IPCALABHealthcare

IPCA Laboratories Limited

Pharmaceuticals · ISIN INE571A01038 · BSE 524494 · NSE EQ · FV ₹1
Last price
₹1,970
+1.00%today
What this company does

IPCA Laboratories Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹2,788 cr of revenue in its latest quarter (Q1 FY27) and kept 14.4% of sales as profit.

73out of 100
Equitytale Health Score
Solid

Healthier than 73% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 81–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
60

At close. Not part of the score.

Profitability & returns74

How much profit it earns on the money it employs

Balance sheet73

How much it owes, and whether earnings cover the interest

Cash quality65

Whether reported profit actually arrives as cash

Growth & consistency85

Whether sales and profit have grown, and how steadily

Valuation51

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 21% vs last year
Profit up 72% vs last year
Promoters hold 45%
No promoter shares pledged
Strong 20% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in IPCALAB?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 11% a year, it would become
₹21.24 lakh

The slider starts at 11%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,970 +1.00%
latest close · 2026-09-17
52-wk low ₹831158 sessions so far52-wk high ₹2,014
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio31.1High
LowAverageHigh
P/B ratio6.20High
Below bookModerateHigh
EV / EBITDA18.1High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity19.9%Strong
WeakFairStrong ▸15%
Return on capital23.2%Strong
WeakFairStrong
Net margin14.4%Decent
ThinDecentStrong
EBITDA margin24.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.07Comfortable
LowModerateHigh ▸1
Interest cover49.2×Strong
RiskyOkayStrong ▸5×
Current ratio2.76Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹49,987 cr
Book value
₹318
EPS
₹15.84
latest quarter
Net debt
₹267 cr
owes more than its cash
Enterprise value
₹50,253 cr
EBITDA
₹2,779 cr
annualised
EBIT
₹2,336 cr
annualised
Operating margin
20.9%
Return on assets
13.0%
Earnings yield
3.22%
P/S
4.48
Sales / share
₹439.6
Tax rate
26.1%
Face value
₹1
Shares
25.4 cr
Working capital
₹4,067 cr
Current assets
₹6,374 cr
Current liabilities
₹2,307 cr
Delivery %
54.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹284₹383, midpoint ₹334

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹2,788 cr
Other Income₹25 cr
Total Income₹2,813 cr
Cost of Materials₹638 cr
Purchases of Stock-in-Trade₹141 cr
Inventory Change (±)₹19 cr
Employee Benefit Expense₹602 cr
Finance Costs₹12 cr
Depreciation & Amortisation₹111 cr
Other Expenses₹720 cr
Total Expenses₹2,241 cr
Profit before Tax₹572 cr
Tax Expense₹149 cr
Share of JV / Associates₹1 cr
Net Profit₹424 cr
Net margin on total income15.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹797 cr28.3%
Employee benefit expense₹602 cr21.4%
Finance costs₹12 cr0.4%
Depreciation & amortisation₹111 cr3.9%
Other expenses₹720 cr25.6%
Tax expense₹149 cr5.3%
Profit for the period₹424 cr15.1%
Total income ₹2,813 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue2,393 cr2,388 cr2,788 cr
Total income2,413 cr2,482 cr2,813 cr
Expenses1,984 cr2,032 cr2,241 cr
Profit before tax446 cr404 cr572 cr
Tax82 cr95 cr149 cr
Net profit (owners' share)326 cr299 cr402 cr
Net margin (owners' share, on revenue)13.6%12.5%14.4%
EPS (₹)12.8611.7915.84
YoY (latest quarter): total income +20.2% · net profit +72.3%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹12,370 cr
Shareholder equity
₹8,064 cr
parent shareholders
Total debt
₹704 cr
Cash
₹437 cr
Cash flow · H1 FY26
Operating
₹780 cr
Investing
₹-298 cr
Financing
₹-211 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,867₹4.48 L cr38.6
Divi's Laboratories Limited₹9,323₹2.47 L cr68.7
Torrent Pharmaceuticals Limited₹4,875₹1.65 L cr82.0
Zydus Lifesciences Limited₹1,135₹1.13 L cr30.4
Cipla Limited₹1,376₹1.11 L cr35.2
Laurus Labs Limited₹1,948₹1.05 L cr71.5
Dr. Reddy's Laboratories Limited₹1,175₹98,113 cr55.1
Aurobindo Pharma Limited₹1,690₹97,243 cr23.7
Lupin Limited₹2,098₹95,936 cr16.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.30%
trailing 12 months
Dividend / share (TTM)
₹6
Last dividend
₹6
ex 7 Aug 2026
ActionDetailEx-date
Dividend₹6 / share7 Aug 2026
Dividend₹2 / share5 Aug 2025
Dividend₹2 / share27 Nov 2024
Dividend₹2 / share6 Aug 2024
Dividend₹2 / share22 Nov 2023
Dividend₹4 / share22 Nov 2022
Who owns it · 2026-06-30
No pledge
Promoter
44.7%
FII / Foreign
10.7%
DII / Domestic
37.4%
Retail / others
7.2%
Promoter stake down 1.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldMANISH KUMAR JAIN · -3,000 · ₹44.5 L16 Feb 26
SoldPawan Kothari · Employees/Designated Employees2,220 · ₹31.4 L22 Aug 25
SoldPaschim Chemicals Private Limited · Promoter Group1.02 cr20 Aug 25
Bulk / block deals
short · NSE653 Sep 26
short · NSE327 Aug 26
short · NSE20026 Aug 26
Stake changes
BoughtKaygee Investments Pvt. Ltd. · promoter→ 25.49% · 1.02 cr20 Aug 25
SoldUsha M. Chandurkar along with PAC · promoter→ 1.70% · 40.00 L18 Dec 24
BoughtHDFC Mutual Fund→ 9.04% · 51.23 L4 Sep 24
Promoter pledges
ReleasedHDFC Bank9,150 · 0.00% held13 Sep 17
ReleasedHDFC Bank9,150 · 0.00% held13 Sep 17
ReleasedSVC COOPERATIVE BANK LTD1,000 · 0.01% held27 Apr 17
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 13 Aug 2026
See the official result
1
1 - a) Adoption of Audited Financial Statements for the financial year ended 31st March, 2026, Reports of the Board of Directors and Auditors thereon. b) Adoption of Audited Consolidated Financial Statements for the financial year ended on 31st March, 2026 and Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
11.68 cr votes for, 40,686 against · 0% of mutual funds and other big investors said no
2
To declare the payment of dividend on the equity shares for the financial year ended 31st March, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
11.68 cr votes for, 166 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Ajit Kumar Jain (DIN 00012657), who retires by rotation, and being eligible offers himself for re-appointment.
Backed by 99% of shareholders other than promotersneeded 50%
11.55 cr votes for, 13.49 L against · 1% of mutual funds and other big investors said no
4
To appoint a Director in place of Mr. Pranay Godha (DIN 00016525), who retires by rotation, and being eligible offers himself for re-appointment.
Backed by 99% of shareholders other than promotersneeded 50%
11.56 cr votes for, 12.66 L against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 15 named members
owning 44.7% between them · as of 2026-06-30
Kaygee Investments Private Limited25.49%
Kaygee Laboratories Private Limited6.61%
Chandurkar Investments Private Limited5.50%
Premchand Godha2.29%
Usha M Chandurkar1.70%
Usha Premchand Godha0.95%
Sameer M Chandurkar0.79%
Pranay Godha0.67%
Business done with them
FY2026 · 8 of the group
The company paid ₹71 cr to companies in the promoter group last year — about 0.7% of its ₹9,646 cr revenue and received ₹74 L back from them.
Makers Laboratories Ltd.
Bought goods from them · Refer below
₹16 cr
company paid
Mr. Premchand Godha
Other payments to them · Refer below
also owns 2.29% of the company
₹16 cr
company paid
Kaygee Investments Pvt. Ltd.
Other payments to them · Refer below
also owns 25.49% of the company
₹11 cr
company paid
Mr. Pranay Godha
Other payments to them · Refer below
also owns 0.67% of the company
₹10 cr
company paid
Mr. Prashant Godha
Other payments to them · Refer below
also owns 0.62% of the company
₹8 cr
company paid
Kaygee Laboratories Pvt. Ltd.
Bought goods from them · Refer below
also owns 6.61% of the company
₹4 cr
company paid
Kaygee Laboratories Pvt. Ltd.
Other payments to them · Refer below
also owns 6.61% of the company
₹3 cr
company paid
Paschim Chemicals Pvt Ltd.
Other payments to them · Refer below
₹2 cr
company paid
Makers Laboratories Ltd.
Sold goods to them · Refer below
₹72 L
company received
Ms. Usha Premchand Godha
Other payments to them · Refer below
also owns 0.95% of the company
₹48 L
company paid
Makers Laboratories Ltd.
Leases As Lessor · Refer below
₹40 L
company received
Kaygee Laboratories Pvt. Ltd.
Leases As Lessee · Refer below
also owns 6.61% of the company
₹2 L
company received
Makers Laboratories Ltd.
Sold property or assets to them · Refer below
₹2 L
company received

The company also transacted with 12 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.