Emcure Pharmaceuticals Ltd.

•

emcure.comBSE: 544210NSE: EMCURE

Market Cap₹ 37,499 Cr.

Current Price

High / Low₹ 2,048 / 1,260

Stock P/E37.1

Book Value₹ 276

Price to Book6.13

Dividend Yield0.18 %

ROCE25.3 %

ROE20.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Promoters have been increasing their shareholding - up 29.8pp over 2 years
Company has a healthy return on capital (ROCE) of 22.5%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 36.2% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.33x)

CONS

Total debt has risen sharply - up 64.6% year on year
Recurring exceptional / one-off items are inflating headline profit
Stock is trading at 6.1x its book value
Though reporting repeated profits, the company pays out little dividend (7.4%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	SUNPHARMA	1842.00	36.54	441957.50	0.87	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9326.00	84.64	247576.00	0.32	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4975.00	86.76	189233.01	0.76	566.00	3.28	4921.00	57.32	19.27	33.81
4.	ZYDUSLIFE	1119.50	24.74	111670.55	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
5.	CIPLA	1365.00	32.72	110272.68	0.95	785.55	-39.18	7119.28	4.13	16.00	16.73
6.	LAURUSLABS	1970.35	97.37	106460.42	0.10	362.07	123.94	2026.31	29.10	18.20	31.50
7.	DRREDDY	1161.00	30.07	96906.38	0.69	435.60	-69.10	8099.80	-5.21	13.75	10.63
8.	AUROPHARMA	1675.45	25.97	96401.69	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
9.	LUPIN	2096.00	17.34	95842.92	0.86	1416.98	16.01	8276.89	34.28	28.86	29.59
10.	MANKIND	2277.00	46.04	94050.37	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
11.	GLENMARK	2416.90	37.94	68210.88	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	EMCURE	1976.75	37.08	37498.80	0.18	292.49	36.17	2580.45	22.85	25.25	20.64

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,556	1,663	1,668	1,771	1,815	2,002	1,963	2,116	2,101	2,270	2,363	2,470	2,580
	1,261	1,334	1,361	1,461	1,478	1,621	1,608	1,714	1,684	1,831	1,871	1,990	2,189
Operating Profit	296	329	307	311	337	381	355	402	417	439	493	480	391
OPM %	19.00%	19.78%	18.41%	17.54%	18.55%	19.02%	18.07%	19.01%	19.84%	19.35%	20.85%	19.42%	15.17%
	15	-2	9	12	23	36	4	-6	0	39	-36	14	2
Interest	52	59	61	65	59	46	32	39	27	33	38	46	32
Depreciation	67	70	84	91	94	97	97	97	99	105	105	106	110
Profit before Tax	191	198	171	167	207	273	230	261	291	341	314	341	394
Tax %	26.33%	26.35%	29.95%	27.50%	26.43%	26.28%	32.11%	24.32%	26.13%	26.38%	26.27%	28.56%	25.67%
Net Profit	0	0	0	0	153	202	156	197	215	251	231	244	292
	7.21	7.70	6.27	6.36	7.95	10.38	8.12	9.97	10.92	12.85	12.16	12.84	15.50

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,188	4,228	4,717	5,049	6,056	5,855	5,986	6,658	7,896	9,204	9,683
	3,336	3,461	3,968	4,345	4,824	4,525	4,805	5,429	6,427	7,458	7,881
Operating Profit	852	767	749	704	1,232	1,330	1,181	1,230	1,469	1,746	1,803
OPM %	20.34%	18.14%	15.87%	13.94%	20.34%	22.71%	19.73%	18.47%	18.60%	18.97%	18.62%
	-165	-73	72	-21	-53	63	40	47	62	100	20
Interest	174	176	223	257	198	176	214	237	176	144	148
Depreciation	217	228	267	321	323	245	260	312	384	415	425
Profit before Tax	296	290	331	105	657	973	747	727	971	1,287	1,390
Tax %	14.98%	40.03%	36.73%	4.49%	36.32%	27.76%	24.81%	27.45%	27.17%	26.87%	26.69%
Net Profit	251	174	209	101	419	703	562	528	707	941	1,019
EPS	13.26	9.68	10.79	4.62	21.68	36.62	29.42	27.50	35.96	48.76	—
Dividend Payout %	22.62%	36.15%	32.45%	54.08%	4.61%	8.19%	6.80%	10.91%	8.34%	7.38%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 9%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: 5%
5 Years:: 19%
3 Years:: 20%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 44%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 23%
3 Years:: 20%
Last Year:: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	181	181	181	181	181	181	181	181	189	190
Minority Interest	67	54	65	72	95	127	149	169	195	27
	1,387	1,504	1,639	1,704	2,080	1,791	2,305	2,757	4,245	4,748
	2,086	2,287	2,526	2,614	2,532	2,260	2,363	2,240	1,230	1,378
Trade Payables	506	622	685	741	972	1,125	1,086	1,309	1,480	1,808
	365	441	343	491	799	464	490	1,052	783	1,322
Total Liabilities	4,592	5,089	5,440	5,803	6,659	5,947	6,573	7,709	8,122	9,473
	1,941	2,049	2,247	2,382	2,412	2,044	2,147	3,125	3,197	3,319
Capital Work in Progress	385	494	422	332	222	310	404	132	124	172
	0	0	0	0	0	25	25	318	95	20
	995	928	1,128	1,173	1,514	1,449	1,383	1,525	1,932	2,398
	0	0	0	0	0	0	0	1,859	2,002	2,563
Cash & Bank	263	270	104	164	524	313	458	232	165	148
	1,007	1,348	1,540	1,752	1,987	1,806	2,157	518	606	854
Total Assets	4,592	5,089	5,440	5,803	6,659	5,947	6,573	7,709	8,122	9,473

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	593	535	579	592	905	1,079	947	1,097	852	944
Cash from Investing	-616	-426	-409	-164	-252	-789	-468	-713	-94	-1,193
Cash from Financing	293	-69	-735	-301	-189	-152	-145	-164	-814	343
	137	-13	-699	36	264	-172	134	221	-56	94

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Mar 2020	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	48.01	78.08	77.94	77.92	77.91	77.88	77.87	77.87	77.83
	0.00	2.91	3.05	3.06	2.86	3.29	3.59	3.35	4.87
	13.09	3.96	3.87	3.44	2.84	4.36	6.10	6.10	8.46
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	38.90	15.05	15.14	15.57	16.39	14.46	12.44	12.69	8.83

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

ESOP/ESOS/ESPS

2026-09-11 - Emcure Pharmaceuticals Limited has informed the Exchange regarding Allotment of 11400 Shares.

2026-09-01

General Updates

2026-09-01 - Intimation under Regulations 30 and 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dispatch of letter to the Members whose e-mail addresses are not registered with the Company/Depository Participants

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-01 - Emcure Pharmaceuticals Limited has informed the Exchange about Schedule of meet

2026-09-01

Credit Rating

2026-09-01 - Emcure Pharmaceuticals Limited has informed the Exchange about Credit Rating

2026-08-29

Copy of Newspaper Publication

2026-08-29 - Newspaper Advertisement of Notice of the 45th Annual General Meeting and e-voting information

2026-08-28

Shareholders meeting

2026-08-28 - Emcure Pharmaceuticals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 21, 2026

2026-08-25

ESOP/ESOS/ESPS

2026-08-25 - Emcure Pharmaceuticals Limited has informed the Exchange regarding Allotment of 19100 Shares.

2026-08-12

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - Emcure Pharmaceuticals Limited has informed the Exchange about Transcript

2026-08-08

General Updates

2026-08-08 - Update on USFDA inspection at our formulations facility located at Sanand, Ahmedabad, Gujarat, India.

News

Recent coverage and analyst commentary for EMCURE

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Emcure Pharmaceuticals Ltd.

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Name

SUNPHARMA

1842.00

36.54

441957.50

0.87

2901.23

26.53

15299.88

10.98

19.11

28.81

DIVISLAB

9326.00

84.64

247576.00

0.32

902.00

65.50

3080.00

27.80

21.51

40.75

TORNTPHARM

4975.00

86.76

189233.01

0.76

566.00

3.28

4921.00

57.32

19.27

33.81

ZYDUSLIFE

1119.50

24.74

111670.55

0.09

990.20

-34.90

8017.00

23.97

21.39

24.54

CIPLA

1365.00

32.72

110272.68

0.95

785.55

-39.18

7119.28

4.13

16.00

16.73

LAURUSLABS

1970.35

97.37

106460.42

0.10

362.07

123.94

2026.31

29.10

18.20

31.50

DRREDDY

1161.00

30.07

96906.38

0.69

435.60

-69.10

8099.80

-5.21

13.75

10.63

AUROPHARMA

1675.45

25.97

96401.69

0.24

1032.03

25.22

9150.35

17.44

12.76

20.54

LUPIN

2096.00

17.34

95842.92

0.86

1416.98

16.01

8276.89

34.28

28.86

29.59

MANKIND

2277.00

46.04

94050.37

0.04

574.09

29.12

4030.59

12.89

13.24

26.30

GLENMARK

2416.90

37.94

68210.88

0.10

482.83

927.88

4018.48

31.35

20.35

20.03

EMCURE

1976.75

37.08

37498.80

0.18

292.49

36.17

2580.45

22.85

25.25

20.64

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,556

1,663

1,668

1,771

1,815

2,002

1,963

2,116

2,101

2,270

2,363

2,470

2,580

1,261

1,334

1,361

1,461

1,478

1,621

1,608

1,714

1,684

1,831

1,871

1,990

2,189

Operating Profit

296

329

307

311

337

381

355

402

417

439

493

480

391

OPM %

19.00%

19.78%

18.41%

17.54%

18.55%

19.02%

18.07%

19.01%

19.84%

19.35%

20.85%

19.42%

15.17%

-2

-6

-36

Interest

Depreciation

105

106

110

Profit before Tax

191

198

171

167

207

273

230

261

291

341

314

341

394

Tax %

26.33%

26.35%

29.95%

27.50%

26.43%

26.28%

32.11%

24.32%

26.13%

26.38%

26.27%

28.56%

25.67%

Net Profit

153

202

156

197

215

251

231

244

292

7.21

7.70

6.27

6.36

7.95

10.38

8.12

9.97

10.92

12.85

12.16

12.84

15.50

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

4,188

4,228

4,717

5,049

6,056

5,855

5,986

6,658

7,896

9,204

9,683

3,336

3,461

3,968

4,345

4,824

4,525

4,805

5,429

6,427

7,458

7,881

Operating Profit

852

767

749

704

1,232

1,330

1,181

1,230

1,469

1,746

1,803

OPM %

20.34%

18.14%

15.87%

13.94%

20.34%

22.71%

19.73%

18.47%

18.60%

18.97%

18.62%

-165

-73

-21

-53

100

Interest

174

176

223

257

198

176

214

237

176

144

148

Depreciation

217

228

267

321

323

245

260

312

384

415

425

Profit before Tax

296

290

331

105

657

973

747

727

971

1,287

1,390

Tax %

14.98%

40.03%

36.73%

4.49%

36.32%

27.76%

24.81%

27.45%

27.17%

26.87%

26.69%

Net Profit

251

174

209

101

419

703

562

528

707

941

1,019

EPS

13.26

9.68

10.79

4.62

21.68

36.62

29.42

27.50

35.96

48.76

—

Dividend Payout %

22.62%

36.15%

32.45%

54.08%

4.61%

8.19%

6.80%

10.91%

8.34%

7.38%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

181

189

190

Minority Interest

127

149

169

195

1,387

1,504

1,639

1,704

2,080

1,791

2,305

2,757

4,245

4,748

2,086

2,287

2,526

2,614

2,532

2,260

2,363

2,240

1,230

1,378

Trade Payables

506

622

685

741

972

1,125

1,086

1,309

1,480

1,808

365

441

343

491

799

464

490

1,052

783

1,322

Total Liabilities

4,592

5,089

5,440

5,803

6,659

5,947

6,573

7,709

8,122

9,473

1,941

2,049

2,247

2,382

2,412

2,044

2,147

3,125

3,197

3,319

Capital Work in Progress

385

494

422

332

222

310

404

132

124

172

318

995

928

1,128

1,173

1,514

1,449

1,383

1,525

1,932

2,398

1,859

2,002

2,563

Cash & Bank

263

270

104

164

524

313

458

232

165

148

1,007

1,348

1,540

1,752

1,987

1,806

2,157

518

606

854

Total Assets

4,592

5,089

5,440

5,803

6,659

5,947

6,573

7,709

8,122

9,473

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

593

535

579

592

905

1,079

947

1,097

852

944

Cash from Investing

-616

-426

-409

-164

-252

-789

-468

-713

-94

-1,193

Cash from Financing

293

-69

-735

-301

-189

-152

-145

-164

-814

343

137

-13

-699

264

-172

134

221

-56

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Mar 2020

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

48.01

78.08

77.94

77.92

77.91

77.88

77.87

77.83

0.00

2.91

3.05

3.06

2.86

3.29

3.59

3.35

4.87

13.09

3.96

3.87

3.44

2.84

4.36

6.10

8.46

Government

0.00

38.90

15.05

15.14

15.57

16.39

14.46

12.44

12.69

8.83

Emcure Pharmaceuticals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Emcure Pharmaceuticals Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI