Ipca Laboratories Ltd.
•₹ 1,911.20.58%
2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2022 • Branded Generics: 52.1% • Active Pharmaceutical Ingredients (APIs): 26.2% • Generic: 21.7%
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SUNPHARMA | 1898.00 | 37.65 | 455393.78 | 0.84 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| 2. | DIVISLAB | 8525.00 | 77.37 | 226311.96 | 0.35 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| 3. | TORNTPHARM | 5013.00 | 87.43 | 190678.41 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| 4. | CIPLA | 1416.00 | 33.94 | 114392.01 | 0.92 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| 5. | ZYDUSLIFE | 1105.00 | 24.42 | 110224.17 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| 6. | LUPIN | 2220.00 | 18.36 | 101506.15 | 0.81 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| 7. | MANKIND | 2391.00 | 48.34 | 98747.34 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| 8. | DRREDDY | 1171.00 | 30.33 | 97740.54 | 0.68 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| 9. | LAURUSLABS | 1807.00 | 89.30 | 97634.42 | 0.11 | 3620.70 | 2139.42 | 20263.10 | 1191.00 | 18.20 | 31.50 |
| 10. | AUROPHARMA | 1615.15 | 25.03 | 92932.16 | 0.25 | 1032.03 | 25.22 | 9150.35 | 17.44 | 12.76 | 20.54 |
| 11. | BIOCON | 414.30 | 136.32 | 67518.23 | 0.12 | 136.80 | 53.36 | 4336.00 | 10.89 | 3.26 | 19.54 |
| 12. | IPCALAB | 1904.30 | 36.89 | 48312.89 | 0.32 | 424.27 | 82.18 | 2788.10 | 20.76 | 19.41 | 24.07 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,585 | 2,034 | 2,053 | 2,033 | 2,093 | 2,355 | 2,245 | 2,247 | 2,309 | 2,556 | 2,392 | 2,388 | 2,788 | |
| 1,277 | 1,673 | 1,722 | 1,711 | 1,700 | 1,913 | 1,782 | 1,818 | 1,892 | 2,012 | 1,859 | 1,905 | 2,241 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 45 | 39 | 22 | 19 | 21 | 26 | 20 | 26 | 33 | 28 | 20 | 94 | 25 |
| Interest | 31 | 44 | 33 | 29 | 24 | 23 | 17 | 22 | 19 | 20 | 18 | 20 | 12 |
| Depreciation | 69 | 90 | 100 | 98 | 99 | 100 | 98 | 100 | 100 | 103 | 108 | 107 | 111 |
| 252 | 225 | 289 | 77 | 290 | 345 | 368 | 128 | 331 | 392 | 446 | 404 | 574 | |
| 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 Profit | 0 | 0 | 0 | 0 | 199 | 246 | 276 | 64 | 233 | 281 | 364 | 307 | 424 |
| 6 | 6 | 7 | 2 | 8 | 9 | 10 | 3 | 9 | 11 | 12 | 12 | 2 | |
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| 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% |
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| 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% |
Jun 2023
- 1,585
- 1,277
- Operating Profit
- —
- OPM %
- —
- Other Income
- 45
- Interest
- 31
- Depreciation
- 69
- 252
- Tax %
- 34.00%
- Net Profit
- 0
- 6
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 2,034
- 1,673
- Operating Profit
- —
- OPM %
- —
- Other Income
- 39
- Interest
- 44
- Depreciation
- 90
- 225
- Tax %
- 39.01%
- Net Profit
- 0
- 6
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 2,053
- 1,722
- Operating Profit
- —
- OPM %
- —
- Other Income
- 22
- Interest
- 33
- Depreciation
- 100
- 289
- Tax %
- 22.93%
- Net Profit
- 0
- 7
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 2,033
- 1,711
- Operating Profit
- —
- OPM %
- —
- Other Income
- 19
- Interest
- 29
- Depreciation
- 98
- 77
- Tax %
- 96.20%
- Net Profit
- 0
- 2
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 2,093
- 1,700
- Operating Profit
- —
- OPM %
- —
- Other Income
- 21
- Interest
- 24
- Depreciation
- 99
- 290
- Tax %
- 31.48%
- Net Profit
- 199
- 8
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 2,355
- 1,913
- Operating Profit
- —
- OPM %
- —
- Other Income
- 26
- Interest
- 23
- Depreciation
- 100
- 345
- Tax %
- 28.82%
- Net Profit
- 246
- 9
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 2,245
- 1,782
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 17
- Depreciation
- 98
- 368
- Tax %
- 24.62%
- Net Profit
- 276
- 10
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 2,247
- 1,818
- Operating Profit
- —
- OPM %
- —
- Other Income
- 26
- Interest
- 22
- Depreciation
- 100
- 128
- Tax %
- 48.61%
- Net Profit
- 64
- 3
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 2,309
- 1,892
- Operating Profit
- —
- OPM %
- —
- Other Income
- 33
- Interest
- 19
- Depreciation
- 100
- 331
- Tax %
- 29.07%
- Net Profit
- 233
- 9
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 2,556
- 2,012
- Operating Profit
- —
- OPM %
- —
- Other Income
- 28
- Interest
- 20
- Depreciation
- 103
- 392
- Tax %
- 27.60%
- Net Profit
- 281
- 11
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 2,392
- 1,859
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 18
- Depreciation
- 108
- 446
- Tax %
- 18.37%
- Net Profit
- 364
- 12
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 2,388
- 1,905
- Operating Profit
- —
- OPM %
- —
- Other Income
- 94
- Interest
- 20
- Depreciation
- 107
- 404
- Tax %
- 23.50%
- Net Profit
- 307
- 12
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 2,788
- 2,241
- Operating Profit
- —
- OPM %
- —
- Other Income
- 25
- Interest
- 12
- Depreciation
- 111
- 574
- Tax %
- 26.03%
- Net Profit
- 424
- 2
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,156 | 3,258 | 3,746 | 4,619 | 5,395 | 5,797 | 6,204 | 7,662 | 8,897 | 9,599 | 10,126 | |
| 2,741 | 2,816 | 3,067 | 3,729 | 3,914 | 4,539 | 5,301 | 6,398 | 7,226 | 7,645 | 8,017 | |
| Operating Profit | 470 | 500 | 753 | 977 | 1,610 | 1,379 | 1,055 | 1,448 | 1,822 | 2,156 | — |
| OPM % | 15 | 15 | 20 | 21 | 30 | 24 | 17 | 19 | 20 | 22 | — |
| Other Income | 55 | 58 | 75 | 86 | 129 | 122 | 152 | 184 | 151 | 202 | 167 |
| Interest | 27 | 28 | 22 | 20 | 12 | 11 | 48 | 141 | 88 | 79 | 69 |
| Depreciation | 173 | 178 | 182 | 210 | 209 | 232 | 262 | 357 | 398 | 418 | 429 |
| 262 | 291 | 546 | 739 | 1,389 | 1,136 | 745 | 843 | 1,131 | 1,573 | 1,816 | |
| Tax % | 26 | 18 | 19 | 18 | 17 | 20 | 34 | 37 | 30 | 24 | 24 |
| Net Profit | 195 | 239 | 442 | 604 | 1,149 | 911 | 492 | 529 | 788 | 1,191 | 1,381 |
| EPS | 15 | 19 | 35 | 48 | 90 | 35 | 19 | 22 | 29 | 45 | — |
| Dividend Payout % | 6 | 5 | 9 | 10 | 9 | 11 | 22 | 19 | 14 | 13 | — |
| Minority Interest | 0 | 0 | 3 | 3 | -1 | -6 | -8 | 24 | -48 | -43 | 17 |
| Share of Associates | 0 | 0 | 0 | 0 | -8 | -21 | -13 | -6 | -2 | -8 | -5 |
| Adjusted EPS | 8 | 9 | 18 | 24 | 45 | 35 | 19 | 22 | 29 | 45 | — |
| Minority Interest | 0 | 0 | 3 | 3 | -1 | -6 | -8 | 24 | -48 | -43 | 17 |
| Share of Associates | 0 | 0 | 0 | 0 | -8 | -21 | -13 | -6 | -2 | -8 | -5 |
| Adjusted EPS | 8 | 9 | 18 | 24 | 45 | 35 | 19 | 22 | 29 | 45 | — |
Mar 2017
- 3,156
- 2,741
- Operating Profit
- 470
- OPM %
- 15
- Other Income
- 55
- Interest
- 27
- Depreciation
- 173
- 262
- Tax %
- 26
- Net Profit
- 195
- EPS
- 15
- Dividend Payout %
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 8
Mar 2018
- 3,258
- 2,816
- Operating Profit
- 500
- OPM %
- 15
- Other Income
- 58
- Interest
- 28
- Depreciation
- 178
- 291
- Tax %
- 18
- Net Profit
- 239
- EPS
- 19
- Dividend Payout %
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
Mar 2019
- 3,746
- 3,067
- Operating Profit
- 753
- OPM %
- 20
- Other Income
- 75
- Interest
- 22
- Depreciation
- 182
- 546
- Tax %
- 19
- Net Profit
- 442
- EPS
- 35
- Dividend Payout %
- 9
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 18
Mar 2020
- 4,619
- 3,729
- Operating Profit
- 977
- OPM %
- 21
- Other Income
- 86
- Interest
- 20
- Depreciation
- 210
- 739
- Tax %
- 18
- Net Profit
- 604
- EPS
- 48
- Dividend Payout %
- 10
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 24
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 24
Mar 2021
- 5,395
- 3,914
- Operating Profit
- 1,610
- OPM %
- 30
- Other Income
- 129
- Interest
- 12
- Depreciation
- 209
- 1,389
- Tax %
- 17
- Net Profit
- 1,149
- EPS
- 90
- Dividend Payout %
- 9
- Minority Interest
- -1
- Share of Associates
- -8
- Adjusted EPS
- 45
- Minority Interest
- -1
- Share of Associates
- -8
- Adjusted EPS
- 45
Mar 2022
- 5,797
- 4,539
- Operating Profit
- 1,379
- OPM %
- 24
- Other Income
- 122
- Interest
- 11
- Depreciation
- 232
- 1,136
- Tax %
- 20
- Net Profit
- 911
- EPS
- 35
- Dividend Payout %
- 11
- Minority Interest
- -6
- Share of Associates
- -21
- Adjusted EPS
- 35
- Minority Interest
- -6
- Share of Associates
- -21
- Adjusted EPS
- 35
Mar 2023
- 6,204
- 5,301
- Operating Profit
- 1,055
- OPM %
- 17
- Other Income
- 152
- Interest
- 48
- Depreciation
- 262
- 745
- Tax %
- 34
- Net Profit
- 492
- EPS
- 19
- Dividend Payout %
- 22
- Minority Interest
- -8
- Share of Associates
- -13
- Adjusted EPS
- 19
- Minority Interest
- -8
- Share of Associates
- -13
- Adjusted EPS
- 19
Mar 2024
- 7,662
- 6,398
- Operating Profit
- 1,448
- OPM %
- 19
- Other Income
- 184
- Interest
- 141
- Depreciation
- 357
- 843
- Tax %
- 37
- Net Profit
- 529
- EPS
- 22
- Dividend Payout %
- 19
- Minority Interest
- 24
- Share of Associates
- -6
- Adjusted EPS
- 22
- Minority Interest
- 24
- Share of Associates
- -6
- Adjusted EPS
- 22
Mar 2025
- 8,897
- 7,226
- Operating Profit
- 1,822
- OPM %
- 20
- Other Income
- 151
- Interest
- 88
- Depreciation
- 398
- 1,131
- Tax %
- 30
- Net Profit
- 788
- EPS
- 29
- Dividend Payout %
- 14
- Minority Interest
- -48
- Share of Associates
- -2
- Adjusted EPS
- 29
- Minority Interest
- -48
- Share of Associates
- -2
- Adjusted EPS
- 29
Mar 2026
- 9,599
- 7,645
- Operating Profit
- 2,156
- OPM %
- 22
- Other Income
- 202
- Interest
- 79
- Depreciation
- 418
- 1,573
- Tax %
- 24
- Net Profit
- 1,191
- EPS
- 45
- Dividend Payout %
- 13
- Minority Interest
- -43
- Share of Associates
- -8
- Adjusted EPS
- 45
- Minority Interest
- -43
- Share of Associates
- -8
- Adjusted EPS
- 45
TTM
- 10,126
- 8,017
- Operating Profit
- —
- OPM %
- —
- Other Income
- 167
- Interest
- 69
- Depreciation
- 429
- 1,816
- Tax %
- 24
- Net Profit
- 1,381
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 17
- Share of Associates
- -5
- Adjusted EPS
- —
- Minority Interest
- 17
- Share of Associates
- -5
- Adjusted EPS
- —
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:
- 22%
- 5 Years:
- 9%
- 3 Years:
- 29%
- 1 Year:
- 39%
RETURN ON EQUITY
- 10 Years:
- 14%
- 5 Years:
- 13%
- 3 Years:
- 12%
- Last Year:
- 16%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| 2,430 | 2,663 | 3,097 | 3,590 | 4,676 | 5,439 | 5,817 | 6,305 | 6,920 | 8,035 | |
| 319 | 388 | 324 | 360 | 230 | 396 | 806 | 559 | 495 | 417 | |
| Trade Payables | 397 | 423 | 524 | 610 | 665 | 558 | 525 | 776 | 846 | 940 |
| 789 | 616 | 578 | 672 | 470 | 1,203 | 1,450 | 3,431 | 3,456 | 2,931 | |
| Total Liabilities | 3,960 | 4,116 | 4,549 | 5,258 | 6,066 | 7,622 | 8,623 | 11,097 | 11,744 | 12,350 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,983 | 1,953 | 1,940 | 2,059 | 2,072 | 2,402 | 2,751 | 4,554 | 4,267 | 4,627 | |
| Capital Work in Progress | 62 | 42 | 36 | 71 | 184 | 294 | 122 | 324 | 616 | 762 |
| 136 | 87 | 120 | 310 | 505 | 989 | 626 | 862 | 980 | 844 | |
| 882 | 881 | 1,072 | 1,323 | 1,595 | 1,858 | 1,743 | 2,471 | 2,560 | 2,731 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,687 | 1,884 | 2,014 | |
| Cash & Bank | 36 | 151 | 282 | 181 | 365 | 641 | 1,853 | 297 | 344 | 565 |
| 860 | 1,003 | 1,097 | 1,315 | 1,345 | 1,437 | 1,527 | 903 | 1,092 | 808 | |
| Total Assets | 3,960 | 4,116 | 4,549 | 5,258 | 6,066 | 7,622 | 8,623 | 11,097 | 11,744 | 12,350 |
| Total Debt | 716 | 628 | 465 | 482 | 252 | 791 | 1,458 | 1,388 | 1,302 | 704 |
| Net Working Capital | 786 | 938 | 1,280 | 1,529 | 2,276 | 2,981 | 3,383 | 3,180 | 3,583 | 4,067 |
| Contingent Liabilities | 45 | 43 | 40 | 42 | 56 | 70 | 93 | 119 | 235 | 249 |
| Book Value per Share | 194.55 | 213.02 | 247.12 | 286.15 | 370.65 | 215.41 | 230.27 | 249.53 | 273.78 | 317.72 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Total Debt | 716 | 628 | 465 | 482 | 252 | 791 | 1,458 | 1,388 | 1,302 | 704 |
| Net Working Capital | 786 | 938 | 1,280 | 1,529 | 2,276 | 2,981 | 3,383 | 3,180 | 3,583 | 4,067 |
| Contingent Liabilities | 45 | 43 | 40 | 42 | 56 | 70 | 93 | 119 | 235 | 249 |
| Book Value per Share | 194.55 | 213.02 | 247.12 | 286.15 | 370.65 | 215.41 | 230.27 | 249.53 | 273.78 | 317.72 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Mar 2017
- Equity Capital
- 25
- 2,430
- 319
- Trade Payables
- 397
- 789
- Total Liabilities
- 3,960
- 1,983
- Capital Work in Progress
- 62
- 136
- 882
- 0
- Cash & Bank
- 36
- 860
- Total Assets
- 3,960
- Total Debt
- 716
- Net Working Capital
- 786
- Contingent Liabilities
- 45
- Book Value per Share
- 194.55
- Face Value
- 2.00
- Total Debt
- 716
- Net Working Capital
- 786
- Contingent Liabilities
- 45
- Book Value per Share
- 194.55
- Face Value
- 2.00
Mar 2018
- Equity Capital
- 25
- 2,663
- 388
- Trade Payables
- 423
- 616
- Total Liabilities
- 4,116
- 1,953
- Capital Work in Progress
- 42
- 87
- 881
- 0
- Cash & Bank
- 151
- 1,003
- Total Assets
- 4,116
- Total Debt
- 628
- Net Working Capital
- 938
- Contingent Liabilities
- 43
- Book Value per Share
- 213.02
- Face Value
- 2.00
- Total Debt
- 628
- Net Working Capital
- 938
- Contingent Liabilities
- 43
- Book Value per Share
- 213.02
- Face Value
- 2.00
Mar 2019
- Equity Capital
- 25
- 3,097
- 324
- Trade Payables
- 524
- 578
- Total Liabilities
- 4,549
- 1,940
- Capital Work in Progress
- 36
- 120
- 1,072
- 0
- Cash & Bank
- 282
- 1,097
- Total Assets
- 4,549
- Total Debt
- 465
- Net Working Capital
- 1,280
- Contingent Liabilities
- 40
- Book Value per Share
- 247.12
- Face Value
- 2.00
- Total Debt
- 465
- Net Working Capital
- 1,280
- Contingent Liabilities
- 40
- Book Value per Share
- 247.12
- Face Value
- 2.00
Mar 2020
- Equity Capital
- 25
- 3,590
- 360
- Trade Payables
- 610
- 672
- Total Liabilities
- 5,258
- 2,059
- Capital Work in Progress
- 71
- 310
- 1,323
- 0
- Cash & Bank
- 181
- 1,315
- Total Assets
- 5,258
- Total Debt
- 482
- Net Working Capital
- 1,529
- Contingent Liabilities
- 42
- Book Value per Share
- 286.15
- Face Value
- 2.00
- Total Debt
- 482
- Net Working Capital
- 1,529
- Contingent Liabilities
- 42
- Book Value per Share
- 286.15
- Face Value
- 2.00
Mar 2021
- Equity Capital
- 25
- 4,676
- 230
- Trade Payables
- 665
- 470
- Total Liabilities
- 6,066
- 2,072
- Capital Work in Progress
- 184
- 505
- 1,595
- 0
- Cash & Bank
- 365
- 1,345
- Total Assets
- 6,066
- Total Debt
- 252
- Net Working Capital
- 2,276
- Contingent Liabilities
- 56
- Book Value per Share
- 370.65
- Face Value
- 2.00
- Total Debt
- 252
- Net Working Capital
- 2,276
- Contingent Liabilities
- 56
- Book Value per Share
- 370.65
- Face Value
- 2.00
Mar 2022
- Equity Capital
- 25
- 5,439
- 396
- Trade Payables
- 558
- 1,203
- Total Liabilities
- 7,622
- 2,402
- Capital Work in Progress
- 294
- 989
- 1,858
- 0
- Cash & Bank
- 641
- 1,437
- Total Assets
- 7,622
- Total Debt
- 791
- Net Working Capital
- 2,981
- Contingent Liabilities
- 70
- Book Value per Share
- 215.41
- Face Value
- 1.00
- Total Debt
- 791
- Net Working Capital
- 2,981
- Contingent Liabilities
- 70
- Book Value per Share
- 215.41
- Face Value
- 1.00
Mar 2023
- Equity Capital
- 25
- 5,817
- 806
- Trade Payables
- 525
- 1,450
- Total Liabilities
- 8,623
- 2,751
- Capital Work in Progress
- 122
- 626
- 1,743
- 0
- Cash & Bank
- 1,853
- 1,527
- Total Assets
- 8,623
- Total Debt
- 1,458
- Net Working Capital
- 3,383
- Contingent Liabilities
- 93
- Book Value per Share
- 230.27
- Face Value
- 1.00
- Total Debt
- 1,458
- Net Working Capital
- 3,383
- Contingent Liabilities
- 93
- Book Value per Share
- 230.27
- Face Value
- 1.00
Mar 2024
- Equity Capital
- 25
- 6,305
- 559
- Trade Payables
- 776
- 3,431
- Total Liabilities
- 11,097
- 4,554
- Capital Work in Progress
- 324
- 862
- 2,471
- 1,687
- Cash & Bank
- 297
- 903
- Total Assets
- 11,097
- Total Debt
- 1,388
- Net Working Capital
- 3,180
- Contingent Liabilities
- 119
- Book Value per Share
- 249.53
- Face Value
- 1.00
- Total Debt
- 1,388
- Net Working Capital
- 3,180
- Contingent Liabilities
- 119
- Book Value per Share
- 249.53
- Face Value
- 1.00
Mar 2025
- Equity Capital
- 25
- 6,920
- 495
- Trade Payables
- 846
- 3,456
- Total Liabilities
- 11,744
- 4,267
- Capital Work in Progress
- 616
- 980
- 2,560
- 1,884
- Cash & Bank
- 344
- 1,092
- Total Assets
- 11,744
- Total Debt
- 1,302
- Net Working Capital
- 3,583
- Contingent Liabilities
- 235
- Book Value per Share
- 273.78
- Face Value
- 1.00
- Total Debt
- 1,302
- Net Working Capital
- 3,583
- Contingent Liabilities
- 235
- Book Value per Share
- 273.78
- Face Value
- 1.00
Mar 2026
- Equity Capital
- 25
- 8,035
- 417
- Trade Payables
- 940
- 2,931
- Total Liabilities
- 12,350
- 4,627
- Capital Work in Progress
- 762
- 844
- 2,731
- 2,014
- Cash & Bank
- 565
- 808
- Total Assets
- 12,350
- Total Debt
- 704
- Net Working Capital
- 4,067
- Contingent Liabilities
- 249
- Book Value per Share
- 317.72
- Face Value
- 1.00
- Total Debt
- 704
- Net Working Capital
- 4,067
- Contingent Liabilities
- 249
- Book Value per Share
- 317.72
- Face Value
- 1.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 282 | 341 | 501 | 570 | 1,090 | 856 | 806 | 945 | 1,321 | 1,142 | |
| Cash from Investing | -149 | -135 | -165 | -510 | -521 | -855 | -725 | -1,292 | -870 | -247 |
| Cash from Financing | -159 | -130 | -183 | -137 | -306 | 427 | 507 | -553 | -283 | -754 |
| -26 | 75 | 153 | -76 | 264 | 428 | 588 | -900 | 169 | 142 | |
| Free Cash Flow | 172 | 215 | 338 | 183 | 762 | 198 | 374 | -1,924 | 1,055 | 269 |
| OCF / Net Profit | 1.45 | 1.42 | 1.13 | 0.94 | 0.95 | 0.94 | 1.64 | 1.79 | 1.68 | 0.96 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,670 | 1,696 | 1,854 | -408 | 464 | -29 |
| OCF / Net Profit | 1.45 | 1.42 | 1.13 | 0.94 | 0.95 | 0.94 | 1.64 | 1.79 | 1.68 | 0.96 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,670 | 1,696 | 1,854 | -408 | 464 | -29 |
Mar 2017
- 282
- Cash from Investing
- -149
- Cash from Financing
- -159
- -26
- Free Cash Flow
- 172
- OCF / Net Profit
- 1.45
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.45
- Cumulative 5-Year FCF
- 0
Mar 2018
- 341
- Cash from Investing
- -135
- Cash from Financing
- -130
- 75
- Free Cash Flow
- 215
- OCF / Net Profit
- 1.42
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.42
- Cumulative 5-Year FCF
- 0
Mar 2019
- 501
- Cash from Investing
- -165
- Cash from Financing
- -183
- 153
- Free Cash Flow
- 338
- OCF / Net Profit
- 1.13
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.13
- Cumulative 5-Year FCF
- 0
Mar 2020
- 570
- Cash from Investing
- -510
- Cash from Financing
- -137
- -76
- Free Cash Flow
- 183
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 0
Mar 2021
- 1,090
- Cash from Investing
- -521
- Cash from Financing
- -306
- 264
- Free Cash Flow
- 762
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 1,670
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 1,670
Mar 2022
- 856
- Cash from Investing
- -855
- Cash from Financing
- 427
- 428
- Free Cash Flow
- 198
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 1,696
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 1,696
Mar 2023
- 806
- Cash from Investing
- -725
- Cash from Financing
- 507
- 588
- Free Cash Flow
- 374
- OCF / Net Profit
- 1.64
- Cumulative 5-Year FCF
- 1,854
- OCF / Net Profit
- 1.64
- Cumulative 5-Year FCF
- 1,854
Mar 2024
- 945
- Cash from Investing
- -1,292
- Cash from Financing
- -553
- -900
- Free Cash Flow
- -1,924
- OCF / Net Profit
- 1.79
- Cumulative 5-Year FCF
- -408
- OCF / Net Profit
- 1.79
- Cumulative 5-Year FCF
- -408
Mar 2025
- 1,321
- Cash from Investing
- -870
- Cash from Financing
- -283
- 169
- Free Cash Flow
- 1,055
- OCF / Net Profit
- 1.68
- Cumulative 5-Year FCF
- 464
- OCF / Net Profit
- 1.68
- Cumulative 5-Year FCF
- 464
Mar 2026
- 1,142
- Cash from Investing
- -247
- Cash from Financing
- -754
- 142
- Free Cash Flow
- 269
- OCF / Net Profit
- 0.96
- Cumulative 5-Year FCF
- -29
- OCF / Net Profit
- 0.96
- Cumulative 5-Year FCF
- -29
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 15.42 | 18.97 | 35.27 | 47.99 | 89.87 | 34.85 | 18.58 | 21.57 | 29.08 | 44.98 |
| Book Value (₹) | 194.55 | 213.02 | 247.12 | 286.15 | 370.65 | 215.41 | 230.27 | 249.53 | 273.78 | 317.72 |
| Dividend per Share (₹) | 1.00 | 1.00 | 3.00 | 5.00 | 8.00 | 4.00 | 4.00 | 4.00 | 4.00 | 6.00 |
| Cash EPS (₹) | 14.56 | 16.53 | 24.72 | 32.21 | 53.53 | 45.07 | 29.70 | 34.94 | 46.72 | 63.44 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 14.64% | 15.23% | 19.95% | 21.02% | 29.71% | 23.66% | 16.90% | 16.41% | 18.69% | 20.26% |
| Net Margin % | 6.06% | 7.29% | 11.72% | 12.98% | 21.20% | 15.63% | 7.88% | 6.87% | 8.81% | 12.35% |
| ROE % | 8.25% | 9.31% | 15.22% | 17.92% | 27.63% | 17.92% | 8.70% | 8.70% | 11.86% | 15.88% |
| ROCE % | 9.18% | 9.81% | 16.48% | 19.71% | 30.92% | 20.46% | 11.71% | 13.10% | 15.27% | 19.41% |
| 4.96% | 5.93% | 10.21% | 12.31% | 20.29% | 13.31% | 6.06% | 5.37% | 6.90% | 9.89% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 54 | 61 | 62 | 62 | 57 | 54 | 56 | 63 | 73 | 74 |
| Inventory Days | 98 | 98 | 94 | 94 | 98 | 108 | 105 | 100 | 103 | 100 |
| Payable Days | 149 | 139 | 141 | 128 | 136 | 111 | 86 | 102 | 121 | 131 |
| 3 | 21 | 15 | 28 | 19 | 51 | 75 | 61 | 55 | 43 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.29x | 0.23x | 0.15x | 0.13x | 0.05x | 0.14x | 0.25x | 0.22x | 0.19x | 0.09x |
| Interest Coverage (x) | 10.74x | 11.54x | 25.57x | 38.37x | 114.20x | 102.40x | 16.47x | 6.99x | 13.88x | 20.88x |
| 1.82x | 1.93x | 2.17x | 2.15x | 2.96x | 3.03x | 2.87x | 2.35x | 2.50x | 2.76x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 10.08% | 3.22% | 14.98% | 23.32% | 16.80% | 7.45% | 7.03% | 23.50% | 16.11% | 7.89% |
| Operating Profit Growth % | 49.52% | 6.36% | 50.57% | 29.76% | 64.84% | -14.35% | -23.51% | 37.28% | 25.78% | 18.35% |
| Net Profit Growth % | 102.22% | 23.07% | 84.70% | 36.48% | 90.34% | -20.71% | -46.00% | 7.58% | 48.81% | 51.28% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 16.13% | 34.77% | 54.69% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 57.39x | 51.63x | 35.64x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.96x | 5.48x | 5.05x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.32% | 0.27% | 0.37% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 22.44x | 21.43x | 18.93x |
Mar 2017
- EPS (₹)
- 15.42
- Book Value (₹)
- 194.55
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 14.56
- Operating Margin %
- 14.64%
- Net Margin %
- 6.06%
- ROE %
- 8.25%
- ROCE %
- 9.18%
- 4.96%
- Debtor Days
- 54
- Inventory Days
- 98
- Payable Days
- 149
- 3
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 10.74x
- 1.82x
- Revenue Growth %
- 10.08%
- Operating Profit Growth %
- 49.52%
- Net Profit Growth %
- 102.22%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 18.97
- Book Value (₹)
- 213.02
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 16.53
- Operating Margin %
- 15.23%
- Net Margin %
- 7.29%
- ROE %
- 9.31%
- ROCE %
- 9.81%
- 5.93%
- Debtor Days
- 61
- Inventory Days
- 98
- Payable Days
- 139
- 21
- Debt to Equity (x)
- 0.23x
- Interest Coverage (x)
- 11.54x
- 1.93x
- Revenue Growth %
- 3.22%
- Operating Profit Growth %
- 6.36%
- Net Profit Growth %
- 23.07%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 35.27
- Book Value (₹)
- 247.12
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 24.72
- Operating Margin %
- 19.95%
- Net Margin %
- 11.72%
- ROE %
- 15.22%
- ROCE %
- 16.48%
- 10.21%
- Debtor Days
- 62
- Inventory Days
- 94
- Payable Days
- 141
- 15
- Debt to Equity (x)
- 0.15x
- Interest Coverage (x)
- 25.57x
- 2.17x
- Revenue Growth %
- 14.98%
- Operating Profit Growth %
- 50.57%
- Net Profit Growth %
- 84.70%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 47.99
- Book Value (₹)
- 286.15
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 32.21
- Operating Margin %
- 21.02%
- Net Margin %
- 12.98%
- ROE %
- 17.92%
- ROCE %
- 19.71%
- 12.31%
- Debtor Days
- 62
- Inventory Days
- 94
- Payable Days
- 128
- 28
- Debt to Equity (x)
- 0.13x
- Interest Coverage (x)
- 38.37x
- 2.15x
- Revenue Growth %
- 23.32%
- Operating Profit Growth %
- 29.76%
- Net Profit Growth %
- 36.48%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 89.87
- Book Value (₹)
- 370.65
- Dividend per Share (₹)
- 8.00
- Cash EPS (₹)
- 53.53
- Operating Margin %
- 29.71%
- Net Margin %
- 21.20%
- ROE %
- 27.63%
- ROCE %
- 30.92%
- 20.29%
- Debtor Days
- 57
- Inventory Days
- 98
- Payable Days
- 136
- 19
- Debt to Equity (x)
- 0.05x
- Interest Coverage (x)
- 114.20x
- 2.96x
- Revenue Growth %
- 16.80%
- Operating Profit Growth %
- 64.84%
- Net Profit Growth %
- 90.34%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 34.85
- Book Value (₹)
- 215.41
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 45.07
- Operating Margin %
- 23.66%
- Net Margin %
- 15.63%
- ROE %
- 17.92%
- ROCE %
- 20.46%
- 13.31%
- Debtor Days
- 54
- Inventory Days
- 108
- Payable Days
- 111
- 51
- Debt to Equity (x)
- 0.14x
- Interest Coverage (x)
- 102.40x
- 3.03x
- Revenue Growth %
- 7.45%
- Operating Profit Growth %
- -14.35%
- Net Profit Growth %
- -20.71%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 18.58
- Book Value (₹)
- 230.27
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 29.70
- Operating Margin %
- 16.90%
- Net Margin %
- 7.88%
- ROE %
- 8.70%
- ROCE %
- 11.71%
- 6.06%
- Debtor Days
- 56
- Inventory Days
- 105
- Payable Days
- 86
- 75
- Debt to Equity (x)
- 0.25x
- Interest Coverage (x)
- 16.47x
- 2.87x
- Revenue Growth %
- 7.03%
- Operating Profit Growth %
- -23.51%
- Net Profit Growth %
- -46.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 21.57
- Book Value (₹)
- 249.53
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 34.94
- Operating Margin %
- 16.41%
- Net Margin %
- 6.87%
- ROE %
- 8.70%
- ROCE %
- 13.10%
- 5.37%
- Debtor Days
- 63
- Inventory Days
- 100
- Payable Days
- 102
- 61
- Debt to Equity (x)
- 0.22x
- Interest Coverage (x)
- 6.99x
- 2.35x
- Revenue Growth %
- 23.50%
- Operating Profit Growth %
- 37.28%
- Net Profit Growth %
- 7.58%
- 16.13%
- P/E (x)
- 57.39x
- P/B (x)
- 4.96x
- Dividend Yield %
- 0.32%
- 22.44x
Mar 2025
- EPS (₹)
- 29.08
- Book Value (₹)
- 273.78
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 46.72
- Operating Margin %
- 18.69%
- Net Margin %
- 8.81%
- ROE %
- 11.86%
- ROCE %
- 15.27%
- 6.90%
- Debtor Days
- 73
- Inventory Days
- 103
- Payable Days
- 121
- 55
- Debt to Equity (x)
- 0.19x
- Interest Coverage (x)
- 13.88x
- 2.50x
- Revenue Growth %
- 16.11%
- Operating Profit Growth %
- 25.78%
- Net Profit Growth %
- 48.81%
- 34.77%
- P/E (x)
- 51.63x
- P/B (x)
- 5.48x
- Dividend Yield %
- 0.27%
- 21.43x
Mar 2026
- EPS (₹)
- 44.98
- Book Value (₹)
- 317.72
- Dividend per Share (₹)
- 6.00
- Cash EPS (₹)
- 63.44
- Operating Margin %
- 20.26%
- Net Margin %
- 12.35%
- ROE %
- 15.88%
- ROCE %
- 19.41%
- 9.89%
- Debtor Days
- 74
- Inventory Days
- 100
- Payable Days
- 131
- 43
- Debt to Equity (x)
- 0.09x
- Interest Coverage (x)
- 20.88x
- 2.76x
- Revenue Growth %
- 7.89%
- Operating Profit Growth %
- 18.35%
- Net Profit Growth %
- 51.28%
- 54.69%
- P/E (x)
- 35.64x
- P/B (x)
- 5.05x
- Dividend Yield %
- 0.37%
- 18.93x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - IPCA Laboratories Limited has informed the Exchange about Transcript
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - IPCA Laboratories Limited has informed the Exchange about Link of Recording
Annual Reports
Credit Ratings
- Credit Rating
2026-07-07 - IPCA Laboratories Limited has informed the Exchange about Credit Rating
- Credit Rating
2025-07-07 - IPCA Laboratories Limited has informed the Exchange about Credit Rating
Concalls
Jun 2026
Feb 2026
Nov 2025