Ipca Laboratories Ltd

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

Ipca Laboratories Ltd

₹ 1,556 3.20%
03 Jun 3:21 p.m.
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 ₹ 39,471 Cr.
  • Current Price ₹ 1,556
  • High / Low ₹ 1,679 / 1,252
  • Stock P/E 32.8
  • Book Value ₹ 318
  • Dividend Yield 0.27 %
  • ROCE 17.3 %
  • ROE 16.0 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 4.79 times its book value
  • Company has a low return on equity of 13.1% 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,512 1,585 2,034 2,053 2,033 2,093 2,355 2,245 2,247 2,309 2,556 2,392 2,388
1,331 1,278 1,673 1,722 1,711 1,700 1,913 1,782 1,818 1,892 2,012 1,859 1,905
Operating Profit 181 308 361 331 322 393 441 463 429 416 545 533 484
OPM % 12% 19% 18% 16% 16% 19% 19% 21% 19% 18% 21% 22% 20%
36 45 -1 91 -118 21 26 20 -179 33 -30 38 48
Interest 18 31 44 33 29 24 23 17 22 19 20 18 20
Depreciation 70 69 90 100 98 99 100 98 100 100 103 108 107
Profit before tax 129 252 225 289 77 290 345 368 128 331 392 446 404
Tax % 37% 34% 39% 23% 96% 31% 29% 25% 49% 29% 28% 18% 24%
78 164 136 221 1 199 246 276 64 233 281 364 307
EPS in Rs 3.02 6.42 5.72 7.09 2.35 7.58 9.05 9.78 2.67 9.19 11.14 12.86 11.79
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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
3,144 2,867 3,156 3,258 3,746 4,619 5,395 5,797 6,204 7,662 8,897 9,646
2,604 2,573 2,705 2,803 3,051 3,715 3,843 4,472 5,272 6,338 7,166 7,668
Operating Profit 541 294 451 455 695 904 1,552 1,325 932 1,324 1,731 1,979
OPM % 17% 10% 14% 14% 19% 20% 29% 23% 15% 17% 19% 21%
32 21 11 41 56 65 59 54 123 17 -114 88
Interest 32 35 27 28 22 20 12 11 48 141 88 76
Depreciation 180 163 173 178 182 210 209 232 262 357 398 418
Profit before tax 361 117 262 291 546 739 1,389 1,136 745 843 1,131 1,573
Tax % 28% 18% 26% 18% 19% 18% 17% 20% 34% 37% 30% 24%
254 93 195 239 442 604 1,141 890 479 523 785 1,184
EPS in Rs 10.07 3.69 7.71 9.49 17.60 23.99 44.94 34.85 18.58 21.57 29.08 44.98
Dividend Payout % 5% 0% 6% 5% 9% 10% 9% 11% 22% 19% 14% 0%
Compounded Sales Growth
10 Years: 13%
5 Years: 12%
3 Years: 16%
TTM: 8%
Compounded Profit Growth
10 Years: 30%
5 Years: 1%
3 Years: 38%
TTM: 42%
Stock Price CAGR
10 Years: 22%
5 Years: 8%
3 Years: 28%
1 Year: 8%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 13%
Last Year: 16%

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 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 2,183 2,234 2,430 2,663 3,097 3,602 4,676 5,439 5,817 6,307 6,923 8,038
935 867 716 628 465 501 265 807 1,481 1,438 1,363 809
669 765 788 799 961 1,130 1,099 1,349 1,300 3,326 3,432 3,498
Total Liabilities 3,812 3,892 3,960 4,116 4,549 5,258 6,066 7,622 8,623 11,097 11,744 12,370
1,800 2,014 1,983 1,953 1,940 2,059 2,072 2,402 2,751 4,554 4,267 4,638
CWIP 267 129 95 73 66 133 235 306 140 343 622 762
Investments 16 26 136 87 120 310 505 989 626 862 980 844
1,729 1,723 1,746 2,003 2,422 2,756 3,254 3,924 5,105 5,339 5,875 6,127
Total Assets 3,812 3,892 3,960 4,116 4,549 5,258 6,066 7,622 8,623 11,097 11,744 12,370

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
468 709 282 341 501 570 1,090 856 806 945 1,321
-689 -218 -149 -135 -165 -509 -521 -851 -725 -1,215 -870
251 -462 -159 -130 -183 -137 -306 427 507 -553 -283
Net Cash Flow 29 29 -26 75 153 -76 264 432 588 -823 169
Free Cash Flow -207 463 147 206 322 277 731 380 347 543 551
CFO/OP 100% 251% 74% 88% 88% 80% 86% 80% 110% 94% 97%

Ratios

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
Debtor Days 41 57 58 67 66 71 55 57 58 80 77 76
Inventory Days 293 289 290 286 316 294 337 337 276 350 336 353
Days Payable 97 145 130 137 154 135 140 101 83 110 111 122
Cash Conversion Cycle 237 200 218 216 228 229 251 293 251 321 302 308
Working Capital Days 68 61 74 80 88 88 103 102 71 111 101 133
ROCE % 14% 5% 9% 10% 16% 19% 31% 20% 11% 13% 15% 17%

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 ・Standalone data

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

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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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