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 11.0
  • Book Value ₹ 515
  • Dividend Yield 0.69 %
  • ROCE 17.1 %
  • ROE 16.9 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 27.7% CAGR over last 5 years

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

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
898 1,140 1,031 759 1,068 1,363 1,371 475 1,221 1,329 1,363 647 739
559 612 573 490 571 558 567 436 673 758 784 489 612
Operating Profit 339 528 458 268 497 805 804 39 548 571 579 159 128
OPM % 38% 46% 44% 35% 47% 59% 59% 8% 45% 43% 42% 25% 17%
29 20 29 37 42 48 64 176 66 62 100 58 78
Interest 3 4 4 5 6 5 4 4 10 3 13 10 11
Depreciation 41 44 44 44 56 44 46 47 98 58 52 46 50
Profit before tax 324 500 440 256 478 804 818 164 506 572 614 161 144
Tax % 15% 16% 16% 17% 19% 17% 17% 19% 20% 16% 16% 13% -62%
276 420 369 213 386 668 676 132 406 480 518 151 269
EPS in Rs 15.11 23.47 20.60 11.88 21.57 37.32 37.81 7.43 22.70 26.84 28.94 8.46 14.96
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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
825 1,042 2,020 2,185 2,094 1,915 2,052 1,945 2,707 3,999 4,430 4,078
615 777 1,337 1,256 1,300 1,332 1,446 1,681 1,772 2,245 2,234 2,642
Operating Profit 210 266 683 928 795 583 606 264 936 1,754 2,196 1,436
OPM % 25% 25% 34% 42% 38% 30% 30% 14% 35% 44% 50% 35%
0 12 14 40 130 107 104 99 105 126 354 298
Interest 32 23 18 15 19 22 13 18 14 19 24 37
Depreciation 47 51 54 66 81 100 117 143 164 187 235 207
Profit before tax 132 204 624 887 825 569 580 202 862 1,674 2,291 1,491
Tax % 1% 24% 22% 22% 22% 19% 24% 16% 17% 17% 18% 8%
130 156 485 695 642 458 442 170 715 1,388 1,883 1,418
EPS in Rs 8.10 9.02 27.88 37.74 35.24 25.31 24.18 9.31 39.18 77.51 105.26 79.20
Dividend Payout % 12% 14% 24% 22% 18% 27% 22% 48% 14% 12% 6% 6%
Compounded Sales Growth
10 Years: 15%
5 Years: 15%
3 Years: 15%
TTM: -8%
Compounded Profit Growth
10 Years: 25%
5 Years: 28%
3 Years: 26%
TTM: -25%
Stock Price CAGR
10 Years: 5%
5 Years: -5%
3 Years: 12%
1 Year: 1%
Return on Equity
10 Years: 19%
5 Years: 19%
3 Years: 23%
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 33 35 35 37 36 36 36 36 36 36 36 36
Reserves 813 1,261 1,614 3,035 3,452 3,737 4,085 4,227 4,837 5,817 7,571 9,185
312 113 222 173 386 316 268 416 167 371 279 714
226 413 446 470 428 498 403 430 617 682 744 1,139
Total Liabilities 1,384 1,822 2,318 3,715 4,303 4,588 4,792 5,109 5,657 6,906 8,631 11,074
710 710 833 1,019 1,227 1,584 2,023 2,312 2,427 2,491 2,698 2,803
CWIP 129 212 336 480 638 518 223 130 64 137 225 294
Investments 2 22 32 76 169 112 304 308 392 539 474 3,127
543 878 1,116 2,140 2,270 2,373 2,242 2,360 2,774 3,739 5,234 4,850
Total Assets 1,384 1,822 2,318 3,715 4,303 4,588 4,792 5,109 5,657 6,906 8,631 11,074

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
93 112 346 464 669 417 299 46 849 1,212 1,697 1,768
-120 -176 -299 -1,116 -611 -175 -107 4 -465 -1,026 -1,436 -2,082
29 154 -48 651 -51 -251 -186 35 -363 -247 -211 298
Net Cash Flow 2 90 -1 -2 7 -8 6 85 21 -62 50 -16
Free Cash Flow -25 -44 66 57 225 81 92 -142 674 855 1,300 1,379
CFO/OP 55% 60% 69% 72% 107% 90% 71% 36% 110% 85% 94% 151%

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 85 92 86 106 88 105 73 116 115 109 103 79
Inventory Days 331 482 213 389 545 534 570 496 432 357 405 480
Days Payable 189 372 160 239 224 244 104 105 153 120 145 216
Cash Conversion Cycle 228 202 138 257 410 395 539 507 394 345 362 343
Working Capital Days 25 97 71 215 207 295 246 258 198 151 151 163
ROCE % 17% 18% 39% 35% 23% 14% 13% 4% 18% 30% 33% 17%

Insights

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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
% ・Standalone data

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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)
% ・Standalone data

Extracted by Screener AI

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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