Is the Pharma - Formulators sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 34 of 40 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Pharma - Formulators Stocks in India
Pharma - Formulators: Sun Pharmaceutical Industries Ltd owns the largest revenue base; Rubicon Research Ltd has the fastest current growth.
Nifty Pharma - Formulators Index — Constituents & Performance
The Pharma - Formulators companies below are the listed Indian Pharma - Formulators universe this page tracks — the same constituent set people search for as the Nifty Pharma - Formulators 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 - Formulators moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 46% ahead of NIFTY 500. Earnings across its companies grew 7% on average over the last four reported quarters — close to flat. It has been ahead of NIFTY 500 on a rolling three-month view for 26 weeks running.
LEADER · ahead 26w✓Price up, without the fundamentals confirming32 of 40 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 ↑26w · 35/40 >200d (+1) · 32/40 lead (+11) · EPS 25/38↑
Pharma - Formulators, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
Broadening down the ladderHow much of the sector is participating, how recently, and whether the movers score well.
Together32 of 40 stocks moving
Fresh11 crossed in the last 4 weeks
Backed by scoresmovers score +0 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
6/8+3
Mid
11/14+7
Small
15/18+1
Participation is spreading downward — the mid and small companies added more this month than the large ones did.
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 40 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 - Formulators outperforming NIFTY 500?
The 52-week comparison of Pharma - Formulators against NIFTY 500 is not available from the current market series. 34 of 40 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Bliss GVS Pharma Ltd is the strongest against the sector itself at +75.4%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
34/40Stocks leading NIFTY 500
14/40Stocks leading sector
Sector metric: 31.3 as of 2026-07-19 · NARROWING · rising.
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. 34 of 40 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Sun Pharmaceutical Industries Ltd leads with revenue of ₹58,462 crore, based on 41 of 43 comparable companies through Mar 2026. Rubicon Research Ltd has the fastest current revenue growth at 36.6%, across 39 of 43 comparable companies.
Which Pharma - Formulators company is largest by revenue?
Sun Pharmaceutical Industries Ltd leads with revenue of ₹58,462 crore, based on 41 of 43 comparable companies through Mar 2026.
Which Pharma - Formulators company is growing fastest?
Rubicon Research Ltd has the fastest current revenue growth at 36.6%, across 39 of 43 comparable companies.
Which Pharma - Formulators company has the strongest 4-Factor Sector Score?
Lupin Ltd ranks first at 73.1/100 with 88.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Pharma - Formulators company reports the most CAPEX?
Dr Reddys Laboratories Ltd reports the largest latest CAPEX at ₹454 crore, with 7 of 43 companies comparable.
Which Pharma - Formulators company has the least gross debt?
Influx Healthtech Ltd has the lowest comparable gross debt at ₹0 crore. Biocon Ltd has the highest at ₹15,434 crore.
Which Pharma - Formulators company has the lowest comparable PEG?
Lupin Ltd has the lowest comparable Guarded PEG at 0.54, among 21 of 43 companies that pass the metric’s comparability rules.
How much history does this Pharma - Formulators 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
43
complete canonical membership
Combined market value
₹18.5 L Cr
Sun Pharmaceutical Industries Ltd
Revenue growing
35/39
positive TTM year-on-year growth
Beating NIFTY 500
34/40
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%
Lupin Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 88.6% evidence confidence.
Natco Pharma Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
RPG Life Sciences Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
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. Lupin Ltd · LUPIN
73.1/100 · Favorable setup · 89% evidence
Exact sum: 30.1 + 19.4 + 16.3 + 7.3 = 73.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
30.1/35Growth & earnings
Revenue 23.1% · PAT 62% · OPM change 10 pp
88% evidence
19.4/25Capital efficiency
ROCE 29.9% · debt/equity 0.29×
100% evidence
16.3/20Valuation
P/E 19.1× · PEG 0.54
65% evidence
7.3/20Relative strength
RS sector -7.2% · RS bench 11.8% · 1Y 26.4%
100% evidence
2. Kwality Pharmaceuticals Ltd · 539997
71.3/100 · Favorable setup · 79% evidence
Exact sum: 29 + 16.5 + 6.5 + 19.3 = 71.3
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
29.0/35Growth & earnings
Revenue 35.7% · PAT 71.8% · OPM change 3 pp
83% evidence
16.5/25Capital efficiency
ROCE 24.2% · debt/equity 0.39×
80% evidence
6.5/20Valuation
P/E 42.5× · PEG —
50% evidence
19.3/20Relative strength
RS sector 61.1% · RS bench 89.3% · 1Y 131.8%
100% evidence
3. Caplin Point Laboratories Ltd · CAPLIPOINT
70.3/100 · Favorable setup · 96% evidence
Exact sum: 20.1 + 19.8 + 12.3 + 18.1 = 70.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.1/35Growth & earnings
Revenue 12.9% · PAT 20.1% · OPM change 1 pp
88% evidence
19.8/25Capital efficiency
ROCE 24.6% · debt/equity 0×
100% evidence
12.3/20Valuation
P/E 29.2× · PEG 0.99
100% evidence
18.1/20Relative strength
RS sector 8.7% · RS bench 30.7% · 1Y 24.3%
100% evidence
4. Bliss GVS Pharma Ltd · BLISSGVS
69.5/100 · Favorable setup · 79% evidence
Exact sum: 27.4 + 15.2 + 6.9 + 20 = 69.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27.4/35Growth & earnings
Revenue 14.3% · PAT 48.4% · OPM change 6 pp
83% evidence
15.2/25Capital efficiency
ROCE 16.9% · debt/equity 0.02×
80% evidence
6.9/20Valuation
P/E 37.4× · PEG —
50% evidence
20.0/20Relative strength
RS sector 75.4% · RS bench 105% · 1Y 200.8%
100% evidence
5. Glenmark Pharmaceuticals Ltd · GLENMARK
66.8/100 · Favorable setup · 96% evidence
Exact sum: 28.4 + 20.2 + 12.4 + 5.8 = 66.8
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -11.7% and the one-year return is 0.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
28.4/35Growth & earnings
Revenue 27.5% · PAT 30.1% · OPM change 3 pp
88% evidence
20.2/25Capital efficiency
ROCE 39.8% · debt/equity 0.06×
100% evidence
12.4/20Valuation
P/E 21× · PEG 1.43
100% evidence
5.8/20Relative strength
RS sector -11.7% · RS bench 6.4% · 1Y 0.4%
100% evidence
6. Ipca Laboratories Ltd · IPCALAB
65.2/100 · Favorable setup · 79% evidence
Exact sum: 22.8 + 16.1 + 10.9 + 15.4 = 65.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.8/35Growth & earnings
Revenue 7.9% · PAT 51% · OPM change 1 pp
83% evidence
16.1/25Capital efficiency
ROCE 17% · debt/equity 0.1×
80% evidence
10.9/20Valuation
P/E 37.9× · PEG —
50% evidence
15.4/20Relative strength
RS sector 5.4% · RS bench 26.7% · 1Y 29.2%
100% evidence
7. Corona Remedies Ltd · CORONA
60.8/100 · Mixed-positive evidence · 69% evidence
Exact sum: 21 + 18.5 + 11.3 + 10 = 60.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21.0/35Growth & earnings
Revenue 16.1% · PAT 17.9% · OPM change 0 pp
88% evidence
18.5/25Capital efficiency
ROCE 33.3% · debt/equity 0.22×
100% evidence
11.3/20Valuation
P/E 64.7× · PEG 1.18
65% evidence
10.0/20Relative strength
RS sector — · RS bench — · 1Y —
0% evidence
8. Emcure Pharmaceuticals Ltd · EMCURE
60.0/100 · Mixed-positive evidence · 72% evidence
Exact sum: 25 + 16.9 + 9.7 + 8.4 = 60
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25.0/35Growth & earnings
Revenue 16.6% · PAT 32.9% · OPM change 0 pp
83% evidence
16.9/25Capital efficiency
ROCE 24% · debt/equity 0.32×
80% evidence
9.7/20Valuation
P/E 37.7× · PEG —
15% evidence
8.4/20Relative strength
RS sector -3.1% · RS bench 16.4% · 1Y 30.4%
100% evidence
9. Zydus Lifesciences Ltd · ZYDUSLIFE
58.9/100 · Mixed-positive evidence · 93% evidence
Exact sum: 17.6 + 15.3 + 13.7 + 12.3 = 58.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.6/35Growth & earnings
Revenue 16.8% · PAT 9.7% · OPM change 1 pp
83% evidence
15.3/25Capital efficiency
ROCE 21.1% · debt/equity 0.46×
95% evidence
13.7/20Valuation
P/E 20.4× · PEG 1.4
100% evidence
12.3/20Relative strength
RS sector -3.1% · RS bench 16.7% · 1Y 17.3%
100% evidence
10. Accent Microcell Ltd · ACCENTMIC
58.9/100 · Mixed-positive evidence · 63% evidence
Exact sum: 17.5 + 18.1 + 9.6 + 13.7 = 58.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.5/35Growth & earnings
Revenue — · PAT — · OPM change -1 pp
26% evidence
18.1/25Capital efficiency
ROCE 24.9% · debt/equity 0×
95% evidence
9.6/20Valuation
P/E 27.1× · PEG —
50% evidence
13.7/20Relative strength
RS sector 20% · RS bench 43.1% · 1Y 86%
100% evidence
11. Marksans Pharma Ltd · MARKSANS
58.7/100 · Mixed-positive evidence · 83% evidence
Exact sum: 20.1 + 17.9 + 11.6 + 9.1 = 58.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.1/35Growth & earnings
Revenue 12.5% · PAT 9.7% · OPM change 5 pp
88% evidence
17.9/25Capital efficiency
ROCE 18.8% · debt/equity 0.11×
100% evidence
11.6/20Valuation
P/E 26.7× · PEG 1.41
65% evidence
9.1/20Relative strength
RS sector -18.1% · RS bench 36.4% · 1Y 4.4%
70% evidence
12. Rubicon Research Ltd · RUBICON
58.4/100 · Mixed-positive evidence · 69% evidence
Exact sum: 23.7 + 19.7 + 5 + 10 = 58.4
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
23.7/35Growth & earnings
Revenue 36.6% · PAT 84.3% · OPM change 3 pp
88% evidence
19.7/25Capital efficiency
ROCE 28.4% · debt/equity 0.24×
100% evidence
5.0/20Valuation
P/E 102× · PEG 2.7
65% evidence
10.0/20Relative strength
RS sector — · RS bench — · 1Y —
0% evidence
13. Ajanta Pharma Ltd · AJANTPHARM
58.0/100 · Mixed-positive evidence · 96% evidence
Exact sum: 19.1 + 20.3 + 5.1 + 13.5 = 58
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
19.1/35Growth & earnings
Revenue 17.3% · PAT 14.8% · OPM change -2 pp
88% evidence
20.3/25Capital efficiency
ROCE 34.5% · debt/equity 0.06×
100% evidence
5.1/20Valuation
P/E 37.3× · PEG 2.54
100% evidence
13.5/20Relative strength
RS sector 0.8% · RS bench 21.1% · 1Y 23.3%
100% evidence
14. Wockhardt Ltd · WOCKPHARMA
58.0/100 · Mixed-positive evidence · 68% evidence
Exact sum: 22.4 + 9.7 + 8.7 + 17.2 = 58
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.4/35Growth & earnings
Revenue 12% · PAT 100% · OPM change 14 pp
62% evidence
9.7/25Capital efficiency
ROCE 7.5% · debt/equity 0.45×
95% evidence
8.7/20Valuation
P/E 106× · PEG —
15% evidence
17.2/20Relative strength
RS sector 5.8% · RS bench 26.8% · 1Y 7.1%
100% evidence
15. Amrutanjan Health Care Ltd · AMRUTANJAN
57.0/100 · Mixed-positive evidence · 77% evidence
Exact sum: 21.3 + 17.9 + 14.2 + 3.6 = 57
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21.3/35Growth & earnings
Revenue 11.3% · PAT 11.8% · OPM change 4 pp
83% evidence
17.9/25Capital efficiency
ROCE 24.8% · debt/equity 0.01×
95% evidence
14.2/20Valuation
P/E 22.8× · PEG —
50% evidence
3.6/20Relative strength
RS sector -24.6% · RS bench -15.2% · 1Y -22.1%
70% evidence
16. RPG Life Sciences Ltd · RPGLIFE
56.7/100 · Mixed-positive evidence · 89% evidence
Exact sum: 12 + 17.9 + 10.1 + 16.7 = 56.7
Decision use: Price leads the evidence: RS versus the benchmark is 26.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
12.0/35Growth & earnings
Revenue 8.4% · PAT -37.2% · OPM change 1 pp
88% evidence
17.9/25Capital efficiency
ROCE 25.7% · debt/equity 0.03×
100% evidence
10.1/20Valuation
P/E 44.3× · PEG 1.43
65% evidence
16.7/20Relative strength
RS sector 4.6% · RS bench 26.3% · 1Y 14%
100% evidence
17. Akums Drugs & Pharmaceuticals Ltd · AKUMS
54.0/100 · Mixed-positive evidence · 72% evidence
Exact sum: 14.1 + 12.7 + 9.5 + 17.7 = 54
Decision use: Price leads the evidence: RS versus the benchmark is 33.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
14.1/35Growth & earnings
Revenue 5.9% · PAT -25.3% · OPM change 4 pp
83% evidence
12.7/25Capital efficiency
ROCE 14.9% · debt/equity 0.05×
80% evidence
9.5/20Valuation
P/E 40.3× · PEG —
15% evidence
17.7/20Relative strength
RS sector 11.4% · RS bench 33.4% · 1Y 20.3%
100% evidence
18. Alkem Laboratories Ltd · ALKEM
53.8/100 · Mixed-positive evidence · 79% evidence
Exact sum: 20.3 + 16.4 + 12.4 + 4.7 = 53.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.3/35Growth & earnings
Revenue 13.5% · PAT 6.1% · OPM change 2 pp
83% evidence
16.4/25Capital efficiency
ROCE 21.2% · debt/equity 0.15×
80% evidence
12.4/20Valuation
P/E 27.6× · PEG —
50% evidence
4.7/20Relative strength
RS sector -16.8% · RS bench 0.6% · 1Y 11.3%
100% evidence
19. FDC Ltd · FDC
53.7/100 · Mixed-positive evidence · 90% evidence
Exact sum: 17 + 16.4 + 14.9 + 5.4 = 53.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.0/35Growth & earnings
Revenue 3% · PAT 4.9% · OPM change 7 pp
88% evidence
16.4/25Capital efficiency
ROCE 16.7% · debt/equity 0.01×
100% evidence
14.9/20Valuation
P/E 22.6× · PEG 0.93
100% evidence
5.4/20Relative strength
RS sector -25.2% · RS bench 1.9% · 1Y -14.2%
70% evidence
20. Kilitch Drugs (India) Ltd · KILITCH
53.7/100 · Mixed-positive evidence · 83% evidence
Exact sum: 19 + 11.2 + 14.2 + 9.3 = 53.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.0/35Growth & earnings
Revenue 19.8% · PAT 16% · OPM change 1 pp
83% evidence
11.2/25Capital efficiency
ROCE 14.4% · debt/equity 0.32×
95% evidence
14.2/20Valuation
P/E 20.9× · PEG —
50% evidence
9.3/20Relative strength
RS sector -14.6% · RS bench 3.3% · 1Y -17.4%
100% evidence
21. ERIS Lifesciences Ltd · ERIS
51.3/100 · Mixed-positive evidence · 73% evidence
Exact sum: 22.5 + 12.8 + 10.5 + 5.5 = 51.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.5/35Growth & earnings
Revenue 8.2% · PAT 72.5% · OPM change 0 pp
83% evidence
12.8/25Capital efficiency
ROCE 14.1% · debt/equity 0.6×
80% evidence
10.5/20Valuation
P/E 30.7× · PEG —
50% evidence
5.5/20Relative strength
RS sector -13.9% · RS bench -4.3% · 1Y -17.4%
70% evidence
22. J B Chemicals & Pharmaceuticals Ltd · JBCHEPHARM
48.9/100 · Mixed-negative evidence · 96% evidence
Exact sum: 11.6 + 20.6 + 3.7 + 13 = 48.9
Decision use: Price leads the evidence: RS versus the benchmark is 23.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
11.6/35Growth & earnings
Revenue 5.9% · PAT 7.4% · OPM change -2 pp
88% evidence
20.6/25Capital efficiency
ROCE 25.4% · debt/equity 0×
100% evidence
3.7/20Valuation
P/E 53.8× · PEG 2.34
100% evidence
13.0/20Relative strength
RS sector 2.9% · RS bench 23.5% · 1Y 45.6%
100% evidence
23. Fredun Pharmaceuticals Ltd · 539730
45.9/100 · Thin evidence · provisional · 50% evidence
Exact sum: 19 + 12.8 + 9.3 + 4.8 = 45.9
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19.0/35Growth & earnings
Revenue — · PAT — · OPM change 4 pp
20% evidence
12.8/25Capital efficiency
ROCE 21.3% · debt/equity 0.8×
80% evidence
9.3/20Valuation
P/E 45.4× · PEG —
15% evidence
4.8/20Relative strength
RS sector -48.1% · RS bench 61.3% · 1Y 3.9%
100% evidence
24. Biocon Ltd · BIOCON
44.2/100 · Mixed-negative evidence · 96% evidence
Exact sum: 12.5 + 11.1 + 9.9 + 10.7 = 44.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12.5/35Growth & earnings
Revenue 10.9% · PAT -74.2% · OPM change -1 pp
88% evidence
11.1/25Capital efficiency
ROCE 3.6% · debt/equity 0.45×
100% evidence
9.9/20Valuation
P/E 182× · PEG 0.82
100% evidence
10.7/20Relative strength
RS sector -6.2% · RS bench 13% · 1Y 9.6%
100% evidence
25. Lincoln Pharmaceuticals Ltd · LINCOLN
43.6/100 · Mixed-negative evidence · 83% evidence
Exact sum: 12.1 + 16 + 9.8 + 5.7 = 43.6
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12.1/35Growth & earnings
Revenue 7.5% · PAT 7.2% · OPM change -3 pp
83% evidence
16.0/25Capital efficiency
ROCE 16.3% · debt/equity 0.01×
95% evidence
9.8/20Valuation
P/E 13.2× · PEG —
50% evidence
5.7/20Relative strength
RS sector -13.1% · RS bench 4.4% · 1Y 6.7%
100% evidence
26. Sun Pharmaceutical Industries Ltd · SUNPHARMA
43.5/100 · Mixed-negative evidence · 93% evidence
Exact sum: 13.2 + 17.3 + 3.8 + 9.2 = 43.5
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
13.2/35Growth & earnings
Revenue 11.2% · PAT 5% · OPM change -2 pp
83% evidence
17.3/25Capital efficiency
ROCE 20.5% · debt/equity 0.06×
95% evidence
3.8/20Valuation
P/E 37.5× · PEG 3.8
100% evidence
9.2/20Relative strength
RS sector -8.5% · RS bench 10.3% · 1Y 14.1%
100% evidence
27. Mankind Pharma Ltd · MANKIND
43.1/100 · Mixed-negative evidence · 96% evidence
Exact sum: 17.5 + 14.1 + 4.4 + 7.1 = 43.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17.5/35Growth & earnings
Revenue 17% · PAT -3.7% · OPM change 5 pp
88% evidence
14.1/25Capital efficiency
ROCE 13.5% · debt/equity 0.39×
100% evidence
4.4/20Valuation
P/E 51.4× · PEG 2.81
100% evidence
7.1/20Relative strength
RS sector -12.3% · RS bench 5.9% · 1Y -6.3%
100% evidence
28. Suven Life Sciences Ltd · SUVEN
43.1/100 · Thin evidence · provisional · 57% evidence
Exact sum: 18.1 + 6.9 + 10 + 8.1 = 43.1
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18.1/35Growth & earnings
Revenue 14.3% · PAT -72% · OPM change -350 pp
62% evidence
6.9/25Capital efficiency
ROCE -76.9% · debt/equity 0.03×
84% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
8.1/20Relative strength
RS sector -30.9% · RS bench 57.2% · 1Y 12%
70% evidence
29. Alembic Pharmaceuticals Ltd · APLLTD
42.2/100 · Mixed-negative evidence · 90% evidence
Exact sum: 15.2 + 10.3 + 12 + 4.7 = 42.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15.2/35Growth & earnings
Revenue 10.1% · PAT 15.3% · OPM change -3 pp
88% evidence
10.3/25Capital efficiency
ROCE 12.6% · debt/equity 0.25×
100% evidence
12.0/20Valuation
P/E 21.4× · PEG 1.74
100% evidence
4.7/20Relative strength
RS sector -24.1% · RS bench -1.8% · 1Y -20%
70% evidence
30. Natco Pharma Ltd · NATCOPHARM
42.0/100 · Mixed-negative evidence · 96% evidence
Exact sum: 5.3 + 13.9 + 19.1 + 3.7 = 42
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
5.3/35Growth & earnings
Revenue -8% · PAT -24.6% · OPM change -28 pp
88% evidence
13.9/25Capital efficiency
ROCE 17.1% · debt/equity 0.08×
100% evidence
19.1/20Valuation
P/E 11.6× · PEG 0.76
100% evidence
3.7/20Relative strength
RS sector -16.3% · RS bench 0.7% · 1Y -8.7%
100% evidence
31. Strides Pharma Science Ltd · STAR
41.2/100 · Mixed-negative evidence · 76% evidence
Exact sum: 9.5 + 13.4 + 11.3 + 7 = 41.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9.5/35Growth & earnings
Revenue 6.4% · PAT -80% · OPM change 0 pp
83% evidence
13.4/25Capital efficiency
ROCE 18.3% · debt/equity 0.57×
95% evidence
11.3/20Valuation
P/E 16.6× · PEG —
15% evidence
7.0/20Relative strength
RS sector -5.9% · RS bench 13% · 1Y 21.9%
100% evidence
32. Zim Laboratories Ltd · ZIMLAB
41.2/100 · Mixed-negative evidence · 76% evidence
Exact sum: 6.2 + 7.2 + 8.7 + 19.1 = 41.2
Decision use: Price leads the evidence: RS versus the benchmark is 50.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6.2/35Growth & earnings
Revenue -1.2% · PAT -51.9% · OPM change -6.6 pp
83% evidence
7.2/25Capital efficiency
ROCE 4.8% · debt/equity 0.43×
95% evidence
8.7/20Valuation
P/E 149× · PEG —
15% evidence
19.1/20Relative strength
RS sector 26.2% · RS bench 50.4% · 1Y 5.5%
100% evidence
33. Gufic BioSciences Ltd · GUFICBIO
40.8/100 · Mixed-negative evidence · 90% evidence
Exact sum: 19.7 + 11.4 + 1.9 + 7.8 = 40.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.7/35Growth & earnings
Revenue 15.1% · PAT -8.6% · OPM change 6 pp
88% evidence
11.4/25Capital efficiency
ROCE 12.3% · debt/equity 0.61×
100% evidence
1.9/20Valuation
P/E 59.2× · PEG 4.78
100% evidence
7.8/20Relative strength
RS sector -18.5% · RS bench 13% · 1Y -0.7%
70% evidence
34. Aurobindo Pharma Ltd · AUROPHARMA
40.6/100 · Mixed-negative evidence · 96% evidence
Exact sum: 11.8 + 14 + 4.1 + 10.7 = 40.6
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.8/35Growth & earnings
Revenue 6.1% · PAT 0.6% · OPM change -1 pp
88% evidence
14.0/25Capital efficiency
ROCE 12.8% · debt/equity 0.21×
100% evidence
4.1/20Valuation
P/E 25.1× · PEG 2.67
100% evidence
10.7/20Relative strength
RS sector 0.8% · RS bench 20.9% · 1Y 34.6%
100% evidence
35. Indoco Remedies Ltd · INDOCO
39.5/100 · Thin evidence · provisional · 56% evidence
Exact sum: 20.1 + 4.5 + 10 + 4.9 = 39.5
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20.1/35Growth & earnings
Revenue 10.9% · PAT -27.3% · OPM change 10 pp
62% evidence
4.5/25Capital efficiency
ROCE 0.9% · debt/equity 1.16×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
4.9/20Relative strength
RS sector -32.2% · RS bench 1.5% · 1Y -23.5%
70% evidence
36. Torrent Pharmaceuticals Ltd · TORNTPHARM
38.8/100 · Mixed-negative evidence · 96% evidence
Exact sum: 15.4 + 9.8 + 3.8 + 9.8 = 38.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15.4/35Growth & earnings
Revenue 21.4% · PAT 11.9% · OPM change -1 pp
88% evidence
9.8/25Capital efficiency
ROCE 15.2% · debt/equity 1.79×
100% evidence
3.8/20Valuation
P/E 86.1× · PEG 2.28
100% evidence
9.8/20Relative strength
RS sector -2.2% · RS bench 17.6% · 1Y 35.3%
100% evidence
37. Bajaj Healthcare Ltd · BAJAJHCARE
38.2/100 · Mixed-negative evidence · 87% evidence
Exact sum: 10.1 + 10.4 + 11 + 6.7 = 38.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10.1/35Growth & earnings
Revenue 12.3% · PAT -59.1% · OPM change 1 pp
95% evidence
10.4/25Capital efficiency
ROCE 11.5% · debt/equity 0.47×
95% evidence
11.0/20Valuation
P/E 19.3× · PEG —
50% evidence
6.7/20Relative strength
RS sector -20.8% · RS bench -3.5% · 1Y -28.5%
100% evidence
38. Bharat Parenterals Ltd · 541096
36.1/100 · Thin evidence · provisional · 56% evidence
Exact sum: 13.5 + 5.5 + 10 + 7.1 = 36.1
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13.5/35Growth & earnings
Revenue 1.5% · PAT 37.5% · OPM change -2.7 pp
62% evidence
5.5/25Capital efficiency
ROCE -1.8% · debt/equity 0.45×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
7.1/20Relative strength
RS sector -20.9% · RS bench 11.9% · 1Y -11.6%
70% evidence
39. Cipla Ltd · CIPLA
35.8/100 · Mixed-negative evidence · 100% evidence
Exact sum: 5.6 + 13.7 + 12.1 + 4.4 = 35.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5.6/35Growth & earnings
Revenue 1.8% · PAT -37.7% · OPM change -9 pp
100% evidence
13.7/25Capital efficiency
ROCE 15.5% · debt/equity 0.02×
100% evidence
12.1/20Valuation
P/E 31.8× · PEG 1.25
100% evidence
4.4/20Relative strength
RS sector -19.2% · RS bench -2.1% · 1Y -4.3%
100% evidence
40. Dr Reddys Laboratories Ltd · DRREDDY
31.6/100 · Adverse evidence · 100% evidence
Exact sum: 4.4 + 11.8 + 13.9 + 1.5 = 31.6
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
4.4/35Growth & earnings
Revenue -0.9% · PAT -44.6% · OPM change -14 pp
100% evidence
11.8/25Capital efficiency
ROCE 13% · debt/equity 0.2×
100% evidence
13.9/20Valuation
P/E 29.8× · PEG 1.15
100% evidence
1.5/20Relative strength
RS sector -21.8% · RS bench -5.5% · 1Y -3.7%
100% evidence
41. Influx Healthtech Ltd · INFLUX
65.0/100 · Thin evidence · provisional · 50% evidence
Exact sum: 19.1 + 20.8 + 10 + 15.1 = 65
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19.1/35Growth & earnings
Revenue — · PAT — · OPM change -1 pp
26% evidence
20.8/25Capital efficiency
ROCE 40% · debt/equity 0×
95% evidence
10.0/20Valuation
P/E 32.7× · PEG —
15% evidence
15.1/20Relative strength
RS sector 7.2% · RS bench 28.4% · 1Y 78.1%
70% evidence
42. Syncom Healthcare Ltd · SYNCOM
49.7/100 · Thin evidence · provisional · 33% evidence
Exact sum: 17.2 + 6.2 + 10 + 16.3 = 49.7
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17.2/35Growth & earnings
Revenue -69.4% · PAT 63.5% · OPM change —
16% evidence
6.2/25Capital efficiency
ROCE -20.2% · debt/equity 5.41×
51% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
16.3/20Relative strength
RS sector 29.1% · RS bench 45.7% · 1Y —
70% evidence
43. Sai Parenterals Ltd · SAIPARENT
39.3/100 · Thin evidence · provisional · 33% evidence
Exact sum: 15.2 + 5.5 + 8.6 + 10 = 39.3
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15.2/35Growth & earnings
Revenue — · PAT — · OPM change —
16% evidence
5.5/25Capital efficiency
ROCE 6% · debt/equity 0.68×
95% evidence
8.6/20Valuation
P/E 166× · PEG —
15% evidence
10.0/20Relative strength
RS sector — · RS bench — · 1Y —
0% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
Sun Pharmaceutical Industries Ltd has the highest Revenue among the 43 Pharma - Formulators companies compared here, at ₹58,462 crore. Aurobindo Pharma Ltd is next at ₹33,653 crore. Rubicon Research Ltd has the highest Revenue growth at 36.6%, so level and change sit with different companies. 41 of 43 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Sun Pharmaceutical Industries Ltd is the scale leader at ₹58,462 crore, 73.7% ahead of Aurobindo Pharma Ltd. Rubicon Research Ltd's growth is 36.6% from a ₹1,754 crore base, with 8 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderSun Pharmaceutical Industries Ltd · ₹58,462 crore
Gap73.7% versus #2 · Aurobindo Pharma Ltd
Persistence8/8 recent comparable periods
Coverage41/43 companies · 651 observations
Investor read: Sun Pharmaceutical Industries Ltd is the scale benchmark; Rubicon Research Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Sun Pharmaceutical Industries Ltd's growth falls below Rubicon Research 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
1Sun Pharmaceutical Industries Ltd SUNPHARMA₹58.5K Cr
2Aurobindo Pharma Ltd AUROPHARMA₹33.7K Cr
3Dr Reddys Laboratories Ltd DRREDDY₹33.2K Cr
4Cipla Ltd CIPLA₹28.3K Cr
5Lupin Ltd LUPIN₹28.0K Cr
Revenue growthfastest growers
1Rubicon Research Ltd RUBICON37%
2Kwality Pharmaceuticals Ltd 53999736%
3Glenmark Pharmaceuticals Ltd GLENMARK28%
4Lupin Ltd LUPIN23%
5Torrent Pharmaceuticals Ltd TORNTPHARM21%
Revenue · company comparison
41/43 level · 39/43 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 |
|---|---|---|---|
| Sun Pharmaceutical Industries Ltd SUNPHARMA | ₹14.6K Cr | 13% | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | ₹8.9K Cr | 5.6% | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | ₹8.1K Cr | -5.5% | Jun 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | ₹7.6K Cr | 16% | Mar 2026 |
| Lupin Ltd LUPIN | ₹7.5K Cr | 32% | Mar 2026 |
| Cipla Ltd CIPLA | ₹7.1K Cr | 2.3% | Jun 2026 |
| Biocon Ltd BIOCON | ₹4.5K Cr | 2.3% | Mar 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | ₹4.2K Cr | 42% | Mar 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | ₹3.8K Cr | 16% | Mar 2026 |
| Alkem Laboratories Ltd ALKEM | ₹3.6K Cr | 15% | Mar 2026 |
| Mankind Pharma Ltd MANKIND | ₹3.4K Cr | 12% | Mar 2026 |
| Emcure Pharmaceuticals Ltd EMCURE | ₹2.5K Cr | 17% | Mar 2026 |
| Ipca Laboratories Ltd IPCALAB | ₹2.4K Cr | 6.3% | Mar 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | ₹1.8K Cr | 4.4% | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | ₹1.4K Cr | 22% | Mar 2026 |
| Strides Pharma Science Ltd STAR | ₹1.3K Cr | 11% | Mar 2026 |
| Akums Drugs & Pharmaceuticals Ltd AKUMS | ₹1.2K Cr | 9.7% | Mar 2026 |
| Wockhardt Ltd WOCKPHARMA | ₹965 Cr | 30% | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | ₹904 Cr | -4.7% | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | ₹856 Cr | 21% | Mar 2026 |
| ERIS Lifesciences Ltd ERIS | ₹757 Cr | 7.4% | Mar 2026 |
| Natco Pharma Ltd NATCOPHARM | ₹739 Cr | -39% | Mar 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | ₹600 Cr | 20% | Mar 2026 |
| FDC Ltd FDC | ₹585 Cr | 19% | Mar 2026 |
| Rubicon Research Ltd RUBICON | ₹514 Cr | 44% | Mar 2026 |
| Indoco Remedies Ltd INDOCO | ₹476 Cr | 22% | Mar 2026 |
| Corona Remedies Ltd CORONA | ₹353 Cr | 20% | Mar 2026 |
| Bliss GVS Pharma Ltd BLISSGVS | ₹257 Cr | 30% | Mar 2026 |
| Gufic BioSciences Ltd GUFICBIO | ₹252 Cr | 23% | Mar 2026 |
| Fredun Pharmaceuticals Ltd 539730 | ₹213 Cr | 28% | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | ₹210 Cr | 51% | Mar 2026 |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | ₹198 Cr | — | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | ₹187 Cr | 11% | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | ₹177 Cr | 24% | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | ₹166 Cr | 11% | Jun 2026 |
| Kwality Pharmaceuticals Ltd 539997 | ₹157 Cr | 35% | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | ₹150 Cr | 11% | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | ₹105 Cr | -3.2% | Mar 2026 |
| Bharat Parenterals Ltd 541096 | ₹100 Cr | -4.2% | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | ₹90 Cr | 48% | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | ₹80 Cr | 40% | Mar 2026 |
| Suven Life Sciences Ltd SUVEN | ₹2 Cr | 100% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Showing the 12 largest of 42 companies with a series here. The remaining 30 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
—
—
—
—
—
₹3.0K Cr
₹2.9K Cr
₹3.0K Cr
₹3.4K Cr
₹3.3K Cr
₹2.9K Cr
₹3.0K Cr
₹3.4K Cr
₹3.4K Cr
₹3.1K Cr
₹3.4K Cr
₹4.0K Cr
₹3.7K Cr
₹3.6K Cr
—
Aurobindo Pharma Ltd · AUROPHARMA
₹5.9K Cr
₹6.0K Cr
₹5.8K Cr
₹6.2K Cr
₹1.9K Cr
₹6.4K Cr
₹6.5K Cr
₹6.9K Cr
₹7.2K Cr
₹7.4K Cr
₹7.6K Cr
₹7.6K Cr
₹7.8K Cr
₹8.0K Cr
₹8.4K Cr
₹7.9K Cr
₹8.3K Cr
₹8.6K Cr
₹8.9K Cr
—
Biocon Ltd · BIOCON
₹1.8K Cr
₹2.2K Cr
₹2.4K Cr
₹2.1K Cr
₹490 Cr
₹2.9K Cr
₹3.8K Cr
₹3.4K Cr
₹3.5K Cr
₹4.0K Cr
₹3.9K Cr
₹3.4K Cr
₹3.6K Cr
₹3.8K Cr
₹4.4K Cr
₹3.9K Cr
₹4.3K Cr
₹4.2K Cr
₹4.5K Cr
—
Cipla Ltd · CIPLA
₹5.5K Cr
₹5.5K Cr
₹5.2K Cr
₹5.3K Cr
₹5.8K Cr
₹5.8K Cr
₹5.7K Cr
₹6.3K Cr
₹6.7K Cr
₹6.6K Cr
₹6.2K Cr
₹6.7K Cr
₹7.1K Cr
₹7.1K Cr
₹6.7K Cr
₹7.0K Cr
₹7.6K Cr
₹7.1K Cr
₹6.5K Cr
₹7.1K Cr
Dr Reddys Laboratories Ltd · DRREDDY
₹5.8K Cr
₹5.3K Cr
₹5.4K Cr
₹5.2K Cr
₹6.3K Cr
₹6.8K Cr
₹6.3K Cr
₹6.8K Cr
₹6.9K Cr
₹7.2K Cr
₹7.1K Cr
₹7.7K Cr
₹8.0K Cr
₹8.4K Cr
₹8.5K Cr
₹8.6K Cr
₹8.8K Cr
₹8.8K Cr
₹7.5K Cr
₹8.1K Cr
Glenmark Pharmaceuticals Ltd · GLENMARK
₹3.1K Cr
₹3.2K Cr
₹3.0K Cr
₹2.8K Cr
₹3.4K Cr
₹3.1K Cr
₹3.0K Cr
₹3.0K Cr
₹3.2K Cr
₹2.5K Cr
₹3.1K Cr
₹3.2K Cr
₹3.4K Cr
₹3.4K Cr
₹3.3K Cr
₹3.3K Cr
₹6.0K Cr
₹3.9K Cr
₹3.8K Cr
—
Ipca Laboratories Ltd · IPCALAB
—
—
—
—
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹2.0K Cr
₹2.1K Cr
₹2.0K Cr
₹2.1K Cr
₹2.4K Cr
₹2.2K Cr
₹2.2K Cr
₹2.3K Cr
₹2.6K Cr
₹2.4K Cr
₹2.4K Cr
—
Lupin Ltd · LUPIN
₹4.1K Cr
₹4.2K Cr
₹3.9K Cr
₹3.7K Cr
₹4.1K Cr
₹4.3K Cr
₹4.4K Cr
₹4.8K Cr
₹5.0K Cr
₹5.2K Cr
₹5.0K Cr
₹5.6K Cr
₹5.7K Cr
₹5.8K Cr
₹5.7K Cr
₹6.3K Cr
₹7.0K Cr
₹7.2K Cr
₹7.5K Cr
—
Mankind Pharma Ltd · MANKIND
—
—
₹1.7K Cr
₹2.2K Cr
₹2.4K Cr
₹2.1K Cr
₹2.1K Cr
₹2.6K Cr
₹2.7K Cr
₹2.6K Cr
₹2.4K Cr
₹2.9K Cr
₹3.1K Cr
₹3.2K Cr
₹3.1K Cr
₹3.6K Cr
₹3.7K Cr
₹3.6K Cr
₹3.4K Cr
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹9.6K Cr
₹9.9K Cr
₹9.4K Cr
₹10.8K Cr
₹11.0K Cr
₹11.2K Cr
₹10.9K Cr
₹11.9K Cr
₹12.2K Cr
₹12.4K Cr
₹12.0K Cr
₹12.7K Cr
₹13.3K Cr
₹13.7K Cr
₹13.0K Cr
₹13.9K Cr
₹14.5K Cr
₹15.5K Cr
₹14.6K Cr
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹2.1K Cr
₹2.1K Cr
₹2.1K Cr
₹2.3K Cr
₹2.3K Cr
₹2.5K Cr
₹2.5K Cr
₹2.6K Cr
₹2.7K Cr
₹2.7K Cr
₹2.7K Cr
₹2.9K Cr
₹2.9K Cr
₹2.8K Cr
₹3.0K Cr
₹3.2K Cr
₹3.3K Cr
₹3.3K Cr
₹4.2K Cr
—
Zydus Lifesciences Ltd · ZYDUSLIFE
₹3.8K Cr
₹3.7K Cr
₹3.6K Cr
₹4.1K Cr
₹4.1K Cr
₹4.3K Cr
₹5.0K Cr
₹5.1K Cr
₹4.4K Cr
₹4.5K Cr
₹5.5K Cr
₹6.2K Cr
₹5.2K Cr
₹5.3K Cr
₹6.5K Cr
₹6.6K Cr
₹6.1K Cr
₹6.9K Cr
₹7.6K Cr
—
Revenue growth · reported quarter history
Showing the 12 largest of 41 companies with a series here. The remaining 29 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
—
—
—
—
—
—
—
—
—
9.3%
1.1%
2.2%
-0.7%
1.5%
7.1%
11%
17%
11%
15%
—
Aurobindo Pharma Ltd · AUROPHARMA
—
—
—
9.4%
-67%
6.8%
11%
9.9%
271%
15%
17%
10%
8.0%
8.5%
11%
4.0%
6.3%
8.4%
5.6%
—
Biocon Ltd · BIOCON
—
—
—
22%
-73%
35%
57%
60%
607%
34%
3.8%
0.3%
3.7%
-3.4%
13%
15%
20%
9.2%
2.3%
—
Cipla Ltd · CIPLA
—
—
—
-3.4%
5.6%
6.0%
10%
19%
15%
14%
7.4%
5.8%
5.6%
7.1%
9.2%
3.9%
7.6%
0.0%
-2.8%
2.3%
Dr Reddys Laboratories Ltd · DRREDDY
—
—
—
6.0%
9.4%
28%
16%
30%
9.5%
6.6%
13%
14%
16%
16%
20%
11%
9.8%
4.4%
-12%
-5.5%
Glenmark Pharmaceuticals Ltd · GLENMARK
—
—
—
-8.2%
7.7%
-2.7%
1.4%
9.3%
-5.0%
-19%
2.1%
6.9%
7.1%
35%
6.3%
0.6%
76%
15%
16%
—
Ipca Laboratories Ltd · IPCALAB
—
—
—
—
—
—
—
—
36%
33%
34%
32%
16%
9.4%
11%
10%
8.5%
6.6%
6.3%
—
Lupin Ltd · LUPIN
—
—
—
-12%
1.3%
3.9%
14%
29%
22%
20%
12%
16%
13%
11%
14%
12%
24%
24%
32%
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
19%
18%
12%
25%
18%
11%
13%
23%
27%
24%
21%
12%
12%
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
—
—
—
11%
14%
14%
16%
11%
11%
10%
9.6%
6.0%
9.0%
10%
8.1%
9.5%
8.9%
14%
13%
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
—
—
—
10.0%
7.2%
18%
17%
10%
16%
9.7%
10%
10%
8.6%
2.8%
7.8%
11%
14%
18%
42%
—
Zydus Lifesciences Ltd · ZYDUSLIFE
—
—
—
1.2%
9.3%
16%
37%
26%
5.7%
5.8%
10%
21%
20%
17%
18%
5.9%
17%
30%
16%
—
02 · compare level, then change
Operating Economics & Margin Trend
ERIS Lifesciences Ltd has the highest OPM among the 43 Pharma - Formulators companies compared here, at 36%. Caplin Point Laboratories Ltd is next at 34%. Wockhardt Ltd has the highest Margin change at +14 percentage points, so level and change sit with different companies. 42 of 43 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: ERIS Lifesciences Ltd leads opm at 36%; Wockhardt Ltd leads margin change at +14 percentage points.
LeaderERIS Lifesciences Ltd · 36%
Gap5.9% versus #2 · Caplin Point Laboratories Ltd
Persistence3/8 recent comparable periods
Coverage42/43 companies · 707 observations
Investor read: ERIS Lifesciences 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
1ERIS Lifesciences Ltd ERIS36%
2Caplin Point Laboratories Ltd CAPLIPOINT34%
3Zydus Lifesciences Ltd ZYDUSLIFE34%
4Lupin Ltd LUPIN33%
5Torrent Pharmaceuticals Ltd TORNTPHARM32%
Margin changefastest expanders
1Wockhardt Ltd WOCKPHARMA+14.0 pp
2Indoco Remedies Ltd INDOCO+10.0 pp
3Lupin Ltd LUPIN+10.0 pp
4FDC Ltd FDC+7.0 pp
5Bliss GVS Pharma Ltd BLISSGVS+6.0 pp
Operating margin · company comparison
42/43 level · 41/43 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 |
|---|---|---|---|
| ERIS Lifesciences Ltd ERIS | 36% | 0.0 pp | Mar 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | 34% | +1.0 pp | Mar 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | 34% | +1.0 pp | Mar 2026 |
| Lupin Ltd LUPIN | 33% | +10.0 pp | Mar 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | 32% | −1.0 pp | Mar 2026 |
| Sun Pharmaceutical Industries Ltd SUNPHARMA | 27% | −2.0 pp | Mar 2026 |
| Mankind Pharma Ltd MANKIND | 27% | +5.0 pp | Mar 2026 |
| Kwality Pharmaceuticals Ltd 539997 | 25% | +3.0 pp | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | 25% | +1.0 pp | Mar 2026 |
| Biocon Ltd BIOCON | 23% | −1.0 pp | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | 23% | −2.0 pp | Mar 2026 |
| Wockhardt Ltd WOCKPHARMA | 23% | +14.0 pp | Mar 2026 |
| Rubicon Research Ltd RUBICON | 23% | +3.0 pp | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | 23% | +5.0 pp | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | 22% | −2.0 pp | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | 20% | −1.0 pp | Mar 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | 20% | +3.0 pp | Mar 2026 |
| Ipca Laboratories Ltd IPCALAB | 20% | +1.0 pp | Mar 2026 |
| Emcure Pharmaceuticals Ltd EMCURE | 19% | 0.0 pp | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | 19% | +1.0 pp | Mar 2026 |
| Gufic BioSciences Ltd GUFICBIO | 19% | +6.0 pp | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | 19% | −1.0 pp | Mar 2026 |
| Corona Remedies Ltd CORONA | 18% | 0.0 pp | Mar 2026 |
| Strides Pharma Science Ltd STAR | 18% | 0.0 pp | Mar 2026 |
| FDC Ltd FDC | 18% | +7.0 pp | Mar 2026 |
| Cipla Ltd CIPLA | 17% | −9.0 pp | Jun 2026 |
| Natco Pharma Ltd NATCOPHARM | 17% | −28.0 pp | Mar 2026 |
| Bliss GVS Pharma Ltd BLISSGVS | 17% | +6.0 pp | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | 17% | +4.0 pp | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | 17% | +1.0 pp | Jun 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | 16% | −1.0 pp | Mar 2026 |
| Fredun Pharmaceuticals Ltd 539730 | 14% | +4.0 pp | Mar 2026 |
| Alkem Laboratories Ltd ALKEM | 14% | +2.0 pp | Mar 2026 |
| Akums Drugs & Pharmaceuticals Ltd AKUMS | 13% | +4.0 pp | Mar 2026 |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | 13% | — | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | 13% | −3.0 pp | Mar 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | 12% | −3.0 pp | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | 11% | −14.0 pp | Jun 2026 |
| Indoco Remedies Ltd INDOCO | 10% | +10.0 pp | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | 6.8% | −6.6 pp | Mar 2026 |
| Bharat Parenterals Ltd 541096 | -0.5% | −2.7 pp | Mar 2026 |
| Suven Life Sciences Ltd SUVEN | -768% | −350.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Showing the 12 largest of 42 companies with a series here. The remaining 30 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
22%
19%
14%
7.9%
15%
20%
12%
13%
22%
21%
14%
20%
22%
23%
12%
22%
23%
22%
14%
—
Aurobindo Pharma Ltd · AUROPHARMA
20%
17%
17%
15%
14%
15%
15%
17%
19%
22%
22%
21%
20%
20%
21%
20%
20%
21%
20%
—
Biocon Ltd · BIOCON
21%
20%
22%
17%
6.0%
20%
25%
20%
21%
23%
23%
18%
19%
20%
24%
19%
19%
20%
23%
—
Cipla Ltd · CIPLA
22%
22%
14%
21%
22%
24%
20%
24%
26%
26%
21%
26%
27%
28%
23%
26%
25%
18%
15%
17%
Dr Reddys Laboratories Ltd · DRREDDY
24%
23%
8.2%
18%
30%
29%
24%
31%
29%
28%
26%
28%
26%
27%
23%
25%
23%
22%
5.0%
11%
Glenmark Pharmaceuticals Ltd · GLENMARK
19%
22%
15%
16%
16%
15%
13%
14%
14%
-8.0%
16%
18%
18%
18%
17%
18%
39%
22%
20%
—
Ipca Laboratories Ltd · IPCALAB
23%
22%
17%
17%
18%
14%
12%
19%
18%
16%
16%
19%
19%
21%
19%
18%
21%
22%
20%
—
Lupin Ltd · LUPIN
-32%
8.9%
6.9%
6.2%
11%
12%
13%
18%
18%
20%
20%
22%
24%
24%
23%
28%
33%
32%
33%
—
Mankind Pharma Ltd · MANKIND
—
—
17%
21%
24%
21%
20%
25%
25%
23%
24%
23%
28%
26%
22%
24%
25%
26%
27%
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
27%
26%
25%
27%
27%
27%
26%
28%
26%
28%
25%
29%
30%
29%
29%
31%
31%
32%
27%
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
31%
26%
26%
30%
30%
29%
29%
31%
31%
32%
32%
32%
32%
33%
33%
32%
33%
33%
32%
—
Zydus Lifesciences Ltd · ZYDUSLIFE
24%
21%
19%
20%
20%
22%
25%
29%
26%
24%
29%
34%
28%
26%
33%
32%
33%
26%
34%
—
Margin change · reported quarter history
Showing the 12 largest of 41 companies with a series here. The remaining 29 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
−3.1 pp
−3.8 pp
+0.3 pp
−13.8 pp
−7.6 pp
+1.0 pp
−1.6 pp
+5.1 pp
+7.3 pp
+1.0 pp
+2.0 pp
+7.0 pp
0.0 pp
+2.0 pp
−2.0 pp
+2.0 pp
+1.0 pp
−1.0 pp
+2.0 pp
—
Aurobindo Pharma Ltd · AUROPHARMA
−2.0 pp
−4.5 pp
−4.4 pp
−6.1 pp
−5.8 pp
−1.8 pp
−1.7 pp
+2.1 pp
+5.0 pp
+7.0 pp
+7.0 pp
+4.0 pp
+1.0 pp
−2.0 pp
−1.0 pp
−1.0 pp
0.0 pp
+1.0 pp
−1.0 pp
—
Biocon Ltd · BIOCON
−0.6 pp
−1.2 pp
+2.5 pp
−2.3 pp
−15.5 pp
−0.3 pp
+2.6 pp
+3.3 pp
+15.0 pp
+3.0 pp
−2.0 pp
−2.0 pp
−2.0 pp
−3.0 pp
+1.0 pp
+1.0 pp
0.0 pp
0.0 pp
−1.0 pp
—
Cipla Ltd · CIPLA
−1.1 pp
−1.3 pp
−3.0 pp
−3.2 pp
+0.1 pp
+1.5 pp
+5.8 pp
+2.7 pp
+3.7 pp
+2.0 pp
+1.0 pp
+2.0 pp
+1.0 pp
+2.0 pp
+2.0 pp
0.0 pp
−2.0 pp
−10.0 pp
−8.0 pp
−9.0 pp
Dr Reddys Laboratories Ltd · DRREDDY
−0.0 pp
+11.9 pp
−13.9 pp
+3.1 pp
+6.5 pp
+6.2 pp
+15.8 pp
+13.0 pp
−1.0 pp
−1.0 pp
+2.0 pp
−3.0 pp
−3.0 pp
−1.0 pp
−3.0 pp
−3.0 pp
−3.0 pp
−5.0 pp
−18.0 pp
−14.0 pp
Glenmark Pharmaceuticals Ltd · GLENMARK
+0.0 pp
+2.8 pp
−3.0 pp
−3.8 pp
−2.9 pp
−6.8 pp
−2.4 pp
−1.5 pp
−1.9 pp
−23.0 pp
+3.0 pp
+4.0 pp
+4.0 pp
+26.0 pp
+1.0 pp
0.0 pp
+21.0 pp
+4.0 pp
+3.0 pp
—
Ipca Laboratories Ltd · IPCALAB
−3.0 pp
−4.4 pp
−3.5 pp
−9.5 pp
−5.3 pp
−7.5 pp
−5.0 pp
+2.0 pp
0.0 pp
+2.0 pp
+4.0 pp
0.0 pp
+1.0 pp
+5.0 pp
+3.0 pp
−1.0 pp
+2.0 pp
+1.0 pp
+1.0 pp
—
Lupin Ltd · LUPIN
−47.5 pp
−10.5 pp
−12.1 pp
−16.4 pp
+43.4 pp
+3.1 pp
+6.1 pp
+11.8 pp
+7.0 pp
+8.0 pp
+7.0 pp
+4.0 pp
+6.0 pp
+4.0 pp
+3.0 pp
+6.0 pp
+9.0 pp
+8.0 pp
+10.0 pp
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
+3.5 pp
+4.1 pp
+0.7 pp
+2.0 pp
+4.0 pp
−2.0 pp
+3.0 pp
+3.0 pp
−2.0 pp
+1.0 pp
−3.0 pp
0.0 pp
+5.0 pp
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
+1.7 pp
−0.8 pp
+0.7 pp
−2.2 pp
−0.3 pp
+0.6 pp
+1.2 pp
+1.2 pp
−1.0 pp
+1.0 pp
−1.0 pp
+1.0 pp
+4.0 pp
+1.0 pp
+4.0 pp
+2.0 pp
+1.0 pp
+3.0 pp
−2.0 pp
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
−0.6 pp
−4.9 pp
−3.7 pp
−1.4 pp
−0.9 pp
+3.5 pp
+2.7 pp
+0.7 pp
+1.0 pp
+3.0 pp
+3.0 pp
+1.0 pp
+1.0 pp
+1.0 pp
+1.0 pp
0.0 pp
+1.0 pp
0.0 pp
−1.0 pp
—
Zydus Lifesciences Ltd · ZYDUSLIFE
+1.7 pp
−0.5 pp
−4.3 pp
−2.7 pp
−4.2 pp
+1.4 pp
+6.1 pp
+8.6 pp
+6.3 pp
+2.0 pp
+4.0 pp
+5.0 pp
+2.0 pp
+2.0 pp
+4.0 pp
−2.0 pp
+5.0 pp
0.0 pp
+1.0 pp
—
03 · compare level, then change
Profit Scale & Acceleration
Sun Pharmaceutical Industries Ltd has the highest Net profit among the 43 Pharma - Formulators companies compared here, at ₹11,509 crore. Lupin Ltd is next at ₹5,356 crore. Rubicon Research Ltd has the highest Profit growth at 84.3%, so level and change sit with different companies. 41 of 43 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Sun Pharmaceutical Industries Ltd leads with ₹11,509 crore of TTM profit, 114.9% above Lupin Ltd. Rubicon Research Ltd shows 84.3% growth from a ₹247 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderSun Pharmaceutical Industries Ltd · ₹11,509 crore
Gap114.9% versus #2 · Lupin Ltd
Persistence6/8 recent comparable periods
Coverage41/43 companies · 651 observations
Investor read: Sun Pharmaceutical Industries 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
1Sun Pharmaceutical Industries Ltd SUNPHARMA₹11.5K Cr
2Lupin Ltd LUPIN₹5.4K Cr
3Zydus Lifesciences Ltd ZYDUSLIFE₹5.1K Cr
4Aurobindo Pharma Ltd AUROPHARMA₹3.5K Cr
5Cipla Ltd CIPLA₹3.4K Cr
Profit growthfastest growers
1Rubicon Research Ltd RUBICON84%
2ERIS Lifesciences Ltd ERIS73%
3Kwality Pharmaceuticals Ltd 53999772%
4Lupin Ltd LUPIN62%
5Ipca Laboratories Ltd IPCALAB51%
Net profit · company comparison
41/43 level · 34/43 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 |
|---|---|---|---|
| Sun Pharmaceutical Industries Ltd SUNPHARMA | ₹2.7K Cr | 26% | Mar 2026 |
| Lupin Ltd LUPIN | ₹1.5K Cr | 88% | Mar 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | ₹1.3K Cr | 7.8% | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | ₹921 Cr | 2.0% | Mar 2026 |
| Cipla Ltd CIPLA | ₹786 Cr | -39% | Jun 2026 |
| Mankind Pharma Ltd MANKIND | ₹559 Cr | 32% | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | ₹436 Cr | -69% | Jun 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | ₹364 Cr | -27% | Mar 2026 |
| Ipca Laboratories Ltd IPCALAB | ₹307 Cr | 380% | Mar 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | ₹301 Cr | 7,425% | Mar 2026 |
| ERIS Lifesciences Ltd ERIS | ₹279 Cr | 174% | Mar 2026 |
| Natco Pharma Ltd NATCOPHARM | ₹269 Cr | -34% | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | ₹267 Cr | 19% | Mar 2026 |
| Alkem Laboratories Ltd ALKEM | ₹251 Cr | -22% | Mar 2026 |
| Emcure Pharmaceuticals Ltd EMCURE | ₹244 Cr | 24% | Mar 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | ₹202 Cr | 29% | Mar 2026 |
| Biocon Ltd BIOCON | ₹199 Cr | -57% | Mar 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | ₹173 Cr | 19% | Mar 2026 |
| Wockhardt Ltd WOCKPHARMA | ₹164 Cr | 205% | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | ₹149 Cr | 64% | Mar 2026 |
| Strides Pharma Science Ltd STAR | ₹129 Cr | 50% | Mar 2026 |
| FDC Ltd FDC | ₹103 Cr | 164% | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | ₹101 Cr | -31% | Mar 2026 |
| Akums Drugs & Pharmaceuticals Ltd AKUMS | ₹81 Cr | -46% | Mar 2026 |
| Rubicon Research Ltd RUBICON | ₹77 Cr | 114% | Mar 2026 |
| Corona Remedies Ltd CORONA | ₹45 Cr | 41% | Mar 2026 |
| Bliss GVS Pharma Ltd BLISSGVS | ₹37 Cr | 118% | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | ₹30 Cr | -74% | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | ₹26 Cr | 53% | Mar 2026 |
| Kwality Pharmaceuticals Ltd 539997 | ₹25 Cr | 79% | Mar 2026 |
| Gufic BioSciences Ltd GUFICBIO | ₹22 Cr | 175% | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | ₹16 Cr | 6.7% | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | ₹15 Cr | 50% | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | ₹14 Cr | 17% | Jun 2026 |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | ₹13 Cr | — | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | ₹12 Cr | 0.0% | Mar 2026 |
| Fredun Pharmaceuticals Ltd 539730 | ₹11 Cr | 83% | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | ₹11 Cr | 38% | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | ₹4 Cr | -23% | Mar 2026 |
| Bharat Parenterals Ltd 541096 | ₹-8 Cr | -316% | Mar 2026 |
| Indoco Remedies Ltd INDOCO | ₹-24 Cr | -1,900% | Mar 2026 |
| Suven Life Sciences Ltd SUVEN | ₹-46 Cr | — | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 42 companies with a series here. The remaining 30 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
—
—
—
—
—
₹460 Cr
₹68 Cr
₹288 Cr
₹615 Cr
₹604 Cr
₹304 Cr
₹550 Cr
₹702 Cr
₹641 Cr
₹322 Cr
₹668 Cr
₹779 Cr
₹653 Cr
₹251 Cr
—
Aurobindo Pharma Ltd · AUROPHARMA
₹697 Cr
₹605 Cr
₹576 Cr
₹521 Cr
₹165 Cr
₹491 Cr
₹506 Cr
₹570 Cr
₹752 Cr
₹940 Cr
₹907 Cr
₹918 Cr
₹817 Cr
₹846 Cr
₹903 Cr
₹824 Cr
₹848 Cr
₹910 Cr
₹921 Cr
—
Biocon Ltd · BIOCON
₹160 Cr
₹220 Cr
₹284 Cr
₹167 Cr
₹988 Cr
₹-21 Cr
₹414 Cr
₹149 Cr
₹173 Cr
₹753 Cr
₹223 Cr
₹862 Cr
₹27 Cr
₹81 Cr
₹459 Cr
₹89 Cr
₹133 Cr
₹-52 Cr
₹199 Cr
—
Cipla Ltd · CIPLA
₹711 Cr
₹729 Cr
₹362 Cr
₹686 Cr
₹789 Cr
₹808 Cr
₹522 Cr
₹998 Cr
₹1.2K Cr
₹1.1K Cr
₹932 Cr
₹1.2K Cr
₹1.3K Cr
₹1.6K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹674 Cr
₹543 Cr
₹786 Cr
Dr Reddys Laboratories Ltd · DRREDDY
₹992 Cr
₹707 Cr
₹88 Cr
₹1.2K Cr
₹1.1K Cr
₹1.2K Cr
₹960 Cr
₹1.4K Cr
₹1.5K Cr
₹1.4K Cr
₹1.3K Cr
₹1.4K Cr
₹1.3K Cr
₹1.4K Cr
₹1.6K Cr
₹1.4K Cr
₹1.3K Cr
₹1.2K Cr
₹221 Cr
₹436 Cr
Glenmark Pharmaceuticals Ltd · GLENMARK
₹275 Cr
₹240 Cr
₹173 Cr
₹211 Cr
₹279 Cr
₹291 Cr
₹-403 Cr
₹173 Cr
₹-62 Cr
₹-331 Cr
₹-1.2K Cr
₹340 Cr
₹354 Cr
₹348 Cr
₹4 Cr
₹47 Cr
₹610 Cr
₹403 Cr
₹301 Cr
—
Ipca Laboratories Ltd · IPCALAB
—
—
—
—
₹166 Cr
₹110 Cr
₹78 Cr
₹164 Cr
₹136 Cr
₹221 Cr
₹1 Cr
₹199 Cr
₹246 Cr
₹276 Cr
₹64 Cr
₹233 Cr
₹281 Cr
₹364 Cr
₹307 Cr
—
Lupin Ltd · LUPIN
₹-2.1K Cr
₹549 Cr
₹-512 Cr
₹-87 Cr
₹134 Cr
₹158 Cr
₹242 Cr
₹453 Cr
₹495 Cr
₹619 Cr
₹368 Cr
₹806 Cr
₹859 Cr
₹859 Cr
₹782 Cr
₹1.2K Cr
₹1.5K Cr
₹1.2K Cr
₹1.5K Cr
—
Mankind Pharma Ltd · MANKIND
—
—
₹190 Cr
₹293 Cr
₹420 Cr
₹296 Cr
₹294 Cr
₹494 Cr
₹511 Cr
₹460 Cr
₹477 Cr
₹543 Cr
₹659 Cr
₹385 Cr
₹425 Cr
₹445 Cr
₹520 Cr
₹414 Cr
₹559 Cr
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹2.0K Cr
₹2.1K Cr
₹-2.3K Cr
₹2.1K Cr
₹2.3K Cr
₹2.2K Cr
₹2.0K Cr
₹2.0K Cr
₹2.4K Cr
₹2.6K Cr
₹2.7K Cr
₹2.9K Cr
₹3.0K Cr
₹2.9K Cr
₹2.2K Cr
₹2.3K Cr
₹3.1K Cr
₹3.4K Cr
₹2.7K Cr
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹316 Cr
₹249 Cr
₹-118 Cr
₹354 Cr
₹312 Cr
₹292 Cr
₹287 Cr
₹378 Cr
₹386 Cr
₹443 Cr
₹449 Cr
₹457 Cr
₹453 Cr
₹503 Cr
₹498 Cr
₹548 Cr
₹591 Cr
₹635 Cr
₹364 Cr
—
Zydus Lifesciences Ltd · ZYDUSLIFE
₹3.0K Cr
₹511 Cr
₹453 Cr
₹576 Cr
₹526 Cr
₹631 Cr
₹358 Cr
₹1.1K Cr
₹803 Cr
₹790 Cr
₹1.2K Cr
₹1.5K Cr
₹920 Cr
₹1.0K Cr
₹1.2K Cr
₹1.5K Cr
₹1.2K Cr
₹1.0K Cr
₹1.3K Cr
—
Profit growth · reported quarter history
Showing the 12 largest of 40 companies with a series here. The remaining 28 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
—
—
—
—
—
—
—
—
—
31%
347%
91%
14%
6.1%
5.9%
21%
11%
1.9%
-22%
—
Aurobindo Pharma Ltd · AUROPHARMA
—
—
—
-32%
-76%
-19%
-12%
9.4%
356%
91%
79%
61%
8.6%
-10%
-0.4%
-10%
3.8%
7.6%
2.0%
—
Biocon Ltd · BIOCON
—
—
—
55%
518%
-110%
46%
-11%
-82%
—
-46%
479%
-84%
-89%
106%
-90%
393%
-164%
-57%
—
Cipla Ltd · CIPLA
—
—
—
-4.1%
11%
11%
44%
45%
46%
32%
79%
18%
13%
47%
30%
10.0%
3.7%
-57%
-55%
-39%
Dr Reddys Laboratories Ltd · DRREDDY
—
—
—
108%
12%
76%
991%
18%
33%
11%
36%
-0.9%
-9.5%
1.7%
21%
1.3%
-0.4%
-15%
-86%
-69%
Glenmark Pharmaceuticals Ltd · GLENMARK
—
—
—
-31%
1.5%
21%
-333%
-18%
-122%
-214%
—
97%
—
—
—
-86%
72%
16%
7,425%
—
Ipca Laboratories Ltd · IPCALAB
—
—
—
—
—
—
—
—
-18%
101%
-99%
21%
81%
25%
6,300%
17%
14%
32%
380%
—
Lupin Ltd · LUPIN
—
—
—
-116%
—
-71%
—
—
269%
292%
52%
78%
74%
39%
113%
51%
73%
37%
88%
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
55%
69%
22%
55%
62%
9.9%
29%
-16%
-11%
-18%
-21%
7.5%
32%
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
—
—
—
43%
11%
5.9%
—
-2.7%
5.4%
17%
34%
43%
27%
14%
-19%
-20%
2.9%
16%
26%
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
—
—
—
7.3%
-1.3%
17%
—
6.8%
24%
52%
56%
21%
17%
14%
11%
20%
30%
26%
-27%
—
Zydus Lifesciences Ltd · ZYDUSLIFE
—
—
—
-10%
-83%
23%
-21%
97%
53%
25%
248%
31%
15%
30%
-0.2%
2.6%
35%
-0.3%
7.8%
—
04 · compare level, then change
Capacity Spending & Returns On It
Dr Reddys Laboratories Ltd has the highest CAPEX among the 43 Pharma - Formulators companies compared here, at ₹454 crore. Mankind Pharma Ltd is next at ₹133 crore. Sai Parenterals Ltd has the highest CAPEX intensity at 57.1%, so level and change sit with different companies. 7 of 43 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Dr Reddys Laboratories Ltd reports ₹454 crore of CAPEX; Sai Parenterals Ltd has the highest covered intensity at 57.1%. Coverage is only 7 of 43 companies and 48 reported observations, so this is partial evidence—not a complete sector rank.
LeaderDr Reddys Laboratories Ltd · ₹454 crore
Gap241.4% versus #2 · Mankind Pharma Ltd
Persistence8/8 recent comparable periods
Coverage7/43 companies · 48 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
1Dr Reddys Laboratories Ltd DRREDDY₹454 Cr
2Mankind Pharma Ltd MANKIND₹133 Cr
3Sai Parenterals Ltd SAIPARENT⚠ unverified₹113 Cr
4Accent Microcell Ltd ACCENTMIC⚠ unverified₹34 Cr
5Rubicon Research Ltd RUBICON₹22 Cr
CAPEX intensityhighest reinvestment intensity
1Sai Parenterals Ltd SAIPARENT⚠ unverified57%
2Accent Microcell Ltd ACCENTMIC⚠ unverified16%
3Influx Healthtech Ltd INFLUX⚠ unverified7.5%
4Mankind Pharma Ltd MANKIND6.5%
5Dr Reddys Laboratories Ltd DRREDDY6.0%
Capital expenditure · company comparison
7/43 level · 7/43 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: Alkem Laboratories Ltd (ALKEM) — its two data sources disagree by up to 5.6% on reported income across 14 comparable periods, so its derived ratios are withheld; Ipca Laboratories Ltd (IPCALAB) — its two data sources disagree by up to 5,809% on reported income across 15 comparable periods, so its derived ratios are withheld; Emcure Pharmaceuticals Ltd (EMCURE) — its two data sources disagree by up to 7.2% on reported income across 12 comparable periods, so its derived ratios are withheld; ERIS Lifesciences Ltd (ERIS) — its two data sources disagree by up to 11% on reported income across 14 comparable periods, so its derived ratios are withheld; Akums Drugs & Pharmaceuticals Ltd (AKUMS) — its two data sources disagree by up to 4.7% on reported income across 12 comparable periods, so its derived ratios are withheld; Bliss GVS Pharma Ltd (BLISSGVS) — its two data sources disagree by up to 73% on reported income across 15 comparable periods, so its derived ratios are withheld; Indoco Remedies Ltd (INDOCO) — its two data sources disagree by up to 7.8% 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 |
|---|---|---|---|
| Dr Reddys Laboratories Ltd DRREDDY | ₹454 Cr | 6.0% | Jun 2026 |
| Mankind Pharma Ltd MANKIND | ₹133 Cr | 6.5% | Mar 2026 |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | ₹113 Cr | 57% | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | ₹34 Cr | 16% | Mar 2026 |
| Rubicon Research Ltd RUBICON | ₹22 Cr | 5.3% | Mar 2026 |
| Corona Remedies Ltd CORONA | ₹20 Cr | 5.5% | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | ₹6 Cr | 7.5% | Mar 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Accent Microcell Ltd · ACCENTMIC⚠ unverified
—
—
—
—
—
—
—
—
₹2 Cr
—
₹11 Cr
—
₹16 Cr
—
₹21 Cr
—
₹53 Cr
—
₹34 Cr
—
Corona Remedies Ltd · CORONA
—
—
—
—
—
—
—
—
—
—
₹28 Cr
₹20 Cr
₹20 Cr
₹25 Cr
₹25 Cr
₹13 Cr
₹20 Cr
—
—
—
Dr Reddys Laboratories Ltd · DRREDDY
₹358 Cr
₹414 Cr
₹374 Cr
₹331 Cr
₹251 Cr
₹293 Cr
₹258 Cr
₹364 Cr
₹368 Cr
₹384 Cr
₹524 Cr
₹511 Cr
₹754 Cr
₹720 Cr
₹766 Cr
₹686 Cr
₹522 Cr
₹670 Cr
₹454 Cr
—
Influx Healthtech Ltd · INFLUX⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
₹1 Cr
—
—
—
₹6 Cr
₹6 Cr
₹6 Cr
₹6 Cr
—
Mankind Pharma Ltd · MANKIND
—
—
₹91 Cr
—
—
₹196 Cr
₹133 Cr
—
—
—
—
—
—
—
—
—
—
—
—
—
Rubicon Research Ltd · RUBICON
—
—
—
—
—
—
—
—
—
—
—
₹11 Cr
₹14 Cr
—
—
₹143 Cr
₹22 Cr
—
—
—
Sai Parenterals Ltd · SAIPARENT⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
₹2 Cr
₹2 Cr
₹113 Cr
₹113 Cr
—
CAPEX intensity · reported quarter history
Accent Microcell Ltd · ACCENTMIC⚠ unverified
—
—
—
—
—
—
—
—
1.9%
—
7.9%
—
13%
—
15%
—
38%
—
16%
—
Corona Remedies Ltd · CORONA
—
—
—
—
—
—
—
—
—
—
11%
6.6%
6.4%
8.4%
8.5%
3.7%
5.5%
—
—
—
Dr Reddys Laboratories Ltd · DRREDDY
6.2%
7.8%
6.9%
6.3%
4.0%
4.3%
4.1%
5.4%
5.3%
5.3%
7.4%
6.6%
9.4%
8.6%
9.0%
8.0%
5.9%
7.7%
6.0%
—
Influx Healthtech Ltd · INFLUX⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
9.0%
—
7.5%
—
Mankind Pharma Ltd · MANKIND
—
—
5.3%
—
—
9.4%
6.5%
—
—
—
—
—
—
—
—
—
—
—
—
—
Rubicon Research Ltd · RUBICON
—
—
—
—
—
—
—
—
—
—
—
3.5%
4.7%
—
—
41%
5.3%
—
—
—
Sai Parenterals Ltd · SAIPARENT⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
4.7%
4.7%
118%
57%
—
Annual capital allocation · 10-year view
43/43 capacity base · 43/43 OCF · 43/43 CAPEX · 43/43 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 43 companies with a series here. The remaining 31 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
₹2.1K Cr
₹2.7K Cr
₹3.0K Cr
₹3.3K Cr
₹3.2K Cr
₹3.2K Cr
₹3.0K Cr
₹3.0K Cr
₹3.4K Cr
₹4.2K Cr
Aurobindo Pharma Ltd · AUROPHARMA
₹6.3K Cr
₹8.1K Cr
₹10.1K Cr
₹11.4K Cr
₹12.4K Cr
₹14.3K Cr
₹16.4K Cr
₹18.4K Cr
₹19.7K Cr
₹22.6K Cr
Biocon Ltd · BIOCON
₹4.5K Cr
₹5.0K Cr
₹6.4K Cr
₹8.2K Cr
₹9.2K Cr
₹10.7K Cr
₹36.8K Cr
₹38.6K Cr
₹40.5K Cr
₹43.5K Cr
Cipla Ltd · CIPLA
₹11.2K Cr
₹10.9K Cr
₹10.3K Cr
₹10.5K Cr
₹10.5K Cr
₹10.4K Cr
₹10.3K Cr
₹10.8K Cr
₹11.6K Cr
₹14.5K Cr
Dr Reddys Laboratories Ltd · DRREDDY
₹10.3K Cr
₹10.4K Cr
₹10.1K Cr
₹8.4K Cr
₹9.8K Cr
₹9.4K Cr
₹10.2K Cr
₹11.8K Cr
₹20.7K Cr
₹23.5K Cr
Glenmark Pharmaceuticals Ltd · GLENMARK
₹3.5K Cr
₹4.2K Cr
₹5.1K Cr
₹6.3K Cr
₹6.5K Cr
₹6.9K Cr
₹6.6K Cr
₹4.9K Cr
₹5.3K Cr
₹6.8K Cr
Ipca Laboratories Ltd · IPCALAB
₹2.1K Cr
₹2.0K Cr
₹2.0K Cr
₹2.2K Cr
₹2.3K Cr
₹2.7K Cr
₹2.9K Cr
₹4.9K Cr
₹4.9K Cr
₹5.4K Cr
Lupin Ltd · LUPIN
₹13.2K Cr
₹13.0K Cr
₹12.7K Cr
₹8.9K Cr
₹8.9K Cr
₹8.5K Cr
₹9.6K Cr
₹9.7K Cr
₹10.2K Cr
₹12.0K Cr
Mankind Pharma Ltd · MANKIND
—
—
—
₹1.9K Cr
₹2.0K Cr
₹4.3K Cr
₹4.8K Cr
₹4.8K Cr
₹19.8K Cr
₹19.7K Cr
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹20.5K Cr
₹21.3K Cr
₹23.2K Cr
₹24.1K Cr
₹23.1K Cr
₹24.0K Cr
₹29.0K Cr
₹28.6K Cr
₹29.2K Cr
₹35.9K Cr
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹4.2K Cr
₹8.5K Cr
₹8.4K Cr
₹8.2K Cr
₹8.0K Cr
₹7.1K Cr
₹8.9K Cr
₹8.5K Cr
₹8.4K Cr
₹33.8K Cr
Zydus Lifesciences Ltd · ZYDUSLIFE
₹7.3K Cr
₹8.0K Cr
₹13.0K Cr
₹13.0K Cr
₹12.9K Cr
₹12.9K Cr
₹12.7K Cr
₹14.8K Cr
₹15.8K Cr
₹27.8K Cr
Operating cash flow · fiscal-year history
Showing the 12 largest of 43 companies with a series here. The remaining 31 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
₹471 Cr
₹266 Cr
₹780 Cr
₹585 Cr
₹1.3K Cr
₹1.1K Cr
₹1.7K Cr
₹1.9K Cr
₹1.9K Cr
₹2.0K Cr
Aurobindo Pharma Ltd · AUROPHARMA
₹3.3K Cr
₹2.0K Cr
₹1.7K Cr
₹4.4K Cr
₹3.3K Cr
₹5.0K Cr
₹2.4K Cr
₹2.4K Cr
₹3.9K Cr
₹5.5K Cr
Biocon Ltd · BIOCON
₹640 Cr
₹662 Cr
₹1.2K Cr
₹1.3K Cr
₹1.2K Cr
₹1.2K Cr
₹1.9K Cr
₹3.0K Cr
₹4.1K Cr
₹2.0K Cr
Cipla Ltd · CIPLA
₹2.4K Cr
₹1.5K Cr
₹1.7K Cr
₹3.1K Cr
₹3.8K Cr
₹3.3K Cr
₹3.2K Cr
₹4.1K Cr
₹5.0K Cr
₹3.9K Cr
Dr Reddys Laboratories Ltd · DRREDDY
₹2.1K Cr
₹1.8K Cr
₹2.9K Cr
₹3.0K Cr
₹3.6K Cr
₹2.8K Cr
₹5.9K Cr
₹4.5K Cr
₹4.6K Cr
₹5.7K Cr
Glenmark Pharmaceuticals Ltd · GLENMARK
₹657 Cr
₹1.6K Cr
₹1.3K Cr
₹1.4K Cr
₹1.1K Cr
₹1.1K Cr
₹625 Cr
₹-265 Cr
₹-828 Cr
₹3.4K Cr
Ipca Laboratories Ltd · IPCALAB
₹282 Cr
₹341 Cr
₹501 Cr
₹570 Cr
₹1.1K Cr
₹856 Cr
₹806 Cr
₹945 Cr
₹1.3K Cr
₹1.1K Cr
Lupin Ltd · LUPIN
₹4.1K Cr
₹1.8K Cr
₹1.7K Cr
₹1.5K Cr
₹1.8K Cr
₹367 Cr
₹1.9K Cr
₹3.6K Cr
₹3.0K Cr
₹7.3K Cr
Mankind Pharma Ltd · MANKIND
—
—
—
₹1.1K Cr
₹1.1K Cr
₹920 Cr
₹1.8K Cr
₹2.2K Cr
₹2.4K Cr
₹3.1K Cr
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹7.1K Cr
₹3.9K Cr
₹2.2K Cr
₹6.6K Cr
₹6.2K Cr
₹9.0K Cr
₹5.0K Cr
₹12.1K Cr
₹14.1K Cr
₹12.4K Cr
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹1.0K Cr
₹894 Cr
₹1.8K Cr
₹1.4K Cr
₹2.0K Cr
₹1.8K Cr
₹2.4K Cr
₹3.3K Cr
₹2.6K Cr
₹3.0K Cr
Zydus Lifesciences Ltd · ZYDUSLIFE
₹1.3K Cr
₹919 Cr
₹1.3K Cr
₹2.5K Cr
₹3.3K Cr
₹2.1K Cr
₹2.7K Cr
₹3.2K Cr
₹6.8K Cr
₹2.1K Cr
CAPEX · reported cash flow · fiscal-year history
Showing the 12 largest of 43 companies with a series here. The remaining 31 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
₹575 Cr
₹712 Cr
₹551 Cr
₹501 Cr
₹190 Cr
₹359 Cr
₹75 Cr
₹325 Cr
₹725 Cr
₹1.1K Cr
Aurobindo Pharma Ltd · AUROPHARMA
₹1.7K Cr
₹2.4K Cr
₹2.7K Cr
₹2.2K Cr
₹2.1K Cr
₹3.0K Cr
₹3.4K Cr
₹3.5K Cr
₹3.0K Cr
₹4.7K Cr
Biocon Ltd · BIOCON
₹754 Cr
₹923 Cr
₹1.8K Cr
₹2.3K Cr
₹1.7K Cr
₹2.3K Cr
₹27.2K Cr
₹3.4K Cr
₹3.5K Cr
₹5.0K Cr
Cipla Ltd · CIPLA
₹1.1K Cr
₹1.1K Cr
₹679 Cr
₹1.4K Cr
₹1.0K Cr
₹1.0K Cr
₹976 Cr
₹1.6K Cr
₹1.9K Cr
₹4.1K Cr
Dr Reddys Laboratories Ltd · DRREDDY
₹3.9K Cr
₹1.3K Cr
₹822 Cr
₹-577 Cr
₹2.6K Cr
₹809 Cr
₹2.1K Cr
₹3.1K Cr
₹10.6K Cr
₹4.9K Cr
Glenmark Pharmaceuticals Ltd · GLENMARK
₹590 Cr
₹991 Cr
₹1.2K Cr
₹1.6K Cr
₹704 Cr
₹873 Cr
₹284 Cr
₹-1.2K Cr
₹936 Cr
₹2.1K Cr
Ipca Laboratories Ltd · IPCALAB
₹108 Cr
₹126 Cr
₹162 Cr
₹396 Cr
₹324 Cr
₹649 Cr
₹429 Cr
₹2.4K Cr
₹390 Cr
₹929 Cr
Lupin Ltd · LUPIN
₹2.7K Cr
₹880 Cr
₹613 Cr
₹-2.9K Cr
₹956 Cr
₹1.2K Cr
₹1.9K Cr
₹1.3K Cr
₹1.8K Cr
₹3.2K Cr
Mankind Pharma Ltd · MANKIND
—
—
—
—
₹238 Cr
₹2.4K Cr
₹838 Cr
₹404 Cr
₹15.6K Cr
₹803 Cr
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹3.7K Cr
₹2.3K Cr
₹3.7K Cr
₹2.9K Cr
₹1.1K Cr
₹3.0K Cr
₹7.6K Cr
₹2.1K Cr
₹3.2K Cr
₹9.6K Cr
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹613 Cr
₹4.7K Cr
₹481 Cr
₹534 Cr
₹367 Cr
₹-239 Cr
₹2.5K Cr
₹421 Cr
₹721 Cr
₹26.5K Cr
Zydus Lifesciences Ltd · ZYDUSLIFE
₹3.0K Cr
₹1.3K Cr
₹5.6K Cr
₹667 Cr
₹669 Cr
₹711 Cr
₹531 Cr
₹2.8K Cr
₹2.0K Cr
₹13.4K Cr
Free cash flow · fiscal-year history
Showing the 12 largest of 43 companies with a series here. The remaining 31 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
₹-104 Cr
₹-446 Cr
₹229 Cr
₹84 Cr
₹1.1K Cr
₹752 Cr
₹1.6K Cr
₹1.6K Cr
₹1.2K Cr
₹828 Cr
Aurobindo Pharma Ltd · AUROPHARMA
₹1.6K Cr
₹-415 Cr
₹-1.1K Cr
₹2.2K Cr
₹1.2K Cr
₹2.0K Cr
₹-993 Cr
₹-1.0K Cr
₹944 Cr
₹822 Cr
Biocon Ltd · BIOCON
₹-114 Cr
₹-261 Cr
₹-660 Cr
₹-1.1K Cr
₹-552 Cr
₹-1.2K Cr
₹-25.4K Cr
₹-467 Cr
₹540 Cr
₹-3.0K Cr
Cipla Ltd · CIPLA
₹1.3K Cr
₹384 Cr
₹1.0K Cr
₹1.7K Cr
₹2.7K Cr
₹2.3K Cr
₹2.3K Cr
₹2.6K Cr
₹3.1K Cr
₹-175 Cr
Dr Reddys Laboratories Ltd · DRREDDY
₹-1.8K Cr
₹543 Cr
₹2.0K Cr
₹3.6K Cr
₹955 Cr
₹2.0K Cr
₹3.8K Cr
₹1.5K Cr
₹-5.9K Cr
₹784 Cr
Glenmark Pharmaceuticals Ltd · GLENMARK
₹67 Cr
₹657 Cr
₹81 Cr
₹-207 Cr
₹427 Cr
₹236 Cr
₹341 Cr
₹893 Cr
₹-1.8K Cr
₹1.4K Cr
Ipca Laboratories Ltd · IPCALAB
₹174 Cr
₹215 Cr
₹339 Cr
₹174 Cr
₹766 Cr
₹207 Cr
₹377 Cr
₹-1.4K Cr
₹931 Cr
₹213 Cr
Lupin Ltd · LUPIN
₹1.5K Cr
₹871 Cr
₹1.1K Cr
₹4.3K Cr
₹866 Cr
₹-873 Cr
₹-49 Cr
₹2.4K Cr
₹1.2K Cr
₹4.2K Cr
Mankind Pharma Ltd · MANKIND
—
—
—
—
₹899 Cr
₹-1.5K Cr
₹975 Cr
₹1.7K Cr
₹-13.2K Cr
₹2.3K Cr
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹3.4K Cr
₹1.6K Cr
₹-1.5K Cr
₹3.7K Cr
₹5.0K Cr
₹6.0K Cr
₹-2.7K Cr
₹10.0K Cr
₹10.9K Cr
₹2.8K Cr
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹396 Cr
₹-3.8K Cr
₹1.3K Cr
₹859 Cr
₹1.6K Cr
₹2.0K Cr
₹-172 Cr
₹2.8K Cr
₹1.9K Cr
₹-23.5K Cr
Zydus Lifesciences Ltd · ZYDUSLIFE
₹-1.7K Cr
₹-332 Cr
₹-4.3K Cr
₹1.8K Cr
₹2.6K Cr
₹1.4K Cr
₹2.2K Cr
₹395 Cr
₹4.8K Cr
₹-11.3K Cr
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Influx Healthtech Ltd has the lowest Gross debt among the 43 Pharma - Formulators companies compared here, at ₹0 crore. Accent Microcell Ltd is next at ₹1 crore. Sun Pharmaceutical Industries Ltd has the lowest Net debt at ₹28,890 crore net cash, so level and change sit with different companies.
What the numbers say: Sun Pharmaceutical Industries Ltd has the clearest covered balance-sheet capacity with ₹28,890 crore net cash and gross debt of ₹4,627 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderInflux Healthtech Ltd · ₹0 crore
Gap100% versus #2 · Accent Microcell Ltd
Persistence2/2 recent comparable periods
Coverage43/43 companies · 599 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
1Influx Healthtech Ltd INFLUX⚠ unverified₹0 Cr
2Accent Microcell Ltd ACCENTMIC⚠ unverified₹1 Cr
3Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified₹2 Cr
4J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM₹4 Cr
5Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified₹4 Cr
Net debtlowest net debt
1Sun Pharmaceutical Industries Ltd SUNPHARMA₹-28.9K Cr
2Cipla Ltd CIPLA₹-9.4K Cr
3Aurobindo Pharma Ltd AUROPHARMA₹-2.5K Cr
4Natco Pharma Ltd NATCOPHARM₹-1.4K Cr
5Lupin Ltd LUPIN₹-1.3K Cr
Debt and balance-sheet capacity · company comparison
43/43 level · 32/43 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 |
|---|---|---|---|
| Biocon Ltd BIOCON | ₹15.4K Cr | ₹11.6K Cr | Mar 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | ₹15.0K Cr | ₹12.7K Cr | Mar 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | ₹12.5K Cr | ₹7.5K Cr | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | ₹8.1K Cr | ₹-2.5K Cr | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | ₹7.7K Cr | ₹-1.0K Cr | Jun 2026 |
| Lupin Ltd LUPIN | ₹6.6K Cr | ₹-1.3K Cr | Mar 2026 |
| Mankind Pharma Ltd MANKIND | ₹6.3K Cr | ₹4.1K Cr | Mar 2026 |
| Sun Pharmaceutical Industries Ltd SUNPHARMA | ₹4.6K Cr | ₹-28.9K Cr | Mar 2026 |
| ERIS Lifesciences Ltd ERIS | ₹2.4K Cr | — | Mar 2026 |
| Wockhardt Ltd WOCKPHARMA | ₹2.2K Cr | ₹1.6K Cr | Mar 2026 |
| Alkem Laboratories Ltd ALKEM | ₹2.0K Cr | — | Mar 2026 |
| Strides Pharma Science Ltd STAR | ₹1.8K Cr | ₹1.5K Cr | Mar 2026 |
| Emcure Pharmaceuticals Ltd EMCURE | ₹1.6K Cr | — | Mar 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | ₹1.4K Cr | ₹1.2K Cr | Mar 2026 |
| Indoco Remedies Ltd INDOCO | ₹1.1K Cr | — | Mar 2026 |
| Ipca Laboratories Ltd IPCALAB | ₹809 Cr | — | Mar 2026 |
| Natco Pharma Ltd NATCOPHARM | ₹714 Cr | ₹-1.4K Cr | Mar 2026 |
| Cipla Ltd CIPLA | ₹614 Cr | ₹-9.4K Cr | Jun 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | ₹594 Cr | ₹-582 Cr | Mar 2026 |
| Gufic BioSciences Ltd GUFICBIO | ₹405 Cr | ₹329 Cr | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | ₹343 Cr | ₹-647 Cr | Mar 2026 |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | ₹333 Cr | ₹-174 Cr | Mar 2026 |
| Rubicon Research Ltd RUBICON | ₹311 Cr | ₹-35 Cr | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | ₹260 Cr | ₹-405 Cr | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | ₹249 Cr | ₹211 Cr | Jun 2026 |
| Fredun Pharmaceuticals Ltd 539730 | ₹222 Cr | — | Mar 2026 |
| Corona Remedies Ltd CORONA | ₹165 Cr | ₹136 Cr | Mar 2026 |
| Akums Drugs & Pharmaceuticals Ltd AKUMS | ₹157 Cr | — | Mar 2026 |
| Bharat Parenterals Ltd 541096 | ₹146 Cr | — | Mar 2026 |
| Kwality Pharmaceuticals Ltd 539997 | ₹130 Cr | — | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | ₹127 Cr | ₹87 Cr | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | ₹89 Cr | ₹20 Cr | Mar 2026 |
| Bliss GVS Pharma Ltd BLISSGVS | ₹22 Cr | — | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | ₹20 Cr | ₹-254 Cr | Mar 2026 |
| Syncom Healthcare Ltd SYNCOM | ₹19 Cr | — | Mar 2023 |
| Suven Life Sciences Ltd SUVEN | ₹17 Cr | ₹-501 Cr | Mar 2026 |
| FDC Ltd FDC | ₹15 Cr | ₹-508 Cr | Mar 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | ₹5 Cr | ₹-1.0K Cr | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | ₹4 Cr | ₹-1.2K Cr | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | ₹4 Cr | ₹-237 Cr | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | ₹2 Cr | ₹-177 Cr | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | ₹1 Cr | ₹-19 Cr | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | ₹0 Cr | ₹-4 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Showing the 12 largest of 43 companies with a series here. The remaining 31 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
—
—
₹2.7K Cr
—
—
—
₹1.4K Cr
—
—
—
₹1.4K Cr
—
—
—
₹1.4K Cr
—
₹2.4K Cr
—
₹2.0K Cr
—
Aurobindo Pharma Ltd · AUROPHARMA
₹4.8K Cr
₹4.8K Cr
₹2.9K Cr
₹2.9K Cr
₹4.5K Cr
₹4.5K Cr
₹5.3K Cr
₹5.3K Cr
₹6.6K Cr
₹6.6K Cr
₹6.6K Cr
₹6.6K Cr
₹8.4K Cr
₹8.4K Cr
₹8.3K Cr
₹8.3K Cr
₹7.8K Cr
₹7.8K Cr
₹8.1K Cr
—
Biocon Ltd · BIOCON
₹4.7K Cr
₹4.7K Cr
₹5.1K Cr
₹5.1K Cr
₹5.9K Cr
₹5.9K Cr
₹18.0K Cr
₹18.0K Cr
₹18.3K Cr
₹18.3K Cr
₹16.3K Cr
₹16.3K Cr
₹16.8K Cr
₹16.8K Cr
₹18.4K Cr
₹18.4K Cr
₹16.5K Cr
₹16.5K Cr
₹15.4K Cr
—
Cipla Ltd · CIPLA
₹1.4K Cr
₹1.4K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹803 Cr
₹803 Cr
₹961 Cr
₹961 Cr
₹559 Cr
₹560 Cr
₹461 Cr
₹461 Cr
₹438 Cr
₹439 Cr
₹467 Cr
₹467 Cr
₹614 Cr
—
Dr Reddys Laboratories Ltd · DRREDDY
₹3.0K Cr
₹2.8K Cr
₹3.4K Cr
₹2.5K Cr
₹1.7K Cr
₹1.8K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹2.0K Cr
₹2.0K Cr
₹3.1K Cr
₹4.9K Cr
₹5.1K Cr
₹4.7K Cr
₹4.9K Cr
₹5.9K Cr
₹6.8K Cr
₹7.7K Cr
—
Glenmark Pharmaceuticals Ltd · GLENMARK
₹3.9K Cr
₹3.9K Cr
₹4.0K Cr
₹4.0K Cr
₹4.2K Cr
₹4.2K Cr
₹4.6K Cr
₹4.6K Cr
₹5.2K Cr
₹5.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.8K Cr
₹1.8K Cr
₹2.5K Cr
₹2.5K Cr
₹1.2K Cr
₹1.2K Cr
₹594 Cr
—
Ipca Laboratories Ltd · IPCALAB
—
—
₹807 Cr
—
—
—
₹1.5K Cr
—
—
—
₹1.4K Cr
—
—
—
₹1.4K Cr
—
₹1.3K Cr
—
₹809 Cr
—
Lupin Ltd · LUPIN
₹3.6K Cr
₹3.6K Cr
₹4.2K Cr
₹4.2K Cr
₹4.4K Cr
₹4.4K Cr
₹4.5K Cr
₹4.5K Cr
₹3.8K Cr
₹3.8K Cr
₹2.9K Cr
₹2.9K Cr
₹3.4K Cr
₹3.4K Cr
₹5.4K Cr
₹5.4K Cr
₹6.2K Cr
₹6.2K Cr
₹6.6K Cr
—
Mankind Pharma Ltd · MANKIND
—
—
₹873 Cr
—
—
₹176 Cr
₹170 Cr
₹170 Cr
₹179 Cr
₹179 Cr
₹207 Cr
₹207 Cr
₹482 Cr
₹482 Cr
₹8.5K Cr
₹8.5K Cr
₹8.4K Cr
₹8.4K Cr
₹6.3K Cr
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹1.8K Cr
₹1.8K Cr
₹1.3K Cr
₹1.3K Cr
₹4.4K Cr
₹4.4K Cr
₹6.9K Cr
₹6.9K Cr
₹1.9K Cr
₹1.9K Cr
₹3.3K Cr
₹3.3K Cr
₹2.6K Cr
₹2.6K Cr
₹2.4K Cr
₹2.4K Cr
₹5.2K Cr
₹5.2K Cr
₹4.6K Cr
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹4.4K Cr
₹4.4K Cr
₹4.1K Cr
₹4.1K Cr
₹4.1K Cr
₹4.1K Cr
₹5.4K Cr
₹5.4K Cr
₹4.5K Cr
₹4.5K Cr
₹4.0K Cr
₹4.0K Cr
₹3.1K Cr
₹3.1K Cr
₹3.2K Cr
₹3.3K Cr
₹2.8K Cr
₹2.8K Cr
₹15.0K Cr
—
Zydus Lifesciences Ltd · ZYDUSLIFE
₹4.7K Cr
₹4.7K Cr
₹4.2K Cr
₹4.2K Cr
₹2.4K Cr
₹2.4K Cr
₹1.2K Cr
₹1.2K Cr
₹192 Cr
₹192 Cr
₹804 Cr
₹822 Cr
₹191 Cr
₹191 Cr
₹3.2K Cr
₹3.2K Cr
₹9.6K Cr
₹9.6K Cr
₹12.5K Cr
—
Net debt · reported quarter history
Showing the 12 largest of 32 companies with a series here. The remaining 20 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Ajanta Pharma Ltd · AJANTPHARM
₹-542 Cr
₹-542 Cr
₹-293 Cr
₹-293 Cr
₹-587 Cr
₹-587 Cr
₹-801 Cr
₹-801 Cr
₹-443 Cr
₹-443 Cr
₹-423 Cr
₹-423 Cr
₹-709 Cr
₹-709 Cr
₹-563 Cr
₹-563 Cr
₹-694 Cr
₹-694 Cr
₹-405 Cr
—
Aurobindo Pharma Ltd · AUROPHARMA
₹269 Cr
₹269 Cr
₹-1.7K Cr
₹-1.7K Cr
₹-2.0K Cr
₹-2.0K Cr
₹-947 Cr
₹-947 Cr
₹-500 Cr
₹-500 Cr
₹322 Cr
₹322 Cr
₹1.6K Cr
₹1.6K Cr
₹62 Cr
₹27 Cr
₹-1.1K Cr
₹-1.1K Cr
₹-2.5K Cr
—
Biocon Ltd · BIOCON
₹1.7K Cr
₹1.7K Cr
₹2.2K Cr
₹2.2K Cr
₹1.9K Cr
₹1.9K Cr
₹14.3K Cr
₹14.3K Cr
₹14.5K Cr
₹14.5K Cr
₹13.7K Cr
₹13.7K Cr
₹14.1K Cr
₹14.1K Cr
₹13.8K Cr
₹13.8K Cr
₹10.4K Cr
₹10.4K Cr
₹11.6K Cr
—
Cipla Ltd · CIPLA
₹-2.2K Cr
₹-2.2K Cr
₹-3.8K Cr
₹-3.1K Cr
₹-3.1K Cr
₹-3.1K Cr
₹-5.5K Cr
₹-5.6K Cr
₹-3.9K Cr
₹-3.9K Cr
₹-7.2K Cr
₹-7.2K Cr
₹-8.2K Cr
₹-8.2K Cr
₹-10.2K Cr
₹-10.2K Cr
₹-10.1K Cr
₹-10.1K Cr
₹-9.4K Cr
—
Dr Reddys Laboratories Ltd · DRREDDY
₹569 Cr
₹-704 Cr
₹-1.1K Cr
₹-995 Cr
₹-1.0K Cr
₹-3.1K Cr
₹-4.8K Cr
₹-4.8K Cr
₹-5.5K Cr
₹-5.3K Cr
₹-6.1K Cr
₹-6.4K Cr
₹-1.5K Cr
₹-883 Cr
₹-1.1K Cr
₹-1.8K Cr
₹-1.1K Cr
₹-1.5K Cr
₹-1.0K Cr
—
Glenmark Pharmaceuticals Ltd · GLENMARK
₹2.5K Cr
₹2.5K Cr
₹2.5K Cr
₹2.6K Cr
₹3.0K Cr
₹3.0K Cr
₹3.4K Cr
₹3.2K Cr
₹4.1K Cr
₹4.1K Cr
₹-433 Cr
₹-428 Cr
₹-39 Cr
₹-39 Cr
₹791 Cr
₹768 Cr
₹-1.5K Cr
₹-1.5K Cr
₹-582 Cr
—
J B Chemicals & Pharmaceuticals Ltd · JBCHEPHARM
₹-712 Cr
₹-712 Cr
₹-2 Cr
₹-2 Cr
₹178 Cr
₹178 Cr
₹303 Cr
₹303 Cr
₹57 Cr
₹57 Cr
₹-82 Cr
₹-82 Cr
₹-317 Cr
₹-317 Cr
₹-422 Cr
₹-422 Cr
₹-553 Cr
₹-553 Cr
₹-1.2K Cr
—
Lupin Ltd · LUPIN
₹247 Cr
₹247 Cr
₹2.2K Cr
₹2.2K Cr
₹3.2K Cr
₹3.2K Cr
₹2.8K Cr
₹2.8K Cr
₹2.1K Cr
₹2.1K Cr
₹887 Cr
₹887 Cr
₹531 Cr
₹531 Cr
₹2.5K Cr
₹2.5K Cr
₹-65 Cr
₹-65 Cr
₹-1.3K Cr
—
Mankind Pharma Ltd · MANKIND
—
—
₹-395 Cr
—
—
₹-975 Cr
₹-1.4K Cr
₹-1.4K Cr
₹-2.1K Cr
₹-2.1K Cr
₹-3.2K Cr
₹-3.2K Cr
₹-4.2K Cr
₹-4.2K Cr
₹6.0K Cr
₹6.0K Cr
₹4.9K Cr
₹4.9K Cr
₹4.1K Cr
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
₹-8.8K Cr
₹-8.8K Cr
₹-11.4K Cr
₹-11.4K Cr
₹-9.5K Cr
₹-9.5K Cr
₹-8.2K Cr
₹-8.2K Cr
₹-12.9K Cr
₹-12.9K Cr
₹-15.8K Cr
₹-15.8K Cr
₹-17.6K Cr
₹-17.6K Cr
₹-23.8K Cr
₹-23.8K Cr
₹-22.7K Cr
₹-22.7K Cr
₹-28.9K Cr
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
₹3.7K Cr
₹3.7K Cr
₹3.5K Cr
₹3.5K Cr
₹3.3K Cr
₹3.3K Cr
₹4.7K Cr
₹4.7K Cr
₹3.7K Cr
₹3.7K Cr
₹3.0K Cr
₹3.0K Cr
₹1.9K Cr
₹1.9K Cr
₹2.6K Cr
₹2.6K Cr
₹2.0K Cr
₹2.0K Cr
₹12.7K Cr
—
Zydus Lifesciences Ltd · ZYDUSLIFE
₹1.0K Cr
₹1.0K Cr
₹247 Cr
₹247 Cr
₹698 Cr
₹698 Cr
₹3 Cr
₹3 Cr
₹-1.3K Cr
₹-1.3K Cr
₹-531 Cr
₹-536 Cr
₹-2.3K Cr
₹-2.3K Cr
₹-2.4K Cr
₹-2.4K Cr
₹2.6K Cr
₹2.6K Cr
₹7.5K Cr
—
06 · compare level, then change
Return On Capital Employed
Influx Healthtech Ltd has the highest ROCE among the 43 Pharma - Formulators companies compared here, at 40%. Glenmark Pharmaceuticals Ltd is next at 39.8%. Suven Life Sciences Ltd has the highest ROCE change at +104.4 percentage points, so level and change sit with different companies. 43 of 43 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Influx Healthtech Ltd leads ROCE at 40%, 0.2 percentage points above Glenmark Pharmaceuticals Ltd. Suven Life Sciences Ltd has the strongest latest improvement at +104.4 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.
LeaderInflux Healthtech Ltd · 40%
Gap0.5% versus #2 · Glenmark Pharmaceuticals Ltd
Persistence1/1 recent comparable periods
Coverage43/43 companies · 433 observations
Investor read: Influx Healthtech 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
1Influx Healthtech Ltd INFLUX⚠ unverified40%
2Glenmark Pharmaceuticals Ltd GLENMARK40%
3Ajanta Pharma Ltd AJANTPHARM35%
4Corona Remedies Ltd CORONA33%
5Lupin Ltd LUPIN30%
ROCE changefastest improvers
1Suven Life Sciences Ltd SUVEN+104.4 pp
2Glenmark Pharmaceuticals Ltd GLENMARK+10.7 pp
3Lupin Ltd LUPIN+7.1 pp
4Kwality Pharmaceuticals Ltd 539997+6.0 pp
5Influx Healthtech Ltd INFLUX⚠ unverified+5.7 pp
Return on capital · company comparison
43/43 level · 42/43 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: Alkem Laboratories Ltd (ALKEM) — its two data sources disagree by up to 5.6% on reported income across 14 comparable periods, so its derived ratios are withheld; Ipca Laboratories Ltd (IPCALAB) — its two data sources disagree by up to 5,809% on reported income across 15 comparable periods, so its derived ratios are withheld; Emcure Pharmaceuticals Ltd (EMCURE) — its two data sources disagree by up to 7.2% on reported income across 12 comparable periods, so its derived ratios are withheld; ERIS Lifesciences Ltd (ERIS) — its two data sources disagree by up to 11% on reported income across 14 comparable periods, so its derived ratios are withheld; Akums Drugs & Pharmaceuticals Ltd (AKUMS) — its two data sources disagree by up to 4.7% on reported income across 12 comparable periods, so its derived ratios are withheld; Bliss GVS Pharma Ltd (BLISSGVS) — its two data sources disagree by up to 73% on reported income across 15 comparable periods, so its derived ratios are withheld; Indoco Remedies Ltd (INDOCO) — its two data sources disagree by up to 7.8% 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 |
|---|---|---|---|
| Corona Remedies Ltd CORONA | 30% | −0.3 pp | Mar 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | 30% | +10.7 pp | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | 28% | −0.3 pp | Mar 2026 |
| Lupin Ltd LUPIN | 27% | +7.1 pp | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | 27% | +5.7 pp | Mar 2026 |
| Rubicon Research Ltd RUBICON | 24% | −9.9 pp | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | 21% | −2.5 pp | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | 20% | −6.0 pp | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | 20% | +0.1 pp | Mar 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | 19% | −1.4 pp | Mar 2026 |
| Strides Pharma Science Ltd STAR | 18% | −1.9 pp | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | 16% | +0.3 pp | Mar 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | 16% | −5.3 pp | Mar 2026 |
| Sun Pharmaceutical Industries Ltd SUNPHARMA | 16% | −1.3 pp | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | 15% | −1.0 pp | Mar 2026 |
| Gufic BioSciences Ltd GUFICBIO | 15% | −0.4 pp | Mar 2026 |
| Cipla Ltd CIPLA | 14% | −5.6 pp | Jun 2026 |
| Mankind Pharma Ltd MANKIND | 13% | −5.4 pp | Mar 2026 |
| Natco Pharma Ltd NATCOPHARM | 13% | −12.5 pp | Mar 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | 13% | −0.7 pp | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | 13% | −1.8 pp | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | 12% | −7.9 pp | Jun 2026 |
| FDC Ltd FDC | 11% | −0.6 pp | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | 11% | −2.2 pp | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | 9.8% | −3.0 pp | Mar 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | 9.6% | −19.1 pp | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | 8.9% | −7.8 pp | Jun 2026 |
| Wockhardt Ltd WOCKPHARMA | 7.0% | +3.6 pp | Mar 2026 |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | 4.2% | — | Mar 2026 |
| Biocon Ltd BIOCON | 3.5% | −0.1 pp | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | 3.0% | −5.0 pp | Mar 2026 |
| Suven Life Sciences Ltd SUVEN | -49% | +104.4 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Showing the 12 largest of 32 companies with a series here. The remaining 20 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Ajanta Pharma Ltd · AJANTPHARM
25%
—
24%
—
20%
—
19%
—
23%
27%
28%
32%
29%
32%
28%
32%
27%
31%
28%
—
Aurobindo Pharma Ltd · AUROPHARMA
17%
—
13%
—
10%
—
8.8%
9.7%
10%
14%
13%
17%
15%
17%
14%
16%
14%
16%
13%
—
Biocon Ltd · BIOCON
6.3%
—
6.7%
—
5.9%
—
3.6%
7.9%
4.2%
8.6%
4.4%
8.2%
4.0%
6.2%
3.6%
4.2%
3.7%
3.8%
3.5%
—
Cipla Ltd · CIPLA
17%
—
16%
—
15%
—
17%
—
19%
22%
20%
23%
20%
24%
19%
24%
18%
19%
14%
—
Dr Reddys Laboratories Ltd · DRREDDY
17%
17%
18%
18%
20%
22%
23%
25%
25%
23%
23%
21%
20%
20%
20%
19%
18%
16%
12%
—
Glenmark Pharmaceuticals Ltd · GLENMARK
16%
—
15%
—
12%
—
—
—
8.9%
-2.3%
19%
9.2%
20%
19%
19%
14%
30%
17%
30%
—
J B Chemicals & Pharmaceuticals Ltd · JBCHEPHARM
25%
—
21%
—
20%
—
20%
—
22%
26%
24%
27%
24%
27%
24%
27%
23%
27%
21%
—
Lupin Ltd · LUPIN
11%
—
9.2%
—
8.2%
—
6.2%
12%
13%
18%
18%
22%
21%
24%
20%
27%
23%
31%
27%
—
Mankind Pharma Ltd · MANKIND
—
—
3.0%
—
—
19%
20%
—
21%
27%
28%
28%
18%
28%
19%
19%
9.0%
18%
13%
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
14%
—
16%
—
15%
—
15%
—
15%
18%
15%
19%
16%
20%
17%
19%
16%
20%
16%
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
20%
—
20%
—
20%
—
22%
24%
23%
27%
27%
29%
28%
29%
29%
30%
29%
30%
9.6%
—
Zydus Lifesciences Ltd · ZYDUSLIFE
11%
—
12%
—
12%
—
14%
—
18%
19%
19%
25%
21%
25%
21%
24%
16%
22%
16%
—
ROCE change · reported quarter history
Showing the 12 largest of 31 companies with a series here. The remaining 19 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Ajanta Pharma Ltd · AJANTPHARM
—
—
—
—
−5.1 pp
—
−4.7 pp
—
+2.9 pp
—
+8.9 pp
—
+6.7 pp
+5.4 pp
+0.5 pp
−0.7 pp
−2.8 pp
−0.9 pp
−0.3 pp
—
Aurobindo Pharma Ltd · AUROPHARMA
—
—
—
—
−6.4 pp
—
−4.0 pp
—
−0.1 pp
—
+4.6 pp
+7.4 pp
+4.8 pp
+2.3 pp
+0.9 pp
−1.2 pp
−1.1 pp
−1.0 pp
−1.8 pp
—
Biocon Ltd · BIOCON
—
—
—
—
−0.4 pp
—
−3.1 pp
—
−1.7 pp
—
+0.8 pp
+0.3 pp
−0.2 pp
−2.4 pp
−0.8 pp
−4.0 pp
−0.3 pp
−2.4 pp
−0.1 pp
—
Cipla Ltd · CIPLA
—
—
—
—
−2.5 pp
—
+0.4 pp
—
+3.8 pp
—
+3.0 pp
—
+0.9 pp
+2.4 pp
−0.3 pp
+0.4 pp
−1.4 pp
−4.9 pp
−5.6 pp
—
Dr Reddys Laboratories Ltd · DRREDDY
—
—
—
—
+2.2 pp
+4.7 pp
+4.5 pp
+7.9 pp
+5.1 pp
+1.0 pp
+0.1 pp
−4.0 pp
−4.4 pp
−3.0 pp
−2.8 pp
−2.4 pp
−2.3 pp
−3.8 pp
−7.9 pp
—
Glenmark Pharmaceuticals Ltd · GLENMARK
—
—
—
—
−3.9 pp
—
—
—
−2.8 pp
—
—
—
+10.8 pp
+21.6 pp
−0.2 pp
+4.3 pp
+10.4 pp
−1.9 pp
+10.7 pp
—
J B Chemicals & Pharmaceuticals Ltd · JBCHEPHARM
—
—
—
—
−5.1 pp
—
−1.6 pp
—
+2.6 pp
—
+4.4 pp
—
+1.6 pp
+0.7 pp
−0.5 pp
+0.1 pp
−1.1 pp
+0.5 pp
−2.5 pp
—
Lupin Ltd · LUPIN
—
—
—
—
−2.8 pp
—
−3.0 pp
—
+5.2 pp
—
+11.7 pp
+9.9 pp
+7.3 pp
+6.1 pp
+2.2 pp
+5.0 pp
+2.2 pp
+6.8 pp
+7.1 pp
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
+16.7 pp
—
—
+8.0 pp
+7.8 pp
—
−3.1 pp
+1.2 pp
−9.0 pp
−9.3 pp
−8.5 pp
−10.7 pp
−5.4 pp
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
—
—
—
—
+0.4 pp
—
−0.2 pp
—
+0.6 pp
—
+0.1 pp
—
+0.9 pp
+2.5 pp
+1.7 pp
+0.4 pp
+0.2 pp
−0.1 pp
−1.3 pp
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
—
—
—
—
−0.6 pp
—
+2.0 pp
—
+3.5 pp
—
+4.3 pp
+4.8 pp
+4.2 pp
+2.5 pp
+2.0 pp
+0.8 pp
+1.3 pp
+1.1 pp
−19.1 pp
—
Zydus Lifesciences Ltd · ZYDUSLIFE
—
—
—
—
+1.3 pp
—
+1.7 pp
—
+5.7 pp
—
+4.9 pp
—
+2.9 pp
+6.6 pp
+2.2 pp
−0.8 pp
−4.6 pp
−3.2 pp
−5.3 pp
—
07 · compare level, then change
Valuation Against Growth & Quality
Lupin Ltd has the lowest Guarded PEG among the 43 Pharma - Formulators companies compared here, at 0.54×. Natco Pharma Ltd is next at 0.76×. Natco Pharma Ltd has the lowest P/E at 11.6×, so level and change sit with different companies. 21 of 43 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Lupin Ltd has the lowest comparable Guarded PEG at 0.54×, 28.9% below Natco Pharma Ltd. Only 21 of 43 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderLupin Ltd · 0.54×
Gap28.9% versus #2 · Natco Pharma Ltd
Persistence0/8 recent comparable periods
Coverage21/43 companies · 167 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
1Lupin Ltd LUPIN0.5
2Natco Pharma Ltd NATCOPHARM0.8
3Biocon Ltd BIOCON0.8
4FDC Ltd FDC0.9
5Caplin Point Laboratories Ltd CAPLIPOINT1.0
P/Elowest P/E
1Natco Pharma Ltd NATCOPHARM11.6
2Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified13.2
3Strides Pharma Science Ltd STAR16.6
4Lupin Ltd LUPIN19.1
5Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified19.3
Valuation · company comparison
21/43 level · 39/43 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 |
|---|---|---|---|
| Gufic BioSciences Ltd GUFICBIO | 4.8 | 56.2 | Mar 2026 |
| Sun Pharmaceutical Industries Ltd SUNPHARMA | 3.8 | 35.5 | Mar 2026 |
| Mankind Pharma Ltd MANKIND | 2.8 | 45.3 | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | 2.7 | 21.6 | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | 2.5 | 34.6 | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | 2.3 | 42.6 | Mar 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | 2.3 | 62.6 | Mar 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | 1.7 | 20.0 | Mar 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | 1.4 | 22.6 | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | 1.4 | 26.1 | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | 1.4 | 20.5 | Mar 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | 1.4 | 17.7 | Mar 2026 |
| Cipla Ltd CIPLA | 1.3 | 30.6 | Jun 2026 |
| Corona Remedies Ltd CORONA | 1.2 | 51.6 | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | 1.2 | 26.9 | Jun 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | 1.0 | 19.3 | Mar 2026 |
| FDC Ltd FDC | 0.9 | 22.5 | Mar 2026 |
| Biocon Ltd BIOCON | 0.8 | 57.6 | Mar 2026 |
| Natco Pharma Ltd NATCOPHARM | 0.8 | 11.3 | Mar 2026 |
| Lupin Ltd LUPIN | 0.5 | 21.4 | Mar 2026 |
| Fredun Pharmaceuticals Ltd 539730 | — | 25.5 | Mar 2026 |
| Kwality Pharmaceuticals Ltd 539997 | — | 25.3 | Mar 2026 |
| Bharat Parenterals Ltd 541096 | — | 50.6 | Mar 2026 |
| Alkem Laboratories Ltd ALKEM | — | 26.6 | Mar 2026 |
| Ipca Laboratories Ltd IPCALAB | — | 38.1 | Mar 2026 |
| Emcure Pharmaceuticals Ltd EMCURE | — | 34.6 | Mar 2026 |
| Wockhardt Ltd WOCKPHARMA | — | 177.8 | Mar 2026 |
| Rubicon Research Ltd RUBICON | — | 59.1 | Mar 2026 |
| ERIS Lifesciences Ltd ERIS | — | 41.2 | Mar 2026 |
| Akums Drugs & Pharmaceuticals Ltd AKUMS | — | 23.0 | Mar 2026 |
| Strides Pharma Science Ltd STAR | — | 15.8 | Mar 2026 |
| Bliss GVS Pharma Ltd BLISSGVS | — | 20.8 | Mar 2026 |
| Indoco Remedies Ltd INDOCO | — | 125.3 | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | — | 29.0 | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | — | 25.7 | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | — | 13.3 | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | — | 24.2 | Jun 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | — | 23.6 | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | — | 44.8 | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | — | 18.7 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Ajanta Pharma Ltd · AJANTPHARM
0.8
3.2
1.4
2.3
4.0
—
—
1.5
—
—
2.0
2.0
1.3
1.3
1.5
2.1
3.0
2.7
2.5
—
Aurobindo Pharma Ltd · AUROPHARMA
1.4
—
—
—
—
—
—
—
—
5.0
0.8
—
—
0.4
0.7
2.7
—
—
—
—
Biocon Ltd · BIOCON
—
10.8
4.1
—
2.6
—
—
—
—
3.5
—
0.8
—
—
—
—
—
—
—
—
Cipla Ltd · CIPLA
—
—
—
—
—
3.4
—
0.6
1.1
0.9
0.6
1.5
0.8
0.5
0.9
2.3
—
1.3
—
—
Dr Reddys Laboratories Ltd · DRREDDY
—
—
—
—
—
—
—
—
0.3
1.8
0.5
0.8
1.2
—
—
—
—
—
—
—
Glenmark Pharmaceuticals Ltd · GLENMARK
1.0
—
—
—
—
0.6
—
—
—
—
—
—
—
—
—
—
—
1.4
—
—
J B Chemicals & Pharmaceuticals Ltd · JBCHEPHARM
0.9
—
—
—
—
1.5
—
7.1
2.5
2.1
1.9
1.4
1.6
1.8
1.6
2.2
2.3
2.3
—
—
Lupin Ltd · LUPIN
—
1.0
—
—
—
—
—
—
—
—
0.8
—
—
—
0.5
—
—
—
—
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
—
—
3.0
0.9
—
1.1
0.9
1.5
2.8
—
—
—
—
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
—
—
—
0.7
2.5
4.2
5.1
—
2.1
2.5
2.4
0.9
2.3
1.6
1.4
2.5
3.8
—
—
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
3.6
7.4
—
—
—
3.3
—
9.4
2.9
1.0
1.2
2.9
2.2
4.9
5.4
3.0
2.9
2.3
—
—
Zydus Lifesciences Ltd · ZYDUSLIFE
—
—
—
—
—
0.9
—
—
1.5
0.8
—
—
1.8
0.6
—
1.1
0.6
1.0
1.4
—
P/E · reported quarter history
Showing the 12 largest of 40 companies with a series here. The remaining 28 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
29.3
25.4
24.4
21.8
29.9
32.7
39.5
41.3
36.7
41.2
34.9
31.6
34.4
30.2
27.0
27.1
28.6
28.2
26.6
—
Aurobindo Pharma Ltd · AUROPHARMA
12.9
13.6
14.8
11.1
11.8
11.4
14.1
22.1
26.6
26.8
22.7
21.6
24.7
20.4
19.0
18.7
18.7
20.5
21.6
—
Biocon Ltd · BIOCON
64.8
64.1
59.7
54.2
44.6
48.4
39.2
46.8
51.3
41.3
26.5
41.3
28.4
30.2
52.6
43.8
113.3
102.7
57.6
—
Cipla Ltd · CIPLA
29.7
28.5
30.8
28.7
35.8
33.5
27.3
28.2
29.8
28.3
30.6
28.1
30.4
26.4
23.3
23.6
22.5
22.4
21.1
30.6
Dr Reddys Laboratories Ltd · DRREDDY
45.8
41.6
27.5
32.9
24.1
22.7
21.1
19.1
19.7
19.0
19.6
19.1
20.2
21.7
17.8
19.2
18.4
18.4
19.2
26.9
Glenmark Pharmaceuticals Ltd · GLENMARK
14.2
14.4
11.7
10.1
11.5
12.5
16.2
26.7
34.5
47.4
46.8
-26.5
-54.0
-258.2
41.5
34.2
41.8
22.6
22.6
—
Ipca Laboratories Ltd · IPCALAB
30.4
27.9
27.5
25.6
32.2
34.9
39.2
40.0
48.3
54.7
57.6
48.5
60.4
60.8
48.1
39.6
38.9
36.9
38.1
—
Lupin Ltd · LUPIN
25.4
25.2
—
—
453.1
-102.9
68.5
95.5
54.9
45.2
41.1
38.6
44.6
38.7
32.2
26.9
23.7
22.3
21.4
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
—
49.9
57.4
51.0
53.4
44.6
53.0
54.4
48.0
47.6
53.6
51.8
45.3
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
26.9
27.6
28.6
26.2
29.6
30.4
29.5
29.2
31.4
33.7
41.5
36.5
44.3
39.8
35.3
35.4
33.2
35.7
35.5
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
41.6
43.8
38.1
41.2
43.8
43.8
41.9
51.8
51.4
58.1
61.5
59.2
70.4
66.2
58.8
58.7
59.7
59.6
62.6
—
Zydus Lifesciences Ltd · ZYDUSLIFE
23.7
19.7
14.8
16.9
19.0
21.9
24.1
26.0
21.9
22.3
31.2
28.2
26.0
22.9
19.7
21.4
21.1
18.2
17.7
—
08 · compare level, then change
Enterprise Value & Book Value
Natco Pharma Ltd has the lowest EV/EBITDA among the 43 Pharma - Formulators companies compared here, at 7×. Lincoln Pharmaceuticals Ltd is next at 8.8×. Lincoln Pharmaceuticals Ltd has the lowest P/BV at 1.53×, so level and change sit with different companies. 41 of 43 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Natco Pharma Ltd leads ev/ebitda at 7×; Lincoln Pharmaceuticals Ltd leads p/bv at 1.53×.
LeaderNatco Pharma Ltd · 7×
Gap20.5% versus #2 · Lincoln Pharmaceuticals Ltd
Persistence0/8 recent comparable periods
Coverage41/43 companies · 654 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
1Natco Pharma Ltd NATCOPHARM7.0
2Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified8.8
3Strides Pharma Science Ltd STAR9.8
4Bliss GVS Pharma Ltd BLISSGVS10.1
5Aurobindo Pharma Ltd AUROPHARMA10.2
P/BVlowest P/BV
1Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified1.5
2Natco Pharma Ltd NATCOPHARM1.8
3Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified2.0
4Biocon Ltd BIOCON2.1
5Zim Laboratories Ltd ZIMLAB⚠ unverified2.2
Enterprise and book valuation · company comparison
41/43 level · 43/43 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 |
|---|---|---|---|
| Wockhardt Ltd WOCKPHARMA | 37.7 | 4.2 | Mar 2026 |
| Rubicon Research Ltd RUBICON | 36.6 | 19.7 | Mar 2026 |
| Torrent Pharmaceuticals Ltd TORNTPHARM | 36.0 | 17.1 | Mar 2026 |
| Corona Remedies Ltd CORONA | 32.4 | 14.4 | Mar 2026 |
| Bharat Parenterals Ltd 541096 | 28.9 | 2.0 | Mar 2026 |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARM | 27.6 | 8.5 | Mar 2026 |
| Indoco Remedies Ltd INDOCO | 26.7 | 1.6 | Mar 2026 |
| Mankind Pharma Ltd MANKIND | 23.7 | 5.5 | Mar 2026 |
| Ajanta Pharma Ltd AJANTPHARM | 23.7 | 8.1 | Mar 2026 |
| Gufic BioSciences Ltd GUFICBIO | 23.0 | 4.5 | Mar 2026 |
| Sun Pharmaceutical Industries Ltd SUNPHARMA | 21.6 | 5.5 | Mar 2026 |
| Ipca Laboratories Ltd IPCALAB | 20.3 | 5.4 | Mar 2026 |
| Alkem Laboratories Ltd ALKEM | 19.0 | 4.8 | Mar 2026 |
| Biocon Ltd BIOCON | 18.8 | 1.9 | Mar 2026 |
| ERIS Lifesciences Ltd ERIS | 18.8 | 5.9 | Mar 2026 |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | 18.6 | 4.3 | Mar 2026 |
| Cipla Ltd CIPLA | 18.1 | 3.4 | Jun 2026 |
| Emcure Pharmaceuticals Ltd EMCURE | 18.1 | 6.6 | Mar 2026 |
| Influx Healthtech Ltd INFLUX⚠ unverified | 17.7 | 5.2 | Mar 2026 |
| RPG Life Sciences Ltd RPGLIFE | 17.0 | 5.8 | Mar 2026 |
| Accent Microcell Ltd ACCENTMIC⚠ unverified | 16.0 | 3.6 | Mar 2026 |
| Dr Reddys Laboratories Ltd DRREDDY | 14.7 | 3.4 | Jun 2026 |
| Kwality Pharmaceuticals Ltd 539997 | 14.1 | 5.0 | Mar 2026 |
| FDC Ltd FDC | 14.0 | 2.1 | Mar 2026 |
| Lupin Ltd LUPIN | 13.8 | 5.4 | Mar 2026 |
| Caplin Point Laboratories Ltd CAPLIPOINT | 13.4 | 3.8 | Mar 2026 |
| Fredun Pharmaceuticals Ltd 539730 | 13.1 | 5.8 | Mar 2026 |
| Kilitch Drugs (India) Ltd KILITCH⚠ unverified | 12.9 | 1.8 | Mar 2026 |
| Glenmark Pharmaceuticals Ltd GLENMARK | 12.8 | 6.4 | Mar 2026 |
| Bajaj Healthcare Ltd BAJAJHCARE⚠ unverified | 12.2 | 1.8 | Jun 2026 |
| Alembic Pharmaceuticals Ltd APLLTD | 12.1 | 2.5 | Mar 2026 |
| Marksans Pharma Ltd MARKSANS | 11.9 | 2.8 | Mar 2026 |
| Zydus Lifesciences Ltd ZYDUSLIFE | 11.4 | 3.6 | Mar 2026 |
| Zim Laboratories Ltd ZIMLAB⚠ unverified | 10.4 | 1.2 | Mar 2026 |
| Akums Drugs & Pharmaceuticals Ltd AKUMS | 10.3 | 2.4 | Mar 2026 |
| Aurobindo Pharma Ltd AUROPHARMA | 10.2 | 2.2 | Mar 2026 |
| Bliss GVS Pharma Ltd BLISSGVS | 10.1 | 2.0 | Mar 2026 |
| Strides Pharma Science Ltd STAR | 9.8 | 3.1 | Mar 2026 |
| Lincoln Pharmaceuticals Ltd LINCOLN⚠ unverified | 8.8 | 1.6 | Mar 2026 |
| Natco Pharma Ltd NATCOPHARM | 7.0 | 2.0 | Mar 2026 |
| Suven Life Sciences Ltd SUVEN | — | 10.5 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Showing the 12 largest of 40 companies with a series here. The remaining 28 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
21.3
18.8
19.4
16.1
21.0
21.1
23.1
23.1
20.7
25.9
23.0
22.9
26.1
22.4
19.6
19.5
20.6
20.4
19.0
—
Aurobindo Pharma Ltd · AUROPHARMA
7.5
8.0
8.5
6.6
6.7
6.3
7.5
10.3
12.3
12.6
11.1
11.0
12.7
10.6
9.8
9.1
9.0
9.7
10.2
—
Biocon Ltd · BIOCON
25.7
24.9
23.2
21.1
19.4
17.6
12.7
13.0
15.8
13.5
11.3
14.2
11.5
11.6
13.2
14.0
17.3
17.7
18.8
—
Cipla Ltd · CIPLA
16.3
15.6
16.8
15.7
19.1
17.9
14.3
14.7
16.1
15.8
17.8
16.9
18.5
16.3
15.0
15.5
14.8
14.7
13.4
18.1
Dr Reddys Laboratories Ltd · DRREDDY
20.9
19.8
15.2
16.8
13.8
12.6
12.3
11.7
11.8
11.5
11.9
12.0
12.7
13.2
10.7
11.3
10.9
11.2
11.7
14.7
Glenmark Pharmaceuticals Ltd · GLENMARK
8.2
7.6
6.3
5.9
5.7
6.1
6.8
10.4
14.3
15.5
27.9
18.8
21.4
18.8
13.7
19.4
23.0
12.6
12.8
—
Ipca Laboratories Ltd · IPCALAB
21.1
18.9
18.1
16.4
18.6
18.3
19.4
18.1
21.0
24.4
24.9
19.6
25.6
26.9
22.9
19.2
19.3
19.2
20.3
—
Lupin Ltd · LUPIN
14.2
34.8
40.2
73.7
74.3
26.4
21.1
23.6
22.5
20.8
21.6
19.6
23.6
21.7
18.5
16.4
15.1
14.2
13.8
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
—
31.8
35.7
32.8
35.1
30.1
35.8
38.0
30.0
26.9
29.7
26.0
23.7
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
17.7
18.4
19.1
17.2
20.2
20.9
20.1
20.2
21.6
22.2
27.6
25.5
30.7
27.9
24.8
23.1
20.8
21.8
21.6
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
21.9
22.3
19.1
20.1
21.3
21.3
20.1
23.6
23.6
26.2
28.3
29.0
34.3
32.6
30.0
31.1
32.3
33.2
36.0
—
Zydus Lifesciences Ltd · ZYDUSLIFE
17.5
14.9
11.4
11.2
11.8
13.1
14.9
15.3
13.4
13.7
19.4
19.2
17.2
14.6
12.7
13.4
13.2
12.3
11.4
—
P/BV · reported quarter history
Showing the 12 largest of 41 companies with a series here. The remaining 29 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Alkem Laboratories Ltd · ALKEM
6.5
5.2
5.2
4.9
4.3
3.9
4.7
4.9
4.8
6.3
6.0
6.6
7.2
5.7
5.1
5.7
5.4
5.0
4.8
—
Aurobindo Pharma Ltd · AUROPHARMA
1.9
1.8
1.8
1.4
1.2
1.0
1.2
1.7
2.0
2.2
2.3
2.6
3.0
2.4
2.2
2.2
1.9
2.0
2.2
—
Biocon Ltd · BIOCON
5.7
5.5
5.3
5.1
3.6
3.3
2.9
3.8
1.8
1.6
1.7
2.4
2.2
2.0
1.9
2.1
1.9
2.0
1.9
—
Cipla Ltd · CIPLA
4.3
3.9
4.2
4.1
4.1
4.0
3.5
3.9
4.1
4.0
4.9
5.1
5.1
4.3
4.1
3.9
3.9
3.7
3.0
3.4
Dr Reddys Laboratories Ltd · DRREDDY
4.5
4.4
3.9
4.1
3.5
3.4
4.0
4.5
4.0
3.8
4.0
4.6
4.0
3.8
3.1
3.8
3.1
2.9
3.0
3.4
Glenmark Pharmaceuticals Ltd · GLENMARK
2.0
1.7
1.5
1.5
1.1
1.2
1.4
2.1
2.5
2.6
2.9
3.7
6.1
5.3
5.2
6.2
6.3
5.9
6.4
—
Ipca Laboratories Ltd · IPCALAB
6.5
5.2
4.8
4.8
4.0
3.7
3.7
3.4
4.1
4.6
5.1
4.9
5.9
6.2
5.7
5.3
5.0
4.9
5.4
—
Lupin Ltd · LUPIN
3.0
3.6
2.9
2.1
2.6
2.8
2.4
3.4
4.3
4.5
5.6
5.9
7.1
6.5
5.9
6.2
5.1
4.9
5.4
—
Mankind Pharma Ltd · MANKIND
—
—
—
—
—
—
—
9.0
8.3
9.4
10.9
9.1
11.1
10.9
9.5
10.0
7.2
5.9
5.5
—
Sun Pharmaceutical Industries Ltd · SUNPHARMA
4.0
4.1
4.4
4.3
4.3
4.5
4.9
5.3
5.0
5.0
6.5
6.5
7.3
6.5
6.0
6.4
5.3
5.3
5.5
—
Torrent Pharmaceuticals Ltd · TORNTPHARM
9.0
8.9
7.5
8.3
8.7
8.6
8.6
10.7
10.5
11.6
13.1
15.2
17.2
15.4
14.6
16.5
15.9
15.3
17.1
—
Zydus Lifesciences Ltd · ZYDUSLIFE
4.4
3.1
2.3
2.8
2.4
2.5
3.0
3.5
3.5
3.7
5.4
6.2
5.5
4.5
4.1
5.0
4.1
3.6
3.6
—
09 · let price answer last
Market action
Bliss GVS Pharma Ltd has the strongest one-year price move in Pharma - Formulators at +200.8%. It also leads on Mansfield relative strength against NIFTY at +105%. 34 of 40 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 - Formulators comparison names 7 specific ways its own evidence can mislead, all listed below. 1 of the 43 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 8 draw at least one figure from a second feed with too little overlap to cross-check.
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 has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 8 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 7 companies are 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 43 companies in the canonical Pharma - Formulators 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 |
|---|---|---|---|---|---|
| Sun Pharmaceutical Industries Ltd SUNPHARMAAHEAD19/26 WEEKS | ₹4.7 L Cr | ₹1,941 | 2026-07-19 | Mar 2026 | Cross-checked |
| Torrent Pharmaceuticals Ltd TORNTPHARMAHEAD22/26 WEEKS | ₹1.9 L Cr | ₹4,962 | 2026-07-19 | Mar 2026 | Cross-checked |
| Cipla Ltd CIPLAAHEAD | ₹1.1 L Cr | ₹1,411 | 2026-07-19 | Jun 2026 | Cross-checked |
| Zydus Lifesciences Ltd ZYDUSLIFEAHEAD23/26 WEEKS | ₹1.1 L Cr | ₹1,109 | 2026-07-19 | Mar 2026 | Cross-checked |
| Lupin Ltd LUPIN21/26 WEEKS | ₹1.1 L Cr | ₹2,370 | 2026-07-19 | Mar 2026 | Cross-checked |
| Mankind Pharma Ltd MANKINDAHEAD19/26 WEEKS | ₹1.0 L Cr | ₹2,507 | 2026-07-19 | Mar 2026 | Cross-checked |
| Dr Reddys Laboratories Ltd DRREDDY18/26 WEEKS | ₹96.1K Cr | ₹1,152 | 2026-07-19 | Jun 2026 | Cross-checked |
| Aurobindo Pharma Ltd AUROPHARMAAHEAD24/26 WEEKS | ₹89.0K Cr | ₹1,532 | 2026-07-19 | Mar 2026 | Cross-checked |
| Biocon Ltd BIOCONAHEAD | ₹70.7K Cr | ₹434 | 2026-07-19 | Mar 2026 | Cross-checked |
| Alkem Laboratories Ltd ALKEMAHEAD | ₹67.4K Cr | ₹5,634 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Glenmark Pharmaceuticals Ltd GLENMARK20/26 WEEKS | ₹61.9K Cr | ₹2,192 | 2026-07-19 | Mar 2026 | Cross-checked |
| Ipca Laboratories Ltd IPCALABAHEAD20/26 WEEKS | ₹44.7K Cr | ₹1,763 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Ajanta Pharma Ltd AJANTPHARMAHEAD22/26 WEEKS | ₹42.1K Cr | ₹3,370 | 2026-07-19 | Mar 2026 | Cross-checked |
| J B Chemicals & Pharmaceuticals Ltd JBCHEPHARMAHEAD23/26 WEEKS | ₹38.7K Cr | ₹2,409 | 2026-07-19 | Mar 2026 | Cross-checked |
| Emcure Pharmaceuticals Ltd EMCUREAHEAD26/26 WEEKS | ₹35.7K Cr | ₹1,881 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Wockhardt Ltd WOCKPHARMAAHEAD20/26 WEEKS | ₹30.0K Cr | ₹1,849 | 2026-07-19 | Mar 2026 | Cross-checked |
| Rubicon Research Ltd RUBICONAHEAD26/26 WEEKS | ₹25.1K Cr | ₹1,520 | 2026-07-19 | Mar 2026 | Cross-checked |
| ERIS Lifesciences Ltd ERISLAGGING, FUNDAMENTALS UP | ₹19.4K Cr | ₹1,401 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Caplin Point Laboratories Ltd CAPLIPOINTAHEAD | ₹18.8K Cr | ₹2,467 | 2026-07-19 | Mar 2026 | Cross-checked |
| Natco Pharma Ltd NATCOPHARM18/26 WEEKS | ₹16.5K Cr | ₹921 | 2026-07-19 | Mar 2026 | Cross-checked |
| Alembic Pharmaceuticals Ltd APLLTDAHEAD | ₹15.7K Cr | ₹798 | 2026-07-19 | Mar 2026 | Cross-checked |
| Corona Remedies Ltd CORONAAHEAD19/26 WEEKS | ₹12.9K Cr | ₹2,113 | 2026-07-19 | Mar 2026 | Cross-checked |
| Marksans Pharma Ltd MARKSANSAHEAD19/26 WEEKS | ₹11.2K Cr | ₹246 | 2026-07-19 | Mar 2026 | Cross-checked |
| Akums Drugs & Pharmaceuticals Ltd AKUMSAHEAD25/26 WEEKS | ₹10.8K Cr | ₹687 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Strides Pharma Science Ltd STAR22/26 WEEKS | ₹9.4K Cr | ₹1,020 | 2026-07-19 | Mar 2026 | Cross-checked |
| Suven Life Sciences Ltd SUVENAHEAD | ₹8.9K Cr | ₹316 | 2026-07-19 | Mar 2026 | Cross-checked |
| FDC Ltd FDCAHEAD | ₹6.7K Cr | ₹413 | 2026-07-19 | Mar 2026 | Cross-checked |
| Bliss GVS Pharma Ltd BLISSGVSAHEAD26/26 WEEKS | ₹4.9K Cr | ₹465 | 2026-07-19 | Mar 2026 | Second feed withheld |
| RPG Life Sciences Ltd RPGLIFEAHEAD | ₹4.9K Cr | ₹2,937 | 2026-07-19 | Mar 2026 | Cross-checked |
| Gufic BioSciences Ltd GUFICBIOAHEAD | ₹3.8K Cr | ₹379 | 2026-07-19 | Mar 2026 | Cross-checked |
| Kwality Pharmaceuticals Ltd 539997 | ₹2.9K Cr | ₹2,782 | 2026-07-19 | Mar 2026 | Primary source only |
| Sai Parenterals Ltd SAIPARENT⚠ unverified | ₹2.4K Cr | ₹536 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Indoco Remedies Ltd INDOCOAHEAD | ₹2.2K Cr | ₹243 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Fredun Pharmaceuticals Ltd 539730AHEAD23/26 WEEKS | ₹1.5K Cr | ₹895 | 2026-07-19 | Mar 2026 | Primary source only |
| Amrutanjan Health Care Ltd AMRUTANJAN⚠ unverified | ₹1.5K Cr | ₹509 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Accent Microcell Ltd ACCENTMICAHEAD26/26 WEEKS⚠ unverified | ₹1.2K Cr | ₹495 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Lincoln Pharmaceuticals Ltd LINCOLN19/26 WEEKS⚠ unverified | ₹1.2K Cr | ₹580 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Bajaj Healthcare Ltd BAJAJHCAREAHEAD⚠ unverified | ₹1.1K Cr | ₹323 | 2026-07-19 | Jun 2026 | Includes unverified figures |
| Bharat Parenterals Ltd 541096AHEAD20/26 WEEKS | ₹990 Cr | ₹1,436 | 2026-07-19 | Mar 2026 | Primary source only |
| Influx Healthtech Ltd INFLUXAHEAD23/26 WEEKS⚠ unverified | ₹672 Cr | ₹290 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Zim Laboratories Ltd ZIMLABAHEAD22/26 WEEKS⚠ unverified | ₹646 Cr | ₹120 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Kilitch Drugs (India) Ltd KILITCHAHEAD⚠ unverified | ₹629 Cr | ₹180 | 2026-07-19 | Mar 2026 | Includes unverified figures |
| Syncom Healthcare Ltd SYNCOM | ₹17 Cr | ₹4.2 | 2021-06-30 · not currently priced | Mar 2023 | Primary source only |
How each company's sources stand: 8 of 43 companies draw 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. 7 of 43 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Alkem Laboratories Ltd (ALKEM) — its two data sources disagree by up to 5.6% on reported income across 14 comparable periods, so its derived ratios are withheld; Ipca Laboratories Ltd (IPCALAB) — its two data sources disagree by up to 5,809% on reported income across 15 comparable periods, so its derived ratios are withheld; Emcure Pharmaceuticals Ltd (EMCURE) — its two data sources disagree by up to 7.2% on reported income across 12 comparable periods, so its derived ratios are withheld; ERIS Lifesciences Ltd (ERIS) — its two data sources disagree by up to 11% on reported income across 14 comparable periods, so its derived ratios are withheld; Akums Drugs & Pharmaceuticals Ltd (AKUMS) — its two data sources disagree by up to 4.7% on reported income across 12 comparable periods, so its derived ratios are withheld; Bliss GVS Pharma Ltd (BLISSGVS) — its two data sources disagree by up to 73% on reported income across 15 comparable periods, so its derived ratios are withheld; Indoco Remedies Ltd (INDOCO) — its two data sources disagree by up to 7.8% 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 43 Pharma - Formulators 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. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
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 standing24 cross-checked · 12 unverified · 7 withheld, of 43 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 - Formulators company comparison FAQs
These 18 answers restate the Pharma - Formulators comparison above in question form. Every one is computed from the same 43 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 - Formulators index?
The Nifty Pharma - Formulators index tracks India's listed Pharma - Formulators companies as a single basket. This page follows the same 43 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Pharma - Formulators sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Pharma - Formulators stocks in India?
Ranked by this page's four-factor score, Lupin Ltd places first among 43 listed Pharma - Formulators companies, followed by Kwality Pharmaceuticals 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 - Formulators stocks are listed in India?
This comparison covers 43 listed Pharma - Formulators 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 - Formulators company is the biggest?
Sun Pharmaceutical Industries Ltd is the largest, with trailing-twelve-month revenue of ₹58,462 crore, ahead of Aurobindo Pharma Ltd at ₹33,653 crore. That covers 41 of 43 companies with comparable reporting through Mar 2026.
Which Pharma - Formulators company is growing fastest?
Rubicon Research Ltd has the fastest revenue growth at 36.6% year on year, across 39 of 43 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 - Formulators company has the best profit margins?
ERIS Lifesciences Ltd has the highest operating margin at 36%, from 42 of 43 comparable companies. Wockhardt Ltd shows the biggest recent improvement, at +14 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Pharma - Formulators company makes the most profit?
Sun Pharmaceutical Industries Ltd earns the most, at ₹11,509 crore of trailing-twelve-month net profit, from 41 of 43 comparable companies. Rubicon Research Ltd has the fastest profit growth at 84.3%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Pharma - Formulators company earns the highest return on capital?
Influx Healthtech Ltd leads on return on capital employed at 40%, across 43 of 43 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 - Formulators stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Lupin Ltd screens cheapest at 0.54×. Only 21 of 43 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 - Formulators company has the strongest balance sheet?
Influx Healthtech Ltd carries the lowest comparable gross debt at ₹0 crore, from 43 of 43 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 - Formulators stock has the strongest price momentum?
Bliss GVS Pharma 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 - Formulators company scores highest for research priority?
Lupin Ltd scores 73.1 out of 100 with 88.6% evidence confidence, from 30.1 points on growth and earnings, 19.4 on capital efficiency, 16.3 on valuation and 7.3 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 - Formulators companies does this comparison cover, and over what period?
It compares 43 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 - Formulators sector?
The 43 Pharma - Formulators companies on this page carry ₹18,53,020 crore of combined market value. Sun Pharmaceutical Industries Ltd is the largest at ₹4,65,735 crore, about 25% 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 - Formulators sector's P/E ratio?
The median price-to-earnings ratio across the 43 Pharma - Formulators companies on this page is 32.7×, measured on the 39 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 - Formulators sector performing?
34 of the 40 covered Pharma - Formulators 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.