NGL Fine-Chem Ltd.
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ABOUT
AI Sector View
AI GENERATEDHealthcare
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.
PROS
- Latest quarter profit grew 115.3% YoY, showing strong momentum
- Working capital cycle has improved - days down from 116 to 91
- Company comfortably covers its interest (11.9x coverage)
- Company has a consistent dividend-paying track record
- Company maintains a comfortable, low leverage position
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (27.2% of PBT)
- Free cash flow has been persistently negative
- Total debt has risen sharply - up 59.7% year on year
- Company has delivered a poor profit growth of -5.6% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| 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 |
| NGLFINE | 2688.95 | 29.04 | 1661.24 | 0.07 | 18.40 | 99.08 | 139.16 | 33.57 | 16.88 | 16.73 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 69 | 79 | 85 | 96 | 88 | 91 | 87 | 93 | 101 | 117 | 126 | 145 | 137 | |
| 62 | 66 | 74 | 83 | 82 | 81 | 83 | 89 | 93 | 103 | 106 | 127 | 122 | |
| Operating Profit | 8 | 13 | 11 | 13 | 6 | 11 | 4 | 4 | 8 | 14 | 20 | 18 | 20 |
| OPM % | 11.00% | 16.54% | 12.92% | 13.18% | 7.17% | 11.62% | 4.10% | 4.20% | 7.76% | 11.69% | 15.90% | 12.17% | 14.47% |
| Other Income | 4 | 4 | 4 | 4 | 6 | 5 | 0 | -1 | 7 | 2 | 5 | 3 | 7 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 4 | 4 |
| 9 | 15 | 13 | 14 | 10 | 13 | 1 | -0 | 10 | 11 | 19 | 15 | 22 | |
| Tax % | 14.85% | 24.45% | 30.47% | 23.81% | 21.80% | 25.24% | 3.70% | -44.44% | 21.30% | 25.89% | 23.95% | 23.66% | 24.35% |
| Net Profit | 8 | 11 | 9 | 11 | 8 | 10 | 1 | -1 | 8 | 8 | 15 | 11 | 16 |
| 13 | 18 | 14 | 18 | 13 | 16 | 1 | -1 | 12 | 13 | 24 | 18 | 3 | |
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 100 | 114 | 153 | 152 | 258 | 319 | 275 | 329 | 359 | 489 | 525 | |
| 74 | 92 | 121 | 131 | 181 | 253 | 246 | 284 | 333 | 428 | 459 | |
| Operating Profit | 27 | 24 | 36 | 24 | 86 | 79 | 36 | 61 | 36 | 76 | — |
| OPM % | 27 | 21 | 24 | 16 | 33 | 25 | 13 | 18 | 10 | 16 | — |
| Other Income | 1 | 3 | 4 | 3 | 9 | 13 | 8 | 16 | 10 | 15 | 17 |
| Interest | 1 | 2 | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 5 | 4 |
| Depreciation | 3 | 5 | 6 | 7 | 7 | 8 | 8 | 8 | 9 | 16 | 17 |
| 23 | 18 | 28 | 14 | 76 | 69 | 27 | 51 | 24 | 55 | 67 | |
| Tax % | 35 | 29 | 27 | 26 | 27 | 24 | 24 | 24 | 24 | 24 | 24 |
| Net Profit | 15 | 13 | 20 | 11 | 55 | 52 | 20 | 39 | 18 | 42 | 50 |
| EPS | 0 | 0 | 0 | 17 | 90 | 85 | 33 | 62 | 29 | 67 | — |
| Dividend Payout % | 0 | 0 | 5 | 10 | 2 | 2 | 5 | 3 | 6 | 3 | — |
| 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 | 24 | 20 | 33 | 17 | 90 | 85 | 33 | 62 | 29 | 67 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 18%
- 5 Years:
- 14%
- 3 Years:
- 21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 14%
- 5 Years:
- -6%
- 3 Years:
- 27%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 11%
- 1 Year:
- 99%
RETURN ON EQUITY
- 10 Years:
- 20%
- 5 Years:
- 15%
- 3 Years:
- 12%
- Last Year:
- 14%
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 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| 56 | 69 | 89 | 98 | 152 | 203 | 222 | 260 | 277 | 317 | |
| 11 | 11 | 15 | 15 | 5 | 23 | 28 | 32 | 47 | 51 | |
| Trade Payables | 14 | 24 | 16 | 21 | 27 | 35 | 23 | 47 | 48 | 60 |
| 26 | 26 | 26 | 19 | 19 | 13 | 11 | 11 | 57 | 111 | |
| Total Liabilities | 111 | 133 | 149 | 156 | 206 | 278 | 288 | 353 | 432 | 542 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 25 | 56 | 61 | 61 | 58 | 59 | 59 | 60 | 120 | 144 | |
| Capital Work in Progress | 16 | 3 | 0 | 0 | 1 | 6 | 26 | 46 | 50 | 95 |
| 6 | 6 | 9 | 14 | 33 | 32 | 43 | 57 | 63 | 43 | |
| 12 | 17 | 19 | 28 | 38 | 55 | 27 | 43 | 49 | 68 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 83 | 80 | 125 | |
| Cash & Bank | 2 | 4 | 3 | 3 | 5 | 1 | 13 | 2 | 5 | 3 |
| 50 | 47 | 58 | 49 | 72 | 124 | 119 | 63 | 65 | 65 | |
| Total Assets | 111 | 133 | 149 | 156 | 206 | 278 | 288 | 353 | 432 | 542 |
| Total Debt | 23 | 27 | 27 | 28 | 16 | 30 | 32 | 34 | 76 | 122 |
| Net Working Capital | 20 | 16 | 41 | 40 | 84 | 107 | 103 | 119 | 115 | 121 |
| Contingent Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book Value per Share | 96.16 | 116.61 | 149.11 | 163.81 | 251.62 | 334.36 | 365.04 | 425.39 | 452.60 | 517.86 |
| Face Value | 5.00 | 5.00 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 22 | 9 | 20 | 27 | 16 | 32 | 11 | 22 | 35 | |
| Cash from Investing | -10 | -21 | -10 | -19 | -24 | -16 | -24 | -17 | -58 | -65 |
| Cash from Financing | 0 | 0 | 0 | -1 | -1 | -1 | -1 | -1 | 36 | 30 |
| -0 | 1 | -1 | -0 | 2 | -1 | 7 | -7 | 0 | 0 | |
| Free Cash Flow | 5 | -1 | 2 | 12 | 22 | 3 | 4 | -16 | -51 | -48 |
| OCF / Net Profit | 0.67 | 1.77 | 0.44 | 1.85 | 0.48 | 0.30 | 1.58 | 0.29 | 1.21 | 0.83 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 41 | 39 | 43 | 25 | -38 | -108 |
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 (₹) | 24.09 | 20.45 | 32.58 | 17.16 | 89.79 | 84.57 | 32.57 | 62.35 | 29.35 | 67.39 |
| Book Value (₹) | 96.16 | 116.61 | 149.11 | 163.81 | 251.62 | 334.36 | 365.04 | 425.39 | 452.60 | 517.86 |
| Dividend per Share (₹) | 0.00 | 0.00 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 |
| Cash EPS (₹) | 29.08 | 27.83 | 42.78 | 28.92 | 101.75 | 96.99 | 45.35 | 75.54 | 44.35 | 93.77 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 25.26% | 20.91% | 23.77% | 15.93% | 33.15% | 24.65% | 13.21% | 13.61% | 7.40% | 12.50% |
| Net Margin % | 13.98% | 10.92% | 13.14% | 6.97% | 21.48% | 16.40% | 7.31% | 11.71% | 5.05% | 8.52% |
| ROE % | 28.73% | 19.22% | 24.52% | 10.97% | 43.22% | 28.86% | 9.31% | 15.78% | 6.69% | 13.89% |
| ROCE % | 33.80% | 21.68% | 27.63% | 13.65% | 51.90% | 34.71% | 11.50% | 18.93% | 8.29% | 14.96% |
| 15.79% | 10.34% | 14.25% | 6.96% | 30.70% | 21.61% | 7.11% | 12.02% | 4.62% | 8.55% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 107 | 91 | 72 | 71 | 45 | 59 | 86 | 82 | 83 | 77 |
| Inventory Days | 37 | 45 | 42 | 56 | 46 | 53 | 54 | 39 | 47 | 44 |
| Payable Days | 123 | 145 | 111 | 97 | 74 | 65 | 71 | 83 | 94 | 82 |
| 22 | -9 | 4 | 29 | 18 | 46 | 70 | 38 | 35 | 39 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.38x | 0.37x | 0.29x | 0.28x | 0.11x | 0.15x | 0.14x | 0.13x | 0.27x | 0.38x |
| Interest Coverage (x) | 23.73x | 11.11x | 11.82x | 6.47x | 35.49x | 37.07x | 15.55x | 29.10x | 8.51x | 11.86x |
| 1.52x | 1.35x | 1.91x | 1.93x | 3.15x | 2.69x | 2.81x | 2.41x | 2.01x | 1.77x | |
| GROWTH | ||||||||||
| Revenue Growth % | 3.56% | 13.97% | 34.77% | -0.65% | 69.65% | 23.43% | -13.69% | 19.60% | 9.22% | 36.04% |
| Operating Profit Growth % | 21.39% | -10.09% | 50.58% | -33.43% | 253.09% | -8.22% | -53.76% | 66.99% | -40.11% | 109.05% |
| Net Profit Growth % | 30.60% | -15.14% | 59.33% | -47.32% | 423.12% | -5.81% | -61.49% | 91.46% | -52.93% | 129.61% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 91.46% | -52.93% | 129.61% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 33.52x | 37.97x | 30.73x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.91x | 2.46x | 4.00x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.16% | 0.08% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 21.82x | 20.91x | 18.41x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-27 - NGL Fine-Chem Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 25, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-25 - NGL Fine-Chem Limited has informed the Exchange regarding Proceedings of undefined held on August 25, 2026
2026-08-20 - NGL Fine-Chem Limited has informed the Exchange regarding Corrigendum to the 45th Annual Report for the Financial Year 2025-2026
2026-08-17 - NGL Fine-Chem Limited has informed the Exchange about Investor Presentation
2026-08-14 - NGL Fine-Chem Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - NGL Fine-Chem Limited has informed the Exchange regarding 'Board comments on fines levied by the Exchanges'.
2026-08-12 - Outcome of Board Meeting
2026-08-12 - NGL Fine-Chem Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-04 - NGL Fine-Chem Limited has informed the Exchange about Copy of Newspaper Publication regarding Notice of 45th Annual General Meeting, Book Closure and E-voting Information Post Dispatch
News
Recent coverage and analyst commentary for NGLFINE
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