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Swing Capital

Novartis India Ltd

NSE: NOVARTIND BSE: 500672

Novartis India Ltd is primarily engaged in the Business of Wholesale of pharmaceuticals and medical goods. [1] It imports various medicines to India from different sources across the globe.[2]

₹1,179
52W: ₹750 — ₹1275
PE 31.3 · Book ₹331 · +256% vs book
Market Cap₹2,910 Cr
Stock P/E31.3Price to Earnings
ROCE16.2%Return on Capital
ROE11.6%Return on Equity
Div. Yield2.14%Face Value ₹5

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −The company has delivered a poor sales growth of -1.46% over past five years.
  • −Company has a low return on equity of 11.9% over last 3 years.
  • −Earnings include an other income of Rs.38.8 Cr.

Shareholding Pattern

Promoters70.68%
FIIs0.17%
DIIs0.53%
Public28.6%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters70.68%70.68%70.68%70.68%70.68%70.68%70.68%70.68%
FIIs0.19%0.19%0.19%0.19%0.19%0.19%0.19%0.17%▼0.0
DIIs0.52%0.52%0.53%▲0.00.53%0.53%0.53%0.63%▲0.10.53%▼0.1
Public28.6%28.61%▲0.028.6%▼0.028.61%▲0.028.6%▼0.028.61%▲0.028.5%▼0.128.6%▲0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales85819287938488908691
Expenses65706869676060666470
Operating Profit20112418262427242221
OPM %23%14%26%21%28%29%31%26%26%23%
Net Profit27152620252928241625
EPS ₹10.765.9510.428.2710.3111.8711.199.816.5210.23

AI Insights

Revenue Trend

Mar 2026 revenue at ₹354Cr, down 0.6% YoY. OPM at 27%.

Debt Position

Borrowings at ₹3Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 0.53% (-0.22pp change). FIIs: 0.17% (-0.06pp change). Promoters hold 70.68%.

Margin & Efficiency

ROCE improving from 9% (Mar 2015) to 16% (Mar 2026). Working capital days: -46.

Valuation

PE 31.3x with 16.2% ROCE. Price is 256% above book value of ₹331. Dividend yield: 2.14%.

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