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Ipca Laboratories Ltd

NSE: IPCALAB BSE: 524494

Ipca Laboratories is engaged in the manufacturing and marketing of pharmaceuticals.(Source : 201903 Annual Report Page No: 68)

₹1,634
52W: ₹1252 — ₹1657
PE 41.3 · Book ₹292 · +460% vs book
Market Cap₹41,449 Cr
Stock P/E41.3Price to Earnings
ROCE17.3%Return on Capital
ROE12.4%Return on Equity
Div. Yield0.25%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Company has been maintaining a healthy dividend payout of 18.3%

Weaknesses

  • −Stock is trading at 5.64 times its book value
  • −The company has delivered a poor sales growth of 8.87% over past five years.
  • −Company has a low return on equity of 10.4% over last 3 years.

Shareholding Pattern

Promoters44.72%
FIIs10.63%
DIIs37.13%
Public7.21%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters46.3%46.3%44.72%▼1.644.72%44.72%44.72%44.72%44.72%
FIIs10.85%10.83%▼0.011.06%▲0.210.75%▼0.310.67%▼0.110.42%▼0.310.62%▲0.210.63%▲0.0
DIIs33.46%33.9%▲0.435.36%▲1.535.73%▲0.435.88%▲0.236.45%▲0.636.99%▲0.537.13%▲0.1
Public9.07%8.64%▼0.48.53%▼0.18.45%▼0.18.41%▼0.08.09%▼0.37.33%▼0.87.21%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,6631,5071,5111,5661,8111,6631,6381,7471,9301,845
Expenses1,3141,2341,2181,2131,4091,2521,2801,3401,4661,368
Operating Profit348273292353402411359407465477
OPM %21%18%19%23%22%25%22%23%24%26%
Net Profit16213765204244268-65262305303
EPS ₹6.395.42.558.059.6210.55-2.5610.3312.0111.96

AI Insights

Revenue Trend

TTM revenue at ₹7,161Cr, up 7.9% YoY. OPM at 24%.

Debt Position

Borrowings at ₹780Cr. Debt-to-equity ratio: 0.11x. Healthy balance sheet.

Capex Cycle

CWIP at ₹546Cr (20% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 37.13% (+2.27pp change). FIIs: 10.63% (+0.58pp change). Promoters hold 44.72%.

Margin & Efficiency

ROCE declining from 27% (Mar 2014) to 17% (Mar 2025). Working capital days: 85.

Valuation

PE 41.3x with 17.3% ROCE. Price is 460% above book value of ₹292. Dividend yield: 0.25%.

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