---
title: "Polar Pharma India Ltd (523333) — Share Price, Financials & Analysis"
symbol: "523333"
company: "Polar Pharma India Ltd"
canonical: "https://tapetide.com/stocks/523333"
isin: "INE145D01019"
bse_code: "523333"
generated_at: "2026-10-13T10:59:42.828Z"
---

# Polar Pharma India Ltd (523333)

Canonical page: https://tapetide.com/stocks/523333

## Company

- **BSE Code:** 523333
- **ISIN:** INE145D01019
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** polarpharma.com

## About

Polar Pharma India Limited is an India-based company. The Company is engaged in dealing with latex prophylactics.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -40% | 11% | — |
| revenue growth | 48% | 296% | -3% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2184 | 1923 | 2195 | 2211 | 2325 | 2103 | 2288 | 2208 | 2288 | 2154 | 2355 | 2308 |
| Expenses | 1733 | 1527 | 1648 | 1693 | 1827 | 1662 | 1706 | 1743 | 1847 | 1721 | 1779 | 1793 |
| Operating Profit | 451 | 396 | 546 | 517 | 498 | 442 | 582 | 465 | 441 | 433 | 576 | 514 |
| OPM % | 21 | 21 | 25 | 23 | 21 | 21 | 25 | 21 | 19 | 20 | 24 | 22 |
| Other Income | 94 | 81 | 105 | 92 | 93 | 94 | 96 | 96 | 129 | 95 | 88 | 92 |
| Interest | 17 | 16 | 17 | 19 | 20 | 19 | 19 | 18 | 17 | 17 | 19 | 20 |
| Depreciation | 158 | 142 | 153 | 159 | 165 | 169 | 166 | 85 | 160 | 162 | 147 | 154 |
| Profit before tax | 371 | 319 | 482 | 431 | 406 | 347 | 493 | 457 | 392 | 349 | 498 | 433 |
| Tax % | 26 | 24 | 25 | 24 | 26 | 25 | 25 | 26 | 27 | 26 | 26 | 24 |
| Net Profit | 279 | 245 | 368 | 331 | 318 | 259 | 366 | 367 | 299 | 267 | 380 | 335 |
| EPS in Rs | 3.66 | 3.22 | 4.82 | 4.34 | 4.16 | 3.39 | 4.8 | 4.81 | 3.92 | 3.5 | 4.97 | 4.38 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 46 | 19 | 26 | 0 | 0 | 11 | 16 |
| Expenses | 74 | 23 | 26 | 11 | 2 | 9 | 18 |
| Operating Profit | -28 | -5 | 0 | -11 | -2 | 2 | -2 |
| OPM % | -61 | -24 | -1.4 | -4100 | -6633 | 19 | -13 |
| Other Income | 46 | -2 | 1 | -42 | 0 | 0 | 0 |
| Interest | 3 | 5 | 5 | 4 | 12 | 13 | 15 |
| Depreciation | 3 | 3 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 12 | -14 | -7 | -59 | -16 | -14 | -19 |
| Tax % | 44 | -33 | -64 | 15 | 0 | 0 | 0 |
| Net Profit | 6 | -9 | -3 | -68 | -16 | -14 | -19 |
| EPS in Rs | 5.28 | -7.37 | -2.09 | -55.36 | -13.12 | -11.03 | -15.4 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | -1 | -9 | -11 | -79 | -95 | -109 | -128 |
| Borrowings | 41 | 46 | 43 | 86 | 104 | 118 | 133 |
| Other Liabilities | 16 | 12 | 9 | 13 | 8 | 9 | 6 |
| Total Liabilities | 68 | 62 | 53 | 32 | 29 | 31 | 24 |
| Fixed Assets | 34 | 31 | 29 | 26 | 24 | 22 | 19 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 34 | 30 | 25 | 6 | 5 | 9 | 4 |
| Total Assets | 68 | 62 | 53 | 32 | 29 | 31 | 24 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 20 | -6 | 6 | -40 | 2 | -1 | 1 |
| Cash from Investing Activity | -1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Cash from Financing Activity | -18 | 4 | -6 | 39 | -2 | 1 | 0 |
| Net Cash Flow | 2 | -2 | 1 | -1 | 0 | 0 | 1 |
| Free Cash Flow | 19 | -6 | 6 | -40 | 2 | -1 | 1 |
| CFO/OP | -73 | 142 | -1717 | 376 | -120 | -45 | -34 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 100 | 190 | 90 | — | — | 59 | 4 |
| Inventory Days | 228 | 458 | 83 | — | — | 365 | 64 |
| Days Payable | 96 | 53 | 20 | — | — | 346 | 68 |
| Cash Conversion Cycle | 232 | 596 | 153 | — | — | 77 | 0 |
| Working Capital Days | 127 | 264 | 67 | — | — | -35 | -69 |
| ROCE % | — | -11 | -4 | -35 | -21 | -1 | -20 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% |
| FIIs | 27.08% | 25.16% | 28.52% | 26.84% | 24% | 23.54% | 22.24% | 16.63% | 13.1% | 9.05% |
| DIIs | 14.37% | 15.95% | 12.05% | 13.56% | 16.35% | 16.9% | 19.15% | 24.88% | 26.19% | 28.68% |
| Government | 0% | 0.08% | 0.09% | 0.15% | 0.15% | 0.12% | 0.12% | 0.12% | 0.08% | 0% |
| Public | 3.75% | 4.01% | 4.54% | 4.65% | 4.7% | 4.65% | 3.7% | 3.57% | 5.83% | 7.45% |
| No. of Shareholders | 50214 | 51064 | 61255 | 78027 | 107227 | 135854 | 145106 | 136322 | 325984 | 362999 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% | 54.8% |
| FIIs | 22.24% | 21.57% | 20.69% | 19.55% | 16.63% | 16.15% | 13.65% | 13.47% | 13.1% | 12.74% | 12.38% | 9.05% |
| DIIs | 19.15% | 20.49% | 21.46% | 22.76% | 24.88% | 24.71% | 25.73% | 25.7% | 26.19% | 26.12% | 25.82% | 28.68% |
| Government | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.08% | 0.08% | 0.08% | 0.08% | 0% | 0% |
| Public | 3.7% | 3.02% | 2.93% | 2.77% | 3.57% | 4.23% | 5.73% | 5.94% | 5.83% | 6.27% | 7.01% | 7.45% |
| No. of Shareholders | 145106 | 130976 | 128133 | 119870 | 136322 | 192067 | 301984 | 318196 | 325984 | 340662 | 361245 | 362999 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-06 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/xml-data/corpfiling/AttachLive/07481838-643d-4009-874e-a733fa136bc5.pdf) |
| 2026-03-03 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8957ee27-60a1-497b-98b0-13314ebd8431.pdf) |
| 2026-03-02 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/00b0d0c4-36af-4f87-a605-cccbf83edd4b.pdf) |
| 2026-03-01 | [Assumption Of Additional Charge Of Director (Domestic Division) Of CONCOR](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6672fac3-a1d4-49ce-be05-252a619e2125.pdf) |
| 2026-02-27 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8cc4654b-2d50-4144-9894-f47c1c3ebd5d.pdf) |
| 2026-02-23 | [Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2212b822-5e74-42ab-80f5-c5cfe9e9595d.pdf) |
| 2026-02-20 | [Additional Charge Of Director (Domestic Division)](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fc5d1d9b-aafb-4e81-9e61-3d8d978fb849.pdf) |
| 2026-02-19 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1bd569f4-9a56-490a-823a-20f5c4f69de3.pdf) |
| 2026-02-18 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1a653091-0167-440b-a0a3-fe7b54367ac2.pdf) |
| 2026-02-18 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5edb32ff-d52c-49d9-a679-a1bcf0dc04f8.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1ddf804b-4abf-4d0a-b688-3028af41079d.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fe7b8106-5fd4-42d6-b262-3efd67a04fb7.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/55bf69b3-f3f3-42a6-b011-ed5535d86f7f.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/531344/75712531344.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/531344/71309531344.pdf) |
| 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/531344/65864531344.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/531344/5313440319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/531344/5313440318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/531344/5313440317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/531344/5313440316.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e7ed07e8-d349-4b13-a089-14402b2991e2.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22f2d68d-b767-49fa-9498-227506ac65fb.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/acc9b944-b9e7-47fe-9fd1-68e1af9e8410.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0e57f7da-c1bd-4a2c-a2f0-ecd1224f0f01.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0cc93681-e0f3-4196-9c45-d08ae6193e0e.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a13a387b-32b1-4480-8b4a-32fd0ec6d08d.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bbaf7ba3-afd9-443c-b6e3-51793e69e605.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bb9db56c-3aa7-4d46-9a89-70d840037f80.pdf) |
| Jan 2024 | [Concall - Jan 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1ddf2b09-78a3-48fb-bfd8-cf284caab1da.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7df9650a-fb02-4e92-a29b-90cbe44025fc.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-10-09 | Credit rating update — ICRA |
| 2024-08-02 | Credit rating update — ICRA |
| 2023-06-23 | Credit rating update — ICRA |
| 2022-09-09 | Credit rating update — ICRA |
| 2021-08-24 | Credit rating update — ICRA |
| 2021-07-05 | Credit rating update — Brickwork Ratings |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T10:59:42.828Z.