Is the Pharma - API & CRAMS sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 18 of 24 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Pharma - API & CRAMS Stocks in India
Pharma - API & CRAMS: Divis Laboratories Ltd owns the largest revenue base; Neuland Laboratories Ltd has the fastest current growth.
Nifty Pharma - API & CRAMS Index — Constituents & Performance
The Pharma - API & CRAMS companies below are the listed Indian Pharma - API & CRAMS universe this page tracks — the same constituent set people search for as the Nifty Pharma - API & CRAMS index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Pharma - API & CRAMS moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 44% ahead of NIFTY 500. Earnings across its companies grew 14% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 16 weeks running.
LEADER · ahead 16w~Price and the fundamentals both up17 of 24 companies ahead of NIFTY 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more
RS ↑16w · 18/24 >200d (+0) · 17/24 lead (+0) · EPS 14/24↑
Pharma - API & CRAMS, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
Broad but lateHow much of the sector is participating, how recently, and whether the movers score well.
Together17 of 24 stocks moving
Fresh1 crossed in the last 4 weeks
Backed by scoresmovers score +3 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
4/5+1
Mid
6/90
Small
7/10−1
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 24 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Pharma - API & CRAMS outperforming NIFTY 500?
The 52-week comparison of Pharma - API & CRAMS against NIFTY 500 is not available from the current market series. 18 of 24 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Acutaas Chemicals Ltd is the strongest against the sector itself at +47.6%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
18/24Stocks leading NIFTY 500
8/24Stocks leading sector
Sector metric: 28.6 as of 2026-07-19 · BROADENING · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 18 of 24 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Divis Laboratories Ltd leads with revenue of ₹10,560 crore, based on 24 of 24 comparable companies through Mar 2026. Neuland Laboratories Ltd has the fastest current revenue growth at 37%, across 24 of 24 comparable companies.
Which Pharma - API & CRAMS company is largest by revenue?
Divis Laboratories Ltd leads with revenue of ₹10,560 crore, based on 24 of 24 comparable companies through Mar 2026.
Which Pharma - API & CRAMS company is growing fastest?
Neuland Laboratories Ltd has the fastest current revenue growth at 37%, across 24 of 24 comparable companies.
Which Pharma - API & CRAMS company has the strongest 4-Factor Sector Score?
Acutaas Chemicals Ltd ranks first at 75.9/100 with 83.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Pharma - API & CRAMS company reports the most CAPEX?
Piramal Pharma Ltd reports the largest latest CAPEX at ₹261 crore, with 4 of 24 companies comparable.
Which Pharma - API & CRAMS company has the least gross debt?
Concord Biotech Ltd has the lowest comparable gross debt at ₹2 crore. Piramal Pharma Ltd has the highest at ₹5,675 crore.
Which Pharma - API & CRAMS company has the lowest comparable PEG?
Supriya Lifescience Ltd has the lowest comparable Guarded PEG at 0.55, among 15 of 24 companies that pass the metric’s comparability rules.
How much history does this Pharma - API & CRAMS comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
24
complete canonical membership
Combined market value
₹6.1 L Cr
Divis Laboratories Ltd
Revenue growing
17/24
positive TTM year-on-year growth
Beating NIFTY 500
18/24
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Acutaas Chemicals Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 83.2% evidence confidence.
Blue Jet Healthcare Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Acutaas Chemicals Ltd · 543349
75.9/100 · Favorable setup · 83% evidence
Exact sum: 32 + 20.3 + 7.3 + 16.3 = 75.9
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
32.0/35Growth & earnings
Revenue 33% · PAT 100% · OPM change 9 pp
95% evidence
20.3/25Capital efficiency
ROCE 31.6% · debt/equity 0.02×
80% evidence
7.3/20Valuation
P/E 69.1× · PEG —
50% evidence
16.3/20Relative strength
RS sector 47.6% · RS bench 71.1% · 1Y 200.8%
100% evidence
2. Neuland Laboratories Ltd · NEULANDLAB
75.0/100 · Favorable setup · 96% evidence
Exact sum: 30.3 + 19.5 + 12 + 13.2 = 75
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
30.3/35Growth & earnings
Revenue 37% · PAT 39.9% · OPM change 24 pp
88% evidence
19.5/25Capital efficiency
ROCE 26.5% · debt/equity 0.16×
100% evidence
12.0/20Valuation
P/E 65.9× · PEG 1.05
100% evidence
13.2/20Relative strength
RS sector 3.2% · RS bench 19.8% · 1Y 29.2%
100% evidence
3. Gland Pharma Ltd · GLAND
74.6/100 · Favorable setup · 96% evidence
Exact sum: 26.2 + 18.4 + 13.2 + 16.8 = 74.6
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
26.2/35Growth & earnings
Revenue 14.5% · PAT 46.7% · OPM change 5 pp
88% evidence
18.4/25Capital efficiency
ROCE 15.1% · debt/equity 0.03×
100% evidence
13.2/20Valuation
P/E 37.6× · PEG 1.45
100% evidence
16.8/20Relative strength
RS sector 9.2% · RS bench 26.7% · 1Y 22.4%
100% evidence
4. IOL Chemicals & Pharmaceuticals Ltd · IOLCP
71.1/100 · Favorable setup · 96% evidence
Exact sum: 24.5 + 14.2 + 13.2 + 19.2 = 71.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24.5/35Growth & earnings
Revenue 11.5% · PAT 36.6% · OPM change 3 pp
88% evidence
14.2/25Capital efficiency
ROCE 11.2% · debt/equity 0.07×
100% evidence
13.2/20Valuation
P/E 30× · PEG 0.66
100% evidence
19.2/20Relative strength
RS sector 31.6% · RS bench 51.3% · 1Y 61.6%
100% evidence
5. Laurus Labs Ltd · LAURUSLABS
65.7/100 · Favorable setup · 93% evidence
Exact sum: 32.5 + 14.4 + 4.4 + 14.4 = 65.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32.5/35Growth & earnings
Revenue 22.6% · PAT 100% · OPM change 8 pp
100% evidence
14.4/25Capital efficiency
ROCE 17.8% · debt/equity 0.47×
100% evidence
4.4/20Valuation
P/E 79.1× · PEG 3.33
65% evidence
14.4/20Relative strength
RS sector 21.5% · RS bench 41.1% · 1Y 85%
100% evidence
6. Shilpa Medicare Ltd · SHILPAMED
65.5/100 · Favorable setup · 93% evidence
Exact sum: 27.5 + 13.1 + 5.6 + 19.3 = 65.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27.5/35Growth & earnings
Revenue 19.5% · PAT 100% · OPM change 3 pp
83% evidence
13.1/25Capital efficiency
ROCE 11% · debt/equity 0.26×
95% evidence
5.6/20Valuation
P/E 50.8× · PEG 6.86
100% evidence
19.3/20Relative strength
RS sector 32.2% · RS bench 52.3% · 1Y 35.5%
100% evidence
7. Granules India Ltd · GRANULES
64.8/100 · Mixed-positive evidence · 100% evidence
Exact sum: 27.7 + 13.2 + 9.8 + 14.1 = 64.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27.7/35Growth & earnings
Revenue 24.8% · PAT 38.1% · OPM change 3 pp
100% evidence
13.2/25Capital efficiency
ROCE 15.5% · debt/equity 0.3×
100% evidence
9.8/20Valuation
P/E 31.8× · PEG 1.27
100% evidence
14.1/20Relative strength
RS sector 22.2% · RS bench 42.1% · 1Y 77.5%
100% evidence
8. Sai Life Sciences Ltd · SAILIFE
61.8/100 · Mixed-positive evidence · 89% evidence
Exact sum: 27.8 + 17 + 4.3 + 12.7 = 61.8
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
27.8/35Growth & earnings
Revenue 29.2% · PAT 100% · OPM change 2 pp
88% evidence
17.0/25Capital efficiency
ROCE 19.6% · debt/equity 0.12×
100% evidence
4.3/20Valuation
P/E 73.8× · PEG 3.46
65% evidence
12.7/20Relative strength
RS sector 11.7% · RS bench 29.9% · 1Y 56%
100% evidence
9. Supriya Lifescience Ltd · SUPRIYA
61.3/100 · Mixed-positive evidence · 93% evidence
Exact sum: 16.8 + 19.5 + 13.7 + 11.3 = 61.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16.8/35Growth & earnings
Revenue 18.8% · PAT 11.2% · OPM change -2 pp
83% evidence
19.5/25Capital efficiency
ROCE 25.1% · debt/equity 0×
95% evidence
13.7/20Valuation
P/E 32.3× · PEG 0.55
100% evidence
11.3/20Relative strength
RS sector -3.3% · RS bench 12.4% · 1Y 16.5%
100% evidence
10. Divis Laboratories Ltd · DIVISLAB
53.0/100 · Mixed-positive evidence · 96% evidence
Exact sum: 18.7 + 20.5 + 5.3 + 8.5 = 53
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
18.7/35Growth & earnings
Revenue 12.8% · PAT 17.2% · OPM change -1 pp
88% evidence
20.5/25Capital efficiency
ROCE 22% · debt/equity 0×
100% evidence
5.3/20Valuation
P/E 73.4× · PEG 2.79
100% evidence
8.5/20Relative strength
RS sector -3.8% · RS bench 12.3% · 1Y 7.7%
100% evidence
11. Windlas Biotech Ltd · WINDLAS
52.8/100 · Mixed-positive evidence · 77% evidence
Exact sum: 17.5 + 14.8 + 11.7 + 8.8 = 52.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.5/35Growth & earnings
Revenue 18.8% · PAT 9.8% · OPM change -2 pp
83% evidence
14.8/25Capital efficiency
ROCE 15.9% · debt/equity 0.06×
95% evidence
11.7/20Valuation
P/E 26.6× · PEG —
50% evidence
8.8/20Relative strength
RS sector -1.6% · RS bench -1.8% · 1Y -8.6%
70% evidence
12. Anthem Biosciences Ltd · ANTHEM
52.1/100 · Mixed-positive evidence · 77% evidence
Exact sum: 13.7 + 20.3 + 9.4 + 8.7 = 52.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13.7/35Growth & earnings
Revenue -2.1% · PAT 14.1% · OPM change 1 pp
100% evidence
20.3/25Capital efficiency
ROCE 30.4% · debt/equity 0.02×
100% evidence
9.4/20Valuation
P/E 73.1× · PEG —
15% evidence
8.7/20Relative strength
RS sector -8.8% · RS bench 6% · 1Y 2.6%
70% evidence
13. SMS Pharmaceuticals Ltd · SMSPHARMA
51.9/100 · Mixed-positive evidence · 96% evidence
Exact sum: 22.2 + 11.2 + 9.8 + 8.7 = 51.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.2/35Growth & earnings
Revenue 13.3% · PAT 48.5% · OPM change 1 pp
88% evidence
11.2/25Capital efficiency
ROCE 13.3% · debt/equity 0.47×
100% evidence
9.8/20Valuation
P/E 35× · PEG 1.53
100% evidence
8.7/20Relative strength
RS sector -1.2% · RS bench 15.7% · 1Y 54.1%
100% evidence
14. Blue Jet Healthcare Ltd · BLUEJET
47.7/100 · Mixed-negative evidence · 90% evidence
Exact sum: 6.7 + 20.2 + 14.2 + 6.6 = 47.7
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
6.7/35Growth & earnings
Revenue -8% · PAT -19% · OPM change -11 pp
88% evidence
20.2/25Capital efficiency
ROCE 26.5% · debt/equity 0.03×
100% evidence
14.2/20Valuation
P/E 43.3× · PEG 1.39
100% evidence
6.6/20Relative strength
RS sector -39.1% · RS bench 6.9% · 1Y -42.1%
70% evidence
15. Concord Biotech Ltd · CONCORDBIO
41.3/100 · Mixed-negative evidence · 90% evidence
Exact sum: 6.5 + 20 + 9.3 + 5.5 = 41.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6.5/35Growth & earnings
Revenue -12.1% · PAT -30.4% · OPM change -8 pp
88% evidence
20.0/25Capital efficiency
ROCE 17.1% · debt/equity 0×
100% evidence
9.3/20Valuation
P/E 54.8× · PEG 2.06
100% evidence
5.5/20Relative strength
RS sector -23.4% · RS bench -1.7% · 1Y -29.1%
70% evidence
16. Syngene International Ltd · 539268
39.1/100 · Mixed-negative evidence · 73% evidence
Exact sum: 9.5 + 13.4 + 12.2 + 4 = 39.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9.5/35Growth & earnings
Revenue 2.6% · PAT -36.1% · OPM change -5 pp
83% evidence
13.4/25Capital efficiency
ROCE 10% · debt/equity 0.1×
80% evidence
12.2/20Valuation
P/E 44.9× · PEG —
50% evidence
4.0/20Relative strength
RS sector -28.3% · RS bench -34.9% · 1Y -39.2%
70% evidence
17. Jubilant Pharmova Ltd · JUBLPHARMA
38.6/100 · Mixed-negative evidence · 89% evidence
Exact sum: 12.2 + 8.2 + 13.4 + 4.8 = 38.6
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
12.2/35Growth & earnings
Revenue 14.4% · PAT -52.5% · OPM change -3 pp
88% evidence
8.2/25Capital efficiency
ROCE 9% · debt/equity 0.51×
100% evidence
13.4/20Valuation
P/E 35.2× · PEG 1.17
65% evidence
4.8/20Relative strength
RS sector -14.1% · RS bench 0.2% · 1Y -17.2%
100% evidence
18. Dishman Carbogen Amcis Ltd · DCAL
38.6/100 · Mixed-negative evidence · 83% evidence
Exact sum: 18.1 + 8.2 + 8.2 + 4.1 = 38.6
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18.1/35Growth & earnings
Revenue 8.2% · PAT 100% · OPM change -2 pp
88% evidence
8.2/25Capital efficiency
ROCE 3.1% · debt/equity 0.46×
100% evidence
8.2/20Valuation
P/E 29× · PEG 2.65
65% evidence
4.1/20Relative strength
RS sector -30.8% · RS bench -13.9% · 1Y -26.5%
70% evidence
19. Morepen Laboratories Ltd · MOREPENLAB
36.3/100 · Mixed-negative evidence · 90% evidence
Exact sum: 8.8 + 9.3 + 9.5 + 8.7 = 36.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8.8/35Growth & earnings
Revenue -0.3% · PAT -18.6% · OPM change -4 pp
88% evidence
9.3/25Capital efficiency
ROCE 8.1% · debt/equity 0.17×
100% evidence
9.5/20Valuation
P/E 39.6× · PEG 1.68
100% evidence
8.7/20Relative strength
RS sector -16% · RS bench 28.7% · 1Y -5.8%
70% evidence
20. OneSource Specialty Pharma Ltd · ONESOURCE
30.7/100 · Adverse evidence · 71% evidence
Exact sum: 12.4 + 5.3 + 10 + 3 = 30.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12.4/35Growth & earnings
Revenue 4.3% · PAT -80% · OPM change 0 pp
74% evidence
5.3/25Capital efficiency
ROCE 0.6% · debt/equity 0.26×
100% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
3.0/20Relative strength
RS sector -15.8% · RS bench -2.2% · 1Y -17.1%
100% evidence
21. Solara Active Pharma Sciences Ltd · SOLARA
30.4/100 · Adverse evidence · 77% evidence
Exact sum: 9.6 + 4.2 + 8.5 + 8.1 = 30.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9.6/35Growth & earnings
Revenue 15.6% · PAT -80% · OPM change -2 pp
100% evidence
4.2/25Capital efficiency
ROCE 4.9% · debt/equity 0.55×
100% evidence
8.5/20Valuation
P/E 551× · PEG —
15% evidence
8.1/20Relative strength
RS sector -8.6% · RS bench 1.8% · 1Y -15.9%
70% evidence
22. Cohance Lifesciences Ltd · COHANCE
28.0/100 · Adverse evidence · 73% evidence
Exact sum: 6.3 + 11.5 + 7.1 + 3.1 = 28
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6.3/35Growth & earnings
Revenue -13% · PAT -69% · OPM change -11.3 pp
83% evidence
11.5/25Capital efficiency
ROCE 8.3% · debt/equity 0.1×
80% evidence
7.1/20Valuation
P/E 80.9× · PEG —
50% evidence
3.1/20Relative strength
RS sector -54.5% · RS bench -23% · 1Y -59.2%
70% evidence
23. Piramal Pharma Ltd · PPLPHARMA
26.2/100 · Adverse evidence · 70% evidence
Exact sum: 5.3 + 3.5 + 10 + 7.4 = 26.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5.3/35Growth & earnings
Revenue -3.1% · PAT -80% · OPM change -3.6 pp
88% evidence
3.5/25Capital efficiency
ROCE 2.5% · debt/equity 0.69×
100% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
7.4/20Relative strength
RS sector -12.7% · RS bench 1.5% · 1Y -15%
70% evidence
24. Hikal Ltd · HIKAL
24.8/100 · Adverse evidence · 80% evidence
Exact sum: 5.7 + 7.2 + 5.9 + 6 = 24.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5.7/35Growth & earnings
Revenue -8% · PAT -80% · OPM change -2 pp
88% evidence
7.2/25Capital efficiency
ROCE 3.5% · debt/equity 0.57×
100% evidence
5.9/20Valuation
P/E 73.8× · PEG —
50% evidence
6.0/20Relative strength
RS sector -35.8% · RS bench 2% · 1Y -33.3%
70% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
Divis Laboratories Ltd has the highest Revenue among the 24 Pharma - API & CRAMS companies compared here, at ₹10,560 crore. Piramal Pharma Ltd is next at ₹8,869 crore. Neuland Laboratories Ltd has the highest Revenue growth at 37%, so level and change sit with different companies. 24 of 24 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Divis Laboratories Ltd is the scale leader at ₹10,560 crore, 19.1% ahead of Piramal Pharma Ltd. Neuland Laboratories Ltd's growth is 37% from a ₹2,023 crore base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderDivis Laboratories Ltd · ₹10,560 crore
Gap19.1% versus #2 · Piramal Pharma Ltd
Persistence8/8 recent comparable periods
Coverage24/24 companies · 415 observations
Investor read: Divis Laboratories Ltd is the scale benchmark; Neuland Laboratories Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Divis Laboratories Ltd's growth falls below Neuland Laboratories Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Divis Laboratories Ltd DIVISLAB₹10.6K Cr
2Piramal Pharma Ltd PPLPHARMA₹8.9K Cr
3Jubilant Pharmova Ltd JUBLPHARMA₹8.3K Cr
4Laurus Labs Ltd LAURUSLABS₹7.3K Cr
5Gland Pharma Ltd GLAND₹6.4K Cr
Revenue growthfastest growers
1Neuland Laboratories Ltd NEULANDLAB37%
2Acutaas Chemicals Ltd 54334933%
3Sai Life Sciences Ltd SAILIFE29%
4Granules India Ltd GRANULES25%
5Laurus Labs Ltd LAURUSLABS23%
Revenue · company comparison
24/24 level · 24/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Divis Laboratories Ltd DIVISLAB | ₹2.8K Cr | 9.5% | Mar 2026 |
| Piramal Pharma Ltd PPLPHARMA | ₹2.8K Cr | -0.1% | Mar 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | ₹2.3K Cr | 19% | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | ₹2.0K Cr | 29% | Jun 2026 |
| Gland Pharma Ltd GLAND | ₹1.7K Cr | 22% | Mar 2026 |
| Granules India Ltd GRANULES | ₹1.5K Cr | 22% | Jun 2026 |
| Syngene International Ltd 539268 | ₹1.0K Cr | 1.8% | Mar 2026 |
| Dishman Carbogen Amcis Ltd DCAL | ₹851 Cr | 19% | Mar 2026 |
| Neuland Laboratories Ltd NEULANDLAB | ₹776 Cr | 137% | Mar 2026 |
| Cohance Lifesciences Ltd COHANCE | ₹619 Cr | -26% | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | ₹619 Cr | 17% | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | ₹602 Cr | 3.8% | Mar 2026 |
| Hikal Ltd HIKAL | ₹519 Cr | -6.0% | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | ₹485 Cr | 4.1% | Mar 2026 |
| OneSource Specialty Pharma Ltd ONESOURCE | ₹449 Cr | 37% | Jun 2026 |
| Shilpa Medicare Ltd SHILPAMED | ₹437 Cr | 32% | Mar 2026 |
| Anthem Biosciences Ltd ANTHEM | ₹418 Cr | -23% | Jun 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | ₹382 Cr | 20% | Jun 2026 |
| Acutaas Chemicals Ltd 543349 | ₹330 Cr | 59% | Jun 2026 |
| Concord Biotech Ltd CONCORDBIO | ₹326 Cr | -24% | Mar 2026 |
| Supriya Lifescience Ltd SUPRIYA | ₹277 Cr | 51% | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | ₹238 Cr | -4.0% | Mar 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | ₹238 Cr | 17% | Mar 2026 |
| Blue Jet Healthcare Ltd BLUEJET | ₹235 Cr | -31% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
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—
—
₹152 Cr
₹186 Cr
₹154 Cr
₹172 Cr
₹166 Cr
₹225 Cr
₹177 Cr
₹247 Cr
₹275 Cr
₹308 Cr
₹207 Cr
₹306 Cr
₹393 Cr
₹433 Cr
₹330 Cr
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
₹294 Cr
₹294 Cr
₹416 Cr
₹416 Cr
₹339 Cr
₹525 Cr
₹498 Cr
₹483 Cr
₹540 Cr
₹550 Cr
₹423 Cr
₹611 Cr
₹418 Cr
Cohance Lifesciences Ltd · COHANCE
—
—
—
—
—
₹354 Cr
₹369 Cr
₹348 Cr
₹231 Cr
₹220 Cr
₹253 Cr
₹488 Cr
₹604 Cr
₹676 Cr
₹840 Cr
₹549 Cr
₹556 Cr
₹545 Cr
₹619 Cr
—
Divis Laboratories Ltd · DIVISLAB
₹2.0K Cr
₹2.5K Cr
₹2.5K Cr
₹2.3K Cr
₹1.9K Cr
₹1.7K Cr
₹2.0K Cr
₹1.8K Cr
₹1.9K Cr
₹1.9K Cr
₹2.3K Cr
₹2.1K Cr
₹2.3K Cr
₹2.3K Cr
₹2.6K Cr
₹2.4K Cr
₹2.7K Cr
₹2.6K Cr
₹2.8K Cr
—
Gland Pharma Ltd · GLAND
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹857 Cr
₹1.0K Cr
₹938 Cr
₹785 Cr
₹1.2K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.7K Cr
₹1.7K Cr
—
Granules India Ltd · GRANULES
₹888 Cr
₹997 Cr
₹1.0K Cr
₹1.0K Cr
₹1.2K Cr
₹1.1K Cr
₹1.2K Cr
₹986 Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹967 Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
Laurus Labs Ltd · LAURUSLABS
₹1.2K Cr
₹1.0K Cr
₹1.4K Cr
₹1.5K Cr
₹1.6K Cr
₹1.5K Cr
₹1.4K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr
₹1.7K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
₹1.8K Cr
₹2.0K Cr
Neuland Laboratories Ltd · NEULANDLAB
₹258 Cr
₹236 Cr
₹256 Cr
₹221 Cr
₹294 Cr
₹269 Cr
₹407 Cr
₹363 Cr
₹418 Cr
₹393 Cr
₹385 Cr
₹440 Cr
₹311 Cr
₹398 Cr
₹328 Cr
₹293 Cr
₹514 Cr
₹440 Cr
₹776 Cr
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
₹9 Cr
₹34 Cr
₹56 Cr
₹73 Cr
₹292 Cr
₹334 Cr
₹393 Cr
₹426 Cr
₹327 Cr
₹376 Cr
₹290 Cr
₹428 Cr
₹449 Cr
Piramal Pharma Ltd · PPLPHARMA
₹1.6K Cr
₹1.5K Cr
₹2.3K Cr
₹1.5K Cr
₹1.8K Cr
₹1.7K Cr
₹2.2K Cr
₹1.7K Cr
₹1.9K Cr
₹2.0K Cr
₹2.6K Cr
₹2.0K Cr
₹2.2K Cr
₹2.2K Cr
₹2.8K Cr
₹1.9K Cr
₹2.0K Cr
₹2.1K Cr
₹2.8K Cr
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
₹321 Cr
₹321 Cr
₹384 Cr
₹439 Cr
₹280 Cr
₹396 Cr
₹440 Cr
₹580 Cr
₹496 Cr
₹537 Cr
₹556 Cr
₹602 Cr
—
Syngene International Ltd · 539268
—
—
—
—
—
₹787 Cr
₹994 Cr
₹808 Cr
₹910 Cr
₹854 Cr
₹917 Cr
₹790 Cr
₹891 Cr
₹944 Cr
₹1.0K Cr
₹874 Cr
₹911 Cr
₹917 Cr
₹1.0K Cr
—
Revenue growth · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
—
—
—
—
—
—
—
—
9.2%
21%
15%
44%
66%
37%
17%
24%
43%
41%
59%
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
15%
79%
20%
16%
59%
4.8%
-15%
27%
-23%
Cohance Lifesciences Ltd · COHANCE
—
—
—
—
—
—
—
—
—
-38%
-32%
40%
161%
208%
232%
13%
-8.0%
-19%
-26%
—
Divis Laboratories Ltd · DIVISLAB
—
—
—
15%
-6.7%
-31%
-23%
-21%
2.9%
8.6%
18%
19%
22%
25%
12%
14%
16%
12%
9.5%
—
Gland Pharma Ltd · GLAND
—
—
—
-26%
-3.3%
-12%
-29%
41%
32%
65%
96%
16%
2.4%
-10%
-7.3%
7.4%
5.8%
22%
22%
—
Granules India Ltd · GRANULES
—
—
—
—
30%
15%
16%
-3.3%
3.3%
0.9%
-1.7%
20%
-19%
-1.6%
1.8%
2.5%
34%
22%
23%
22%
Laurus Labs Ltd · LAURUSLABS
—
—
—
20%
31%
50%
-3.1%
-23%
-22%
-23%
4.3%
1.1%
0.0%
18%
19%
31%
35%
26%
5.4%
29%
Neuland Laboratories Ltd · NEULANDLAB
—
—
—
10.0%
14%
14%
59%
64%
42%
46%
-5.4%
21%
-26%
1.3%
-15%
-33%
65%
11%
137%
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
3,144%
882%
602%
484%
12%
13%
-26%
0.5%
37%
Piramal Pharma Ltd · PPLPHARMA
—
—
—
1.3%
11%
14%
-6.2%
18%
8.2%
14%
18%
12%
17%
13%
7.9%
-0.9%
-8.8%
-2.9%
-0.1%
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
-13%
23%
15%
32%
77%
36%
26%
3.8%
—
Syngene International Ltd · 539268
—
—
—
—
—
—
—
—
—
8.5%
-7.8%
-2.2%
-2.1%
11%
11%
11%
2.2%
-2.9%
1.8%
—
02 · compare level, then change
Operating Economics & Margin Trend
Neuland Laboratories Ltd has the highest OPM among the 24 Pharma - API & CRAMS companies compared here, at 40%. Anthem Biosciences Ltd is next at 36%. The same company also holds the highest Margin change, at +24 percentage points. 24 of 24 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Neuland Laboratories Ltd leads both opm at 40% and margin change at +24 percentage points.
LeaderNeuland Laboratories Ltd · 40%
Gap11.1% versus #2 · Anthem Biosciences Ltd
Persistence3/8 recent comparable periods
Coverage24/24 companies · 435 observations
Investor read: Neuland Laboratories Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Neuland Laboratories Ltd NEULANDLAB40%
2Anthem Biosciences Ltd ANTHEM36%
3Concord Biotech Ltd CONCORDBIO36%
4Supriya Lifescience Ltd SUPRIYA35%
5Acutaas Chemicals Ltd 54334934%
Margin changefastest expanders
1Neuland Laboratories Ltd NEULANDLAB+24.0 pp
2Acutaas Chemicals Ltd 543349+9.0 pp
3Laurus Labs Ltd LAURUSLABS+8.0 pp
4Gland Pharma Ltd GLAND+5.0 pp
5Granules India Ltd GRANULES+3.0 pp
Operating margin · company comparison
24/24 level · 24/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Neuland Laboratories Ltd NEULANDLAB | 40% | +24.0 pp | Mar 2026 |
| Anthem Biosciences Ltd ANTHEM | 36% | +1.0 pp | Jun 2026 |
| Concord Biotech Ltd CONCORDBIO | 36% | −8.0 pp | Mar 2026 |
| Supriya Lifescience Ltd SUPRIYA | 35% | −2.0 pp | Mar 2026 |
| Acutaas Chemicals Ltd 543349 | 34% | +9.0 pp | Jun 2026 |
| Divis Laboratories Ltd DIVISLAB | 33% | −1.0 pp | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | 32% | +8.0 pp | Jun 2026 |
| Blue Jet Healthcare Ltd BLUEJET | 30% | −11.0 pp | Mar 2026 |
| Syngene International Ltd 539268 | 29% | −5.0 pp | Mar 2026 |
| Gland Pharma Ltd GLAND | 29% | +5.0 pp | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | 29% | +2.0 pp | Mar 2026 |
| OneSource Specialty Pharma Ltd ONESOURCE | 27% | 0.0 pp | Jun 2026 |
| Shilpa Medicare Ltd SHILPAMED | 27% | +3.0 pp | Mar 2026 |
| Granules India Ltd GRANULES | 23% | +3.0 pp | Jun 2026 |
| Hikal Ltd HIKAL | 20% | −2.0 pp | Mar 2026 |
| Dishman Carbogen Amcis Ltd DCAL | 19% | −2.0 pp | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | 17% | +1.0 pp | Mar 2026 |
| Piramal Pharma Ltd PPLPHARMA | 17% | −3.6 pp | Mar 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | 16% | −2.0 pp | Jun 2026 |
| Cohance Lifesciences Ltd COHANCE | 16% | −11.3 pp | Mar 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | 15% | −3.0 pp | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | 15% | +3.0 pp | Mar 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | 11% | −2.0 pp | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | 5.0% | −4.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
22%
21%
18%
17%
19%
20%
22%
22%
14%
16%
19%
17%
20%
25%
28%
25%
31%
38%
42%
34%
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
30%
30%
30%
30%
36%
37%
32%
40%
35%
40%
37%
44%
36%
Cohance Lifesciences Ltd · COHANCE
40%
48%
43%
45%
36%
41%
47%
48%
42%
30%
29%
26%
34%
35%
27%
20%
22%
18%
16%
—
Divis Laboratories Ltd · DIVISLAB
41%
44%
44%
38%
33%
24%
25%
28%
25%
26%
32%
29%
31%
32%
34%
30%
33%
34%
33%
—
Gland Pharma Ltd · GLAND
35%
33%
32%
32%
28%
31%
21%
24%
24%
23%
23%
19%
21%
26%
24%
24%
21%
26%
29%
—
Granules India Ltd · GRANULES
17%
17%
19%
21%
21%
20%
19%
14%
18%
22%
22%
22%
21%
20%
21%
20%
21%
22%
24%
23%
Laurus Labs Ltd · LAURUSLABS
29%
28%
28%
30%
28%
26%
21%
14%
15%
15%
17%
14%
15%
20%
24%
24%
24%
27%
28%
32%
Neuland Laboratories Ltd · NEULANDLAB
17%
14%
15%
13%
24%
20%
29%
27%
33%
31%
28%
28%
20%
22%
16%
12%
30%
18%
40%
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
-632%
-114%
-19%
-4.0%
22%
23%
36%
43%
27%
28%
6.0%
21%
27%
Piramal Pharma Ltd · PPLPHARMA
12%
15%
19%
1.2%
10%
5.0%
16%
7.6%
14%
14%
21%
10%
15%
15%
20%
5.5%
7.8%
9.2%
17%
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
2.1%
10%
25%
28%
9.0%
26%
27%
27%
24%
27%
34%
29%
—
Syngene International Ltd · 539268
29%
32%
33%
27%
28%
29%
32%
26%
28%
27%
35%
22%
27%
30%
34%
24%
22%
23%
29%
—
Margin change · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
−1.6 pp
−2.4 pp
−7.1 pp
−2.0 pp
−3.2 pp
−1.2 pp
+4.0 pp
+4.5 pp
−5.1 pp
−4.0 pp
−3.0 pp
−5.0 pp
+6.0 pp
+9.0 pp
+9.0 pp
+8.0 pp
+11.0 pp
+13.0 pp
+14.0 pp
+9.0 pp
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
+5.6 pp
+6.6 pp
+2.5 pp
+10.5 pp
−1.0 pp
+3.0 pp
+5.0 pp
+4.0 pp
+1.0 pp
Cohance Lifesciences Ltd · COHANCE
−0.8 pp
−2.5 pp
+7.0 pp
+1.1 pp
−4.6 pp
−6.5 pp
+3.4 pp
+3.5 pp
+6.5 pp
−10.9 pp
−17.5 pp
−22.4 pp
−8.4 pp
+5.0 pp
−1.7 pp
−5.2 pp
−12.2 pp
−17.6 pp
−11.3 pp
—
Divis Laboratories Ltd · DIVISLAB
−1.2 pp
+3.4 pp
+3.8 pp
−5.8 pp
−7.7 pp
−20.0 pp
−18.9 pp
−9.7 pp
−8.5 pp
+2.0 pp
+7.0 pp
+1.0 pp
+6.0 pp
+6.0 pp
+2.0 pp
+1.0 pp
+2.0 pp
+2.0 pp
−1.0 pp
—
Gland Pharma Ltd · GLAND
−0.9 pp
+2.1 pp
−5.3 pp
−6.3 pp
−6.4 pp
−1.8 pp
−10.6 pp
−7.5 pp
−4.4 pp
−8.0 pp
+2.0 pp
−5.0 pp
−3.0 pp
+3.0 pp
+1.0 pp
+5.0 pp
0.0 pp
0.0 pp
+5.0 pp
—
Granules India Ltd · GRANULES
−12.9 pp
−7.6 pp
−6.6 pp
−3.0 pp
+4.1 pp
+2.6 pp
+0.3 pp
−6.7 pp
−3.1 pp
+2.0 pp
+3.0 pp
+8.0 pp
+3.0 pp
−2.0 pp
−1.0 pp
−2.0 pp
0.0 pp
+2.0 pp
+3.0 pp
+3.0 pp
Laurus Labs Ltd · LAURUSLABS
−4.2 pp
−5.4 pp
−5.6 pp
−1.4 pp
−0.2 pp
−1.7 pp
−6.8 pp
−15.5 pp
−13.5 pp
−11.0 pp
−4.0 pp
0.0 pp
0.0 pp
+5.0 pp
+7.0 pp
+10.0 pp
+9.0 pp
+7.0 pp
+4.0 pp
+8.0 pp
Neuland Laboratories Ltd · NEULANDLAB
−0.3 pp
−5.3 pp
+4.8 pp
+0.2 pp
+7.0 pp
+6.3 pp
+13.8 pp
+14.1 pp
+9.4 pp
+11.0 pp
−1.0 pp
+1.0 pp
−13.0 pp
−9.0 pp
−12.0 pp
−16.0 pp
+10.0 pp
−4.0 pp
+24.0 pp
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
+653.5 pp
+137.0 pp
+55.0 pp
+47.0 pp
+5.0 pp
+5.0 pp
−30.0 pp
−22.0 pp
0.0 pp
Piramal Pharma Ltd · PPLPHARMA
—
—
—
−2.0 pp
−2.4 pp
−9.7 pp
−2.4 pp
+6.4 pp
+3.9 pp
+8.7 pp
+4.5 pp
+2.9 pp
+1.3 pp
+1.6 pp
−0.4 pp
−5.0 pp
−7.5 pp
−6.2 pp
−3.6 pp
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
+6.9 pp
+16.0 pp
+2.0 pp
−1.0 pp
+15.0 pp
+1.0 pp
+7.0 pp
+2.0 pp
—
Syngene International Ltd · 539268
−0.9 pp
+1.6 pp
+0.3 pp
−0.9 pp
−0.9 pp
−2.7 pp
−1.0 pp
−0.8 pp
−0.2 pp
−2.0 pp
+3.0 pp
−4.0 pp
−1.0 pp
+3.0 pp
−1.0 pp
+2.0 pp
−5.0 pp
−7.0 pp
−5.0 pp
—
03 · compare level, then change
Profit Scale & Acceleration
Divis Laboratories Ltd has the highest Net profit among the 24 Pharma - API & CRAMS companies compared here, at ₹2,568 crore. Laurus Labs Ltd is next at ₹1,090 crore. Acutaas Chemicals Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Divis Laboratories Ltd leads with ₹2,568 crore of TTM profit, 135.6% above Laurus Labs Ltd. Acutaas Chemicals Ltd shows ≥100% on the scoring scale (121.1% uncapped) growth from a ₹356 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderDivis Laboratories Ltd · ₹2,568 crore
Gap135.6% versus #2 · Laurus Labs Ltd
Persistence7/8 recent comparable periods
Coverage24/24 companies · 415 observations
Investor read: Divis Laboratories Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Divis Laboratories Ltd DIVISLAB₹2.6K Cr
2Laurus Labs Ltd LAURUSLABS₹1.1K Cr
3Gland Pharma Ltd GLAND₹1.0K Cr
4Granules India Ltd GRANULES₹663 Cr
5Anthem Biosciences Ltd ANTHEM₹576 Cr
Profit growthfastest growers
1Acutaas Chemicals Ltd 543349100%
2Dishman Carbogen Amcis Ltd DCAL100%
3Laurus Labs Ltd LAURUSLABS100%
4Sai Life Sciences Ltd SAILIFE100%
5Shilpa Medicare Ltd SHILPAMED100%
Net profit · company comparison
24/24 level · 23/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Divis Laboratories Ltd DIVISLAB | ₹751 Cr | 13% | Mar 2026 |
| Gland Pharma Ltd GLAND | ₹367 Cr | 96% | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | ₹362 Cr | 123% | Jun 2026 |
| Neuland Laboratories Ltd NEULANDLAB | ₹213 Cr | 661% | Mar 2026 |
| Granules India Ltd GRANULES | ₹180 Cr | 59% | Jun 2026 |
| Syngene International Ltd 539268 | ₹148 Cr | -19% | Mar 2026 |
| Anthem Biosciences Ltd ANTHEM | ₹120 Cr | -12% | Jun 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | ₹119 Cr | -21% | Mar 2026 |
| Shilpa Medicare Ltd SHILPAMED | ₹108 Cr | 620% | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | ₹104 Cr | 18% | Mar 2026 |
| Concord Biotech Ltd CONCORDBIO | ₹88 Cr | -37% | Mar 2026 |
| Acutaas Chemicals Ltd 543349 | ₹75 Cr | 70% | Jun 2026 |
| Supriya Lifescience Ltd SUPRIYA | ₹74 Cr | 48% | Mar 2026 |
| Blue Jet Healthcare Ltd BLUEJET | ₹64 Cr | -42% | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | ₹53 Cr | 71% | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | ₹33 Cr | 65% | Mar 2026 |
| OneSource Specialty Pharma Ltd ONESOURCE | ₹25 Cr | -95% | Jun 2026 |
| Dishman Carbogen Amcis Ltd DCAL | ₹22 Cr | -49% | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | ₹16 Cr | -20% | Mar 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | ₹16 Cr | 45% | Jun 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | ₹16 Cr | 0.0% | Mar 2026 |
| Hikal Ltd HIKAL | ₹14 Cr | -72% | Mar 2026 |
| Cohance Lifesciences Ltd COHANCE | ₹8 Cr | -93% | Mar 2026 |
| Piramal Pharma Ltd PPLPHARMA | ₹-9 Cr | -106% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
—
—
—
—
₹22 Cr
₹27 Cr
₹22 Cr
₹-17 Cr
₹18 Cr
₹26 Cr
₹15 Cr
₹38 Cr
₹45 Cr
₹63 Cr
₹44 Cr
₹72 Cr
₹106 Cr
₹134 Cr
₹75 Cr
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
₹79 Cr
₹79 Cr
₹105 Cr
₹105 Cr
₹82 Cr
₹162 Cr
₹124 Cr
₹83 Cr
₹136 Cr
₹173 Cr
₹93 Cr
₹190 Cr
₹120 Cr
Cohance Lifesciences Ltd · COHANCE
—
—
—
—
—
₹108 Cr
₹124 Cr
₹121 Cr
₹80 Cr
₹47 Cr
₹53 Cr
₹75 Cr
₹138 Cr
₹153 Cr
₹117 Cr
₹46 Cr
₹66 Cr
₹29 Cr
₹8 Cr
—
Divis Laboratories Ltd · DIVISLAB
₹606 Cr
₹902 Cr
₹895 Cr
₹702 Cr
₹494 Cr
₹306 Cr
₹321 Cr
₹356 Cr
₹348 Cr
₹358 Cr
₹538 Cr
₹430 Cr
₹510 Cr
₹589 Cr
₹662 Cr
₹545 Cr
₹689 Cr
₹583 Cr
₹751 Cr
—
Gland Pharma Ltd · GLAND
₹302 Cr
₹273 Cr
₹286 Cr
₹229 Cr
₹241 Cr
₹232 Cr
₹79 Cr
₹194 Cr
₹194 Cr
₹192 Cr
₹192 Cr
₹144 Cr
₹164 Cr
₹205 Cr
₹187 Cr
₹215 Cr
₹184 Cr
₹261 Cr
₹367 Cr
—
Granules India Ltd · GRANULES
₹81 Cr
₹101 Cr
₹111 Cr
₹128 Cr
₹145 Cr
₹124 Cr
₹120 Cr
₹48 Cr
₹102 Cr
₹126 Cr
₹130 Cr
₹135 Cr
₹97 Cr
₹118 Cr
₹152 Cr
₹113 Cr
₹131 Cr
₹150 Cr
₹202 Cr
₹180 Cr
Laurus Labs Ltd · LAURUSLABS
₹202 Cr
₹154 Cr
₹231 Cr
₹251 Cr
₹233 Cr
₹203 Cr
₹105 Cr
₹27 Cr
₹37 Cr
₹23 Cr
₹75 Cr
₹13 Cr
₹20 Cr
₹93 Cr
₹233 Cr
₹162 Cr
₹194 Cr
₹252 Cr
₹282 Cr
₹362 Cr
Neuland Laboratories Ltd · NEULANDLAB
₹20 Cr
₹13 Cr
₹22 Cr
₹10 Cr
₹38 Cr
₹31 Cr
₹85 Cr
₹62 Cr
₹89 Cr
₹81 Cr
₹68 Cr
₹98 Cr
₹33 Cr
₹102 Cr
₹28 Cr
₹14 Cr
₹97 Cr
₹41 Cr
₹213 Cr
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
₹-107 Cr
₹-114 Cr
₹-130 Cr
₹-40 Cr
₹-6 Cr
₹-42 Cr
₹-69 Cr
₹98 Cr
₹0 Cr
₹10 Cr
₹-89 Cr
₹5 Cr
₹25 Cr
Piramal Pharma Ltd · PPLPHARMA
₹37 Cr
₹163 Cr
₹204 Cr
₹-109 Cr
₹-37 Cr
₹-90 Cr
₹50 Cr
₹-99 Cr
₹5 Cr
₹10 Cr
₹101 Cr
₹-89 Cr
₹23 Cr
₹4 Cr
₹154 Cr
₹-82 Cr
₹-99 Cr
₹-136 Cr
₹-9 Cr
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
₹-6 Cr
₹-6 Cr
₹40 Cr
₹56 Cr
₹-14 Cr
₹42 Cr
₹54 Cr
₹88 Cr
₹60 Cr
₹84 Cr
₹100 Cr
₹104 Cr
—
Syngene International Ltd · 539268
—
—
—
—
—
₹110 Cr
₹179 Cr
₹93 Cr
₹116 Cr
₹112 Cr
₹189 Cr
₹76 Cr
₹106 Cr
₹131 Cr
₹183 Cr
₹87 Cr
₹67 Cr
₹15 Cr
₹148 Cr
—
Profit growth · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
—
—
—
—
—
—
—
—
-18%
-3.7%
-32%
—
150%
142%
193%
89%
136%
113%
70%
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
3.8%
105%
18%
-21%
66%
6.8%
-25%
129%
-12%
Cohance Lifesciences Ltd · COHANCE
—
—
—
—
—
—
—
—
—
-57%
-57%
-38%
74%
228%
120%
-38%
-52%
-81%
-93%
—
Divis Laboratories Ltd · DIVISLAB
—
—
—
26%
-18%
-66%
-64%
-49%
-30%
17%
68%
21%
47%
65%
23%
27%
35%
-1.0%
13%
—
Gland Pharma Ltd · GLAND
—
—
—
-35%
-20%
-15%
-72%
-15%
-20%
-17%
143%
-26%
-15%
6.8%
-2.6%
49%
12%
27%
96%
—
Granules India Ltd · GRANULES
—
—
—
—
79%
23%
8.1%
-63%
-30%
1.6%
8.3%
181%
-4.9%
-6.4%
17%
-16%
35%
27%
33%
59%
Laurus Labs Ltd · LAURUSLABS
—
—
—
4.2%
15%
32%
-55%
-89%
-84%
-89%
-29%
-52%
-46%
304%
211%
1,146%
870%
171%
21%
123%
Neuland Laboratories Ltd · NEULANDLAB
—
—
—
11%
90%
138%
286%
520%
134%
161%
-20%
58%
-63%
26%
-59%
-86%
194%
-60%
661%
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-95%
—
Piramal Pharma Ltd · PPLPHARMA
—
—
—
-2,825%
-200%
-155%
-75%
—
—
—
102%
—
350%
-64%
52%
—
-539%
-3,801%
-106%
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
—
—
35%
57%
—
100%
85%
18%
—
Syngene International Ltd · 539268
—
—
—
—
—
—
—
—
—
1.8%
5.6%
-18%
-8.6%
17%
-3.2%
14%
-37%
-89%
-19%
—
04 · compare level, then change
Capacity Spending & Returns On It
Piramal Pharma Ltd has the highest CAPEX among the 24 Pharma - API & CRAMS companies compared here, at ₹261 crore. Anthem Biosciences Ltd is next at ₹72 crore. Blue Jet Healthcare Ltd has the highest CAPEX intensity at 28.2%, so level and change sit with different companies. Its CAPEX series carries 4 reported observations across the 20-quarter window.
What the numbers say: Piramal Pharma Ltd reports ₹261 crore of CAPEX; Blue Jet Healthcare Ltd has the highest covered intensity at 28.2%. Coverage is only 4 of 24 companies and 14 reported observations, so this is partial evidence—not a complete sector rank.
LeaderPiramal Pharma Ltd · ₹261 crore
Gap262.5% versus #2 · Anthem Biosciences Ltd
Persistence4/4 recent comparable periods
Coverage4/24 companies · 14 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Piramal Pharma Ltd PPLPHARMA₹261 Cr
2Anthem Biosciences Ltd ANTHEM₹72 Cr
3Blue Jet Healthcare Ltd BLUEJET₹51 Cr
4Sai Life Sciences Ltd SAILIFE₹34 Cr
CAPEX intensityhighest reinvestment intensity
1Blue Jet Healthcare Ltd BLUEJET28%
2Anthem Biosciences Ltd ANTHEM17%
3Piramal Pharma Ltd PPLPHARMA12%
4Sai Life Sciences Ltd SAILIFE11%
Capital expenditure · company comparison
4/24 level · 4/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: Cohance Lifesciences Ltd (COHANCE) — its two data sources disagree by up to 129% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| Piramal Pharma Ltd PPLPHARMA | ₹261 Cr | 12% | Mar 2026 |
| Anthem Biosciences Ltd ANTHEM | ₹72 Cr | 17% | Jun 2026 |
| Blue Jet Healthcare Ltd BLUEJET | ₹51 Cr | 28% | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | ₹34 Cr | 11% | Mar 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
₹73 Cr
₹73 Cr
₹72 Cr
₹72 Cr
—
—
—
—
—
—
—
—
—
Blue Jet Healthcare Ltd · BLUEJET
—
—
—
₹6 Cr
₹19 Cr
—
—
₹29 Cr
₹51 Cr
—
—
—
—
—
—
—
—
—
—
—
Piramal Pharma Ltd · PPLPHARMA
—
₹592 Cr
₹298 Cr
—
—
₹277 Cr
₹261 Cr
—
—
—
—
—
—
—
—
—
—
—
—
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
₹34 Cr
₹34 Cr
—
—
—
—
—
—
—
—
—
—
—
CAPEX intensity · reported quarter history
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
25%
25%
17%
17%
—
—
—
—
—
—
—
—
—
Blue Jet Healthcare Ltd · BLUEJET
—
—
—
4.1%
10%
—
—
16%
28%
—
—
—
—
—
—
—
—
—
—
—
Piramal Pharma Ltd · PPLPHARMA
—
39%
13%
—
—
16%
12%
—
—
—
—
—
—
—
—
—
—
—
—
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
11%
11%
—
—
—
—
—
—
—
—
—
—
—
Annual capital allocation · 10-year view
24/24 capacity base · 24/24 OCF · 24/24 CAPEX · 24/24 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
₹39 Cr
₹62 Cr
₹81 Cr
₹97 Cr
₹186 Cr
₹208 Cr
₹289 Cr
₹552 Cr
₹700 Cr
₹1.1K Cr
Anthem Biosciences Ltd · ANTHEM
—
—
—
₹356 Cr
₹380 Cr
₹483 Cr
₹613 Cr
₹828 Cr
₹1.0K Cr
₹1.0K Cr
Cohance Lifesciences Ltd · COHANCE
—
—
₹382 Cr
₹459 Cr
₹537 Cr
₹564 Cr
₹828 Cr
₹849 Cr
₹2.0K Cr
₹3.5K Cr
Divis Laboratories Ltd · DIVISLAB
₹2.0K Cr
₹2.1K Cr
₹2.6K Cr
₹3.7K Cr
₹4.4K Cr
₹4.8K Cr
₹4.9K Cr
₹5.5K Cr
₹6.5K Cr
₹8.6K Cr
Gland Pharma Ltd · GLAND
—
—
—
₹1.2K Cr
₹1.3K Cr
₹1.7K Cr
₹1.7K Cr
₹4.2K Cr
₹4.3K Cr
₹4.8K Cr
Granules India Ltd · GRANULES
₹911 Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.6K Cr
₹1.9K Cr
₹2.2K Cr
₹2.4K Cr
₹2.9K Cr
₹3.7K Cr
Laurus Labs Ltd · LAURUSLABS
₹1.4K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
₹2.5K Cr
₹3.5K Cr
₹4.0K Cr
₹4.3K Cr
₹4.6K Cr
₹5.1K Cr
Neuland Laboratories Ltd · NEULANDLAB
₹486 Cr
₹601 Cr
₹646 Cr
₹677 Cr
₹733 Cr
₹787 Cr
₹799 Cr
₹870 Cr
₹1.0K Cr
₹1.4K Cr
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
₹1.1K Cr
₹1.7K Cr
₹1.7K Cr
₹1.1K Cr
₹6.3K Cr
₹6.5K Cr
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
₹6.7K Cr
₹8.1K Cr
₹8.9K Cr
₹9.1K Cr
₹9.1K Cr
₹9.8K Cr
Sai Life Sciences Ltd · SAILIFE
—
—
₹489 Cr
₹732 Cr
₹947 Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.6K Cr
₹2.1K Cr
Syngene International Ltd · 539268
₹985 Cr
₹1.2K Cr
₹1.7K Cr
₹2.3K Cr
₹2.4K Cr
₹2.7K Cr
₹2.8K Cr
₹3.7K Cr
₹4.1K Cr
₹4.0K Cr
Operating cash flow · fiscal-year history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
₹29 Cr
₹8 Cr
₹15 Cr
₹27 Cr
₹28 Cr
₹-12 Cr
₹66 Cr
₹125 Cr
₹118 Cr
₹292 Cr
Anthem Biosciences Ltd · ANTHEM
—
—
—
₹166 Cr
₹278 Cr
₹333 Cr
₹306 Cr
₹140 Cr
₹271 Cr
₹844 Cr
Cohance Lifesciences Ltd · COHANCE
—
—
₹50 Cr
₹407 Cr
₹383 Cr
₹330 Cr
₹457 Cr
₹358 Cr
₹288 Cr
₹368 Cr
Divis Laboratories Ltd · DIVISLAB
₹1.2K Cr
₹776 Cr
₹954 Cr
₹1.2K Cr
₹1.9K Cr
₹1.9K Cr
₹2.5K Cr
₹1.3K Cr
₹1.7K Cr
₹2.7K Cr
Gland Pharma Ltd · GLAND
—
—
—
₹701 Cr
₹605 Cr
₹791 Cr
₹364 Cr
₹997 Cr
₹915 Cr
₹1.0K Cr
Granules India Ltd · GRANULES
₹188 Cr
₹-1 Cr
₹262 Cr
₹476 Cr
₹432 Cr
₹332 Cr
₹739 Cr
₹439 Cr
₹867 Cr
₹793 Cr
Laurus Labs Ltd · LAURUSLABS
₹332 Cr
₹342 Cr
₹298 Cr
₹347 Cr
₹733 Cr
₹911 Cr
₹994 Cr
₹666 Cr
₹602 Cr
₹1.6K Cr
Neuland Laboratories Ltd · NEULANDLAB
₹39 Cr
₹11 Cr
₹70 Cr
₹57 Cr
₹189 Cr
₹60 Cr
₹237 Cr
₹261 Cr
₹317 Cr
₹347 Cr
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
₹-118 Cr
₹-416 Cr
₹-163 Cr
₹-107 Cr
₹-68 Cr
₹9 Cr
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
₹598 Cr
₹766 Cr
₹484 Cr
₹1.0K Cr
₹892 Cr
₹1.7K Cr
Sai Life Sciences Ltd · SAILIFE
—
—
₹129 Cr
₹116 Cr
₹-36 Cr
₹105 Cr
₹219 Cr
₹263 Cr
₹314 Cr
₹509 Cr
Syngene International Ltd · 539268
₹398 Cr
₹446 Cr
₹630 Cr
₹677 Cr
₹701 Cr
₹581 Cr
₹824 Cr
₹1.0K Cr
₹1.2K Cr
₹915 Cr
CAPEX · reported cash flow · fiscal-year history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
₹25 Cr
₹22 Cr
₹20 Cr
₹93 Cr
₹32 Cr
₹93 Cr
₹279 Cr
₹175 Cr
₹413 Cr
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
₹86 Cr
₹161 Cr
₹194 Cr
₹297 Cr
₹263 Cr
₹179 Cr
Cohance Lifesciences Ltd · COHANCE
—
—
—
₹101 Cr
₹110 Cr
₹66 Cr
₹312 Cr
₹76 Cr
₹1.2K Cr
₹1.8K Cr
Divis Laboratories Ltd · DIVISLAB
₹423 Cr
₹255 Cr
₹633 Cr
₹1.3K Cr
₹969 Cr
₹692 Cr
₹483 Cr
₹960 Cr
₹1.3K Cr
₹2.6K Cr
Gland Pharma Ltd · GLAND
—
—
—
—
₹235 Cr
₹511 Cr
₹202 Cr
₹2.8K Cr
₹491 Cr
₹960 Cr
Granules India Ltd · GRANULES
₹346 Cr
₹457 Cr
₹253 Cr
₹195 Cr
₹224 Cr
₹485 Cr
₹437 Cr
₹425 Cr
₹724 Cr
₹1.1K Cr
Laurus Labs Ltd · LAURUSLABS
₹388 Cr
₹396 Cr
₹259 Cr
₹241 Cr
₹945 Cr
₹1.2K Cr
₹819 Cr
₹738 Cr
₹698 Cr
₹1.0K Cr
Neuland Laboratories Ltd · NEULANDLAB
₹326 Cr
₹137 Cr
₹71 Cr
₹62 Cr
₹96 Cr
₹103 Cr
₹65 Cr
₹131 Cr
₹199 Cr
₹477 Cr
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
₹727 Cr
₹40 Cr
₹-568 Cr
₹5.6K Cr
₹490 Cr
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
₹1.9K Cr
₹1.5K Cr
₹959 Cr
₹820 Cr
₹1.5K Cr
Sai Life Sciences Ltd · SAILIFE
—
—
—
₹298 Cr
₹295 Cr
₹304 Cr
₹126 Cr
₹218 Cr
₹464 Cr
₹640 Cr
Syngene International Ltd · 539268
₹282 Cr
₹331 Cr
₹630 Cr
₹822 Cr
₹458 Cr
₹611 Cr
₹471 Cr
₹1.3K Cr
₹813 Cr
₹431 Cr
Free cash flow · fiscal-year history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
₹-17 Cr
₹-7 Cr
₹7 Cr
₹-65 Cr
₹-44 Cr
₹-27 Cr
₹-154 Cr
₹-57 Cr
₹-121 Cr
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
₹192 Cr
₹172 Cr
₹112 Cr
₹-157 Cr
₹8 Cr
₹665 Cr
Cohance Lifesciences Ltd · COHANCE
—
—
—
₹306 Cr
₹273 Cr
₹264 Cr
₹145 Cr
₹282 Cr
₹-909 Cr
₹-1.4K Cr
Divis Laboratories Ltd · DIVISLAB
₹727 Cr
₹521 Cr
₹321 Cr
₹-92 Cr
₹978 Cr
₹1.2K Cr
₹2.0K Cr
₹301 Cr
₹304 Cr
₹98 Cr
Gland Pharma Ltd · GLAND
—
—
—
—
₹370 Cr
₹280 Cr
₹162 Cr
₹-1.8K Cr
₹424 Cr
₹71 Cr
Granules India Ltd · GRANULES
₹-158 Cr
₹-458 Cr
₹9 Cr
₹281 Cr
₹208 Cr
₹-153 Cr
₹302 Cr
₹14 Cr
₹143 Cr
₹-297 Cr
Laurus Labs Ltd · LAURUSLABS
₹-56 Cr
₹-54 Cr
₹39 Cr
₹106 Cr
₹-212 Cr
₹-272 Cr
₹175 Cr
₹-72 Cr
₹-96 Cr
₹581 Cr
Neuland Laboratories Ltd · NEULANDLAB
₹-287 Cr
₹-126 Cr
₹-1 Cr
₹-5 Cr
₹93 Cr
₹-43 Cr
₹172 Cr
₹130 Cr
₹118 Cr
₹-130 Cr
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
₹-1.1K Cr
₹-203 Cr
₹461 Cr
₹-5.6K Cr
₹-481 Cr
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
₹-1.1K Cr
₹-1.0K Cr
₹46 Cr
₹72 Cr
₹148 Cr
Sai Life Sciences Ltd · SAILIFE
—
—
—
₹-182 Cr
₹-331 Cr
₹-199 Cr
₹93 Cr
₹45 Cr
₹-150 Cr
₹-131 Cr
Syngene International Ltd · 539268
₹116 Cr
₹115 Cr
₹0 Cr
₹-145 Cr
₹243 Cr
₹-30 Cr
₹353 Cr
₹-228 Cr
₹355 Cr
₹484 Cr
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Concord Biotech Ltd has the lowest Gross debt among the 24 Pharma - API & CRAMS companies compared here, at ₹2 crore. Supriya Lifescience Ltd is next at ₹5 crore. Divis Laboratories Ltd has the lowest Net debt at ₹3,226 crore net cash, so level and change sit with different companies.
What the numbers say: Divis Laboratories Ltd has the clearest covered balance-sheet capacity with ₹3,226 crore net cash and gross debt of ₹7 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderConcord Biotech Ltd · ₹2 crore
Gap60% versus #2 · Supriya Lifescience Ltd
Persistence8/8 recent comparable periods
Coverage24/24 companies · 381 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Concord Biotech Ltd CONCORDBIO₹2 Cr
2Supriya Lifescience Ltd SUPRIYA₹5 Cr
3Divis Laboratories Ltd DIVISLAB₹7 Cr
4Windlas Biotech Ltd WINDLAS⚠ unverified₹35 Cr
5Acutaas Chemicals Ltd 543349₹36 Cr
Net debtlowest net debt
1Divis Laboratories Ltd DIVISLAB₹-3.2K Cr
2Gland Pharma Ltd GLAND₹-3.1K Cr
3Anthem Biosciences Ltd ANTHEM₹-884 Cr
4Concord Biotech Ltd CONCORDBIO₹-430 Cr
5Blue Jet Healthcare Ltd BLUEJET₹-334 Cr
Debt and balance-sheet capacity · company comparison
24/24 level · 21/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| Piramal Pharma Ltd PPLPHARMA | ₹5.7K Cr | ₹4.4K Cr | Mar 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | ₹3.6K Cr | ₹2.3K Cr | Mar 2026 |
| Dishman Carbogen Amcis Ltd DCAL | ₹3.1K Cr | ₹2.1K Cr | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | ₹2.5K Cr | ₹2.4K Cr | Jun 2026 |
| Granules India Ltd GRANULES | ₹1.5K Cr | ₹578 Cr | Jun 2026 |
| OneSource Specialty Pharma Ltd ONESOURCE | ₹1.5K Cr | ₹1.4K Cr | Jun 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | ₹687 Cr | ₹634 Cr | Jun 2026 |
| Hikal Ltd HIKAL | ₹684 Cr | ₹670 Cr | Mar 2026 |
| Shilpa Medicare Ltd SHILPAMED | ₹660 Cr | ₹615 Cr | Mar 2026 |
| Syngene International Ltd 539268 | ₹458 Cr | — | Mar 2026 |
| Cohance Lifesciences Ltd COHANCE | ₹400 Cr | — | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | ₹365 Cr | ₹319 Cr | Mar 2026 |
| Neuland Laboratories Ltd NEULANDLAB | ₹301 Cr | ₹224 Cr | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | ₹288 Cr | ₹130 Cr | Mar 2026 |
| Gland Pharma Ltd GLAND | ₹284 Cr | ₹-3.1K Cr | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | ₹208 Cr | ₹116 Cr | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | ₹135 Cr | ₹-67 Cr | Mar 2026 |
| Anthem Biosciences Ltd ANTHEM | ₹54 Cr | ₹-884 Cr | Jun 2026 |
| Blue Jet Healthcare Ltd BLUEJET | ₹42 Cr | ₹-334 Cr | Mar 2026 |
| Acutaas Chemicals Ltd 543349 | ₹36 Cr | — | Jun 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | ₹35 Cr | ₹-244 Cr | Mar 2026 |
| Divis Laboratories Ltd DIVISLAB | ₹7 Cr | ₹-3.2K Cr | Mar 2026 |
| Supriya Lifescience Ltd SUPRIYA | ₹5 Cr | ₹-74 Cr | Mar 2026 |
| Concord Biotech Ltd CONCORDBIO | ₹2 Cr | ₹-430 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
—
₹1 Cr
—
—
—
₹4 Cr
—
—
—
₹217 Cr
—
—
—
₹13 Cr
—
₹8 Cr
—
₹36 Cr
—
Anthem Biosciences Ltd · ANTHEM
—
—
₹35 Cr
—
—
—
₹126 Cr
₹126 Cr
—
₹239 Cr
₹239 Cr
₹239 Cr
₹136 Cr
—
₹113 Cr
₹113 Cr
₹108 Cr
₹110 Cr
₹54 Cr
₹54 Cr
Cohance Lifesciences Ltd · COHANCE
—
—
₹97 Cr
—
—
—
₹70 Cr
—
—
—
₹65 Cr
—
—
—
₹279 Cr
—
₹451 Cr
—
₹400 Cr
—
Divis Laboratories Ltd · DIVISLAB
₹4 Cr
₹4 Cr
₹4 Cr
₹4 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹5 Cr
₹5 Cr
₹3 Cr
₹3 Cr
₹8 Cr
₹8 Cr
₹4 Cr
₹4 Cr
₹90 Cr
₹90 Cr
₹7 Cr
—
Gland Pharma Ltd · GLAND
₹5 Cr
₹5 Cr
₹5 Cr
₹5 Cr
₹5 Cr
₹5 Cr
₹4 Cr
₹4 Cr
₹357 Cr
₹357 Cr
₹372 Cr
₹372 Cr
₹327 Cr
₹327 Cr
₹314 Cr
₹314 Cr
₹302 Cr
₹302 Cr
₹284 Cr
—
Granules India Ltd · GRANULES
₹975 Cr
₹975 Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.4K Cr
₹1.4K Cr
₹1.3K Cr
₹1.3K Cr
₹1.1K Cr
₹1.1K Cr
₹1.5K Cr
₹1.5K Cr
₹1.8K Cr
₹1.8K Cr
₹1.5K Cr
₹1.5K Cr
Laurus Labs Ltd · LAURUSLABS
₹1.8K Cr
₹1.8K Cr
₹1.8K Cr
₹1.8K Cr
₹2.1K Cr
₹2.1K Cr
₹2.0K Cr
₹2.0K Cr
₹2.1K Cr
₹2.1K Cr
₹2.6K Cr
₹2.6K Cr
₹2.8K Cr
₹2.8K Cr
₹2.8K Cr
₹2.8K Cr
₹2.2K Cr
₹2.2K Cr
₹2.5K Cr
—
Neuland Laboratories Ltd · NEULANDLAB
₹227 Cr
₹227 Cr
₹241 Cr
₹241 Cr
₹209 Cr
₹209 Cr
₹128 Cr
₹128 Cr
₹101 Cr
₹101 Cr
₹95 Cr
₹95 Cr
₹109 Cr
₹109 Cr
₹157 Cr
₹157 Cr
₹265 Cr
₹265 Cr
₹301 Cr
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
₹1.2K Cr
—
—
—
₹864 Cr
—
—
—
₹562 Cr
—
₹1.5K Cr
₹1.5K Cr
₹772 Cr
₹942 Cr
₹1.3K Cr
₹1.3K Cr
₹1.5K Cr
—
Piramal Pharma Ltd · PPLPHARMA
—
—
₹4.1K Cr
₹4.1K Cr
₹5.0K Cr
₹5.3K Cr
₹5.6K Cr
₹5.6K Cr
₹4.5K Cr
₹4.5K Cr
₹4.7K Cr
₹4.7K Cr
₹4.8K Cr
₹4.8K Cr
₹4.9K Cr
₹4.9K Cr
₹4.9K Cr
₹4.9K Cr
₹5.7K Cr
—
Sai Life Sciences Ltd · SAILIFE
—
—
₹752 Cr
—
—
—
₹933 Cr
₹933 Cr
—
—
₹928 Cr
—
₹995 Cr
—
₹352 Cr
₹352 Cr
₹418 Cr
₹418 Cr
₹288 Cr
—
Syngene International Ltd · 539268
—
—
₹1.0K Cr
—
—
—
₹815 Cr
—
—
—
₹555 Cr
—
—
—
₹578 Cr
—
₹312 Cr
—
₹458 Cr
—
Net debt · reported quarter history
Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
₹-709 Cr
—
₹-404 Cr
₹-404 Cr
₹-404 Cr
₹-539 Cr
—
₹-371 Cr
₹-619 Cr
₹-921 Cr
₹-921 Cr
₹-884 Cr
₹-884 Cr
Concord Biotech Ltd · CONCORDBIO
—
—
—
₹-99 Cr
—
—
₹-139 Cr
₹-139 Cr
₹-202 Cr
₹-202 Cr
₹-272 Cr
₹-272 Cr
₹-281 Cr
₹-281 Cr
₹-332 Cr
₹-315 Cr
₹-329 Cr
₹-329 Cr
₹-430 Cr
—
Divis Laboratories Ltd · DIVISLAB
₹-1.9K Cr
₹-1.9K Cr
₹-2.7K Cr
₹-2.7K Cr
₹-3.3K Cr
₹-3.3K Cr
₹-4.1K Cr
₹-4.1K Cr
₹-3.6K Cr
₹-3.6K Cr
₹-3.7K Cr
₹-3.7K Cr
₹-3.6K Cr
₹-3.6K Cr
₹-3.5K Cr
₹-3.5K Cr
₹-3.2K Cr
₹-3.2K Cr
₹-3.2K Cr
—
Gland Pharma Ltd · GLAND
₹-2.9K Cr
₹-2.9K Cr
₹-3.2K Cr
₹-3.2K Cr
₹-3.3K Cr
₹-3.3K Cr
₹-3.8K Cr
₹-3.8K Cr
₹-1.8K Cr
₹-1.8K Cr
₹-1.6K Cr
₹-1.5K Cr
₹-2.6K Cr
₹-2.6K Cr
₹-2.6K Cr
₹-2.6K Cr
₹-2.9K Cr
₹-2.9K Cr
₹-3.1K Cr
—
Granules India Ltd · GRANULES
₹616 Cr
₹616 Cr
₹710 Cr
₹710 Cr
₹517 Cr
₹517 Cr
₹844 Cr
₹844 Cr
₹1.1K Cr
₹1.1K Cr
₹934 Cr
₹934 Cr
₹880 Cr
₹880 Cr
₹986 Cr
₹986 Cr
₹1.2K Cr
₹1.2K Cr
₹578 Cr
₹578 Cr
Jubilant Pharmova Ltd · JUBLPHARMA
₹2.1K Cr
₹2.1K Cr
₹2.2K Cr
₹2.2K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.0K Cr
₹2.0K Cr
₹1.6K Cr
₹1.6K Cr
₹2.3K Cr
₹2.3K Cr
₹2.3K Cr
—
Laurus Labs Ltd · LAURUSLABS
₹1.7K Cr
₹1.7K Cr
₹1.7K Cr
₹1.7K Cr
₹2.0K Cr
₹2.0K Cr
₹2.0K Cr
₹2.0K Cr
₹2.1K Cr
₹2.1K Cr
₹2.4K Cr
₹2.4K Cr
₹2.7K Cr
₹2.7K Cr
₹2.6K Cr
₹2.6K Cr
₹2.1K Cr
₹2.1K Cr
₹2.4K Cr
—
Neuland Laboratories Ltd · NEULANDLAB
₹190 Cr
₹190 Cr
₹233 Cr
₹233 Cr
₹186 Cr
₹186 Cr
₹83 Cr
₹83 Cr
₹-36 Cr
₹-36 Cr
₹7 Cr
₹-8 Cr
₹-81 Cr
₹-81 Cr
₹-83 Cr
₹-83 Cr
₹96 Cr
₹96 Cr
₹224 Cr
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
₹549 Cr
—
₹1.5K Cr
₹1.5K Cr
₹731 Cr
₹632 Cr
₹1.1K Cr
₹1.1K Cr
₹1.4K Cr
—
Piramal Pharma Ltd · PPLPHARMA
—
—
₹3.8K Cr
₹3.8K Cr
₹4.5K Cr
₹4.8K Cr
₹5.0K Cr
₹5.0K Cr
₹3.9K Cr
₹3.9K Cr
₹4.2K Cr
₹4.2K Cr
₹4.4K Cr
₹4.4K Cr
₹4.4K Cr
₹4.4K Cr
₹4.1K Cr
₹4.1K Cr
₹4.4K Cr
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
₹728 Cr
—
—
₹743 Cr
—
₹783 Cr
—
₹-20 Cr
₹-112 Cr
₹112 Cr
₹112 Cr
₹130 Cr
—
Shilpa Medicare Ltd · SHILPAMED
₹798 Cr
₹798 Cr
₹658 Cr
₹646 Cr
₹746 Cr
₹746 Cr
₹779 Cr
₹776 Cr
₹834 Cr
₹841 Cr
₹907 Cr
₹907 Cr
₹474 Cr
₹474 Cr
₹562 Cr
₹559 Cr
₹571 Cr
₹571 Cr
₹615 Cr
—
06 · compare level, then change
Return On Capital Employed
Acutaas Chemicals Ltd has the highest ROCE among the 24 Pharma - API & CRAMS companies compared here, at 31.6%. Anthem Biosciences Ltd is next at 30.4%. The same company also holds the highest ROCE change, at +12 percentage points. 24 of 24 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Acutaas Chemicals Ltd leads ROCE at 31.6%, 1.2 percentage points above Anthem Biosciences Ltd. Acutaas Chemicals Ltd has the strongest latest improvement at +12 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderAcutaas Chemicals Ltd · 31.6%
Gap3.9% versus #2 · Anthem Biosciences Ltd
PersistenceNot enough history
Coverage24/24 companies · 292 observations
Investor read: Acutaas Chemicals Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Acutaas Chemicals Ltd 54334932%
2Anthem Biosciences Ltd ANTHEM30%
3Blue Jet Healthcare Ltd BLUEJET27%
4Neuland Laboratories Ltd NEULANDLAB27%
5Supriya Lifescience Ltd SUPRIYA25%
ROCE changefastest improvers
1Acutaas Chemicals Ltd 543349+12.0 pp
2Laurus Labs Ltd LAURUSLABS+8.1 pp
3Neuland Laboratories Ltd NEULANDLAB+6.5 pp
4Sai Life Sciences Ltd SAILIFE+5.5 pp
5Shilpa Medicare Ltd SHILPAMED+3.6 pp
Return on capital · company comparison
24/24 level · 24/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: Cohance Lifesciences Ltd (COHANCE) — its two data sources disagree by up to 129% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Anthem Biosciences Ltd ANTHEM | 28% | −4.1 pp | Jun 2026 |
| Neuland Laboratories Ltd NEULANDLAB | 22% | +6.5 pp | Mar 2026 |
| Supriya Lifescience Ltd SUPRIYA | 22% | −1.8 pp | Mar 2026 |
| Granules India Ltd GRANULES | 20% | +1.2 pp | Jun 2026 |
| Blue Jet Healthcare Ltd BLUEJET | 19% | −11.9 pp | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | 19% | +8.1 pp | Jun 2026 |
| Divis Laboratories Ltd DIVISLAB | 17% | 0.0 pp | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | 17% | +5.5 pp | Mar 2026 |
| Concord Biotech Ltd CONCORDBIO | 15% | −10.3 pp | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | 13% | +0.3 pp | Mar 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | 13% | −0.4 pp | Mar 2026 |
| Gland Pharma Ltd GLAND | 11% | +2.1 pp | Mar 2026 |
| Shilpa Medicare Ltd SHILPAMED | 11% | +3.6 pp | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | 10% | +2.6 pp | Mar 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | 6.3% | −1.3 pp | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | 6.2% | −5.2 pp | Mar 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | 6.1% | −2.3 pp | Jun 2026 |
| Hikal Ltd HIKAL | 3.4% | −7.8 pp | Mar 2026 |
| Dishman Carbogen Amcis Ltd DCAL | 2.4% | 0.0 pp | Mar 2026 |
| Piramal Pharma Ltd PPLPHARMA | 0.7% | −4.6 pp | Mar 2026 |
| OneSource Specialty Pharma Ltd ONESOURCE | 0.4% | −2.5 pp | Jun 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
15%
21%
—
23%
—
24%
32%
23%
28%
23%
28%
Concord Biotech Ltd · CONCORDBIO
—
—
—
—
—
—
23%
—
28%
30%
25%
29%
26%
29%
25%
28%
21%
24%
15%
—
Divis Laboratories Ltd · DIVISLAB
27%
—
29%
—
27%
—
15%
—
12%
15%
13%
17%
15%
20%
17%
21%
17%
22%
17%
—
Gland Pharma Ltd · GLAND
20%
—
19%
—
15%
—
11%
—
9.8%
12%
11%
13%
9.4%
12%
9.0%
13%
9.6%
13%
11%
—
Granules India Ltd · GRANULES
23%
—
20%
—
23%
—
24%
—
19%
21%
19%
24%
20%
22%
17%
19%
17%
20%
16%
20%
Jubilant Pharmova Ltd · JUBLPHARMA
16%
—
10%
—
5.8%
—
4.0%
—
3.9%
4.2%
5.4%
9.7%
6.6%
10%
7.6%
8.4%
7.6%
7.9%
6.3%
—
Laurus Labs Ltd · LAURUSLABS
37%
—
27%
—
28%
—
25%
—
14%
9.4%
7.5%
7.7%
6.8%
9.4%
11%
16%
17%
23%
19%
—
Neuland Laboratories Ltd · NEULANDLAB
9.9%
—
9.4%
—
12%
—
20%
—
29%
38%
29%
36%
23%
29%
16%
16%
14%
15%
22%
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
-15%
-32%
-0.8%
-0.6%
2.9%
3.5%
3.7%
2.0%
0.4%
—
Piramal Pharma Ltd · PPLPHARMA
—
—
6.1%
—
3.6%
1.3%
-1.1%
—
0.1%
4.5%
4.2%
6.3%
5.9%
7.6%
5.3%
6.8%
2.7%
3.8%
0.7%
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
12%
—
14%
17%
11%
20%
16%
23%
17%
—
Shilpa Medicare Ltd · SHILPAMED
2.9%
—
5.3%
—
2.8%
—
-0.3%
—
2.6%
4.8%
5.4%
7.8%
6.9%
8.9%
7.4%
8.5%
8.6%
9.4%
11%
—
ROCE change · reported quarter history
Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+3.1 pp
—
+0.9 pp
—
−0.9 pp
−4.1 pp
Concord Biotech Ltd · CONCORDBIO
—
—
—
—
—
—
—
—
—
—
+2.1 pp
—
−2.6 pp
−0.4 pp
+0.2 pp
−1.6 pp
−4.9 pp
−5.5 pp
−10.3 pp
—
Divis Laboratories Ltd · DIVISLAB
—
—
—
—
−0.6 pp
—
−14.1 pp
—
−15.0 pp
—
−2.3 pp
—
+3.7 pp
+5.3 pp
+3.7 pp
+4.1 pp
+2.0 pp
+1.4 pp
0.0 pp
—
Gland Pharma Ltd · GLAND
—
—
—
—
−4.9 pp
—
−8.3 pp
—
−4.8 pp
—
−0.5 pp
—
−0.4 pp
+0.7 pp
−1.5 pp
−0.2 pp
+0.2 pp
+0.8 pp
+2.1 pp
—
Granules India Ltd · GRANULES
—
—
—
—
+0.5 pp
—
+4.0 pp
—
−4.0 pp
—
−4.9 pp
—
+1.0 pp
+0.6 pp
−2.0 pp
−4.8 pp
−3.8 pp
−1.5 pp
−1.1 pp
+1.2 pp
Jubilant Pharmova Ltd · JUBLPHARMA
—
—
—
—
−9.9 pp
—
−6.0 pp
—
−1.9 pp
—
+1.4 pp
—
+2.7 pp
+5.8 pp
+2.2 pp
−1.3 pp
+1.0 pp
−2.1 pp
−1.3 pp
—
Laurus Labs Ltd · LAURUSLABS
—
—
—
—
−9.1 pp
—
−2.6 pp
—
−13.8 pp
—
−17.3 pp
—
−7.2 pp
0.0 pp
+3.3 pp
+8.7 pp
+9.8 pp
+13.5 pp
+8.1 pp
—
Neuland Laboratories Ltd · NEULANDLAB
—
—
—
—
+1.9 pp
—
+10.8 pp
—
+17.1 pp
—
+8.5 pp
—
−6.0 pp
−8.2 pp
−13.2 pp
−20.8 pp
−9.2 pp
−14.2 pp
+6.5 pp
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+17.6 pp
+35.7 pp
+4.5 pp
+2.6 pp
−2.5 pp
—
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
—
−7.2 pp
—
−3.5 pp
+3.2 pp
+5.3 pp
—
+5.8 pp
+3.1 pp
+1.1 pp
+0.5 pp
−3.2 pp
−3.8 pp
−4.6 pp
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
−0.5 pp
—
+1.7 pp
+6.7 pp
+5.5 pp
—
Shilpa Medicare Ltd · SHILPAMED
—
—
—
—
−0.1 pp
—
−5.6 pp
—
−0.2 pp
—
+5.7 pp
—
+4.3 pp
+4.1 pp
+2.0 pp
+0.7 pp
+1.7 pp
+0.5 pp
+3.6 pp
—
07 · compare level, then change
Valuation Against Growth & Quality
Supriya Lifescience Ltd has the lowest Guarded PEG among the 24 Pharma - API & CRAMS companies compared here, at 0.55×. IOL Chemicals & Pharmaceuticals Ltd is next at 0.66×. Windlas Biotech Ltd has the lowest P/E at 26.6×, so level and change sit with different companies. 15 of 24 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Supriya Lifescience Ltd has the lowest comparable Guarded PEG at 0.55×, 16.7% below IOL Chemicals & Pharmaceuticals Ltd. Only 15 of 24 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderSupriya Lifescience Ltd · 0.55×
Gap16.7% versus #2 · IOL Chemicals & Pharmaceuticals Ltd
Persistence0/8 recent comparable periods
Coverage15/24 companies · 74 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Supriya Lifescience Ltd SUPRIYA0.6
2IOL Chemicals & Pharmaceuticals Ltd IOLCP0.7
3Neuland Laboratories Ltd NEULANDLAB1.1
4Jubilant Pharmova Ltd JUBLPHARMA1.2
5Granules India Ltd GRANULES1.3
P/Elowest P/E
1Windlas Biotech Ltd WINDLAS⚠ unverified26.6
2Dishman Carbogen Amcis Ltd DCAL29.0
3IOL Chemicals & Pharmaceuticals Ltd IOLCP30.0
4Granules India Ltd GRANULES31.8
5Supriya Lifescience Ltd SUPRIYA32.3
Valuation · company comparison
15/24 level · 22/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Anthem Biosciences Ltd ANTHEM | 12.2 | 71.0 | Jun 2026 |
| Piramal Pharma Ltd PPLPHARMA | 11.2 | 307.1 | Mar 2026 |
| Shilpa Medicare Ltd SHILPAMED | 6.9 | 38.1 | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | 3.5 | 60.9 | Mar 2026 |
| Hikal Ltd HIKAL | 3.4 | 76.8 | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | 3.3 | 87.5 | Jun 2026 |
| Divis Laboratories Ltd DIVISLAB | 2.8 | 62.9 | Mar 2026 |
| Dishman Carbogen Amcis Ltd DCAL | 2.7 | 17.0 | Mar 2026 |
| Concord Biotech Ltd CONCORDBIO | 2.1 | 33.7 | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | 1.7 | 26.0 | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | 1.5 | 39.4 | Mar 2026 |
| Gland Pharma Ltd GLAND | 1.5 | 32.9 | Mar 2026 |
| Blue Jet Healthcare Ltd BLUEJET | 1.4 | 20.3 | Mar 2026 |
| Granules India Ltd GRANULES | 1.3 | 31.0 | Jun 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | 1.2 | 29.1 | Mar 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | 1.1 | -276.6 | Jun 2026 |
| Neuland Laboratories Ltd NEULANDLAB | 1.1 | 86.4 | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | 0.7 | 18.4 | Mar 2026 |
| Supriya Lifescience Ltd SUPRIYA | 0.6 | 25.5 | Mar 2026 |
| Syngene International Ltd 539268 | — | 40.9 | Mar 2026 |
| Acutaas Chemicals Ltd 543349 | — | 75.8 | Jun 2026 |
| OneSource Specialty Pharma Ltd ONESOURCE | — | 684.8 | Jun 2026 |
| Cohance Lifesciences Ltd COHANCE | — | 31.6 | Mar 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | — | 24.1 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
12.2
—
—
—
Blue Jet Healthcare Ltd · BLUEJET
—
—
—
—
—
—
—
—
—
—
—
—
2.5
5.7
1.4
—
—
—
—
—
Concord Biotech Ltd · CONCORDBIO
—
—
—
—
—
—
—
—
—
—
—
5.8
3.8
1.8
7.5
2.1
—
—
—
—
Divis Laboratories Ltd · DIVISLAB
2.3
2.7
—
0.7
0.7
0.8
—
—
—
—
—
—
6.5
2.2
1.5
2.2
1.7
—
2.8
—
Gland Pharma Ltd · GLAND
2.1
1.9
4.8
1.7
3.6
—
—
—
—
—
—
—
—
—
—
—
6.3
2.4
1.5
—
Granules India Ltd · GRANULES
—
—
—
—
—
0.6
0.8
0.5
3.5
—
—
—
2.0
1.2
1.4
1.4
—
—
0.9
1.3
Jubilant Pharmova Ltd · JUBLPHARMA
—
—
—
—
—
—
—
—
—
—
—
—
—
1.2
—
—
—
—
—
—
Laurus Labs Ltd · LAURUSLABS
—
—
3.0
—
—
0.7
—
—
—
—
—
—
—
—
—
—
—
—
3.3
—
Neuland Laboratories Ltd · NEULANDLAB
—
—
2.4
—
—
—
—
—
—
—
—
0.6
1.1
—
—
—
—
—
—
—
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
—
—
—
—
—
—
—
—
—
11.2
—
—
—
—
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
—
—
3.7
2.7
—
—
—
3.5
—
Shilpa Medicare Ltd · SHILPAMED
—
6.9
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
P/E · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
74.9
62.2
51.5
43.6
45.5
47.1
41.9
55.6
51.0
54.6
57.6
70.2
104.5
94.3
80.3
58.9
58.8
60.4
72.6
75.8
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
94.2
70.7
73.2
71.0
Cohance Lifesciences Ltd · COHANCE
36.6
31.5
34.3
26.7
25.2
29.2
31.7
30.1
33.7
42.6
46.5
68.1
115.7
94.7
69.7
48.2
48.1
36.9
31.6
—
Divis Laboratories Ltd · DIVISLAB
66.2
58.1
46.0
33.0
31.7
30.3
31.3
52.2
67.7
77.9
66.1
76.3
86.5
85.0
74.2
80.7
65.5
68.7
62.9
—
Gland Pharma Ltd · GLAND
63.1
56.7
44.2
35.8
31.6
25.2
21.1
21.4
35.3
43.2
43.8
38.9
40.7
43.1
37.2
42.0
41.9
34.5
32.9
—
Granules India Ltd · GRANULES
14.3
17.5
18.4
15.4
20.4
16.3
14.1
14.1
19.8
24.9
26.4
29.5
27.4
29.1
24.6
25.1
26.2
29.3
27.9
31.0
Laurus Labs Ltd · LAURUSLABS
31.1
28.6
35.4
30.3
32.9
23.2
17.2
25.0
37.7
63.0
112.4
141.5
168.9
241.4
165.3
133.9
88.3
85.6
64.5
87.5
Neuland Laboratories Ltd · NEULANDLAB
26.6
27.1
23.7
21.1
26.9
25.7
23.0
22.2
22.0
25.5
25.6
32.0
51.2
66.6
64.5
77.7
136.0
98.2
86.4
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-1,115.8
—
527.6
150.3
540.0
684.8
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
—
-43.8
—
-101.0
-551.0
957.0
683.6
719.7
578.5
561.9
294.0
288.8
307.1
—
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
—
—
113.2
93.2
66.1
62.9
66.2
60.9
—
Syngene International Ltd · 539268
65.3
61.7
57.4
54.1
53.9
54.9
55.0
66.1
66.7
55.9
55.5
55.0
74.5
74.2
61.2
54.8
48.4
56.3
40.9
—
08 · compare level, then change
Enterprise Value & Book Value
Dishman Carbogen Amcis Ltd has the lowest EV/EBITDA among the 24 Pharma - API & CRAMS companies compared here, at 6.9×. IOL Chemicals & Pharmaceuticals Ltd is next at 8.7×. The same company also holds the lowest P/BV, at 0.43×. 24 of 24 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Dishman Carbogen Amcis Ltd leads both ev/ebitda at 6.9× and p/bv at 0.43×.
LeaderDishman Carbogen Amcis Ltd · 6.9×
Gap20.7% versus #2 · IOL Chemicals & Pharmaceuticals Ltd
Persistence0/8 recent comparable periods
Coverage24/24 companies · 392 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Dishman Carbogen Amcis Ltd DCAL6.9
2IOL Chemicals & Pharmaceuticals Ltd IOLCP8.7
3Hikal Ltd HIKAL10.6
4Jubilant Pharmova Ltd JUBLPHARMA11.9
5Morepen Laboratories Ltd MOREPENLAB13.1
P/BVlowest P/BV
1Dishman Carbogen Amcis Ltd DCAL0.4
2Solara Active Pharma Sciences Ltd SOLARA1.4
3Jubilant Pharmova Ltd JUBLPHARMA2.2
4Hikal Ltd HIKAL2.2
5Morepen Laboratories Ltd MOREPENLAB2.4
Enterprise and book valuation · company comparison
24/24 level · 24/24 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| OneSource Specialty Pharma Ltd ONESOURCE | 60.3 | 3.1 | Jun 2026 |
| Acutaas Chemicals Ltd 543349 | 51.4 | 16.3 | Jun 2026 |
| Neuland Laboratories Ltd NEULANDLAB | 45.6 | 9.6 | Mar 2026 |
| Laurus Labs Ltd LAURUSLABS | 43.9 | 14.8 | Jun 2026 |
| Anthem Biosciences Ltd ANTHEM | 43.8 | 14.2 | Jun 2026 |
| Divis Laboratories Ltd DIVISLAB | 40.7 | 10.3 | Mar 2026 |
| Sai Life Sciences Ltd SAILIFE | 32.0 | 9.2 | Mar 2026 |
| Concord Biotech Ltd CONCORDBIO | 21.8 | 5.8 | Mar 2026 |
| SMS Pharmaceuticals Ltd SMSPHARMA | 21.4 | 5.0 | Mar 2026 |
| Cohance Lifesciences Ltd COHANCE | 19.7 | 3.1 | Mar 2026 |
| Piramal Pharma Ltd PPLPHARMA | 18.1 | 2.4 | Mar 2026 |
| Shilpa Medicare Ltd SHILPAMED | 18.0 | 2.8 | Mar 2026 |
| Solara Active Pharma Sciences Ltd SOLARA | 17.4 | 1.6 | Jun 2026 |
| Supriya Lifescience Ltd SUPRIYA | 16.8 | 4.4 | Mar 2026 |
| Granules India Ltd GRANULES | 16.4 | 5.0 | Jun 2026 |
| Syngene International Ltd 539268 | 16.3 | 3.5 | Mar 2026 |
| Gland Pharma Ltd GLAND | 15.2 | 3.0 | Mar 2026 |
| Blue Jet Healthcare Ltd BLUEJET | 13.8 | 4.8 | Mar 2026 |
| Windlas Biotech Ltd WINDLAS⚠ unverified | 13.2 | 3.0 | Mar 2026 |
| Morepen Laboratories Ltd MOREPENLAB | 13.1 | 1.7 | Mar 2026 |
| Jubilant Pharmova Ltd JUBLPHARMA | 11.9 | 2.0 | Mar 2026 |
| Hikal Ltd HIKAL | 10.6 | 1.6 | Mar 2026 |
| IOL Chemicals & Pharmaceuticals Ltd IOLCP | 8.7 | 1.3 | Mar 2026 |
| Dishman Carbogen Amcis Ltd DCAL | 6.9 | 0.3 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
59.0
46.5
38.2
31.2
30.2
31.6
28.0
35.7
32.4
30.4
30.5
38.5
54.7
55.2
47.9
38.2
38.2
40.0
49.3
51.4
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
55.9
41.4
41.3
43.8
Cohance Lifesciences Ltd · COHANCE
26.5
22.5
23.5
17.2
15.7
18.1
19.9
20.2
22.7
28.8
30.8
43.9
68.2
55.4
41.0
41.7
39.5
27.4
19.7
—
Divis Laboratories Ltd · DIVISLAB
43.1
38.5
32.5
23.9
23.5
22.3
21.8
34.0
40.6
45.0
38.4
46.3
53.0
52.3
47.4
52.0
42.5
45.5
40.7
—
Gland Pharma Ltd · GLAND
41.8
37.9
29.3
23.4
19.7
15.0
12.1
11.4
19.0
23.6
21.8
17.5
18.8
18.6
15.9
18.8
18.9
15.2
15.2
—
Granules India Ltd · GRANULES
9.5
11.2
11.4
9.4
12.2
9.8
8.7
8.5
11.1
13.4
13.8
14.8
14.6
15.4
13.2
13.6
13.9
15.7
15.2
16.4
Laurus Labs Ltd · LAURUSLABS
20.2
18.5
22.0
18.6
19.8
14.0
10.2
13.6
17.7
24.0
27.9
31.4
34.0
43.0
39.3
37.7
35.2
38.0
31.7
43.9
Neuland Laboratories Ltd · NEULANDLAB
13.7
13.8
11.0
10.4
13.2
13.5
13.1
13.7
13.6
15.9
16.4
20.3
32.4
40.8
38.9
45.1
68.9
55.6
45.6
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
69.1
53.0
41.3
40.7
43.1
60.3
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
15.1
9.9
17.3
19.1
20.6
16.9
18.3
22.6
24.2
21.3
18.9
18.4
19.5
18.1
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
—
—
52.0
41.2
38.2
34.2
32.8
32.0
—
Syngene International Ltd · 539268
33.7
31.9
29.1
27.2
27.0
26.9
26.1
31.1
31.0
25.6
25.4
26.1
33.6
32.9
27.1
23.2
21.2
23.9
16.3
—
P/BV · reported quarter history
Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Acutaas Chemicals Ltd · 543349
—
7.5
6.2
6.2
6.1
6.5
6.2
8.9
7.6
6.6
6.4
7.9
9.4
7.7
8.3
12.4
8.5
9.6
14.7
16.3
Anthem Biosciences Ltd · ANTHEM
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
15.5
13.3
13.4
14.2
Cohance Lifesciences Ltd · COHANCE
11.7
9.2
11.2
10.3
7.6
8.4
7.9
8.1
9.4
9.5
8.9
11.8
14.4
15.0
14.8
11.7
13.0
5.4
3.1
—
Divis Laboratories Ltd · DIVISLAB
14.6
12.5
11.9
10.5
8.1
7.5
6.4
8.1
7.8
8.2
7.2
9.6
10.7
11.4
11.2
13.0
10.1
11.1
10.3
—
Gland Pharma Ltd · GLAND
10.7
9.6
8.0
7.3
4.5
3.4
2.9
2.4
3.5
3.8
3.7
3.8
3.4
3.4
3.0
3.4
3.5
2.9
3.0
—
Granules India Ltd · GRANULES
3.7
3.5
3.4
2.9
3.3
3.0
2.8
2.9
3.0
3.3
3.5
4.2
4.2
4.1
3.4
3.7
3.4
3.8
3.8
5.0
Laurus Labs Ltd · LAURUSLABS
12.6
9.6
10.6
7.5
7.3
5.4
4.7
4.9
5.3
5.8
5.2
5.6
6.1
7.7
8.0
8.5
10.0
12.2
11.3
14.8
Neuland Laboratories Ltd · NEULANDLAB
2.5
2.5
1.7
1.7
2.0
2.4
2.8
4.3
4.8
6.0
7.2
9.7
12.8
12.6
11.1
12.1
11.8
11.9
9.6
—
OneSource Specialty Pharma Ltd · ONESOURCE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
3.4
4.3
3.5
3.5
2.8
3.1
Piramal Pharma Ltd · PPLPHARMA
—
—
—
—
—
2.0
1.3
1.8
2.0
2.4
2.2
3.0
3.7
4.3
3.8
3.4
3.1
2.9
2.4
—
Sai Life Sciences Ltd · SAILIFE
—
—
—
—
—
—
—
—
—
—
—
—
—
—
7.5
7.6
8.7
8.4
9.2
—
Syngene International Ltd · 539268
9.1
8.3
7.7
8.1
6.9
7.2
7.2
9.3
8.9
7.2
7.3
7.9
8.3
7.8
6.7
6.1
5.2
5.6
3.5
—
09 · let price answer last
Market action
Acutaas Chemicals Ltd has the strongest one-year price move in Pharma - API & CRAMS at +200.8%. It also leads on Mansfield relative strength against NIFTY at +71.1%. 18 of 24 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Pharma - API & CRAMS comparison names 6 specific ways its own evidence can mislead, all listed below. All 24 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 1 has second-feed figures withheld because the two sources disagree.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
10 · the complete set
Which companies are included?
All 24 companies in the canonical Pharma - API & CRAMS membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. 1 of these is no longer being priced, so its price and relative strength are frozen at the last traded week shown.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| Divis Laboratories Ltd DIVISLABAHEAD20/26 WEEKS | ₹1.9 L Cr | ₹7,248 | 2026-07-19 | Mar 2026 | Cross-checked |
| Laurus Labs Ltd LAURUSLABSAHEAD24/26 WEEKS | ₹86.5K Cr | ₹1,601 | 2026-07-19 | Jun 2026 | Cross-checked |
| Anthem Biosciences Ltd ANTHEM23/26 WEEKS | ₹43.4K Cr | ₹770 | 2026-07-19 | Jun 2026 | Cross-checked |
| Gland Pharma Ltd GLANDAHEAD23/26 WEEKS | ₹39.3K Cr | ₹2,380 | 2026-07-19 | Mar 2026 | Cross-checked |
| Acutaas Chemicals Ltd 543349 | ₹26.7K Cr | ₹3,260 | 2026-07-19 | Jun 2026 | Primary source only |
| Sai Life Sciences Ltd SAILIFEAHEAD24/26 WEEKS | ₹26.2K Cr | ₹1,233 | 2026-07-19 | Mar 2026 | Cross-checked |
| Piramal Pharma Ltd PPLPHARMAAHEAD | ₹24.1K Cr | ₹181 | 2026-07-19 | Mar 2026 | Cross-checked |
| Neuland Laboratories Ltd NEULANDLABAHEAD | ₹23.8K Cr | ₹18,546 | 2026-07-19 | Mar 2026 | Cross-checked |
| Granules India Ltd GRANULESAHEAD25/26 WEEKS | ₹20.7K Cr | ₹834 | 2026-07-19 | Jun 2026 | Cross-checked |
| OneSource Specialty Pharma Ltd ONESOURCE | ₹19.0K Cr | ₹1,654 | 2026-07-19 | Jun 2026 | Cross-checked |
| Syngene International Ltd 539268 | ₹16.7K Cr | ₹414 | 2026-03-08 · not currently priced | Mar 2026 | Primary source only |
| Cohance Lifesciences Ltd COHANCEAHEAD | ₹16.0K Cr | ₹417 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Jubilant Pharmova Ltd JUBLPHARMA | ₹15.4K Cr | ₹965 | 2026-07-19 | Mar 2026 | Cross-checked |
| Concord Biotech Ltd CONCORDBIOAHEAD | ₹13.1K Cr | ₹1,248 | 2026-07-19 | Mar 2026 | Cross-checked |
| Shilpa Medicare Ltd SHILPAMEDAHEAD22/26 WEEKS | ₹11.9K Cr | ₹606 | 2026-07-19 | Mar 2026 | Cross-checked |
| Blue Jet Healthcare Ltd BLUEJETAHEAD | ₹10.7K Cr | ₹567 | 2026-07-19 | Mar 2026 | Cross-checked |
| Supriya Lifescience Ltd SUPRIYAAHEAD | ₹6.8K Cr | ₹840 | 2026-07-19 | Mar 2026 | Cross-checked |
| IOL Chemicals & Pharmaceuticals Ltd IOLCPAHEAD18/26 WEEKS | ₹4.4K Cr | ₹149 | 2026-07-19 | Mar 2026 | Cross-checked |
| SMS Pharmaceuticals Ltd SMSPHARMA18/26 WEEKS | ₹3.6K Cr | ₹381 | 2026-07-19 | Mar 2026 | Cross-checked |
| Morepen Laboratories Ltd MOREPENLABAHEAD19/26 WEEKS | ₹2.9K Cr | ₹53.8 | 2026-07-19 | Mar 2026 | Cross-checked |
| Dishman Carbogen Amcis Ltd DCALAHEADLAGGING, FUNDAMENTALS UP | ₹2.9K Cr | ₹184 | 2026-07-19 | Mar 2026 | Cross-checked |
| Hikal Ltd HIKALAHEAD | ₹2.7K Cr | ₹217 | 2026-07-19 | Mar 2026 | Cross-checked |
| Solara Active Pharma Sciences Ltd SOLARA | ₹2.4K Cr | ₹492 | 2026-07-19 | Jun 2026 | Cross-checked |
| Windlas Biotech Ltd WINDLAS22/26 WEEKS⚠ unverified | ₹1.8K Cr | ₹858 | 2026-07-19 | Mar 2026 | Includes unverified figures |
How each company's sources stand: 1 of 24 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 1 of 24 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Cohance Lifesciences Ltd (COHANCE) — its two data sources disagree by up to 129% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 24 Pharma - API & CRAMS companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing20 cross-checked · 3 unverified · 1 withheld, of 24 graded companies.
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.
Questions investors ask · short, speakable answers
Pharma - API & CRAMS company comparison FAQs
These 18 answers restate the Pharma - API & CRAMS comparison above in question form. Every one is computed from the same 24 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Pharma - API & CRAMS index?
The Nifty Pharma - API & CRAMS index tracks India's listed Pharma - API & CRAMS companies as a single basket. This page follows the same 24 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Pharma - API & CRAMS sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Pharma - API & CRAMS stocks in India?
Ranked by this page's four-factor score, Acutaas Chemicals Ltd places first among 24 listed Pharma - API & CRAMS companies, followed by Neuland Laboratories Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Pharma - API & CRAMS stocks are listed in India?
This comparison covers 24 listed Pharma - API & CRAMS companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Pharma - API & CRAMS company is the biggest?
Divis Laboratories Ltd is the largest, with trailing-twelve-month revenue of ₹10,560 crore, ahead of Piramal Pharma Ltd at ₹8,869 crore. That covers 24 of 24 companies with comparable reporting through Mar 2026.
Which Pharma - API & CRAMS company is growing fastest?
Neuland Laboratories Ltd has the fastest revenue growth at 37% year on year, across 24 of 24 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Pharma - API & CRAMS company has the best profit margins?
Neuland Laboratories Ltd has the highest operating margin at 40%, from 24 of 24 comparable companies. Neuland Laboratories Ltd shows the biggest recent improvement, at +24 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Pharma - API & CRAMS company makes the most profit?
Divis Laboratories Ltd earns the most, at ₹2,568 crore of trailing-twelve-month net profit, from 24 of 24 comparable companies. Acutaas Chemicals Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Pharma - API & CRAMS company earns the highest return on capital?
Acutaas Chemicals Ltd leads on return on capital employed at 31.6%, across 24 of 24 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Pharma - API & CRAMS stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Supriya Lifescience Ltd screens cheapest at 0.55×. Only 15 of 24 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Pharma - API & CRAMS company has the strongest balance sheet?
Concord Biotech Ltd carries the lowest comparable gross debt at ₹2 crore, from 24 of 24 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Pharma - API & CRAMS stock has the strongest price momentum?
Acutaas Chemicals Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Pharma - API & CRAMS company scores highest for research priority?
Acutaas Chemicals Ltd scores 75.9 out of 100 with 83.2% evidence confidence, from 32 points on growth and earnings, 20.3 on capital efficiency, 7.3 on valuation and 16.3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Pharma - API & CRAMS companies does this comparison cover, and over what period?
It compares 24 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Pharma - API & CRAMS sector?
The 24 Pharma - API & CRAMS companies on this page carry ₹6,12,982 crore of combined market value. Divis Laboratories Ltd is the largest at ₹1,92,425 crore, about 31% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
What is the Pharma - API & CRAMS sector's P/E ratio?
The median price-to-earnings ratio across the 24 Pharma - API & CRAMS companies on this page is 50.8×, measured on the 22 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.
How is the Pharma - API & CRAMS sector performing?
18 of the 24 covered Pharma - API & CRAMS companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.