# Jagsonpal Pharmaceuticals share price today (Jagsonpal Pharmaceuticals Ltd, NSE: JAGSNPHARM)

> Jagsonpal Pharmaceuticals share price today: ₹216.21 at the NSE close on 3 November 2026, down 3.0% in a year. Jagsonpal Pharmaceuticals (NSE: JAGSNPHARM) is worth ₹1,428 crore, trades at a P/E of 30.2 and has closed between ₹163.73 and ₹242.80 over the past 52 weeks. > Jagsonpal Pharmaceuticals Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. JAGSNPHARM · Pharma - API · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/jagsonpal-pharmaceuticals-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹216.21 (−3.0% in a year)
- P/E: 30.2× (lower than 57% of the last 11 years)
- Revenue (Sep 2026): ₹81.0 Cr (+9.5% on a year ago)
- Profit (Sep 2026): ₹13.0 Cr (+0.0% on a year ago)
- Operating margin: 21.0% (−1.0 points on a year ago)
- ROCE: 23%, FY26
- ROIC: 24.8%, against a 12.0% cost of capital: +12.8 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 Jagsonpal Pharmaceuticals share price today? Jagsonpal Pharmaceuticals Ltd's share price was ₹216.21 at the close on 3 November 2026. It has been rising for 20 weeks. That is 1.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹164 and ₹243, and at that close it sat 66% 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 40 weeks in a row. Over the last 11 years the share price moved +1,295% while the NIFTY 500 moved +251%, 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 Jagsonpal Pharmaceuticals this quarter? One change stood out: indian funds and insurers (DIIs) raised their stake for 6 quarters in a row. 1. Indian funds and insurers (DIIs) raised their stake for 6 quarters in a row From 0% to 1.6% of the company by the September 2026 quarter. ## What are Jagsonpal Pharmaceuticals' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Jagsonpal Pharmaceuticals reported revenue of ₹81.0 crore, up 9.5% from ₹74.0 crore a year earlier, and a profit of ₹13.0 crore, up 0.0% from ₹13.0 crore. ### Jagsonpal Pharmaceuticals results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹81.0 crore | ₹74.0 crore | +9.5% |
| Profit | ₹13.0 crore | ₹13.0 crore | 0.0% |
| Earnings per share | ₹1.91 | ₹1.89 | +1.1% |
| Operating margin | 21.0% | 22.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Jagsonpal Pharmaceuticals' management discussed these results on a call held on 29 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Jagsonpal Pharmaceuticals share price history? Jagsonpal Pharmaceuticals closed at ₹216.21 on 3 November 2026, down 3.0% from ₹222.84 a year earlier (31 October 2025) and up 204.3% over five years. Its highest weekly close since March 2016 was ₹304.48 on 29 November 2024. ### Jagsonpal Pharmaceuticals share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹211.70 | +2.1% |
| 1 month ago · 1 Oct 2026 | ₹231.55 | −6.6% |
| 6 months ago · 30 Apr 2026 | ₹210.37 | +2.8% |
| 1 year ago · 31 Oct 2025 | ₹222.84 | −3.0% |
| 3 years ago · 3 Nov 2023 | ₹163.46 | +32.3% |
| 5 years ago · 4 Nov 2021 | ₹71.06 | +204.3% |
| 10 years ago · 4 Nov 2016 | ₹15.62 | +1,284.2% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹15.50 | +1,294.9% |
| Highest weekly close since March 2016 · 29 Nov 2024 | ₹304.48 | −29.0% |
| Lowest weekly close since March 2016 · 3 Apr 2020 | ₹7.10 | +2,945.2% |
| 52-week high (weekly close) · 25 Sep 2026 | ₹242.80 | −11.0% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹163.73 | +32.1% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. 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. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Jagsonpal Pharmaceuticals? 3 Nov 2026: Jagsonpal Pharmaceuticals closed at ₹216.21, up 2.1% on the week and down 6.6% on the month. 29 Oct 2026: Jagsonpal Pharmaceuticals held its results call for July to September 2026. Management guided: Quarterly revenue to cross ₹100 crore in October to December 2026. ### Earlier

- Results for July to September 2026: Revenue up 9.5% and profit up 0.0% on a year earlier. - 4 Sep 2026: ex-date for a dividend of ₹4 a share. - Our read, 22 Aug 2026: Jagsonpal delivers cash conversion with a cash reserve of 170 crore rupees supporting capital returns. However, reported trailing EPS of 6.84 rupees is supported by peak operating margins of 20-21% compared with a 10-year normalized median of 9.8%. - 8 Jan 2025: Share split: face value cut from ₹5 to ₹2 a share (ex-date). ### Our read of the business

Jagsonpal delivers cash conversion with a cash reserve of 170 crore rupees supporting capital returns. However, reported trailing EPS of 6.84 rupees is supported by peak operating margins of 20-21% compared with a 10-year normalized median of 9.8%. April to June 2026: Revenue grew 7.9% on a year earlier to 82 crore rupees as operating margin expanded to 21% alongside Equitas acquisition closing. (Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does Jagsonpal Pharmaceuticals pay? Jagsonpal Pharmaceuticals paid ₹4 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.85% at the ₹216.21 close on 3 November 2026. The last was a dividend of ₹4 a share, ex-date 4 September 2026. ### Jagsonpal Pharmaceuticals dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 4 Sep 2026 | ₹4 | Dividend | same day |
| 12 Sep 2025 | ₹2.50 | Dividend | same day |
| 6 Sep 2024 | ₹5 | Dividend | same day |
| 21 Aug 2023 | ₹5 | Dividend | same day |
| 29 Oct 2021 | ₹4 | Interim | 1 Nov 2021 |
| 22 Sep 2021 | ₹1 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Jagsonpal Pharmaceuticals Ltd paid out 62% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years. One of those years shows a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Jagsonpal Pharmaceuticals management say on the latest results call? On the call for July to September 2026, held on 29 October 2026, Jagsonpal Pharmaceuticals' management guided: Quarterly revenue to cross ₹100 crore in October to December 2026. > “we are committed to this 500-crore vision, which we are sure to deliver with our current basket and without considering any further acquisitions in this 500-crore number”
> Amrut Medhekar, on the call for July to September 2026

### What management guided

- Q3 growth in excess of 1.5 times expected industry growth. - Consolidated operating margin above 22% in Q3, staying near that level except seasonally soft final quarter. - Revenue ₹500 crore by FY28 purely organic on current basket without further acquisitions. - Aequitas revenue ₹100 crore by FY28 reaffirmed with no change. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/989-29-Oct-2026.pdf). (From the call for July to September 2026, 29 October 2026.)

## What is the future of Jagsonpal Pharmaceuticals? What is changing in the business? What is changing at Jagsonpal Pharmaceuticals, from the latest results and calls: equitas institutional hospital expansion, core therapy premiumization and specialty mix and sales force productivity without headcount addition. - Equitas Institutional Hospital Expansion. Acquisition of 85% equity in Equitas opens access to 1,000 corporate hospitals with an FY28-29 revenue goal of 100 crore rupees. ⚠ estimate
- Sales Force Productivity Without Headcount Addition. Operational restructuring focused on lifting monthly revenue per representative above 2.5 lakh rupees with zero new field additions planned. ✓ fact
- Balance Sheet Cash Deployment and Capital Distribution. Cash reserves of 170 crore rupees and 1.14x cash conversion support shareholder payouts and bolt-on acquisitions. ✓ fact

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 April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Jagsonpal Pharmaceuticals story? What are the risks? Branded formulation revenue sustaining above 15% on a year earlier growth for three consecutive quarters with operating margins having above 20% on organic gross-margin expansion and monthly medical-representative productivity exceeding 2.5 lakh rupees. ### Each change stops working if

- Equitas Institutional Hospital Expansion: Hospital procurement committees demand steep price concessions that compress gross margins below viable contribution thresholds. - Core Therapy Premiumization and Specialty Mix: Volume contraction in mature legacy lines outpaces the revenue contribution from specialty brand additions. - Sales Force Productivity Without Headcount Addition: Field attrition increases above 30% or doctor coverage frequency falls during territory re-alignment. ### The main risks

- Hospital Procurement Price Erosion in Equitas: Institutional hospital customers negotiate aggressively, posing dilution risk to blended corporate margins. ⚠ estimate
- Management Guidance Credibility Deficit: History of downward guidance revisions and modifications to dividend terms introduces forecast execution discounts. ⚠ estimate
- Primary vs Secondary Sales Channel Divergence: Large gap between reported primary growth (9.0%) and secondary market data (18.9%) signals possible distributor inventory or timing distortion. ⚠ estimate
- Non-Operating Other Income Volatility: Periodic other-income items have historically distorted reported earnings comparisons. ⚠ estimate

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Jagsonpal Pharmaceuticals' next results? When Jagsonpal Pharmaceuticals reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Print at flagged quarterly hurdle with margin accretion promised for that period. - What to check (from the call)
- Print at flagged quarterly hurdle with margin accretion promised for that period. - Hospital value-added launch in flagged window translating to visible benefit the following quarter. - Wellness contribution split disclosure showing base versus expansion geography performance. - Representative productivity beyond internal threshold alongside branded prescription outperformance versus industry. ## Which stock lists is Jagsonpal Pharmaceuticals on? Jagsonpal Pharmaceuticals is on 2 of our India lists: Dividend stocks and Pharma stocks. - [Dividend stocks Regular dividend yield (%): 1.85](https://www.sectoralpha.in/dividend-stocks-india)
- [Pharma stocks Market value (₹ crore): 1428.5848951825628](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Jagsonpal Pharmaceuticals profitable? Jagsonpal Pharmaceuticals Ltd earned ₹13.0 Cr of net profit in the Sep 2026 quarter, +0.0% on the same quarter a year earlier. Full-year FY26 profit was ₹43.0 Cr. Over 10 years profit has grown 30.5% a year on average. That is 16.0% of the quarter's revenue. The same quarter a year earlier earned ₹13.0 Cr. For the full year, FY26 profit was ₹43.0 Cr (−21.8% on the year before). Why profit moved: revenue changed +9.5% 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 −4.7% and revenue +6.1%. Profit is growing slower than sales: rising costs are taking part of the growth. FY27-Q1. revenue ₹82 Cr and profit ₹13 Cr as reported. FY27-Q2. revenue ₹81 Cr and profit ₹13 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Jagsonpal Pharmaceuticals make, and is it growing? Jagsonpal Pharmaceuticals Ltd reported ₹81.0 Cr of revenue in the Sep 2026 quarter, +9.5% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 10 years it has grown 7.2% a year on average. The last full year, FY26, came in at ₹287 Cr. Why this happened. Management completed an internal recalibration of its 1,000-person sales force across four divisions, stabilizing attrition and introducing structured training and incentive programs. Under a zero-new-addition model, FY27 volume expansion is intended to flow through productivity improvements of existing representatives, aiming for per-capita productivity above 2.5 lakh rupees per month from previous sub-peer levels. The last four reported quarters add to ₹300 Cr. FY26 revenue was ₹287 Cr, +6.7% on the year before. Recent pace: the last four quarters grew +6.1% on average, against 7.2% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +6.0%, against +15.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −27.0%, against +38.4% a year (rolling over). FY27-Q1. revenue ₹82 Cr and profit ₹13 Cr as reported. FY27-Q2. revenue ₹81 Cr and profit ₹13 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Jagsonpal Pharmaceuticals keep? Jagsonpal Pharmaceuticals Ltd's operating margin was 21.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between −9.0% and 20.0%. The latest quarter is above every full year in that period. Why this happened. The company is transitioning its product basket away from low-margin acute drugs toward specialty semi-chronic therapies where new-brand monthly sales run rates have nearly doubled. Key franchises such as Mantain (MAT near 46 crore rupees) and Indocap provide pricing support as 92% of the portfolio sits outside price control. Why the margin moved: operating margin changed −1.5 percentage points on the year while gross margin changed +0.7 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. 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. FY27-Q1. revenue ₹82 Cr and profit ₹13 Cr as reported. FY27-Q2. revenue ₹81 Cr and profit ₹13 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Jagsonpal Pharmaceuticals' profit turning into cash? Over the last 3 years, 114% of Jagsonpal Pharmaceuticals Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹47.0 Cr of operating cash against ₹43.0 Cr of profit. After ₹0.0 Cr of spending on assets, ₹47.0 Cr was left over as free cash. Why this happened. The company reported 170 crore rupees in cash and liquid equivalents. Over the past four years, management said operating cash generation exceeded 250 crore rupees and was deployed toward acquisitions, dividends of over 40 crore rupees, and a 40 crore rupee share buyback. This liquidity provides self-funding capacity for bolt-on brand acquisitions, subject to acquisition valuation and integration discipline. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 114% of profit came in as cash: the cash cycle got 44 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 4.2× depreciation over three years. The next section checks what that spending is building. ## Where does Jagsonpal Pharmaceuticals' cash go? Jagsonpal Pharmaceuticals Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 33 days in FY26, down from 77 days in FY21. It spent ₹80.0 Cr on assets over the last 3 years. Customers take 22 days to pay, and stock sits for 51 days on average. Why this happened. Jagsonpal acquired 85% of Equitas Healthcare for 20.8 crore rupees, adding an ICU-focused branded injectable portfolio with FY26 revenue of 53 crore rupees. The acquisition provides almost 49 institutional representatives and relationships with 4,000 specialists across major hospital chains including Max, Manipal, Medanta, and Cloud9. Management goals scaling Equitas to 100 crore rupees revenue and upward of 10 crore rupees EBITDA within 30 months by cross-sales core brands like Indocap and Mantain. At FY26 sales of ₹287 Cr, each day of that cycle ties up about ₹0.8 Cr, so roughly ₹26.0 Cr is tied up in the business at any time. FY26: customers took 22 days to pay and stock sat for 51 days, about 1.7 months of sales sitting as stock, for a full cycle of 33 days, shorter than FY21's 77. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 51 days. Customers pay about 22 days after that. Suppliers are paid at 40 days. Together that makes the 33-day cycle. Spending on assets: ₹80.0 Cr over the last 3 years, against ₹19.0 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 ₹0.0 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 Jagsonpal Pharmaceuticals' P/E ratio, and how does it compare with its own history? Jagsonpal Pharmaceuticals Ltd's P/E is 30.2×, in the middle of its own history: higher than 43% of past readings. Its usual P/E (the middle reading) is 31.4×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹6.86. 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 −22.9% while the price moved −3.0%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +24.9% a year; about +14.3% a year came from earnings growth and about +10.6 percentage points from the multiple (the market paying more); over 10 years the price moved +30.1% a year; about +29.7% a year came from earnings growth and about +0.4 percentage points from the multiple (roughly no change). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Jagsonpal Pharmaceuticals share price assume? Worked out from its price on 26 August 2026, Jagsonpal Pharmaceuticals Ltd's share price assumed profit growth of about 19.3% a year. Over the past 10 years its profit actually grew 30.5% a year. Today its P/E is 30.2×, lower than 57% of its own last 11 years. This is a one-day reading, taken on 26 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 Jagsonpal Pharmaceuticals business getting better or worse? Jagsonpal Pharmaceuticals Ltd's business is giving mixed signals. Profit and EPS growth are shrinking while ROCE is steady at 23.4%, so growth and returns point different ways. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Jagsonpal Pharmaceuticals story, and has it been checked? Jagsonpal Pharmaceuticals Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID CONTRACTION. Our read, 22 August 2026. Specialty pharma formulator expanding into institutional hospitals via Equitas, but current 21% operating margins sit at an 86th-percentile historical peak that exposes trailing earnings to mean-reversion risk. What is proven. Specialty pharma formulator expanding into institutional hospitals via Equitas, but current 21% operating margins sit at an 86th-percentile historical peak that exposes trailing earnings to mean-reversion risk. What is not proven yet. Branded formulation revenue sustaining above 15% YoY growth for three consecutive quarters with operating margins having above 20% on organic gross-margin expansion and monthly medical-representative productivity exceeding 2.5 lakh rupees. What would change our mind. Branded formulation revenue sustaining above 15% YoY growth for three consecutive quarters with operating margins having above 20% on organic gross-margin expansion and monthly medical-representative productivity exceeding 2.5 lakh rupees. The test written in advance. Branded formulation revenue sustaining above 15% YoY growth for three consecutive quarters with operating margins having above 20% on organic gross-margin expansion and monthly medical-representative productivity exceeding 2.5 lakh rupees. Measured by: the thesis as written as stated by the next result. The test written in advance. Peak Margin Mean-Reversion Risk. Measured by: Peak Margin Mean-Reversion Risk Quarterly operating profit margin slipping below 18% in two consecutive quarters. by the next result. The test written in advance. Hospital Procurement Price Erosion in Equitas. Measured by: Hospital Procurement Price Erosion in Equitas Equitas EBITDA contribution remaining below 2 crore rupees after four quarters of integration. by the next result. What the company does. Jagsonpal delivers cash conversion with a cash reserve of 170 crore rupees supporting capital returns. However, reported trailing EPS of 6.84 rupees is supported by peak operating margins of 20-21% compared with a 10-year normalized median of 9.8%. What the surface reading misses. The research reads it further: Trailing EPS of 6.84 rupees is elevated by peak operating margins of 20-21% (86th percentile of history versus 9.8% median). What the surface reading misses. The surface reading is: ROCE of 22.7% and ROE of 17.3% indicate returns above the cost of capital. The research reads it further: Current returns should not be capitalized without adjusting for the at-peak 21% operating margin and cash-backed other income in the earnings base. Lever 2 · Value-added mix: building. Portfolio migration from acute commodity volume to higher-margin specialty and semi-chronic formulations in gynecology and dermatology. What proves it keeps working: Core Therapy Premiumization and Specialty Mix. It stops working if Volume contraction in mature legacy lines outpaces the revenue contribution from specialty brand additions. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Jagsonpal Pharmaceuticals management deliver what it promised? What Jagsonpal Pharmaceuticals 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. FY27 Organic Growth Below Prior 1.5x Goal · 29 October 2026. In Apr 2026 and Jul 2026, management presented 1.5x IPM growth as the FY27 trajectory, with the Apr call translating that objective to 12%-15% and the Jul call saying the company was on track. In Oct 2026, management reported H1 organic growth of 9.3% and acknowledged it was below expectations; although it forecast acceleration, it did not clarify whether the earlier 1.5x revenue growth objective remains intact or how the shortfall will be closed. Special Dividend Terms Changed · 30 July 2026. In April 2026, management described the recommended 200% dividend as including a 75% one-time special dividend. In July 2026, management described the same 200% dividend as including only a 25% special dividend, a material change to the shareholder return terms that was not explained. Previously Disclosed First-in-India Pipeline Denied · 30 July 2026. The January 2026 call explicitly discussed a breakthrough, first-in-India product opportunity and indicated that an announcement was expected by May or June. In July 2026, management said it had never mentioned such a pipeline, contradicting the earlier statement and leaving the status of that product opportunity unexplained. FY26 Revenue Guidance Miss Without Acknowledgment · 28 April 2026. In the Nov 2025 call, management explicitly planned approximately 10% revenue growth for FY26, with Manish Gupta stating 'I am talking of this year, with accelerated growth thereafter.' FY26 actual revenue growth came in at ~7%, a meaningful 3-percentage-point miss against this stated goal. The Apr 2026 call presents the 7% result without acknowledging the earlier 10% guidance or reconciling the shortfall, leaving shareholders without clarity on what drove the gap between the stated annual goal and actual delivery. Earlier call (Nov 2025): “we are targeting about 10% growth overall as an organization in the medium-term… I am talking of this year, with accelerated growth thereafter”. Later call (Apr 2026): “For FY26, while the revenue growth has been modest at around 7%, our net profit has grown at 19% before exceptional items.”

Every quote above is taken word for word from the company’s own earnings calls. ## How much does Jagsonpal Pharmaceuticals earn on its capital? Jagsonpal Pharmaceuticals Ltd earned a ROCE of 23% in FY26. That is up from a low of −10% in FY18. Its return on capital used (ROIC) is 12.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 15.0% net margin and 0.91× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 15.0% net margin × 0.91× asset turnover × 1.15× leverage (assets divided by equity) ≈ 15.7% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 24.8% − 12.0% = +12.8 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. A gap this wide means each rupee put back into the business creates more than a rupee of value. ## Does Jagsonpal Pharmaceuticals have too much debt? Jagsonpal Pharmaceuticals Ltd has total debt of ₹9.0 Cr against shareholder equity of ₹244 Cr as of Sep 2026, so its debt is 0.04× its equity, which is very little. Year by year, that ratio went from 0.04 in FY23 to 0.03 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Jagsonpal Pharmaceuticals shareholding pattern? Domestic institutions raised their stake in Jagsonpal Pharmaceuticals Ltd by 1.5 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 1.6% of the company. Promoters moved +0.8 points over the same period, to 68.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +1.5 points over 8 quarters, to 1.6%; Promoters: +0.8 points over 8 quarters, to 68.8%; Foreign institutions: −0.2 points over 8 quarters, to 2.1%. Why the owners changed: domestic institutions drove it (+1.5 points), together with promoters (+0.8 points). They raised their stake step by step. ## How far is Jagsonpal Pharmaceuticals from balance-sheet trouble? For Jagsonpal Pharmaceuticals 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 Jagsonpal Pharmaceuticals rank in its industry? 46.5 out of 100, rank 9 of 14 in Pharma - API, with 100% of the evidence available. Jagsonpal Pharmaceuticals Ltd scores 46.5 out of 100 against the 14 companies it is compared with in Pharma - API, ranking 9. A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. The four parts add up to the total exactly: 14.6 + 19.1 + 6.4 + 6.4 = 46.5. 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 Jagsonpal Pharmaceuticals compared with? Jagsonpal Pharmaceuticals ranks 9 of 14 Pharma - API companies on the 4-Factor Sector Score, with 46.5 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](https://www.sectoralpha.in/stocks/innova-captab-ltd) 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 this page 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 Jagsonpal Pharmaceuticals in size? Jagsonpal Pharmaceuticals is the 9th largest of 14 Pharma - API companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Aarti Drugs, Ind-Swift Laboratories and Beta Drugs. Just below it: Fermenta Biotech, Kopran and Anuh Pharma. ### Pharma - API companies close in size

1. [Aarti Drugs Ltd](https://www.sectoralpha.in/stocks/aarti-drugs-ltd) ₹3,972 crore
2. [Ind-Swift Laboratories Ltd](https://www.sectoralpha.in/stocks/ind-swift-laboratories-ltd) ₹3,202 crore
3. [Beta Drugs Ltd](https://www.sectoralpha.in/stocks/beta-drugs-ltd) ₹2,000 crore
4. Jagsonpal Pharmaceuticals Ltd ₹1,427 crore
5. [Fermenta Biotech Ltd](https://www.sectoralpha.in/stocks/fermenta-biotech-ltd) ₹1,229 crore
6. [Kopran Ltd](https://www.sectoralpha.in/stocks/kopran-ltd) ₹1,155 crore
7. [Anuh Pharma Ltd](https://www.sectoralpha.in/stocks/anuh-pharma-ltd) ₹875 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. [Suryoday Small Finance Bank Ltd](https://www.sectoralpha.in/stocks/suryoday-small-finance-bank-ltd) ₹1,432 crore · Banks - Small Finance
2. [Prizor Viztech Ltd](https://www.sectoralpha.in/stocks/prizor-viztech-ltd) ₹1,428 crore · CCTV Camera
3. Jagsonpal Pharmaceuticals Ltd ₹1,427 crore
4. [GPT Infraprojects Ltd](https://www.sectoralpha.in/stocks/gpt-infraprojects-ltd) ₹1,418 crore · Cement Products
5. [Aeroflex Enterprises Ltd](https://www.sectoralpha.in/stocks/aeroflex-enterprises-ltd) ₹1,410 crore · Miscellaneous

## What else do people ask about Jagsonpal Pharmaceuticals? ### What were Jagsonpal Pharmaceuticals's latest quarterly results? Jagsonpal Pharmaceuticals Ltd reported revenue of ₹81.0 Cr and net profit of ₹13.0 Cr for the Sep 2026 quarter. Revenue rose 9.5% and profit rose 0.0% compared with a year earlier. Earnings per share were ₹1.91. The operating margin was 21.0%, 1.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Jagsonpal Pharmaceuticals's market cap? Jagsonpal Pharmaceuticals Ltd's market capitalisation is ₹1,428 Cr at a share price of ₹216.21. 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 Jagsonpal Pharmaceuticals performing? Jagsonpal Pharmaceuticals Ltd's share price has been rising for 20 weeks. In its latest quarter, revenue rose 9.5% and profit rose 0.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 40 weeks running (as of 3 November 2026). ### Will Jagsonpal Pharmaceuticals's share price go up? This page does not forecast Jagsonpal Pharmaceuticals Ltd's share price. What it shows instead: the share price is ₹216.21, and it has been rising for 20 weeks. Its P/E of 30.2× is higher than 43% of its own last 11 years (as of 3 November 2026). ### Does Jagsonpal Pharmaceuticals have too much debt? No, Jagsonpal Pharmaceuticals Ltd has little debt: its debt is 0.03× its equity, and its operating profit is 58 times its interest bill. FY26 borrowings were ₹8.0 Cr against equity of ₹276 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Jagsonpal Pharmaceuticals in its business cycle? Jagsonpal Pharmaceuticals Ltd's FY26 operating margin was 20.0%, against a 13-year range of −9.0% to 20.0%: 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 21.0%. 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 Jagsonpal Pharmaceuticals 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 Jagsonpal Pharmaceuticals a stock worth studying right now? What the numbers show: Jagsonpal Pharmaceuticals Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. 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 Jagsonpal Pharmaceuticals share price forecast for 2026? What management itself guided: Quarterly revenue to cross ₹100 crore in October to December 2026. What is changing at Jagsonpal Pharmaceuticals, from the latest results and calls: equitas institutional hospital expansion, core therapy premiumization and specialty mix and sales force productivity without headcount addition. What would change the story: Branded formulation revenue sustaining above 15% on a year earlier growth for three consecutive quarters with operating margins having above 20% on organic gross-margin expansion and monthly medical-representative productivity exceeding 2.5 lakh rupees. ## Lists

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

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