Emcure Pharmaceuticals Ltd
Incorporated in 1981, Emcure Pharmaceuticals
Ltd manufactures and markets pharmaceutical products globally[1]
- Market Cap ₹ 32,488 Cr.
- Current Price ₹ 1,714
- High / Low ₹ 1,830 / 1,229
- Stock P/E 43.2
- Book Value ₹ 196
- Dividend Yield 0.18 %
- ROCE 23.7 %
- ROE 22.3 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 8.76 times its book value
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 2,454 | 2,376 | 3,154 | 3,387 | 3,107 | 3,498 | 4,382 | 5,243 | |
| 1,883 | 1,948 | 2,410 | 2,593 | 2,668 | 3,056 | 3,759 | 4,118 | |
| Operating Profit | 570 | 428 | 743 | 795 | 439 | 442 | 623 | 1,125 |
| OPM % | 23% | 18% | 24% | 23% | 14% | 13% | 14% | 21% |
| 56 | 89 | 94 | 133 | 119 | 129 | 142 | 184 | |
| Interest | 127 | 137 | 123 | 145 | 167 | 166 | 113 | 118 |
| Depreciation | 130 | 155 | 156 | 166 | 179 | 205 | 225 | 247 |
| Profit before tax | 370 | 225 | 557 | 616 | 212 | 200 | 428 | 944 |
| Tax % | 23% | 22% | 25% | 28% | 25% | 20% | 26% | 22% |
| 284 | 175 | 420 | 447 | 160 | 161 | 317 | 733 | |
| EPS in Rs | 15.68 | 9.69 | 23.25 | 24.71 | 8.85 | 8.88 | 16.74 | 38.66 |
| Dividend Payout % | 16% | 26% | 4% | 12% | 23% | 23% | 18% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 19% |
| TTM: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 66% |
| TTM: | 161% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 33% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 16% |
| Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 181 | 181 | 181 | 181 | 181 | 181 | 189 | 190 |
| Reserves | 1,597 | 1,734 | 2,121 | 1,532 | 1,661 | 1,754 | 2,835 | 3,521 |
| 1,224 | 1,243 | 1,665 | 1,579 | 1,773 | 1,595 | 857 | 1,597 | |
| 576 | 713 | 897 | 1,032 | 1,001 | 1,226 | 1,534 | 1,607 | |
| Total Liabilities | 3,578 | 3,871 | 4,863 | 4,323 | 4,616 | 4,757 | 5,416 | 6,914 |
| 1,100 | 1,166 | 1,278 | 1,151 | 1,433 | 1,718 | 1,759 | 1,766 | |
| CWIP | 406 | 326 | 192 | 239 | 253 | 106 | 99 | 110 |
| Investments | 311 | 408 | 864 | 563 | 690 | 684 | 678 | 1,424 |
| 1,761 | 1,971 | 2,529 | 2,369 | 2,240 | 2,248 | 2,880 | 3,614 | |
| Total Assets | 3,578 | 3,871 | 4,863 | 4,323 | 4,616 | 4,757 | 5,416 | 6,914 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 371 | 385 | 775 | 428 | 505 | 585 | 558 | 424 | |
| -276 | -169 | -836 | -394 | -271 | -173 | -438 | -948 | |
| -53 | -46 | 31 | -343 | -55 | -288 | -49 | 526 | |
| Net Cash Flow | 42 | 170 | -30 | -309 | 180 | 124 | 71 | 1 |
| Free Cash Flow | 85 | 287 | 677 | 243 | 225 | 342 | 378 | 178 |
| CFO/OP | 87% | 97% | 120% | 75% | 134% | 148% | 100% | 57% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 135 | 175 | 116 | 109 | 124 | 115 | 99 | 107 |
| Inventory Days | 243 | 200 | 182 | 202 | 214 | 206 | 189 | 197 |
| Days Payable | 159 | 197 | 168 | 166 | 203 | 220 | 204 | 186 |
| Cash Conversion Cycle | 220 | 177 | 130 | 144 | 135 | 101 | 84 | 118 |
| Working Capital Days | 50 | 60 | 19 | 17 | 0 | -4 | 61 | 53 |
| ROCE % | 13% | 20% | 21% | 11% | 10% | 14% | 24% |
Insights
In beta| Mar 2016 | Mar 2019 | Mar 2020 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Number of Manufacturing Facilities Number |
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| R&D Spend as % of Revenue % |
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| Number of Granted Patents Number |
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| Number of Large Brand Families (>50Cr Revenue in India) Number |
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| Product Launches - Global Number |
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| R&D Expenditure (Percentage of Turnover) % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
20 May - Intimation of schedule of Analyst/ Investor Meeting on June 09, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
20 May - Emcure schedules investor meetings with Ambit, 360 ONE, Axis Capital and ICICI Securities in May-June 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
20 May - Intimation of schedule of Analyst/ Investor Meeting on May 27, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
20 May - Intimation of schedule of Analyst/ Investor Meeting on May 26, 2026
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - US FDA Inspection At Our Formulations Facility Located At Sanand, Ahmedabad, Gujarat, India.
16 May - US FDA inspected Sanand facility from May 6-15, 2026; issued Form 483 with 7 procedural observations.
Concalls
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025TranscriptPPTREC
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May 2025TranscriptPPT
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Feb 2025TranscriptPPTREC
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Nov 2024TranscriptPPT
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Aug 2024TranscriptPPT
Business Overview:[1][2]
EPL develops, manufactures and markets a broad range of pharmaceutical and biopharmaceutical products across a wide range of dosage forms, including oral solids, oral liquids, injectables, including liposomal and lyophilized injectables, biotherapeutics and complex APIs, including chiral molecules, iron molecules and cytotoxic products. It has a presence in all major therapeutic areas including Gynaecology, cardiology, blood-related, oncology, respiratory, CNS & HIV etc. Company has 350+ brands, with a wide network across 70+ countries.