As of 6 Nov 2026, Muller & Phipps (India) is loss-making on a trailing 12-month basis, with a net loss of ₹0.63 Cr, so it has no P/E ratio. The share price is ₹193.80, 27% below its 52-week high. Sales grew 13% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹0.75 Cr. It is a small-cap company with a market cap of ₹12 Cr, ranked 7th of 8 Pharmaceutical Retailers companies by market cap; the shares fell 24% over the past year.
- ₹190.00
- ₹193.80
- ₹187.95
- ₹187.95
- 18
Health check
- ReturnsIn line
−23.9% over a year, better than 3 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthUnder pressure
Sales +12.9% a year over 3 years, but loss-making now.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags4 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹12 Cr
- Small cap
- P/E
- n/a
- Industry 27.6
- Price to book
- −5.82
- Peers 3.47
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 10.8%
- ROCE
- 1.8%
- Peers 12.2%
- Debt to equity
- n/a
- Debt ₹0.75 Cr
- EPS (TTM)
- −₹10.10
- OPM (TTM)
- −17.2%
- Net margin −9.4%
- Sales growth
- +60.2%
- Latest quarter vs a year ago
- Profit growth
- −83.6%
- Latest quarter vs a year ago
- Price to sales
- 1.81
- EV/EBITDA −23.3
Strengths and risks
Strengths
- Quarterly sales up 60.2% on a year ago.
Risks to check
- Loss-making over the last twelve months.
- Negative net worth: liabilities exceed assets.
- Quarterly profit down 83.6% on a year ago.
- Interest coverage of only −15.3×.
About Muller & Phipps (India)
Muller & Phipps (India) Limited markets and distributes over the counter medical preparation and home care products in India. The company sells medicated dental cream, gel, and gum astringent products under the Cavisan brand; dental and skincare products under the Cavidine and Nixoderm brand name. It markets its products through a network of chemists, general stores, provisional/kirana stores, and supermarkets. The company was incorporated in 1917 and is…
- Headquarters
- Mumbai
- Sector
- Healthcare
- ISIN
- INE003F01015
- Website
- mulphico.swayantra.com
Price range
- Avg volume (3M)
- 48
- 1-year return
- minus 23.9%
- From 52-week high
- minus 26.6%
Peers · Pharmaceutical Retailers
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MEDPLUSMedplus Health Services | 604.60 | plus 0.66% | 7,260 | 34.3 | 3.47 | 12.2% | 10.8% | 4.2% | 14.7% | 64.0% | 0.00% | minus 25.7% |
| HEALTHXHealth X Platform | 272.55 | minus 0.42% | 867 | – | 1.35 | −0.2% | 0.2% | −4.4% | 8.0% | – | 0.00% | minus 8.3% |
| ONEGLOBALOne Global Service Provider | 365.45 | minus 7.66% | 714 | 9.7 | 5.06 | 65.7% | 65.3% | 19.2% | 201.8% | 269.3% | 0.23% | minus 32.0% |
| TLLTrident Lifeline | 413.75 | minus 2.07% | 495 | 21.0 | 4.22 | 21.8% | 23.6% | 22.8% | 59.7% | 46.8% | 0.24% | plus 40.8% |
| ACHYUTAchyut Healthcare | 7.76 | plus 4.86% | 187 | 776.0 | 5.45 | 1.1% | 1.0% | 2.2% | 62.6% | 10.9% | 0.00% | plus 28.7% |
| MAITRIMaitri Enterprises | 31.20 | plus 0.32% | 14 | 37.6 | 2.61 | 19.9% | 12.1% | 5.4% | 35.8% | – | 0.00% | minus 11.4% |
| MULLERMuller & Phipps (India) | 193.80 | plus 3.11% | 12 | – | −5.82 | 1.8% | – | −17.2% | 12.9% | – | 0.00% | minus 23.9% |
| DPLDipna Pharmachem | 4.31 | plus 1.65% | 11 | 10.5 | 0.18 | 5.2% | 5.2% | 21.2% | 7.7% | 2.2% | 0.00% | minus 78.4% |
| Median of 7 peers | – | 0.32% | 495 | 27.6 | 3.47 | 12.2% | 10.8% | 5.4% | 35.8% | 46.8% | 0.00% | −11.4% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 0.9 | 1.8 | 1.4 | 1.5 | 1.5 | |
| 1.3 | 1.9 | 1.8 | 1.9 | 1.7 | |
| −0.3 | −0.1 | −0.4 | −0.4 | −0.2 | |
| −37.8% | −4.0% | −30.8% | −25.7% | −12.1% | |
| 1.1 | 0.1 | 0.1 | 0.1 | 0.3 | |
| 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | |
| 0.7 | −0 | −0.4 | −0.3 | 0.1 | |
| 0.7 | −0 | −0.4 | −0.3 | 0.1 | |
| 11.16 | -0.50 | -6.18 | -5.25 | 1.83 |
Profit & loss
- Sales CAGR 3Y
- +12.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.9 | 4.1 | 5.9 | 5.6 | |
| – | +5.8% | +42.9% | minus 4.8% | |
| 3.9 | 4.2 | 6.6 | 6.9 | |
| 0 | −0 | −0.7 | −1.2 | |
| 1.2% | −0.8% | −11.3% | −21.7% | |
| 0.3 | 0.4 | 0.3 | 1.3 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 0 | 0 | 0 | 0 | |
| – | 0.4 | −0.3 | – | |
| 0.2 | 0.7 | −0.8 | −0 | |
| 0.2 | 0.7 | −0.8 | −0 | |
| – | +243.0% | minus 204.0% | – | |
| 3.40 | 11.65 | -12.11 | -0.76 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.6 | 0.6 | 0.6 | 0.6 | |
| −2.6 | −1.9 | −2.7 | −2.7 | |
| 1 | 0.8 | 0.8 | 0.8 | |
| 6 | 5.8 | 7 | 7.2 | |
| 5 | 5.3 | 5.7 | 5.9 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 3.6 | 3.6 | 3.6 | 3.6 | |
| 0.1 | 0.5 | 0.1 | 0.1 | |
| 1.3 | 1.1 | 1.9 | 2.1 | |
| 5 | 5.3 | 5.7 | 5.9 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.2 | 0.7 | −0.4 | 0.1 | |
| −0 | −0 | −0 | – | |
| −0.3 | −0.3 | 0 | −0.1 | |
| −0.1 | 0.4 | −0.4 | 0 | |
| −0 | −0 | −0 | – | |
| 0.2 | 0.7 | −0.4 | 0.1 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.