Innova Captab Ltd.

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innovacaptab.comBSE: 544067NSE: INNOVACAP

Market Cap₹ 6,721 Cr.

Current Price

High / Low₹ 1,200 / 622

Stock P/E69.5

Book Value₹ 161

Price to Book4.44

Dividend Yield0.17 %

ROCE10.8 %

ROE9.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Drugs & Pharmaceutical Products: 100.0%

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

Latest quarter profit grew 57.9% YoY, showing strong momentum
Company has delivered good sales growth of 25.9% CAGR over last 5 years
Company comfortably covers its interest (8.3x coverage)
Company maintains a comfortable, low leverage position

CONS

Equity base is being diluted - shares outstanding up 19.2%
Expensive relative to growth - PEG of 5.2
Though reporting repeated profits, the company pays out little dividend (13.7%)
Rich enterprise valuation - EV/EBITDA of 25.8x

* 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	1899.00	37.67	455633.71	0.84	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9100.00	82.59	241576.41	0.33	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4850.00	84.58	184478.41	0.78	566.00	3.28	4921.00	57.32	19.27	33.81
4.	CIPLA	1385.00	33.19	111888.39	0.94	785.55	-39.18	7119.28	4.13	16.00	16.73
5.	ZYDUSLIFE	1121.00	24.78	111820.18	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
6.	LAURUSLABS	1840.00	90.93	99417.45	0.11	362.07	123.94	2026.31	29.10	18.20	31.50
7.	LUPIN	2111.00	17.46	96528.82	0.85	1416.98	16.01	8276.89	34.28	28.86	29.59
8.	DRREDDY	1154.00	29.89	96322.06	0.69	435.60	-69.10	8099.80	-5.21	13.75	10.63
9.	MANKIND	2328.55	47.09	96179.61	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
10.	AUROPHARMA	1653.30	25.62	95127.23	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
11.	GLENMARK	2427.00	38.10	68495.93	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	INNOVACAP	1174.45	43.00	6720.78	0.17	44.13	42.27	470.85	33.94	15.04	15.53

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
	219	212	236	198	227	240	249	243	287	290	364	358	400
	191	185	206	175	198	207	216	214	252	261	317	333	360
Operating Profit	28	26	31	23	28	33	32	28	35	29	47	25	40
OPM %	12.70%	12.41%	12.91%	11.81%	12.54%	13.81%	13.08%	11.62%	12.13%	10.12%	12.92%	7.05%	10.07%
	1	2	2	6	5	4	3	4	4	5	3	3	3
Interest	4	5	4	0	0	0	0	2	3	5	3	4	4
Depreciation	3	3	3	3	3	3	3	8	9	9	9	9	10
Profit before Tax	21	20	26	26	30	34	33	23	27	19	37	28	43
Tax %	28.66%	29.00%	26.89%	25.16%	25.41%	25.38%	25.54%	25.07%	25.65%	25.64%	25.26%	19.81%	25.50%
Net Profit	15	14	19	20	22	26	24	17	20	14	28	22	32
	3.19	3.02	3.26	3.45	3.90	4.48	4.26	2.99	3.55	2.50	4.88	3.91	5.60

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	357	373	411	785	859	865	958	1,299	1,412
	317	322	356	687	760	757	836	1,152	1,270
Operating Profit	40	51	54	99	99	108	122	147	142
OPM %	11.12%	13.64%	13.27%	12.54%	11.47%	12.48%	12.77%	11.30%	10.05%
	0	1	1	3	9	11	17	18	13
Interest	5	5	4	5	18	14	2	15	17
Depreciation	11	10	6	7	11	11	17	37	38
Profit before Tax	24	38	46	89	78	94	120	112	128
Tax %	20.17%	25.70%	25.56%	25.34%	26.50%	27.25%	25.37%	25.16%	24.20%
Net Profit	19	28	34	66	58	68	89	84	97
EPS	159.85	232.39	287.50	13.79	11.99	11.91	15.63	14.63	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.68%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 26%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 19%
3 Years:: 13%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 28%

RETURN ON EQUITY

10 Years:: —
5 Years:: 19%
3 Years:: 12%
Last Year:: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	12	12	12	12	48	57	57	57
	70	98	133	199	220	666	756	829
	66	54	46	177	245	233	302	293
Trade Payables	60	72	112	140	148	154	176	288
	20	18	67	29	58	69	93	97
Total Liabilities	228	254	370	556	719	1,180	1,384	1,564
	78	73	79	161	161	164	637	648
Capital Work in Progress	0	0	7	0	22	339	21	15
	0	0	0	60	60	60	60	101
	33	65	91	105	97	94	140	204
	0	0	0	0	0	217	249	330
Cash & Bank	1	5	12	2	15	86	68	2
	115	110	180	228	364	219	209	263
Total Assets	228	254	370	556	719	1,180	1,384	1,564

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	23	40	55	79	58	112	20	34
Cash from Investing	-9	-6	-20	-188	-88	-472	-100	-14
Cash from Financing	-10	-23	-19	125	51	368	84	-34
	-0	1	3	-5	3	8	4	-14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	159.85	232.38	287.50	551.48	11.99	11.91	15.63	14.63
Book Value (₹)	683.71	919.62	1206.84	1756.89	55.90	126.47	142.06	154.94
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.00
Cash EPS (₹)	6.22	7.91	8.35	15.33	14.21	13.90	18.61	21.15
PROFITABILITY
Operating Margin %	11.24%	13.96%	13.57%	12.90%	12.48%	12.47%	12.75%	11.23%
Net Margin %	5.38%	7.46%	8.38%	8.42%	6.69%	7.87%	9.33%	6.41%
ROE %	23.38%	28.99%	27.04%	37.22%	24.02%	13.74%	11.64%	9.85%
ROCE %	19.19%	26.58%	28.42%	32.59%	21.70%	14.62%	11.60%	10.84%
	8.43%	11.58%	11.06%	14.29%	9.02%	7.18%	6.98%	5.68%
EFFICIENCY
Debtor Days	97	89	100	73	86	94	89	81
Inventory Days	34	48	70	46	43	40	45	48
Payable Days	76	107	123	89	100	109	111	117
	55	29	47	30	29	26	22	12
FINANCIAL HEALTH
Debt to Equity (x)	0.87x	0.48x	0.31x	0.84x	0.88x	0.33x	0.40x	0.36x
Interest Coverage (x)	5.45x	9.11x	12.80x	17.63x	5.28x	7.89x	56.30x	8.25x
	1.44x	1.39x	1.26x	1.20x	1.46x	1.94x	1.77x	1.78x
GROWTH
Revenue Growth %	0.00%	4.63%	10.00%	91.27%	9.32%	0.73%	10.77%	35.57%
Operating Profit Growth %	0.00%	30.24%	6.94%	81.47%	5.82%	10.65%	17.18%	18.36%
Net Profit Growth %	0.00%	45.37%	23.72%	91.82%	-13.03%	18.43%	31.26%	-6.46%
	0.00%	0.00%	0.00%	0.00%	0.00%	-0.66%	31.26%	-6.46%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	37.62x	56.12x	47.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	3.54x	6.18x	4.44x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.29%
	0.00x	0.00x	0.00x	0.00x	0.00x	22.91x	37.97x	25.83x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.90	50.90	50.90	50.90	50.90	50.90	50.90	50.90
	1.01	0.74	0.35	0.23	0.07	0.10	0.23	0.34
	20.61	19.96	19.77	19.67	20.17	20.24	20.14	19.92
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.48	28.41	28.99	29.20	28.85	28.76	28.73	28.84

Documents

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

2026-09-05

Copy of Newspaper Publication

2026-09-05 - Innova Captab Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-05

General Updates

2026-09-05 - Innova Captab Limited has informed the Exchange about General Updates

2026-09-04

Shareholders meeting

2026-09-04 - Innova Captab Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Innova Captab Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

Outcome of Board Meeting

2026-09-03 - Innova Captab Limited has informed the Exchange regarding Outcome of Board Meeting held on September 03, 2026.

2026-08-23

Copy of Newspaper Publication

2026-08-23 - Innova Captab Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-22

General Updates

2026-08-22 - Pursuant to regulation 30 (read with part A of schedule III) and other applicable provisions ofSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )and with reference to the our letter dated 24th June, 2026 regarding postponement of22nd Annual General Meeting ( AGM ) of the Company and in continuation of intimation ofoutcome of the Board meeting of the Directors commenced on Friday, 21st August, 2026 at23:16 hours (IST) and concluded on Saturday, 22nd August, 2026 at 00:25 hours (IST), we wish toinform you that the Board of Directors has also approved the notice for calling 22nd AnnualGeneral Meeting ( AGM ) of the Company for the financial year 31st March, 2026. The 22nd AGMNotice along with the annual report will be submitted to the stock exchange(s) in due course oftime.

2026-08-22

Capacity addition

2026-08-22 - Innova Captab Limited has informed the Exchange about Capacity addition

2026-08-22

Outcome of Board Meeting

2026-08-22 - Innova Captab Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

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