āagman

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

Ipca Laboratories Ltd

NSE: IPCALAB
₹1,913.10
+₹1.50 (+0.08%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹48,595 Cr
CMP
₹1,913.10
52-wk High / Low
₹2,038 / 1,252
P/E
35.4
P/B
6.0
Book Value
₹318.0
Div Yield
0.31%
ROCE
17.0%
ROE
15.7%
Face Value
₹1
D/E
0.10

Price+43.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹567
√(22.5 × EPS × book value per share)
ROIC
13.3%
vs 11.2% sector median
Cash flow to profit
0.96
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+602
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
14.0%
ROE × earnings retention ratio
ROE stability
3.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.09DII −0.09
Latest quarter vs the previous one
Cash-accrual divergence
0.3%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.2x)
+Price is within 10% of its 52-week high (-6.1%)
+FII holding rose by 0.1pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 35.4x is below the sector median of 45.9x
Watch-outs
−Promoter holding fell by 1.6pp over the last year

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
Sales1,5852,0342,0532,0332,0932,3552,2452,2472,3092,5562,3922,3882,788
Expenses1,2781,6731,7221,7111,7001,9131,7821,8181,8922,0121,8591,9052,119
Operating Profit308361331322393441463429416545533484670
OPM %19.4%17.7%16.1%15.8%18.8%18.7%20.6%19.1%18.0%21.3%22.3%20.3%24.0%
Other Income45−191−118212620−17933−30384825
Interest31443329242317221920182012
Depreciation6990100989910098100100103108107111
Profit before tax25222528977290345368128331392446404572
Net Profit164136221119924627664233281364307424
EPS (₹)6.425.727.092.357.589.059.782.679.1911.1412.8611.7915.84

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,1442,8673,1563,2583,7464,6195,3955,7976,2047,6628,8979,59910,126
Expenses2,6042,5732,7052,8033,0513,7153,8434,4725,2726,3387,1667,6097,894
Operating Profit5412944514556959041,5521,3259321,3241,7311,9902,232
OPM %17.2%10.3%14.3%14.0%18.6%19.6%28.8%22.9%15.0%17.3%19.5%20.7%22.0%
Other Income322111415665595412317−1148081
Interest323527282220121148141887969
Depreciation180163173178182210209232262357398418429
Profit before tax3611172622915467391,3891,1367458431,1311,5731,814
Net Profit254931952394426041,1418904795237851,1841,375
EPS (₹)10.073.697.719.4917.6023.9944.9434.8518.5821.5729.0844.9851.63

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital252525252525252525252525—
Reserves2,1832,2342,4302,6633,0973,6024,6765,4675,8176,3076,9238,038—
Borrowings9358677166284655012658071,4811,4381,363809—
Other Liabilities6697657887999611,1301,0991,3381,3003,3263,4323,477—
Total Liabilities3,8123,8923,9604,1164,5495,2586,0667,6378,62311,09711,74412,350—
Fixed Assets1,8002,0141,9831,9531,9402,0592,0722,4182,7514,5544,2674,627—
CWIP267129957366133235306140343622773—
Investments162613687120310505989626862980844—
Other Assets1,7291,7231,7462,0032,4222,7563,2543,9245,1055,3395,8756,106—
Total Assets3,8123,8923,9604,1164,5495,2586,0667,6378,62311,09711,74412,350—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5224687092823415015701,0908568069451,3211,142
Cash from Investing Activity−369−689−218−149−135−165−509−521−851−725−1,215−870−247
Cash from Financing Activity−136251−462−159−130−183−137−306427507−553−283−754
Net Cash Flow182929−2675153−76264432588−823169142

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %28.014.05.09.010.016.019.031.020.011.013.015.017.0
ROE %————————————15.7
EPS (₹)18.9610.073.697.719.4917.6023.9944.9434.8518.5821.5729.0844.98
Book Value (₹)————————————318.0
Face Value (₹)————————————1
P/E————————————35.4
Div Yield %————————————0.31
NPM %14.68.03.26.27.211.612.920.915.27.66.88.912.2
OPM %23.017.010.014.014.019.020.029.023.015.017.019.021.0
D/E0.310.420.380.290.230.150.140.060.150.250.230.200.10
P/B————————————6.0

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+13.0%
5 years+12.0%
3 years+16.0%
TTM+11.0%
Compounded profit growth
10 years+30.0%
5 years+1.0%
3 years+37.0%
TTM+54.0%
Stock price CAGR
10 years+20.0%
5 years+10.0%
3 years+27.0%
Last year+44.0%
Return on equity
10 years14.0%
5 years13.0%
3 years13.0%
Last year16.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters46.13%46.13%46.13%46.07%46.07%46.29%46.29%46.29%46.30%44.72%44.72%44.72%
FIIs15.55%15.55%16.55%14.87%12.64%17.47%11.02%10.58%10.51%10.75%10.63%10.72%
DIIs21.70%21.70%23.36%24.88%26.61%24.82%32.70%33.74%34.05%35.73%37.13%37.04%
Government0.00%0.00%0.00%0.00%0.12%0.28%0.24%0.32%0.32%0.32%0.32%0.32%
Public16.62%16.62%13.96%14.18%14.56%11.14%9.75%9.06%8.82%8.45%7.21%7.19%
No. of shareholders64,48064,48056,98259,80481,1541,00,6261,15,3351,10,29681,16588,30682,18482,060
Change since Jun 2023 (pp)
Promoters −1.41FIIs −4.83DIIs +15.34Public −9.43

Documents

As of 11 Oct 2026
Announcements
Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAnnouncement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Scrutinizer''s Report
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2024Annual Report 2023
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026RecordingJun 2026TranscriptFeb 2026TranscriptFeb 2026RecordingNov 2025TranscriptNov 2025RecordingAug 2025Transcript

Corporate actions

As of 7 Aug 2026
7 Aug 2026DIVIDENDDividend - Rs 6 Per Share—
5 Aug 2025DIVIDENDDividend - Rs 2 Per Share—
27 Nov 2024DIVIDENDInterim Dividend - Rs 2 Per Share—
6 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 2 Per Share—
22 Nov 2023DIVIDENDInterim Dividend - Rs 2 Per Share—
22 Nov 2022DIVIDENDInterim Dividend - Rs 4 Per Share—
10 Jan 2022SPLITFace Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share2 : 1
22 Nov 2021DIVIDEND Interim Dividend - Rs 8 Per Share—
13 Nov 2020DIVIDEND Interim Dividend - Rs 8 Per Share—
18 Feb 2020DIVIDEND Interim Dividend - Rs 5 Per Share—
6 Aug 2019DIVIDEND Annual General Meeting/Dividend - Rs 3 Per Share—
2 Aug 2018DIVIDEND Annual General Meeting/Dividend- Re 1 Per Share—
27 Jul 2017DIVIDEND Annual General Meeting/Dividend - Re 1/- Per Share—
22 Jul 2015DIVIDENDAnnual General Meeting / Dividend - Re 1/- Per Share—
18 Jul 2014DIVIDENDAnnual General Meeting / Final Dividend - Rs 2.50/- Per Share—
31 Oct 2013DIVIDENDInterim Dividend Rs.2.50 Per Share (Purpose Revised)—
19 Jul 2013DIVIDENDAnnual General Meeting/Dividend Rs 2/- Per Share—
1 Nov 2012DIVIDENDInterim Dividend—
20 Jul 2012DIVIDENDAnnual General Meeting/ Dividend Rs 1.20 Per Share—
7 Feb 2012DIVIDEND2nd Interim Dividend Re.1/- Per Share (Purpose Revised)—
3 Nov 2011DIVIDENDInterim Dividend Re.1/- Per Share (Purpose Revised)—
18 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.1.20 Per Share—
1 Feb 2011DIVIDEND2nd Interim Dividend-Re.1/- Per Share (Purpose Revised)—
28 Oct 2010DIVIDENDInterim Dividend-Re.1/- Per Share (Purpose Revised)—
16 Jul 2010DIVIDENDAnnual General Meeting And Final Dividend Re.1/- Per Share—
22 Mar 2010SPLITFv Split Rs.10 To Rs.210 : 2
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman