Rubicon Research Ltd

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

Rubicon Research Ltd

₹ 1,373 1.31%
17 Jun 2:15 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 ₹ 22,616 Cr.
  • Current Price ₹ 1,373
  • High / Low ₹ 1,400 / 571
  • Stock P/E 91.6
  • Book Value ₹ 78.2
  • Dividend Yield 0.00 %
  • ROCE 28.4 %
  • ROE 27.0 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 52.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.5%

Cons

  • Stock is trading at 17.3 times its book value
  • Working capital days have increased from 68.8 days to 104 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

Part of BSE Healthcare BSE IPO Nifty Microcap 250 Nifty Total Market Nifty IPO

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
296 313 358 352 412 476 514
234 244 286 273 318 367 395
Operating Profit 62 70 72 79 94 108 119
OPM % 21% 22% 20% 22% 23% 23% 23%
3 0 0 1 1 4 3
Interest 7 8 12 11 11 10 10
Depreciation 8 9 10 10 12 12 12
Profit before tax 49 53 51 60 72 91 99
Tax % 30% 28% 29% 27% 25% 20% 22%
34 38 36 43 54 73 77
EPS in Rs 2.27 2.50 2.35 2.81 3.49 4.42 4.66
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
263 315 314 394 854 1,284 1,754
182 223 353 375 699 1,028 1,354
Operating Profit 81 92 -39 18 155 256 400
OPM % 31% 29% -12% 5% 18% 20% 23%
18 10 17 25 18 12 8
Interest 6 9 10 19 31 37 42
Depreciation 18 29 34 36 39 37 45
Profit before tax 74 63 -66 -11 103 195 321
Tax % 33% 51% 2% 53% 12% 31% 23%
49 31 -67 -17 91 134 247
EPS in Rs 97.46 60.53 -132.39 -33.31 5.98 8.72 14.98
Dividend Payout % 2% 2% -0% -2% 0% 0% 10%
Compounded Sales Growth
10 Years: %
5 Years: 41%
3 Years: 65%
TTM: 37%
Compounded Profit Growth
10 Years: %
5 Years: 52%
3 Years: 155%
TTM: 85%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 28%
Last Year: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 5 5 5 5 15 15 17
Reserves 335 369 300 281 370 526 1,272
30 93 175 320 425 418 311
60 71 79 144 300 493 727
Total Liabilities 430 538 560 750 1,109 1,451 2,327
157 188 193 199 307 327 532
CWIP 2 6 3 25 10 7 40
Investments 19 14 0 0 0 0 27
252 330 364 526 793 1,118 1,728
Total Assets 430 538 560 750 1,109 1,451 2,327

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5 62 -63 -75 21 159 205
-84 -46 -46 -32 -68 -65 -410
80 52 63 123 44 -40 283
Net Cash Flow 1 67 -45 16 -4 54 78
Free Cash Flow -54 -10 -117 -119 -35 91 -24
CFO/OP 40% 104% 138% -394% 25% 77% 78%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 194 158 162 209 129 92 106
Inventory Days 360 508 502 609 428 574 479
Days Payable 183 271 320 353 252 263 248
Cash Conversion Cycle 371 395 345 465 305 403 337
Working Capital Days 183 149 107 75 57 46 104
ROCE % 17% -12% 1% 19% 26% 28%

Insights

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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
% ・Standalone data
Ambernath OSD Production Volume
Million Tablets ・Standalone data
Products Commercialized in US
Number
Satara Liquids Capacity Utilization
% ・Standalone data
Satara Liquids Production Volume
Kiloliters ・Standalone data
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

3 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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