.
2026-07-06UpdatesIntimation of the 21st Annual General Meeting of the Company.
2026-06-26Change in ManagementChange in Management
2026-06-25Rescission/termination(s)Termination of License Agreement with CMS Bridging DMCC
2026-05-25UpdatesStatutory Auditors Certificate in terms of Regulation 169(5) of SEBI ICDR Regulations.
2026-05-19General UpdatesPDP-716 NDA Update
2026-05-19AllotmentAllotment of 3,85,10,000 Warrants pursuant to Preferential Issue at its meeting held on May 19, 2026
2026-05-18Board meeting outcomeSun Pharma Advanced Research Company Limited has submitted to the Exchange, the financial results for the quarter and financial year ended March 31, 2...
2026-04-30Press ReleaseA press release dated April 30, 2026, titled "SPARC Announces Sale of Priority Review Voucher for US $195 million".
2026-04-22Disclosure under SEBI TakeovDilip S. Shanghvi has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-04-03ResignationResignation of Ms. Shravanti Bhowmick as Head of Operations Management of the Company w.e.f. April 01, 2026.
2026-03-27Change in ManagementChange in Management
2026-03-26Volume querySignificant increase in volume has been observed in Sun Pharma Advanced Research Company Limited. The Exchange, in order to ensure that investors have...
2026-03-25Volume querySignificant increase in volume has been observed in Sun Pharma Advanced Research Company Limited. The Exchange, in order to ensure that investors have...
2026-02-24General UpdatesAddendum to the Valuation Report issued on January 14, 2026
2026-02-09Shareholder meetingProceedings of Extraordinary General Meeting held on February 09, 2026
2026-02-09Board meeting outcomeSun Pharma Advanced Research Company Limited has submitted to the Exchange, the unaudited financial results for the period ended December 31, 2025.
2026-02-09Board meeting outcomeBoard meeting held on February 09, 2026.
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.
High low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 150perc in previous 12 months

Quick answers

What is the market cap of Sun Pharma Advanced Research Company Ltd?

Sun Pharma Advanced Research Company Ltd (SPARC) has a market capitalisation of Rs 6,778 Cr. at the 2026-10-01 close.

What is the P/E ratio of Sun Pharma Advanced Research Company Ltd?

Sun Pharma Advanced Research Company Ltd trades at a P/E of 4.25 on trailing twelve-month profit, at the 2026-10-01 close.

What were Sun Pharma Advanced Research Company Ltd's latest quarterly results?

In the Jun 2026 quarter, Sun Pharma Advanced Research Company Ltd sales was Rs 40 Cr (+300.0% vs Jun 2025) with a net loss of Rs 21 Cr.

What is the 52-week high and low of Sun Pharma Advanced Research Company Ltd?

The 52-week high is Rs 289.00 and the 52-week low is Rs 108.00.

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