āagman

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

Natco Pharma Ltd

NSE: NATCOPHARM
₹785.05
+₹0.10 (+0.01%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹15,486 Cr
CMP
₹785.05
52-wk High / Low
₹1,227 / 779
P/E
13.5
P/B
1.7
Book Value
₹470.0
Div Yield
0.63%
ROCE
17.0%
ROE
17.1%
Face Value
₹2
D/E
0.08

Price−6.5% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹874
√(22.5 × EPS × book value per share)
ROIC
12.0%
vs 11.2% sector median
Cash flow to profit
1.25
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−1,766
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
15.6%
ROE × earnings retention ratio
ROE stability
7.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.38DII +0.17
Latest quarter vs the previous one
Cash-accrual divergence
−3.6%
of assets
Low = accruals track cash flow
Strengths
+Promoter holding rose by 0.6pp over the last year
+FII holding rose by 5.1pp over the last year
+PE of 13.5x is below the sector median of 45.9x
Watch-outs
−Borrowings are up 531.9% since FY2016 (113 to 714)
−Price trades below its 200-day moving average (0.8x)
−Price is 36.0% below its 52-week high

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
Sales1,1401,0317591,0681,3631,3714751,2211,3291,363647739735
Expenses612573490571558567436673758784489612549
Operating Profit52845826849780580439548571579159128186
OPM %46.3%44.4%35.3%46.5%59.1%58.6%8.2%44.9%43.0%42.5%24.6%17.3%25.3%
Other Income2029374248641766662100587859
Interest445654410313101113
Depreciation44444456444647985852465047
Profit before tax500440256478804818164506572614161144186
Net Profit420369213386668676132406480518151269206
EPS (₹)21.4218.8110.8419.6934.0734.526.7820.7224.5026.427.7213.6510.52

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
Sales8251,0422,0202,1852,0941,9152,0521,9452,7073,9994,4304,0783,485
Expenses6157771,3371,2561,3001,3321,4461,6811,7722,2452,2342,6172,433
Operating Profit2102666839287955836062649361,7542,1961,4621,052
OPM %25.5%25.5%33.8%42.5%38.0%30.4%29.5%13.6%34.6%43.9%49.6%35.9%30.2%
Other Income012144013010710499105126354272295
Interest32231815192213181419243746
Depreciation4751546681100117143164187235207196
Profit before tax1322046248878255695802028621,6742,2911,4911,104
Net Profit1301564856956424584421707151,3881,8831,4181,145
EPS (₹)7.408.2325.4634.4532.1723.1122.088.5035.7870.7696.1072.3058.31

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital333535373636363636363636—
Reserves8131,2611,6143,0353,4523,7374,0854,2274,8375,8177,5719,185—
Borrowings312113222173386316268416167371279714—
Other Liabilities2264134464704284984034306176827441,138—
Total Liabilities1,3841,8222,3183,7154,3034,5884,7925,1095,6576,9068,63111,074—
Fixed Assets7107108331,0191,2271,5842,0232,3122,4272,4912,6982,803—
CWIP12921233648063851822313064137225294—
Investments22232761691123043083925394743,127—
Other Assets5438781,1162,1402,2702,3732,2422,3602,7743,7395,2344,850—
Total Assets1,3841,8222,3183,7154,3034,5884,7925,1095,6576,9068,63111,074—

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 Activity14493112346464669417299468491,2121,6971,768
Cash from Investing Activity−108−120−176−299−1,116−611−175−1074−465−1,026−1,436−1,987
Cash from Financing Activity−3529154−48651−51−251−18635−363−247−211298
Net Cash Flow0290−1−27−868521−625079

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.017.018.039.035.023.014.013.04.018.030.033.017.0
ROE %————————————17.1
EPS (₹)6.217.408.2325.4634.4532.1723.1122.088.5035.7870.7696.1072.30
Book Value (₹)————————————470.0
Face Value (₹)————————————2
P/E————————————13.5
Div Yield %————————————0.63
NPM %13.315.814.823.831.228.922.720.58.325.433.639.432.6
OPM %24.025.025.034.042.038.030.030.014.035.044.050.036.0
D/E0.330.370.090.130.060.110.080.070.100.030.060.040.08
P/B————————————1.7

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+15.0%
5 years+15.0%
3 years+15.0%
TTM−21.0%
Compounded profit growth
10 years+25.0%
5 years+28.0%
3 years+27.0%
TTM−33.0%
Stock price CAGR
10 years+3.0%
5 years−2.0%
3 years−3.0%
Last year−6.0%
Return on equity
10 years19.0%
5 years19.0%
3 years23.0%
Last year17.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters48.82%48.82%51.24%48.38%48.71%48.93%48.87%48.81%48.84%49.71%49.56%49.41%49.41%
FIIs11.73%11.73%19.41%23.96%21.39%21.67%16.35%11.94%11.91%16.14%17.49%17.37%16.99%
DIIs14.93%14.93%7.29%6.31%7.13%10.57%16.14%16.15%15.38%9.69%5.64%5.46%5.63%
Government—————————————
Public24.53%24.53%22.05%21.35%22.77%18.83%18.65%23.10%23.87%24.46%27.30%27.74%27.97%
No. of shareholders1,35,3971,35,39744,48256,64776,87971,58085,50985,8281,53,6632,28,4674,05,2224,10,9704,03,166
Change since Jun 2023 (pp)
Promoters +0.59FIIs +5.26DIIs −9.30Public +3.44

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Scrutinizer''s ReportClosure of Trading WindowShareholder Meeting / Postal Ballot-Outcome of AGMBoard Meeting Outcome for Outcome Of Fund Raising Committee Meeting Approving The Letter Of Offer For Rights Issue
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingAug 2026PPTJun 2026TranscriptJun 2026PPTJun 2026RecordingFeb 2026TranscriptFeb 2026RecordingFeb 2026PPTFeb 2026Recording

Corporate actions

As of 1 Oct 2026
1 Oct 2026RIGHTSRights 2:21 @ Premium Rs 748/-—
20 Aug 2026DIVIDENDInterim Dividend - Rs 1.50 Per Share—
18 Feb 2026DIVIDENDInterim Dividend - Rs 1.50 Per Share—
20 Nov 2025DIVIDENDInterim Dividend - Rs 1.50 Per Share—
19 Aug 2025DIVIDENDInterim Dividend - Rs 2 Per Share—
18 Feb 2025DIVIDENDInterim Dividend - Rs 1.50 Per Share—
27 Nov 2024DIVIDENDInterim Dividend - Rs 1.50 Per Share—
23 Aug 2024DIVIDENDInterim Dividend - Rs 3 Per Share—
26 Feb 2024DIVIDENDInterim Dividend - Rs 1.25 Per Share—
24 Nov 2023DIVIDENDInterim Dividend - Rs 1.25 Per Share—
22 Aug 2023DIVIDENDInterim Dividend - Rs 7 Per Share—
21 Feb 2023DIVIDENDInterim Dividend - Rs 1.25 Per Share—
21 Nov 2022DIVIDENDInterim Dividend - Re 0.75 Per Share—
19 Aug 2022DIVIDENDInterim Dividend - Rs 3.50 Per Share—
24 Feb 2022DIVIDENDInterim Dividend - Rs 2 Per Share—
23 Nov 2021DIVIDEND Interim Dividend - Rs 0.50 Per Share—
24 Aug 2021DIVIDEND Interim Dividend - Rs 2 Per Share—
22 Feb 2021DIVIDEND Interim Dividend - Re 1 Per Share—
24 Nov 2020DIVIDEND Interim Dividend - Rs 3 Per Share—
21 Aug 2020DIVIDEND Interim Dividend - Rs 1.25 Per Share—
26 Jun 2020DIVIDEND Interim Dividend - Re 1 Per Share—
24 Feb 2020DIVIDEND Interim Dividend - Rs 3.5 Per Share—
21 Nov 2019DIVIDEND Interim Dividend - Re 1 Per Share—
22 Aug 2019DIVIDEND Interim Dividend - Rs 1.25 Per Share—
6 Jun 2019DIVIDEND Interim Dividend - Rs 1.25 Per Share—
21 Feb 2019DIVIDEND Interim Dividend - Rs 3.50 Per Share—
20 Aug 2018DIVIDEND Interim Dividend- Rs 1.50 Per Share—
15 Feb 2018DIVIDEND Interim Dividend Rs 7/- Per Share—
16 Aug 2017DIVIDEND Interim Dividend - Rs 1.25 Per Share—
23 Feb 2017DIVIDEND Interim Dividend Rs 6/- Per Share—
19 Aug 2016DIVIDEND Dividend - Re 0.75/- Per Share—
22 Feb 2016DIVIDEND Interim Dividend - Rs 1.25/- Per Share—
26 Nov 2015SPLIT Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share10 : 2
24 Feb 2015DIVIDENDInterim Dividend - Rs 5/- Per Share—
24 Feb 2014DIVIDENDInterim Dividend Rs.5/- Per Share—
22 Feb 2013DIVIDENDInterim Dividend Rs 4 Per Share—
22 Feb 2012DIVIDENDInterim Dividend Rs.3/- Per Share—
24 Feb 2011DIVIDENDInterim Dividend-Rs.2/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman