Wockhardt Ltd

AI

Wockhardt Ltd

₹ 1,882 -0.92%
26 Aug - close price
About

Wockhardt is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments). [1]

Key Points

Business Divisions:
a) New Drug Discovery: [1] [2]
The company’s New Drug Discovery
programme focuses on developing
novel antibiotics to address the
growing threat of antimicrobial
resistance (AMR) and unmet
needs in treating MDR and
XDR infections. It follows a
“discovery-to-delivery”
approach, advancing
first-in-class and
differentiated
antibiotics
from research
and clinical
development
to commercialisation
across India and inter
national markets. During
FY26, 5 novel antibiotics,
including Emrok, Emrok
O, Miqnaf, Zaynich, and
Foviscu, completed Phase
3 development, while Odrate
progressed to Phase 2. The
portfolio covers infections
including MRSA, ESBL-producing
and carbapenem-resistant pathogens, pneumonia and complicated urinary
tract infections.
b) Branded Pharmaceuticals:[3]
The company is engaged in the
development, manufacturing, and
marketing of finished formulations, biopharmaceuticals, branded generics,
OTC, and prescription products across
various therapeutic segments. Its key biopharmaceutical products include
Glaritus, Wosulin, Wepox, and recombinant human insulin. It ranks among the Top 3
in around 20 products in the US, among
theTop 5 generic companies in the UK,
and as the largest ** generic company in
Ireland’s hospital segment.
c) Contract Manufacturing: [4]
The company offers contract manufacturing services from product development to high-volume commercial manufacturing. Its full
turnkey service is supported by experienced teams across development, technology transfer, manufacturing, quality assurance, regulatory affairs, logistics, engineering, and purchasing.
d) Biosimilar: [5][6]
The company focuses on developing
and manufacturing biosimilar and bio
better products, with
diabetes as a
key focus area. Its portfolio includes
rapid, fast, and long-acting insulin
formulations, available in vials and
cartridges, along with patented
insulin pens. It has applied for
118 biotech product patents
globally and holds
57 patents
in the biosimilar and bio-better
development phase, out of which
23 patents are for the company’s
insulin pen globally. In FY26, the
company has obtained patents
in
10 European countries
for its new combination drug
product.
e) Vaccines:[7][8]
The company manufactures vaccines across its UK and India facilities. Its Wrexham facility has manufactured the
AstraZeneca-Oxford COVID-19 vaccine, and the company has partnered with the Serum Institute of India for vaccine manufacturing in the UK. Its Indian facilities are approved for vaccine manufacturing and exports of up to 1 Bn doses.
f) API:[9]
The company manufactures complex APIs and formulations and has developed
140+ US ANDAs and 60+ EU CTD dossiers, covering multiple dosage forms and niche products. It is also among the largest** manufacturers of Dextromethorphan HBr API globally and explores licensing opportunities across the US and Europe.

  • Market Cap 30,627 Cr.
  • Current Price 1,882
  • High / Low 2,422 / 1,087
  • Stock P/E 92.5
  • Book Value 190
  • Dividend Yield 0.00 %
  • ROCE 9.74 %
  • ROE 9.99 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 9.92 times its book value
  • Company has a low return on equity of -1.83% over last 3 years.
  • Company has high debtors of 178 days.
  • Promoter holding has decreased over last 3 years: -9.31%
  • Working capital days have increased from -52.7 days to 72.4 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
251 260 288 355 352 370 325 355 413 380 430 516 561
256 270 263 401 272 321 263 249 282 267 317 355 403
Operating Profit -5 -10 25 -46 80 49 62 106 131 113 113 161 158
OPM % -2.0% -3.9% 9% -13% 23% 13% 19% 30% 32% 30% 26% 31% 28%
-8 6 5 24 27 11 6 14 25 30 17 90 33
Interest 58 59 61 59 58 53 48 40 41 44 50 41 43
Depreciation 44 44 43 45 43 43 42 40 46 45 52 43 41
Profit before tax -115 -107 -74 -126 6 -36 -22 40 69 54 28 167 107
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-115 -107 -74 -126 6 -36 -22 40 69 54 28 167 107
EPS in Rs -7.98 -7.43 -5.14 -8.21 0.39 -2.35 -1.35 2.46 4.25 3.32 1.72 10.28 6.58
Raw PDF

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 TTM
1,887 2,217 2,298 2,477 1,557 890 987 1,372 1,072 1,154 1,402 1,739 1,887
1,879 2,091 2,153 2,154 1,619 1,023 1,125 1,150 1,002 1,190 1,102 1,222 1,342
Operating Profit 7 126 145 323 -62 -133 -138 222 70 -36 300 517 545
OPM % 0.4% 6% 6% 13% -4.0% -15% -14% 16% 7% -3.1% 21% 30% 29%
465 62 248 57 126 138 884 38 -168 27 55 162 170
Interest 19 108 169 170 171 220 200 273 229 237 199 176 178
Depreciation 103 99 106 106 120 173 184 171 186 176 168 186 181
Profit before tax 350 -20 119 104 -227 -389 362 -184 -513 -422 -12 317 356
Tax % 5% -143% -15% 34% -64% -41% -64% -24% -9% 0% 0% 0%
332 8 137 69 -82 -231 593 -140 -466 -422 -12 317 356
EPS in Rs 23.19 0.58 9.54 4.77 -5.69 -16.05 41.18 -9.72 -32.34 -27.51 -0.74 19.51 21.90
Dividend Payout % 66% 0% 81% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -2%
5 Years: 12%
3 Years: 18%
TTM: 29%
Compounded Profit Growth
10 Years: 43%
5 Years: -17%
3 Years: 48%
TTM: 549%
Stock Price CAGR
10 Years: 10%
5 Years: 39%
3 Years: 102%
1 Year: 28%
Return on Equity
10 Years: 0%
5 Years: -5%
3 Years: -2%
Last Year: 10%

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 55 55 55 55 55 55 55 72 72 77 81 81
Reserves 1,016 1,113 1,164 1,239 1,171 939 1,551 2,140 1,681 1,719 2,682 3,003
1,138 1,984 2,120 1,773 1,885 2,370 2,078 2,024 2,013 2,136 1,796 1,964
1,939 1,431 1,230 1,318 1,426 1,395 1,211 1,562 966 936 849 887
Total Liabilities 4,149 4,584 4,569 4,386 4,538 4,760 4,895 5,798 4,732 4,868 5,408 5,935
1,005 1,402 1,465 1,423 1,614 2,044 1,684 1,828 1,625 1,449 1,276 1,352
CWIP 792 664 665 653 381 305 716 825 823 833 1,260 1,397
Investments 297 297 297 297 297 297 297 297 297 297 719 709
2,054 2,221 2,142 2,013 2,245 2,113 2,198 2,848 1,987 2,289 2,153 2,477
Total Assets 4,149 4,584 4,569 4,386 4,538 4,760 4,895 5,798 4,732 4,868 5,408 5,935

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
-53 -363 -235 119 58 222 -563 -93 71 188 -14 241
203 -1,015 369 451 120 -16 1,014 -244 -3 -75 -900 -193
425 764 -133 -524 -69 -274 -480 430 -236 346 486 -7
Net Cash Flow 575 -614 1 46 109 -69 -29 93 -168 459 -428 41
Free Cash Flow -349 -644 -396 75 34 199 -1,088 -346 63 100 -508 -26
CFO/OP 500% -285% -145% 40% -134% -167% 328% -6% 109% -522% -14% 47%

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 41 45 54 118 236 385 353 344 188 179 159 178
Inventory Days 240 216 206 141 195 367 305 297 330 254 357 469
Days Payable 158 134 133 167 325 611 355 446 507 459 398 442
Cash Conversion Cycle 123 126 127 92 105 141 303 194 11 -26 117 204
Working Capital Days -223 -18 -73 -55 -52 -351 -334 -231 -404 -223 -7 72
ROCE % 20% 3% 9% 9% -2% -8% -8% 2% -1% -4% 4% 10%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
R&D as % of sales
%

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Emerging Markets revenue contribution
%
India business revenue contribution
%
Total employees
count
NCE pipeline with QIDP status
count
R&D Expenditure (consolidated)
INR Crore
Number of manufacturing plants
count
UK business revenue contribution
%
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
55.14% 54.93% 51.60% 51.99% 51.99% 49.09% 49.09% 49.09% 49.09% 49.09% 49.09% 49.09%
3.03% 4.18% 5.49% 5.94% 6.70% 6.54% 6.82% 7.29% 7.10% 7.00% 7.09% 7.23%
0.21% 0.30% 4.82% 4.45% 5.08% 9.82% 10.58% 11.00% 11.00% 10.55% 10.96% 9.24%
0.00% 0.00% 0.01% 0.01% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.04% 0.02%
41.62% 40.59% 38.06% 37.62% 36.21% 34.54% 33.50% 32.60% 32.79% 33.36% 32.84% 34.44%
No. of Shareholders 1,72,9891,61,8131,46,1381,40,3911,38,1421,42,7101,41,7991,46,9181,37,9461,42,2741,39,0161,66,518

* 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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