Fin Cascade
Get Android appGet iOS app

Prices as of 8 Oct 2026 close · Not investment advice

Natco Pharma Limited

NSE: NATCOPHARMPharmaceuticals

Share price

₹795.40

-1.81% close of 8 Oct 2026

Market cap ₹14,317 CrP/E 12.5

Business score

How strong the business is, in one number. The parts behind it are in Pro.

61

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹14,317 Cr

P/E ratio

12.5

P/B ratio

1.7

ROCE

17.4%

ROE

17.1%

Dividend yield

0.6%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹1,206.0052-week low ₹792.95

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 20.7% over the past year. Meanwhile what it keeps of every 100 rupees of sales improved from 19.6% to 27.4% over the last four years.

Whether it grew faster than its sector

It grew 16.4% a year against a sector median of 13.1% — 3.3 percentage points faster.

Room to re-rate, or risk of de-rating

At 12.5× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 78.7×, across 5 companies. It is against its own five-year median of 13.6×, the 37th percentile of its own range.

Whether growth justifies the valuation

Priced at 0.5 times its growth rate, on earnings growth of 27%.

Profit growthPrice per ₹1 profitPer 1% growth
Natco Pharma Limited — this one27%/yr12.5×₹0.46
Sun Pharmaceutical13%/yr33.4×₹2.6
Divi's Laboratories13%/yr83.3×₹6.4
Torrent Pharmaceuticals22%/yr78.7×₹3.6
Zydus Lifesciences32%/yr23.1×₹0.72
Laurus Labs Limited4%/yr98.6×₹24.7

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Pharmaceuticals), it ranks 48 of 130 on returns, 34 of 127 on growth, 8 of 130 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 17.4% on capital, ahead of 63% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹5572 crore of cash from the business, spent ₹1506 crore on plant and equipment, and returned ₹488 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 93 arrived as cash. Its cash comes back faster than it used to: it went from being waiting 256 days for its cash to waiting 111 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue nearly halved as its biggest cancer drug faded, but the ₹750 crore full-year profit goal stands.

Announced 14 Aug 2026 · Consolidated · Unaudited

Revenue

₹735 Cr

Revenue vs last year

-44.7%

Revenue vs last quarter

-0.5%

Net profit

₹207 Cr

Profit vs last year

-57.0%

Profit vs last quarter

-23.2%

Net margin

28.1%

EPS

₹11.53

Earnings call transcript · 14 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹14,317 Cr
Prev close
₹795.40
52w High
₹1,227
52w Low
₹792
Enterprise value
₹12,902 Cr
Beta
1.0
Price CAGR 1y
1.0%
Price CAGR 3y
-1.0%
Price CAGR 5y
-2.0%
Price CAGR 10y
3.0%

Ratios

Return on assets
12.8%
PEG ratio
0.5
P/E ratio
12.5
P/B ratio
1.7
EV / EBITDA
12.3
Industry P/E
38.0
ROCE
17.4%
ROCE 5y average
20.4%
ROE
17.1%
Debt / Equity
0.1
Interest coverage
41.3
Dividend yield
0.6%
ROE 3y average
23.0%
ROE last year
17.0%

Annual P&L

Annual revenue
₹4,078 Cr
Annual profit
₹1,418 Cr
Operating margin
36.0%
Net profit margin
34.8%
EBITDA margin
35.9%
Sales growth 3y
14.6%
Sales growth 5y
14.7%
Profit growth 3y
27.0%
Profit growth 5y
28.0%
EPS
₹72.3
Sales growth TTM
-21.0%
Profit growth TTM
-33.0%
Dividend payout
6.0%

Quarter P&L

Sales latest quarter
₹735 Cr
Profit latest quarter
₹206 Cr
YoY quarterly sales growth
-44.7%
YoY quarterly profit growth
-57.1%
OPM latest quarter
25.4%

Balance Sheet

Book Value
₹512
Face Value
₹2.0
Total debt
₹714 Cr
Total cash
₹1,551 Cr
Borrowings
₹714 Cr
Reserves / Equity
255.1

Cash Flow

Operating cash flow
₹1,768 Cr
Free cash flow
₹1,379 Cr
FCF yield
9.4%
Net cash flow
₹79 Cr

Shareholding

Promoter holding
49.4%
FII holding
17.0%
DII holding
5.6%
Public holding
28.0%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Sun Pharma.Inds.1,764.1533.54,23,2790.902,901.26.015,299.910.520.5
Divi's Lab.9,512.2084.72,52,5190.31902.065.53,080.027.822.0
Torrent Pharma.4,637.2079.01,76,3840.81566.05.84,921.054.915.2
Zydus Lifesci.1,114.9022.81,11,2120.09990.2-35.18,017.022.021.1
Laurus Labs2,025.75100.11,09,4540.10362.1125.52,026.329.117.8
Cipla1,306.2029.51,05,5240.98785.6-39.27,119.32.315.5
Mankind Pharma2,430.2547.01,00,3800.04574.129.64,030.612.913.5
Natco Pharma801.0013.815,7130.62206.5-57.0735.2-44.717.4
Median416.7034.22,1340.0713.529.5164.018.415.0

Competes with: Aurobindo Pharma, Cipla, Divi's Laboratories, Dr Reddy's Laboratories, Laurus Labs Limited, Lupin, Mankind Pharma Limited, Sun Pharmaceutical, Torrent Pharmaceuticals, Zydus Lifesciences

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1411,0317591,0681,3631,3714751,2211,3291,363647739735
Expenses612573490571558567436673758784489612549
Material Cost169181175135103158
Change in Inventories3915-78-5814-38
Purchases of Stock-in-Trade413773563828
Employee Cost159169200159159179
Other Expenses264356414196298222
Operating Profit52845826849780580439548571579159128186
OPM %4644354759598.17454342251725
Other Income2029374248641766662100587859
Exceptional items (within Other Income)000000
Interest445654410313101113
Depreciation44444456444647985852465047
Profit before tax500440256478804818164506572614161144186
Tax %1616171917171920161613-6234
Net Profit420369213386668676132406480518151269206
EPS in Rs2119112034356.782125267.721411
Diluted EPS in Rs2327298.461512

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8251,0422,0202,1852,0941,9152,0521,9452,7073,9994,4304,0783,485
Expenses6157771,3371,2561,3001,3321,4461,6811,7722,2452,2342,6172,433
Material Cost536594
Change in Inventories-13-106
Purchases of Stock-in-Trade166203
Employee Cost595687
Other Expenses9491,264
Operating Profit2102666839287955836062649361,7542,1961,4621,052
OPM %25253442383030143544503630
Other Income012144013010710499105126354272295
Exceptional items (within Other Income)00
Interest32231815192213181419243746
Depreciation4751546681100117143164187235207196
Profit before tax1322046248878255695802028621,6742,2911,4911,104
Tax %1242222221924161717188
Net Profit1301564856956424584421707151,3881,8831,4181,145
EPS in Rs7.408.2325343223228.503671967258
Diluted EPS in Rs10579
Dividend Payout %1214242218272248141266

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
15%
5 years
15%
3 years
15%
TTM
-21%

Compounded profit growth

10 years
25%
5 years
28%
3 years
27%
TTM
-33%

Stock price CAGR

10 years
3%
5 years
-2%
3 years
-1%
1 year
1%

Return on equity

10 years
19%
5 years
19%
3 years
23%
Last year
17%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 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
Minority Interest5.300
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

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 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-25-4466572258192-1426748551,3011,379

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 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 %17183935231413418303317

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters505050505050505049494949
FIIs131416171818171614151717
DIIs14119.697.866.755.595.645.815.875.395.465.63
Public232524252627272931302828
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

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -2.2% (₹813.55 → ₹795.40)Brick size ₹21.77 (fixed)Bricks 69
₹1,000₹1,200₹795Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹795.40 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-1,415inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

81,08,730inr

2026-03-31

News

News and filings about Natco Pharma Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Active pharmaceutical ingredients, key starting materials and intermediates

Buys from

Sells to

  • Alvogen · Generic FDF supply (US marketing partner)
  • Dr Reddy's Laboratories · Generic finished-dosage formulations (US marketing partnership)
  • Lupin · Generic finished-dosage formulations (US marketing partnership)
  • Sun Pharmaceutical · Generic finished-dosage formulations (US marketing partnership)
  • Teva Pharmaceutical Industries · Generic FDF / API supply (US marketing partner)
  • Viatris (formerly Mylan) · Generic FDF / API supply (US marketing partner)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Healthcare
Industry
Pharmaceuticals
Classification
Healthcare › Pharmaceuticals
ISIN
INE987B01026

Business segments

  • Pharmaceuticals · 97%
  • Agro chemicals · 3%

Plants

  • NATCO API Facility, Manali
  • NATCO API Facility, Mekaguda
  • NATCO Formulations Facility, Kothur
  • NATCO Formulations Facility, Visakhapatnam

News impact

Big market events that reach Natco Pharma Limited, and how the effect spreads.

Who it hits first

  • Eli Lilly loses India market share to generic GLP-1 manufacturers

Who may gain

  • Indian generic pharma companies with GLP-1 manufacturing capability — Natco, Zydus, Lupin, Glenmark

Along the supply chain

Downstream

Indian hospitals and pharmacies benefit from higher generic availability

Upstream

API manufacturers for GLP-1 active ingredients see demand surge

Where demand moves

Business

Patient demand shifts from branded to affordable Indian generics — volumes surge for domestic players

Capital

Pharma sector rotation from overvalued names to generics players with GLP-1 exposure

How it spreads across sectors

CDMO

Contract manufacturers may receive orders from global generic players

Healthcare

Structural positive for Indian generics sector

When it plays out

Immediate

Pharma stocks with GLP-1 exposure see buying

Medium term

Indian generic penetration in obesity drugs creates multi-year revenue stream

Short term

Watch for ANDA filings and regulatory approvals

Who it hits first

  • Indian generic pharma companies with GLP-1 capabilities benefit massively

Who may gain

  • NATCOPHARM, LUPIN, ZYDUSLIFE best positioned for generic semaglutide

Along the supply chain

Downstream

Pharmacies benefit from affordable alternatives

Upstream

API manufacturers for semaglutide intermediates see demand surge

Where demand moves

Business

Patent expiry opens floodgate - massive volume opportunity - Indian generic makers gain market share

Capital

Pharma becomes growth story - FII inflows to pharma names with GLP-1 pipeline

How it spreads across sectors

CDMO

Contract manufacturers benefit

Healthcare

Broader access to diabetes/obesity treatment

When it plays out

Immediate

Generic launches capture initial market share

Medium term

Indian generics dominate global semaglutide market

Short term

Price competition intensifies, volume ramps

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

20 Aug 2026interim₹1.5
18 Feb 2026interim₹1.5
20 Nov 2025interim₹1.5
19 Aug 2025interim₹2
18 Feb 2025interim₹1.5
27 Nov 2024interim₹1.5
23 Aug 2024interim₹3
26 Feb 2024interim₹1.25

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Insider trades

DisclosedWhoTypeSharesValue ₹ Cr
26 Aug 2026DURGA DEVI NANNAPANENI · PromoterSELL50,000—

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.