Ipca Laboratories Ltd

Ipca Labs. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ipca Laboratories Ltd

₹ 1,524 -3.05%
29 May - close price
ipca.com BSE: 524494 NSE: IPCALAB
About

Ipca Laboratories is engaged in the manufacturing and marketing of pharmaceuticals.(Source : 201903 Annual Report Page No: 68)

Key Points

Integrated nature of operations
Ipca Laboratories is a fully-integrated pharmaceutical company that manufactures over 350 formulations and 80 APIs for various therapeutic segments. [1]
IPCA is among India’s top 20 pharmaceutical companies. [2]

Business segments FY22:
API Business (25%) [3]
Ipca produces over 80 APIs, nearly 79% of the APIs and Intermediates business is from exports making them one of India’s top exporters of APIs, serving over 100 countries around the globe. The core strategic focus has been on backward integration, resulting in superior supply chain reliability and cost competitiveness [4] [1] [5]

Website BSE NSE
  • Market Cap ₹ 38,675 Cr.
  • Current Price ₹ 1,524
  • High / Low ₹ 1,679 / 1,252
  • Stock P/E 33.5
  • Book Value ₹ 315
  • Dividend Yield 0.26 %
  • ROCE 20.0 %
  • ROE 15.5 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 7.48% over past five years.
  • Company has a low return on equity of 12.8% over last 3 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 Nifty 500 Nifty Pharma BSE 150 MidCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,402 1,486 1,663 1,507 1,511 1,566 1,811 1,663 1,638 1,747 1,930 1,845 1,814
1,226 1,189 1,314 1,234 1,218 1,213 1,409 1,252 1,280 1,340 1,466 1,368 1,383
Operating Profit 176 298 348 273 292 353 402 411 359 407 465 477 431
OPM % 13% 20% 21% 18% 19% 23% 22% 25% 22% 23% 24% 26% 24%
33 43 -3 17 -79 15 17 17 -260 25 22 18 -1
Interest 18 31 39 27 24 19 17 10 16 12 11 10 10
Depreciation 59 60 61 63 62 61 63 63 65 63 67 69 70
Profit before tax 132 250 245 200 127 288 339 356 17 357 408 417 350
Tax % 36% 33% 34% 32% 49% 29% 28% 25% 479% 27% 25% 27% 25%
85 167 162 137 65 204 244 268 -65 262 305 303 262
EPS in Rs 3.34 6.57 6.39 5.40 2.55 8.05 9.62 10.55 -2.56 10.33 12.01 11.96 10.34
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,088 2,804 3,102 3,193 3,606 4,338 5,114 5,405 5,775 6,124 6,635 7,337
2,556 2,526 2,666 2,748 2,909 3,419 3,596 4,164 4,858 4,909 5,106 5,556
Operating Profit 532 277 436 446 697 918 1,518 1,241 917 1,215 1,529 1,780
OPM % 17% 10% 14% 14% 19% 21% 30% 23% 16% 20% 23% 24%
32 26 19 39 54 64 61 53 108 -23 -212 64
Interest 29 31 26 27 21 19 11 10 46 123 65 44
Depreciation 177 161 171 174 172 179 188 210 229 246 252 269
Profit before tax 358 111 258 283 557 785 1,380 1,074 750 822 1,000 1,532
Tax % 28% 17% 27% 18% 18% 17% 17% 20% 33% 35% 35% 26%
256 93 188 233 455 652 1,141 860 506 530 651 1,133
EPS in Rs 10.15 3.67 7.46 9.24 18.00 25.82 44.97 33.91 19.93 20.91 25.65 44.64
Dividend Payout % 5% 0% 7% 5% 8% 10% 9% 12% 20% 19% 16% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: 7%
3 Years: 8%
TTM: 11%
Compounded Profit Growth
10 Years: 29%
5 Years: 0%
3 Years: 33%
TTM: 41%
Stock Price CAGR
10 Years: 22%
5 Years: 8%
3 Years: 30%
1 Year: 7%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 13%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 2,208 2,258 2,450 2,670 3,111 3,652 4,727 5,450 5,852 6,323 6,866 7,954
929 865 716 628 444 474 236 776 1,440 1,152 906 295
662 756 777 785 877 1,033 1,021 1,186 1,129 1,159 1,273 1,501
Total Liabilities 3,824 3,905 3,968 4,108 4,458 5,185 6,010 7,438 8,447 8,659 9,071 9,776
1,753 1,977 1,946 1,855 1,740 1,841 1,869 2,153 2,479 2,524 2,537 2,981
CWIP 267 129 95 73 66 84 182 297 123 175 490 448
Investments 82 97 212 216 322 649 868 1,339 1,057 2,654 2,693 2,536
1,722 1,702 1,716 1,964 2,329 2,611 3,092 3,650 4,789 3,306 3,351 3,810
Total Assets 3,824 3,905 3,968 4,108 4,458 5,185 6,010 7,438 8,447 8,659 9,071 9,776

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
455 696 271 324 496 561 1,096 832 762 831 1,374
-686 -214 -146 -119 -123 -499 -560 -812 -710 -1,355 -739
255 -414 -156 -130 -223 -139 -307 426 506 -465 -428
Net Cash Flow 25 68 -31 74 150 -76 229 446 559 -990 207
Free Cash Flow -99 456 138 253 430 301 749 384 362 474 776
CFO/OP 100% 261% 75% 86% 87% 77% 88% 82% 107% 91% 111%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 42 57 59 68 64 71 55 56 59 61 64 63
Inventory Days 293 290 288 286 332 312 350 364 293 309 297 336
Days Payable 97 145 128 136 146 133 121 101 80 78 93 119
Cash Conversion Cycle 238 203 219 218 250 250 284 319 272 293 268 280
Working Capital Days 69 62 75 82 93 91 108 105 74 87 85 110
ROCE % 13% 4% 9% 9% 17% 20% 30% 19% 11% 14% 17% 20%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Domestic Formulations Sales
INR Crores

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R&D Expenditure
INR Crores
Domestic Therapy Contribution - Pain Management
%
US FDA ANDAs Granted (Cumulative)
Number
Field Force (Marketing & Distribution Personnel)
Number
Domestic Market Rank (IQVIA)
Rank
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
46.29% 46.29% 46.29% 46.30% 46.30% 46.30% 44.72% 44.72% 44.72% 44.72% 44.72% 44.72%
10.05% 9.86% 10.27% 10.51% 10.85% 10.83% 11.06% 10.75% 10.67% 10.42% 10.62% 10.63%
34.86% 34.72% 34.19% 34.05% 33.46% 33.90% 35.36% 35.73% 35.88% 36.45% 36.99% 37.13%
0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32%
8.46% 8.80% 8.93% 8.82% 9.07% 8.64% 8.53% 8.45% 8.41% 8.09% 7.33% 7.21%
No. of Shareholders 99,88995,93082,80981,16584,75382,97590,18988,30685,58282,87077,67382,184

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

Credit ratings

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