Innova Captab share price today

Innova Captab Ltd's share price was ₹1,035.00 at the close on 4 November 2026. It has been rising for 23 weeks. That is 8.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹668 and ₹1,283, and at that close it sat 60% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Innova Captab Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 14 weeks in a row.

Over the last 2.8 years the share price moved +91% while the NIFTY 500 moved +13%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), foreign funds (FIIs) raised their stake for 4 quarters in a row and highest quarterly profit in 15 quarters.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹471 crore, +33.8% on a year earlier.

   Why: Revenue rose because both main businesses sold more. CDMO and branded generics grew on steady orders, a wider product range and deeper ties with existing customers.

   Next results: check whether Jammu revenue and plant profit keep improving after the seasonal quarter.

   From the earnings call on 12 Aug 2026.

2. Foreign funds (FIIs) raised their stake for 4 quarters in a row

   From 0.1% to 0.9% of the company by the September 2026 quarter.

3. Highest quarterly profit in 15 quarters

   Profit of ₹44 crore in the June 2026 quarter is the highest of the last 15 quarters.

   Why: Profit rose because the new Jammu plant began making a small operating profit and sales grew on higher volumes and a better product mix.

   Next results: check whether Jammu keeps adding profit and profit starts growing faster than sales.

   From the earnings call on 12 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Innova Captab reported revenue of ₹471 crore, up 33.8% from ₹352 crore a year earlier, and a profit of ₹44.0 crore, up 41.9% from ₹31.0 crore.

Innova Captab results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Innova Captab's management discussed these results on a call held on 12 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Innova Captab closed at ₹1,035.00 on 4 November 2026, up 34.9% from ₹767.50 a year earlier (7 November 2025). Its highest weekly close since December 2023 was ₹1,282.80 on 28 September 2026.

Innova Captab share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

158 weekly closes from 29 December 2023 to 4 November 2026.

4 Nov 2026: Innova Captab closed at ₹1,035.00, up 0.9% on the week and down 11.4% on the month. Our read, 22 Aug 2026: The latest quarter delivered revenue and profit growth while Jammu reported positive operating profit for the first time. Management retained the full-year revenue framework and expects profit growth to exceed revenue growth as utilization rises.

Earlier

• 12 Aug 2026: Innova Captab held its results call for April to June 2026. Management guided: FY27 revenue growth of 20% with profitability outpacing revenue.
• Results for April to June 2026: Revenue up 33.8% and profit up 41.9% on a year earlier.
• 30 Jan 2026: ex-date for an interim dividend of ₹2 a share.

Our read of the business

The latest quarter delivered revenue and profit growth while Jammu reported positive operating profit for the first time. Management retained the full-year revenue framework and expects profit growth to exceed revenue growth as utilization rises.

Latest quarter: Jammu reached positive operating profit as revenue and profit rose from the prior-year quarter.

Our read after the latest results, written 22 August 2026.

Innova Captab paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.19% at the ₹1,035.00 close on 4 November 2026. The last was an interim dividend of ₹2 a share, ex-date 30 January 2026.

Innova Captab dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Innova Captab Ltd paid out 8% of its profit as dividends in FY26, and it paid a dividend in 1 of its last 8 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 12 August 2026, Innova Captab's management guided: FY27 revenue growth of 20% with profitability outpacing revenue.

“We remain confident of delivering on our guidance of 20% revenue growth, with profitability outpacing revenue for FY27.”Vinay Lohariwala, Managing Director, on the call for April to June 2026

What management guided

• FY27 volume growth above 20% at constant price; organic base business expected in the early teens, with Jammu supplying the balance.
• Normalized operating margin framework remains 15%-16% plus or minus 2 percentage points; FY27 gross margin within the current level plus or minus 2 percentage points.
• Jammu Penem, Beta and Cepha capacity sufficient for 2-3 years; optimum revenue ₹1,000-1,200 crore at 65%-70% utilization and asset turns north of 3.0x.
• Group cash conversion cycle maintained at 90 days plus or minus 10 days.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 12 August 2026.

What is changing at Innova Captab, from the latest results and calls: jammu fixed-cost absorption, volume-led cdmo and branded-generics growth and regulated-market approvals.

• Jammu fixed-cost absorption. Jammu reported positive plant operating profit as quarterly revenue rose, providing the first direct evidence that utilization can convert fixed costs into profit. ⚠ estimate
• Volume-led CDMO and branded-generics growth. Management cited volume growth, new customers and deeper wallet share as the primary sources of current growth. ⚠ estimate
• Regulated-market approvals. Completed approvals and expanding ROW coverage can increase the addressable customer base for Jammu and export products. ⚠ estimate
• Existing-capacity debottlenecking. Management now frames growth capital spending around existing capabilities and debottlenecking rather than a confirmed Baddi greenfield build. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 22 August 2026.

A subsequent quarter that shows Jammu reverting to negative operating profit while consolidated revenue growth falls below management's full-year framework would break the fixed-cost-absorption thesis.

Each change stops working if

• Jammu fixed-cost absorption: Jammu reports negative operating profit again or revenue traction stalls despite completed approvals.
• Volume-led CDMO and branded-generics growth: Customer onboarding or wallet-share expansion fails to convert into reported consolidated revenue growth.
• Regulated-market approvals: Approvals do not translate into audits, onboarding or visible Jammu revenue.
• Existing-capacity debottlenecking: The board-approved plan remains absent and debottlenecking does not add measurable capacity or revenue.

The main risks

• Jammu capacity economics revised lower: Management lowered Jammu's stated optimum revenue range versus the prior indication without explaining the change. ✓ fact
• Baddi expansion ambiguity: The earlier Baddi project range has softened into baseline-stage planning and smaller debottlenecking spend. ✓ fact
• Working-capital and capital spending absorption: Cash generation has funded a large growth build, leaving free cash flow constrained by capital spending and working capital. ⚠ estimate
• Disclosure limits: Management deferred detailed Jammu utilization, Baddi scope and several segment breakouts. ✓ fact

Our read after the latest results, written 22 August 2026.

When Innova Captab reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Jammu revenue, utilization and plant operating profit to continue improving as the post-Q1 seasonal period begins.

Innova Captab is on one of our India lists: Pharma stocks.

Innova Captab Ltd earned ₹44.0 Cr of net profit in the Jun 2026 quarter, +41.9% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹141 Cr. Over 7 years profit has grown 32.2% a year on average. That is 9.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹31.0 Cr.

For the full year, FY26 profit was ₹141 Cr (+10.2% on the year before).

Why profit moved: revenue changed +33.8% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +19.4% and revenue +34.5%. Profit is growing slower than sales: rising costs are taking part of the growth.

Innova Captab Ltd reported ₹471 Cr of revenue in the Jun 2026 quarter, +33.8% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 7 years it has grown 24.3% a year on average. The last full year, FY26, came in at ₹1,630 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,749 Cr.

FY26 revenue was ₹1,630 Cr, +31.0% on the year before.

Recent pace: the last four quarters grew +34.5% on average, against 24.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +34.4%, against +23.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +18.5%, against +20.5% a year (stabilising).

Innova Captab Ltd's operating margin was 16.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 8 years it has been between 11.0% and 15.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The operating-leverage catapult applies only if plant EBITDA stays positive as volumes scale. Management attributes the mechanism to customer and product onboarding, audits and dossier approvals; the current print is evidence, not a completed facility-level return profile.

Why the margin moved: operating margin changed +0.7 percentage points on the year while gross margin changed −1.8 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 90% of Innova Captab Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹117 Cr of operating cash against ₹141 Cr of profit. After ₹50.0 Cr of spending on assets, ₹67.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 90% of profit came in as cash: the cash cycle got 17 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 8.6× depreciation over three years. The next section checks what that spending is building.

Innova Captab Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 82 days in FY26, down from 99 days in FY21. It spent ₹739 Cr on assets over the last 3 years. Customers take 98 days to pay, and stock sits for 125 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,630 Cr, each day of that cycle ties up about ₹4.5 Cr, so roughly ₹366 Cr is tied up in the business at any time.

FY26: customers took 98 days to pay and stock sat for 125 days, about 4.1 months of sales sitting as stock, for a full cycle of 82 days, shorter than FY21's 99.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 125 days. Customers pay about 98 days after that. Suppliers are paid at 141 days. Together that makes the 82-day cycle.

Spending on assets: ₹739 Cr over the last 3 years, against ₹86.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹16.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Innova Captab Ltd's P/E is 38.5×, in the middle of its own history: higher than 45% of past readings. Its usual P/E (the middle reading) is 38.8×, over 2.8 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.

Why the multiple is where it is: over the past year earnings per share moved +9.9% while the price moved +34.9%. The price did better than earnings, which pushed the multiple up within its own range.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

Worked out from its price on 25 August 2026, Innova Captab Ltd's share price assumed profit growth of about 23.3% a year. Over the past 7 years its profit actually grew 32.2% a year. Today its P/E is 38.5×, lower than 55% of its own last 2.8 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 25 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

Innova Captab Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.4%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: steady growth with healthy returns is how a business compounds over time.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Innova Captab Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: EARLY EXPANSION. Still open: A subsequent quarter that shows Jammu reverting to negative EBITDA while consolidated revenue growth falls below management's full-year framework would break the fixed-cost-absorption thesis.

NOT YET CHECKED

From the price. Price stage 2, week 23, above its 200-day line, relative strength falling.

What is not proven yet. A subsequent quarter that shows Jammu reverting to negative EBITDA while consolidated revenue growth falls below management's full-year framework would break the fixed-cost-absorption thesis.

What would change our mind. A subsequent quarter that shows Jammu reverting to negative EBITDA while consolidated revenue growth falls below management's full-year framework would break the fixed-cost-absorption thesis.

The test written in advance. A subsequent quarter that shows Jammu reverting to negative EBITDA while consolidated revenue growth falls below management's full-year framework would break the fixed-cost-absorption thesis. Measured by: the thesis as written as stated by the next result.

The test written in advance. Jammu capacity economics revised lower. Measured by: Jammu capacity economics revised lower Jammu revenue and EBITDA disclosed in the next concall. by the next result.

What the company does. The latest quarter delivered revenue and profit growth while Jammu reported positive EBITDA for the first time. Management retained the full-year revenue framework and expects profit growth to exceed revenue growth as utilization rises.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changebuilding
• 4 · Paying down debtbuilding
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 1 · Operating leverage: building. Jammu reported positive plant EBITDA as quarterly revenue rose, providing the first direct evidence that utilization can convert fixed costs into profit. What proves it keeps working: Jammu fixed-cost absorption. It stops working if Jammu reports negative EBITDA again or revenue traction stalls despite completed approvals.

Lever 2 · Value-added mix: building. Management cited volume growth, new customers and deeper wallet share as the primary sources of current growth. What proves it keeps working: Volume-led CDMO and branded-generics growth. It stops working if Customer onboarding or wallet-share expansion fails to convert into reported consolidated revenue growth.

Lever 3 · Management change: building. Completed approvals and expanding ROW coverage can increase the addressable customer base for Jammu and export products. What proves it keeps working: Regulated-market approvals. It stops working if Approvals do not translate into audits, onboarding or visible Jammu revenue.

Lever 4 · Paying down debt: building. Management now frames growth capex around existing capabilities and debottlenecking rather than a confirmed Baddi greenfield build. What proves it keeps working: Existing-capacity debottlenecking. It stops working if The board-approved plan remains absent and debottlenecking does not add measurable capacity or revenue.

Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Innova Captab Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

Baddi Expansion Plan Materially Softened · 12 August 2026. In May 2026, management described the new Baddi block as a planned FY27-FY28 project with an expected capital outlay of INR150-170 crores. In Aug 2026, management instead described growth capex of only around 20-30 crores for debottlenecking and existing capabilities, while stating that the Baddi plot plan was still at a baseline stage; no explanation was provided for the apparent retreat in commitment and timing.

Jammu Revenue Potential Reduced · 12 August 2026. The latest call lowered the stated optimum revenue potential of the Jammu facility from around INR1,400 crores plus to INR1,000-1,200 crores. The latest range is materially below the prior indication, including a lower utilization range, and management did not explain the change in the facility's expected economics.

Q4 FY26 Jammu Sequential Ramp-up Not Delivered Despite Explicit Prior Quarter Optimism · 8 May 2026. In the Jan 2026 prepared remarks, management specifically expressed optimism about a Jammu operational ramp-up in the coming quarter (Q4 FY26), which carried credibility given the strong Q3 sequential jump from approximately Rs. 60 crores per quarter in H1 to Rs. 89 crores. In the May 2026 call, management revealed the Q4 Jammu exit run rate was only 90 crore plus - approximately Rs. 91 crores and essentially flat versus Q3's Rs. 89 crores - representing under 2% sequential growth with no meaningful ramp-up. Management offered no explanation in the May 2026 call for why the Q4 acceleration that was specifically guided for in the prepared remarks failed to materialize.

Jammu Facility Revenue Guidance Cut · 27 January 2026. In the August 2025 call, management explicitly guided for ₹400 crores in revenue from the Jammu facility for the current financial year. However, in the January 2026 call, this goal was significantly lowered to a range of ₹270-280 crores, representing a ~30% reduction from the initial expectation. Earlier call (Aug 2025): “The Jammu revenue anticipated for this financial year as we submitted in our earlier discussions is ₹ 400 crores.” Later call (Jan 2026): “For this year, we would like to maintain that guidance. it will remain in the range of 270-280 crores.”

Every quote above is taken word for word from the company’s own earnings calls.

Sharon integration supports capital-allocation skill through stress, but three recent guidance misses prevent a strong grade.

Regulatory and governance record

GST demands and penalties were dropped, but FY26 audited statements were revised for identified errors with an unmodified opinion.

Checked 30 August 2026.

Innova Captab Ltd earned a ROCE of 15% in FY26. Its return on capital used (ROIC) is 0.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 8.7% net margin and 0.89× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 8.7% net margin × 0.89× asset turnover × 1.68× leverage (assets divided by equity) ≈ 13.0% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 11.4% − 12.0% = −0.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Innova Captab Ltd has total debt of ₹344 Cr against shareholder equity of ₹1,091 Cr as of Jun 2026, so its debt is 0.32× its equity. Year by year, that ratio went from 0.95 in FY22 to 0.32 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Why this happened. This route can support nearer-term growth with lower capital intensity, but it also removes the certainty of the earlier Baddi capacity plan. The driver is conditional on a board-approved scope or disclosed execution milestones.

Domestic institutions cut their stake in Innova Captab Ltd by 1.4 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 19.2% of the company. Foreign institutions moved −0.2 points over the same period, to 0.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why this happened. The regulatory-unblocking catalyst is relevant because management cites completed PIC/S approval, further ROW and European product approvals, and customer onboarding as the bridge from capacity to revenue.

Over the last two years: Domestic institutions: −1.4 points over 8 quarters, to 19.2%; Foreign institutions: −0.2 points over 8 quarters, to 0.8%; Promoters: +0.0 points over 8 quarters, to 50.9%.

Why the owners changed: domestic institutions drove it (−1.4 points). They reduced their stake.

For Innova Captab Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

59.7 out of 100, rank 3 of 14 in Pharma - API, with 96% of the evidence available.

Innova Captab Ltd scores 59.7 out of 100 against the 14 companies it is compared with in Pharma - API, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 23.6 + 13 + 7.3 + 15.8 = 59.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Innova Captab ranks 3 of 14 Pharma - API companies on the 4-Factor Sector Score, with 59.7 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Pharma - API, all 14 compared on one page.

Innova Captab is the 2nd largest of 14 Pharma - API companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Aarti Pharmalabs. Just below it: Senores Pharmaceuticals, Orchid Pharma, Gujarat Themis Biosyn, Aarti Drugs and Ind-Swift Laboratories.

Pharma - API companies close in size

1. Aarti Pharmalabs Ltd ₹7,914 crore
2. Innova Captab Ltd ₹5,867 crore
3. Senores Pharmaceuticals Ltd ₹5,222 crore
4. Orchid Pharma Ltd ₹5,009 crore
5. Gujarat Themis Biosyn Ltd ₹4,727 crore
6. Aarti Drugs Ltd ₹3,972 crore
7. Ind-Swift Laboratories Ltd ₹3,202 crore

All 14 Pharma - API companies, largest first

Companies close in size in other industries

775. Indian Metals & Ferro Alloys Ltd ₹5,887 crore · Mining/Minerals
776. V-Mart Retail Ltd ₹5,885 crore · Textiles - Readymade Apparel
777. Innova Captab Ltd ₹5,867 crore
778. Technocraft Industries (India) Ltd ₹5,858 crore · Scaffolding
779. Electronics Mart India Ltd ₹5,838 crore · Retail - Electronics

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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