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Ipca Laboratories Ltd.

•
ipca.comBSE: 524494NSE: IPCALAB
Market Cap₹ 49,967 Cr.
Current Price
High / Low₹ 2,002 / 1,252
Stock P/E38.1
Book Value₹ 334
Price to Book5.05
Dividend Yield0.30 %
ROCE19.4 %
ROE15.9 %
Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Branded Generics: 52.1% • Active Pharmaceutical Ingredients (APIs): 26.2% • Generic: 21.7%

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

  • Company is almost debt free
  • Company has consistently been profitable over the last 5 years
  • Latest quarter profit grew 82.2% YoY, showing strong momentum
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.36x)
  • Operating margins have improved to 20.3% from 16.9%

CONS

  • Company has delivered a poor profit growth of 0.7% over past five years
  • Recurring exceptional / one-off items are inflating headline profit
  • Stock is trading at 5.0x its book value
  • Though reporting repeated profits, the company pays out little dividend (13.3%)

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

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs
Part ofNIFTY PHARMANIFTYLARGEMIDCAP250NIFTYMIDCAP150NIFTY MIDCAP 150NIFTY TOTAL MKT
S.No.Name
1.SUNPHARMA1842.0036.54441957.500.872901.2326.5315299.8810.9819.1128.81
2.DIVISLAB9326.0084.64247576.000.32902.0065.503080.0027.8021.5140.75
3.TORNTPHARM4975.0086.76189233.010.76566.003.284921.0057.3219.2733.81
4.ZYDUSLIFE1119.5024.74111670.550.09990.20-34.908017.0023.9721.3924.54
5.CIPLA1365.0032.72110272.680.95785.55-39.187119.284.1316.0016.73
6.LAURUSLABS1970.3597.37106460.420.10362.07123.942026.3129.1018.2031.50
7.DRREDDY1161.0030.0796906.380.69435.60-69.108099.80-5.2113.7510.63
8.AUROPHARMA1675.4525.9796401.690.241032.0325.229150.3517.4412.7620.54
9.LUPIN2096.0017.3495842.920.861416.9816.018276.8934.2828.8629.59
10.MANKIND2277.0046.0494050.370.04574.0929.124030.5912.8913.2426.30
11.GLENMARK2416.9037.9468210.880.10482.83927.884018.4831.3520.3520.03
12.IPCALAB1969.5038.1549967.050.30424.2782.182788.1020.7619.4124.07
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,5852,0342,0532,0332,0932,3552,2452,2472,3092,5562,3922,3882,788
1,2771,6731,7221,7111,7001,9131,7821,8181,8922,0121,8591,9052,241
Operating Profit308361331322393441463429416545533484547
OPM %19.42%17.73%16.12%15.83%18.77%18.75%20.62%19.09%18.04%21.32%22.29%20.26%19.61%
45-191-118212620-17933-30384825
Interest31443329242317221920182012
Depreciation6990100989910098100100103108107111
Profit before Tax25222528977290345368128331392446404574
Tax %34.00%39.01%22.93%96.20%31.48%28.82%24.62%48.61%29.07%27.60%18.37%23.50%26.03%
Net Profit000019924627664233281364307424
6.425.727.092.357.589.059.782.679.1911.1412.0911.7915.84

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
3,1563,2583,7464,6195,3955,7976,2047,6628,8979,59910,126
2,7412,8163,0673,7293,9144,5395,3016,3987,2267,6458,017
Operating Profit4154426788901,4811,2589031,2641,6711,9542,109
OPM %13.16%13.57%18.11%19.28%27.46%21.70%14.56%16.50%18.78%20.36%20.83%
5558758612912215277-5411581
Interest27282220121148141887969
Depreciation173178182210209232262357398418429
Profit before Tax2622915467391,3891,1367458431,1311,5731,816
Tax %25.77%17.59%19.08%18.32%17.29%19.79%33.99%37.20%30.38%24.24%23.92%
Net Profit1952394426041,1499114925297881,1911,381
EPS15.4218.9735.0147.7390.1134.8518.5821.5729.0844.98—
Dividend Payout %6.49%5.27%8.51%10.42%8.90%11.48%21.53%18.54%13.76%13.34%—

COMPOUNDED SALES GROWTH

10 Years:
13%
5 Years:
12%
3 Years:
16%

COMPOUNDED PROFIT GROWTH

10 Years:
28%
5 Years:
0%
3 Years:
34%

STOCK PRICE CAGR

10 Years:
21%
5 Years:
9%
3 Years:
30%
1 Year:
50%

RETURN ON EQUITY

10 Years:
14%
5 Years:
13%
3 Years:
12%
Last Year:
16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 7

₹ 6

Rs.6.0000 per share(600%)Dividend

2025

Aug 5

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2024

Nov 27

₹ 2

Interim Dividend

2024

Aug 6

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2023

Nov 22

₹ 2

Interim Dividend

2022

Nov 22

₹ 4

Interim Dividend

2021

Nov 22

₹ 4

Interim Dividend

2020

Nov 13

₹ 4

Interim Dividend

2020

Feb 18

₹ 2.50

Interim Dividend

2018

Aug 2

₹ 0.50

Rs.1.0000 per share(50%)Dividend

2017

Jul 27

₹ 0.50

Rs.1.0000 per share(50%)Dividend

2026

Jul 13

₹ 6

10/09/2026 Equity Rs.6.0000 per share(600%)Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital25252525252525252525
Minority Interest0016141577731,3951,4401,460
2,4302,6633,0973,5904,6765,4395,8176,3056,9208,035
6726244674782498051,4751,1811,090614
Trade Payables397423524610665558525776846940
4353804205414367177081,4151,4221,275
Total Liabilities3,9604,1164,5495,2586,0667,6228,62311,09711,74412,350
1,9831,9531,9402,0592,0722,4022,7514,5544,2674,627
Capital Work in Progress62423671184294122324616762
13687120310505989626862980844
8828811,0721,3231,5951,8581,7432,4712,5602,731
00000001,6871,8842,014
Cash & Bank361512821813656411,853297344565
8601,0031,0971,3151,3451,4371,5279031,092808
Total Assets3,9604,1164,5495,2586,0667,6228,62311,09711,74412,350

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
3333996127231,3361,0581,0299451,3211,142
Cash from Investing-149-135-165-510-521-855-725-1,292-870-247
Cash from Financing-159-130-183-137-306427507-553-283-754
-2675153-76264428588-900169142

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
46.3046.3044.7244.7244.7244.7244.7244.7244.72
10.8510.8311.0610.7510.6710.4210.6310.6310.72
33.4633.9035.3635.7335.8836.4537.0037.1337.04
Government0.000.000.000.000.000.000.000.000.00
9.078.658.538.468.418.087.337.207.18

Documents

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

2026-08-17
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - IPCA Laboratories Limited has informed the Exchange about Transcript

2026-08-14
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - IPCA Laboratories Limited has informed the Exchange about Link of Recording

2026-08-14
Copy of Newspaper Publication

2026-08-14 - IPCA Laboratories Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14
Shareholders meeting

2026-08-14 - IPCA Laboratories Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-13
Shareholders meeting

2026-08-13 - IPCA Laboratories Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 13, 2026

2026-08-13
Outcome of Board Meeting

2026-08-13 - IPCA Laboratories Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-06
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-06 - IPCA Laboratories Limited has informed the Exchange about Schedule of meet

2026-07-17
Updates

2026-07-17 - IPCA Laboratories Limited has informed the Exchange regarding ''.Intimation to non-email cases regarding weblink of Annual Report'

2026-07-15
Copy of Newspaper Publication

2026-07-15 - IPCA Laboratories Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for IPCALAB

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