āagman

Not investment advice. Data and computed figures, for information only.

Emcure Pharmaceuticals Ltd

NSE: EMCURE
₹1,836.00
−₹30.20 (−1.62%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹34,783 Cr
CMP
₹1,836.00
52-wk High / Low
₹2,101 / 1,307
P/E
33.8
P/B
7.0
Book Value
₹261.0
Div Yield
0.20%
ROCE
24.0%
ROE
20.1%
Face Value
₹10
D/E
0.31

Price+29.0% over 1Y

āagman read

Computed by āagman
Derived from 8 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹535
√(22.5 × EPS × book value per share)
ROIC
15.0%
vs 11.2% sector median
Cash flow to profit
1.00
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+77
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
18.7%
ROE × earnings retention ratio
ROE stability
7.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.04FII +1.52DII +2.36
Latest quarter vs the previous one
Cash-accrual divergence
−0.0%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 20% vs the 2025 sector median of 18%)
+Price trades above its 200-day moving average (1.1x)
+PE of 33.8x is below the sector median of 45.9x
Watch-outs

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,5561,6631,6681,7711,8152,0021,9632,1162,1012,2702,3632,4702,580
Expenses1,2611,3341,3741,4601,4791,6211,6081,7141,6841,7941,8711,9902,048
Operating Profit296329294311336381355402417475493480532
OPM %19.0%19.8%17.6%17.6%18.5%19.0%18.1%19.0%19.8%20.9%20.9%19.4%20.6%
Other Income15−2221223364−603−36142
Interest52596165594632392733384632
Depreciation677084919497979799105105106110
Profit before tax191198171167207273230261291341314341394
Net Profit141146120121153202156197215251231244292
EPS (₹)7.217.696.276.367.9510.298.119.9710.9212.8412.1612.8415.50

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 8 years + TTM
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,7175,0495,0335,8555,9866,6587,8969,2049,683
Expenses3,9684,3403,8174,5254,8045,4296,4277,4587,703
Operating Profit7497081,2161,3301,1821,2301,4691,7461,980
OPM %15.9%14.0%24.2%22.7%19.7%18.5%18.6%19.0%20.4%
Other Income72−25−15963394762100−17
Interest223257155176214237176144148
Depreciation267321250245260312384415425
Profit before tax3311056529737477279711,2871,390
Net Profit2091014197035625287079411,019
EPS (₹)10.794.6223.1536.6229.4227.5035.9648.7653.34

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital181181181181181181189190—
Reserves1,6541,7312,0921,8072,3202,7714,2574,760—
Borrowings2,1282,3272,3102,2172,3342,3351,0231,521—
Other Liabilities1,6131,7212,1841,8161,7982,4222,6533,043—
Total Liabilities5,5775,9606,7686,0216,6347,7098,1229,514—
Fixed Assets2,2472,3822,1882,0442,1473,1253,1973,319—
CWIP581485302320411159177273—
Investments00025253189520—
Other Assets2,7493,0934,2783,6324,0504,1084,6525,903—
Total Assets5,5775,9606,7686,0216,6347,7098,1229,514—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4445007047687471,097852944
Cash from Investing Activity−409−168−256−574−468−715−96−1,175
Cash from Financing Activity−735−301−189−152−145−164−814343
Net Cash Flow−7003225942134219−58112

Ratios

As of 31 Mar 2026
8 periods
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—11.022.026.021.019.020.024.0
ROE %———————20.1
EPS (₹)10.794.6223.1536.6229.4227.5035.9648.76
Book Value (₹)———————261.0
Face Value (₹)———————10
P/E———————33.8
Div Yield %———————0.20
NPM %4.42.08.611.99.37.98.910.1
OPM %16.014.024.023.020.018.019.019.0
D/E1.161.221.021.120.930.790.230.31
P/B———————7.0

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+13.0%
3 years+15.0%
TTM+18.0%
Compounded profit growth
5 years+18.0%
3 years+21.0%
TTM+37.0%
Stock price CAGR
Last year+29.0%
Return on equity
5 years21.0%
3 years19.0%
Last year20.0%

Shareholding pattern

As of 31 Mar 2025
Sep 2024Dec 2024Mar 2025
Promoters77.92%77.87%77.83%
FIIs3.06%3.35%4.87%
DIIs3.44%6.10%8.46%
Government———
Public15.58%12.69%8.84%
No. of shareholders1,39,6711,22,1891,24,991
Change since Sep 2024 (pp)
Promoters −0.09FIIs +1.81DIIs +5.02Public −6.74

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Investor PresentationIntimation Under Regulation 30 Of The SEBI (Listing Obligation And Disclosure Requirement) Regulations, 2015 - Change In Composition Of The Board Of The CompanyShareholder Meeting / Postal Ballot-Scrutinizer''s Report
Annual reports
Annual Report 2026Annual Report 2025
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Sep 2026PPTAug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026PPTMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026Recording

Corporate actions

As of 4 Sep 2026
4 Sep 2026DIVIDENDDividend - Rs 3.60 Per Share—
14 Aug 2025DIVIDENDDividend - Rs 3 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman