Sun Pharmaceutical Industries Ltd
SUNPHARMASun Pharmaceutical Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: Foreign institutions moved −2.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a confirmed uptrend (20 weeks in) while the P/E sits at the 69th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +26.5% year on year, and 120% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
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.
Sun Pharmaceutical Industries Ltd trades at ₹1,840, in a confirmed uptrend and 20 weeks into that stage. That is +0.9% against its own 200-day average. It sits at 60% of a 52-week range of ₹1,610 to ₹1,991. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).
Today the stock is in a confirmed uptrend — week 20 of stage 2, confirmed. At ₹1,840 it trades +0.9% versus its 200-day average and sits at 60% of its 52-week range (₹1,610–₹1,991).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +112% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-09-04) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Sun Pharmaceutical Industries Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: MID_EXPANSION_AT_PEAK_MARGIN. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. Sun Pharma combines India and innovative-medicines growth with Organon integration optionality, but the current read is a PEAK_MARGIN_VALUE_TRAP: normalized earnings place valuation at a 93rd-percentile PE while leverage and execution risk remain pending.
What is proven. Sun Pharma combines India and innovative-medicines growth with Organon integration optionality, but the current read is a PEAK_MARGIN_VALUE_TRAP: normalized earnings place valuation at a 93rd-percentile PE while leverage and execution risk remain pending.
What is not proven yet. A sustained return of OPM toward or below the 26.8% normalized level together with US generic deterioration and failure to complete or integrate Organon without material free-cash-flow shortfall would invalidate the operating and valuation case.
🚨 What would change our mind. A sustained return of OPM toward or below the 26.8% normalized level together with US generic deterioration and failure to complete or integrate Organon without material free-cash-flow shortfall would invalidate the operating and valuation case.
🚨 Layer 1 read, 22 August 2026 — DROP. Profit looks like it jumped 26%; the factory only grew 2.7% — the rest was an accounting swing. Sun Pharma reported June-quarter profit up 26.5% to Rs 2,901 Cr, which reads like a business accelerating. It is not. The timeline itself said it could not check whether that growth was operating or paper because its data was missing the field, so I went and pulled the quarterly accounts: profit from actual operations rose only from Rs 4,302 Cr to Rs 4,418 Cr, up 2.7%, while sales rose 10.5% — meaning the operating margin FELL from 31.1% to 28.9%. The whole headline comes from a Rs 874 Cr swing in non-operating income, and management's own call confirms the margin was lower and names a Rs 122 Cr currency gain inside it. On top of that, four of the six promises we track have been outright…
What would change Layer 1’s mind. Two consecutive quarters where operating profit grows at or above the revenue rate — putting the operating margin back at or above 31% with the non-operating line small and stable — would tell me the margin roll was a Lenalidomide-comparison artefact rather than genuine erosion, and I would move this up sharply. The sharper single test, taken from the timeline's own falsification line: operating margin sliding to or below the 26.8% normalised level while US generic sales keep falling would…
The test written in advance. A sustained return of OPM toward or below the 26.8% normalized level together with US generic deterioration and failure to complete or integrate Organon without material free-cash-flow shortfall would invalidate the operating and valuation case. — the thesis as written as stated by the next result.
The test written in advance. Post-Acquisition Balance Sheet Leverage — Post-Acquisition Balance Sheet Leverage Combined entity free cash flow and net debt in the first two quarters after closing. by the next result.
The test written in advance. Management Guidance Credibility & Strategy Contradictions — Management Guidance Credibility & Strategy Contradictions Integration-office disclosure and consistent post-close capital-allocation communication. by the next result.
What the company does. India formulations grew 16.0% year-on-year in Q1 FY27, while innovative medicines delivered US$351 million of sales and US generics declined 9.7% year-on-year. The Organon transaction adds scale, biosimilars and women's health but would raise net debt to EBITDA to 2.3x at close and requires execution against a flat established-brands base. Trailing valuation is not a margin of safety: OPM is above its normalized level, and the engine's normalized PE is 40.3x at the 93rd percentile versus trailing PE of 36.1x at the 76th percentile.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Global Innovative Specialty Portfolio Scale | HIGH | — | Innovative medicines reached US$351 million in Q1 FY27, up 12.8% year-on-year and 21.9% of consolidated sales. | Payer access or competitive entry materially reduces innovative-medicines growth while US generics continue to decline. |
| India Domestic Market Leadership & Volume… | HIGH | — | India formulations grew 16.0% year-on-year to Rs 54,749 million with 8.5% market share. | India market-share losses or growth below the industry rate persist for multiple quarters. |
| Generic Semaglutide Commercial Scaling | MEDIUM | — | Sun became the number-two generic Semaglutide injectable player in India and remains the only Indian provider of an auto-injector. | Price competition or device-component constraints prevent commercial uptake. |
| Organon Global Scale & Platform… | HIGH | — | The proposed Organon transaction would create a US$12.4 billion revenue entity and target US$350 million of cost synergies. | Closing fails, synergy realization is delayed, or established-brand revenue declines faster than planned. |
| Biosimilar Commercial Platform Expansion | MEDIUM | — | Organon provides a US$700 million biosimilar portfolio with 13% historical CAGR and an in-licensing platform. | Biosimilar reimbursement and pricing reduce net realizations faster than portfolio expansion. |
🚨 What the surface reading misses. The surface reading is: Trailing PE at 36.1x is at the 77th percentile of the weekly cycle measure and above the 31.8x median. The research reads it further: Deterministic normalization shows that peak-margin earnings reduce the apparent valuation: normalized PE is 40.3x at the 93rd percentile.
🚨 What the surface reading misses. The surface reading is: ROCE of 20.5% exceeds the stated ROE of 16.0%. The research reads it further: These returns are standalone figures; proposed Organon leverage and goodwill could alter post-close return metrics.
Lever 15 · Market-share gains — BUILDING. India formulations grew 16.0% year-on-year to Rs 54,749 million with 8.5% market share. What proves it keeps working: India Domestic Market Leadership & Volume Outperformance. It stops working if India market-share losses or growth below the industry rate persist for multiple quarters.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Sun Pharmaceutical Industries Ltd reported ₹15,300 Cr of revenue in the Jun 26 quarter, +10.5% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 7.5% a year. The last full year, FY26, came in at ₹58,462 Cr. The last four reported quarters add to ₹59,911 Cr.
Why this happened. India formulations represented 36.1% of consolidated sales in Q1 FY27. PharmaTrac growth was 30.4%; management stated volume plus new products contributed the majority and five products were launched.
FY26 revenue came in at ₹58,462 Cr (+11.2% on the year), capping 10 years at 7.5% compound. The latest quarter (Jun 26) printed ₹15,300 Cr, +10.5% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +11.4% growth against the decade's 7.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +11.4% over the last 4 quarters against +10.3%/yr over the last 8 — stabilising; TTM profit +16.5% vs +7.6%/yr — accelerating.
FY26-Q4. revenue ₹14,612 Cr and profit ₹2,710 Cr as reported.
FY27-Q1. revenue ₹15,300 Cr and profit ₹2,901 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Sun Pharmaceutical Industries Ltd's operating margin is 29.0% in the Jun 26 quarter, −2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 21.0% to 44.0%. The current quarter sits inside that band.
Why this happened. Organon contributes US$6.2 billion revenue, stable 30% EBITDA margin and approximately US$1 billion annual free cash flow before financing. Cost synergies are targeted across procurement, G&A and supply chain over two to four years, subject to closing and execution.
The latest quarter's operating margin is 29.0%, −2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 21.0%–44.0%.
🚨 Why the margin moved: operating margin went −2.2 pp year on year while gross margin went +0.9 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
FY26-Q4. revenue ₹14,612 Cr and profit ₹2,710 Cr as reported.
FY27-Q1. revenue ₹15,300 Cr and profit ₹2,901 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Sun Pharmaceutical Industries Ltd earned ₹2,901 Cr of net profit in the Jun 26 quarter, +26.5% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹11,509 Cr. The 10-year compound rate is 7.4%. That is 19.0% of the quarter's revenue. The same quarter a year earlier earned ₹2,293 Cr.
Jun 26 profit was ₹2,901 Cr, +26.5% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹11,509 Cr (+5.0%), and the 10-year compound rate is 7.4%.
Why profit moved: revenue contributed +10.5% and the margin −2.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +17.8% vs revenue +11.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹14,612 Cr and profit ₹2,710 Cr as reported.
FY27-Q1. revenue ₹15,300 Cr and profit ₹2,901 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 120% of Sun Pharmaceutical Industries Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹12,419 Cr of operating cash against ₹11,509 Cr of profit. After ₹9,582 Cr of capital spending, ₹2,837 Cr was left as free cash.
FY26: operating cash of ₹12,419 Cr against reported profit of ₹11,509 Cr, leaving free cash of ₹2,837 Cr after ₹9,582 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 120% 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 120%: the cash cycle tightened 82 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 1.8× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Sun Pharmaceutical Industries Ltd's cash conversion cycle runs 228 days in FY26, down from 310 days in FY21. Capital spending ran ₹14,906 Cr over the last 3 years. At FY26 sales of ₹58,462 Cr each day of that cycle holds about ₹160 Cr, so roughly ₹36,519 Cr sits inside the business at any moment.
Why this happened. The portfolio grew from US$400 million in 2021 to US$700 million currently. Commercial execution depends on reimbursement, interchangeability and pricing dynamics.
FY26: debtors at 97 days, inventory at 363 days — roughly 11.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 228 days, tighter than FY21's 310.
The full loop: cash goes out to suppliers and production on day 0; stock waits 363 days to sell; customers pay about 97 days after that; and suppliers themselves are paid at 232 days — netting out to the 228-day cycle.
In money terms: at FY26 sales of ₹58,462 Cr, each day of the cycle holds about ₹160 Cr — so the 228-day loop keeps roughly ₹36,519 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹14,906 Cr over the last 3 fiscal years against ₹8,070 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹3,052 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Sun Pharmaceutical Industries Ltd earns a ROCE of 21% in FY26. That is up from a trough of 10% in FY18. Return on invested capital clears the cost of that capital by +7.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 19.7% net margin on 0.54× asset turns.
FY26 ROCE is 21%, recovered from a FY18 trough of 10% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 19.7% net margin × 0.54× asset turns × 1.30× balance-sheet leverage ≈ 13.8% 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: 19.0% − 12.0% = a +7.0 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.
Sun Pharmaceutical Industries Ltd carries total debt of ₹4,627 Cr against shareholder equity of ₹83,880 Cr as of Jun 26, a debt-to-equity of 0.06 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.06 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹4,627 Cr against shareholder equity of ₹83,880 Cr — a debt-to-equity of 0.06. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.06 (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.
Domestic institutions added 2.9 points of Sun Pharmaceutical Industries Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 22.1% of the company. Foreign institutions moved −2.7 points over the same window, to 14.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +2.9 points over 8 quarters to 22.1%; Foreign institutions: −2.7 points over 8 quarters to 14.5%; Promoters: +0.0 points over 8 quarters to 54.5%.
Why the register moved: rotation — foreign institutions −2.7 points against domestic institutions +2.9 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
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.
Sun Pharmaceutical Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Sun Pharmaceutical Industries Ltd trades at 35.0× P/E, mid-range by its own standards (69th percentile). Its long-run median P/E is 30.7×, measured across 10.5 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 35.0× is mid-range by its own standards (69th percentile), against a long-run median of 30.7× measured over 10.5 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 +5.0% against a +13.8% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +18.8%/yr price move, ~+12.9%/yr came from earnings growth and ~+5.9 pp from the multiple (expanding); over 10y, of the +8.7%/yr price move, ~+5.9%/yr came from earnings growth and ~+2.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 26 August 2026 price, Sun Pharmaceutical Industries Ltd was paying for profit growth of about 21.1% a year. Profit itself has compounded 7.4% a year over the past 10 years. Today the market pays 35.0× P/E, the 69th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is far above what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 26 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Turning around 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).
Sun Pharmaceutical Industries Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −4.5% at the trough to +16.5%, a 2-quarter improving streak, ROCE holding at 20.5%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.2% | +10.0% | +11.8% | +7.5% |
| Profit | +5.0% | +10.6% | +38.3% | +7.4% |
| EPS | +5.0% | +10.6% | +31.6% | +9.7% |
| Share price | +13.8% | +17.6% | +18.8% | +8.7% |
4-Factor Sector Score
44.2/100 — rank 25 of 44 in Pharma - Formulators · 100% evidence confidence
Sun Pharmaceutical Industries Ltd scores 44.2 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 25. Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
The four contributions add to the total exactly: 16.9 + 17.3 + 4.3 + 5.7 = 44.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Sun Pharmaceutical Industries Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
M&A Strategy Pivot - From Disciplined Tuck-ins to Transformative Mega-Deal · 27 April 2026. In the Jan 2026 call, Dilip Shanghvi explicitly described Sun's M&A posture as pursuing tuck-ins or smaller acquisitions in emerging markets and stressed that acquisitions would only be considered if manageable without diluting focus on organic growth. Just three months later in the Apr 2026 call, Sun announced the acquisition of Organon at an enterprise value of $11.75 billion - a company of comparable scale to Sun itself - while accepting 2.3x net debt to EBITDA, a complete departure from the stated approach with no prior communication of any strategy pivot of this magnitude.
Biosimilar Strategy Reversal - From Cautious Evaluation to Active Platform Build · 27 April 2026. In both the Nov 2025 and Jan 2026 calls, management consistently characterized its biosimilar posture as evaluating and waiting for regulatory clarity before making any entry decision, citing concerns about manufacturing investment economics and development timelines. In the Apr 2026 call, Sun acquired Organon's approximately $700 million biosimilar business growing at 13% annually and committed to actively in-licensing additional biosimilar products to accelerate growth further, representing a decisive entry that directly contradicts the prior stance of unresolved evaluation.
Dividend Policy - From Active Increase to Declared Uncertainty · 27 April 2026. In the Jan 2026 call, the Board declared an increased interim dividend of Rs.11 per share for FY26, up from Rs.10.5 the prior year, projecting a clear upward dividend trajectory for shareholders. In the Apr 2026 call, Dilip Shanghvi stated the company had not fully reflected on future dividend payments following the Organon acquisition, offering only conditional language about intent without any specific commitment, a shift that would materially affect income-oriented investors and any valuation model anchored to dividend continuity.
US Generic Growth Narrative · 31 January 2026. In the July 2025 call, management downplayed the impact of regulatory issues, stating they could leverage their existing portfolio and other sites to 'offset' headwinds and grow the US generic business. However, in the January 2026 call, management pivoted to stating that the generic business will only start to recover 'once' they achieve manufacturing compliance to launch new products, contradicting the earlier assertion that growth was achievable via the current portfolio despite these constraints. Earlier call (July 2025): “We obviously have other sites... and we have an existing portfolio that we can look to grow to offset any headwinds we face for our new products.” Later call (Jan 2026): “The generic business will start to recover once we are in manufacturing compliance for a number of our sites in order to launch new products.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Kwality Pharmaceuticals Ltd539997 | 73.7/100Favorable setup82% evidence | LEADER | 31.1/35 Revenue 37.9% · PAT 88.4% · OPM change 3 pp 95% evidence | 17.8/25 ROCE 24.1% · OPM 25% 76% evidence | 6.2/20 P/E 46.3× · PEG — 50% evidence | 18.6/20 RS sector 72.7% · RS bench 113.3% · 1Y 288.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 31.1 + 17.8 + 6.2 + 18.6 = 73.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Glenmark Pharmaceuticals LtdGLENMARK | 71.1/100Favorable setup100% evidence | TURNING | 30.8/35 Revenue 32.9% · PAT 100% · OPM change 2 pp 100% evidence | 18.2/25 ROCE 39.8% · OPM 20% 100% evidence | 12.4/20 P/E 21.9× · PEG 1.43 100% evidence | 9.7/20 RS sector -11.1% · RS bench 15.2% · 1Y 17.9%3 of 12 weeks ahead 100% evidence |
| Exact sum: 30.8 + 18.2 + 12.4 + 9.7 = 71.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Bliss GVS Pharma LtdBLISSGVS | 69.5/100Favorable setup82% evidence | LEADER | 29.0/35 Revenue 20.6% · PAT 25.7% · OPM change 7 pp 95% evidence | 14.8/25 ROCE 16.9% · OPM 27% 76% evidence | 6.0/20 P/E 55.7× · PEG — 50% evidence | 19.7/20 RS sector 102.4% · RS bench 147.9% · 1Y 362.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 29 + 14.8 + 6 + 19.7 = 69.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Ipca Laboratories LtdIPCALAB | 67.9/100Favorable setup82% evidence | BREAKING OUT | 26.3/35 Revenue 10.6% · PAT 68% · OPM change 6 pp 95% evidence | 15.8/25 ROCE 17% · OPM 24% 76% evidence | 11.0/20 P/E 36.4× · PEG — 50% evidence | 14.8/20 RS sector -0.6% · RS bench 28.3% · 1Y 47.5%10 of 12 weeks ahead 100% evidence |
| Exact sum: 26.3 + 15.8 + 11 + 14.8 = 67.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Lupin LtdLUPIN | 66.8/100Favorable setup93% evidence | ASLEEP | 29.6/35 Revenue 28.2% · PAT 49.2% · OPM change 2 pp 100% evidence | 19.3/25 ROCE 29.9% · OPM 30% 100% evidence | 16.3/20 P/E 16.1× · PEG 0.54 65% evidence | 1.6/20 RS sector -26.2% · RS bench -4% · 1Y 7.8%0 of 12 weeks ahead 100% evidence |
| Exact sum: 29.6 + 19.3 + 16.3 + 1.6 = 66.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -26.2% and the one-year return is 7.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 6Emcure Pharmaceuticals LtdEMCURE | 66.3/100Favorable setup75% evidence | LEADER | 27.3/35 Revenue 18.4% · PAT 32.2% · OPM change 1 pp 95% evidence | 18.2/25 ROCE 24% · OPM 21% 76% evidence | 9.9/20 P/E 36.4× · PEG — 15% evidence | 10.9/20 RS sector -2.5% · RS bench 25.5% · 1Y 44.2%10 of 12 weeks ahead 100% evidence |
| Exact sum: 27.3 + 18.2 + 9.9 + 10.9 = 66.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Corona Remedies LtdCORONA | 65.2/100Favorable setup73% evidence | BREAKING OUT | 23.0/35 Revenue 18% · PAT 19.3% · OPM change 2 pp 100% evidence | 20.4/25 ROCE 33.3% · OPM 22% 100% evidence | 11.8/20 P/E 64.4× · PEG 1.18 65% evidence | 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence |
| Exact sum: 23 + 20.4 + 11.8 + 10 = 65.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Fredun Pharmaceuticals LtdFREDUN | 64.9/100Mixed-positive evidence74% evidence | 26.7/35 Revenue 91.5% · PAT 100% · OPM change 0 pp 95% evidence | 13.0/25 ROCE 21.3% · OPM 14% 95% evidence | 9.3/20 P/E 53.3× · PEG — 15% evidence | 15.9/20 RS sector 24.1% · RS bench 96.2% · 1Y 9.2%4 of 12 weeks ahead 70% evidence | |
| Exact sum: 26.7 + 13 + 9.3 + 15.9 = 64.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Accent Microcell LtdACCENTMIC | 64.5/100Mixed-positive evidence63% evidence | LEADER | 17.5/35 Revenue — · PAT — · OPM change -1 pp 26% evidence | 18.9/25 ROCE 24.9% · OPM 16% 95% evidence | 8.7/20 P/E 39.7× · PEG — 50% evidence | 19.4/20 RS sector 44.8% · RS bench 83.4% · 1Y 160.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 18.9 + 8.7 + 19.4 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Caplin Point Laboratories LtdCAPLIPOINT | 61.8/100Mixed-positive evidence100% evidence | LEADER | 19.0/35 Revenue 15% · PAT 19.6% · OPM change 0 pp 100% evidence | 17.7/25 ROCE 24.2% · OPM 35% 100% evidence | 9.4/20 P/E 31.5× · PEG 1.52 100% evidence | 15.7/20 RS sector 5.8% · RS bench 36.1% · 1Y 28.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19 + 17.7 + 9.4 + 15.7 = 61.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Rubicon Research LtdRUBICON | 57.6/100Mixed-positive evidence73% evidence | BREAKING OUT | 24.1/35 Revenue 46.8% · PAT 91.4% · OPM change 2 pp 100% evidence | 17.9/25 ROCE 28.4% · OPM 24% 100% evidence | 5.6/20 P/E 105× · PEG 2.63 65% evidence | 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence |
| Exact sum: 24.1 + 17.9 + 5.6 + 10 = 57.6 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 12Marksans Pharma LtdMARKSANS | 57.4/100Mixed-positive evidence87% evidence | BREAKING OUT | 25.8/35 Revenue 19.6% · PAT 48% · OPM change 9 pp 100% evidence | 15.8/25 ROCE 18.8% · OPM 25% 100% evidence | 6.3/20 P/E 28.9× · PEG 2.85 65% evidence | 9.5/20 RS sector -18.1% · RS bench 58.3% · 1Y 95%11 of 11 weeks ahead 70% evidence |
| Exact sum: 25.8 + 15.8 + 6.3 + 9.5 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Ajanta Pharma LtdAJANTPHARM | 56.3/100Mixed-positive evidence100% evidence | BREAKING OUT | 21.3/35 Revenue 20.2% · PAT 22.2% · OPM change -1 pp 100% evidence | 19.6/25 ROCE 34.5% · OPM 26% 100% evidence | 5.5/20 P/E 38.9× · PEG 2.31 100% evidence | 9.9/20 RS sector -5.3% · RS bench 22.1% · 1Y 35.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 21.3 + 19.6 + 5.5 + 9.9 = 56.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 14Strides Pharma Science LtdSTAR | 55.9/100Mixed-positive evidence75% evidence | TURNING | 20.6/35 Revenue 8.1% · PAT 79.1% · OPM change -1 pp 95% evidence | 13.3/25 ROCE 18.3% · OPM 18% 76% evidence | 11.2/20 P/E 18.8× · PEG — 15% evidence | 10.8/20 RS sector -4.1% · RS bench 24% · 1Y 32.9%4 of 12 weeks ahead 100% evidence |
| Exact sum: 20.6 + 13.3 + 11.2 + 10.8 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Wockhardt LtdWOCKPHARMA | 54.3/100Mixed-positive evidence74% evidence | TURNING | 24.9/35 Revenue 18.4% · PAT 100% · OPM change 11 pp 74% evidence | 5.3/25 ROCE 7.5% · OPM 21% 100% evidence | 8.8/20 P/E 88.8× · PEG — 15% evidence | 15.3/20 RS sector 10.9% · RS bench 42% · 1Y 47.4%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24.9 + 5.3 + 8.8 + 15.3 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16RPG Life Sciences LtdRPGLIFE | 52.6/100Mixed-positive evidence93% evidence | LEADER | 11.9/35 Revenue 11.9% · PAT -34.1% · OPM change 1 pp 100% evidence | 17.5/25 ROCE 25.7% · OPM 22% 100% evidence | 11.1/20 P/E 38.2× · PEG 1.43 65% evidence | 12.1/20 RS sector -8.1% · RS bench 19.1% · 1Y 13.5%11 of 12 weeks ahead 100% evidence |
| Exact sum: 11.9 + 17.5 + 11.1 + 12.1 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17ERIS Lifesciences LtdERIS | 52.6/100Mixed-positive evidence76% evidence | BASING | 20.4/35 Revenue 9.6% · PAT 62.2% · OPM change -2 pp 95% evidence | 14.3/25 ROCE 14.1% · OPM 34% 76% evidence | 11.9/20 P/E 28.6× · PEG — 50% evidence | 6.0/20 RS sector -13.8% · RS bench -5% · 1Y -21.6%0 of 10 weeks ahead 70% evidence |
| Exact sum: 20.4 + 14.3 + 11.9 + 6 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Akums Drugs & Pharmaceuticals LtdAKUMS | 51.3/100Mixed-positive evidence75% evidence | LEADER | 13.2/35 Revenue 9.2% · PAT -15.8% · OPM change 2 pp 95% evidence | 10.9/25 ROCE 14.9% · OPM 15% 76% evidence | 9.6/20 P/E 40× · PEG — 15% evidence | 17.6/20 RS sector 15.9% · RS bench 48% · 1Y 68.7%12 of 12 weeks ahead 100% evidence |
| Exact sum: 13.2 + 10.9 + 9.6 + 17.6 = 51.3 · Decision use: Price leads the evidence: RS versus the benchmark is 48%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 19Suven Life Sciences LtdSUVEN | 51.0/100Mixed-positive evidence67% evidence | LEADER | 19.8/35 Revenue 25% · PAT -80% · OPM change -997 pp 74% evidence | 2.2/25 ROCE -79.5% · OPM — 84% evidence | 10.0/20 P/E — · PEG — 0% evidence | 19.0/20 RS sector 29.3% · RS bench 63% · 1Y 60%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.8 + 2.2 + 10 + 19 = 51 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Zydus Lifesciences LtdZYDUSLIFE | 49.3/100Mixed-negative evidence100% evidence | FADING | 11.9/35 Revenue 21.1% · PAT -2.5% · OPM change -8 pp 100% evidence | 16.7/25 ROCE 21.1% · OPM 24% 100% evidence | 13.7/20 P/E 22.9× · PEG 1.23 100% evidence | 7.0/20 RS sector -11.7% · RS bench 14.3% · 1Y 10.4%9 of 12 weeks ahead 100% evidence |
| Exact sum: 11.9 + 16.7 + 13.7 + 7 = 49.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 21J B Chemicals & Pharmaceuticals LtdJBCHEPHARM | 47.1/100Mixed-negative evidence96% evidence | 10.6/35 Revenue 5.9% · PAT 7.4% · OPM change -2 pp 88% evidence | 20.6/25 ROCE 25.4% · OPM 22% 100% evidence | 3.9/20 P/E 53.8× · PEG 2.34 100% evidence | 12.0/20 RS sector -0.3% · RS bench 23.5% · 1Y 40.2%3 of 4 weeks ahead to 2026-07-19 100% evidence | |
| Exact sum: 10.6 + 20.6 + 3.9 + 12 = 47.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 22Lincoln Pharmaceuticals LtdLINCOLN | 46.8/100Mixed-negative evidence87% evidence | ASLEEP | 15.1/35 Revenue 10% · PAT 11.5% · OPM change 0 pp 95% evidence | 15.3/25 ROCE 16.3% · OPM 15% 95% evidence | 10.8/20 P/E 13× · PEG — 50% evidence | 5.6/20 RS sector -15.1% · RS bench 9.9% · 1Y 11.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 15.1 + 15.3 + 10.8 + 5.6 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Alkem Laboratories LtdALKEM | 45.1/100Mixed-negative evidence82% evidence | ASLEEP | 14.6/35 Revenue 13.4% · PAT -5.5% · OPM change -2 pp 95% evidence | 17.4/25 ROCE 21.2% · OPM 20% 76% evidence | 11.6/20 P/E 26.8× · PEG — 50% evidence | 1.5/20 RS sector -28.5% · RS bench -6.5% · 1Y -4.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 14.6 + 17.4 + 11.6 + 1.5 = 45.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Aurobindo Pharma LtdAUROPHARMA | 44.8/100Mixed-negative evidence100% evidence | LEADER | 16.5/35 Revenue 9.1% · PAT 9.5% · OPM change 1 pp 100% evidence | 12.3/25 ROCE 12.9% · OPM 21% 100% evidence | 4.8/20 P/E 25.6× · PEG 2.67 100% evidence | 11.2/20 RS sector -1.3% · RS bench 26.9% · 1Y 60.9%10 of 12 weeks ahead 100% evidence |
| Exact sum: 16.5 + 12.3 + 4.8 + 11.2 = 44.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25Sun Pharmaceutical Industries Ltdthis pageSUNPHARMA | 44.2/100Mixed-negative evidence100% evidence | TURNING | 16.9/35 Revenue 11.4% · PAT 16.5% · OPM change -2 pp 100% evidence | 17.3/25 ROCE 20.5% · OPM 29% 100% evidence | 4.3/20 P/E 35× · PEG 3.8 100% evidence | 5.7/20 RS sector -19.4% · RS bench 4.7% · 1Y 15.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 16.9 + 17.3 + 4.3 + 5.7 = 44.2 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 26Kilitch Drugs (India) LtdKILITCH | 44.1/100Mixed-negative evidence87% evidence | FADING | 13.9/35 Revenue 14% · PAT 9.3% · OPM change -1 pp 95% evidence | 9.2/25 ROCE 13.4% · OPM 6.5% 95% evidence | 14.2/20 P/E 21.6× · PEG — 50% evidence | 6.8/20 RS sector -15.6% · RS bench 10% · 1Y 0.6%8 of 12 weeks ahead 100% evidence |
| Exact sum: 13.9 + 9.2 + 14.2 + 6.8 = 44.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 27Gufic BioSciences LtdGUFICBIO | 44.0/100Mixed-negative evidence94% evidence | BREAKING OUT | 23.1/35 Revenue 16.6% · PAT 17.7% · OPM change 3 pp 100% evidence | 9.8/25 ROCE 12.3% · OPM 18% 100% evidence | 2.3/20 P/E 58× · PEG 4.78 100% evidence | 8.8/20 RS sector -18.4% · RS bench 26.1% · 1Y 19.2%11 of 11 weeks ahead 70% evidence |
| Exact sum: 23.1 + 9.8 + 2.3 + 8.8 = 44 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 28Alembic Pharmaceuticals LtdAPLLTD | 43.7/100Mixed-negative evidence94% evidence | BREAKING OUT | 16.4/35 Revenue 14.1% · PAT 14.6% · OPM change -1 pp 100% evidence | 8.4/25 ROCE 12.6% · OPM 15% 100% evidence | 12.5/20 P/E 21.4× · PEG 1.74 100% evidence | 6.4/20 RS sector -24.1% · RS bench 1.5% · 1Y -14.3%4 of 11 weeks ahead 70% evidence |
| Exact sum: 16.4 + 8.4 + 12.5 + 6.4 = 43.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 29Amrutanjan Health Care LtdAMRUTANJAN | 43.2/100Mixed-negative evidence87% evidence | BASING | 13.2/35 Revenue 10.7% · PAT -1.1% · OPM change -2.9 pp 95% evidence | 14.9/25 ROCE 24.8% · OPM 6.1% 95% evidence | 14.3/20 P/E 22.8× · PEG — 50% evidence | 0.8/20 RS sector -37.2% · RS bench -17% · 1Y -36.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 13.2 + 14.9 + 14.3 + 0.8 = 43.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 30Mankind Pharma LtdMANKIND | 42.9/100Mixed-negative evidence100% evidence | BASING | 16.8/35 Revenue 14.2% · PAT 8% · OPM change 2 pp 100% evidence | 13.8/25 ROCE 13.5% · OPM 26% 100% evidence | 8.2/20 P/E 44.2× · PEG 2.81 100% evidence | 4.1/20 RS sector -22.9% · RS bench 0.4% · 1Y -10.6%6 of 12 weeks ahead 100% evidence |
| Exact sum: 16.8 + 13.8 + 8.2 + 4.1 = 42.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 31FDC LtdFDC | 41.9/100Mixed-negative evidence94% evidence | ASLEEP | 12.8/35 Revenue 3.5% · PAT 8.2% · OPM change -1 pp 100% evidence | 12.9/25 ROCE 15.4% · OPM 21% 100% evidence | 11.9/20 P/E 18× · PEG 2 100% evidence | 4.3/20 RS sector -25.1% · RS bench -11.7% · 1Y -27.5%4 of 10 weeks ahead 70% evidence |
| Exact sum: 12.8 + 12.9 + 11.9 + 4.3 = 41.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 32Indoco Remedies LtdINDOCO | 40.7/100Thin evidence · provisional58% evidence | TURNING | 20.2/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 71% evidence | 4.4/25 ROCE 1% · OPM 9% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 6.1/20 RS sector -32.2% · RS bench 14.2% · 1Y -3.8%7 of 10 weeks ahead 70% evidence |
| Exact sum: 20.2 + 4.4 + 10 + 6.1 = 40.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 33Zim Laboratories LtdZIMLAB | 39.9/100Mixed-negative evidence79% evidence | LEADER | 9.6/35 Revenue 7.5% · PAT -60.6% · OPM change -3.3 pp 71% evidence | 6.1/25 ROCE 4.8% · OPM 2.6% 95% evidence | 5.8/20 P/E 202× · PEG — 50% evidence | 18.4/20 RS sector 25.7% · RS bench 59.5% · 1Y 87.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 9.6 + 6.1 + 5.8 + 18.4 = 39.9 · Decision use: Price leads the evidence: RS versus the benchmark is 59.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 34Torrent Pharmaceuticals LtdTORNTPHARM | 39.8/100Mixed-negative evidence100% evidence | BREAKING OUT | 16.6/35 Revenue 32.9% · PAT 7.7% · OPM change 2 pp 100% evidence | 14.2/25 ROCE 15.2% · OPM 34% 100% evidence | 0.8/20 P/E 84.6× · PEG 5.11 100% evidence | 8.2/20 RS sector -7.4% · RS bench 19.5% · 1Y 39%10 of 12 weeks ahead 100% evidence |
| Exact sum: 16.6 + 14.2 + 0.8 + 8.2 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 35Bafna Pharmaceuticals LtdBAFNAPH | 39.8/100Mixed-negative evidence60% evidence | TURNING | 11.5/35 Revenue -3.1% · PAT -5.8% · OPM change -11.3 pp 95% evidence | 7.3/25 ROCE 11.9% · OPM 3.4% 76% evidence | 8.7/20 P/E 91.5× · PEG — 15% evidence | 12.3/20 RS sector — · RS bench 84.4% · 1Y —3 of 3 weeks ahead 25% evidence |
| Exact sum: 11.5 + 7.3 + 8.7 + 12.3 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 36Bajaj Healthcare LtdBAJAJHCARE | 37.8/100Mixed-negative evidence87% evidence | BREAKING OUT | 9.8/35 Revenue 12.3% · PAT -59.1% · OPM change 1 pp 95% evidence | 10.3/25 ROCE 11.5% · OPM 17% 95% evidence | 11.9/20 P/E 20× · PEG — 50% evidence | 5.8/20 RS sector -29.8% · RS bench -7.1% · 1Y -22.5%5 of 12 weeks ahead 100% evidence |
| Exact sum: 9.8 + 10.3 + 11.9 + 5.8 = 37.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 37Natco Pharma LtdNATCOPHARM | 37.3/100Mixed-negative evidence100% evidence | ASLEEP | 3.0/35 Revenue -20.8% · PAT -32.5% · OPM change -18 pp 100% evidence | 14.1/25 ROCE 17.4% · OPM 25% 100% evidence | 19.1/20 P/E 12.8× · PEG 0.76 100% evidence | 1.1/20 RS sector -31.6% · RS bench -10.9% · 1Y -4.4%0 of 12 weeks ahead 100% evidence |
| Exact sum: 3 + 14.1 + 19.1 + 1.1 = 37.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 38Biocon LtdBIOCON | 36.2/100Mixed-negative evidence100% evidence | ASLEEP | 13.3/35 Revenue 9.8% · PAT -36.4% · OPM change 1 pp 100% evidence | 7.7/25 ROCE 3.6% · OPM 20% 100% evidence | 11.5/20 P/E 87.5× · PEG 0.82 100% evidence | 3.7/20 RS sector -22.1% · RS bench 1.3% · 1Y 7.4%6 of 12 weeks ahead 100% evidence |
| Exact sum: 13.3 + 7.7 + 11.5 + 3.7 = 36.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 39Bharat Parenterals LtdBPLPHARMA | 35.8/100Thin evidence · provisional58% evidence | 12.3/35 Revenue -11.2% · PAT 16% · OPM change -2.8 pp 71% evidence | 4.1/25 ROCE -1.9% · OPM 9.1% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 9.4/20 RS sector -12.8% · RS bench 24.2% · 1Y 10.6%1 of 12 weeks ahead 70% evidence | |
| Exact sum: 12.3 + 4.1 + 10 + 9.4 = 35.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 40Cipla LtdCIPLA | 32.6/100Adverse evidence100% evidence | BASING | 4.6/35 Revenue 1.8% · PAT -37.7% · OPM change -9 pp 100% evidence | 12.3/25 ROCE 15.5% · OPM 17% 100% evidence | 12.0/20 P/E 30.8× · PEG 1.25 100% evidence | 3.7/20 RS sector -25.3% · RS bench -2.3% · 1Y -12.1%5 of 12 weeks ahead 100% evidence |
| Exact sum: 4.6 + 12.3 + 12 + 3.7 = 32.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 41Dr Reddys Laboratories LtdDRREDDY | 30.1/100Adverse evidence100% evidence | BASING | 3.7/35 Revenue -0.9% · PAT -44.6% · OPM change -14 pp 100% evidence | 11.7/25 ROCE 13% · OPM 11% 100% evidence | 13.3/20 P/E 30.2× · PEG 1.15 100% evidence | 1.4/20 RS sector -28% · RS bench -5.9% · 1Y -8.1%1 of 12 weeks ahead 100% evidence |
| Exact sum: 3.7 + 11.7 + 13.3 + 1.4 = 30.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 42Influx Healthtech LtdINFLUX | 59.8/100Thin evidence · provisional50% evidence | TURNING | 19.3/35 Revenue — · PAT — · OPM change -1 pp 26% evidence | 20.8/25 ROCE 40% · OPM 19% 95% evidence | 10.3/20 P/E 30.5× · PEG — 15% evidence | 9.4/20 RS sector -9.8% · RS bench 16% · 1Y 43.4%10 of 12 weeks ahead 70% evidence |
| Exact sum: 19.3 + 20.8 + 10.3 + 9.4 = 59.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 43Syncom Healthcare LtdSYNCOM | 49.7/100Thin evidence · provisional31% evidence | 17.1/35 Revenue -69.4% · PAT 63.5% · OPM change — 16% evidence | 6.9/25 ROCE -20.2% · OPM -225.7% 46% evidence | 10.0/20 P/E — · PEG — 0% evidence | 15.7/20 RS sector 29.1% · RS bench 45.7% · 1Y —9 of 12 weeks ahead to 2021-06-30 70% evidence | |
| Exact sum: 17.1 + 6.9 + 10 + 15.7 = 49.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 44Sai Parenterals LtdSAIPARENT | 37.4/100Thin evidence · provisional38% evidence | ASLEEP | 13.7/35 Revenue — · PAT — · OPM change -1 pp 32% evidence | 5.1/25 ROCE 5.3% · OPM 13.2% 95% evidence | 8.6/20 P/E 111× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —6 of 9 weeks ahead 0% evidence |
| Exact sum: 13.7 + 5.1 + 8.6 + 10 = 37.4 · 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 Sun Pharmaceutical Industries Ltd's share price today?
Sun Pharmaceutical Industries Ltd trades at ₹1,840, +13.8% over the past year. The company is valued at ₹4,41,478 Cr. The stock sits at 60% of its 52-week range of ₹1,610–₹1,991, +0.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 20 weeks in. — as of 11 September 2026.
What were Sun Pharmaceutical Industries Ltd's latest quarterly results?
Sun Pharmaceutical Industries Ltd reported revenue of ₹15,300 Cr and net profit of ₹2,901 Cr for the Jun 26 quarter. Revenue rose 10.5% and profit rose 26.5% year on year. Earnings per share were ₹12.06. The operating margin was 29.0%, 2.0 pp lower than a year earlier. — as of 11 September 2026.
What is Sun Pharmaceutical Industries Ltd's revenue?
Sun Pharmaceutical Industries Ltd reported revenue of ₹15,300 Cr in the Jun 26 quarter, +10.5% year on year. For the full FY26 fiscal year, revenue was ₹58,462 Cr (+11.2%). Over the last 10 years revenue compounded at 7.5% a year. — as of 11 September 2026.
What is Sun Pharmaceutical Industries Ltd's profit?
Sun Pharmaceutical Industries Ltd earned ₹2,901 Cr of net profit in the Jun 26 quarter, +26.5% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹11,509 Cr. The operating margin ran 29.0% in the latest quarter. — as of 11 September 2026.
What is Sun Pharmaceutical Industries Ltd's market cap?
Sun Pharmaceutical Industries Ltd's market capitalisation is ₹4,41,478 Cr at a share price of ₹1,840. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Sun Pharmaceutical Industries Ltd's P/E ratio?
Sun Pharmaceutical Industries Ltd trades at a P/E of 35.0×, at the 69th percentile of its own 11-year range, against a long-run median of 30.7×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Sun Pharmaceutical Industries Ltd pay a dividend?
Yes — Sun Pharmaceutical Industries Ltd's dividend payout was 33% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Sun Pharmaceutical Industries Ltd overvalued?
On its own history, Sun Pharmaceutical Industries Ltd looks expensive: its P/E of 35.0× sits at the 69th percentile of its 11-year range (long-run median 30.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Sun Pharmaceutical Industries Ltd growing?
Yes — Sun Pharmaceutical Industries Ltd is growing: latest-quarter revenue +10.5% year on year, profit +26.5%, and the margin −2.0 pp at 29.0%. The 10-year compound rates are 7.5% (revenue) and 7.4% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Sun Pharmaceutical Industries Ltd performing?
Sun Pharmaceutical Industries Ltd is in a confirmed uptrend, 20 weeks in. Its latest quarter's revenue rose 10.5% and profit rose 26.5% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Sun Pharmaceutical Industries Ltd in?
Turning around — profit growth swung from −4.5% at the trough to +16.5%, a 2-quarter improving streak, ROCE holding at 20.5%. The read comes from the last 12 quarters of growth (revenue growth +11.4% latest, profit growth +16.5% latest, eps growth +16.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Sun Pharmaceutical Industries Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 20 of stage 2), trading +0.9% versus its 200-day average and at 60% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Sun Pharmaceutical Industries Ltd beating the market?
Not lately — on a trailing-13-week view Sun Pharmaceutical Industries Ltd is currently behind the NIFTY 500 (1 week and counting; last ahead the week of 2026-09-04), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +112% against the NIFTY 500's +267% — behind the index over the full window. — as of 11 September 2026.
Will Sun Pharmaceutical Industries Ltd's share price go up?
This page publishes no price forecast for Sun Pharmaceutical Industries Ltd. What it measures instead: the share price is ₹1,840, the price is in a confirmed uptrend 20 weeks in. Its P/E of 35.0× sits at the 69th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Sun Pharmaceutical Industries Ltd?
Promoters hold 54.5% of Sun Pharmaceutical Industries Ltd, foreign institutions 14.5%, domestic institutions 22.1% and the public 8.8% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 2.9 points over 8 quarters. — as of 11 September 2026.
Does Sun Pharmaceutical Industries Ltd have too much debt?
No — Sun Pharmaceutical Industries Ltd's debt-to-equity is 0.06, and operating profit covers the interest bill 49×. FY26 borrowings were ₹4,627 Cr against equity of ₹83,570 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Sun Pharmaceutical Industries Ltd's capex?
Sun Pharmaceutical Industries Ltd spent ₹14,906 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 ₹9,582 Cr, with ₹3,052 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Sun Pharmaceutical Industries Ltd's cash flow?
Sun Pharmaceutical Industries Ltd generated ₹12,419 Cr of operating cash flow in FY26 and ₹2,837 Cr of free cash flow after ₹9,582 Cr of capital spending. Reported profit that year was ₹11,509 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Sun Pharmaceutical Industries Ltd's profit real cash?
Yes — over the last 3 fiscal years, 120% of Sun Pharmaceutical Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹12,419 Cr against reported profit of ₹11,509 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Sun Pharmaceutical Industries Ltd in its business cycle?
Sun Pharmaceutical Industries Ltd's FY26 operating margin was 28.0%, against a 13-year band of 21.0%–44.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 29.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Sun Pharmaceutical Industries Ltd's price assume?
At its price on 26 August 2026, Sun Pharmaceutical Industries Ltd was priced for profit growth of about 21.1% a year. Profit itself has compounded 7.4% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Sun Pharmaceutical Industries Ltd story?
The sharpest disagreement: Foreign institutions moved −2.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Sun Pharmaceutical Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Sun Pharmaceutical Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!