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Swing Capital

Emcure Pharmaceuticals Ltd

NSE: EMCURE BSE: 544210Pharma

Incorporated in 1981, Emcure Pharmaceuticals Ltd manufactures and markets pharmaceutical products globally[1]

₹1,680
52W: ₹1047 — ₹1830
PE 42.4 · Book ₹196 · +757% vs book
Market Cap₹31,855 Cr
Stock P/E42.4Price to Earnings
ROCE23.7%Return on Capital
ROE22.3%Return on Equity
Div. Yield0.18%Face Value ₹10

Weaknesses

  • −Stock is trading at 8.63 times its book value

Shareholding Pattern

Promoters77.87%
FIIs3.35%
DIIs6.1%
Public12.69%
CategorySep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters78.08%77.94%▼0.177.92%▼0.077.92%77.88%▼0.077.87%▼0.077.87%
FIIs2.91%3.05%▲0.13.06%▲0.02.86%▼0.23.29%▲0.43.59%▲0.33.35%▼0.2
DIIs3.96%3.87%▼0.13.44%▼0.42.84%▼0.64.36%▲1.56.1%▲1.76.1%
Public15.05%15.15%▲0.115.58%▲0.416.39%▲0.814.46%▼1.912.43%▼2.012.69%▲0.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales8709039701,1051,0291,2781,0971,2611,4181,468
Expenses7467968559479041,0348691,0361,1181,096
Operating Profit124106115158124245228225300372
OPM %14%12%12%14%12%19%21%18%21%25%
Net Profit4829408750140123118259234
EPS ₹2.671.62.234.62.657.376.486.213.6512.33

AI Insights

Revenue Trend

Mar 2026 revenue at ₹5,243Cr, up 19.6% YoY. OPM at 21%.

Debt Position

Borrowings at ₹1,597Cr. Debt-to-equity ratio: 0.45x. Healthy balance sheet.

Capex Cycle

CWIP at ₹110Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 6.1% (+2.14pp change). FIIs: 3.35% (+0.44pp change). Promoters hold 77.87%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 24% (Mar 2026). Working capital days: 53.

Valuation

PE 42.4x with 23.7% ROCE. Price is 757% above book value of ₹196. Dividend yield: 0.18%.

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