IOL Chemicals & Pharmaceuticals Ltd
IOLCPIOL Chemicals & Pharmaceuticals Ltd's price has outrun its earnings. +67.9% in a year against EPS +36.3% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +67.9% in a year while annual EPS moved +36.3% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (18 weeks in) while the P/E sits at the 98th percentile of its own 4-year range. Underneath, the last four quarters read improving — profit +88.2% year on year, and 183% 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.
IOL Chemicals & Pharmaceuticals Ltd trades at ₹194, in a confirmed uptrend and 18 weeks into that stage. That is +53.0% against its own 200-day average. It sits at 96% of a 52-week range of ₹69 to ₹200. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 29 straight weeks.
Today the stock is in a confirmed uptrend — week 18 of stage 2, confirmed. At ₹194 it trades +53.0% versus its 200-day average and sits at 96% of its 52-week range (₹69–₹200).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +1,288% 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 29 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
IOL Chemicals & Pharmaceuticals Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: EARLY_EXPANSION. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. IOL Chemicals is transitioning from an ibuprofen commodity producer into a diversified API platform, driving 37.0% revenue expansion and operating margin recovery to 14%, though trailing valuation at the 93rd percentile leaves zero cushion for execution delays.
From the numbers. IOLCP operates in an early operating cycle expansion with trailing 12-month revenue growth of 18.5% and PAT growth of 60.0%. However, trailing PE at 28.2x sits in the 93rd percentile and normalized PE at 25.3x sits in…
From the price. Price stage 2, week 18 — above its 200-day line, relative strength rising.
From the research. IOL Chemicals is transitioning from an ibuprofen commodity producer into a diversified API platform, driving 37.0% revenue expansion and operating margin recovery to 14%, though trailing valuation at the 93rd percentile…
🚨 Where they disagree. IOLCP operates in an early operating cycle expansion with trailing 12-month revenue growth of 18.5% and PAT growth of 60.0%. However, trailing PE at 28.2x sits in the 93rd percentile and normalized PE at 25.3x sits in the 82nd percentile, reflecting a full re-rating ahead of earnings execution. Margins at 13.7% are in line with the 13.4% mid-cycle norm (55th percentile), indicating that the multiple is not artificially inflated by cyclically depressed margins. Future performance depends on volume delivery to grow earnings into the current valuation.
What is proven. IOL Chemicals is transitioning from an ibuprofen commodity producer into a diversified API platform, driving 37.0% revenue expansion and operating margin recovery to 14%, though trailing valuation at the 93rd percentile leaves zero cushion for execution delays.
What is not proven yet. Paracetamol capacity utilization failing to reach 65% by Q4 FY27 combined with non-ibuprofen API share stagnating below 40% of pharma revenue, indicating pricing erosion and lack of market penetration in regulated export markets.
🚨 What would change our mind. Paracetamol capacity utilization failing to reach 65% by Q4 FY27 combined with non-ibuprofen API share stagnating below 40% of pharma revenue, indicating pricing erosion and lack of market penetration in regulated export markets.
Layer 1 read, 22 August 2026 — KEEP. Its tripled paracetamol plant is only 55% full — filling it doubled profit, but the shares have never been dearer. IOL expanded its paracetamol plant from 3,600 to 10,800 tonnes a year in March 2025 and is still running it at just 55%. Because the factory's fixed costs are already being paid whether it runs or not, each extra tonne drops almost straight through — which is how revenue up 37% turned into profit up 88% last quarter. Alongside that, products other than ibuprofen grew 67% and now make up 43% of pharma sales, reducing the old one-molecule dependence. The catch is price and cash: at 28.2 times earnings this is the most expensive the stock has been in ten years, and five years of factory building has swallowed 111% of five years of operating cash with another Rs 1,200-1,400 crore planned.
What would change Layer 1’s mind. Paracetamol utilisation staying flat near 55% in the Sep 2026 quarter — that is the exact metric the plant thesis rests on, and management has already missed one utilisation target (55% delivered against 65% guided). Combined with the non-ibuprofen share stalling below 40% of pharma revenue it would say the ramp is demand-constrained rather than time-constrained, which at a 97th-percentile multiple is a de-rating, not a pause. A second, separate trigger: the ethyl acetate spread falling below…
Layer 2 read, 22 August 2026 — BENCH. BENCH: IOLCP's earnings engine works, but sector capacity is rising faster than entry safety. The company-level case is real: non-ibuprofen APIs are 43% of pharma revenue and grew 67%, while the paracetamol plant is only 55% utilized. The external stress test finds the opposite entry signal: sector capital spending rose 28.02% and CWIP 19.7%, producing SUPPLY_FLOOD plus CAPACITY_RISK, while IOLCP trades at a 93rd-percentile PE. That combination supports BENCH rather than DROP because the sector warning has not yet appeared as falling IOLCP utilization, revenue or margins.
What would change Layer 2’s mind. Move BENCH to ADVANCE if the next Pharma - API & CRAMS capital-flow print changes capex_read from SUPPLY_FLOOD to NEUTRAL or SUPPLY_WITHDRAWAL without a rise in capacity mentions.
The test written in advance. Paracetamol capacity utilization failing to reach 65% by Q4 FY27 combined with non-ibuprofen API share stagnating below 40% of pharma revenue, indicating pricing erosion and lack of market penetration in regulated export markets. — the thesis as written as stated by the next result.
The test written in advance. Multiple De-rating on Execution Hiccups — Multiple De-rating on Execution Hiccups Quarterly revenue YoY growth dropping below 15% or EBITDA margin slipping below 13.0%. by the next result.
The test written in advance. Paracetamol Utilization Stalling Below Guidance — Paracetamol Utilization Stalling Below Guidance Q2 FY27 concall commentary indicating paracetamol utilization remaining flat near 55%. by the next result.
What the company does. Revenue growth accelerated to 37.0% YoY in Q1 FY27 as non-ibuprofen APIs scaled to 43% of pharma revenue and paracetamol capacity expanded to 10,800 MTPA. Operating cash flow conversion of 1.83x PAT over 3 years fully finances ongoing growth capex without balance sheet leverage. Trailing PE at 28.2x (93rd percentile) and normalized PE at 25.3x reflect a full re-rating, requiring sustained 15-20% top-line delivery to generate equity returns.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Paracetamol Capacity Utilization Ramp | in play | — | Expanding 10,800 MTPA paracetamol utilization from 55% to 70-75% in FY27 creates an operating leverage catapult. | Paracetamol export realizations decline below domestic parity or merchant buyers shift volume to Chinese competitors. |
| Non-Ibuprofen Portfolio Value Migration | in play | — | Shifting API revenue mix from ibuprofen commodity concentration toward 50-50 diversification enhances margin stability. | Price competition in generic metformin or pantoprazole erodes gross margins below blended company levels. |
| Chemical Segment Integration and Triacetin… | in play | — | Captive acetic anhydride integration and new 6,000 MTPA triacetin capacity provide downstream revenue and margin support. | Ethyl acetate price spreads compress below $110 per ton from the current $150-160 per ton range. |
| Regulated Market Export Share Expansion | in play | — | Increasing export revenue contribution from 28.5% toward 30% improves pricing realizations and cash flow terms. | Regulatory delays in customer ANDA approvals stall European and US volume off-take. |
🚨 What the surface reading misses. The surface reading is: Trailing PE of 28.2x sits in the 93rd percentile of 10-year trading history, signalling rich valuation. The research reads it further: Unlike cyclical trough multiples where high PE masks cyclically depressed margins, current OPM of 13.7% is at mid-cycle (55th percentile vs 13.4% normalized). The multiple expansion reflects market anticipation of non-ibuprofen portfolio scale and operating leverage rather than an optical earnings trough.
🚨 What the surface reading misses. The surface reading is: Normalizing margins across historical cycles would reveal hidden value relative to trailing headline numbers. The research reads it further: Normalized OPM of 13.4% yields a normalized EPS of ₹6.71 and a normalized PE of 25.3x (82nd percentile). Because current margins (13.7%) are already near normalized levels, margin normalization provides only an 11 percentile point multiple compression (93rd to 82nd percentile).
Lever 1 · Operating leverage — BUILDING. Expanding 10,800 MTPA paracetamol utilization from 55% to 70-75% in FY27 creates an operating leverage catapult. What proves it keeps working: Paracetamol Capacity Utilization Ramp. It stops working if Paracetamol export realizations decline below domestic parity or merchant buyers shift volume to Chinese competitors.
Lever 2 · Value-added mix — BUILDING. Shifting API revenue mix from ibuprofen commodity concentration toward 50-50 diversification enhances margin stability. What proves it keeps working: Non-Ibuprofen Portfolio Value Migration. It stops working if Price competition in generic metformin or pantoprazole erodes gross margins below blended company levels.
Lever 10 · New geographies — BUILDING. Increasing export revenue contribution from 28.5% toward 30% improves pricing realizations and cash flow terms. What proves it keeps working: Regulated Market Export Share Expansion. It stops working if Regulatory delays in customer ANDA approvals stall European and US volume off-take.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. 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.
IOL Chemicals & Pharmaceuticals Ltd reported ₹756 Cr of revenue in the Jun 26 quarter, +37.0% year on year. That is the 7th straight quarter of year-on-year growth. Over 4 years it has compounded at 1.5% a year. The last full year, FY26, came in at ₹2,319 Cr. The last four reported quarters add to ₹2,523 Cr.
FY26 revenue came in at ₹2,319 Cr (+11.5% on the year), capping 4 years at 1.5% compound. The latest quarter (Jun 26) printed ₹756 Cr, +37.0% year on year — the 7th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +18.3% growth against the decade's 1.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +18.5% over the last 4 quarters against +10.4%/yr over the last 8 — accelerating; TTM profit +60.0% vs +18.8%/yr — accelerating.
FY26-Q4. revenue ₹619 Cr and profit ₹53 Cr as reported.
FY27-Q1. revenue ₹756 Cr and profit ₹64 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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.
IOL Chemicals & Pharmaceuticals Ltd's operating margin is 14.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 5 fiscal years the operating margin has ranged 10.0% to 12.0%.
Why this happened. Non-ibuprofen APIs (paracetamol, metformin, clopidogrel, pantoprazole, minoxidil, levetiracetam, fenofibrate) increased from 36% of pharma revenue in Q1 FY26 to 43% in Q1 FY27, growing 67% YoY. Management targets reaching a 50-50 split in the medium term and 75% non-ibuprofen over 5 years. Expanding regulated market access via European CEPs and the recent China NMPA approval for clopidogrel provides higher realization per kilogram compared to domestic sales.
The latest quarter's operating margin is 14.0%, +3.0 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 10.0%–12.0%, and FY26's 12.0% is the top of that band — a record year.
Why the margin moved: operating margin went +2.4 pp year on year while gross margin went +2.8 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
FY26-Q4. revenue ₹619 Cr and profit ₹53 Cr as reported.
FY27-Q1. revenue ₹756 Cr and profit ₹64 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
IOL Chemicals & Pharmaceuticals Ltd earned ₹64.0 Cr of net profit in the Jun 26 quarter, +88.2% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹138 Cr. The 4-year compound rate is −4.8%. That is 8.5% of the quarter's revenue. The same quarter a year earlier earned ₹34.0 Cr.
Jun 26 profit was ₹64.0 Cr, +88.2% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹138 Cr (+36.6%), and the 4-year compound rate is −4.8%.
Why profit moved: revenue contributed +37.0% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +54.3% vs revenue +18.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹619 Cr and profit ₹53 Cr as reported.
FY27-Q1. revenue ₹756 Cr and profit ₹64 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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 183% of IOL Chemicals & Pharmaceuticals Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹214 Cr of operating cash against ₹138 Cr of profit. After ₹165 Cr of capital spending, ₹49.0 Cr was left as free cash.
Why this happened. Exports expanded from 24.4% of revenue in Q1 FY26 to 28.5% in Q1 FY27, with management targeting 25-30% for FY27. Regulated export sales to Europe and MENA command premium realizations over domestic formulations. With all products holding CEP approvals and five holding USFDA approvals, customer ANDA commercialization provides multi-year demand visibility.
FY26: operating cash of ₹214 Cr against reported profit of ₹138 Cr, leaving free cash of ₹49.0 Cr after ₹165 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 183% 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 183%: the cash cycle tightened 11 days between FY22 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 3.0× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
IOL Chemicals & Pharmaceuticals Ltd's cash conversion cycle runs 68 days in FY26, down from 79 days in FY22. Capital spending ran ₹651 Cr over the last 3 years. At FY26 sales of ₹2,319 Cr each day of that cycle holds about ₹6.4 Cr, so roughly ₹432 Cr sits inside the business at any moment.
FY26: debtors at 95 days, inventory at 91 days — roughly 3.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 68 days, tighter than FY22's 79.
The full loop: cash goes out to suppliers and production on day 0; stock waits 91 days to sell; customers pay about 95 days after that; and suppliers themselves are paid at 118 days — netting out to the 68-day cycle.
In money terms: at FY26 sales of ₹2,319 Cr, each day of the cycle holds about ₹6.4 Cr — so the 68-day loop keeps roughly ₹432 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹651 Cr over the last 3 fiscal years against ₹215 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹96.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
IOL Chemicals & Pharmaceuticals Ltd earns a ROCE of 11% in FY26. That is up from a trough of 9% in FY25. Return on invested capital clears the cost of that capital by −2.1 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 6.0% net margin on 0.90× asset turns.
FY26 ROCE is 11%, recovered from a FY25 trough of 9% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 6.0% net margin × 0.90× asset turns × 1.44× balance-sheet leverage ≈ 7.8% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 9.9% − 12.0% = a −2.1 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.
IOL Chemicals & Pharmaceuticals Ltd carries total debt of ₹135 Cr against shareholder equity of ₹1,799 Cr as of Mar 26, a debt-to-equity of 0.08 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.08 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Why this happened. The fully automated paracetamol facility expanded capacity from 3,600 MTPA to 10,800 MTPA in March 2025. Currently operating at 55% utilization, management targets 70-75% utilization by the end of FY27 and 100% by FY28. Because fixed manufacturing and overhead costs are already in place, incremental volume generates disproportionate operating leverage, supporting overall EBITDA margin expansion toward the guided 14-15% range.
Mar 26: total debt of ₹135 Cr against shareholder equity of ₹1,799 Cr — a debt-to-equity of 0.08. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.08 (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 14.1 points of IOL Chemicals & Pharmaceuticals Ltd over 8 quarters, the biggest move on the register. That takes promoters to 62.3% of the company. Foreign institutions moved +3.5 points over the same window, to 4.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +14.1 points over 8 quarters to 62.3%; Foreign institutions: +3.5 points over 8 quarters to 4.9%; Domestic institutions: +0.3 points over 8 quarters to 0.4%.
Why the register moved: promoters drove it (+14.1 points), alongside foreign institutions (+3.5 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.
IOL Chemicals & Pharmaceuticals 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.
IOL Chemicals & Pharmaceuticals Ltd trades at 32.3× P/E, about the priciest it has ever traded. Its long-run median P/E is 18.6×, measured across 4.3 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 32.3× is about the priciest it has ever traded, against a long-run median of 18.6× measured over 4.3 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 +36.3% against a +67.9% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 3y, of the +26.1%/yr price move, ~+5.5%/yr came from earnings growth and ~+20.6 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.
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 26 August 2026 price, IOL Chemicals & Pharmaceuticals Ltd was paying for profit growth of about 19.0% a year. Profit itself has compounded −4.8% a year over the past 4 years. Today the market pays 32.3× P/E, the 98th percentile of its own 4-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 above what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 26 August 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: Improving 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).
IOL Chemicals & Pharmaceuticals Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 6 quarters ago at −42.2% and has held its recovery at +60.0%, ROCE holding at 10.8%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.5% | +1.5% | — | — |
| Profit | +36.6% | −0.2% | — | — |
| EPS | +36.3% | −0.4% | — | — |
| Share price | +67.9% | +26.1% | +12.0% | +20.8% |
4-Factor Sector Score
73.0/100 — rank 3 of 24 in Pharma - API & CRAMS · 100% evidence confidence
IOL Chemicals & Pharmaceuticals Ltd scores 73.0 out of 100 against the 24 companies it is compared with in Pharma - API & CRAMS, ranking 3. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 28.5 + 12.5 + 13.8 + 18.2 = 73. 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.
Said versus delivered
What IOL Chemicals & Pharmaceuticals Ltd's management promised, set against what actually arrived — 4 tracked 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.
FY27 Revenue Guidance Raised Without Reconciliation · 13 August 2026. In Feb 2026, management guided to minimum FY27 top-line growth of 10%-15%, while in May 2026 it described approximately 15% growth or mid-teen growth. In Aug 2026, the CFO raised the stated range to 15%-20%, increasing the lower bound versus February and the upper bound versus May without explaining what changed beyond the strong Q1 performance.
🚨 Greenfield Project Start Slipped · 13 August 2026. In Feb 2026, management expected to secure most approvals and start work on the new land within three to four months. By Aug 2026, management said the project would probably not happen in the current financial year and tied the start of work to obtaining a clear R&D proof of concept, indicating a material delay without a specific explanation for the slippage.
🚨 Paracetamol Capacity Utilization Regression · 22 May 2026. In the Nov 2025 call, management explicitly guided that paracetamol capacity utilization would ramp up to 65% by March 2026, and later stated in the Feb 2026 call that it was running at 60%. However, in the May 2026 call, management contradicted this established upward trajectory by reporting only 55% utilization for the enhanced plant, without providing any explanation for missing the previous year-end target or the sequential drop in utilization for what is described as a key growth driver.
🚨 EBITDA Margin Guidance Miss · 12 February 2026. In the November 2025 call, management explicitly kept expectations alive for H2 margins to reach 13-14%, dismissing Q2 headwinds as temporary. However, in the February 2026 call, they reported Q3 margins of only 10.7% and lowered Q4 expectations to roughly 11-12%, effectively failing to meet the H2 recovery guidance. Earlier call (Nov 2025): “We expect to achieve EBITDA level of something around 13% to 14%... We are keeping that expectations alive for the next or the remaining H2.” Later call (Feb 2026): “We were not able to achieve those targets because of an unexpected rise in fuel costs... We hope to increase the EBITDA margin by 1-2% in the coming quarter.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Neuland Laboratories LtdNEULANDLAB | 81.2/100Sector-leading setup100% evidence | LEADER | 33.6/35 Revenue 78.3% · PAT 100% · OPM change 23 pp 100% evidence | 19.9/25 ROCE 26.5% · OPM 35% 100% evidence | 12.0/20 P/E 60.7× · PEG 1.05 100% evidence | 15.7/20 RS sector 7.5% · RS bench 44.6% · 1Y 62.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 33.6 + 19.9 + 12 + 15.7 = 81.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Acutaas Chemicals LtdACUTAAS | 77.3/100Favorable setup76% evidence | 31.9/35 Revenue 41% · PAT 100% · OPM change 9 pp 95% evidence | 20.1/25 ROCE 31.6% · OPM 34% 76% evidence | 9.3/20 P/E 71.7× · PEG — 50% evidence | 16.0/20 RS sector 86.5% · RS bench 43.7% · 1Y 129.5%5 of 8 weeks ahead 70% evidence | |
| Exact sum: 31.9 + 20.1 + 9.3 + 16 = 77.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3IOL Chemicals & Pharmaceuticals Ltdthis pageIOLCP | 73.0/100Favorable setup100% evidence | LEADER | 28.5/35 Revenue 18.5% · PAT 60% · OPM change 3 pp 100% evidence | 12.5/25 ROCE 11.3% · OPM 14% 100% evidence | 13.8/20 P/E 32.3× · PEG 0.66 100% evidence | 18.2/20 RS sector 37.2% · RS bench 81.2% · 1Y 100.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.5 + 12.5 + 13.8 + 18.2 = 73 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Laurus Labs LtdLAURUSLABS | 71.2/100Favorable setup93% evidence | LEADER | 32.2/35 Revenue 22.6% · PAT 100% · OPM change 8 pp 100% evidence | 18.2/25 ROCE 17.8% · OPM 32% 100% evidence | 5.3/20 P/E 97.3× · PEG 3.33 65% evidence | 15.5/20 RS sector 22.2% · RS bench 63.4% · 1Y 123.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32.2 + 18.2 + 5.3 + 15.5 = 71.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 5Gland Pharma LtdGLAND | 69.7/100Favorable setup100% evidence | LEADER | 26.4/35 Revenue 17.6% · PAT 46.4% · OPM change 3 pp 100% evidence | 13.9/25 ROCE 15.1% · OPM 27% 100% evidence | 14.2/20 P/E 42.1× · PEG 1.45 100% evidence | 15.2/20 RS sector 8.2% · RS bench 45.5% · 1Y 54.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.4 + 13.9 + 14.2 + 15.2 = 69.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Divis Laboratories LtdDIVISLAB | 65.4/100Favorable setup100% evidence | LEADER | 26.5/35 Revenue 16.4% · PAT 26.8% · OPM change 11 pp 100% evidence | 19.1/25 ROCE 22% · OPM 41% 100% evidence | 3.5/20 P/E 83.1× · PEG 3.45 100% evidence | 16.3/20 RS sector 3.2% · RS bench 39.9% · 1Y 55.1%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.5 + 19.1 + 3.5 + 16.3 = 65.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 7Shilpa Medicare LtdSHILPAMED | 63.1/100Mixed-positive evidence100% evidence | LEADER | 27.6/35 Revenue 28% · PAT 100% · OPM change 1 pp 100% evidence | 10.3/25 ROCE 10.9% · OPM 29% 100% evidence | 5.6/20 P/E 66.1× · PEG 6.86 100% evidence | 19.6/20 RS sector 60.8% · RS bench 111.5% · 1Y 127.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.6 + 10.3 + 5.6 + 19.6 = 63.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Sai Life Sciences LtdSAILIFE | 62.9/100Mixed-positive evidence93% evidence | LEADER | 27.2/35 Revenue 17.6% · PAT 48% · OPM change 3 pp 100% evidence | 16.6/25 ROCE 19.6% · OPM 27% 100% evidence | 4.9/20 P/E 91.6× · PEG 3.46 65% evidence | 14.2/20 RS sector 12.7% · RS bench 51.7% · 1Y 84.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.2 + 16.6 + 4.9 + 14.2 = 62.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 9Granules India LtdGRANULES | 62.4/100Mixed-positive evidence100% evidence | LEADER | 26.4/35 Revenue 24.8% · PAT 38.1% · OPM change 3 pp 100% evidence | 15.8/25 ROCE 15.5% · OPM 23% 100% evidence | 10.4/20 P/E 34.7× · PEG 1.27 100% evidence | 9.8/20 RS sector 1.7% · RS bench 37.1% · 1Y 77.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.4 + 15.8 + 10.4 + 9.8 = 62.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Windlas Biotech LtdWINDLAS | 53.5/100Mixed-positive evidence77% evidence | BREAKING OUT | 16.7/35 Revenue 18.8% · PAT 9.8% · OPM change -2 pp 83% evidence | 14.5/25 ROCE 15.9% · OPM 11% 95% evidence | 11.5/20 P/E 35.1× · PEG — 50% evidence | 10.8/20 RS sector -1.8% · RS bench 34.7% · 1Y 13.7%5 of 10 weeks ahead 70% evidence |
| Exact sum: 16.7 + 14.5 + 11.5 + 10.8 = 53.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Anthem Biosciences LtdANTHEM | 53.0/100Mixed-positive evidence77% evidence | BREAKING OUT | 12.7/35 Revenue -2.1% · PAT 14.1% · OPM change 1 pp 100% evidence | 22.0/25 ROCE 30.4% · OPM 36% 100% evidence | 9.2/20 P/E 89.3× · PEG — 15% evidence | 9.1/20 RS sector -4.6% · RS bench 29.4% · 1Y 13.4%7 of 12 weeks ahead 70% evidence |
| Exact sum: 12.7 + 22 + 9.2 + 9.1 = 53 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12SMS Pharmaceuticals LtdSMSPHARMA | 48.7/100Mixed-negative evidence100% evidence | TURNING | 19.1/35 Revenue 10.2% · PAT 41.7% · OPM change 0 pp 100% evidence | 11.3/25 ROCE 13.3% · OPM 20% 100% evidence | 10.3/20 P/E 42.4× · PEG 1.53 100% evidence | 8.0/20 RS sector -2.8% · RS bench 32.7% · 1Y 96.2%2 of 12 weeks ahead 100% evidence |
| Exact sum: 19.1 + 11.3 + 10.3 + 8 = 48.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Morepen Laboratories LtdMOREPENLAB | 48.5/100Mixed-negative evidence94% evidence | BREAKING OUT | 20.3/35 Revenue 9.5% · PAT 51.6% · OPM change 8 pp 100% evidence | 8.5/25 ROCE 8.1% · OPM 14% 100% evidence | 9.7/20 P/E 54× · PEG 1.68 100% evidence | 10.0/20 RS sector -16.2% · RS bench 130.1% · 1Y 134.8%10 of 10 weeks ahead 70% evidence |
| Exact sum: 20.3 + 8.5 + 9.7 + 10 = 48.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Blue Jet Healthcare LtdBLUEJET | 46.5/100Mixed-negative evidence94% evidence | BREAKING OUT | 5.8/35 Revenue -27.5% · PAT -34.6% · OPM change -1 pp 100% evidence | 21.0/25 ROCE 26.1% · OPM 33% 100% evidence | 13.8/20 P/E 45.8× · PEG 1.39 100% evidence | 5.9/20 RS sector -39.2% · RS bench 12% · 1Y -23.6%10 of 10 weeks ahead 70% evidence |
| Exact sum: 5.8 + 21 + 13.8 + 5.9 = 46.5 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 15Supriya Lifescience LtdSUPRIYA | 45.3/100Mixed-negative evidence100% evidence | FADING | 16.1/35 Revenue 28.2% · PAT 11.2% · OPM change -11 pp 100% evidence | 17.1/25 ROCE 25.2% · OPM 25% 100% evidence | 6.9/20 P/E 36.5× · PEG 3.11 100% evidence | 5.2/20 RS sector -11.2% · RS bench 20.4% · 1Y 38.4%8 of 12 weeks ahead 100% evidence |
| Exact sum: 16.1 + 17.1 + 6.9 + 5.2 = 45.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 16Concord Biotech LtdCONCORDBIO | 37.8/100Mixed-negative evidence94% evidence | BREAKING OUT | 9.2/35 Revenue -6.7% · PAT -23.3% · OPM change 2 pp 100% evidence | 14.9/25 ROCE 17.1% · OPM 32% 100% evidence | 6.7/20 P/E 56.7× · PEG 5.67 100% evidence | 7.0/20 RS sector -23.6% · RS bench 16.4% · 1Y -9.2%10 of 10 weeks ahead 70% evidence |
| Exact sum: 9.2 + 14.9 + 6.7 + 7 = 37.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Jubilant Pharmova LtdJUBLPHARMA | 37.6/100Mixed-negative evidence93% evidence | TURNING | 11.8/35 Revenue 16.3% · PAT -23% · OPM change -4 pp 100% evidence | 6.8/25 ROCE 9% · OPM 11% 100% evidence | 13.9/20 P/E 42.1× · PEG 1.17 65% evidence | 5.1/20 RS sector -23% · RS bench 5.6% · 1Y -4.2%4 of 12 weeks ahead 100% evidence |
| Exact sum: 11.8 + 6.8 + 13.9 + 5.1 = 37.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 18Piramal Pharma LtdPPLPHARMA | 35.2/100Mixed-negative evidence71% evidence | LEADER | 13.0/35 Revenue 0.8% · PAT -80% · OPM change 3 pp 74% evidence | 1.4/25 ROCE 2.5% · OPM 9% 100% evidence | 10.0/20 P/E — · PEG — 0% evidence | 10.8/20 RS sector -10.9% · RS bench 21.1% · 1Y 5.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 13 + 1.4 + 10 + 10.8 = 35.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Solara Active Pharma Sciences LtdSOLARA | 34.7/100Adverse evidence83% evidence | TURNING | 7.9/35 Revenue 15.6% · PAT -80% · OPM change -2 pp 100% evidence | 3.8/25 ROCE 4.9% · OPM 16% 100% evidence | 8.5/20 P/E 843× · PEG — 15% evidence | 14.5/20 RS sector 1.9% · RS bench 38.7% · 1Y 12.7%8 of 12 weeks ahead 100% evidence |
| Exact sum: 7.9 + 3.8 + 8.5 + 14.5 = 34.7 · Decision use: Price leads the evidence: RS versus the benchmark is 38.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 20Hikal LtdHIKAL | 33.0/100Adverse evidence81% evidence | BREAKING OUT | 11.6/35 Revenue -5.4% · PAT -80% · OPM change 2.6 pp 74% evidence | 4.3/25 ROCE 3.5% · OPM 9.2% 100% evidence | 7.4/20 P/E 65.4× · PEG — 50% evidence | 9.7/20 RS sector -21.7% · RS bench 6.9% · 1Y -14.2%8 of 12 weeks ahead 100% evidence |
| Exact sum: 11.6 + 4.3 + 7.4 + 9.7 = 33 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21OneSource Specialty Pharma LtdONESOURCE | 27.5/100Adverse evidence71% evidence | BASING | 11.3/35 Revenue 4.3% · PAT -80% · OPM change 0 pp 74% evidence | 3.3/25 ROCE 0.6% · OPM 27% 100% evidence | 10.0/20 P/E — · PEG — 0% evidence | 2.9/20 RS sector -27.3% · RS bench -0.8% · 1Y -15%3 of 12 weeks ahead 100% evidence |
| Exact sum: 11.3 + 3.3 + 10 + 2.9 = 27.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Syngene International LtdSYNGENE | 23.6/100Adverse evidence100% evidence | BASING | 6.7/35 Revenue -3.4% · PAT -56.4% · OPM change -11.3 pp 100% evidence | 8.6/25 ROCE 10% · OPM 12.3% 100% evidence | 8.1/20 P/E 52.2× · PEG 7.87 100% evidence | 0.2/20 RS sector -44.2% · RS bench -22.8% · 1Y -41%1 of 12 weeks ahead 100% evidence |
| Exact sum: 6.7 + 8.6 + 8.1 + 0.2 = 23.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Dishman Carbogen Amcis LtdDCAL | 22.1/100Adverse evidence87% evidence | ASLEEP | 7.0/35 Revenue 0.2% · PAT -80% · OPM change -11 pp 100% evidence | 4.8/25 ROCE 3.1% · OPM 9% 100% evidence | 6.4/20 P/E 145× · PEG 2.65 65% evidence | 3.9/20 RS sector -31% · RS bench -18.6% · 1Y -39.5%3 of 10 weeks ahead 70% evidence |
| Exact sum: 7 + 4.8 + 6.4 + 3.9 = 22.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Cohance Lifesciences LtdCOHANCE | 20.6/100Adverse evidence82% evidence | BREAKING OUT | 3.0/35 Revenue -19.8% · PAT -80% · OPM change -19.7 pp 95% evidence | 6.8/25 ROCE 5.8% · OPM 0.3% 76% evidence | 5.5/20 P/E 156× · PEG — 50% evidence | 5.3/20 RS sector -33.4% · RS bench -9.2% · 1Y -52.3%6 of 12 weeks ahead 100% evidence |
| Exact sum: 3 + 6.8 + 5.5 + 5.3 = 20.6 · 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 IOL Chemicals & Pharmaceuticals Ltd's share price today?
IOL Chemicals & Pharmaceuticals Ltd trades at ₹194, +67.9% over the past year. The company is valued at ₹5,704 Cr. The stock sits at 96% of its 52-week range of ₹69–₹200, +53.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 18 weeks in. — as of 11 September 2026.
What were IOL Chemicals & Pharmaceuticals Ltd's latest quarterly results?
IOL Chemicals & Pharmaceuticals Ltd reported revenue of ₹756 Cr and net profit of ₹64.0 Cr for the Jun 26 quarter. Revenue rose 37.0% and profit rose 88.2% year on year. Earnings per share were ₹2.19. The operating margin was 14.0%, 3.0 pp higher than a year earlier. — as of 11 September 2026.
What is IOL Chemicals & Pharmaceuticals Ltd's revenue?
IOL Chemicals & Pharmaceuticals Ltd reported revenue of ₹756 Cr in the Jun 26 quarter, +37.0% year on year. For the full FY26 fiscal year, revenue was ₹2,319 Cr (+11.5%). Over the last 4 years revenue compounded at 1.5% a year. — as of 11 September 2026.
What is IOL Chemicals & Pharmaceuticals Ltd's profit?
IOL Chemicals & Pharmaceuticals Ltd earned ₹64.0 Cr of net profit in the Jun 26 quarter, +88.2% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹138 Cr. The operating margin ran 14.0% in the latest quarter. — as of 11 September 2026.
What is IOL Chemicals & Pharmaceuticals Ltd's market cap?
IOL Chemicals & Pharmaceuticals Ltd's market capitalisation is ₹5,704 Cr at a share price of ₹194. 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 IOL Chemicals & Pharmaceuticals Ltd's P/E ratio?
IOL Chemicals & Pharmaceuticals Ltd trades at a P/E of 32.3×, at the 98th percentile of its own 4-year range, against a long-run median of 18.6×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does IOL Chemicals & Pharmaceuticals Ltd pay a dividend?
Yes — IOL Chemicals & Pharmaceuticals Ltd's dividend payout was 21% of profit in FY26, and it recorded a payout in each of its last 5 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is IOL Chemicals & Pharmaceuticals Ltd overvalued?
On its own history, IOL Chemicals & Pharmaceuticals Ltd looks expensive: its P/E of 32.3× sits at the 98th percentile of its 4-year range (long-run median 18.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.
Is IOL Chemicals & Pharmaceuticals Ltd growing?
Yes — IOL Chemicals & Pharmaceuticals Ltd is growing: latest-quarter revenue +37.0% year on year, profit +88.2%, and the margin +3.0 pp at 14.0%. The 4-year compound rates are 1.5% (revenue) and −4.8% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is IOL Chemicals & Pharmaceuticals Ltd performing?
IOL Chemicals & Pharmaceuticals Ltd is in a confirmed uptrend, 18 weeks in. Its latest quarter's revenue rose 37.0% and profit rose 88.2% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 29 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is IOL Chemicals & Pharmaceuticals Ltd in?
Improving — profit growth bottomed 6 quarters ago at −42.2% and has held its recovery at +60.0%, ROCE holding at 10.8%. The read comes from the last 12 quarters of growth (revenue growth +18.5% latest, profit growth +60.0% latest, eps growth +59.8% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is IOL Chemicals & Pharmaceuticals Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 18 of stage 2), trading +53.0% versus its 200-day average and at 96% 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 IOL Chemicals & Pharmaceuticals Ltd beating the market?
On recent form, yes — IOL Chemicals & Pharmaceuticals Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 29 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 +1,288% against the NIFTY 500's +267% — ahead of the index over the full window. — as of 11 September 2026.
Will IOL Chemicals & Pharmaceuticals Ltd's share price go up?
This page publishes no price forecast for IOL Chemicals & Pharmaceuticals Ltd. What it measures instead: the share price is ₹194, the price is in a confirmed uptrend 18 weeks in. Its P/E of 32.3× sits at the 98th percentile of its own 4-year range. — as of 11 September 2026.
Who owns IOL Chemicals & Pharmaceuticals Ltd?
Promoters hold 62.3% of IOL Chemicals & Pharmaceuticals Ltd, foreign institutions 4.9%, domestic institutions 0.4% and the public 32.4% (latest quarter). The biggest move on the register over the last two years: Promoters added 14.1 points over 8 quarters. — as of 11 September 2026.
Does IOL Chemicals & Pharmaceuticals Ltd have too much debt?
No — IOL Chemicals & Pharmaceuticals Ltd's debt-to-equity is 0.08, and operating profit covers the interest bill 18×. FY26 borrowings were ₹135 Cr against equity of ₹1,799 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is IOL Chemicals & Pharmaceuticals Ltd's capex?
IOL Chemicals & Pharmaceuticals Ltd spent ₹651 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 ₹165 Cr, with ₹96.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is IOL Chemicals & Pharmaceuticals Ltd's cash flow?
IOL Chemicals & Pharmaceuticals Ltd generated ₹214 Cr of operating cash flow in FY26 and ₹49.0 Cr of free cash flow after ₹165 Cr of capital spending. Reported profit that year was ₹138 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is IOL Chemicals & Pharmaceuticals Ltd's profit real cash?
Yes — over the last 3 fiscal years, 183% of IOL Chemicals & Pharmaceuticals Ltd's reported profit arrived as operating cash. Though the latest year ran at 155% — the trend is the thing to watch. In FY26, operating cash was ₹214 Cr against reported profit of ₹138 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is IOL Chemicals & Pharmaceuticals Ltd in its business cycle?
IOL Chemicals & Pharmaceuticals Ltd's FY26 operating margin was 12.0%, against a 5-year band of 10.0%–12.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does IOL Chemicals & Pharmaceuticals Ltd's price assume?
At its price on 26 August 2026, IOL Chemicals & Pharmaceuticals Ltd was priced for profit growth of about 19.0% a year. Profit itself has compounded −4.8% a year over the past 4 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 IOL Chemicals & Pharmaceuticals Ltd story?
The sharpest disagreement: the price moved +67.9% in a year while annual EPS moved +36.3% — 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 IOL Chemicals & Pharmaceuticals Ltd a stock worth studying right now?
This is not investment advice. The machine read: IOL Chemicals & Pharmaceuticals Ltd's price has outrun its earnings. +67.9% in a year against EPS +36.3% — 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 !!