Natco Pharma Ltd.
NSE: NATCOPHARM · Pharmaceuticals · sector
₹790.20NSE close 2026-10-26
Key numbers
Market cap₹14,145 cr
Price₹790.20
52w high / low₹1,227 / ₹779
P/E12.4xSector median 27.9x
P/B1.5xSector median 2.9x
Book value₹515.1
Dividend yield0.64%Sector median 0.48%
ROE13.6%Sector median 11.7%
ROCE11.6%Sector median 12.3%
OPM30.2%Sector median 14.0%
Debt / equity0.08xSector median 0.16x
EV/EBITDA12.1xSector median 18.6x
Interest cover24.8x
Current ratio3.01x
Sales growth 3y+14.6%Sector median +9.6%
Profit growth 3y+25.6%Sector median +13.3%
PEG0.46x
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 ₹2,129 cr vs borrowings ₹706 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 24.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY24, FY22).
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Other income was 26% of net profit in the last 12 months.
- Debtor days went from 109 (FY24) to 79 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹790.20 on 2026-10-26: -35.6% from the 52-week high, +1.4% 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 ₹1,476.80 · low ₹746.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,371 | 475 | 1,221 | 1,329 | 1,363 | 647 | 739 | 735 |
| EBITDA | 804 | 39 | 548 | 571 | 579 | 159 | 128 | 186 |
| OPM % | 58.7% | 8.2% | 44.9% | 43.0% | 42.5% | 24.5% | 17.3% | 25.4% |
| Other income | 64 | 176 | 66 | 62 | 100 | 58 | 78 | 59 |
| Net profit | 677 | 133 | 407 | 481 | 518 | 152 | 268 | 206 |
| EPS (₹) | 37.81 | 7.43 | 22.70 | 26.84 | 28.94 | 8.46 | 14.96 | 11.53 |
| Revenue YoY | -0.6% | +36.3% | -39.5% | -44.7% | ||||
| Profit YoY | -23.5% | +13.9% | -34.1% | -57.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,945 | 2,707 | 3,999 | 4,430 | 4,078 | 3,485 |
| EBITDA | 264 | 936 | 1,751 | 2,196 | 1,436 | 1,052 |
| Net profit | 170 | 715 | 1,388 | 1,885 | 1,418 | 1,144 |
| EPS (₹) | 9.32 | 39.18 | 77.34 | 105.26 | 79.20 | 63.89 |
| Revenue growth | +39.2% | +47.7% | +10.8% | -7.9% | -20.7% | |
| Profit growth | +320.8% | +94.1% | +35.8% | -24.8% | -32.6% | |
| Dividend / share (₹) | 2.50 | 5.50 | 9.50 | 6.00 | 5.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.6% | +14.7% | -20.7% |
| Net profit | +25.6% | +26.3% | -32.6% |
| EPS | +26.4% | +26.8% | – |
| Share price | – | -24.4% (2y) | -6.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 4,874 | 5,853 | 7,607 | 9,221 |
| Borrowings | – | 165 | 363 | 273 | 706 |
| Cash & equivalents | – | 851 | 1,396 | 2,497 | 2,129 |
| Total assets | – | 5,657 | 6,906 | 8,631 | 11,074 |
| Fixed assets | – | 2,239 | 2,298 | 2,432 | 2,545 |
| Capital work in progress | – | 64 | 137 | 225 | 294 |
| Investments | – | 87 | 96 | 153 | 273 |
| Receivables | – | 856 | 1,189 | 1,247 | 881 |
| Inventory | – | 743 | 700 | 766 | 908 |
| Payables | – | 264 | 236 | 275 | 409 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 46 | 849 | 1,212 | 1,697 | 1,768 |
| Cash from investing | -5 | -477 | -1,033 | -1,414 | -2,143 |
| Cash from financing | 35 | -363 | -247 | -211 | 298 |
| Capex | 243 | 206 | 359 | 512 | 391 |
| Free cash flow | -196 | 644 | 853 | 1,185 | 1,377 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 14.7% | 23.7% | 24.8% | 15.4% |
| ROCE % | – | 17.4% | 27.2% | 29.4% | 15.4% |
| Debtor days | – | 115 | 109 | 103 | 79 |
| Inventory days | – | 432 | 357 | 405 | 480 |
| Payable days | – | 153 | 120 | 145 | 216 |
| Cash conversion cycle (days) | – | 394 | 346 | 363 | 343 |
| Working capital days | – | 312 | 278 | 357 | 302 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 49.39% |
| FIIs | 16.00% |
| DIIs | 6.16% |
| of which Mutual funds | 2.25% |
| of which Insurance | 3.80% |
| Government | 0.00% |
| Public (non-institutions) | 28.45% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 49.62% | 49.56% | 49.56% | 49.48% | 49.48% | 49.42% | 49.42% | 49.39% |
| Promoter group | % |
|---|---|
| V C Nannapaneni | 15.66% |
| Time CAP Pharma Labs Private Limited | 9.59% |
| Venkata Satya Swathi Kantamani | 8.90% |
| Natsoft Information Systems PVT Ltd | 8.81% |
| Vistra ITCL India Limited A/c Neelima Nannapaneni Trust | 2.28% |
| Durga Devi Nannapaneni | 1.95% |
| Rajeev Nannapaneni | 0.60% |
| Vistra ITCL India Limited A/c Durgadevi Family Trust | 0.33% |
| T Anila | 0.32% |
| T Ananda Babu | 0.23% |
| Vidyadhari Tummala | 0.21% |
| Satya Vani Nannapaneni | 0.19% |
| Neelima Sita Nannapaneni | 0.10% |
| Sanjay Nannapaneni | 0.09% |
| NDL Infratech Private Limited | 0.05% |
| Public holders above 1% | % |
|---|---|
| Belgrave Investment Fund | 2.31% |
| Life Insurance Corporation of India | 2.24% |
| Tata Mutual Fund- Tata Value Fund | 1.03% |
| Akash Bhanshali | 1.01% |
4,04,135 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% |
| NATCOPHARM | ₹14,145 cr | 12.4x | 1.5x | 13.6% | 11.6% | 30.2% | +14.6% | 0.64% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Pharmaceuticals | ₹3,940 cr | 96.6% | ₹1,547 cr | 39.3% |
| Agro chemicals | ₹138 cr | 3.4% | ₹-20 cr | -14.3% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-10-01 | Rights | Rights 2:21 @ Premium Rs 748/- |
| 2026-08-20 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2026-02-18 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2025-11-20 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2025-08-19 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2025-02-18 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2024-11-27 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2024-09-25 | Other | Annual General Meeting |
| 2024-08-23 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2024-02-26 | Dividend | Interim Dividend - Rs 1.25 Per Share |
| 2023-11-24 | Dividend | Interim Dividend - Rs 1.25 Per Share |
| 2023-09-25 | Other | Annual General Meeting |
| 2023-08-22 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2023-02-21 | Dividend | Interim Dividend - Rs 1.25 Per Share |
| 2022-11-21 | Dividend | Interim Dividend - Re 0.75 Per Share |
| 2022-09-23 | Other | Annual General Meeting |
| 2022-08-19 | Dividend | Interim Dividend - Rs 3.50 Per Share |
| 2022-02-24 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2021-11-23 | Dividend | Interim Dividend - Rs 0.50 Per Share |
| 2021-09-23 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing and sale of pharmaceutical products: NATCO operates in two different business segments: Pharmaceuticals and agrochemicals. In the pharma business segment, the Company drives its sales through Finished Dosage Forms (FDFs) and Active Pharmaceutical Ingredients (APIs).
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | NATCOPHARM |
| BSE code | 524816 |
| ISIN | INE987B01026 |
| Face value | ₹2.0 |
| Incorporated | 1981-09-19 |
| Website | www.natcopharma.co.in |
| Plants (India / abroad) | 11 / 0 |
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.