Natural Capsules Ltd.

•

naturalcapsules.comBSE: 524654NSE: NATCAPSUQ

Market Cap₹ 220 Cr.

Current Price

High / Low₹ 296 / 136

Stock P/E—

Book Value₹ 206

Price to Book0.68

Dividend Yield0.00 %

ROCE-4.8 %

ROE-10.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Capsules: 92.8% • API: 7.2%

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 has delivered good sales growth of 18.7% CAGR over last 5 years
Working capital cycle has improved - days down from 64 to 8

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -2.4% over last 3 years
Company has a low return on capital employed of 1.0%
Promoter holding has decreased over last 2 years: -5.6pp
Interest coverage is weak at -1.4x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.59x)

* 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	1899.80	37.69	455825.66	0.84	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9305.00	84.45	247018.51	0.32	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4913.00	85.68	186874.73	0.77	566.00	3.28	4921.00	57.32	19.27	33.81
4.	ZYDUSLIFE	1155.00	25.53	115211.69	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
5.	CIPLA	1395.95	33.46	112773.00	0.93	785.55	-39.18	7119.28	4.13	16.00	16.73
6.	LAURUSLABS	1868.25	92.32	100943.83	0.11	362.07	123.94	2026.31	29.10	18.20	31.50
7.	LUPIN	2105.00	17.41	96254.46	0.86	1416.98	16.01	8276.89	34.28	28.86	29.59
8.	MANKIND	2322.05	46.95	95911.14	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
9.	DRREDDY	1145.00	29.66	95570.85	0.70	435.60	-69.10	8099.80	-5.21	13.75	10.63
10.	AUROPHARMA	1658.00	25.70	95397.65	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
11.	GLENMARK	2462.00	38.65	69483.71	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	NATCAPSUQ	211.50	17.30	220.20	0.00	-5.74	-2.94	48.71	7.77	-4.85	2.30

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
	38	38	40	40	39	41	44	45	45	46	38	58	49
	32	32	35	36	35	37	40	41	45	47	40	57	57
Operating Profit	6	5	5	4	4	4	4	4	0	-1	-2	1	-8
OPM %	15.81%	13.67%	11.81%	10.22%	11.13%	10.92%	9.74%	9.74%	0.71%	-1.94%	-6.15%	2.28%	-16.80%
	0	0	0	1	0	0	0	0	0	0	0	1	2
Interest	1	1	1	1	1	2	2	2	3	3	3	3	5
Depreciation	2	2	2	2	2	2	2	2	4	4	4	4	4
Profit before Tax	3	2	2	1	1	1	0	1	-6	-8	-9	-5	-6
Tax %	32.34%	27.10%	32.96%	32.87%	23.08%	198.39%	80.00%	41.57%	7.92%	9.22%	21.70%	1.97%	1.53%
Net Profit	0	0	0	0	1	-1	0	1	-6	-7	-7	-5	-6
	1.96	1.67	1.29	1.31	0.65	-0.60	0.10	0.13	-5.40	-6.76	-6.88	-4.82	-5.55

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	55	60	62	80	135	172	155	169	187	191
	49	55	56	68	111	138	137	152	190	201
Operating Profit	6	5	5	11	24	34	18	18	-3	-10
OPM %	10.11%	8.45%	8.85%	13.96%	17.98%	19.91%	11.86%	10.42%	-1.38%	-5.28%
	1	1	1	3	2	2	4	1	3	4
Interest	0	1	1	1	2	4	5	7	12	13
Depreciation	4	3	4	4	5	7	9	9	17	17
Profit before Tax	2	2	1	9	19	25	8	3	-28	-28
Tax %	33.95%	7.16%	37.44%	24.50%	28.23%	26.19%	31.03%	77.88%	11.66%	10.36%
Net Profit	1	2	1	7	14	18	6	1	-25	-25
EPS	0.00	0.00	0.00	7.32	19.56	19.86	5.95	0.60	-23.75	—
Dividend Payout %	56.09%	32.45%	43.61%	9.10%	5.11%	5.03%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

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

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: 6%
3 Years:: -2%
Last Year:: -11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	7	9	9	10	10
Minority Interest	0	0	0	0	0	25	25	24	13
	48	49	49	56	76	114	194	222	210
	0	7	6	10	51	93	98	94	100
Trade Payables	12	8	7	16	16	27	30	39	55
	5	3	6	9	14	20	19	30	32
Total Liabilities	71	73	75	97	164	289	377	419	422
	22	24	24	38	66	97	103	284	274
Capital Work in Progress	1	2	2	7	20	88	144	0	4
	5	5	6	0	0	0	3	3	3
	8	4	5	7	5	9	19	25	26
	0	0	0	0	0	0	54	62	71
Cash & Bank	1	1	1	2	5	7	13	5	5
	34	36	37	44	68	89	40	40	38
Total Assets	71	73	75	97	164	289	377	419	422

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	3	8	8	4	23	-8	27	11
Cash from Investing	-1	-7	-6	-9	-46	-105	-73	-44	-11
Cash from Financing	-4	4	-1	3	48	87	82	16	-1
	0	-1	0	-0	1	0	1	-2	-0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.56	51.60	51.14	51.21	51.26	51.26	51.26	51.04	50.92
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	43.26	48.40	48.86	48.79	48.74	48.74	48.74	48.96	49.08

Documents

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

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Natural Capsules Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Corrigendum

2026-09-02 - Natural Capsules Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting

2026-09-02

Outcome of Board Meeting

2026-09-02 - Natural Capsules Limited has informed the Exchange regarding Outcome of Board Meeting held on September 02, 2026.

2026-08-19

Copy of Newspaper Publication

2026-08-19 - Natural Capsules Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-19

Copy of Newspaper Publication

2026-08-19 - Natural Capsules Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18

Record Date

2026-08-18 - Natural Capsules Limited has informed the Exchange that Record date for the purpose of Meeting is 02-Sep-2026.

2026-08-18

Shareholders meeting

2026-08-18 - Natural Capsules Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on September 09, 2026

2026-08-17

Disclosure of material issue

2026-08-17 - Natural Capsules Limited has informed regarding Disclosure of material issue

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Natural Capsules Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for NATCAPSUQ

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Natural Capsules Ltd.

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Name

SUNPHARMA

1899.80

37.69

455825.66

0.84

2901.23

26.53

15299.88

10.98

19.11

28.81

DIVISLAB

9305.00

84.45

247018.51

0.32

902.00

65.50

3080.00

27.80

21.51

40.75

TORNTPHARM

4913.00

85.68

186874.73

0.77

566.00

3.28

4921.00

57.32

19.27

33.81

ZYDUSLIFE

1155.00

25.53

115211.69

0.09

990.20

-34.90

8017.00

23.97

21.39

24.54

CIPLA

1395.95

33.46

112773.00

0.93

785.55

-39.18

7119.28

4.13

16.00

16.73

LAURUSLABS

1868.25

92.32

100943.83

0.11

362.07

123.94

2026.31

29.10

18.20

31.50

LUPIN

2105.00

17.41

96254.46

0.86

1416.98

16.01

8276.89

34.28

28.86

29.59

MANKIND

2322.05

46.95

95911.14

0.04

574.09

29.12

4030.59

12.89

13.24

26.30

DRREDDY

1145.00

29.66

95570.85

0.70

435.60

-69.10

8099.80

-5.21

13.75

10.63

AUROPHARMA

1658.00

25.70

95397.65

0.24

1032.03

25.22

9150.35

17.44

12.76

20.54

GLENMARK

2462.00

38.65

69483.71

0.10

482.83

927.88

4018.48

31.35

20.35

20.03

NATCAPSUQ

211.50

17.30

220.20

0.00

-5.74

-2.94

48.71

7.77

-4.85

2.30

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

Operating Profit

-1

-2

-8

OPM %

15.81%

13.67%

11.81%

10.22%

11.13%

10.92%

9.74%

0.71%

-1.94%

-6.15%

2.28%

-16.80%

Interest

Depreciation

Profit before Tax

-6

-8

-9

-5

-6

Tax %

32.34%

27.10%

32.96%

32.87%

23.08%

198.39%

80.00%

41.57%

7.92%

9.22%

21.70%

1.97%

1.53%

Net Profit

-1

-6

-7

-5

-6

1.96

1.67

1.29

1.31

0.65

-0.60

0.10

0.13

-5.40

-6.76

-6.88

-4.82

-5.55

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

135

172

155

169

187

191

111

138

137

152

190

201

Operating Profit

-3

-10

OPM %

10.11%

8.45%

8.85%

13.96%

17.98%

19.91%

11.86%

10.42%

-1.38%

-5.28%

Interest

Depreciation

Profit before Tax

-28

Tax %

33.95%

7.16%

37.44%

24.50%

28.23%

26.19%

31.03%

77.88%

11.66%

10.36%

Net Profit

-25

EPS

0.00

7.32

19.56

19.86

5.95

0.60

-23.75

—

Dividend Payout %

56.09%

32.45%

43.61%

9.10%

5.11%

5.03%

0.00%

—

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

114

194

222

210

100

Trade Payables

Total Liabilities

164

289

377

419

422

103

284

274

Capital Work in Progress

144

Cash & Bank

Total Assets

164

289

377

419

422

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-8

Cash from Investing

-1

-7

-6

-9

-46

-105

-73

-44

-11

Cash from Financing

-4

-1

-0

-2

-0

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

56.56

51.60

51.14

51.21

51.26

51.04

50.92

FIIs

0.00

0.18

0.00

Government

0.00

43.26

48.40

48.86

48.79

48.74

48.96

49.08

Natural Capsules 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

Natural Capsules 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