# Natco Pharma share price today (Natco Pharma Ltd, NSE: NATCOPHARM)

> Natco Pharma share price today: ₹781.60 at the NSE close on 3 November 2026, down 4.7% in a year. Natco Pharma (NSE: NATCOPHARM) is worth ₹15,340 crore, trades at a P/E of 13.4 and has closed between ₹781.60 and ₹1,199.10 over the past 52 weeks. > Natco Pharma Ltd's P/E is near the low end of its own history, higher than only 15% of past readings, and its quarterly results are still getting worse. NATCOPHARM · Pharma - Formulators · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/natco-pharma-ltd

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: ₹781.60 (−4.7% in a year)
- P/E: 13.4× (lower than 85% of the last 11 years)
- Revenue (Jun 2026): ₹735 Cr (−44.7% on a year ago)
- Profit (Jun 2026): ₹206 Cr (−57.1% on a year ago)
- Operating margin: 25.0% (−18.0 points on a year ago)
- ROCE: 17%, FY26
- ROIC: 10.2%, against a 12.0% cost of capital: −1.8 points

The main question: the P/E is near the low end of its own history, higher than only 15% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. ## What is the Natco Pharma share price today? Natco Pharma Ltd's share price was ₹781.60 at the close on 3 November 2026. It has been falling for 14 weeks. That is 12.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹782 and ₹1,199, and at that close it was at the low of that range. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 12 weeks running. Over the last 11 years the share price moved +86% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 14 August 2026. 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 Natco Pharma this quarter? Two changes stood out: operating margin down 18 points on a year earlier and indian funds and insurers (DIIs) raised their stake for 3 quarters in a row. 1. Operating margin down 18 points on a year earlier 25% in the June 2026 quarter, from 43%. Why: The quarter had almost no Revlimid sales, a high margin product that had lifted the year earlier quarter, while growth in the base business only partly filled the gap. Next results: check whether Adcock's profit holds beyond the flu season and whether the base business keeps growing, since management said not to treat the flu season lift as recurring. From the earnings call on 14 Aug 2026. 2. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row From 5.4% to 6.2% of the company by the September 2026 quarter. ## What are Natco Pharma's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Natco Pharma reported revenue of ₹735 crore, down 44.7% from ₹1,329 crore a year earlier, and a profit of ₹206 crore, down 57.1% from ₹480 crore. ### Natco Pharma results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹735 crore | ₹1,329 crore | −44.7% |
| Profit | ₹206 crore | ₹480 crore | −57.1% |
| Earnings per share | ₹10.52 | ₹24.50 | −57.1% |
| Operating margin | 25.0% | 43.0% | −18.0 points |

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

## What is the Natco Pharma share price history? Natco Pharma closed at ₹781.60 on 3 November 2026, down 4.7% from ₹819.90 a year earlier (31 October 2025) and down 9.1% over five years. Its highest weekly close since February 2016 was ₹1,582.50 on 13 September 2024. ### Natco Pharma share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹792.20 | −1.3% |
| 1 month ago · 1 Oct 2026 | ₹821.75 | −4.9% |
| 6 months ago · 30 Apr 2026 | ₹1,095.75 | −28.7% |
| 1 year ago · 31 Oct 2025 | ₹819.90 | −4.7% |
| 3 years ago · 3 Nov 2023 | ₹743.60 | +5.1% |
| 5 years ago · 4 Nov 2021 | ₹859.95 | −9.1% |
| 10 years ago · 4 Nov 2016 | ₹564.85 | +38.4% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹421.30 | +85.5% |
| Highest weekly close since February 2016 · 13 Sep 2024 | ₹1,582.50 | −50.6% |
| Lowest weekly close since February 2016 · 1 Apr 2016 | ₹418.15 | +86.9% |
| 52-week high (weekly close) · 15 May 2026 | ₹1,199.10 | −34.8% |
| 52-week low (weekly close) · 3 Nov 2026 | ₹781.60 | 0.0% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on Natco Pharma? 3 Nov 2026: Natco Pharma closed at ₹781.60, down 1.3% on the week and down 4.9% on the month. 20 Aug 2026: ex-date for an interim dividend of ₹1.50 a share. ### Earlier

- 14 Aug 2026: Natco Pharma held its results call for April to June 2026. Management guided: FY27 profit around ₹750 crore; CEO reaffirmed it under Q&A, conflicting with an earlier answer citing about ₹1,200 crore profit and gross sales of 33-34 billion. - Results for April to June 2026: Revenue down 44.7% and profit down 57.1% on a year earlier. - 18 Feb 2026: ex-date for an interim dividend of ₹1.50 a share. - 20 Nov 2025: ex-date for an interim dividend of ₹1.50 a share. ## What dividend does Natco Pharma pay? The last was an interim dividend of ₹1.50 a share, ex-date 20 August 2026. ### Natco Pharma dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 20 Aug 2026 | ₹1.50 | Interim | same day |
| 18 Feb 2026 | ₹1.50 | Interim | same day |
| 20 Nov 2025 | ₹1.50 | Interim | same day |
| 19 Aug 2025 | ₹2 | Interim | same day |
| 18 Feb 2025 | ₹1.50 | Interim | same day |
| 27 Nov 2024 | ₹1.50 | Interim | same day |
| 23 Aug 2024 | ₹3 | Interim | same day |
| 26 Feb 2024 | ₹1.25 | Interim | same day |
| 24 Nov 2023 | ₹1.25 | Interim | same day |
| 22 Aug 2023 | ₹7 | Interim | same day |
| 21 Feb 2023 | ₹1.25 | Interim | same day |
| 21 Nov 2022 | ₹0.75 | Interim | 22 Nov 2022 |
| 19 Aug 2022 | ₹3.50 | Interim | 22 Aug 2022 |
| 24 Feb 2022 | ₹2 | Interim | 25 Feb 2022 |
| 23 Nov 2021 | ₹0.50 | Interim | 24 Nov 2021 |
| 24 Aug 2021 | ₹2 | Interim | 25 Aug 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. We do not print a yield for Natco Pharma: one of its dividend records from the last 12 months could not be read cleanly or matched to today’s share count, and we do not guess. Yes. Natco Pharma Ltd paid out 6% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Natco Pharma management say on the latest results call? On the call for April to June 2026, held on 14 August 2026, Natco Pharma's management guided: FY27 profit around ₹750 crore; CEO reaffirmed it under Q&A, conflicting with an earlier answer citing about ₹1,200 crore profit and gross sales of 33-34 billion. > “Wait, wait, wait, wait one second. Do not annualize it. It is a seasonal increase because it was a flu season. Our guidance still remains around Rs 750 crores. I am not changing the guidance.”
> Rajeev Nannapaneni, on the call for April to June 2026

### What management guided

- Domestic revenue expected to increase about 25% in FY27 because of Semaglutide. - Crop Health Sciences expected to break even in FY27, with Q2 significantly better than Q1. - Organic capital spending at ₹250-300 crores annually. - Carfilzomib plant upgrade expected complete by year-end and launch remains on track; two unnamed US launches expected next financial year; internal goals are 8-10 ANDAs and 2-3 FTFs annually, with 1-2 FTFs planned this year. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/2790/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 14 August 2026.)

## What to watch in Natco Pharma's next results? When Natco Pharma reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Crop Health Sciences Q2 improvement and progress toward annual break-even - check whether delayed cropping activity reverses the Q1 loss. - What to check (from the call)
- Crop Health Sciences Q2 improvement and progress toward annual break-even - check whether delayed cropping activity reverses the Q1 loss. - Adcock earnings contribution after the flu-season boost - check whether recurring performance broadens beyond the seasonal quarter. - Olaparib trial, exclusivity decision and launch path in coming months - check whether litigation uncertainty narrows. - Fundraise structure, timing and acquisition disclosure - check whether the proposed capital plan becomes actionable. ## Which stock lists is Natco Pharma on? Natco Pharma is on 3 of our India lists: 52 week high & low, Small & mid cap stocks and Pharma stocks. - [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 421](https://www.sectoralpha.in/small-cap-stocks-india)
- [Pharma stocks Market value (₹ crore): 15413.715490797547](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Natco Pharma profitable? Natco Pharma Ltd earned ₹206 Cr of net profit in the Jun 2026 quarter, −57.1% on the same quarter a year earlier. Full-year FY26 profit was ₹1,418 Cr. Over 10 years profit has grown 24.7% a year on average. That is 28.0% of the quarter's revenue. The same quarter a year earlier earned ₹480 Cr. Why profit moved: revenue changed −44.7% on a year earlier and the margin moved −18.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −25.0% and revenue −12.2%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Natco Pharma make, and is it growing? Natco Pharma Ltd reported ₹735 Cr of revenue in the Jun 2026 quarter, −44.7% on the same quarter a year earlier. Over 10 years it has grown 14.6% a year on average. The last full year, FY26, came in at ₹4,078 Cr. The last four reported quarters add to ₹3,484 Cr. FY26 revenue was ₹4,078 Cr, −7.9% on the year before. Recent pace: the last four quarters grew −12.2% on average, against 14.6% 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 −20.7%, against −9.1% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −32.5%, against −16.4% a year (rolling over). ## How much of every ₹100 of sales does Natco Pharma keep? Natco Pharma Ltd's operating margin was 25.0% in the Jun 2026 quarter, 18.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 14.0% and 50.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −17.6 percentage points on the year while gross margin changed −2.5 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Natco Pharma's profit turning into cash? Over the last 3 years, 100% of Natco Pharma Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹1,768 Cr of operating cash against ₹1,418 Cr of profit. After ₹381 Cr of spending on assets, ₹1,387 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 100% of profit came in as cash: the cash cycle got 196 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 2.0× depreciation over three years. The next section checks what that spending is building. ## Where does Natco Pharma's cash go? Natco Pharma Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 343 days in FY26, down from 539 days in FY21. It spent ₹1,235 Cr on assets over the last 3 years. Customers take 79 days to pay, and stock sits for 480 days on average. At FY26 sales of ₹4,078 Cr, each day of that cycle ties up about ₹11.2 Cr, so roughly ₹3,832 Cr is tied up in the business at any time. FY26: customers took 79 days to pay and stock sat for 480 days, about 15.8 months of sales sitting as stock, for a full cycle of 343 days, shorter than FY21's 539. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 480 days. Customers pay about 79 days after that. Suppliers are paid at 216 days. Together that makes the 343-day cycle. Spending on assets: ₹1,235 Cr over the last 3 years, against ₹629 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 ₹294 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 Natco Pharma's P/E ratio, and how does it compare with its own history? Natco Pharma Ltd's P/E is 13.4×, near the low end of its own history: it has been lower only 15% of the time. Its usual P/E (the middle reading) is 24.1×, 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. Why the multiple is where it is: over the past year earnings per share moved −24.8% while the price moved −4.7%. 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 −1.9% a year; about +24.3% a year came from earnings growth and about −26.2 percentage points from the multiple (the market paying less); over 10 years the price moved +3.3% a year; about +18.0% a year came from earnings growth and about −14.7 percentage points from the multiple (the market paying less). 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 low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Natco Pharma business getting better or worse? Natco Pharma Ltd's business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −20.7% in the latest quarter, against +59.0% at its best in 12 quarters, with ROCE falling at 13.5%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## What is Natco Pharma management's track record? Natco Pharma maintains a strong track record of meeting conservative guidance. For FY25, it delivered a profit of ₹1,883 Cr, hitting its ₹1.8k-2k Cr goal. For FY26, management guided for a 30% profit dip to ~₹1,300 Cr due to the Revlimid cliff. However, actual performance has been resilient: Q1 profit was ₹480 Cr, Q2 was ₹518 Cr, and Q3 (the first ex-Revlimid quarter) was ₹151.3 Cr. With Q4 estimates at ₹330-380 Cr, FY26 profit is likely to reach ~₹1,500 Cr, a ~15% beat on guidance. Guidance Accuracy: 2/2. Key catalysts include the FY27 India launch of Semaglutide and the CY26 demerger of the agrochemical business. ### Regulatory and governance record

Natco Pharma Ltd (NATCOPHARM) has no record of SEBI penalties, promoter fraud, or insider trading investigations in the 2024-2026 period. The primary regulatory actions involve the USFDA and tax authorities. In April 2024, the USFDA issued a Warning Letter for the Kothur facility citing CGMP violations related to equipment cleaning; however, this was officially 'closed out' by the USFDA on September 25, 2025, after remediation. A subsequent inspection in June 2025 resulted in 7 observations (Form 483) for the same site, while the Mekaguda API plant received a 'Voluntary Action Indicated' (VAI) status in July 2025. Additionally, a GST penalty of ₹38.36 lakh was imposed in January 2025 regarding transitional credit. The company maintains active SEBI compliance, with shareholders approving director reappointments in April 2026. (Checked 20 April 2026.)

## How much does Natco Pharma earn on its capital? Natco Pharma Ltd earned a ROCE of 17% in FY26. That is up from a low of 4% in FY22. Its return on capital used (ROIC) is 1.8 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 34.8% net margin and 0.37× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 34.8% net margin × 0.37× asset turnover × 1.20× leverage (assets divided by equity) ≈ 15.5% 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: 10.2% − 12.0% = −1.8 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. Negative: growth at these returns loses value until returns improve. The 10.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 17.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Natco Pharma have too much debt? Natco Pharma Ltd has total debt of ₹714 Cr against shareholder equity of ₹9,221 Cr as of Jun 2026, so its debt is 0.08× its equity, which is very little. Year by year, that ratio went from 0.10 in FY22 to 0.08 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Natco Pharma shareholding pattern? Foreign institutions cut their stake in Natco Pharma Ltd by 1.5 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 16.0% of the company. Domestic institutions moved −0.6 points over the same period, to 6.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −1.5 points over 8 quarters, to 16.0%; Domestic institutions: −0.6 points over 8 quarters, to 6.2%; Promoters: −0.2 points over 8 quarters, to 49.4%. Why the owners changed: foreign institutions drove it (−1.5 points), together with domestic institutions (−0.6 points). They reduced their stake. ## How far is Natco Pharma from balance-sheet trouble? For Natco Pharma 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 Natco Pharma rank in its industry? 38.8 out of 100, rank 35 of 44 in Pharma - Formulators, with 96% of the evidence available. Natco Pharma Ltd scores 38.8 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 35. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 4.8 + 13.8 + 19.1 + 1.1 = 38.8. 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 Natco Pharma compared with? Natco Pharma ranks 35 of 44 Pharma - Formulators companies on the 4-Factor Sector Score, with 38.8 out of 100. 1. [Rubicon Research Ltd](https://www.sectoralpha.in/stocks/rubicon-research-ltd) RUBICON · leader · Most evidence points up · 83% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 46.8% · Profit 91.4% · Operating margin change 2 points · 88% evidence Capital efficiency 18.6/25 · ROCE 28.4% · Operating margin 24% · 100% evidence Valuation 6.2/20 · P/E 92.5× · PEG 2.31 · 65% evidence Relative strength 16.5/20 · Lead over its industry 28.1% · Lead over NIFTY 500 53.6% · 1 year 160.5% · 70% evidence · 11 of 12 weeks ahead Exact sum: 30.1 + 18.6 + 6.2 + 16.5 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Kwality Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/kwality-pharmaceuticals-ltd) KPL · breaking out · Most evidence points up · 81% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 37.9% · Profit 88.4% · Operating margin change 3 points · 88% evidence Capital efficiency 18.2/25 · ROCE 24.1% · Operating margin 25% · 100% evidence Valuation 11.0/20 · P/E 44.2× · PEG 0.54 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 74.4% · 1 year 288.9% · 25% evidence · 9 of 9 weeks ahead Exact sum: 29.9 + 18.2 + 11 + 12.3 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Accent Microcell Ltd](https://www.sectoralpha.in/stocks/accent-microcell-ltd) ACCENTMIC · leader · Most evidence points up · 65% evidence 70.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue n/a · Profit n/a · Operating margin change 7 points · 27% evidence Capital efficiency 21.4/25 · ROCE 24.9% · Operating margin 24% · 100% evidence Valuation 9.1/20 · P/E 26.9× · PEG n/a · 50% evidence Relative strength 18.6/20 · Lead over its industry 21.4% · Lead over NIFTY 500 47.6% · 1 year 132.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.4 + 21.4 + 9.1 + 18.6 = 70.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Ajanta Pharma Ltd](https://www.sectoralpha.in/stocks/ajanta-pharma-ltd) AJANTPHARM · leader · Most evidence points up · 100% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 25% · Profit 29.8% · Operating margin change 7 points · 100% evidence Capital efficiency 21.3/25 · ROCE 34.5% · Operating margin 31% · 100% evidence Valuation 7.1/20 · P/E 34.7× · PEG 1.77 · 100% evidence Relative strength 10.5/20 · Lead over its industry -3.5% · Lead over NIFTY 500 20% · 1 year 42.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.3 + 21.3 + 7.1 + 10.5 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Glenmark Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/glenmark-pharmaceuticals-ltd) GLENMARK · breaking out · Most evidence points up · 86% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 32.9% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 20.3/25 · ROCE 39.8% · Operating margin 20% · 100% evidence Valuation 11.2/20 · P/E 20.8× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry -11.4% · Lead over NIFTY 500 10.8% · 1 year 21.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 29.1 + 20.3 + 11.2 + 8.6 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bliss GVS Pharma Ltd](https://www.sectoralpha.in/stocks/bliss-gvs-pharma-ltd) BLISSGVS · leader · Most evidence points up · 82% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.3/35 · Revenue 25% · Profit 43.1% · Operating margin change 8 points · 95% evidence Capital efficiency 14.7/25 · ROCE 16.9% · Operating margin 26% · 76% evidence Valuation 6.4/20 · P/E 42.4× · PEG n/a · 50% evidence Relative strength 16.7/20 · Lead over its industry 59% · Lead over NIFTY 500 86.2% · 1 year 312.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.3 + 14.7 + 6.4 + 16.7 = 67.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) FREDUN · breaking out · Most evidence points up · 76% evidence 65.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.9/43.75 · Revenue 50.3% · Profit 91.3% · Operating margin change 0 points · 88% evidence Capital efficiency 19.0/31.25 · ROCE 21.5% · Operating margin 14% · 100% evidence Valuation 14.9/25 · P/E 52.7× · PEG 0.77 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 31.9 + 19 + 14.9 = 65.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) LUPIN · quiet · Most evidence points up · 89% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 28.2% · Profit 49.2% · Operating margin change 2 points · 88% evidence Capital efficiency 19.4/25 · ROCE 29.9% · Operating margin 30% · 100% evidence Valuation 16.1/20 · P/E 15.4× · PEG 0.54 · 65% evidence Relative strength 2.0/20 · Lead over its industry -24.5% · Lead over NIFTY 500 -4.7% · 1 year 2.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.9 + 19.4 + 16.1 + 2 = 65.4 · What this means: Earnings are strong; relative strength in its sector is -24.5% and the one-year return is 2.4%. 9. [Ipca Laboratories Ltd](https://www.sectoralpha.in/stocks/ipca-laboratories-ltd) IPCALAB · turning · Most evidence points up · 78% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 10.6% · Profit 68% · Operating margin change 6 points · 83% evidence Capital efficiency 15.7/25 · ROCE 17% · Operating margin 24% · 76% evidence Valuation 11.0/20 · P/E 35.6× · PEG n/a · 50% evidence Relative strength 14.7/20 · Lead over its industry -0.5% · Lead over NIFTY 500 23.6% · 1 year 51.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24 + 15.7 + 11 + 14.7 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Marksans Pharma Ltd](https://www.sectoralpha.in/stocks/marksans-pharma-ltd) MARKSANS · leader · Evidence leans up · 74% evidence 64.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 19.6% · Profit 48% · Operating margin change 9 points · 88% evidence Capital efficiency 17.2/25 · ROCE 18.8% · Operating margin 25% · 100% evidence Valuation 6.3/20 · P/E 26.8× · PEG 2.85 · 65% evidence Relative strength 11.9/20 · Lead over its industry n/a · Lead over NIFTY 500 40.1% · 1 year 68.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.7 + 17.2 + 6.3 + 11.9 = 64.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 11. [FDC Ltd](https://www.sectoralpha.in/stocks/fdc-ltd) FDC · basing · Evidence leans up · 85% evidence 62.8 out of 100 Growth Capital Valuation Relative
12. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) CORONA · turning · Evidence leans up · 73% evidence 62.5 out of 100 Growth Capital Valuation Relative
13. [Emcure Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/emcure-pharmaceuticals-ltd) EMCURE · losing its lead · Evidence leans up · 71% evidence 61.8 out of 100 Growth Capital Valuation Relative
14. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) MANKIND · turning · Evidence leans up · 100% evidence 61.0 out of 100 Growth Capital Valuation Relative
15. [Zydus Lifesciences Ltd](https://www.sectoralpha.in/stocks/zydus-lifesciences-ltd) ZYDUSLIFE · leader · Evidence leans up · 96% evidence 58.1 out of 100 Growth Capital Valuation Relative
16. [Gufic BioSciences Ltd](https://www.sectoralpha.in/stocks/gufic-biosciences-ltd) GUFICBIO · leader · Evidence leans up · 71% evidence 56.2 out of 100 Growth Capital Valuation Relative
17. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ERIS · basing · Evidence leans up · 67% evidence 56.1 out of 100 Growth Capital Valuation Relative
18. [Strides Pharma Science Ltd](https://www.sectoralpha.in/stocks/strides-pharma-science-ltd) STAR · breaking out · Evidence leans up · 75% evidence 55.3 out of 100 Growth Capital Valuation Relative
19. [Caplin Point Laboratories Ltd](https://www.sectoralpha.in/stocks/caplin-point-laboratories-ltd) CAPLIPOINT · losing its lead · Evidence leans up · 96% evidence 54.3 out of 100 Growth Capital Valuation Relative
20. [Wockhardt Ltd](https://www.sectoralpha.in/stocks/wockhardt-ltd) WOCKPHARMA · losing its lead · Evidence leans up · 71% evidence 52.8 out of 100 Growth Capital Valuation Relative
21. [Kilitch Drugs (India) Ltd](https://www.sectoralpha.in/stocks/kilitch-drugs-indialtd) KILITCH · breaking out · Evidence leans up · 78% evidence 51.3 out of 100 Growth Capital Valuation Relative
22. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) AKUMS · leader · Evidence leans up · 71% evidence 50.9 out of 100 Growth Capital Valuation Relative
23. [Alkem Laboratories Ltd](https://www.sectoralpha.in/stocks/alkem-laboratories-ltd) ALKEM · quiet · Evidence leans down · 78% evidence 47.6 out of 100 Growth Capital Valuation Relative
24. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) APLLTD · turning · Evidence leans down · 81% evidence 46.9 out of 100 Growth Capital Valuation Relative
25. [Bajaj Healthcare Ltd](https://www.sectoralpha.in/stocks/bajaj-healthcare-ltd) BAJAJHCARE · quiet · Evidence leans down · 100% evidence 46.5 out of 100 Growth Capital Valuation Relative
26. [Lincoln Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/lincoln-pharmaceuticals-ltd) LINCOLN · quiet · Evidence leans down · 100% evidence 46.0 out of 100 Growth Capital Valuation Relative
27. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) BPLPHARMA · breaking out · Too little evidence to rank firmly · 52% evidence 45.9 out of 100 Growth Capital Valuation Relative
28. [Aurobindo Pharma Ltd](https://www.sectoralpha.in/stocks/aurobindo-pharma-ltd) AUROPHARMA · leader · Evidence leans down · 96% evidence 45.7 out of 100 Growth Capital Valuation Relative
29. [Amrutanjan Health Care Ltd](https://www.sectoralpha.in/stocks/amrutanjan-health-care-ltd) AMRUTANJAN · turning · Evidence leans down · 96% evidence 44.9 out of 100 Growth Capital Valuation Relative
30. [RPG Life Sciences Ltd](https://www.sectoralpha.in/stocks/rpg-life-sciences-ltd) RPGLIFE · losing its lead · Evidence leans down · 100% evidence 43.1 out of 100 Growth Capital Valuation Relative
31. [J B Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/j-b-chemicals-pharmaceuticals-ltd) JBCHEPHARM · Too little evidence to rank firmly · 59% evidence 42.6 out of 100 Growth Capital Valuation Relative
32. [Zim Laboratories Ltd](https://www.sectoralpha.in/stocks/zim-laboratories-ltd) ZIMLAB · leader · Evidence leans down · 71% evidence 42.2 out of 100 Growth Capital Valuation Relative
33. [Sun Pharmaceutical Industries Ltd](https://www.sectoralpha.in/stocks/sun-pharmaceutical-industries-ltd) SUNPHARMA · quiet · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
34. [Dr Reddys Laboratories Ltd](https://www.sectoralpha.in/stocks/dr-reddys-laboratories-ltd) DRREDDY · turning · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
35. Natco Pharma Ltd this page NATCOPHARM · quiet · Evidence leans down · 96% evidence 38.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 4.8/35 · Revenue -20.8% · Profit -32.5% · Operating margin change -18 points · 88% evidence Capital efficiency 13.8/25 · ROCE 17.4% · Operating margin 25% · 100% evidence Valuation 19.1/20 · P/E 13.4× · PEG 0.25 · 100% evidence Relative strength 1.1/20 · Lead over its industry -29.6% · Lead over NIFTY 500 -10.2% · 1 year -4.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 4.8 + 13.8 + 19.1 + 1.1 = 38.8 · 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. 36. [Bafna Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/bafna-pharmaceuticals-ltd) BAFNAPH · breaking out · Evidence leans down · 74% evidence 35.8 out of 100 Growth Capital Valuation Relative
37. [Cipla Ltd](https://www.sectoralpha.in/stocks/cipla-ltd) CIPLA · turning · Evidence leans down · 100% evidence 35.4 out of 100 Growth Capital Valuation Relative
38. [Torrent Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/torrent-pharmaceuticals-ltd) TORNTPHARM · losing its lead · Most evidence points down · 100% evidence 34.6 out of 100 Growth Capital Valuation Relative
39. [Biocon Ltd](https://www.sectoralpha.in/stocks/biocon-ltd) BIOCON · quiet · Most evidence points down · 96% evidence 34.4 out of 100 Growth Capital Valuation Relative
40. [Suven Life Sciences Ltd](https://www.sectoralpha.in/stocks/suven-life-sciences-ltd) SUVEN · quiet · Most evidence points down · 64% evidence 33.1 out of 100 Growth Capital Valuation Relative
41. [Influx Healthtech Ltd](https://www.sectoralpha.in/stocks/influx-healthtech-ltd) INFLUX · quiet · Too little evidence to rank firmly · 42% evidence 49.7 out of 100 Growth Capital Valuation Relative
42. [Syncom Healthcare Ltd](https://www.sectoralpha.in/stocks/syncom-healthcare-ltd) SYNCOM · Too little evidence to rank firmly · 17% evidence 42.3 out of 100 Growth Capital Valuation Relative
43. [Indoco Remedies Ltd](https://www.sectoralpha.in/stocks/indoco-remedies-ltd) INDOCO · losing its lead · Too little evidence to rank firmly · 49% evidence 38.4 out of 100 Growth Capital Valuation Relative
44. [Sai Parenterals Ltd](https://www.sectoralpha.in/stocks/sai-parenterals-ltd) SAIPARENT · turning · Too little evidence to rank firmly · 31% evidence 36.7 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 - Formulators](https://www.sectoralpha.in/sectors/pharma-formulators), all 44 compared on one page. ## Which companies are close to Natco Pharma in size? Natco Pharma is the 21st largest of 44 Pharma - Formulators companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Caplin Point Laboratories, ERIS Lifesciences and Alembic Pharmaceuticals. Just below it: Marksans Pharma, Corona Remedies and Akums Drugs & Pharmaceuticals. ### Pharma - Formulators companies close in size

1. [Caplin Point Laboratories Ltd](https://www.sectoralpha.in/stocks/caplin-point-laboratories-ltd) ₹17,677 crore
2. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ₹16,044 crore
3. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) ₹15,683 crore
4. Natco Pharma Ltd ₹15,348 crore
5. [Marksans Pharma Ltd](https://www.sectoralpha.in/stocks/marksans-pharma-ltd) ₹13,876 crore
6. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) ₹13,147 crore
7. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) ₹11,517 crore

[All 44 Pharma - Formulators companies, largest first](https://www.sectoralpha.in/sectors/pharma-formulators#all-companies)

### Companies close in size in other industries

1. [Sarda Energy & Minerals Ltd](https://www.sectoralpha.in/stocks/sarda-energy-minerals-ltd) ₹15,535 crore · Mining/Minerals - Iron Ore
2. [Fine Organic Industries Ltd](https://www.sectoralpha.in/stocks/fine-organic-industries-ltd) ₹15,480 crore · Chemicals - Organic
3. Natco Pharma Ltd ₹15,348 crore
4. [PG Electroplast Ltd](https://www.sectoralpha.in/stocks/pg-electroplast-ltd) ₹15,200 crore · Consumer Electronics - EMS
5. [PC Jeweller Ltd](https://www.sectoralpha.in/stocks/pc-jeweller-ltd) ₹15,182 crore · Diamond, Gems & Jewellery

## What else do people ask about Natco Pharma? ### What is Natco Pharma's share price today? Natco Pharma Ltd's share price is ₹781.60, −4.7% over the past year. The whole company is worth ₹15,340 Cr on the market. It is at its lowest price of the past 52 weeks (range ₹782 to ₹1,199), 12.7% below its 200-day average. The price has been falling for 14 weeks (as of 3 November 2026). ### What were Natco Pharma's latest quarterly results? Natco Pharma Ltd reported revenue of ₹735 Cr and net profit of ₹206 Cr for the Jun 2026 quarter. Revenue fell 44.7% and profit fell 57.1% compared with a year earlier. Earnings per share were ₹10.52. The operating margin was 25.0%, 18.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Natco Pharma's market cap? Natco Pharma Ltd's market capitalisation is ₹15,340 Cr at a share price of ₹781.60. 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 Natco Pharma performing? Natco Pharma Ltd's share price has been falling for 14 weeks. In its latest quarter, revenue fell 44.7% and profit fell 57.1% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 12 weeks running (as of 3 November 2026). ### Will Natco Pharma's share price go up? This page does not forecast Natco Pharma Ltd's share price. What it shows instead: the share price is ₹781.60, and it has been falling for 14 weeks. Its P/E of 13.4× is higher than 15% of its own last 11 years (as of 3 November 2026). ### Who owns Natco Pharma? Promoters own 49.4% of Natco Pharma Ltd, foreign institutions 16.0%, domestic institutions 6.2% and the public 28.5% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 1.5 percentage points over 8 quarters (as of 3 November 2026). ### Where is Natco Pharma in its business cycle? Natco Pharma Ltd's FY26 operating margin was 36.0%, against a 13-year range of 14.0% to 50.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 25.0%. 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 Natco Pharma story? The main question: the P/E is near the low end of its own history, higher than only 15% of past readings, but results are getting worse. A low multiple can stay low until the quarters turn. 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 Natco Pharma a stock worth studying right now? What the numbers show: Natco Pharma Ltd's P/E is near the low end of its own history, higher than only 15% of past readings, and its quarterly results are still getting worse. The main open question: whether results start to improve. 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 Natco Pharma share price forecast for 2026? What management itself guided: FY27 profit around ₹750 crore; CEO reaffirmed it under Q&A, conflicting with an earlier answer citing about ₹1,200 crore profit and gross sales of 33-34 billion. ### Where does this page get Natco Pharma's management information? From Natco Pharma's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

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