Rubicon Research Ltd

Rubicon Research Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Rubicon Research Ltd

₹ 1,350 3.97%
19 Jun 1:54 p.m.
rubicon.co.in BSE: 544578 NSE: RUBICON
About

Incorporated in 1999, Rubicon Research Limited is a pharmaceutical company engaged in the development, manufacturing, & commercialization of differentiated formulations.[1]

Key Points

Business Profile[1]
Rubicon Research Limited is a formulation-focused pharmaceutical company focusing predominantly on the United States. The company has established a strong presence in the US generic and specialty drug market, which contributed 99.5% of its revenue in Q1 FY26.

Website BSE NSE
  • Market Cap ₹ 22,325 Cr.
  • Current Price ₹ 1,350
  • High / Low ₹ 1,400 / 571
  • Stock P/E 119
  • Book Value ₹ 82.0
  • Dividend Yield 0.00 %
  • ROCE 21.0 %
  • ROE 18.6 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 28.9% CAGR over last 5 years

Cons

  • Stock is trading at 16.4 times its book value
  • Company has high debtors of 199 days.
  • Working capital days have increased from 120 days to 197 days

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
255 245 301 278 336 302 390
186 181 240 215 257 239 284
Operating Profit 68 64 61 63 79 62 106
OPM % 27% 26% 20% 23% 24% 21% 27%
3 2 12 1 2 4 4
Interest 6 7 11 9 9 8 5
Depreciation 7 8 9 8 10 10 10
Profit before tax 58 51 54 47 62 50 94
Tax % 25% 25% 25% 26% 26% 25% 26%
43 38 40 35 46 37 70
EPS in Rs 2.82 2.51 2.61 2.28 2.97 2.26 4.24
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
263 331 400 394 631 1,074 1,306
173 220 360 375 557 803 995
Operating Profit 90 111 40 18 73 271 311
OPM % 34% 34% 10% 5% 12% 25% 24%
18 11 17 25 26 19 11
Interest 6 9 9 19 31 34 31
Depreciation 18 28 32 36 35 32 38
Profit before tax 84 85 17 -11 34 223 253
Tax % 29% 38% 1% 53% 29% 25% 26%
59 53 17 -17 24 168 188
EPS in Rs 116.53 104.46 32.90 -33.31 1.60 10.87 11.40
Dividend Payout % 2% 0% 0% -2% 1% 0% 13%
Compounded Sales Growth
10 Years: %
5 Years: 32%
3 Years: 49%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: 29%
3 Years: 136%
TTM: 12%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 19%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 5 5 5 5 15 15 17
Reserves 350 406 424 281 461 652 1,337
30 93 169 320 412 408 276
59 65 81 144 129 265 346
Total Liabilities 445 570 678 750 1,017 1,341 1,976
151 177 181 199 232 259 416
CWIP 2 4 3 25 10 6 26
Investments 35 32 19 0 34 36 43
256 356 476 526 741 1,040 1,490
Total Assets 445 570 678 750 1,017 1,341 1,976

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
9 47 -71 -75 83 30 39
-84 -29 -43 -32 -130 -10 -272
76 52 65 123 46 -34 297
Net Cash Flow 1 70 -49 16 -1 -15 64
Free Cash Flow -41 47 -71 -119 27 -40 -156
CFO/OP 40% 72% -156% -394% 136% 21% 43%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 194 169 213 209 146 170 199
Inventory Days 360 373 203 609 309 305 302
Days Payable 213 212 206 353 167 218 228
Cash Conversion Cycle 341 330 210 465 288 258 274
Working Capital Days 191 168 159 75 53 110 197
ROCE % 21% 5% 1% 9% 26% 21%

Insights

In beta
Mar 2015 Mar 2017 Mar 2019 Mar 2021 Mar 2023 Mar 2024 Mar 2025
R&D Expense as % of Revenue
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Active Approved Products (ANDAs/NDAs)
Number
Ambernath OSD Capacity Utilization
%
Ambernath OSD Production Volume
Million Tablets
Products Commercialized in US
Number
Satara Liquids Capacity Utilization
%
Satara Liquids Production Volume
Kiloliters
Top 10 Products Revenue Contribution
%
Total Full-time Employees
Number
Net Working Capital Days
Days
R&D Scientists/Professionals
Number

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Shareholding Pattern

Numbers in percentages

11 Recently
Dec 2025Mar 2026
59.99% 59.86%
7.99% 7.54%
9.45% 10.02%
22.57% 22.57%
No. of Shareholders 31,91433,738

* 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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