Novartis India Ltd
NOVARTINDNovartis India Ltd's price has outrun its earnings. +59.7% in a year against EPS −7.7% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +59.7% in a year while annual EPS moved −7.7% — 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 69th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +14.3% year on year, and 84% 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.
Novartis India Ltd trades at ₹1,544, in a confirmed uptrend and 18 weeks into that stage. That is +34.2% against its own 200-day average. It sits at 88% of a 52-week range of ₹769 to ₹1,647. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is in a confirmed uptrend — week 18 of stage 2, confirmed. At ₹1,544 it trades +34.2% versus its 200-day average and sits at 88% of its 52-week range (₹769–₹1,647).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +144% while the NIFTY 500 moved +282% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 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.
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.
Novartis India Ltd trades at 38.8× P/E, mid-range by its own standards (69th percentile). Its long-run median P/E is 30.3×, measured across 10.4 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 38.8× is mid-range by its own standards (69th percentile), against a long-run median of 30.3× measured over 10.4 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 −7.7% against a +59.7% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +10.0%/yr price move, ~+36.2%/yr came from earnings growth and ~−26.2 pp from the multiple (compressing); over 10y, of the +8.2%/yr price move, ~−4.7%/yr came from earnings growth and ~+12.9 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.
Stage: Topping out 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).
Novartis India Ltd reads as topping out on its fundamental arc. Topping out — profit and EPS growth have decelerated hard (profit growth +45.3% at its peak → −4.9% latest) while ROCE still reads 16.0%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: decelerating from a peak is where good stories quietly end — the multiple usually notices late.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −0.6% | −2.2% | −1.5% | −6.5% |
| Profit | −7.9% | −3.3% | +34.7% | −7.3% |
| EPS | −7.7% | −3.4% | +34.9% | −4.8% |
| Share price | +59.7% | +27.9% | +10.0% | +8.2% |
4-Factor Sector Score
46.8/100 — rank 6 of 8 in Pharma - MNC bulk Drugs · 100% evidence confidence
Novartis India Ltd scores 46.8 out of 100 against the 8 companies it is compared with in Pharma - MNC bulk Drugs, ranking 6. Price leads the evidence: RS versus the benchmark is 49%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 13.3 + 6.9 + 6.6 + 20 = 46.8. 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.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Novartis India Ltd reported ₹104 Cr of revenue in the Jun 26 quarter, +18.2% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at −6.5% a year. The last full year, FY26, came in at ₹354 Cr. The last four reported quarters add to ₹371 Cr.
FY26 revenue came in at ₹354 Cr (−0.6% on the year), capping 10 years at −6.5% compound. The latest quarter (Jun 26) printed ₹104 Cr, +18.2% year on year — the 2nd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +5.6% growth against the decade's −6.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +5.4% over the last 4 quarters against +4.9%/yr over the last 8 — stabilising; TTM profit −4.9% vs +2.7%/yr — rolling over.
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.
Novartis India Ltd's operating margin is 34.0% 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 13 fiscal years the operating margin has ranged −1.1% to 27.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 34.0%, +3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −1.1%–27.0%, and FY26's 27.0% is the top of that band — a record year.
Why the margin moved: operating margin went +2.5 pp year on year while gross margin went −0.2 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
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.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Novartis India Ltd earned ₹32.0 Cr of net profit in the Jun 26 quarter, +14.3% year on year. Full-year FY26 profit was ₹93.0 Cr. The 10-year compound rate is −7.3%. That is 30.8% of the quarter's revenue. The same quarter a year earlier earned ₹28.0 Cr.
Jun 26 profit was ₹32.0 Cr, +14.3% year on year. On the full year, FY26 printed ₹93.0 Cr (−7.9%), and the 10-year compound rate is −7.3%.
Why profit moved: revenue contributed +18.2% 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 −3.9% vs revenue +5.6%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
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 84% of Novartis India Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹47.0 Cr of operating cash against ₹93.0 Cr of profit. After ₹0.0 Cr of capital spending, ₹47.0 Cr was left as free cash.
FY26: operating cash of ₹47.0 Cr against reported profit of ₹93.0 Cr, leaving free cash of ₹47.0 Cr after ₹0.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 84% 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 84%: the cash cycle stretched 17 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
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).
Novartis India Ltd's cash conversion cycle runs 36 days in FY26, up from 19 days in FY21. Capital spending ran ₹−9.0 Cr over the last 3 years. At FY26 sales of ₹354 Cr each day of that cycle holds about ₹1.0 Cr, so roughly ₹35.0 Cr sits inside the business at any moment.
FY26: debtors at 38 days, inventory at 98 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 36 days, looser than FY21's 19.
The full loop: cash goes out to suppliers and production on day 0; stock waits 98 days to sell; customers pay about 38 days after that; and suppliers themselves are paid at 101 days — netting out to the 36-day cycle.
In money terms: at FY26 sales of ₹354 Cr, each day of the cycle holds about ₹1.0 Cr — so the 36-day loop keeps roughly ₹35.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹−9.0 Cr over the last 3 fiscal years against ₹7.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
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.
Novartis India Ltd earns a ROCE of 16% in FY26. That is up from a trough of 5% in FY20. Return on invested capital clears the cost of that capital by +35.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 26.3% net margin on 0.36× asset turns.
FY26 ROCE is 16%, recovered from a FY20 trough of 5% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 26.3% net margin × 0.36× asset turns × 1.20× balance-sheet leverage ≈ 11.4% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 47.0% − 12.0% = a +35.0 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. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
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.
Novartis India Ltd carries total debt of ₹3.0 Cr against shareholder equity of ₹818 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹3.0 Cr against shareholder equity of ₹818 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.00 (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.
No holder of Novartis India Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 70.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +0.8 points over 8 quarters to 1.4%; Promoters: +0.0 points over 8 quarters to 70.7%; Foreign institutions: +0.0 points over 8 quarters to 0.2%.
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.
Novartis India 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Procter & Gamble Health LtdPGHL | 75.3/100Favorable setup90% evidence | TURNING | 28.7/35 Revenue 15.6% · PAT 30.7% · OPM change 11 pp 88% evidence | 21.2/25 ROCE 83.5% · OPM 37% 100% evidence | 14.6/20 P/E 33.5× · PEG 0.5 100% evidence | 10.8/20 RS sector -2.5% · RS bench 12.6% · 1Y 13.7%11 of 11 weeks ahead 70% evidence |
| Exact sum: 28.7 + 21.2 + 14.6 + 10.8 = 75.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Sanofi Consumer Healthcare India LtdSANOFICONR | 61.2/100Mixed-positive evidence67% evidence | ASLEEP | 26.9/35 Revenue 31% · PAT 33% · OPM change 6 pp 71% evidence | 20.9/25 ROCE 89.9% · OPM 38% 76% evidence | 9.4/20 P/E 39.9× · PEG — 15% evidence | 4.0/20 RS sector -7.1% · RS bench -2.3% · 1Y -7.4%2 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 20.9 + 9.4 + 4 = 61.2 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.1% and the one-year return is -7.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 3Pfizer LtdPFIZER | 53.7/100Mixed-positive evidence100% evidence | TURNING | 19.1/35 Revenue 10.6% · PAT -9.2% · OPM change 3 pp 100% evidence | 13.8/25 ROCE 24.1% · OPM 38% 100% evidence | 18.7/20 P/E 28.7× · PEG 0.73 100% evidence | 2.1/20 RS sector -8% · RS bench -3.2% · 1Y -10.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 19.1 + 13.8 + 18.7 + 2.1 = 53.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Glaxosmithkline Pharmaceuticals LtdGLAXO | 49.0/100Mixed-negative evidence96% evidence | TURNING | 11.8/35 Revenue 1.9% · PAT 11.8% · OPM change 1 pp 88% evidence | 17.4/25 ROCE 61.4% · OPM 35% 100% evidence | 5.3/20 P/E 46.8× · PEG 6.68 100% evidence | 14.5/20 RS sector -1% · RS bench 4.2% · 1Y -15.5%1 of 12 weeks ahead 100% evidence |
| Exact sum: 11.8 + 17.4 + 5.3 + 14.5 = 49 · Decision use: Price leads the evidence: RS versus the benchmark is 4.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 5Abbott India LtdABBOTINDIA | 48.8/100Mixed-negative evidence90% evidence | TURNING | 14.9/35 Revenue 8.1% · PAT 9.7% · OPM change 1 pp 88% evidence | 15.7/25 ROCE 44.8% · OPM 28% 100% evidence | 7.9/20 P/E 38.2× · PEG 2.56 100% evidence | 10.3/20 RS sector -0.7% · RS bench -2.8% · 1Y -17.7%5 of 10 weeks ahead 70% evidence |
| Exact sum: 14.9 + 15.7 + 7.9 + 10.3 = 48.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Novartis India Ltdthis pageNOVARTIND | 46.8/100Mixed-negative evidence100% evidence | LEADER | 13.3/35 Revenue 5.4% · PAT -4.9% · OPM change 3 pp 100% evidence | 6.9/25 ROCE 16.2% · OPM 34% 100% evidence | 6.6/20 P/E 38.8× · PEG 1.96 100% evidence | 20.0/20 RS sector 42.3% · RS bench 49% · 1Y 51.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 13.3 + 6.9 + 6.6 + 20 = 46.8 · Decision use: Price leads the evidence: RS versus the benchmark is 49%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 7Astrazeneca Pharma India LtdASTRAZEN | 40.7/100Mixed-negative evidence83% evidence | ASLEEP | 17.0/35 Revenue 32.6% · PAT 63.5% · OPM change -7 pp 88% evidence | 8.6/25 ROCE 29.3% · OPM 11% 100% evidence | 4.3/20 P/E 106× · PEG 3.95 65% evidence | 10.8/20 RS sector 2.3% · RS bench -7.8% · 1Y -8.7%0 of 10 weeks ahead 70% evidence |
| Exact sum: 17 + 8.6 + 4.3 + 10.8 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Sanofi India LtdSANOFI | 49.6/100Thin evidence · provisional40% evidence | ASLEEP | 17.7/35 Revenue — · PAT — · OPM change 2 pp 5% evidence | 15.0/25 ROCE 49.2% · OPM 23% 57% evidence | 13.9/20 P/E 17.3× · PEG — 50% evidence | 3.0/20 RS sector -26.7% · RS bench -18.8% · 1Y -43.3%0 of 10 weeks ahead 70% evidence |
| Exact sum: 17.7 + 15 + 13.9 + 3 = 49.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
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 Novartis India Ltd's share price today?
Novartis India Ltd trades at ₹1,544, +59.7% over the past year. The company is valued at ₹3,795 Cr. The stock sits at 88% of its 52-week range of ₹769–₹1,647, +34.2% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 18 weeks in. — as of 31 July 2026.
What were Novartis India Ltd's latest quarterly results?
Novartis India Ltd reported revenue of ₹104 Cr and net profit of ₹32.0 Cr for the Jun 26 quarter. Revenue rose 18.2% and profit rose 14.3% year on year. Earnings per share were ₹13.05. The operating margin was 34.0%, 3.0 pp higher than a year earlier. — as of 31 July 2026.
What is Novartis India Ltd's revenue?
Novartis India Ltd reported revenue of ₹104 Cr in the Jun 26 quarter, +18.2% year on year. For the full FY26 fiscal year, revenue was ₹354 Cr (−0.6%). Over the last 10 years revenue compounded at −6.5% a year. — as of 31 July 2026.
What is Novartis India Ltd's profit?
Novartis India Ltd earned ₹32.0 Cr of net profit in the Jun 26 quarter, +14.3% year on year. Full-year FY26 profit was ₹93.0 Cr. The operating margin ran 34.0% in the latest quarter. — as of 31 July 2026.
What is Novartis India Ltd's market cap?
Novartis India Ltd's market capitalisation is ₹3,795 Cr at a share price of ₹1,544. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Novartis India Ltd's P/E ratio?
Novartis India Ltd trades at a P/E of 38.8×, at the 69th percentile of its own 10-year range, against a long-run median of 30.3×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Novartis India Ltd pay a dividend?
Not in its latest year — Novartis India Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 11 of its last 13 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.
Is Novartis India Ltd overvalued?
On its own history, Novartis India Ltd looks expensive against its own history: its P/E of 38.8× sits at the 69th percentile of its 10-year range (long-run median 30.3×). 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 31 July 2026.
Is Novartis India Ltd growing?
Yes — Novartis India Ltd is growing: latest-quarter revenue +18.2% year on year, profit +14.3%, and the margin +3.0 pp at 34.0%. The 10-year compound rates are −6.5% (revenue) and −7.3% (profit). The earnings engine currently reads: improving — as of 31 July 2026.
How is Novartis India Ltd performing?
Novartis India Ltd is in a confirmed uptrend, 18 weeks in. Its latest quarter's revenue rose 18.2% and profit rose 14.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Novartis India Ltd in?
Topping out — profit and EPS growth have decelerated hard (profit growth +45.3% at its peak → −4.9% latest) while ROCE still reads 16.0%. The read comes from the last 12 quarters of growth (revenue growth +5.4% latest, profit growth −4.9% latest, eps growth −4.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Novartis India Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 18 of stage 2), trading +34.2% versus its 200-day average and at 88% 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 31 July 2026.
Is Novartis India Ltd beating the market?
On recent form, yes — Novartis India Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +144% against the NIFTY 500's +282% — behind the index over the full window. — as of 31 July 2026.
Will Novartis India Ltd's share price go up?
This page publishes no price forecast for Novartis India Ltd. What it measures instead: the share price is ₹1,544, the price is in a confirmed uptrend 18 weeks in. Its P/E of 38.8× sits at the 69th percentile of its own 10-year range. — as of 31 July 2026.
Who owns Novartis India Ltd?
Promoters hold 70.7% of Novartis India Ltd, foreign institutions 0.2%, domestic institutions 1.4% and the public 27.8% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.
Does Novartis India Ltd have too much debt?
No — Novartis India Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 94×. FY26 borrowings were ₹3.0 Cr against equity of ₹817 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.
What is Novartis India Ltd's capex?
Novartis India Ltd spent ₹−9.0 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 ₹0.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Novartis India Ltd's cash flow?
Novartis India Ltd generated ₹47.0 Cr of operating cash flow in FY26 and ₹47.0 Cr of free cash flow after ₹0.0 Cr of capital spending. Reported profit that year was ₹93.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Novartis India Ltd's profit real cash?
Yes — over the last 3 fiscal years, 84% of Novartis India Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹47.0 Cr against reported profit of ₹93.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is Novartis India Ltd in its business cycle?
Novartis India Ltd's FY26 operating margin was 27.0%, against a 13-year band of −1.1%–27.0%: 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 34.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Novartis India Ltd story?
The sharpest disagreement: the price moved +59.7% in a year while annual EPS moved −7.7% — 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 31 July 2026.
Is Novartis India Ltd a stock worth studying right now?
This is not investment advice. The machine read: Novartis India Ltd's price has outrun its earnings. +59.7% in a year against EPS −7.7% — 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 31 July 2026.