Pharma - API — sector analysis & key numbers
Pharma - API is turning around off a trough: 8 of 14 constituents are in price uptrends, and aggregate profit fell 28% in the latest year.
Pharma - API groups 14 listed companies worth ₹40,462 Cr combined, and 8 of 14 are in confirmed price uptrends. Aggregate profit moved −40.7% year-on-year in the latest reported quarter. The sector trades at an aggregate P/E of 29.6×, at the 67th percentile of its own history.
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Companies
- 14
- Total market cap
- ₹40,462 Cr
- Relative strength
- 44.2
- RRG quadrant
- leaders
- Weeks in streak
- 12
- In Stage-2 uptrend
- 8 of 14
- Above 200-DMA
- 11 of 14
- Beating NIFTY 500
- 11 of 14
- Latest-quarter revenue
- ₹3,171 Cr
- Latest-quarter profit
- ₹318 Cr
- Aggregate P/E
- 29.6×
- Valuation percentile
- 67th of its own history
- Sector wind
- tailwind
- Data as of
- 1 July 2026
The research read on Pharma - API: turning around off a trough.lifecycle_bucket
The API sector is caught between a multi-year structural tailwind (China+1 sourcing and ₹42,000 Cr PLI capex) and a severe near-term margin crash (-28.3% YoY ΣPAT drop driven by API pricing/RM costs). Over a 3-year window, earnings and multiple moved in tandem (mixed driver), leaving the sector fairly priced today (trailing PE 76th percentile normalizes to 62nd percentile at mid-cycle margins). While social sentiment is high, it is a shared super-group signal. Wait for the margin trough to confirm before treating this as a fresh turn.synthesis
What would change this view: Aggregate margins plunge further below mid-cycle levels, indicating the API price crash is structural (e.g. permanent Chinese dumping) rather than a cyclical trough.would_change_my_mind
A powerful structural import-substitution / China+1 story funded by ₹42,000 Cr of PLI capex, but earnings are at a cyclical margin trough on an API price crash and a US-tariff cloud — study the structural recovery, not yet the cycle.one_line_thesis
- ⚠ΣPAT +37.3% over ~3y · sector_cycle_deterministic.curve_move_driver.citations
- ⚠PE +44.4% over 12q · sector_cycle_deterministic.curve_move_driver.citations
- ✓Sector ΣPAT -28.3% YoY · sector_why_traces.traces
- ✓net_margin -3.47 pp · sector_why_traces.traces.decomposition
- ⚠aggregate OPM 14.3% at 42nd %ile · sector_cycle_deterministic.verdict.citations
- ⚠trailing PE 76th %ile normalizes to 62nd %ile · sector_cycle_deterministic.verdict.citations
- ⚠Mixed move driver · sector_cycle_deterministic.verdict.citations
- ⚠FERMENTA lifted ΣPAT · sector_cycle_deterministic.top_contributors.top
Research view from 2026-06-27
Across the 4 largest constituents with research timelines, 4 carried trackable guidance: 7 beats, 1 met, 11 misses against what management said.guidance_pairs
Research view from 2026-06-27
8 of 14 constituents are in Stage-2 price uptrends, 11 trade above their 200-day averages, and 11 are beating the NIFTY 500 on relative strength.stageabove_dma200rs_mansfield
Over the trailing ~20 weeks, the share of constituents above the 200-day line moved from 21% to 79% — participation is widening.breadth_series
Sector relative strength stands at 44.2, in the leaders quadrant of the rotation map, with relative strength rising over a 12-week streak.current_rsquadrant
Recent stage changes: FERMENTA (stage 4→1), GUJTHEM (stage 4→2), INNOVACAP (stage 4→2), JAGSNPHARM (stage 1→2).stage
Data: Breadth trend
| Period | % above 200-DMA (%) | % beating NIFTY (%) |
|---|---|---|
| Feb 26 | 21.4 | 14.3 |
| Feb 26 | 28.6 | 28.6 |
| Feb 26 | 28.6 | 28.6 |
| Mar 26 | 28.6 | 28.6 |
| Mar 26 | 15.4 | 23.1 |
| Mar 26 | 23.1 | 23.1 |
| Mar 26 | 15.4 | 15.4 |
| Mar 26 | 40.0 | 40.0 |
| Apr 26 | 37.5 | 37.5 |
| Apr 26 | 35.7 | 28.6 |
| Apr 26 | 35.7 | 42.9 |
| Apr 26 | 57.1 | 35.7 |
| May 26 | 64.3 | 57.1 |
| May 26 | 57.1 | 57.1 |
| May 26 | 50.0 | 57.1 |
| May 26 | 64.3 | 64.3 |
| Jun 26 | 71.4 | 64.3 |
| Jun 26 | 71.4 | 78.6 |
| Jun 26 | 71.4 | 71.4 |
| Jun 26 | 78.6 | 78.6 |
Data as of 2026-07-01
Top performers by 1-year price return: Senores Pharmaceuticals Ltd (+131.7%), Ind-Swift Laboratories Ltd (+76%), Orchid Pharma Ltd (+28.9%), Beta Drugs Ltd (+25.3%), Innova Captab Ltd (+13.2%).price
Data: Indexed price (base 100, ~52 weeks) — default top-5
| Period | SENORES (index) | INDSWFTLAB (index) | ORCHPHARMA (index) | BETA (index) | INNOVACAP (index) | Sector avg (index) |
|---|---|---|---|---|---|---|
| Jul 25 | 100 | 100 | 100 | 100 | 100 | 100 |
| Jul 25 | 102 | 102 | 102 | 95.5 | 103 | 101 |
| Jul 25 | 109 | 100 | 98.9 | 97.1 | 103 | 101 |
| Aug 25 | 109 | 102 | 108 | 98.3 | 101 | 99.7 |
| Aug 25 | 107 | 94.8 | 105 | 98.2 | 105 | 97.0 |
| Aug 25 | 110 | 96.9 | 104 | 109 | 104 | 96.7 |
| Aug 25 | 118 | 93.6 | 108 | 111 | 104 | 100 |
| Aug 25 | 113 | 91.8 | 102 | 106 | 103 | 96.4 |
| Sep 25 | 118 | 97.5 | 99.2 | 108 | 104 | 98.8 |
| Sep 25 | 113 | 101 | 98.9 | 104 | 98.2 | 100 |
| Sep 25 | 117 | 99.5 | 110 | 104 | 98.4 | 101 |
| Sep 25 | 110 | 95.5 | 100 | 103 | 96.5 | 96.8 |
| Oct 25 | 119 | 92.9 | 104 | 104 | 97.1 | 99.4 |
| Oct 25 | 120 | 100 | 104 | 98.3 | 95.6 | 98.8 |
| Oct 25 | 117 | 96.9 | 101 | 102 | 92.3 | 96.3 |
| Oct 25 | 126 | 97.4 | 100 | 102 | 92.0 | 98.0 |
| Oct 25 | 126 | 98.2 | 101 | 105 | 94.9 | 99.7 |
| Nov 25 | 135 | 96.1 | 117 | 94.9 | 87.7 | 98.4 |
| Nov 25 | 128 | 99.1 | 112 | 94.6 | 85.8 | 94.8 |
| Nov 25 | 134 | 96.1 | 121 | 94.3 | 86.8 | 92.6 |
| Nov 25 | 135 | 93.2 | 116 | 94.9 | 82.0 | 92.9 |
| Dec 25 | 127 | 91.6 | 121 | 92.7 | 80.9 | 90.8 |
| Dec 25 | 129 | 93.6 | 118 | 93.3 | 82.4 | 91.9 |
| Dec 25 | 132 | 89.3 | 110 | 86.9 | 78.7 | 90.5 |
| Dec 25 | 133 | 87.5 | 106 | 88.3 | 81.1 | 92.6 |
| Jan 26 | 142 | 87.5 | 111 | 92.5 | 82.8 | 93.7 |
| Jan 26 | 133 | 86.4 | 101 | 90.0 | 80.4 | 89.0 |
| Jan 26 | 129 | 106 | 101 | 89.2 | 77.0 | 88.6 |
| Jan 26 | 131 | 105 | 95.8 | 85.4 | 77.5 | 83.5 |
| Feb 26 | 129 | 108 | 94.9 | 79.7 | 79.3 | 84.5 |
| Feb 26 | 135 | 126 | 94.7 | 78.4 | 80.8 | 88.6 |
| Feb 26 | 128 | 130 | 92.5 | 78.0 | 77.5 | 87.5 |
| Feb 26 | 133 | 136 | 93.0 | 60.3 | 76.5 | 87.3 |
| Feb 26 | 125 | 139 | 86.3 | 59.7 | 76.3 | 85.9 |
| Mar 26 | 123 | 131 | 70.8 | 62.4 | 77.7 | 82.7 |
| Mar 26 | 119 | 131 | 71.3 | 63.4 | 81.5 | 81.7 |
| Mar 26 | 123 | 135 | 74.1 | 62.8 | 77.6 | 81.6 |
| Mar 26 | 129 | 132 | 69.9 | 66.1 | 76.7 | 79.3 |
| Apr 26 | 128 | 133 | – | – | 80.5 | 95.7 |
| Apr 26 | 134 | 134 | 77.8 | – | 78.7 | 94.0 |
| Apr 26 | 146 | 126 | 79.3 | 78.1 | 84.8 | 90.0 |
| Apr 26 | 146 | 131 | 78.9 | 75.9 | 82.4 | 91.1 |
| Apr 26 | 147 | 131 | 87.1 | 75.5 | 85.9 | 93.3 |
| May 26 | 158 | 132 | 97.9 | 75.1 | 100 | 96.6 |
| May 26 | 172 | 128 | 99.2 | 72.2 | 98.0 | 95.0 |
| May 26 | 182 | 126 | 98.4 | 78.2 | 96.9 | 97.4 |
| May 26 | 183 | 145 | 110 | 81.2 | 97.1 | 103 |
| Jun 26 | 169 | 151 | 118 | 83.3 | 99.1 | 101 |
| Jun 26 | 211 | 156 | 128 | 101 | 108 | 107 |
| Jun 26 | 215 | 179 | 136 | 113 | 109 | 111 |
| Jun 26 | 208 | 192 | 134 | 119 | 108 | 114 |
| Jul 26 | 215 | 192 | 136 | 124 | 111 | 116 |
Data: Quarterly revenue (8q) — default top-5
| Period | SENORES (₹ Cr) | INDSWFTLAB (₹ Cr) | ORCHPHARMA (₹ Cr) | BETA (₹ Cr) | INNOVACAP (₹ Cr) | Sector avg (₹ Cr) |
|---|---|---|---|---|---|---|
| Jun 24 | 80.0 | 33.0 | 244 | – | 294 | 190 |
| Sep 24 | 101 | 12.0 | 223 | 180 | 318 | 192 |
| Dec 24 | 103 | 129 | 217 | 88.0 | 316 | 198 |
| Mar 25 | 114 | 138 | 237 | 94.0 | 315 | 214 |
| Jun 25 | 138 | 153 | 173 | – | 352 | 202 |
| Sep 25 | 162 | 153 | 194 | 103 | 380 | 204 |
| Dec 25 | 171 | 151 | 207 | 87.0 | 450 | 214 |
| Mar 26 | 175 | 170 | 238 | 94.0 | 448 | 244 |
Data: Quarterly net profit (8q) — default top-5
| Period | SENORES (₹ Cr) | INDSWFTLAB (₹ Cr) | ORCHPHARMA (₹ Cr) | BETA (₹ Cr) | INNOVACAP (₹ Cr) | Sector avg (₹ Cr) |
|---|---|---|---|---|---|---|
| Jun 24 | 11.0 | 1.0 | 29.0 | – | 29.0 | 16.7 |
| Sep 24 | 13.0 | 0.0 | 27.0 | 24.0 | 35.0 | 19.0 |
| Dec 24 | 16.0 | -5.0 | 21.0 | 9.0 | 34.0 | 20.8 |
| Mar 25 | 18.0 | 222 | 22.0 | 9.0 | 30.0 | 38.3 |
| Jun 25 | 21.0 | 9.0 | 15.0 | – | 31.0 | 18.2 |
| Sep 25 | 30.0 | 8.0 | -6.0 | 12.0 | 30.0 | 14.4 |
| Dec 25 | 34.0 | 10.0 | -13.0 | 9.0 | 42.0 | 18.1 |
| Mar 26 | 37.0 | 15.0 | 24.0 | 9.0 | 38.0 | 24.5 |
Data: Operating margin % (8q) — default top-5
| Period | SENORES (%) | INDSWFTLAB (%) | ORCHPHARMA (%) | BETA (%) | INNOVACAP (%) | Sector avg (%) |
|---|---|---|---|---|---|---|
| Jun 24 | 27.0 | -29.0 | 13.0 | – | 14.0 | 13.3 |
| Sep 24 | 23.0 | -99.0 | 14.0 | 22.0 | 16.0 | 10.0 |
| Dec 24 | 25.0 | -5.0 | 12.0 | 20.9 | 15.0 | 17.4 |
| Mar 25 | 17.0 | -7.0 | 12.0 | 18.5 | 15.0 | 14.6 |
| Jun 25 | 25.0 | 2.0 | 8.0 | – | 15.0 | 14.3 |
| Sep 25 | 31.0 | 1.0 | -1.0 | 20.6 | 14.0 | 14.4 |
| Dec 25 | 29.0 | 3.0 | 1.0 | 19.5 | 15.0 | 16.8 |
| Mar 26 | 27.0 | 12.0 | 11.0 | 18.8 | 15.0 | 17.1 |
Data: Latest reported ROCE / ROE (single latest reading, not a trend) — default top-5
| Period | SENORES (%) | INDSWFTLAB (%) | ORCHPHARMA (%) | BETA (%) | INNOVACAP (%) | Sector avg (%) |
|---|---|---|---|---|---|---|
| ROCE % | 15.1 | 4.7 | 2.6 | 19.2 | 15.0 | 14.4 |
| ROE % | 13.4 | 3.9 | 2.1 | 18.8 | 13.7 | 15.7 |
Data: 10-year valuation percentile (latest) — default top-5
| Period | SENORES (percentile) | INDSWFTLAB (percentile) | ORCHPHARMA (percentile) | BETA (percentile) | INNOVACAP (percentile) | Sector avg (percentile) |
|---|---|---|---|---|---|---|
| 10y percentile | 63.0 | 93.0 | 93.0 | 93.0 | 67.0 | 70.8 |
Interactive charts default to the five strongest performers by 1-year price return; use the rail to add or remove any constituent, globally or per chart. Non-interactive readers see the same numbers in each chart’s data table.
Data as of 2026-07-01
In the latest reported quarter (2026-03), constituents together booked ₹3,171 Cr of revenue (+6.1% year-on-year) and ₹318 Cr of profit (-40.7%).revenuepat
Reporting honesty note: 13 of the constituents have reported this quarter versus 14 a year ago, so part of the year-on-year change is composition, not like-for-like growth.reporters
On the annual arc, aggregate profit fell 28% to ₹964 Cr in 2026.pat
Data: Aggregate quarterly revenue
| Period | Revenue (₹ Cr) | Reporters |
|---|---|---|
| Jun 23 | 2,558 | 12 |
| Sep 23 | 2,702 | 13 |
| Dec 23 | 2,690 | 13 |
| Mar 24 | 3,160 | 14 |
| Jun 24 | 2,470 | 13 |
| Sep 24 | 2,691 | 14 |
| Dec 24 | 2,771 | 14 |
| Mar 25 | 2,989 | 14 |
| Jun 25 | 2,622 | 13 |
| Sep 25 | 2,852 | 14 |
| Dec 25 | 2,996 | 14 |
| Mar 26 | 3,171 | 13 |
Data: Aggregate quarterly profit
| Period | Profit after tax (₹ Cr) |
|---|---|
| Jun 23 | 205 |
| Sep 23 | 225 |
| Dec 23 | 249 |
| Mar 24 | 786 |
| Jun 24 | 217 |
| Sep 24 | 267 |
| Dec 24 | 290 |
| Mar 25 | 536 |
| Jun 25 | 236 |
| Sep 25 | 201 |
| Dec 25 | 254 |
| Mar 26 | 318 |
Data: Aggregate operating margin
| Period | OPM (%) |
|---|---|
| Jun 23 | 14.9 |
| Sep 23 | 15.1 |
| Dec 23 | 16.2 |
| Mar 24 | 16.1 |
| Jun 24 | 14.0 |
| Sep 24 | 15.3 |
| Dec 24 | 16.0 |
| Mar 25 | 15.5 |
| Jun 25 | 13.9 |
| Sep 25 | 13.2 |
| Dec 25 | 14.5 |
| Mar 26 | 15.6 |
Data: Aggregate profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| 2015 | -240 |
| 2016 | -212 |
| 2017 | -323 |
| 2018 | -188 |
| 2019 | 357 |
| 2020 | 242 |
| 2021 | 409 |
| 2022 | 737 |
| 2023 | 702 |
| 2024 | 1,451 |
| 2025 | 1,345 |
| 2026 | 964 |
Data: Operating margin by year
| Period | OPM (%) |
|---|---|
| 2015 | 14.6 |
| 2016 | 14.9 |
| 2017 | 10.4 |
| 2018 | 10.7 |
| 2019 | 12.4 |
| 2020 | 12.9 |
| 2021 | 17.1 |
| 2022 | 15.2 |
| 2023 | 14.1 |
| 2024 | 15.6 |
| 2025 | 15.3 |
| 2026 | 14.3 |
Data as of 2026-06-27
Sector profit moved from ₹1,345 Cr to ₹964 Cr (-28.3% year-on-year) — the decomposition attributes the larger share to the margin side (costs and pricing).pat
The aggregate P/E moved from 20.5× to 29.6× (+44.4%) while sector profits moved +37.3% — multiple and earnings moved together.pe
Participation check: the share of constituents above their 200-day average moved 27%→73% across the trailing weeks — the move is broadening.pct_above_200dma
Sector ΣPAT -28.3% YoY — dominant leg: net_margin (margin-led — confirm input-cost/pricing, not a one-off).
patSector PE +44.4% vs ΣPAT +37.3% over ~3y — multiple and earnings moved together; neither clearly led.
peprice_idxpatSector breadth WIDENING — % above 200-DMA 27→73% over the trailing weeks: broad participation corroborates a genuine sector-wide turn rather than a few-name move.
pct_above_200dmapct_outperformingResearch view from 2026-06-27
Ownership: institutional (FII+DII) holdings moved +0.94 percentage points over four quarters; promoter stakes moved +0 points over two.fii_dii_delta_4qpromoter_delta_2q
Constituents spent ₹1,629 Cr on capex in the trailing twelve months (+1.1% year-on-year), with gross block growing +29.3%.capex_ttm_sum_crcapex_yoy_pct
On the deterministic capital-flow read, money is neither decisively entering nor leaving this industry.read
Research view from 2026-06-27
The sector trades at an aggregate P/E of 29.61× against a range of 8.86–61.59× over its 40-quarter history.pe
The median constituent sits at the 67th percentile of its own 10-year valuation range.percentile
Data: Aggregate P/E and price index
| Period | P/E (×) | Price index |
|---|---|---|
| Jun 16 | – | 100 |
| Sep 16 | – | 114 |
| Dec 16 | – | 109 |
| Mar 17 | – | 110 |
| Jun 17 | – | 102 |
| Sep 17 | – | 95 |
| Dec 17 | – | 128 |
| Mar 18 | – | 113 |
| Jun 18 | – | 119 |
| Sep 18 | – | 104 |
| Dec 18 | – | 111 |
| Mar 19 | 11.1 | 107 |
| Jun 19 | 9.9 | 95 |
| Sep 19 | 10.0 | 96 |
| Dec 19 | 13.0 | 101 |
| Mar 20 | 8.9 | 88 |
| Jun 20 | 16.0 | 159 |
| Sep 20 | 32.8 | 326 |
| Dec 20 | 53.5 | 311 |
| Mar 21 | 61.6 | 627 |
| Jun 21 | 44.4 | 451 |
| Sep 21 | 36.1 | 367 |
| Dec 21 | 35.9 | 365 |
| Mar 22 | 22.1 | 330 |
| Jun 22 | 19.2 | 287 |
| Sep 22 | 21.8 | 325 |
| Dec 22 | 22.8 | 341 |
| Mar 23 | 20.5 | 281 |
| Jun 23 | 26.8 | 373 |
| Sep 23 | 29.1 | 444 |
| Dec 23 | 29.5 | 495 |
| Mar 24 | 18.6 | 517 |
| Jun 24 | 21.3 | 591 |
| Sep 24 | 25.1 | 710 |
| Dec 24 | 29.0 | 813 |
| Mar 25 | 25.3 | 601 |
| Jun 25 | 27.3 | 656 |
| Sep 25 | 29.3 | 676 |
| Dec 25 | 28.5 | 638 |
| Mar 26 | 29.6 | 539 |
Data as of 2026-06-27
14 companies make up this sector, led by Aarti Pharmalabs Ltd at ₹6,437 Cr of market value.constituents
| Company | Price | 1y | Stage | RS | 10y val % |
|---|---|---|---|---|---|
| Aarti Pharmalabs Ltd | ₹702 | −22.1% | 4 | -8.0 | 93 |
| Senores Pharmaceuticals Ltd | ₹1,313 | +131.7% | 2 | 57.4 | 63 |
| Innova Captab Ltd | ₹973 | +13.2% | 2 | 22.3 | 67 |
| Orchid Pharma Ltd | ₹975 | +28.9% | 2 | 33.8 | 93 |
| Gujarat Themis Biosyn Ltd | ₹395 | +12.8% | 2 | 6.5 | 95 |
| Aarti Drugs Ltd | ₹376 | −23.0% | 4 | -10.8 | 37 |
| Beta Drugs Ltd | ₹2,185 | +25.3% | 4 | 37.7 | 93 |
| Ind-Swift Laboratories Ltd | ₹201 | +76.0% | 2 | 65.0 | 93 |
| Jagsonpal Pharmaceuticals Ltd | ₹238 | +3.0% | 2 | 13.4 | 59 |
| Themis Medicare Ltd | ₹111 | −11.4% | 4 | 7.3 | – |
| Fermenta Biotech Ltd | ₹355 | +7.8% | 1 | 8.8 | 43 |
| Wanbury Ltd | ₹288 | +4.6% | 2 | 14.0 | 48 |
| Kopran Ltd | ₹189 | +3.7% | 2 | 21.3 | 93 |
| Anuh Pharma Ltd | ₹80.0 | −26.0% | 4 | -2.4 | 44 |
Data as of 2026-07-01
Tailwind chain: Global inventory destocking phase ending and strategic shift away from China gaining pace. Also touches: Pharma - API & CRAMS, Chemicals - Speciality.triggermechanism
Global inventory destocking phase ending and strategic shift away from China gaining pace.
Western innovators are signing long-term CDMO contracts with Indian players, resulting in operating leverage as API and CRAMS facilities scale up utilization.
Research view from 2026-06-27
Institutional money is NOT yet crowding in: FII+DII holdings moved just +0.33 percentage points across constituents over the last two quarters — the capital-flow read is neutral.fii_dii_delta_2qread
- Institutional money is NOT yet crowding in: FII+DII holdings moved just +0.33 percentage points across constituents over the last two quarters — the capital-flow read is neutral.
Data as of 2026-07-01
Straight answers from the data
What is the Pharma - API sector?
The Pharma - API sector groups 14 listed companies with a combined market value of ₹40,462 Cr, led by Aarti Pharmalabs Ltd, Senores Pharmaceuticals Ltd, Innova Captab Ltd. 8 of 14 constituents are currently in confirmed price uptrends.
Which stocks are in the Pharma - API sector?
The largest Pharma - API companies by market value are Aarti Pharmalabs Ltd (₹6,437 Cr), Senores Pharmaceuticals Ltd (₹5,847 Cr), Innova Captab Ltd (₹5,387 Cr), Orchid Pharma Ltd (₹4,886 Cr), Gujarat Themis Biosyn Ltd (₹4,288 Cr), Aarti Drugs Ltd (₹3,399 Cr), Beta Drugs Ltd (₹2,125 Cr), Ind-Swift Laboratories Ltd (₹1,747 Cr).
What are the best-performing Pharma - API stocks?
By 1-year price return as of 1 July 2026, the strongest Pharma - API stocks are Senores Pharmaceuticals Ltd (+132%), Ind-Swift Laboratories Ltd (+76%), Orchid Pharma Ltd (+29%), Beta Drugs Ltd (+25%), Innova Captab Ltd (+13%). These are descriptive price moves measured from weekly Screener closes, not recommendations.
Is the Pharma - API sector in an uptrend?
8 of 14 Pharma - API constituents are in Stage-2 price uptrends, 11 trade above their 200-day average, and 11 are beating the NIFTY 500 on relative strength. Sector relative strength reads 44.2, in the leaders quadrant of the rotation map, rising over a 12-week streak.
How many Pharma - API stocks trade above their 200-day average?
11 of 14 Pharma - API constituents currently trade above their 200-day moving average. Over the trailing ~20 weeks, that share moved from 21% to 79% — participation is widening.
Is the Pharma - API sector expensive versus its own history?
The Pharma - API sector trades at an aggregate P/E of 29.6× against a 8.86–61.6× band over its own history. The median constituent sits at the 67th percentile of its own 10-year P/E range, above the middle of its own historical range.
Is money entering or leaving the Pharma - API sector?
On Sector Alpha's deterministic capital-flow read, money is neither clearly entering nor leaving the Pharma - API sector. Institutional (FII+DII) holdings moved +0.94 percentage points across constituents over the last four quarters, and constituents grew capex +1.1% year-on-year.
How fast is the Pharma - API sector growing?
In the latest reported quarter (March 2026), Pharma - API constituents together booked ₹3,171 Cr of revenue, +6.1% year-on-year, with aggregate profit −40.7% year-on-year. Figures aggregate Screener-scraped quarterly filings across the sector.
How are Pharma - API operating margins trending?
Aggregate Pharma - API operating margin was 15.6% in the latest reported quarter (March 2026), versus 15.5% a year earlier — margins are broadly steady.
Which sectors is the Pharma - API sector connected to?
The Pharma - API sector sits in 1 cross-sector chain: as a beneficiary it connects to Pharma - API & CRAMS, Chemicals - Speciality — Global inventory destocking phase ending and strategic shift away from China gaining pace..
What is the bull case for the Pharma - API sector?
A powerful structural import-substitution / China+1 story funded by ₹42,000 Cr of PLI capex, but earnings are at a cyclical margin trough on an API price crash and a US-tariff cloud — study the structural recovery, not yet the cycle. Sector ΣPAT -28.3% YoY
What could change the view on the Pharma - API sector?
Aggregate margins plunge further below mid-cycle levels, indicating the API price crash is structural (e.g. permanent Chinese dumping) rather than a cyclical trough. Also worth noting: institutional money is NOT yet crowding in: FII+DII holdings moved just +0.33 percentage points across constituents over the last two quarters — the capital-flow read is neutral.
What is the research view on the Pharma - API sector?
Sector Alpha does not publish trading recommendations or price calls — this is a research read, not advice. What the data says: turning around · divergent. The API sector is caught between a multi-year structural tailwind (China+1 sourcing and ₹42,000 Cr PLI capex) and a severe near-term margin crash (-28.3% YoY ΣPAT drop driven by API pricing/RM costs). Every number on this page traces to its source column; it is machine-written research, not investment advice.
Should I invest in the Pharma - API sector?
Sector Alpha does not publish sector allocations or trading calls — for Pharma - API or any sector. What this page provides is a data-first read: how many constituents are in confirmed uptrends, how the sector's valuation compares with its own history, where earnings sit in their cycle, and whether capital is entering or leaving. Use it to study the sector on the evidence, then do your own diligence.
What is the Pharma - API sector's relative-strength position?
Pharma - API relative strength reads 44.2 on Sector Alpha's rotation map, placing it in the leaders quadrant. Relative strength is rising and has held for 12 weeks. A positive, rising relative-strength trend means the sector has been outperforming the broad market week after week.