Ipca Laboratories Ltd

NSE: IPCALAB · Pharmaceuticals · sector

₹1,938.60NSE close 2026-10-26

Key numbers

Market cap₹49,182 cr

Price₹1,938.60

52w high / low₹2,038 / ₹1,252

P/E37.5xSector median 27.9x

P/B6.1xSector median 2.9x

Book value₹317.9

Dividend yield0.11%Sector median 0.48%

ROE17.4%Sector median 11.7%

ROCE21.5%Sector median 12.3%

OPM21.2%Sector median 14.0%

Debt / equity0.09xSector median 0.16x

EV/EBITDA22.7xSector median 18.6x

Interest cover27.2x

Current ratio2.76x

Sales growth 3y+15.6%Sector median +9.6%

Profit growth 3y+34.3%Sector median +13.3%

PEG1.09x

Last 12 months to Jun 2026, Consolidated. "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 ₹1,198 cr vs borrowings ₹704 cr (FY26): cash is higher (net cash).
Borrowings fell in each of the last 3 years (₹1,458 cr → ₹704 cr).
Operating profit covered interest 27.2x in the last 12 months.
No promoter shares are pledged.
Operating cash flow was below net profit in 1 of the last 5 years (FY22).
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 13% of net profit in the last 12 months.
Dividend paid in 5 of the last 5 financial years.
Price ₹1,938.60 on 2026-10-26: -4.9% from the 52-week high, +54.9% 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 ₹1,997.10 · low ₹1,286.30

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	2,355	2,245	2,247	2,309	2,556	2,392	2,388	2,788
EBITDA	441	463	224	416	487	551	438	670
OPM %	18.7%	20.6%	10.0%	18.0%	19.0%	23.0%	18.3%	24.0%
Other income	26	20	26	33	28	20	94	25
Net profit	229	248	68	233	283	326	299	402
EPS (₹)	9.05	9.78	2.67	9.19	11.14	12.86	11.79	15.84
Revenue YoY					+8.6%	+6.6%	+6.3%	+20.8%
Profit YoY					+23.1%	+31.5%	+341.0%	+72.3%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	5,830	6,244	7,705	8,940	9,646	10,126
EBITDA	1,309	927	1,213	1,521	1,892	2,145
Net profit	884	471	547	738	1,141	1,310
EPS (₹)	34.85	18.58	21.57	29.08	44.98	51.63
Revenue growth		+7.1%	+23.4%	+16.0%	+7.9%	+10.6%
Profit growth		-46.7%	+16.1%	+34.8%	+54.7%	+68.2%
Dividend / share (₹)	8.00	4.00	2.00	4.00	2.00

Compounded growth	3 years	5 years	Last 12 months
Sales	+15.6%	+12.2%	+10.6%
Net profit	+34.3%	0.0%	+68.2%
EPS	+34.3%	-13.0%	–
Share price	–	+9.0% (2y)	+49.8%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	5,842	6,332	6,948	8,064
Borrowings	–	1,458	1,388	1,302	704
Cash & equivalents	–	2,177	855	1,108	1,198
Total assets	–	8,626	11,101	11,761	12,370
Fixed assets	–	2,572	4,340	4,069	4,441
Capital work in progress	–	122	324	616	762
Investments	–	173	147	25	27
Receivables	–	989	1,687	1,874	2,014
Inventory	–	1,743	2,471	2,560	2,731
Payables	–	525	776	846	940

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	856	806	945	1,321	1,142
Cash from investing	-855	-725	-1,292	-870	-247
Cash from financing	427	507	-553	-283	-754
Capex	479	494	411	776	652
Free cash flow	377	311	533	546	490

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	8.1%	8.6%	10.6%	14.2%
ROCE %	–	10.8%	12.7%	14.7%	18.8%
Debtor days	–	58	80	77	76
Inventory days	–	276	350	336	353
Payable days	–	83	110	111	122
Cash conversion cycle (days)	–	251	320	302	307
Working capital days	–	198	151	146	154

Shareholding

Holder	% (2026-09-30)
Promoters	44.72%
FIIs	11.53%
DIIs	36.59%
of which Mutual funds	31.07%
of which Insurance	4.76%
Public (non-institutions)	7.15%

Quarter	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	44.72%	44.72%	44.72%	44.72%	44.72%	44.72%	44.72%	44.72%

Promoter group	%
Kaygee Investments Private Limited	25.49%
Kaygee Laboratories Private Limited	6.61%
Chandurkar Investments Private Limited	5.50%
Premchand Godha	2.29%
Usha M Chandurkar	1.70%
Usha Premchand Godha	0.95%
Sameer M Chandurkar	0.79%
Pranay Godha	0.67%
Prashant Godha	0.62%
Kalpana Jain	0.09%
Xbees Traders Llp	0.01%
Bhawna Godha	0.00%
Neetu Godha	0.00%
Nirmal Jain	0.00%
Makers Laboratories Limited	0.00%

Public holders above 1%	%
HDFC Mutual Fund	9.51%
Kotak Mahindra Mutual Fund	6.34%
DSP Mutual Fund	4.12%
SBI Life Insurance Co. Ltd	3.53%
Nippon India Mutual Fund	2.72%
Axis Mutual Fund	2.04%
Edelweiss Trusteeship Co Ltd	1.21%
HSBC Mutual Fund	1.13%
Kotak Mutual Funds	1.08%
HDFC Life Insurance Company Limited	1.07%

90,514 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%
IPCALAB	₹49,182 cr	37.5x	6.1x	17.4%	21.5%	21.2%	+15.6%	0.11%

All 185 companies in Pharmaceuticals →

Dividends & corporate actions

Ex-date	Action	Detail
2026-08-07	Dividend	Dividend - Rs 6 Per Share
2025-08-05	Dividend	Dividend - Rs 2 Per Share
2024-11-27	Dividend	Interim Dividend - Rs 2 Per Share
2024-08-06	Dividend	Annual General Meeting/Dividend - Rs 2 Per Share
2023-11-22	Dividend	Interim Dividend - Rs 2 Per Share
2022-11-22	Dividend	Interim Dividend - Rs 4 Per Share
2022-08-03	Other	Annual General Meeting
2022-01-10	Split	Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share
2021-11-22	Dividend	Interim Dividend - Rs 8 Per Share
2021-08-26	Other	Annual General Meeting
2020-11-13	Dividend	Interim Dividend - Rs 8 Per Share
2020-09-10	Other	Annual General Meeting
2020-02-18	Dividend	Interim Dividend - Rs 5 Per Share
2019-08-06	Dividend	Annual General Meeting/Dividend - Rs 3 Per Share
2018-08-02	Dividend	Annual General Meeting/Dividend- Re 1 Per Share
2017-07-27	Dividend	Annual General Meeting/Dividend - Re 1/- Per Share
2016-08-04	Other	Annual General Meeting
2015-07-22	Dividend	Annual General Meeting / Dividend - Re 1/- Per Share
2014-07-18	Dividend	Annual General Meeting / Final Dividend - Rs 2.50/- Per Share
2013-10-31	Dividend	Interim Dividend Rs.2.50 Per Share (Purpose Revised)

Documents

Links go to the original files on the exchange website.

About the company

Manufacture of Pharmaceuticals: Development, Manufacturing and Marketing of Pharmaceuticals Products


Sector	Healthcare
Industry	Pharmaceuticals
Sub-industry	Pharmaceuticals
Symbol	IPCALAB
BSE code	524494
ISIN	INE571A01038
Face value	₹1.0
Incorporated	1949-10-19
Website	https://www.ipca.com
Plants (India / abroad)	16 / 2

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.