Minerva Capital Research Solutions

IPCA Laboratories

NSE: IPCALABBSE: 524494
Compare with peers
₹ 1,927.00▼ 56 (−2.82%)28 Oct, 03:29 pm IST
Market cap
₹ 49,830 Cr.
P/E
36x
P/B
5.99x
52-week range
1,268 – 2,038
ROE
16%
ROCE
17%
Dividend yield
0.3%
Debt / equity
0.1
Sector
Pharmaceuticals & Biotechnology
Industry
Pharmaceuticals
Listed on
NSE, BSE

About

Ipca Laboratories Limited is an India-based integrated pharmaceutical company. The Company is engaged in manufacturing and marketing over 350 formulations and approximately 80 active pharmaceutical ingredients (APIs) covering various therapeutic segments. It offers APIs, such as Atenolol, Chloroquine Phosphate, Chlorthalidone, Furosemide, Hydroxychloroquine sulfate, Losartan, Metoprolol Succinate, Metoprolol Tartrate, Pyrantel Salts and Propranolol. The Company offers brands, such as Zerodol, Lariago, HCQS, Perinorm, Rapither AB, Tenoric, Lumerax, Etova, Fexova, Malirid, Allsuth, Alwiz, AZR 50mg, Bacilon, Cinkona, Clarbact, Glyree MV, Halotop, Luliz, Ozepam, Pacimol, Pari, Xtor-F, Zabpro, Zilast, Ramcor, Sove, Venpower and Folitrax. The Company’s products are sold in over 100 countries across the globe. The Company has 18 manufacturing units in India manufacturing APIs and formulations. Its subsidiaries include Ipca Pharmaceuticals, Inc. and Ipca Pharma Nigeria Ltd.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Pharmaceuticals: 221 companies →

IPCA Laboratories against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)36 against a typical 33.2: pricier than most peers (1st = cheapest).119th of 220
  • Sales growth+20.7% against a typical +15.6% from a year earlier.77th of 197
  • Profit growth+82% against a typical +18.9% from a year earlier.39th of 160
  • Share price, 3 months+11.7% against a typical −1.8%.56th of 200
  • Size₹ 49,830.2 Cr. market value against a typical ₹ 507.7 Cr. (1st = largest).14th of 199

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

High safety

Rated AA+ by India Ratings
AA+
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
India RatingsIND AA+; IND A1+Stable6 Jul 2026
Credit rating actions
RatingDetails
6 Jul 2026
Reaffirmed
IND AA+—India Ratings₹ 2,298.11 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
5 Nov 2026UpcomingFinancial ResultsTo consider and approve the financial results for the period ended September 30, 2026
13 Aug 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
29 May 2026Financial Results/DividendTo consider and approve the financial results for the period ended March 31, 2026 and dividend
13 Feb 2026Financial ResultsTo consider and approve the financial results for the period ended December 31, 2025
13 Nov 2025Financial ResultsTo consider and approve the financial results for the period ended September 30, 2025
11 Aug 2025Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2025
29 May 2025Financial Results/DividendTo consider and approve the financial results for the period ended March 31, 2025 and Final dividend

Share price

1Y change +48.46%
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,0342,0532,0332,0932,3552,2452,2472,3092,5562,3922,3882,788
Expenses1,6731,7221,7111,7001,9131,7821,8181,8922,0121,8591,9052,119
Operating Profit361331322393441463429416545533484670
OPM %18%16%16%19%19%21%19%18%21%22%20%24%
Other Income−191−118212620−17933−30384825
Interest443329242317221920182012
Depreciation90100989910098100100103108107111
Profit before tax22528977290345368128331392446404572
Tax %39%23%96%31%29%25%49%29%28%18%24%26%
Net Profit136221119924627664233281364307424
EPS in Rs5.727.092.357.589.059.782.679.1911.1412.8611.7915.84

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
13%
5 Years
12%
3 Years
16%
TTM
11%
Compounded Profit Growth
10 Years
30%
5 Years
1%
3 Years
37%
TTM
54%
Stock Price CAGR
10 Years
22%
5 Years
9%
3 Years
29%
TTM
—
Return on Equity
10 Years
14%
5 Years
13%
3 Years
13%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
44.72%
0 pts in a year
FIIs
10.72%
+0.05 pts in a year
DIIs
37.04%
+1.16 pts in a year
Government
0.32%
0 pts in a year
Public
7.19%
−1.22 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 36xEPS (12 months) ₹ 54.14Median P/E 28.3x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
IPCA Laboratories₹ 1,927.00₹ 49,830 Cr.36x6x16%—
Sun Pharmaceutical Industries₹ 1,743.00₹ 4,18,194 Cr.38.4x5.6x14.2%19.1%
Divi's Laboratories₹ 8,984.00₹ 2,38,497 Cr.73.3x11.5x16.2%24.3%
Torrent Pharmaceuticals₹ 4,482.00₹ 1,70,475 Cr.72.7x19.2x27.1%15.3%
Cipla₹ 1,337.00₹ 1,08,011 Cr.27.6x3.3x11.8%13.7%
Zydus Lifesciences₹ 1,127.85₹ 1,12,503 Cr.21.2x4.2x19.7%18.5%

Management

Premchand Godha
Executive Chairman of the Board
Pranay Premchand Godha
Chief Executive Officer, Managing Director, Executive Director
Ajit Kumar Jain
Chief Financial Officer, Managing Director, Executive Director
Pabitra Kumar Bhattacharya
President - Operations (API)
Sunil Ghai
President - Marketing
Sanjay U. Kapadia
President - Corporate Quality Assurance
Ashok Kumar
President - Research and Development (Chemicals)
Shailesh Laul
President - Operations (Formulations)

Prices are delayed and for information only. Nothing on this page is investment advice.