Fermenta Biotech Ltd.

•

fermentabiotech.comBSE: 506414NSE: FERMENTA

Market Cap₹ 1,539 Cr.

Current Price

High / Low₹ 580 / 249

Stock P/E24.4

Book Value₹ 148

Price to Book2.18

Dividend Yield0.72 %

ROCE19.9 %

ROE16.1 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Chemicals: 97.9% • Property: 2.1%

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 2.0pp over 2 years
Operating margins have improved to 20.4% from 14.4%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.96x)
Company generates healthy free cash flow
Company comfortably covers its interest (8.2x coverage)
Company has a consistent dividend-paying track record

CONS

Recent results are weak - TTM profit is down 33.7% versus prior year
A large part of profit comes from other income (26.8% of PBT)
Company has a low return on equity of 10.0% over last 3 years
Company has delivered a poor profit growth of 4.3% over past five years
Company has delivered a poor sales growth of 3.8% over past five years
Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SUNPHARMA	1933.00	38.34	463791.45	0.83	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9232.00	83.79	245080.59	0.33	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	5004.40	87.28	190351.29	0.76	566.00	3.28	4921.00	57.32	19.27	33.81
4.	ZYDUSLIFE	1151.20	25.44	114832.64	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
5.	CIPLA	1413.15	33.87	114162.52	0.92	785.55	-39.18	7119.28	4.13	16.00	16.73
6.	LAURUSLABS	1863.00	92.06	100660.17	0.11	3620.70	2139.42	20263.10	1191.00	18.20	31.50
7.	LUPIN	2152.60	17.80	98431.05	0.84	1416.98	16.01	8276.89	34.28	28.86	29.59
8.	MANKIND	2380.00	48.13	98304.73	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
9.	DRREDDY	1161.00	30.07	96906.34	0.69	435.60	-69.10	8099.80	-5.21	13.75	10.63
10.	AUROPHARMA	1656.30	25.67	95299.84	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
11.	GLENMARK	2451.70	38.49	69193.02	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	FERMENTA	522.75	25.44	1538.50	0.72	9.53	-55.87	121.82	-10.60	21.99	14.82

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	77	51	89	90	73	90	146	122	119	107	114	110	112
	64	63	63	81	71	74	96	89	96	84	91	88	97
Operating Profit	13	-30	26	9	2	15	50	33	23	23	19	40	23
OPM %	17.18%	-57.71%	29.65%	9.96%	2.49%	17.30%	34.28%	26.78%	18.94%	21.43%	16.85%	36.39%	20.54%
Other Income	2	2	3	2	3	3	2	4	9	6	3	6	5
Interest	5	4	5	3	3	4	4	3	3	3	3	3	3
Depreciation	6	6	6	6	6	6	6	6	6	5	5	5	5
	5	-28	18	1	-5	9	42	28	23	21	17	29	20
Tax %	0.00%	-0.00%	34.20%	993.83%	-0.00%	7.90%	17.55%	-4.79%	28.57%	29.13%	29.11%	26.03%	25.61%
Net Profit	5	-28	12	-7	-5	8	35	29	16	15	12	22	15
	2	-10	4	-3	-2	3	12	10	6	5	4	5	1
Equity Capital	14	14	14	14	14	14	15	15	15	15	14	14	14
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	6	13	405	301	373	388	329	307	431	450	443
	14	24	277	232	278	311	290	270	331	359	360
Operating Profit	-8	-9	154	83	101	84	47	45	112	116	—
OPM %	-146	-72	38	28	27	22	14	15	26	26	—
Other Income	1	2	26	14	7	8	8	8	13	24	20
Interest	6	11	21	20	19	18	21	17	15	12	11
Depreciation	3	4	12	15	19	24	24	24	23	21	21
	-18	-23	121	48	63	43	-58	-5	74	89	87
Tax %	-2	-3	9	-34	18	29	2	-307	9	28	27
Net Profit	-18	-24	110	64	52	30	-57	-19	68	64	63
EPS	-80	-26	0	0	18	10	-20	-6	23	22	—
Dividend Payout %	-3	-2	1	23	14	12	-6	-19	11	17	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	-7	-9	40	22	18	10	-20	-6	23	22	—

COMPOUNDED SALES GROWTH

10 Years:: 54%
5 Years:: 4%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 4%
3 Years:: —

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 4%
3 Years:: 10%
Last Year:: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	2	2	5	14	14	14	14	14	15	14
	87	62	244	292	344	367	308	287	365	405
	10	11	73	119	119	121	133	67	81	91
Trade Payables	1	2	43	47	46	46	52	53	64	64
	45	145	166	99	196	213	159	151	116	59
Total Liabilities	146	223	532	572	719	762	667	573	641	634
ASSETS	-	-	-	-	-	-	-	-	-	-
	8	12	104	126	250	220	228	261	223	217
Capital Work in Progress	1	0	21	67	53	30	42	2	16	13
	31	108	76	72	13	13	15	4	4	12
	0	0	88	114	133	130	110	79	94	131
	0	0	0	0	0	0	0	77	120	137
Cash & Bank	1	2	91	32	41	31	55	57	62	18
	104	101	153	161	230	339	217	94	122	107
Total Assets	146	223	532	572	719	762	667	573	641	634
Total Debt	44	143	209	220	229	236	217	132	109	109
Net Working Capital	-10	-13	138	97	115	129	41	77	122	168
Contingent Liabilities	0	0	1	3	3	3	3	3	5	5
Book Value per Share	390.74	282.22	260.06	106.26	124.26	132.17	111.86	104.42	130.16	146.35
Face Value	10.00	10.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00	5.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-9	1	91	30	63	50	124	105	34	83
Cash from Investing	20	-89	-97	-39	-44	-32	-64	-15	0	-44
Cash from Financing	-13	88	12	-48	-1	-22	-41	-91	-51	-42
	-2	1	6	-57	18	-4	19	-1	-17	-4
Free Cash Flow	-9	-2	-45	-51	-75	50	85	88	34	71
OCF / Net Profit	0.50	-0.05	0.82	0.47	1.21	1.67	-2.17	-5.60	0.50	1.29
Cumulative 5-Year FCF	0	0	0	0	-182	-123	-35	97	182	329

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	-79.81	-105.33	120.30	22.07	18.01	10.48	-19.75	-6.49	23.18	22.42
Book Value (₹)	390.74	282.22	260.06	106.26	124.26	132.17	111.86	104.42	130.16	146.35
Dividend per Share (₹)	2.50	2.50	1.25	5.00	2.50	1.25	1.25	1.25	2.50	3.75
Cash EPS (₹)	-5.40	-7.39	44.41	27.25	24.61	18.69	-11.27	1.72	31.12	29.72
PROFITABILITY
Operating Margin %	-145.71%	-71.98%	38.12%	27.54%	27.19%	21.74%	14.43%	12.16%	23.17%	20.36%
Net Margin %	-331.84%	-193.11%	27.27%	21.19%	13.94%	7.79%	-17.33%	-6.10%	15.71%	14.28%
ROE %	-21.25%	-31.30%	72.78%	23.36%	15.63%	8.18%	-16.19%	-6.00%	19.85%	16.09%
ROCE %	-8.47%	-7.52%	43.46%	13.83%	14.54%	9.85%	-6.18%	2.56%	19.07%	19.90%
	-12.40%	-13.12%	29.26%	11.54%	8.05%	4.08%	-7.98%	-3.02%	11.14%	10.08%
EFFICIENCY
Debtor Days	14	10	30	87	85	101	103	86	84	104
Inventory Days	0	0	79	122	121	123	133	112	73	91
Payable Days	0	0	89	200	137	116	141	182	146	152
	14	10	19	9	68	109	95	16	11	44
FINANCIAL HEALTH
Debt to Equity (x)	0.49x	2.21x	0.87x	0.72x	0.64x	0.62x	0.67x	0.44x	0.29x	0.26x
Interest Coverage (x)	-1.77x	-1.21x	6.69x	3.35x	4.31x	3.35x	-1.72x	0.74x	6.02x	8.21x
	0.48x	0.28x	1.88x	1.52x	1.54x	1.62x	1.17x	1.43x	1.53x	1.88x
GROWTH
Revenue Growth %	-10.10%	126.79%	3135.24%	-25.74%	24.06%	4.06%	-15.22%	-6.64%	40.20%	4.58%
Operating Profit Growth %	-47.16%	-12.04%	1813.40%	-46.36%	22.48%	-16.79%	-43.74%	-4.14%	147.17%	2.81%
Net Profit Growth %	-100.30%	-31.98%	556.86%	-42.30%	-18.38%	-41.82%	-288.52%	67.12%	460.74%	-4.93%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	67.14%	457.10%	-3.28%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	11.80x	14.23x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.45x	2.10x	2.18x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.83%	0.91%	1.18%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	11.27x	7.52x	8.70x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.06	62.06	62.06	64.09	64.09	64.09	64.09	64.09	64.09
	0.00	0.05	0.02	0.02	0.02	0.02	0.02	0.02	0.13
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.04
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	37.94	37.89	37.91	35.89	35.89	35.89	35.89	35.89	35.75

Documents

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

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Fermenta Biotech Limited has informed the Exchange about Schedule of investor(s) meeting(s) to held on September 03 2026.

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Fermenta Biotech Limited has informed the Exchange about Copy of Newspaper Publication pertaining to notice for Special Window for Transfer and Dematerialisation of Physical Securities.

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Fermenta Biotech Limited has informed the Exchange about Schedule of investor(s) meeting to be held on August 21, 2026.

2026-08-17

Credit Rating- Revision

2026-08-17 - Fermenta Biotech Limited has informed the Exchange about Revision in Credit Rating.

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Fermenta Biotech Limited has informed the Exchange about Copy of Newspaper Publication pertaining to unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026.

2026-08-11

General Updates

2026-08-11 - Fermenta Biotech Limited has informed the Exchange about Declaration of Voting Results of the 74th Annual General Meeting.

2026-08-11

Shareholders meeting

2026-08-11 - Fermenta Biotech Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-11

Shareholders meeting

2026-08-11 - Fermenta Biotech Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026

2026-08-11

General Updates

2026-08-11 - Fermenta Biotech Limited has informed the Exchange about presentation to be made for shareholders at 74th Annual General Meeting of the Company.

News

Recent coverage and analyst commentary for FERMENTA

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Name

SUNPHARMA

1933.00

38.34

463791.45

0.83

2901.23

26.53

15299.88

10.98

19.11

28.81

DIVISLAB

9232.00

83.79

245080.59

0.33

902.00

65.50

3080.00

27.80

21.51

40.75

TORNTPHARM

5004.40

87.28

190351.29

0.76

566.00

3.28

4921.00

57.32

19.27

33.81

ZYDUSLIFE

1151.20

25.44

114832.64

0.09

990.20

-34.90

8017.00

23.97

21.39

24.54

CIPLA

1413.15

33.87

114162.52

0.92

785.55

-39.18

7119.28

4.13

16.00

16.73

LAURUSLABS

1863.00

92.06

100660.17

0.11

3620.70

2139.42

20263.10

1191.00

18.20

31.50

LUPIN

2152.60

17.80

98431.05

0.84

1416.98

16.01

8276.89

34.28

28.86

29.59

MANKIND

2380.00

48.13

98304.73

0.04

574.09

29.12

4030.59

12.89

13.24

26.30

DRREDDY

1161.00

30.07

96906.34

0.69

435.60

-69.10

8099.80

-5.21

13.75

10.63

AUROPHARMA

1656.30

25.67

95299.84

0.24

1032.03

25.22

9150.35

17.44

12.76

20.54

GLENMARK

2451.70

38.49

69193.02

0.10

482.83

927.88

4018.48

31.35

20.35

20.03

FERMENTA

522.75

25.44

1538.50

0.72

9.53

-55.87

121.82

-10.60

21.99

14.82

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

146

122

119

107

114

110

112

Operating Profit

-30

OPM %

17.18%

-57.71%

29.65%

9.96%

2.49%

17.30%

34.28%

26.78%

18.94%

21.43%

16.85%

36.39%

20.54%

Other Income

Interest

Depreciation

-28

-5

Tax %

0.00%

-0.00%

34.20%

993.83%

-0.00%

7.90%

17.55%

-4.79%

28.57%

29.13%

29.11%

26.03%

25.61%

Net Profit

-28

-7

-5

-10

-3

-2

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

405

301

373

388

329

307

431

450

443

277

232

278

311

290

270

331

359

360

Operating Profit

-8

-9

154

101

112

116

—

OPM %

-146

-72

—

Other Income

Interest

Depreciation

-18

-23

121

-58

-5

Tax %

-2

-3

-34

-307

Net Profit

-18

-24

110

-57

-19

EPS

-80

-26

-20

-6

—

Dividend Payout %

-3

-2

-6

-19

—

Minority Interest

Share of Associates

Adjusted EPS

-7

-9

-20

-6

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

244

292

344

367

308

287

365

405

119

121

133

Trade Payables

145

166

196

213

159

151

116

Total Liabilities

146

223

532

572

719

762

667

573

641

634

ASSETS

104

126

250

220

228

261

223

217

Capital Work in Progress

108

114

133

130

110

131

120

137

Cash & Bank

104

101

153

161

230

339

217

122

107

Total Assets

146

223

532

572

719

762

667

573

641

634

Total Debt

143

209

220

229

236

217

132

109

Net Working Capital

-10

-13

138

115

129

122

168

Contingent Liabilities

Book Value per Share

390.74

282.22

260.06

106.26

124.26

132.17

111.86

104.42

130.16

146.35

Face Value

10.00

5.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-9

124

105

Cash from Investing

-89

-97

-39

-44

-32

-64

-15

-44

Cash from Financing

-13

-48

-1

-22

-41

-91

-51

-42

-2

-57

-4

-1

-17

-4

Free Cash Flow

-9

-2

-45

-51

-75

OCF / Net Profit

0.50

-0.05

0.82

0.47

1.21

1.67

-2.17

-5.60

0.50

1.29

Cumulative 5-Year FCF

-182

-123

-35

182

329

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

-79.81

-105.33

120.30

22.07

18.01

10.48

-19.75

-6.49

23.18

22.42

Book Value (₹)

390.74

282.22

260.06

106.26

124.26

132.17

111.86

104.42

130.16

146.35

Dividend per Share (₹)

2.50

1.25

5.00

2.50

1.25

2.50

3.75

Cash EPS (₹)

-5.40

-7.39

44.41

27.25

24.61

18.69

-11.27

1.72

31.12

29.72

PROFITABILITY

Operating Margin %

-145.71%

-71.98%

38.12%

27.54%

27.19%

21.74%

14.43%

12.16%

23.17%

20.36%

Net Margin %

-331.84%

-193.11%

27.27%

21.19%

13.94%

7.79%

-17.33%

-6.10%

15.71%

14.28%

ROE %

-21.25%

-31.30%

72.78%

23.36%

15.63%

8.18%

-16.19%

-6.00%

19.85%

16.09%

ROCE %

-8.47%

-7.52%

43.46%

13.83%

14.54%

9.85%

-6.18%

2.56%

19.07%

19.90%

-12.40%

-13.12%

29.26%

11.54%

8.05%

4.08%

-7.98%

-3.02%

11.14%

10.08%

EFFICIENCY

Debtor Days

101

103

104

Inventory Days

122

121

123

133

112

Payable Days

200

137

116

141

182

146

152

109

FINANCIAL HEALTH

Debt to Equity (x)

0.49x

2.21x

0.87x

0.72x

0.64x

0.62x

0.67x

0.44x

0.29x

0.26x

Interest Coverage (x)

-1.77x

-1.21x

6.69x

3.35x

4.31x

3.35x

-1.72x

0.74x

6.02x

8.21x

0.48x

0.28x

1.88x

1.52x

1.54x

1.62x

1.17x

1.43x

1.53x

1.88x

GROWTH

Revenue Growth %

-10.10%

126.79%

3135.24%

-25.74%

24.06%

4.06%

-15.22%

-6.64%

40.20%

4.58%

Operating Profit Growth %

-47.16%

-12.04%

1813.40%

-46.36%

22.48%

-16.79%

-43.74%

-4.14%

147.17%

2.81%

Net Profit Growth %

-100.30%

-31.98%

556.86%

-42.30%

-18.38%

-41.82%

-288.52%

67.12%

460.74%

-4.93%

0.00%

67.14%

457.10%

-3.28%

VALUATION

P/E (x)

0.00x

11.80x

14.23x

P/B (x)

0.00x

1.45x

2.10x

2.18x

Dividend Yield %

0.00%

0.83%

0.91%

1.18%

0.00x

11.27x

7.52x

8.70x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

62.06

64.09

0.00

0.05

0.02

0.13

0.00

0.04

Government

0.00

37.94

37.89

37.91

35.89

35.75

Fermenta Biotech Ltd.

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Fermenta Biotech 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