NATCO Pharma (NATCOPHARM) had a P/E of 12.7× on 6 Nov 2026, below the industry P/E of 28.7×, and the shares are 34% below their 52-week high. Sales and net profit grew 14% and 26% a year over 3 years, with ROCE of 16% and ROE of 17%. It carries very little debt, and its dividend yield is 0.7%. It is a small-cap company with a market cap of ₹15,831 Cr, ranked 29th of 154 Drug Manufacturers (Specialty & Generic) companies by market cap; the shares fell 2.8% over the past year.
- ₹799.00
- ₹821.15
- ₹795.05
- ₹796.60
- 7.1 L
Health check
- ReturnsBehind
−2.8% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 12.7 vs industry 28.7.
- GrowthStrong
Sales +14.5%, profit +25.6% a year over 3 years.
- ProfitabilityAverage
ROCE 16.1% vs peer median 17.9%.
- Balance sheetFair
Debt 0.08× equity, interest covered 58.8×, Piotroski 5 of 9.
- Red flags4 to check
Quarterly profit down 57.0% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹15,831 Cr
- Small cap
- P/E
- 12.7
- Industry 28.7
- Price to book
- 1.57
- Peers 4.99
- Dividend yield
- 0.74%
- ROE
- 16.9%
- Peers 14.7%
- ROCE
- 16.1%
- Peers 17.9%
- Debt to equity
- 0.08
- Debt ₹714 Cr
- EPS (TTM)
- ₹63.37
- Face value ₹2
- OPM (TTM)
- 30.2%
- Net margin 32.8%
- Sales growth
- −44.7%
- Latest quarter vs a year ago
- Profit growth
- −57.0%
- Latest quarter vs a year ago
- Price to sales
- 4.54
- EV/EBITDA 12.2
Strengths and risks
Strengths
- Practically debt-free.
- Net margin of 32.8%.
- P/E of 12.7 against an industry P/E of 28.7.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 57.0% on a year ago.
- Quarterly sales down 44.7% on a year ago.
- 34% below its 52-week high.
- Promoter stake down from 49.5% to 46.2%.
About NATCO Pharma
NATCO Pharma Limited, a pharmaceutical company, engages in the research and development, manufacturing, and marketing of finished dosage formulations, active pharmaceutical ingredients (APIs), and intermediates in India, the United States, and internationally. It operates through two segments: Pharmaceuticals and Agrochemicals. The company offers formulations in various therapeutic areas, including cancers of blood, liver, kidney, lung, brain, breast, and…
- Headquarters
- Hyderabad
- Employees
- 4,433
- Sector
- Healthcare
- ISIN
- INE987B01026
- Website
- natcopharma.co.in
Price range
- Avg volume (3M)
- 4.8 L
- 1-year return
- minus 2.8%
- From 52-week high
- minus 34.2%
Analyst consensus
Next results expected around 13 Nov 2026
Peers · Drug Manufacturers - Specialty & Generic
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMASun Pharmaceutical Industries | 1,860.00 | plus 1.69% | 4,46,276 | 40.7 | 4.99 | 17.9% | 13.1% | 28.2% | 10.4% | 10.6% | 0.86% | plus 8.2% |
| DIVISLABDivi's Laboratories | 10,320.50 | plus 1.78% | 2,73,977 | 93.6 | 16.35 | 19.0% | 16.2% | 34.9% | 11.0% | 12.1% | 0.29% | plus 49.0% |
| TORNTPHARMTorrent Pharmaceuticals | 4,750.00 | plus 0.85% | 1,80,675 | 80.2 | 9.83 | 9.1% | 15.7% | 33.7% | 13.3% | 20.2% | 0.80% | plus 31.7% |
| LAURUSLABSLaurus Labs | 2,340.00 | minus 0.26% | 1,26,433 | 94.4 | 20.86 | 19.5% | 24.0% | 30.4% | 3.8% | 4.0% | 0.09% | plus 138.6% |
| ZYDUSLIFEZydus Lifesciences | 1,197.90 | plus 0.41% | 1,19,491 | 28.6 | 4.29 | 19.0% | 14.7% | 26.2% | 16.5% | 37.0% | 0.08% | plus 22.8% |
| DRREDDYDr. Reddy's Laboratories | 1,373.00 | plus 0.51% | 1,14,462 | 40.9 | 2.96 | 14.2% | 7.3% | 15.9% | 11.0% | −1.7% | 0.58% | plus 13.8% |
| CIPLACipla | 1,411.00 | plus 0.49% | 1,13,993 | 39.4 | 3.22 | 14.9% | 8.3% | 17.3% | 7.2% | 11.5% | 0.92% | minus 6.6% |
| NATCOPHARMNATCO Pharma | 807.00 | plus 1.31% | 15,831 | 12.7 | 1.57 | 16.1% | 16.9% | 30.2% | 14.5% | 25.6% | 0.74% | minus 2.8% |
| Median of 7 peers | – | 0.51% | 1,26,433 | 40.9 | 4.99 | 17.9% | 14.7% | 28.2% | 11.0% | 11.5% | 0.58% | 22.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,329 | 1,363 | 647 | 739 | 735 | |
| 758 | 784 | 489 | 612 | 549 | |
| 571 | 579 | 159 | 128 | 187 | |
| 43.0% | 42.5% | 24.5% | 17.3% | 25.4% | |
| 61.7 | 100 | 58.1 | 77.8 | 59.2 | |
| 3.2 | 13.1 | 9.5 | 10.9 | 13 | |
| 57.6 | 52.4 | 46.2 | 50.4 | 47.1 | |
| 572 | 614 | 161 | 144 | 186 | |
| 16.0% | 15.6% | 12.8% | −61.9% | 34.2% | |
| 481 | 518 | 152 | 268 | 207 | |
| 26.84 | 28.94 | 8.46 | 14.96 | 11.53 |
Profit & loss
- Sales CAGR 3Y
- +14.5%
- Profit CAGR 3Y
- +25.6%
- EPS CAGR 3Y
- +26.4%
- ROE
- 16.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,697 | 3,979 | 4,412 | 4,045 | |
| – | +47.5% | +10.9% | minus 8.3% | |
| 1,743 | 2,215 | 2,195 | 2,582 | |
| 954 | 1,764 | 2,216 | 1,463 | |
| 35.4% | 44.3% | 50.2% | 36.2% | |
| 81.8 | 116 | 241 | 287 | |
| 9.5 | 12 | 17 | 25.8 | |
| 164 | 187 | 235 | 207 | |
| −0.5 | −7.5 | 86 | −26.2 | |
| 862 | 1,674 | 2,291 | 1,491 | |
| 17.0% | 17.0% | 17.8% | 8.0% | |
| 715 | 1,388 | 1,885 | 1,419 | |
| – | +94.1% | +35.8% | minus 24.8% | |
| 39.18 | 77.34 | 105.26 | 79.20 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 36.5 | 35.8 | 35.8 | 35.8 | |
| 4,837 | 5,817 | 7,571 | 9,185 | |
| 176 | 371 | 279 | 714 | |
| 608 | 682 | 744 | 1,139 | |
| 5,657 | 6,906 | 8,631 | 11,074 | |
| 2,330 | 2,504 | 2,706 | 2,909 | |
| 91.2 | 206 | 274 | 363 | |
| 87.3 | 95.9 | 154 | 273 | |
| 1,125 | 1,776 | 2,808 | 2,788 | |
| 2,024 | 2,324 | 2,689 | 4,740 | |
| 5,657 | 6,906 | 8,631 | 11,074 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 849 | 1,212 | 1,697 | 1,768 | |
| −477 | −1,033 | −1,415 | −2,082 | |
| −363 | −247 | −211 | 298 | |
| 9 | −68 | 71.6 | −15.9 | |
| −206 | −359 | −512 | −391 | |
| 644 | 853 | 1,185 | 1,377 | |
| −100 | −171 | −108 | −90.2 |
Shareholding pattern
- Promoters46.22%
- Public53.78%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 23 Oct 2026 | 46.22% | 53.78% | minus 3.17 | |
| 30 Sep 2026 | 49.39% | 50.61% | minus 0.03 | |
| 30 Jun 2026 | 49.42% | 50.58% | 0.00 | |
| 31 Mar 2026 | 49.42% | 50.58% | minus 0.06 | |
| 31 Dec 2025 | 49.48% | 50.52% | – |
Major shareholders
Filings & events
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