Fermenta Biotech Ltd
FERMENTAFermenta Biotech Ltd's price has outrun its earnings. +30.6% in a year against EPS −6.6% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +30.6% in a year while annual EPS moved −6.6% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (10 weeks in) while the P/E sits at the 80th percentile of its own 11-year range. Underneath, the last four quarters read deteriorating — profit −55.9% year on year, and 110% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Fermenta Biotech Ltd trades at ₹475, in a confirmed uptrend and 10 weeks into that stage. That is +24.9% against its own 200-day average. It sits at 71% of a 52-week range of ₹263 to ₹560. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 15 straight weeks.
Today the stock is in a confirmed uptrend — week 10 of stage 2, confirmed. At ₹475 it trades +24.9% versus its 200-day average and sits at 71% of its 52-week range (₹263–₹560).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +686% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 15 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Fermenta Biotech Ltd's story is not scored yet against the markers our research file set on 17 May 2026. Where it sits in its own cycle: EARLY_EXPANSION. Our fortnightly research layers last read it on 19 July 2026.
Our read, 17 May 2026. A structural Vitamin D3 turnaround — margin peak may have passed, but plant-based D3 patent creates a multi-year premium moat if commercialisation lands.
From the numbers. PE at 10.8x vs 10-year median ~20.4x (at 27th percentile). Trough PE was 7x (Dec 2019); peak was 128.9x (Sep 2024, when EPS was deeply negative — distorted). Post-FY25 recovery, the PE cycle is in early expansion. EPS…
From the price. Price stage 2, week 10 — above its 200-day line, relative strength rising.
From the research. A structural Vitamin D3 turnaround — margin peak may have passed, but plant-based D3 patent creates a multi-year premium moat if commercialisation lands.
🚨 Where they disagree. PE at 10.8x vs 10-year median ~20.4x (at 27th percentile). Trough PE was 7x (Dec 2019); peak was 128.9x (Sep 2024, when EPS was deeply negative — distorted). Post-FY25 recovery, the PE cycle is in early expansion. EPS has been volatile: negative FY23-FY24, strong FY25, now decelerating in FY26. pe_pb_cycle segment EXPANSION_STARTED, RIDING_WAVE. The pe_decomposition flag is MIXED (EARNINGS_DISCONNECT) — EPS improvement is real but PAT in FY26 is decelerating from FY25 peak.
What is proven. A structural Vitamin D3 turnaround — margin peak may have passed, but plant-based D3 patent creates a multi-year premium moat if commercialisation lands.
What is not proven yet. Chinese manufacturers dominate animal feed D3 with price-competitive capacity; CARE Ratings flagged margins susceptible to volatility of commodity prices and competition from China under feed grade segment.
🚨 Layer 1 read, 19 July 2026 — DROP. Vitamin D3 margin recovery already peaked and is fading — cheap-looking but spent, not a fresh turn. Fermenta's earnings peaked at EPS 12.54 in Dec 2024 and have since rolled over to 6.52 with OPM compressing from 34% to 18%, so the '0.938 true-story recovery' is an artefact of measuring off a loss base — the real cycle is CONTRACTION. The only forward driver is the plant-based D3 patent, which is multi-quarter optionality rather than near-term fuel, so with fewer than two nameable runway drivers conviction is capped. The stock is also up 46% since its frozen thesis while earnings faded, and it is a Bronze-tier web-fallback row — it ranks to the bottom of keep, held only because it is still profitable with no confirmed forward miss.
What would change Layer 1’s mind. First commercial sale of VITADEE Green (plant-based D3) to a qualifying global customer AND OPM stabilising back above 18% for two quarters — that would convert the patent optionality into a real second-leg driver and make the recovery structural rather than a spent cyclical margin peak [forward milestones M1/M2, C042].
The test written in advance. Chinese Vitamin D3 Competition — Animal Feed Segment Pricing — Chinese Vitamin D3 Competition — Animal Feed Segment Pricing CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures by the next result.
The test written in advance. OPM Cyclicality — FY25 Peak May Not Recur — OPM Cyclicality — FY25 Peak May Not Recur Q4 FY26 and Q1 FY27 OPM trends; real estate revenue contribution declining to zero by the next result.
The test written in advance. Plant-Based D3 Capex Execution Risk — Plant-Based D3 Capex Execution Risk First commercial sale of VITADEE Green; customer qualification announcements by the next result.
What the company does. FY25 represented a dramatic recovery: revenue +39% to ₹481 Cr, PAT ₹76 Cr vs ₹24 Cr loss in FY24, EBITDA ₹122 Cr — driven by Vitamin D3 channel inventory normalisation and realisation recovery. Q3 FY26 signals margin mean-reversion: OPM compressed from 34% (Dec 2024) to 18% (Dec 2025), PAT -25% YoY — the FY25 recovery partially reflected non-recurring real estate and favourable timing. Plant-based Vitamin D3 Indian patent (Sep 2025) + ₹110 Cr capex for vegan D3 production is the forward option — premium pricing if global qualification succeeds, but execution risk is high at Bronze conviction.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Vitamin D3 Demand Recovery — Channel… | HIGH | — | Post-pandemic channel inventory overhang cleared; human nutrition D3 realisations recovered — drove FY25 PAT from loss to Rs 76… | CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures |
| Plant-Based Vitamin D3 Patent + Rs 110 Cr… | MEDIUM_HIGH | — | Indian patent granted Sep 2025 for proprietary plant-based D3 process; Rs 110 Cr capex for commercial scale production — targets… | CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures |
| Geographic Expansion — 60+ Country… | MEDIUM | — | Revenue mix well-diversified: India 40%, Europe 27%, North America 17%, Others 16% (FY25). Limited concentration — top customer… | CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures |
| Green Chemistry / Enzyme Revenue… | MEDIUM | — | Green Chemistry Solutions revenue +64% YoY in 9M FY26; FY25 green chemistry at Rs 38 Cr vs Rs 29 Cr in FY24. Diversification… | CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures |
Lever 1 · Operating leverage — BUILDING. Post-pandemic channel inventory overhang cleared; human nutrition D3 realisations recovered — drove FY25 PAT from loss to Rs 76 Cr. 9M FY26 ex-real-estate EBITDA already +14% above full FY25. What proves it keeps working: Vitamin D3 Demand Recovery — Channel Inventory Normalisation. It stops working if CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures.
Lever 7 · Consolidation — BUILDING. Indian patent granted Sep 2025 for proprietary plant-based D3 process; Rs 110 Cr capex for commercial scale production — targets premium vegan supplement markets globally where premiums over lanolin D3 are structurally higher. What proves it keeps working: Plant-Based Vitamin D3 Patent + Rs 110 Cr Capex. It stops working if CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures.
Lever 10 · New geographies — BUILDING. Revenue mix well-diversified: India 40%, Europe 27%, North America 17%, Others 16% (FY25). Limited concentration — top customer only 9% of revenue. 400+ customers across 60+ countries. What proves it keeps working: Geographic Expansion — 60+ Country Footprint Deepening. It stops working if CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures.
Lever 12 · New product launch — BUILDING. Green Chemistry Solutions revenue +64% YoY in 9M FY26; FY25 green chemistry at Rs 38 Cr vs Rs 29 Cr in FY24. Diversification reduces single-product D3 revenue concentration. What proves it keeps working: Green Chemistry / Enzyme Revenue Diversification. It stops working if CARE Ratings annual review / Fermenta realisation per kg D3 in quarterly disclosures.
Sources: our stock research file (17 May 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Fermenta Biotech Ltd reported ₹122 Cr of revenue in the Jun 26 quarter, −10.6% year on year. Over 10 years it has compounded at 12.9% a year. The last full year, FY26, came in at ₹523 Cr. The last four reported quarters add to ₹511 Cr.
Why this happened. The company received an Indian Patent for its plant-based Vitamin D3 manufacturing process in September 2025. MD Prashant Nagre stated: 'Plant-based Vitamin D3 represents the future of nutrition, and this patent reinforces our ability to deliver differentiated offerings that create long-lasting impact.' The company has completed validation batches of VITADEE Green (plant-source D3 in oil and spray-dried variants) and is in the qualification process with leading global customers. The global shift away from lanolin-derived cholecalciferol toward vegan alternatives is a structural trend cited by multiple industry reports (Technavio: CAGR 7.1% 2025-2030, with plant-based as a key driver).…
FY26 revenue came in at ₹523 Cr (+11.8% on the year), capping 10 years at 12.9% compound. The latest quarter (Jun 26) printed ₹122 Cr, −10.6% year on year.
Pace check: the last four quarters averaged +0.3% growth against the decade's 12.9% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −3.2% over the last 4 quarters against +24.2%/yr over the last 8 — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Fermenta Biotech Ltd's operating margin is 14.8% in the Jun 26 quarter, −5.9 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0% to 39.0%. The current quarter sits inside that band.
Why this happened. Fermenta's FY23 and FY24 losses were directly caused by two factors: (1) channel inventory built during COVID demand spikes took 2 years to normalise, suppressing human nutrition D3 off-take; (2) Chinese capacity expansion compressed animal feed D3 realisations. Both headwinds abated in FY25. The recovery was sharp. CARE Ratings confirmed: 'demand has recovered in FY25 with normalisation of channel inventory in Vitamin D3 products for human consumption, relative stability in realisations in Vitamin D3 products for animal consumption and increased realisation of Vitamin D3 products for human consumption.' 9M FY26 saw Human Nutrition D3 volume +46% YoY and Animal Nutrition +52%. However, Q3…
The latest quarter's operating margin is 14.8%, −5.9 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0%–39.0%.
🚨 Why the margin moved: operating margin went −5.9 pp year on year while gross margin went +3.6 pp — the loss came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Fermenta Biotech Ltd earned ₹9.5 Cr of net profit in the Jun 26 quarter, −55.9% year on year. Full-year FY26 profit was ₹70.0 Cr. The 10-year compound rate is 42.7%. That is 7.8% of the quarter's revenue. The same quarter a year earlier earned ₹21.6 Cr. 3 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹9.5 Cr, −55.9% year on year. On the full year, FY26 printed ₹70.0 Cr (−7.9%), and the 10-year compound rate is 42.7%.
🚨 Why profit moved: revenue contributed −10.6% and the margin −5.9 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −26.6% vs revenue +0.3%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 110% of Fermenta Biotech Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹93.0 Cr of operating cash against ₹70.0 Cr of profit. After ₹12.0 Cr of capital spending, ₹81.0 Cr was left as free cash.
FY26: operating cash of ₹93.0 Cr against reported profit of ₹70.0 Cr, leaving free cash of ₹81.0 Cr after ₹12.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 110% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 110%: the cash cycle tightened 117 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Fermenta Biotech Ltd's cash conversion cycle runs 221 days in FY26, down from 338 days in FY21. Capital spending ran ₹−8.0 Cr over the last 3 years. At FY26 sales of ₹523 Cr each day of that cycle holds about ₹1.4 Cr, so roughly ₹317 Cr sits inside the business at any moment.
FY26: debtors at 78 days, inventory at 290 days — roughly 9.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 221 days, tighter than FY21's 338.
The full loop: cash goes out to suppliers and production on day 0; stock waits 290 days to sell; customers pay about 78 days after that; and suppliers themselves are paid at 147 days — netting out to the 221-day cycle.
In money terms: at FY26 sales of ₹523 Cr, each day of the cycle holds about ₹1.4 Cr — so the 221-day loop keeps roughly ₹317 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹−8.0 Cr over the last 3 fiscal years against ₹71.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹13.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Fermenta Biotech Ltd earns a ROCE of 21% in FY26. That is up from a trough of 0% in FY23. Return on invested capital clears the cost of that capital by −1.9 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 13.4% net margin on 0.81× asset turns.
FY26 ROCE is 21%, recovered from a FY23 trough of 0% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 13.4% net margin × 0.81× asset turns × 1.60× balance-sheet leverage ≈ 17.4% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 10.1% − 12.0% = a −1.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Fermenta Biotech Ltd carries total debt of ₹113 Cr against shareholder equity of ₹401 Cr as of Mar 26, a debt-to-equity of 0.28 — effectively unlevered. On the annual view that ratio went from 0.64 in FY22 to 0.28 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹113 Cr against shareholder equity of ₹401 Cr — a debt-to-equity of 0.28. On the annual view, debt-to-equity went from 0.64 (FY22) to 0.28 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters added 2.0 points of Fermenta Biotech Ltd over 8 quarters, the biggest move on the register. That takes promoters to 64.1% of the company. Foreign institutions moved +0.3 points over the same window, to 0.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +2.0 points over 8 quarters to 64.1%; Foreign institutions: +0.3 points over 8 quarters to 0.4%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.
Why the register moved: promoters drove it (+2.0 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Fermenta Biotech Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Fermenta Biotech Ltd trades at 25.5× P/E, at the pricey end of its own range (80th percentile). Its long-run median P/E is 16.1×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 25.5× is at the pricey end of its own range (80th percentile), against a long-run median of 16.1× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −6.6% against a +30.6% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +11.4%/yr price move, ~+4.8%/yr came from earnings growth and ~+6.6 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 20 July 2026 price, Fermenta Biotech Ltd was paying for profit growth of about 8.9% a year. Profit itself has compounded 42.7% a year over the past 10 years. Today the market pays 25.5× P/E, the 80th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is below what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 20 July 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Fermenta Biotech Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.8% | +14.4% | +6.8% | +12.9% |
| Profit | −7.9% | — | +10.2% | +42.7% |
| EPS | −6.6% | — | +9.5% | — |
| Share price | +30.6% | +43.6% | +11.4% | +23.5% |
4-Factor Sector Score
45.6/100 — rank 9 of 14 in Pharma - API · 74% evidence confidence
Fermenta Biotech Ltd scores 45.6 out of 100 against the 14 companies it is compared with in Pharma - API, ranking 9. Price leads the evidence: RS versus the benchmark is 38.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 5 + 14.3 + 10.8 + 15.5 = 45.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Senores Pharmaceuticals LtdSENORES | 71.5/100Favorable setup75% evidence | LEADER | 32.4/35 Revenue 50.9% · PAT 92.7% · OPM change 5 pp 95% evidence | 17.0/25 ROCE 15.1% · OPM 30% 76% evidence | 9.2/20 P/E 53.5× · PEG — 15% evidence | 12.9/20 RS sector 13.2% · RS bench 51.9% · 1Y 104%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32.4 + 17 + 9.2 + 12.9 = 71.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Wanbury LtdWANBURY | 63.5/100Mixed-positive evidence81% evidence | ASLEEP | 19.9/35 Revenue 3.6% · PAT 30% · OPM change -5.2 pp 95% evidence | 18.6/25 ROCE 30.7% · OPM 9.8% 95% evidence | 14.3/20 P/E 14.1× · PEG — 50% evidence | 10.7/20 RS sector 5.3% · RS bench -4.7% · 1Y -14.5%5 of 11 weeks ahead 70% evidence |
| Exact sum: 19.9 + 18.6 + 14.3 + 10.7 = 63.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Innova Captab LtdINNOVACAP | 57.7/100Mixed-positive evidence100% evidence | LEADER | 24.8/35 Revenue 34.4% · PAT 18.5% · OPM change 1 pp 100% evidence | 13.2/25 ROCE 15% · OPM 16% 100% evidence | 5.9/20 P/E 42.6× · PEG 4.06 100% evidence | 13.8/20 RS sector 4.3% · RS bench 41.6% · 1Y 26.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24.8 + 13.2 + 5.9 + 13.8 = 57.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Ind-Swift Laboratories LtdINDSWFTLAB | 55.2/100Mixed-positive evidence87% evidence | LEADER | 23.1/35 Revenue 53.9% · PAT -74.3% · OPM change 14.6 pp 95% evidence | 6.0/25 ROCE 4.7% · OPM 17% 95% evidence | 6.1/20 P/E 51.5× · PEG — 50% evidence | 20.0/20 RS sector 88.3% · RS bench 147.7% · 1Y 277.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 23.1 + 6 + 6.1 + 20 = 55.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Anuh Pharma LtdANUHPHR | 53.1/100Mixed-positive evidence87% evidence | TURNING | 16.5/35 Revenue 9.7% · PAT -2.2% · OPM change 2 pp 95% evidence | 12.9/25 ROCE 14.9% · OPM 8% 95% evidence | 12.9/20 P/E 21.5× · PEG — 50% evidence | 10.8/20 RS sector -13% · RS bench 20.3% · 1Y 11.8%3 of 12 weeks ahead 100% evidence |
| Exact sum: 16.5 + 12.9 + 12.9 + 10.8 = 53.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Jagsonpal Pharmaceuticals LtdJAGSNPHARM | 51.1/100Mixed-positive evidence87% evidence | BREAKING OUT | 15.7/35 Revenue 3.2% · PAT -24.6% · OPM change 2 pp 95% evidence | 18.9/25 ROCE 22.7% · OPM 21% 95% evidence | 11.1/20 P/E 32.7× · PEG — 50% evidence | 5.4/20 RS sector -16.6% · RS bench 14.2% · 1Y -3.1%11 of 12 weeks ahead 100% evidence |
| Exact sum: 15.7 + 18.9 + 11.1 + 5.4 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Gujarat Themis Biosyn LtdGUJTHEM | 48.2/100Mixed-negative evidence93% evidence | TURNING | 20.1/35 Revenue 16.1% · PAT 6.7% · OPM change 9 pp 100% evidence | 15.6/25 ROCE 14.8% · OPM 48% 100% evidence | 6.9/20 P/E 113× · PEG 2.55 65% evidence | 5.6/20 RS sector -16.4% · RS bench 15% · 1Y 10.3%5 of 12 weeks ahead 100% evidence |
| Exact sum: 20.1 + 15.6 + 6.9 + 5.6 = 48.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Aarti Drugs LtdAARTIDRUGS | 46.8/100Mixed-negative evidence100% evidence | BREAKING OUT | 17.7/35 Revenue 10.5% · PAT 1.1% · OPM change 1 pp 100% evidence | 12.0/25 ROCE 12% · OPM 14% 100% evidence | 11.7/20 P/E 20.3× · PEG 2.4 100% evidence | 5.4/20 RS sector -22.6% · RS bench 6.9% · 1Y -9.1%9 of 12 weeks ahead 100% evidence |
| Exact sum: 17.7 + 12 + 11.7 + 5.4 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Fermenta Biotech Ltdthis pageFERMENTA | 45.6/100Mixed-negative evidence74% evidence | BREAKING OUT | 5.0/35 Revenue -3.1% · PAT -44% · OPM change -5.9 pp 95% evidence | 14.3/25 ROCE 20.6% · OPM 14.8% 95% evidence | 10.8/20 P/E 25.5× · PEG — 15% evidence | 15.5/20 RS sector 15.7% · RS bench 38.2% · 1Y 42%9 of 9 weeks ahead 70% evidence |
| Exact sum: 5 + 14.3 + 10.8 + 15.5 = 45.6 · Decision use: Price leads the evidence: RS versus the benchmark is 38.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Beta Drugs LtdBETA | 45.0/100Mixed-negative evidence76% evidence | BREAKING OUT | 11.6/35 Revenue -11.3% · PAT -14.8% · OPM change 2 pp 95% evidence | 18.4/25 ROCE 19.2% · OPM 22% 76% evidence | 7.6/20 P/E 51.5× · PEG — 50% evidence | 7.4/20 RS sector -17.9% · RS bench 28% · 1Y 11.5%10 of 10 weeks ahead 70% evidence |
| Exact sum: 11.6 + 18.4 + 7.6 + 7.4 = 45 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Kopran LtdKOPRAN | 40.1/100Mixed-negative evidence81% evidence | TURNING | 14.5/35 Revenue 12% · PAT -28.4% · OPM change -0.2 pp 95% evidence | 9.6/25 ROCE 6.7% · OPM 10.3% 95% evidence | 7.1/20 P/E 45.5× · PEG — 50% evidence | 8.9/20 RS sector -17.6% · RS bench 46.7% · 1Y 32.9%10 of 11 weeks ahead 70% evidence |
| Exact sum: 14.5 + 9.6 + 7.1 + 8.9 = 40.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Orchid Pharma LtdORCHPHARMA | 36.9/100Mixed-negative evidence78% evidence | BREAKING OUT | 17.4/35 Revenue 14.1% · PAT -80% · OPM change 6.8 pp 74% evidence | 1.8/25 ROCE 1.7% · OPM 4.6% 100% evidence | 10.5/20 P/E 333× · PEG 1.77 65% evidence | 7.2/20 RS sector -19.8% · RS bench 30.5% · 1Y 40.7%11 of 11 weeks ahead 70% evidence |
| Exact sum: 17.4 + 1.8 + 10.5 + 7.2 = 36.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Aarti Pharmalabs LtdAARTIPHARM | 33.8/100Adverse evidence94% evidence | BREAKING OUT | 10.2/35 Revenue 1.2% · PAT -20.2% · OPM change 1 pp 100% evidence | 11.8/25 ROCE 10.7% · OPM 25% 100% evidence | 3.4/20 P/E 34.8× · PEG 5.52 100% evidence | 8.4/20 RS sector -10.7% · RS bench 13.2% · 1Y -6.3%5 of 10 weeks ahead 70% evidence |
| Exact sum: 10.2 + 11.8 + 3.4 + 8.4 = 33.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Themis Medicare LtdTHEMISMED | 28.5/100Adverse evidence72% evidence | LEADER | 6.1/35 Revenue -12.9% · PAT 100% · OPM change -50 pp 71% evidence | 2.5/25 ROCE 2.7% · OPM -60% 95% evidence | 8.5/20 P/E 939.2× · PEG — 15% evidence | 11.4/20 RS sector -8.6% · RS bench 25.2% · 1Y 27.9%9 of 12 weeks ahead 100% evidence |
| Exact sum: 6.1 + 2.5 + 8.5 + 11.4 = 28.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
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.
Frequently asked questions
What is Fermenta Biotech Ltd's share price today?
Fermenta Biotech Ltd trades at ₹475, +30.6% over the past year. The company is valued at ₹1,397 Cr. The stock sits at 71% of its 52-week range of ₹263–₹560, +24.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 10 weeks in. — as of 11 September 2026.
What were Fermenta Biotech Ltd's latest quarterly results?
Fermenta Biotech Ltd reported revenue of ₹122 Cr and net profit of ₹9.5 Cr for the Jun 26 quarter. Revenue fell 10.6% and profit fell 55.9% year on year. Earnings per share were ₹3.31. The operating margin was 14.8%, 5.9 pp lower than a year earlier. — as of 11 September 2026.
What is Fermenta Biotech Ltd's revenue?
Fermenta Biotech Ltd reported revenue of ₹122 Cr in the Jun 26 quarter, −10.6% year on year. For the full FY26 fiscal year, revenue was ₹523 Cr (+11.8%). Over the last 10 years revenue compounded at 12.9% a year. — as of 11 September 2026.
What is Fermenta Biotech Ltd's profit?
Fermenta Biotech Ltd earned ₹9.5 Cr of net profit in the Jun 26 quarter, −55.9% year on year. Full-year FY26 profit was ₹70.0 Cr. The operating margin ran 14.8% in the latest quarter. — as of 11 September 2026.
What is Fermenta Biotech Ltd's market cap?
Fermenta Biotech Ltd's market capitalisation is ₹1,397 Cr at a share price of ₹475. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Fermenta Biotech Ltd's P/E ratio?
Fermenta Biotech Ltd trades at a P/E of 25.5×, at the 80th percentile of its own 11-year range, against a long-run median of 16.1×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Fermenta Biotech Ltd pay a dividend?
Yes — Fermenta Biotech Ltd's dividend payout was 15% of profit in FY26, and it recorded a payout in 9 of its last 13 reported fiscal years. 4 of those years show a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Fermenta Biotech Ltd overvalued?
On its own history, Fermenta Biotech Ltd looks expensive: its P/E of 25.5× sits at the 80th percentile of its 11-year range (long-run median 16.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Fermenta Biotech Ltd growing?
Not right now — Fermenta Biotech Ltd's latest numbers are shrinking: latest-quarter revenue −10.6% year on year, profit −55.9%, and the margin −5.9 pp at 14.8%. The 10-year compound rates are 12.9% (revenue) and 42.7% (profit). The earnings engine currently reads: deteriorating — as of 11 September 2026.
How is Fermenta Biotech Ltd performing?
Fermenta Biotech Ltd is in a confirmed uptrend, 10 weeks in. Its latest quarter's revenue fell 10.6% and profit fell 55.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 15 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
Is Fermenta Biotech Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 10 of stage 2), trading +24.9% versus its 200-day average and at 71% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Fermenta Biotech Ltd beating the market?
On recent form, yes — Fermenta Biotech Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 15 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +686% against the NIFTY 500's +267% — ahead of the index over the full window. — as of 11 September 2026.
Will Fermenta Biotech Ltd's share price go up?
This page publishes no price forecast for Fermenta Biotech Ltd. What it measures instead: the share price is ₹475, the price is in a confirmed uptrend 10 weeks in. Its P/E of 25.5× sits at the 80th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Fermenta Biotech Ltd?
Promoters hold 64.1% of Fermenta Biotech Ltd, foreign institutions 0.4%, domestic institutions 0.0% and the public 33.0% (latest quarter). The biggest move on the register over the last two years: Promoters added 2.0 points over 8 quarters. — as of 11 September 2026.
Does Fermenta Biotech Ltd have too much debt?
No — Fermenta Biotech Ltd's debt-to-equity is 0.28, and operating profit covers the interest bill 8×. FY26 borrowings were ₹113 Cr against equity of ₹406 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Fermenta Biotech Ltd's capex?
Fermenta Biotech Ltd spent ₹−8.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹12.0 Cr, with ₹13.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Fermenta Biotech Ltd's cash flow?
Fermenta Biotech Ltd generated ₹93.0 Cr of operating cash flow in FY26 and ₹81.0 Cr of free cash flow after ₹12.0 Cr of capital spending. Reported profit that year was ₹70.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Fermenta Biotech Ltd's profit real cash?
Yes — over the last 3 fiscal years, 110% of Fermenta Biotech Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹93.0 Cr against reported profit of ₹70.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Fermenta Biotech Ltd in its business cycle?
Fermenta Biotech Ltd's FY26 operating margin was 19.0%, against a 13-year band of 5.0%–39.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 14.8%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Fermenta Biotech Ltd's price assume?
At its price on 20 July 2026, Fermenta Biotech Ltd was priced for profit growth of about 8.9% a year. Profit itself has compounded 42.7% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Fermenta Biotech Ltd story?
The sharpest disagreement: the price moved +30.6% in a year while annual EPS moved −6.6% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Fermenta Biotech Ltd a stock worth studying right now?
This is not investment advice. The machine read: Fermenta Biotech Ltd's price has outrun its earnings. +30.6% in a year against EPS −6.6% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!