Sector Alpha Week of 2026-09-28
Not SEBI Registered !! Not Investment advice !!
20-quarter listed-company comparison

Pharma - API & CRAMS Stocks in India

Pharma - API & CRAMS: Syngene International Ltd owns the largest revenue base; Acutaas Chemicals Ltd has the fastest current growth.

The 5 Pharma - API & CRAMS companies listed in India are Acutaas Chemicals Ltd (₹26.3K Cr, the largest), Cohance Lifesciences Ltd, Syngene International Ltd and 2 more. 2 of 5 covered companies beat NIFTY 500 on relative strength. Readings are as of 28 Sep 2026.

All 5 Pharma - API & CRAMS Stocks in India (Sep 2026) — ranked by 4-Factor score

  1. 1Acutaas Chemicals Ltd₹26.3K Cr75.7/100Favorable setup · strongest on ROCE and profit growth
  2. 2Hikal Ltd₹2.7K Cr43.7/100Mixed-negative evidence · strongest on 13-week relative-strength change and relative strength versus sector
  3. 3Syngene International Ltd₹15.3K Cr32.1/100Adverse evidence · strongest on profitable quarters and sector-relative P/E
  4. 4Cohance Lifesciences Ltd₹17.6K Cr29.9/100Adverse evidence · strongest on 13-week relative-strength change and profitable quarters
  5. 5Dishman Carbogen Amcis Ltd₹2.6K Cr24.6/100Adverse evidence · strongest on ROCE improvement

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 25 Sep 2026. Not investment advice.

01 · the index people search for

Nifty Pharma - API & CRAMS Index — Constituents & Performance

All 5 listed Indian Pharma - API & CRAMS companies are named here, largest first — the same constituent set people search for as the Nifty Pharma - API & CRAMS index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

  1. Acutaas Chemicals Ltd₹26.3K Cr
  2. Cohance Lifesciences Ltd₹17.6K Cr
  3. Syngene International Ltd₹15.3K Cr
  4. Hikal Ltd₹2.7K Cr
  5. Dishman Carbogen Amcis Ltd₹2.6K Cr
02 · the sector itself · before any single company

How has Pharma - API & CRAMS moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 54% ahead of NIFTY 500. Earnings across its companies grew 14% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 24 weeks running.

LEADER · ahead 24w~Price and the fundamentals both up19 of 24 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑24w · 22/24 >200d (+4) · 19/24 lead (+5) · EPS 14/24↑

20020262025202420232022 446289 TRAILING 12-MONTH EPS · 100 AT THE START0100127Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingSep 2022 · trailing 12-month earnings per share at 85, against 100 at the start · no comparable year yet · 14 reportingDec 2022 · trailing 12-month earnings per share at 70, against 100 at the start · no comparable year yet · 14 reportingMar 2023 · trailing 12-month earnings per share at 65, against 100 at the start · no comparable year yet · 14 reportingJun 2023 · trailing 12-month earnings per share at 68, against 100 at the start · down 38.4% on a year ago · 16 reportingSep 2023 · trailing 12-month earnings per share at 83, against 100 at the start · down 19.3% on a year ago · 19 reportingDec 2023 · trailing 12-month earnings per share at 86, against 100 at the start · down 3.6% on a year ago · 19 reportingMar 2024 · trailing 12-month earnings per share at 84, against 100 at the start · down 2.3% on a year ago · 19 reportingJun 2024 · trailing 12-month earnings per share at 88, against 100 at the start · up 13.3% on a year ago · 19 reportingSep 2024 · trailing 12-month earnings per share at 98, against 100 at the start · up 6.4% on a year ago · 20 reportingDec 2024 · trailing 12-month earnings per share at 117, against 100 at the start · up 16.6% on a year ago · 20 reportingMar 2025 · trailing 12-month earnings per share at 113, against 100 at the start · up 36.9% on a year ago · 21 reportingJun 2025 · trailing 12-month earnings per share at 112, against 100 at the start · up 13.7% on a year ago · 21 reportingSep 2025 · trailing 12-month earnings per share at 114, against 100 at the start · up 13.7% on a year ago · 21 reportingDec 2025 · trailing 12-month earnings per share at 107, against 100 at the start · up 10.9% on a year ago · 21 reportingMar 2026 · trailing 12-month earnings per share at 119, against 100 at the start · up 17.2% on a year ago · 21 reportingJun 2026 · trailing 12-month earnings per share at 127, against 100 at the start · up 12.5% on a year ago · 21 reportingNot reported yet — earnings trail price by a quarter or two127 · Jun 26No earnings on file this far back — the price series reaches further than the filings do
20020262025202420232022 446289 TRAILING 12-MONTH EPS · 100 AT THE START0100127Jun 22Jun 23Jun 24Jun 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingSep 2022 · trailing 12-month earnings per share at 85, against 100 at the start · no comparable year yet · 14 reportingDec 2022 · trailing 12-month earnings per share at 70, against 100 at the start · no comparable year yet · 14 reportingMar 2023 · trailing 12-month earnings per share at 65, against 100 at the start · no comparable year yet · 14 reportingJun 2023 · trailing 12-month earnings per share at 68, against 100 at the start · down 38.4% on a year ago · 16 reportingSep 2023 · trailing 12-month earnings per share at 83, against 100 at the start · down 19.3% on a year ago · 19 reportingDec 2023 · trailing 12-month earnings per share at 86, against 100 at the start · down 3.6% on a year ago · 19 reportingMar 2024 · trailing 12-month earnings per share at 84, against 100 at the start · down 2.3% on a year ago · 19 reportingJun 2024 · trailing 12-month earnings per share at 88, against 100 at the start · up 13.3% on a year ago · 19 reportingSep 2024 · trailing 12-month earnings per share at 98, against 100 at the start · up 6.4% on a year ago · 20 reportingDec 2024 · trailing 12-month earnings per share at 117, against 100 at the start · up 16.6% on a year ago · 20 reportingMar 2025 · trailing 12-month earnings per share at 113, against 100 at the start · up 36.9% on a year ago · 21 reportingJun 2025 · trailing 12-month earnings per share at 112, against 100 at the start · up 13.7% on a year ago · 21 reportingSep 2025 · trailing 12-month earnings per share at 114, against 100 at the start · up 13.7% on a year ago · 21 reportingDec 2025 · trailing 12-month earnings per share at 107, against 100 at the start · up 10.9% on a year ago · 21 reportingMar 2026 · trailing 12-month earnings per share at 119, against 100 at the start · up 17.2% on a year ago · 21 reportingJun 2026 · trailing 12-month earnings per share at 127, against 100 at the start · up 12.5% on a year ago · 21 reportingNot reported yet — earnings trail price by a quarter or two127No earnings on file this far back — the price series reaches further than the filings do
Pharma - API & CRAMS, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 24 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Pharma - API & CRAMS outperforming NIFTY 500?

Pharma - API & CRAMS has underperformed NIFTY 500 by 11.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 0.1%. 2 of 5 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Acutaas Chemicals Ltd is the strongest against the sector itself at +39.4%.

+0.1%Sector vs NIFTY 500 · 13 weeks
-11.9%Sector vs NIFTY 500 · 52 weeks
2/5Stocks leading NIFTY 500
2/5Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

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

Pharma - API & CRAMS has underperformed NIFTY 500 by 11.9% over 52 weeks and 0.1% over 13 weeks. 2 of 5 covered companies beat NIFTY on Mansfield relative strength, while 2 of 5 beat the sector itself. Syngene International Ltd leads with revenue of ₹3,600 crore, based on 5 of 5 comparable companies through Jun 2026.

Companies
5
complete canonical membership
Combined market value
₹64.5K Cr
Acutaas Chemicals Ltd
Revenue growing
2/5
positive TTM year-on-year growth
Beating NIFTY 500
2/5
positive Mansfield relative strength
Comparing 5 of 5
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Acutaas Chemicals Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82.3% evidence confidence.
Hikal Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Acutaas Chemicals Ltd543349 75.7/100Favorable setup82% evidence 33.3/35 Revenue 41% · PAT 100% · OPM change 9 pp 95% evidence 20.9/25 ROCE 31.6% · OPM 34% 76% evidence 7.5/20 P/E 68.1× · PEG — 50% evidence 14.0/20 RS sector 39.4% · RS bench 41.3% · 1Y 121.9%6 of 6 weeks ahead to 2026-08-16 100% evidence
Exact sum: 33.3 + 20.9 + 7.5 + 14 = 75.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Hikal LtdHIKAL 43.7/100Mixed-negative evidence81% evidence BREAKING OUT 13.8/35 Revenue -5.4% · PAT -80% · OPM change 2.6 pp 74% evidence 5.0/25 ROCE 3.5% · OPM 9.2% 100% evidence 7.9/20 P/E 63.3× · PEG — 50% evidence 17.0/20 RS sector 2.7% · RS bench 5.3% · 1Y -19.2%7 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 5 + 7.9 + 17 = 43.7 · Decision use: Price leads the evidence: RS versus the benchmark is 5.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3Syngene International LtdSYNGENE 32.1/100Adverse evidence100% evidence BASING 9.8/35 Revenue -3.4% · PAT -56.4% · OPM change -11.3 pp 100% evidence 12.9/25 ROCE 10% · OPM 12.3% 100% evidence 7.9/20 P/E 51.6× · PEG 7.87 100% evidence 1.5/20 RS sector -23% · RS bench -21.1% · 1Y -43.1%0 of 12 weeks ahead 100% evidence
Exact sum: 9.8 + 12.9 + 7.9 + 1.5 = 32.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Cohance Lifesciences LtdCOHANCE 29.9/100Adverse evidence82% evidence BREAKING OUT 2.9/35 Revenue -19.8% · PAT -80% · OPM change -19.7 pp 95% evidence 9.4/25 ROCE 5.8% · OPM 0.3% 76% evidence 5.3/20 P/E 163× · PEG — 50% evidence 12.3/20 RS sector -1.6% · RS bench -0.8% · 1Y -49.5%5 of 12 weeks ahead 100% evidence
Exact sum: 2.9 + 9.4 + 5.3 + 12.3 = 29.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Dishman Carbogen Amcis LtdDCAL 24.6/100Adverse evidence87% evidence TURNING 11.6/35 Revenue 0.2% · PAT -80% · OPM change -11 pp 100% evidence 2.2/25 ROCE 3.1% · OPM 9% 100% evidence 5.5/20 P/E 145× · PEG 2.65 65% evidence 5.3/20 RS sector -17.3% · RS bench -15.3% · 1Y -44%2 of 11 weeks ahead 70% evidence
Exact sum: 11.6 + 2.2 + 5.5 + 5.3 = 24.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

Acutaas Chemicals Ltd has the strongest one-year price move in Pharma - API & CRAMS at +121.9%. It also leads on Mansfield relative strength against NIFTY at +41.3%. 2 of 5 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-25.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Pharma - API & CRAMS — the story behind the numbers

This is the written read behind the Pharma - API & CRAMS figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 22 Aug 2026. It also states what would change this read.

How old this read is: This read comes from our fortnightly sector read dated 22 Aug 2026 — 37 days old. The numbers above it are newer than the words here.

What would change this read

Quarterly profit stops beating its year-ago quarter — the June-2026 figure of Rs 2,497cr is not exceeded through FY27 — while the multiple stays near 63 times.

Sources: our fortnightly Pharma - API & CRAMS read, 22 Aug 2026.

07 · compare level, then change

Revenue Scale & Growth Durability

Syngene International Ltd has the highest Revenue among the 5 Pharma - API & CRAMS companies compared here, at ₹3,600 crore. Dishman Carbogen Amcis Ltd is next at ₹2,902 crore. Acutaas Chemicals Ltd has the highest Revenue growth at 41%, so level and change sit with different companies. Its Revenue series carries 20 reported observations across the 20-quarter window.

What the numbers say: Syngene International Ltd is the scale leader at ₹3,600 crore, 24.1% ahead of Dishman Carbogen Amcis Ltd. Acutaas Chemicals Ltd's growth is 41% from a ₹1,462 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderSyngene International Ltd · ₹3,600 crore
Gap24.1% versus #2 · Dishman Carbogen Amcis Ltd
Persistence5/8 recent comparable periods
Coverage5/5 companies · 90 observations

Investor read: Syngene International Ltd is the scale benchmark; Acutaas Chemicals Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Syngene International Ltd's growth falls below Acutaas Chemicals 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
1Syngene International Ltd SYNGENE₹3.6K Cr
2Dishman Carbogen Amcis Ltd DCAL₹2.9K Cr
3Cohance Lifesciences Ltd COHANCE₹2.1K Cr
4Hikal Ltd HIKAL₹1.7K Cr
5Acutaas Chemicals Ltd 543349₹1.5K Cr
Revenue growthfastest growers
1Acutaas Chemicals Ltd 54334941%
2Dishman Carbogen Amcis Ltd DCAL0.2%
3Syngene International Ltd SYNGENE-3.4%
4Hikal Ltd HIKAL-5.4%
5Cohance Lifesciences Ltd COHANCE-20%
Revenue · company comparison
5/5 level · 5/5 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Syngene International Ltd SYNGENE₹736 Cr-16%Jun 2026
Dishman Carbogen Amcis Ltd DCAL₹678 Cr-4.2%Jun 2026
Cohance Lifesciences Ltd COHANCE₹422 Cr-23%Jun 2026
Hikal Ltd HIKAL₹403 Cr5.9%Jun 2026
Acutaas Chemicals Ltd 543349₹330 Cr59%Jun 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Acutaas Chemicals Ltd · 543349

—
—
—
—
—
₹152 Cr
₹186 Cr
₹154 Cr
₹172 Cr
₹166 Cr
₹225 Cr
₹177 Cr
₹247 Cr
₹275 Cr
₹308 Cr
₹207 Cr
₹306 Cr
₹393 Cr
₹433 Cr
₹330 Cr

Cohance Lifesciences Ltd · COHANCE

—
—
—
—
—
₹354 Cr
₹369 Cr
₹348 Cr
₹231 Cr
₹220 Cr
₹253 Cr
₹488 Cr
₹604 Cr
₹676 Cr
₹840 Cr
₹549 Cr
₹556 Cr
₹545 Cr
₹619 Cr
₹422 Cr

Dishman Carbogen Amcis Ltd · DCAL

₹459 Cr
₹562 Cr
₹569 Cr
₹541 Cr
₹614 Cr
₹640 Cr
₹619 Cr
₹723 Cr
₹587 Cr
₹651 Cr
₹655 Cr
₹524 Cr
₹789 Cr
₹682 Cr
₹716 Cr
₹708 Cr
₹653 Cr
₹720 Cr
₹851 Cr
₹678 Cr

Hikal Ltd · HIKAL

₹469 Cr
₹515 Cr
₹502 Cr
₹379 Cr
₹559 Cr
₹540 Cr
₹545 Cr
₹388 Cr
₹435 Cr
₹448 Cr
₹514 Cr
₹407 Cr
₹453 Cr
₹448 Cr
₹552 Cr
₹380 Cr
₹319 Cr
₹494 Cr
₹519 Cr
₹403 Cr

Syngene International Ltd · SYNGENE

₹610 Cr
₹641 Cr
₹758 Cr
₹645 Cr
₹768 Cr
₹786 Cr
₹994 Cr
₹808 Cr
₹910 Cr
₹854 Cr
₹917 Cr
₹790 Cr
₹891 Cr
₹944 Cr
₹1.0K Cr
₹875 Cr
₹911 Cr
₹917 Cr
₹1.0K Cr
₹736 Cr

Revenue growth · reported quarter history

Acutaas Chemicals Ltd · 543349

—
—
—
—
—
—
—
—
—
9.2%
21%
15%
44%
66%
37%
17%
24%
43%
41%
59%

Cohance Lifesciences Ltd · COHANCE

—
—
—
—
—
—
—
—
—
-38%
-32%
40%
161%
207%
232%
13%
-8.0%
-19%
-26%
-23%

Dishman Carbogen Amcis Ltd · DCAL

—
—
—
-1.8%
34%
14%
8.8%
34%
-4.4%
1.7%
5.8%
-28%
34%
4.8%
9.3%
35%
-17%
5.6%
19%
-4.2%

Hikal Ltd · HIKAL

—
—
—
-17%
19%
4.9%
8.6%
2.4%
-22%
-17%
-5.7%
4.9%
4.1%
0.0%
7.5%
-6.5%
-30%
10%
-6.0%
5.9%

Syngene International Ltd · SYNGENE

—
—
—
8.4%
26%
23%
31%
25%
19%
8.6%
-7.8%
-2.3%
-2.1%
11%
11%
11%
2.2%
-2.8%
1.8%
-16%
08 · compare level, then change

Operating Economics & Margin Trend

Acutaas Chemicals Ltd has the highest OPM among the 5 Pharma - API & CRAMS companies compared here, at 34%. Syngene International Ltd is next at 12.3%. The same company also holds the highest Margin change, at +9 percentage points. 5 of 5 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Acutaas Chemicals Ltd leads both opm at 34% and margin change at +9 percentage points.

LeaderAcutaas Chemicals Ltd · 34%
Gap176.4% versus #2 · Syngene International Ltd
Persistence8/8 recent comparable periods
Coverage5/5 companies · 100 observations

Investor read: Acutaas Chemicals Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Acutaas Chemicals Ltd 54334934%
2Syngene International Ltd SYNGENE12%
3Hikal Ltd HIKAL9.2%
4Dishman Carbogen Amcis Ltd DCAL9.0%
5Cohance Lifesciences Ltd COHANCE0.3%
Margin changefastest expanders
1Acutaas Chemicals Ltd 543349+9.0 pp
2Hikal Ltd HIKAL+2.6 pp
3Dishman Carbogen Amcis Ltd DCAL−11.0 pp
4Syngene International Ltd SYNGENE−11.3 pp
5Cohance Lifesciences Ltd COHANCE−19.7 pp
Operating margin · company comparison
5/5 level · 5/5 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Acutaas Chemicals Ltd 54334934%+9.0 ppJun 2026
Syngene International Ltd SYNGENE12%−11.3 ppJun 2026
Hikal Ltd HIKAL9.2%+2.6 ppJun 2026
Dishman Carbogen Amcis Ltd DCAL9.0%−11.0 ppJun 2026
Cohance Lifesciences Ltd COHANCE0.3%−19.7 ppJun 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Acutaas Chemicals Ltd · 543349

22%
21%
18%
17%
19%
20%
22%
22%
14%
16%
19%
17%
20%
25%
28%
25%
31%
38%
42%
34%

Cohance Lifesciences Ltd · COHANCE

40%
48%
43%
45%
36%
41%
47%
48%
42%
30%
29%
26%
34%
35%
27%
20%
22%
18%
16%
0.3%

Dishman Carbogen Amcis Ltd · DCAL

22%
19%
3.9%
16%
13%
18%
8.0%
17%
10%
6.0%
10%
6.0%
19%
21%
21%
20%
23%
16%
19%
9.0%

Hikal Ltd · HIKAL

19%
18%
12%
6.0%
12%
14%
16%
13%
13%
14%
18%
14%
17%
16%
22%
6.6%
2.3%
17%
20%
9.2%

Syngene International Ltd · SYNGENE

29%
32%
33%
27%
28%
29%
32%
26%
28%
27%
35%
22%
27%
30%
34%
24%
22%
23%
29%
12%

Margin change · reported quarter history

Acutaas Chemicals Ltd · 543349

−1.6 pp
−2.4 pp
−7.1 pp
−2.0 pp
−3.2 pp
−1.2 pp
+4.0 pp
+4.5 pp
−5.1 pp
−4.0 pp
−3.0 pp
−5.0 pp
+6.0 pp
+9.0 pp
+9.0 pp
+8.0 pp
+11.0 pp
+13.0 pp
+14.0 pp
+9.0 pp

Cohance Lifesciences Ltd · COHANCE

−0.8 pp
−2.5 pp
+7.0 pp
+1.1 pp
−4.6 pp
−6.5 pp
+3.4 pp
+3.5 pp
+6.1 pp
−11.0 pp
−17.5 pp
−22.0 pp
−8.0 pp
+5.0 pp
−2.0 pp
−6.0 pp
−12.0 pp
−17.0 pp
−11.0 pp
−19.7 pp

Dishman Carbogen Amcis Ltd · DCAL

+3.4 pp
+6.1 pp
−12.8 pp
−1.9 pp
−8.8 pp
−1.5 pp
+4.1 pp
+0.7 pp
−2.8 pp
−12.0 pp
+2.0 pp
−11.0 pp
+9.0 pp
+15.0 pp
+11.0 pp
+14.0 pp
+4.0 pp
−5.0 pp
−2.0 pp
−11.0 pp

Hikal Ltd · HIKAL

+0.6 pp
−1.7 pp
−8.4 pp
−15.0 pp
−6.9 pp
−4.3 pp
+3.9 pp
+7.0 pp
+0.8 pp
+0.7 pp
+2.4 pp
+1.3 pp
+3.3 pp
+1.6 pp
+4.0 pp
−7.7 pp
−14.3 pp
+0.6 pp
−2.1 pp
+2.6 pp

Syngene International Ltd · SYNGENE

−0.9 pp
+1.6 pp
+0.3 pp
−0.9 pp
−0.9 pp
−2.7 pp
−1.0 pp
−0.6 pp
−0.3 pp
−1.9 pp
+2.6 pp
−4.7 pp
−0.5 pp
+2.9 pp
−0.8 pp
+2.1 pp
−5.6 pp
−7.2 pp
−4.5 pp
−11.3 pp
09 · compare level, then change

Profit Scale & Acceleration

Acutaas Chemicals Ltd has the highest Net profit among the 5 Pharma - API & CRAMS companies compared here, at ₹387 crore. Syngene International Ltd is next at ₹221 crore. The same company also holds the highest Profit growth, at the 100% top of the scoring scale. 5 of 5 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Acutaas Chemicals Ltd leads with ₹387 crore of TTM profit, 75.1% above Syngene International Ltd. Acutaas Chemicals Ltd shows ≥100% on the scoring scale (103.7% uncapped) growth from a ₹387 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderAcutaas Chemicals Ltd · ₹387 crore
Gap75.1% versus #2 · Syngene International Ltd
Persistence7/8 recent comparable periods
Coverage5/5 companies · 90 observations

Investor read: Acutaas Chemicals Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current 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
1Acutaas Chemicals Ltd 543349₹387 Cr
2Syngene International Ltd SYNGENE₹221 Cr
3Cohance Lifesciences Ltd COHANCE₹58 Cr
4Dishman Carbogen Amcis Ltd DCAL₹16 Cr
5Hikal Ltd HIKAL₹-34 Cr
Profit growthfastest growers
1Acutaas Chemicals Ltd 543349100%
2Syngene International Ltd SYNGENE-56%
3Cohance Lifesciences Ltd COHANCE-80%
4Dishman Carbogen Amcis Ltd DCAL-80%
Net profit · company comparison
5/5 level · 4/5 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Acutaas Chemicals Ltd 543349₹75 Cr70%Jun 2026
Hikal Ltd HIKAL₹-7 Cr-71%Jun 2026
Syngene International Ltd SYNGENE₹-9 Cr-110%Jun 2026
Cohance Lifesciences Ltd COHANCE₹-45 Cr-198%Jun 2026
Dishman Carbogen Amcis Ltd DCAL₹-58 Cr-352%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Acutaas Chemicals Ltd · 543349

—
—
—
—
—
₹22 Cr
₹27 Cr
₹22 Cr
₹-17 Cr
₹18 Cr
₹26 Cr
₹15 Cr
₹38 Cr
₹45 Cr
₹63 Cr
₹44 Cr
₹72 Cr
₹106 Cr
₹134 Cr
₹75 Cr

Cohance Lifesciences Ltd · COHANCE

—
—
—
—
—
₹108 Cr
₹124 Cr
₹121 Cr
₹80 Cr
₹47 Cr
₹53 Cr
₹75 Cr
₹138 Cr
₹153 Cr
₹117 Cr
₹46 Cr
₹66 Cr
₹29 Cr
₹8 Cr
₹-45 Cr

Dishman Carbogen Amcis Ltd · DCAL

₹11 Cr
₹35 Cr
₹-45 Cr
₹4 Cr
₹-10 Cr
₹47 Cr
₹-71 Cr
₹17 Cr
₹-41 Cr
₹-60 Cr
₹-70 Cr
₹-78 Cr
₹33 Cr
₹5 Cr
₹43 Cr
₹23 Cr
₹65 Cr
₹-13 Cr
₹22 Cr
₹-58 Cr

Hikal Ltd · HIKAL

₹44 Cr
₹45 Cr
₹21 Cr
₹-9 Cr
₹25 Cr
₹26 Cr
₹36 Cr
₹7 Cr
₹13 Cr
₹16 Cr
₹34 Cr
₹5 Cr
₹18 Cr
₹17 Cr
₹50 Cr
₹-22 Cr
₹-35 Cr
₹-6 Cr
₹14 Cr
₹-7 Cr

Syngene International Ltd · SYNGENE

₹67 Cr
₹104 Cr
₹148 Cr
₹74 Cr
₹102 Cr
₹110 Cr
₹179 Cr
₹93 Cr
₹117 Cr
₹112 Cr
₹189 Cr
₹76 Cr
₹106 Cr
₹131 Cr
₹183 Cr
₹87 Cr
₹67 Cr
₹15 Cr
₹148 Cr
₹-9 Cr

Profit growth · reported quarter history

Acutaas Chemicals Ltd · 543349

—
—
—
—
—
—
—
—
—
-18%
-3.7%
-32%
—
150%
142%
193%
89%
136%
113%
70%

Cohance Lifesciences Ltd · COHANCE

—
—
—
—
—
—
—
—
—
-56%
-57%
-38%
73%
226%
121%
-39%
-52%
-81%
-93%
-198%

Dishman Carbogen Amcis Ltd · DCAL

—
—
—
-75%
-191%
34%
—
325%
—
-228%
—
-559%
—
—
—
—
97%
-360%
-49%
-352%

Hikal Ltd · HIKAL

—
—
—
-118%
-43%
-41%
71%
—
-50%
-39%
-5.8%
-26%
46%
6.8%
48%
-539%
-291%
-134%
-71%
—

Syngene International Ltd · SYNGENE

—
—
—
-3.9%
52%
5.8%
21%
26%
14%
1.4%
5.4%
-19%
-8.9%
18%
-2.8%
15%
-37%
-89%
-19%
-110%
10 · compare level, then change

Return On Capital Employed

Acutaas Chemicals Ltd has the highest ROCE among the 5 Pharma - API & CRAMS companies compared here, at 31.6%. Syngene International Ltd is next at 10%. The same company also holds the highest ROCE change, at +12 percentage points. 5 of 5 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Acutaas Chemicals Ltd leads ROCE at 31.6%, 21.6 percentage points above Syngene International Ltd. Acutaas Chemicals Ltd has the strongest latest improvement at +12 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderAcutaas Chemicals Ltd · 31.6%
Gap216.3% versus #2 · Syngene International Ltd
PersistenceNot enough history
Coverage5/5 companies · 45 observations

Investor read: Acutaas Chemicals Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Acutaas Chemicals Ltd 54334932%
2Syngene International Ltd SYNGENE10.0%
3Cohance Lifesciences Ltd COHANCE5.8%
4Hikal Ltd HIKAL3.5%
5Dishman Carbogen Amcis Ltd DCAL3.1%
ROCE changefastest improvers
1Acutaas Chemicals Ltd 543349+12.0 pp
2Dishman Carbogen Amcis Ltd DCAL0.0 pp
3Syngene International Ltd SYNGENE−1.8 pp
4Hikal Ltd HIKAL−7.8 pp
5Cohance Lifesciences Ltd COHANCE−15.0 pp
Return on capital · company comparison
5/5 level · 5/5 change

Withheld from this chart: Cohance Lifesciences Ltd (COHANCE) — its two data sources disagree by up to 138% 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
CompanyROCEROCE changeReported
Syngene International Ltd SYNGENE9.6%−1.8 ppJun 2026
Hikal Ltd HIKAL3.4%−7.8 ppJun 2026
Dishman Carbogen Amcis Ltd DCAL2.4%0.0 ppJun 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Dishman Carbogen Amcis Ltd · DCAL

2.1%
—
1.6%
—
1.1%
—
2.0%
—
2.3%
-0.7%
0.5%
-1.4%
0.4%
1.2%
2.4%
4.1%
3.2%
3.1%
2.4%
—

Hikal Ltd · HIKAL

21%
—
17%
—
9.5%
—
8.6%
—
9.6%
9.5%
8.6%
9.0%
9.5%
10%
11%
9.2%
4.8%
2.8%
3.4%
—

Syngene International Ltd · SYNGENE

11%
—
10%
—
12%
—
13%
—
15%
15%
13%
13%
11%
14%
11%
14%
12%
9.6%
9.6%
—

ROCE change · reported quarter history

Dishman Carbogen Amcis Ltd · DCAL

—
—
—
—
−1.0 pp
—
+0.4 pp
—
+1.2 pp
—
−1.5 pp
—
−1.9 pp
+1.9 pp
+1.9 pp
+5.5 pp
+2.8 pp
+1.9 pp
0.0 pp
—

Hikal Ltd · HIKAL

—
—
—
—
−11.8 pp
—
−8.4 pp
—
+0.1 pp
—
0.0 pp
—
−0.1 pp
+0.7 pp
+2.6 pp
+0.2 pp
−4.7 pp
−7.4 pp
−7.8 pp
—

Syngene International Ltd · SYNGENE

—
—
—
—
+1.1 pp
—
+3.3 pp
—
+3.0 pp
—
−0.4 pp
—
−4.0 pp
−1.5 pp
−1.5 pp
+0.3 pp
+0.9 pp
−4.2 pp
−1.8 pp
—
11 · compare level, then change

Valuation Against Growth & Quality

Dishman Carbogen Amcis Ltd has the lowest PEG among the 5 Pharma - API & CRAMS companies compared here, at 2.65×. Syngene International Ltd is next at 7.87×. Syngene International Ltd has the lowest P/E at 51.6×, so level and change sit with different companies. 2 of 5 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Dishman Carbogen Amcis Ltd has the lowest comparable PEG at 2.65×, 66.3% below Syngene International Ltd. Only 2 of 5 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderDishman Carbogen Amcis Ltd · 2.65×
Gap66.3% versus #2 · Syngene International Ltd
Persistence2/8 recent comparable periods
Coverage2/5 companies · 15 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1Dishman Carbogen Amcis Ltd DCAL2.7
2Syngene International Ltd SYNGENE7.9
P/Elowest P/E
1Syngene International Ltd SYNGENE51.6
2Hikal Ltd HIKAL63.3
3Acutaas Chemicals Ltd 54334968.1
4Dishman Carbogen Amcis Ltd DCAL145.0
5Cohance Lifesciences Ltd COHANCE163.0
Valuation · company comparison
2/5 level · 5/5 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Syngene International Ltd SYNGENE7.946.5Jun 2026
Hikal Ltd HIKAL3.473.1Jun 2026
Dishman Carbogen Amcis Ltd DCAL2.726.8Jun 2026
Acutaas Chemicals Ltd 543349—75.8Jun 2026
Cohance Lifesciences Ltd COHANCE—94.1Jun 2026
Full 20-quarter history · every available company

PEG · reported quarter history

Dishman Carbogen Amcis Ltd · DCAL

—
—
—
—
—
2.7
—
—
—
—
—
—
—
—
—
—
—
—
—
—

Hikal Ltd · HIKAL

—
—
—
—
—
—
—
—
—
—
3.4
—
—
—
—
—
—
—
—
—

Syngene International Ltd · SYNGENE

4.5
4.6
5.3
5.5
9.9
9.0
7.8
6.0
4.2
3.2
9.6
4.8
—
—
—
—
7.9
—
—
—

P/E · reported quarter history

Acutaas Chemicals Ltd · 543349

74.9
62.2
51.5
43.6
45.5
47.1
41.9
55.6
51.0
54.6
57.6
70.2
104.5
94.3
80.3
58.9
58.8
60.4
72.6
75.8

Cohance Lifesciences Ltd · COHANCE

36.6
31.5
34.3
26.7
25.2
29.2
31.7
30.1
33.7
42.6
46.5
68.1
115.7
94.7
69.7
48.2
48.1
36.9
31.6
94.1

Dishman Carbogen Amcis Ltd · DCAL

-25.3
-43.6
—
56.3
77.1
86.7
189.0
124.3
82.9
74.7
—
—
-16.2
-38.6
1,053.9
177.7
37.1
26.2
17.0
26.8

Hikal Ltd · HIKAL

46.0
35.0
27.2
19.2
41.0
61.8
55.0
49.3
38.7
45.8
45.7
59.3
67.7
64.1
66.1
49.3
49.7
45.2
76.8
73.1

Syngene International Ltd · SYNGENE

65.3
61.7
57.4
54.1
53.9
54.9
55.0
66.1
66.7
55.9
55.5
55.0
74.5
74.2
61.2
54.8
48.4
56.3
40.9
46.5
12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Pharma - API & CRAMS comparison names 6 specific ways its own evidence can mislead, all listed below. All 5 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-feed figures withheld because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.

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 is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Valuation have fewer than three usable current readings.
13 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 5 Pharma - API & CRAMS companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-25.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-09-25 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG 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 standing3 cross-checked · 1 unverified · 1 withheld, of 5 graded companies.
How a second data feed is admitted, and what happens when it disagrees

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.

14 · questions investors ask, short speakable answers

Pharma - API & CRAMS company comparison FAQs

These 24 answers restate the Pharma - API & CRAMS comparison above in question form. Every one is computed from the same 5 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-25. Nothing here is estimated, and none of it is a recommendation.

Is the Pharma - API & CRAMS sector outperforming NIFTY 500?

Pharma - API & CRAMS has underperformed NIFTY 500 by 11.9% over 52 weeks and 0.1% over 13 weeks. 2 of 5 covered companies beat NIFTY on Mansfield relative strength, while 2 of 5 beat the sector itself.

Which Pharma - API & CRAMS company is largest by revenue?

Syngene International Ltd leads with revenue of ₹3,600 crore, based on 5 of 5 comparable companies through Jun 2026.

Which Pharma - API & CRAMS company is growing fastest?

Acutaas Chemicals Ltd has the fastest current revenue growth at 41%, across 5 of 5 comparable companies.

Which Pharma - API & CRAMS company has the strongest 4-Factor Sector Score?

Acutaas Chemicals Ltd ranks first at 75.7/100 with 82.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Pharma - API & CRAMS company has the lowest comparable PEG?

Dishman Carbogen Amcis Ltd has the lowest comparable PEG at 2.65, among 2 of 5 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Pharma - API & CRAMS comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns 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.

Is there a Nifty Pharma - API & CRAMS index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Pharma - API & CRAMS, this page builds its own equal-weight basket of 5 listed Pharma - API & CRAMS companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Pharma - API & CRAMS stocks in India?

Ranked by this page's four-factor score, Acutaas Chemicals Ltd places first among 5 listed Pharma - API & CRAMS companies, followed by Hikal Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Pharma - API & CRAMS stocks are listed in India?

This comparison covers 5 listed Pharma - API & CRAMS companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Pharma - API & CRAMS company is the biggest?

Syngene International Ltd is the largest, with trailing-twelve-month revenue of ₹3,600 crore, ahead of Dishman Carbogen Amcis Ltd at ₹2,902 crore. That covers 5 of 5 companies with comparable reporting through Jun 2026.

Which Pharma - API & CRAMS company has the best profit margins?

Acutaas Chemicals Ltd has the highest operating margin at 34%, from 5 of 5 comparable companies. Acutaas Chemicals Ltd shows the biggest recent improvement, at +9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Pharma - API & CRAMS company makes the most profit?

Acutaas Chemicals Ltd earns the most, at ₹387 crore of trailing-twelve-month net profit, from 5 of 5 comparable companies. Acutaas Chemicals Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

Which Pharma - API & CRAMS company earns the highest return on capital?

Acutaas Chemicals Ltd leads on return on capital employed at 31.6%, across 5 of 5 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Pharma - API & CRAMS stock is the cheapest?

On PEG — where a LOWER number is cheaper — Dishman Carbogen Amcis Ltd screens cheapest at 2.65×. Only 2 of 5 companies have earnings and growth steady enough for the ratio to mean anything, 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.

Is the Pharma - API & CRAMS sector beating the market?

Pharma - API & CRAMS has underperformed NIFTY 500 by 11.9% over the last 52 weeks and 0.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 5 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Pharma - API & CRAMS stock has the strongest price momentum?

Acutaas Chemicals Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Pharma - API & CRAMS company scores highest for research priority?

Acutaas Chemicals Ltd scores 75.7 out of 100 with 82.3% evidence confidence, from 33.3 points on growth and earnings, 20.9 on capital efficiency, 7.5 on valuation and 14 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Pharma - API & CRAMS companies does this comparison cover, and over what period?

It compares 5 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Pharma - API & CRAMS sector?

The 5 Pharma - API & CRAMS companies on this page carry ₹64,497 crore of combined market value. Acutaas Chemicals Ltd is the largest at ₹26,319 crore, about 41% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-28.

What is the Pharma - API & CRAMS sector's P/E ratio?

The median price-to-earnings ratio across the 5 Pharma - API & CRAMS companies on this page is 68.1×, measured on the 5 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 2026-09-28.

How is the Pharma - API & CRAMS sector performing?

2 of the 5 covered Pharma - API & CRAMS companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 11.9% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-28.

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.

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