Natco Pharma Ltd

Natco Pharma Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Natco Pharma Ltd

₹ 868 -2.81%
08 Jun - close price
natcopharma.co.in BSE: 524816 NSE: NATCOPHARM
About

NATCO Pharma Limited (NATCO) is a vertically integrated, research and development focused pharmaceutical company engaged in developing, manufacturing, and marketing complex products for niche therapeutic areas. [1]
NATCO has established its presence in all three business segments viz. finished dosage formulations (“FDF”), active pharmaceutical ingredients (“APIs”), Contract Manufacturing Business.[2]

Key Points

Business Segments[1]
a) Pharmaceuticals (97% in FY26 vs 99% in FY25):
i) Export Formulation: [2] [3] [4]
The company manufactures and markets finished dosage formulations in 50+ countries, including the US, Canada, Brazil, and Europe, etc. It is ranked among the top 10 generic companies in sales in Canada. Its Major US partners include Sun Pharma, Alvogen, Teva, Mylan, Actavis, Lupin, Breckenridge Pharmaceuticals, and Dr. Reddy’s. Its international business focuses on Para IV filings, and it plans to expand into emerging markets like MENA, ASEAN, and LATAM.

Website BSE NSE
  • Market Cap ₹ 15,552 Cr.
  • Current Price ₹ 868
  • High / Low ₹ 1,227 / 789
  • Stock P/E 12.1
  • Book Value ₹ 478
  • Dividend Yield 0.69 %
  • ROCE 16.6 %
  • ROE 16.1 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 35.1% CAGR over last 5 years
  • Debtor days have improved from 97.4 to 77.1 days.

Cons

  • Tax rate seems low

* 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 Smallcap 100 BSE 250 SmallCap 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
781 1,048 930 625 965 1,237 1,293 408 1,157 1,193 1,264 529 609
454 545 488 387 512 474 502 378 596 653 712 408 516
Operating Profit 328 504 442 238 453 763 791 29 561 540 552 120 92
OPM % 42% 48% 48% 38% 47% 62% 61% 7% 48% 45% 44% 23% 15%
18 15 25 30 36 40 51 168 62 60 93 55 73
Interest 1 3 3 4 4 4 3 3 9 3 12 8 10
Depreciation 38 40 40 40 52 40 42 44 94 54 48 42 46
Profit before tax 306 475 424 224 432 758 797 150 521 543 586 125 110
Tax % 17% 15% 15% 14% 19% 16% 17% 17% 18% 15% 15% 15% -91%
254 405 360 192 349 636 661 125 428 464 501 107 210
EPS in Rs 13.92 22.63 20.11 10.72 19.49 35.53 36.91 6.97 23.90 25.91 27.97 5.97 11.70
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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
716 1,059 1,958 2,091 1,986 1,790 1,654 1,768 2,351 3,569 4,094 3,595
487 778 1,266 1,163 1,170 1,212 1,236 1,555 1,506 1,929 1,950 2,290
Operating Profit 229 281 692 928 816 578 418 213 845 1,640 2,144 1,305
OPM % 32% 26% 35% 44% 41% 32% 25% 12% 36% 46% 52% 36%
-2 13 13 39 130 124 101 95 86 102 321 281
Interest 30 22 18 15 19 21 11 13 9 14 20 32
Depreciation 42 50 54 66 80 98 115 138 151 172 220 190
Profit before tax 154 222 634 888 847 583 392 156 771 1,555 2,226 1,364
Tax % 1% 20% 22% 21% 21% 19% 21% 11% 17% 16% 17% 6%
153 176 495 698 667 474 310 139 637 1,307 1,850 1,282
EPS in Rs 9.20 10.13 28.39 37.84 36.48 26.06 16.97 7.62 34.90 72.95 103.31 71.55
Dividend Payout % 11% 12% 24% 22% 17% 26% 31% 59% 16% 13% 6% 7%
Compounded Sales Growth
10 Years: 13%
5 Years: 17%
3 Years: 15%
TTM: -12%
Compounded Profit Growth
10 Years: 22%
5 Years: 35%
3 Years: 27%
TTM: -28%
Stock Price CAGR
10 Years: 5%
5 Years: -5%
3 Years: 12%
1 Year: 1%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 22%
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 33 35 35 37 36 36 36 36 36 36 36 36
Reserves 846 1,302 1,665 3,088 3,527 3,833 4,055 4,155 4,666 5,556 7,298 8,517
309 110 221 173 384 314 256 400 161 366 275 709
207 396 427 438 408 463 405 387 525 596 661 1,026
Total Liabilities 1,395 1,843 2,347 3,736 4,356 4,647 4,752 4,978 5,388 6,554 8,270 10,287
573 706 829 1,015 1,215 1,574 2,006 2,174 2,234 2,287 2,517 2,615
CWIP 101 212 336 480 638 518 223 129 63 134 225 293
Investments 131 94 95 150 244 191 337 550 658 742 855 3,265
590 831 1,087 2,091 2,259 2,363 2,186 2,125 2,434 3,392 4,673 4,114
Total Assets 1,395 1,843 2,347 3,736 4,356 4,647 4,752 4,978 5,388 6,554 8,270 10,287

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
125 190 330 476 699 422 184 58 784 1,196 1,662 1,776
-148 -248 -291 -1,131 -645 -165 -3 -92 -437 -960 -1,444 -2,078
23 151 -46 652 -52 -261 -183 36 -347 -237 -212 302
Net Cash Flow -1 93 -6 -3 1 -4 -3 1 1 -1 6 0
Free Cash Flow 19 38 53 70 265 89 -14 -124 668 862 1,249 1,392
CFO/OP 63% 84% 65% 73% 107% 91% 62% 42% 110% 88% 94% 164%

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 96 88 87 106 90 109 88 119 123 110 105 77
Inventory Days 424 501 215 400 547 482 562 476 424 379 395 460
Days Payable 247 385 160 231 217 215 102 96 126 116 138 232
Cash Conversion Cycle 274 205 142 275 420 376 548 499 422 373 362 305
Working Capital Days 20 86 73 222 215 310 297 268 213 153 149 159
ROCE % 18% 18% 39% 34% 24% 14% 9% 3% 16% 29% 32% 17%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
R&D Spend as % of Sales
%

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Number of Employees
Number
Cumulative ANDA Filings (US)
Number
Active Drug Master Files (DMF) Filings
Number
Approved ANDAs (Cumulative)
Number
Para IV ANDA Filings (Pipeline)
Number
Manufacturing Facilities
Number
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
49.76% 49.71% 49.71% 49.71% 49.71% 49.62% 49.62% 49.56% 49.56% 49.48% 49.48% 49.41%
11.03% 12.82% 13.72% 16.14% 17.45% 17.51% 17.94% 17.49% 15.52% 14.09% 15.16% 17.37%
15.15% 14.01% 11.26% 9.69% 7.86% 6.75% 5.59% 5.64% 5.81% 5.87% 5.39% 5.46%
24.08% 23.48% 25.32% 24.46% 24.99% 26.13% 26.88% 27.30% 29.12% 30.56% 29.97% 27.74%
No. of Shareholders 1,55,1811,63,7532,07,5712,28,4672,51,4853,02,9443,45,3324,05,2224,29,4344,19,6994,24,1674,10,970

* 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

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