Bafna Pharmaceuticals Ltd
NSE: BAFNAPH · Pharmaceuticals · sector
₹434.10NSE close 2026-10-26
Key numbers
Market cap₹1,027 cr
Price₹434.10
52w high / low₹480 / ₹95
P/E131.9xSector median 27.9x
P/B10.7xSector median 2.9x
Book value₹40.6
Dividend yield–Sector median 0.48%
ROE8.6%Sector median 11.7%
ROCE8.5%Sector median 12.3%
OPM8.2%Sector median 14.0%
Debt / equity0.39xSector median 0.16x
EV/EBITDA90.3xSector median 18.6x
Interest cover3.1x
Current ratio1.57x
Sales growth 3y+9.3%Sector median +9.6%
Profit growth 3y-0.7%Sector median +13.3%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹2 cr vs borrowings ₹37 cr (FY26): borrowings are higher by ₹35 cr.
- Borrowings rose in each of the last 3 years (₹23 cr → ₹37 cr).
- Operating profit covered interest 3.1x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY23).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 78% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹434.10 on 2026-10-26: -9.6% from the 52-week high, +358.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹461.35 · low ₹73.00
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 40 | 33 | 39 | 35 | 35 | 38 | 42 | 27 |
| EBITDA | 4 | 3 | 1 | 5 | 4 | 3 | 4 | 1 |
| OPM % | 9.4% | 9.2% | 3.4% | 14.6% | 12.1% | 8.0% | 8.4% | 3.3% |
| Other income | 1 | 0 | 1 | 1 | 1 | 1 | 2 | 2 |
| Net profit | 3 | 1 | 1 | 3 | 3 | 2 | 3 | 0 |
| EPS (₹) | 1.11 | 0.40 | 0.55 | 1.43 | 1.32 | 0.78 | 1.16 | 0.03 |
| Revenue YoY | -12.0% | +15.4% | +8.1% | -23.2% | ||||
| Profit YoY | +19.1% | +93.7% | +109.9% | -97.6% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 85 | 115 | 152 | 146 | 151 | 143 |
| EBITDA | 9 | 16 | 11 | 9 | 16 | 12 |
| Net profit | 5 | 11 | 7 | 4 | 11 | 8 |
| EPS (₹) | 4.34 | 4.86 | 3.11 | 1.76 | 4.69 | 3.29 |
| Revenue growth | +35.5% | +32.2% | -4.3% | +3.3% | -3.1% | |
| Profit growth | +120.2% | -35.2% | -43.5% | +167.5% | -5.8% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +9.3% | +16.2% | -3.1% |
| Net profit | -0.7% | +13.8% | -5.8% |
| EPS | -1.2% | +13.8% | – |
| Share price | – | +139.5% (2y) | +220.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 73 | 81 | 85 | 96 |
| Borrowings | – | 23 | 24 | 28 | 37 |
| Cash & equivalents | – | 8 | 1 | 3 | 2 |
| Total assets | – | 130 | 148 | 153 | 176 |
| Fixed assets | – | 40 | 40 | 59 | 82 |
| Capital work in progress | – | 2 | 10 | 7 | 3 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 41 | 45 | 40 | 44 |
| Inventory | – | 22 | 30 | 28 | 29 |
| Payables | – | 28 | 35 | 31 | 31 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 7 | 5 | 9 | 22 | 15 |
| Cash from investing | -5 | -7 | -15 | -21 | -22 |
| Cash from financing | -4 | 10 | -1 | 1 | 6 |
| Capex | 8 | 8 | 16 | 22 | 25 |
| Free cash flow | -1 | -3 | -6 | 0 | -10 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 15.4% | 9.1% | 4.9% | 11.5% |
| ROCE % | – | 14.2% | 9.2% | 6.1% | 11.0% |
| Debtor days | – | 130 | 109 | 101 | 106 |
| Inventory days | – | 129 | 125 | 127 | 129 |
| Payable days | – | 165 | 149 | 140 | 139 |
| Cash conversion cycle (days) | – | 94 | 85 | 88 | 96 |
| Working capital days | – | 129 | 97 | 82 | 79 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 75.00% |
| FIIs | 9.34% |
| Public (non-institutions) | 15.66% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 88.30% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% |
| Promoter group | % |
|---|---|
| SRJR Lifesciences LLP | 74.57% |
| P Paras Bafna | 0.21% |
| Navin Bafna | 0.18% |
| Mahaveer Chand Bafna | 0.03% |
| Sasikala Bafna | 0.01% |
| Amri BAI Bafna | 0.01% |
| Paras Bafna | 0.00% |
| Chetna Bafna | 0.00% |
| Mahaveer Chand Bafna HUF | 0.00% |
| Public holders above 1% | % |
|---|---|
| Cullinan Opportunities Fund Vcc-cullinan Opportunities Incorporated VCC SUB Fund 1 | 3.21% |
| M7 Global Fund Pcc-cell Dewcap Fund | 3.12% |
| Zeal Global Opportunities Fund | 3.01% |
| Alpana Mundra | 2.73% |
| Monarch Networth Finserve Private Limited | 1.35% |
| Guttikonda Vara Lakshmi | 1.29% |
6,810 shareholders. Pledged: 0.00% of promoter shares.
Peers in Pharmaceuticals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | ₹4,17,478 cr | 34.5x | 5.0x | 15.5% | 18.7% | 28.6% | +10.0% | 0.94% |
| DIVISLAB | ₹2,39,825 cr | 82.1x | 14.3x | 18.4% | 23.0% | 34.7% | +10.8% | 0.34% |
| TORNTPHARM | ₹1,53,999 cr | 72.7x | 18.4x | 27.3% | 15.1% | 32.3% | +13.3% | 0.84% |
| ZYDUSLIFE | ₹1,15,808 cr | 25.9x | 4.3x | 17.7% | 16.8% | 27.2% | +16.4% | 0.95% |
| LAURUSLABS | ₹1,11,232 cr | 101.6x | 21.0x | 22.4% | 20.8% | 28.0% | +4.1% | 0.08% |
| CIPLA | ₹1,09,464 cr | 32.5x | 3.2x | 10.3% | 13.2% | 17.7% | +7.4% | 1.18% |
| DRREDDY | ₹1,09,460 cr | 33.9x | 2.9x | 9.0% | 10.1% | 15.5% | +11.0% | 0.61% |
| MANKIND | ₹95,486 cr | 46.7x | 5.9x | 13.4% | 13.8% | 25.1% | +17.7% | 0.04% |
| AUROPHARMA | ₹91,489 cr | 24.9x | 2.4x | 10.5% | 12.8% | 20.0% | +10.6% | 0.26% |
| BAFNAPH | ₹1,027 cr | 131.9x | 10.7x | 8.6% | 8.5% | 8.2% | +9.3% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-17 | Other | Annual General Meeting |
| 2022-07-20 | Other | Annual General Meeting |
| 2021-08-05 | Other | Annual General Meeting |
| 2020-07-23 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | BAFNAPH |
| BSE code | 532989 |
| ISIN | INE878I01022 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.