# Innova Captab share price today (Innova Captab Ltd, NSE: INNOVACAP)

> Innova Captab share price today: ₹1,003.30 at the NSE close on 3 November 2026, up 20.7% in a year. Innova Captab (NSE: INNOVACAP) is worth ₹5,743 crore, trades at a P/E of 37.3 and has closed between ₹668.25 and ₹1,282.80 over the past 52 weeks. > Innova Captab Ltd's results are improving, while its P/E is near the low end of its own history over 2.8 years, higher than only 32% of past readings. INNOVACAP · Pharma - API · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/innova-captab-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹1,003.30 (+20.7% in a year)
- P/E: 37.3× (lower than 68% of the last 2.8 years)
- Revenue (Jun 2026): ₹471 Cr (+33.8% on a year ago)
- Profit (Jun 2026): ₹44.0 Cr (+41.9% on a year ago)
- Operating margin: 16.0% (+1.0 points on a year ago)
- ROCE: 15%, FY26
- ROIC: 11.4%, against a 12.0% cost of capital: −0.6 points

Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. ## What is the Innova Captab share price today? Innova Captab Ltd's share price was ₹1,003.30 at the close on 3 November 2026. It has been rising for 23 weeks. That is 5.1% 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 55% of the way up from that low. 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 +85% 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. ## What changed at Innova Captab this quarter? 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. ## What are Innova Captab's latest quarterly results? 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

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹471 crore | ₹352 crore | +33.8% |
| Profit | ₹44.0 crore | ₹31.0 crore | +41.9% |
| Earnings per share | ₹7.71 | ₹5.42 | +42.3% |
| Operating margin | 16.0% | 15.0% | +1.0 points |

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.)

## What is the Innova Captab share price history? Innova Captab closed at ₹1,003.30 on 3 November 2026, up 20.7% from ₹831.10 a year earlier (31 October 2025). Its highest weekly close since December 2023 was ₹1,282.80 on 28 September 2026. ### Innova Captab share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹987.30 | +1.6% |
| 1 month ago · 1 Oct 2026 | ₹1,168.00 | −14.1% |
| 6 months ago · 30 Apr 2026 | ₹752.05 | +33.4% |
| 1 year ago · 31 Oct 2025 | ₹831.10 | +20.7% |
| Earliest weekly close in our records · 29 Dec 2023 | ₹541.40 | +85.3% |
| Highest weekly close since December 2023, also the 52-week high · 28 Sep 2026 | ₹1,282.80 | −21.8% |
| Lowest weekly close since December 2023 · 28 Mar 2024 | ₹449.55 | +123.2% |
| 52-week low (weekly close) · 27 Feb 2026 | ₹668.25 | +50.1% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (158 weekly closes from 29 December 2023 to 3 November 2026.)

## What is the latest news on Innova Captab? 3 Nov 2026: Innova Captab closed at ₹1,003.30, up 1.6% on the week and down 14.1% 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.)

## What dividend does Innova Captab pay? Innova Captab paid ₹2 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.20% at the ₹1,003.30 close on 3 November 2026. The last was an interim dividend of ₹2 a share, ex-date 30 January 2026. ### Innova Captab dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 30 Jan 2026 | ₹2 | Interim |

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. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Innova Captab management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/49851/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 12 August 2026.)

## What is the future of Innova Captab? What is changing in the business? 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.)

## What could change the Innova Captab story? What are the risks? 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.)

## What to watch in Innova Captab's next results? 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. - What to check (from the call)
- Jammu revenue, utilization and plant operating profit to continue improving as the post-Q1 seasonal period begins. - Additional ROW and European product approvals to convert into customer onboarding and visible Jammu revenue traction. - Volume-led consolidated growth to remain on framework, with profitability beginning to outpace revenue as Jammu scales. - Baddi plot planning to move beyond baseline toward a concrete, board-approved scope, or remain unquantified. ## Which stock lists is Innova Captab on? Innova Captab is on one of our India lists: Pharma stocks. [Pharma stocks Market value (₹ crore): 5729.094313859359](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Innova Captab profitable? 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. 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. ## How much revenue does Innova Captab make, and is it growing? 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. 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). ## How much of every ₹100 of sales does Innova Captab keep? 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. 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. ## Is Innova Captab's profit turning into cash? 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. 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. ## Where does Innova Captab's cash go? 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. 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. ## What is Innova Captab's P/E ratio, and how does it compare with its own history? Innova Captab Ltd's P/E is 37.3×, near the low end of its own history: it has been lower only 32% of the time. 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. 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 +20.7%. The price did better than earnings, which pushed the multiple up within its own range. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Innova Captab share price assume? 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 37.3×, lower than 68% of its own last 2.8 years. 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 3 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. ## Is the Innova Captab business getting better or worse? 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. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Innova Captab story, and has it been checked? 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. Our read, 22 August 2026. From the numbers. From the price. Price stage 2, week 23, above its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. 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. 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. What the surface reading misses. What the surface reading misses. 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. ## Did Innova Captab management deliver what it promised? 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. ## What is Innova Captab management's track record? 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. 0% Promoter shares pledged

Sources:

- [goodreturns.in](https://www.goodreturns.in/company/innova-captab/director-report.html)
- [scanx.trade](https://scanx.trade/stock-market-news/companies/innova-captab-limited-gst-proceedings-concluded-with-no-liability/37722174)
- [moneyworks4me.com](https://www.moneyworks4me.com/share-price/innovacap/innova-captab-ltd)

(Checked 30 August 2026.)

## How much does Innova Captab earn on its capital? 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). 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. ## Does Innova Captab have too much debt? 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. 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. ## What is the Innova Captab shareholding pattern? 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. 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. ## How far is Innova Captab from balance-sheet trouble? 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. ## How does Innova Captab rank in its industry? 60.1 out of 100, rank 3 of 14 in Pharma - API, with 96% of the evidence available. Innova Captab Ltd scores 60.1 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: 24 + 13 + 7.3 + 15.8 = 60.1. 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. ## Which companies is Innova Captab compared with? Innova Captab ranks 3 of 14 Pharma - API companies on the 4-Factor Sector Score, with 60.1 out of 100. 1. [Anuh Pharma Ltd](https://www.sectoralpha.in/stocks/anuh-pharma-ltd) ANUHPHR · breaking out · Evidence leans up · 100% evidence 64.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.1/35 · Revenue 6.6% · Profit 23.7% · Operating margin change 3 points · 100% evidence Capital efficiency 13.8/25 · ROCE 14.9% · Operating margin 9% · 100% evidence Valuation 17.8/20 · P/E 18.3× · PEG 0.31 · 100% evidence Relative strength 11.5/20 · Lead over its industry -7.9% · Lead over NIFTY 500 14.5% · 1 year -3.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 21.1 + 13.8 + 17.8 + 11.5 = 64.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Senores Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/senores-pharmaceuticals-ltd) SENORES · quiet · Evidence leans up · 75% evidence 61.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.2/35 · Revenue 38.9% · Profit 62.4% · Operating margin change -1 points · 95% evidence Capital efficiency 16.4/25 · ROCE 15.1% · Operating margin 30% · 76% evidence Valuation 9.2/20 · P/E 39.1× · PEG n/a · 15% evidence Relative strength 7.4/20 · Lead over its industry -6.3% · Lead over NIFTY 500 12.6% · 1 year 47% · 100% evidence · 7 of 12 weeks ahead Exact sum: 28.2 + 16.4 + 9.2 + 7.4 = 61.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. Innova Captab Ltd this page INNOVACAP · leader · Evidence leans up · 96% evidence 60.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 34.4% · Profit 18.5% · Operating margin change 1 points · 88% evidence Capital efficiency 13.0/25 · ROCE 15% · Operating margin 16% · 100% evidence Valuation 7.3/20 · P/E 38.1× · PEG 4.06 · 100% evidence Relative strength 15.8/20 · Lead over its industry 3.4% · Lead over NIFTY 500 25.3% · 1 year 23.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24 + 13 + 7.3 + 15.8 = 60.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Beta Drugs Ltd](https://www.sectoralpha.in/stocks/beta-drugs-ltd) BETA · losing its lead · Evidence leans up · 67% evidence 56.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.8/35 · Revenue 15.3% · Profit 26.2% · Operating margin change 1 points · 95% evidence Capital efficiency 18.4/25 · ROCE 19.2% · Operating margin 22% · 76% evidence Valuation 8.0/20 · P/E 38.5× · PEG n/a · 50% evidence Relative strength 10.5/20 · Lead over its industry n/a · Lead over NIFTY 500 11.2% · 1 year -3.1% · 25% evidence · 8 of 12 weeks ahead Exact sum: 19.8 + 18.4 + 8 + 10.5 = 56.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Ind-Swift Laboratories Ltd](https://www.sectoralpha.in/stocks/ind-swift-laboratories-ltd) INDSWFTLAB · leader · Evidence leans up · 82% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue 29.9% · Profit -64.1% · Operating margin change 14.3 points · 95% evidence Capital efficiency 8.3/25 · ROCE 4.9% · Operating margin 19% · 76% evidence Valuation 7.1/20 · P/E 34.9× · PEG n/a · 50% evidence Relative strength 20.0/20 · Lead over its industry 71.6% · Lead over NIFTY 500 98.2% · 1 year 257.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21 + 8.3 + 7.1 + 20 = 56.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Wanbury Ltd](https://www.sectoralpha.in/stocks/wanbury-ltd) WANBURY · quiet · Evidence leans up · 81% evidence 55.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.0/35 · Revenue 3.6% · Profit 30% · Operating margin change -5.2 points · 88% evidence Capital efficiency 16.6/25 · ROCE 30.7% · Operating margin 9.8% · 100% evidence Valuation 19.2/20 · P/E 11.2× · PEG 0.34 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -19.7% · 1 year -27.9% · 25% evidence · 0 of 12 weeks ahead Exact sum: 12 + 16.6 + 19.2 + 7.5 = 55.3 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Gujarat Themis Biosyn Ltd](https://www.sectoralpha.in/stocks/gujarat-themis-biosyn-ltd) GUJTHEM · turning · Evidence leans up · 89% evidence 55.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.6/35 · Revenue 16.1% · Profit 6.7% · Operating margin change 9 points · 88% evidence Capital efficiency 18.1/25 · ROCE 18.1% · Operating margin 48% · 100% evidence Valuation 10.3/20 · P/E 97.1× · PEG 1.33 · 65% evidence Relative strength 7.2/20 · Lead over its industry -16.3% · Lead over NIFTY 500 3.7% · 1 year -21.7% · 100% evidence · 5 of 12 weeks ahead Exact sum: 19.6 + 18.1 + 10.3 + 7.2 = 55.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Aarti Drugs Ltd](https://www.sectoralpha.in/stocks/aarti-drugs-ltd) AARTIDRUGS · turning · Evidence leans up · 96% evidence 50.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue 10.5% · Profit 1.1% · Operating margin change 1 points · 88% evidence Capital efficiency 13.4/25 · ROCE 12% · Operating margin 14% · 100% evidence Valuation 8.2/20 · P/E 20.6× · PEG 3.2 · 100% evidence Relative strength 12.0/20 · Lead over its industry -6.8% · Lead over NIFTY 500 15.8% · 1 year -11.3% · 100% evidence · 9 of 12 weeks ahead Exact sum: 16.5 + 13.4 + 8.2 + 12 = 50.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Jagsonpal Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/jagsonpal-pharmaceuticals-ltd) JAGSNPHARM · breaking out · Evidence leans down · 100% evidence 46.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.6/35 · Revenue 6% · Profit -27% · Operating margin change -1 points · 100% evidence Capital efficiency 19.1/25 · ROCE 22.7% · Operating margin 21% · 100% evidence Valuation 6.4/20 · P/E 30.2× · PEG 3.39 · 100% evidence Relative strength 6.4/20 · Lead over its industry -10.7% · Lead over NIFTY 500 9.9% · 1 year -2.7% · 100% evidence · 7 of 12 weeks ahead Exact sum: 14.6 + 19.1 + 6.4 + 6.4 = 46.5 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 10. [Aarti Pharmalabs Ltd](https://www.sectoralpha.in/stocks/aarti-pharmalabs-ltd) AARTIPHARM · breaking out · Evidence leans down · 85% evidence 44.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.8/35 · Revenue 13.4% · Profit 6.7% · Operating margin change 4 points · 100% evidence Capital efficiency 12.4/25 · ROCE 10.7% · Operating margin 22% · 100% evidence Valuation 2.9/20 · P/E 30.4× · PEG 5.52 · 100% evidence Relative strength 11.8/20 · Lead over its industry n/a · Lead over NIFTY 500 22.9% · 1 year 2.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 17.8 + 12.4 + 2.9 + 11.8 = 44.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Fermenta Biotech Ltd](https://www.sectoralpha.in/stocks/fermenta-biotech-ltd) FERMENTA · losing its lead · Evidence leans down · 64% evidence 42.8 out of 100 Growth Capital Valuation Relative
12. [Kopran Ltd](https://www.sectoralpha.in/stocks/kopran-ltd) KOPRAN · breaking out · Evidence leans down · 81% evidence 41.5 out of 100 Growth Capital Valuation Relative
13. [Orchid Pharma Ltd](https://www.sectoralpha.in/stocks/orchid-pharma-ltd) ORCHPHARMA · losing its lead · Evidence leans down · 66% evidence 37.8 out of 100 Growth Capital Valuation Relative
14. [Themis Medicare Ltd](https://www.sectoralpha.in/stocks/themis-medicare-ltd) THEMISMED · quiet · Most evidence points down · 71% evidence 30.1 out of 100 Growth Capital Valuation Relative

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](https://www.sectoralpha.in/sectors/pharma-api), all 14 compared on one page. ## Which companies are close to Innova Captab in size? 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](https://www.sectoralpha.in/stocks/aarti-pharmalabs-ltd) ₹7,914 crore
2. Innova Captab Ltd ₹5,867 crore
3. [Senores Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/senores-pharmaceuticals-ltd) ₹5,222 crore
4. [Orchid Pharma Ltd](https://www.sectoralpha.in/stocks/orchid-pharma-ltd) ₹5,009 crore
5. [Gujarat Themis Biosyn Ltd](https://www.sectoralpha.in/stocks/gujarat-themis-biosyn-ltd) ₹4,727 crore
6. [Aarti Drugs Ltd](https://www.sectoralpha.in/stocks/aarti-drugs-ltd) ₹3,972 crore
7. [Ind-Swift Laboratories Ltd](https://www.sectoralpha.in/stocks/ind-swift-laboratories-ltd) ₹3,202 crore

[All 14 Pharma - API companies, largest first](https://www.sectoralpha.in/sectors/pharma-api#all-companies)

### Companies close in size in other industries

1. [Indian Metals & Ferro Alloys Ltd](https://www.sectoralpha.in/stocks/indian-metals-ferro-alloys-ltd) ₹5,887 crore · Mining/Minerals
2. [V-Mart Retail Ltd](https://www.sectoralpha.in/stocks/v-mart-retail-ltd) ₹5,885 crore · Textiles - Readymade Apparel
3. Innova Captab Ltd ₹5,867 crore
4. [Technocraft Industries (India) Ltd](https://www.sectoralpha.in/stocks/technocraft-industries-indialtd) ₹5,858 crore · Scaffolding
5. [Electronics Mart India Ltd](https://www.sectoralpha.in/stocks/electronics-mart-india-ltd) ₹5,838 crore · Retail - Electronics

## What else do people ask about Innova Captab? ### What is Innova Captab's share price today? Innova Captab Ltd's share price is ₹1,003.30, +20.7% over the past year. The whole company is worth ₹5,743 Cr on the market. In the last 52 weeks it traded between ₹668 to ₹1,283; today it is 55% of the way up from the low, 5.1% above its 200-day average (as of 3 November 2026). ### What were Innova Captab's latest quarterly results? Innova Captab Ltd reported revenue of ₹471 Cr and net profit of ₹44.0 Cr for the Jun 2026 quarter. Revenue rose 33.8% and profit rose 41.9% compared with a year earlier. Earnings per share were ₹7.71. The operating margin was 16.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Innova Captab's market cap? Innova Captab Ltd's market capitalisation is ₹5,743 Cr at a share price of ₹1,003.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Innova Captab performing? Innova Captab Ltd's share price has been rising for 23 weeks. In its latest quarter, revenue rose 33.8% and profit rose 41.9% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 14 weeks running (as of 3 November 2026). ### Will Innova Captab's share price go up? This page does not forecast Innova Captab Ltd's share price. What it shows instead: the share price is ₹1,003.30, and it has been rising for 23 weeks. Its P/E of 37.3× is higher than 32% of its own last 3 years (as of 3 November 2026). ### Where is Innova Captab in its business cycle? Innova Captab Ltd's FY26 operating margin was 15.0%, against a 8-year range of 11.0% to 15.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 16.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Innova Captab story? Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Innova Captab a stock worth studying right now? What the numbers show: Innova Captab Ltd's results are improving, while its P/E is near the low end of its own history over 2.8 years, higher than only 32% of past readings. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Innova Captab share price forecast for 2026? What management itself guided: FY27 revenue growth of 20% with profitability outpacing revenue. 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. What would change the story: 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. ### Where does this page get Innova Captab's management information? From Innova Captab's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

This is research, not advice. We’re not SEBI-registered.