On 6 Nov 2026, Sun Pharma Advanced Research Company was priced at ₹193.52, or 3.8× trailing earnings, against an industry P/E of 28.7×, and the shares are 33% below their 52-week high. Sales fell 45% a year over 3 years; its ROCE of 112% is the highest among the 7 largest Drug Manufacturers (Specialty & Generic) peers. Debt is 0.42× equity. It is a small-cap company with a market cap of ₹6,280 Cr, ranked 40th of 154 Drug Manufacturers (Specialty & Generic) companies by market cap; the shares rose 44% over the past year.
- ₹195.00
- ₹196.72
- ₹189.85
- ₹196.16
- 8.7 L
Health check
- ReturnsAhead
+43.6% over a year, better than 5 of 7 peers.
- Price tagCheaper
P/E 3.8 vs industry 28.7.
- GrowthShrinking
Sales −45.3% a year over 3 years.
- ProfitabilityStrong
ROCE 111.8% vs peer median 17.9%.
- Balance sheetSolid
Debt 0.42× equity, interest covered 50.2×, Piotroski 6 of 9.
- Red flags1 to check
33% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹6,280 Cr
- Small cap
- P/E
- 3.8
- Industry 28.7
- Price to book
- 4.69
- Peers 4.99
- Dividend yield
- 0.00%
- ROE
- 276.9%
- Peers 14.7%
- ROCE
- 111.8%
- Peers 17.9%
- Debt to equity
- 0.42
- Debt ₹559 Cr
- EPS (TTM)
- ₹50.40
- Face value ₹1
- OPM (TTM)
- 84.7%
- Net margin 83.0%
- Sales growth
- +282.1%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 3.29
- EV/EBITDA 3.9
Strengths and risks
Strengths
- Return on equity of 276.9%.
- Return on capital employed of 111.8%.
- Quarterly sales up 282.1% on a year ago.
- Net margin of 83.0%.
- P/E of 3.8 against an industry P/E of 28.7.
Risks to check
- 33% below its 52-week high.
About Sun Pharma Advanced Research Company
Sun Pharma Advanced Research Company Limited engages in the research and development of pharmaceutical products in India and internationally. It develops Sezaby, a benzyl alcohol and propylene glycol free formulation of phenobarbital sodium injection for the treatment of neonatal seizures; SPARC-121, a novel topical agent for the treatment of Alopecia Areata; and SPARC-122, an anti-MUC1 ADC for treatment of multiple cancer indications. The company is also…
- Headquarters
- Mumbai
- Employees
- 279
- Sector
- Healthcare
- ISIN
- INE232I01014
- Website
- sparc.life
Price range
- Avg volume (3M)
- 9.1 L
- 1-year return
- plus 43.6%
- From 52-week high
- minus 33.0%
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% |
| SPARCSun Pharma Advanced Research Company | 193.52 | minus 1.35% | 6,280 | 3.8 | 4.69 | 111.8% | 276.9% | 84.7% | −45.3% | – | 0.00% | plus 43.6% |
| 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 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 7.9 | 8.5 | 1,853 | 39.9 | 30 | |
| 73.6 | 65.1 | 80 | 73.9 | 75.6 | |
| −65.7 | −56.6 | 1,773 | −34 | −45.6 | |
| −836.1% | −670.3% | 95.7% | −85.2% | −151.9% | |
| 0 | 0 | 1.8 | 23.7 | 23.6 | |
| 7.5 | 8.8 | 11.6 | 8.1 | 0.1 | |
| 2.6 | 2.6 | 2.4 | 2.2 | 2.2 | |
| – | −12.4 | – | – | – | |
| −75.8 | −80.4 | 1,761 | −20.7 | −24.3 | |
| −0.1% | −0.1% | 0.0% | −0.5% | −0.3% | |
| −75.9 | −80.4 | 1,761 | −20.8 | −24.4 | |
| -2.34 | -2.48 | 54.27 | -0.64 | -0.75 |
Profit & loss
- Sales CAGR 3Y
- −45.3%
- ROE
- 276.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 239 | 75.5 | 71.8 | 39.1 | |
| – | minus 68.4% | minus 5.0% | minus 45.5% | |
| 451 | 475 | 393 | −1,570 | |
| −212 | −399 | −322 | 1,609 | |
| −88.7% | −528.2% | −448.2% | 4110.4% | |
| 5.5 | 22.1 | −1.3 | −2.2 | |
| 7.6 | 1.2 | 8.5 | 31.6 | |
| 11.8 | 12.5 | 12.4 | 10.2 | |
| 3.2 | 3.8 | 1.1 | −12.1 | |
| −223 | −387 | −343 | 1,553 | |
| – | −0.1% | 0.1% | 0.0% | |
| −223 | −387 | −343 | 1,553 | |
| -7.82 | -11.93 | -10.55 | 47.86 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 32.5 | 32.5 | 32.5 | 32.5 | |
| 480 | 93.3 | −249 | 1,306 | |
| 15.7 | 57.7 | 265 | 558 | |
| 302 | 332 | 287 | 274 | |
| 830 | 515 | 336 | 2,171 | |
| 109 | 109 | 99.3 | 85.7 | |
| 3.6 | 1.7 | 0.6 | 0.5 | |
| 150 | 25.5 | 26.1 | 28.7 | |
| 402 | 157 | 2 | 1.3 | |
| 165 | 222 | 208 | 2,055 | |
| 830 | 515 | 336 | 2,171 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −69.1 | −429 | −360 | −239 | |
| −548 | 392 | 158 | −23.5 | |
| 617 | 42.4 | 199 | 261 | |
| −0.6 | 4.7 | −3.4 | −0.9 | |
| −15.4 | −26.5 | −10.3 | −23.8 | |
| −84.5 | −456 | −371 | −263 |
Shareholding pattern
- Promoters65.67%
- Public34.33%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 65.67% | 34.33% | 0.00 | |
| 30 Jun 2026 | 65.67% | 34.33% | 0.00 | |
| 19 May 2026 | 65.67% | 34.33% | 0.00 | |
| 31 Mar 2026 | 65.67% | 34.33% | 0.00 | |
| 31 Dec 2025 | 65.67% | 34.33% | – |
Major shareholders
Filings & events
News
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