Divis Laboratories Ltd
Incorporated in 1990, Divis Laboratories Ltd manufactures and exports API's, Intermediates and Nutraceutical ingredients[1]
- Market Cap ₹ 2,45,532 Cr.
- Current Price ₹ 9,249
- High / Low ₹ 10,000 / 5,648
- Stock P/E 82.4
- Book Value ₹ 631
- Dividend Yield 0.32 %
- ROCE 22.0 %
- ROE 16.5 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 39.0%
Cons
- Stock is trading at 14.6 times its book value
- The company has delivered a poor sales growth of 8.67% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals
Part of BSE 500 BSE Healthcare BSE 100 BSE 200 BSE Dollex 200
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,115 | 3,776 | 4,064 | 3,891 | 4,946 | 5,394 | 6,969 | 8,960 | 7,768 | 7,845 | 9,360 | 10,560 | 11,230 | |
| 1,942 | 2,354 | 2,615 | 2,622 | 3,072 | 3,568 | 4,102 | 5,075 | 5,397 | 5,635 | 6,387 | 7,118 | 7,263 | |
| Operating Profit | 1,173 | 1,423 | 1,450 | 1,269 | 1,874 | 1,826 | 2,867 | 3,885 | 2,370 | 2,210 | 2,973 | 3,442 | 3,967 |
| OPM % | 38% | 38% | 36% | 33% | 38% | 34% | 41% | 43% | 31% | 28% | 32% | 33% | 35% |
| 38 | 93 | 72 | 107 | 154 | 186 | 57 | 112 | 344 | 335 | 348 | 433 | 378 | |
| Interest | 3 | 5 | 3 | 2 | 5 | 7 | 2 | 2 | 2 | 4 | 3 | 24 | 26 |
| Depreciation | 136 | 118 | 123 | 142 | 169 | 186 | 256 | 312 | 343 | 378 | 402 | 463 | 484 |
| Profit before tax | 1,072 | 1,393 | 1,395 | 1,231 | 1,855 | 1,819 | 2,666 | 3,684 | 2,369 | 2,163 | 2,916 | 3,388 | 3,835 |
| Tax % | 21% | 19% | 24% | 29% | 27% | 24% | 26% | 20% | 23% | 26% | 25% | 24% | |
| 852 | 1,126 | 1,060 | 877 | 1,353 | 1,377 | 1,984 | 2,960 | 1,823 | 1,600 | 2,191 | 2,568 | 2,925 | |
| EPS in Rs | 32.07 | 42.41 | 39.95 | 33.04 | 50.96 | 51.85 | 74.75 | 111.52 | 68.69 | 60.27 | 82.53 | 96.73 | 110.18 |
| Dividend Payout % | 31% | 24% | 25% | 30% | 31% | 31% | 27% | 27% | 44% | 50% | 36% | 31% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 9% |
| 3 Years: | 11% |
| TTM: | 16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 6% |
| 3 Years: | 13% |
| TTM: | 29% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 14% |
| 3 Years: | 35% |
| 1 Year: | 62% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 17% |
| 3 Years: | 15% |
| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 |
| Reserves | 3,469 | 4,240 | 5,304 | 5,872 | 6,904 | 7,257 | 9,242 | 11,675 | 12,714 | 13,518 | 14,916 | 16,708 |
| 27 | 42 | 36 | 63 | 106 | 39 | 5 | 4 | 3 | 3 | 4 | 7 | |
| 883 | 562 | 762 | 797 | 973 | 1,183 | 1,471 | 1,628 | 1,654 | 1,886 | 1,948 | 3,251 | |
| Total Liabilities | 4,405 | 4,898 | 6,155 | 6,785 | 8,036 | 8,531 | 10,771 | 13,360 | 14,425 | 15,460 | 16,921 | 20,019 |
| 1,309 | 1,439 | 1,559 | 1,996 | 2,088 | 2,782 | 3,704 | 4,325 | 4,723 | 4,739 | 5,442 | 6,528 | |
| CWIP | 218 | 264 | 444 | 120 | 492 | 920 | 711 | 470 | 212 | 778 | 1,022 | 2,113 |
| Investments | 733 | 803 | 1,631 | 1,889 | 1,946 | 971 | 0 | 72 | 77 | 82 | 65 | 69 |
| 2,145 | 2,392 | 2,521 | 2,780 | 3,511 | 3,858 | 6,356 | 8,493 | 9,413 | 9,861 | 10,392 | 11,309 | |
| Total Assets | 4,405 | 4,898 | 6,155 | 6,785 | 8,036 | 8,531 | 10,771 | 13,360 | 14,425 | 15,460 | 16,921 | 20,019 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 826 | 1,038 | 1,150 | 776 | 954 | 1,216 | 1,947 | 1,912 | 2,460 | 1,261 | 1,653 | 2,738 | |
| -521 | -406 | -1,140 | -478 | -685 | -83 | 75 | -2,195 | -2,708 | -269 | -804 | -2,219 | |
| -303 | -631 | 2 | -314 | -246 | -1,091 | -35 | -532 | -797 | -799 | -799 | -804 | |
| Net Cash Flow | 3 | 0 | 13 | -17 | 23 | 41 | 1,987 | -816 | -1,045 | 193 | 50 | -285 |
| Free Cash Flow | 519 | 642 | 774 | 502 | 221 | 33 | 1,037 | 1,199 | 1,987 | 258 | 215 | 221 |
| CFO/OP | 88% | 91% | 100% | 82% | 77% | 91% | 90% | 66% | 124% | 74% | 83% | 105% |
Ratios
Consolidated / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 87 | 85 | 81 | 95 | 86 | 96 | 88 | 99 | 84 | 100 | 106 | 103 |
| Inventory Days | 350 | 293 | 307 | 314 | 347 | 316 | 329 | 341 | 352 | 364 | 311 | 346 |
| Days Payable | 68 | 56 | 104 | 96 | 96 | 100 | 117 | 96 | 89 | 94 | 88 | 106 |
| Cash Conversion Cycle | 368 | 322 | 284 | 313 | 336 | 312 | 300 | 344 | 347 | 370 | 330 | 343 |
| Working Capital Days | 140 | 158 | 147 | 176 | 169 | 180 | 152 | 177 | 188 | 206 | 192 | 195 |
| ROCE % | 33% | 36% | 29% | 22% | 29% | 25% | 32% | 35% | 19% | 16% | 20% | 22% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
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| Exports as % of Total Sales % of total sales |
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| Generics as % of Revenue (Product Mix) % of revenue |
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Extracted by Screener AI
Documents
Announcements
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Closure of Trading Window
- Trading window closes from October 1, 2026 until 48 hours after Q2 FY26 results.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Clippings - Special Window for transfer and dematerialisation of physical shares
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
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Shareholder Meeting / Postal Ballot-Outcome of AGM
- 36th AGM held Aug 10, 2026; all resolutions passed, including ₹30 dividend per share.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Submission of transcript of Earnings Conference Call held on August 01, 2026
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2013
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Concalls
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Aug 2026Transcript REC
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May 2026Transcript
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Feb 2026Transcript REC
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Nov 2025Transcript REC
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Feb 2025Transcript REC
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Nov 2024Transcript REC
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May 2024Transcript REC
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May 2024REC
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Feb 2024Transcript REC
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Nov 2023Transcript
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Nov 2023Transcript
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Aug 2023Transcript REC
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May 2023Transcript REC
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Feb 2023Transcript
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Nov 2022Transcript
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Aug 2022Transcript
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May 2022Transcript
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Feb 2022Transcript
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Nov 2021Transcript
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May 2021Transcript
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Jan 2021Transcript
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Oct 2020Transcript
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Aug 2020Transcript
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May 2020REC
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Mar 2017Transcript
Business Overview:[1]
The company manufactures Generic Active pharmaceuticals ingredients, Custom synthesis of APIs & Intermediates along with Nutraceuticals for Global Pharmaceutical & Nutraceutical industry. These are segmented as:
a) Generic APIs:[2]
Company manufactures 30 Large Volume Generic APIs in 10’s to 100’s/1000’s of Tons each year and exports them to 100+ countries. Co. is world’s largest API manufacturer for 10 generic APIs.[3]
b) Custom Synthesis:[4]
Company under Custom Synthesis of APIs and Intermediates for global companies with a portfolio of products across diverse therapeutic areas. 12 out of top 20 Big Pharma Companies across US, EU and Japan have been associated with Divi’s for 10+ years
c) Nutraceutical:[5][6]
Company's Vishakhapatnam unit produces active ingredient and finished forms of Carotenoids. It is currently supplying carotenoids to all major food, dietary supplement and feed manufacturers globally. Company also offers customized ingredient solutions in liquids, beadlets and powder forms