Novartis India Ltd
- Market Cap ₹ 1,977 Cr.
- Current Price ₹ 801
- High / Low ₹ 1,100 / 745
- Stock P/E 18.6
- Book Value ₹ 314
- Dividend Yield 3.12 %
- ROCE 17.0 %
- ROE 13.2 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is providing a good dividend yield of 3.12%.
- Company has delivered good profit growth of 58.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 82.3%
Cons
- The company has delivered a poor sales growth of -4.06% over past five years.
- Company has a low return on equity of 12.7% over last 3 years.
- Earnings include an other income of Rs.41.2 Cr.
* 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 Healthcare BSE SmallCap BSE Allcap
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 859 | 870 | 690 | 656 | 564 | 491 | 438 | 381 | 400 | 379 | 335 | 356 | 355 | |
| 861 | 874 | 656 | 631 | 570 | 478 | 426 | 355 | 373 | 314 | 270 | 265 | 254 | |
| Operating Profit | -1 | -4 | 34 | 25 | -6 | 12 | 12 | 27 | 27 | 65 | 65 | 91 | 101 |
| OPM % | -0% | -0% | 5% | 4% | -1% | 2% | 3% | 7% | 7% | 17% | 19% | 26% | 28% |
| 95 | 101 | 207 | 71 | 172 | 78 | 36 | 33 | -17 | 58 | 62 | 42 | 41 | |
| Interest | 0 | 0 | 0 | 1 | 6 | 2 | 6 | 8 | 5 | 2 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 3 | 4 | 3 | 3 | 13 | 12 | 10 | 6 | 3 | 2 | 2 |
| Profit before tax | 90 | 93 | 237 | 92 | 158 | 86 | 29 | 40 | -4 | 115 | 123 | 130 | 139 |
| Tax % | -10% | 15% | 16% | 38% | 50% | 40% | 65% | 48% | -3% | 10% | 31% | 23% | |
| 99 | 79 | 198 | 57 | 78 | 52 | 10 | 21 | -4 | 103 | 85 | 101 | 107 | |
| EPS in Rs | 30.83 | 24.75 | 62.04 | 20.33 | 31.74 | 20.97 | 4.08 | 8.46 | -1.51 | 41.86 | 34.50 | 40.87 | 43.18 |
| Dividend Payout % | 32% | 40% | 16% | 49% | 32% | 48% | 245% | 118% | -663% | 113% | 72% | 61% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -9% |
| 5 Years: | -4% |
| 3 Years: | -4% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 58% |
| 3 Years: | 35% |
| TTM: | 22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 3% |
| 3 Years: | 6% |
| 1 Year: | -11% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 9% |
| 3 Years: | 13% |
| Last Year: | 13% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 14 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 945 | 986 | 1,178 | 906 | 721 | 747 | 708 | 699 | 679 | 763 | 732 | 773 | 763 |
| 0 | 0 | 0 | 0 | 0 | 0 | 68 | 62 | 24 | 22 | 7 | 5 | 4 | |
| 241 | 244 | 239 | 230 | 377 | 223 | 289 | 229 | 242 | 186 | 173 | 158 | 153 | |
| Total Liabilities | 1,202 | 1,246 | 1,433 | 1,150 | 1,111 | 982 | 1,078 | 1,002 | 958 | 983 | 925 | 948 | 932 |
| 8 | 8 | 6 | 6 | 5 | 15 | 76 | 64 | 24 | 19 | 7 | 5 | 4 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 1,194 | 1,238 | 1,426 | 1,144 | 1,106 | 967 | 1,001 | 938 | 934 | 964 | 918 | 943 | 928 | |
| Total Assets | 1,202 | 1,246 | 1,433 | 1,150 | 1,111 | 982 | 1,078 | 1,002 | 958 | 983 | 925 | 948 | 932 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -5 | -60 | 57 | -41 | 161 | -194 | -23 | -69 | 39 | 45 | 113 | 75 | |
| 22 | 719 | -630 | 424 | 69 | 274 | 56 | 95 | 87 | -153 | 33 | -3 | |
| -38 | -38 | -39 | -332 | -268 | -30 | -41 | -37 | -36 | -30 | -121 | -64 | |
| Net Cash Flow | -20 | 622 | -612 | 51 | -38 | 50 | -9 | -11 | 90 | -139 | 26 | 7 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 33 | 35 | 27 | 23 | 28 | 34 | 31 | 37 | 41 | 35 | 45 | 41 |
| Inventory Days | 96 | 103 | 92 | 104 | 84 | 111 | 117 | 119 | 117 | 99 | 82 | 74 |
| Days Payable | 100 | 98 | 89 | 87 | 158 | 168 | 145 | 137 | 148 | 108 | 112 | 93 |
| Cash Conversion Cycle | 29 | 40 | 30 | 40 | -45 | -23 | 3 | 19 | 10 | 26 | 15 | 22 |
| Working Capital Days | 353 | 6 | -35 | -14 | -99 | 7 | -1 | 62 | -23 | -37 | -59 | -45 |
| ROCE % | 10% | 9% | 22% | 9% | 17% | 12% | 5% | 6% | 6% | 15% | 16% | 17% |
Documents
Announcements
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Board Meeting Intimation for Intimation Of The Meeting Of Board Of Novartis India Limited To Inter Alia, Consider And Approve The Unaudited Financial Results For Quarter Ended December 31, 2025.
30 Dec - Board meeting Jan 28, 2026 to approve unaudited Q3 results; trading window closed Jan 1, 2026.
- Closure of Trading Window 30 Dec
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 (The 'Listing Regulations')
24 Nov 2025 - Commissioner Appeals upheld Service Tax demand INR 15,01,762; penalties INR 15,03,762; total INR 30,05,524; appeal planned.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
24 Nov 2025 - Appeals Commissioner confirmed Service Tax demand INR15,01,762; penalty INR15,03,762; total INR30,05,524; company to appeal.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
29 Oct 2025 - Of newspaper advertisement regarding the publication of unaudited financial results for the quarter and half-year ended September 30, 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business
The company is primarily engaged in the pharmaceutical business in the area of pain management, organ transplantation, neuroscience, etc. [1]