Aurobindo Pharma logo

Aurobindo Pharma

AUROPHARMA NSE

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹97,411 Cr
Volatility
Moderate
P/E Ratio
26.16
EBITDA
₹7,338 Cr
Return on Equity
9.25%
Debt to Equity
0.21
Book Value
₹658.53
EPS
₹61.22
52W High
₹1,740
52W Low
₹1,066.8

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

4
  • Stock is trading at 2.57 times its book value
  • The company has delivered a poor sales growth of 6.32% over past five years.
  • Company has a low return on equity of 10.8% over last 3 years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
5.56% lower than 3Y
Net Income Growth
0.56% lower than 3Y
Cash Flow Change
40.81% lower than 3Y
ROE
-13.31% lower than 3Y
ROCE
-13.72% lower than 3Y
EBITDA Margin (Avg.)
-3.5% lower than 3Y

AI Analysis — Bull vs Bear

5d ago
AI opinion · based on fundamentals
Risk medium

Aurobindo Pharma is a large-cap Indian generics maker with a market capitalisation of about Rs 99,138 crore. It trades at a P/E of 26.7x and a P/B of 2.61x. Profits grew at a 23% CAGR over 3 years against 11% sales growth, but 5-year profit growth is just 1% and 3-year ROE is modest at about 11%. The stock has returned 57% over 1 year and 25% CAGR over 3 years, while its 10-year return is 7% CAGR.

Bull Case 7
  • Profits grew at a 23% CAGR over 3 years, more than twice the 11% sales CAGR. This points to margin expansion and operating leverage over the period.
  • Sales growth picked up to an 11% CAGR over 3 years from 6% over 5 years. This suggests revenue momentum has improved in recent years.
  • TTM profit growth of 11% is still ahead of TTM sales growth of 9%, so profitability has kept improving on a trailing basis.
  • The stock returned 57% over 1 year and 25% CAGR over 3 years. This shows the market has responded to the earnings recovery.
  • A P/E of 26.7x against 23% 3-year profit growth gives a PEG of about 1.2x. That multiple is broadly in line with recent earnings growth.
  • The 10-year average ROE of 14% is above the current 10%. The company has earned higher returns before, which leaves room for ROE to improve if margins keep recovering.
  • Sales have grown at a 9% CAGR over 10 years, which shows a long record of steady revenue growth at a scale of about Rs 99,138 crore market cap.
Bear Case 8
  • Profit growth over 5 years is just 1% CAGR, and 10-year profit growth is 6% CAGR. Most of the recent profit growth has come from recovering off a weak base rather than steady compounding.
  • Sales grew only 6.32% a year over the past 5 years, which is slow for a company of this size in generics.
  • ROE is low: about 10.8% averaged over 3 years and 10% last year. This is below the 14% 10-year average and may be close to or below the company's cost of equity.
  • At a P/B of 2.61x with ROE near 10%, investors are paying a premium to book value that current returns on equity only partly support.
  • The company may be capitalising interest cost. If so, reported profit would be higher than it otherwise would be, which raises questions about earnings quality.
  • Growth is slowing: TTM profit growth of 11% is about half the 23% 3-year CAGR. At 26.7x P/E, the earnings yield is only about 3.7%.
  • The dividend yield of 0.23% gives shareholders almost no income support.
  • The 10-year stock CAGR of 7% shows long-term shareholder returns have been weak. Much of the gain has come in the last 1 to 3 years.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 5
  • Axis downgrades to Hold on valuation Sep 22

    Axis Securities cut its rating from Buy to Hold with a target of ₹1,600, citing above-average valuation. That target sits below the Sep 11 close of ₹1,675.45, which points to limited near-term upside.

  • Promoter block deal rumours Sep 3

    Market rumours point to a possible block deal by the promoter, which could create supply overhang. The company has not confirmed or disclosed anything.

  • Minor US FDA observations Sep 22

    A routine US FDA inspection at Lannett in late August led to 4 observations, which the company calls procedural. AuroPeptides' Sangareddy plant got 1 observation on equipment maintenance after its Aug 17-21 inspection, with no data integrity issues.

  • ₹4.60 crore GST demand Sep 29

    An order confirmed a ₹4.60 crore GST demand for FY21. The amount is small next to quarterly profit of over ₹1,000 crore, and the company plans to appeal to the GST Appellate Tribunal.

  • Muted reaction to inhaler approval Sep 15

    Shares closed 1.18% lower on the day the QVAR generic approval was announced. Good news looks largely priced in.

Positives 8
  • Strong Q1 FY27 earnings beat Sep 15

    Consolidated net profit rose 25.2% YoY to ₹1,032.56 crore on revenue up 16.86% to ₹9,105.82 crore, ahead of Street estimates. Gross margin expanded 153 bps to 60.4% and EBITDA margin reached 21%, with Europe up 25.6%, growth markets up 37.7% and the US up 8.1%.

  • First MDI approval: QVAR generic Sep 15

    The US FDA gave final approval for Beclomethasone Dipropionate HFA inhaler (40/80 mcg), Aurobindo's first metered-dose inhaler, targeting a $301 million US market. It will be made at the Raleigh, NC plant and launch in the coming quarters.

  • Advair generic launch, respiratory push Sep 22

    The company launched its first inhalation product, a generic Advair, at the end of August, addressing a market of over $650 million. Lannett's integration is strengthening its complex generics and controlled substances business.

  • CDMO growth roadmap; JM Buy ₹1,975 Sep 22

    Management targets formulation CDMO revenue of $200-300 million by FY31, up from $20 million now. API CDMO could grow from $10 million to $50 million in three years and peptide CDMO could add $50-100 million. JM Financial rates the stock Buy with a ₹1,975 target.

  • Unit-IV API clears FDA, zero observations Sep 11

    The US FDA inspection of Apitoria's Unit-IV in Srikakulam, AP (Sep 7-11) ended with zero observations. Shares rose 0.39% to ₹1,675.45.

  • Raleigh plant EIR closes inspection Sep 15

    The US FDA issued an EIR for the Raleigh facility, formally closing the Mar 24-Apr 10, 2025 inspection that had produced 11 Form 483 observations. This cleared the way for the inhaler approval.

  • US pipeline execution remains steady Sep 22

    In the quarter the company launched 10 US products, got 10 final ANDA approvals and filed 9 new ANDAs. Reported cumulative filings stand at 896 ANDAs, though approval counts differ across sources (737 vs 571 final).

  • Acrotech enters US dermatology Oct 1

    Subsidiary Acrotech Biopharma launched AdQuey ointment in the US and set up a dedicated dermatology division, widening its specialty portfolio.

Neutral 3
  • A1 Biochem Labs acquisition completed Oct 1

    Apitoria completed the A1 Biochem Labs deal for ₹9.18 crore in equity plus ₹24.62 crore in CCDs. Former promoter Rajendra Gadikota took a 20% stake, so it was treated as an arm's-length related party deal, which is a governance point to monitor.

  • A1 Biochem USA bought for CRO Sep 12

    The company acquired 100% of newly incorporated A1 Biochem USA Inc for $1 million to expand its CRO services. The amount is not material financially.

  • Heavy investor conference calendar Sep 11

    Management met investors at Kotak Healthcare Forum (Sep 18), BofA APAC in Hong Kong (Sep 21), J.P. Morgan India in Mumbai (Sep 22) and a J.P. Morgan group meet in Hyderabad (Sep 24). No UPSI was to be shared.

TL;DR: Aurobindo is executing well: Q1 FY27 profit grew 25% on 17% revenue growth with margins expanding to 21%, and its first inhalation products (Advair and QVAR generics, about $950 million combined market) mark a real move into complex respiratory therapies. Regulatory standing is improving, with a zero-observation inspection at Unit-IV and the Raleigh EIR, while CDMO offers a credible long-term growth lever. The main risks are valuation, shown by Axis's Hold at ₹1,600 below the current price and the weak reaction to good news, plus possible promoter selling and minor FDA observations at Lannett and AuroPeptides. The fundamental trend is improving, and the next re-rating likely depends on how fast the inhaler launches ramp up and how CDMO revenue grows over the coming quarters.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
6,851
7,219
7,352
7,580
7,567
7,796
7,979
8,382
7,868
8,286
8,646
8,853
9,150
Expenses
5,702
5,846
5,753
5,920
5,949
6,230
6,401
6,622
6,265
6,608
6,873
7,103
7,271
Operating Profit
1,149
1,373
1,599
1,660
1,618
1,566
1,578
1,760
1,603
1,678
1,773
1,750
1,880
OPM %
17%
19%
22%
22%
21%
20%
20%
21%
20%
20%
21%
20%
21%
Other Income
47
188
163
14
221
136
159
135
107
122
123
117
224
Interest
57
68
76
89
111
113
118
115
98
95
93
98
102
Depreciation
327
418
423
354
404
382
419
444
406
429
465
479
487
PBT
812
1,076
1,262
1,230
1,324
1,207
1,200
1,335
1,207
1,276
1,339
1,291
1,515
Tax %
30%
30%
26%
26%
31%
32%
30%
32%
32%
34%
32%
29%
32%
Net Profit
570
752
940
907
918
817
846
903
824
848
910
921
1,032
EPS in Rs
9.74
12.92
15.98
15.51
15.69
14.07
14.56
15.56
14.2
14.61
15.67
15.86
17.95
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
12,103
13,772
14,910
16,463
19,564
23,099
24,775
23,455
24,855
29,002
31,724
33,653
34,935
Expenses
9,524
10,579
11,469
12,691
15,612
18,249
19,497
19,060
21,148
23,176
25,164
26,783
27,854
Operating Profit
2,579
3,193
3,441
3,772
3,952
4,849
5,278
4,396
3,707
5,826
6,560
6,870
7,081
OPM %
21%
23%
23%
23%
20%
21%
21%
19%
15%
20%
21%
20%
20%
Other Income
81
200
115
105
70
166
3,195
152
291
366
613
404
586
Interest
160
257
67
78
263
305
74
49
140
290
457
384
388
Depreciation
333
392
428
558
668
967
1,055
1,127
1,245
1,522
1,649
1,778
1,859
PBT
2,168
2,744
3,061
3,241
3,091
3,743
7,344
3,373
2,612
4,380
5,066
5,112
5,420
Tax %
28%
26%
25%
25%
24%
24%
27%
22%
26%
28%
31%
31%
—
Net Profit
1,571
2,024
2,301
2,423
2,364
2,844
5,334
2,647
1,928
3,169
3,484
3,503
3,711
EPS in Rs
26.98
34.61
39.29
41.36
40.36
48.56
91.05
45.2
32.9
54.15
60.02
60.34
64.09
Div. Payout %
8%
7%
6%
6%
6%
6%
4%
20%
23%
8%
0%
7%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
29
59
59
59
59
59
59
59
59
59
58
58
Reserves
5,127
7,229
9,313
11,622
13,832
16,766
21,871
24,517
26,781
29,784
32,595
37,833
Borrowings
4,451
5,041
3,364
4,770
6,967
5,826
5,339
2,851
5,286
6,648
8,263
8,073
Other Liabilities
3,303
3,568
3,464
4,492
5,414
6,113
6,147
6,211
7,379
8,227
8,566
12,232
Total Liabilities
12,910
15,896
16,200
20,942
26,271
28,765
33,416
33,638
39,505
44,717
49,482
58,196
Fixed Assets
3,706
4,180
4,834
6,521
8,475
9,396
9,374
10,532
11,024
14,493
14,794
17,407
CWIP
420
848
1,458
1,583
1,668
1,986
3,062
3,747
5,390
3,869
4,900
5,214
Investments
20
123
246
312
360
555
591
997
543
372
252
1,051
Other Assets
8,765
10,745
9,662
12,527
15,768
16,827
20,390
18,362
22,549
25,983
29,536
34,525
Total Assets
12,910
15,896
16,200
20,942
26,271
28,765
33,416
33,638
39,505
44,717
49,482
58,196
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,237
1,420
3,279
1,955
1,651
4,381
3,329
5,016
2,387
2,435
3,925
5,526
Investing
-1,017
-1,446
-1,787
-1,927
-2,904
-1,563
597
-3,211
-3,971
-4,242
-1,866
-2,630
Financing
93
365
-1,915
864
1,919
-1,947
-1,365
-2,969
1,814
800
120
-1,269
Net Cash Flow
313
340
-424
892
666
871
2,561
-1,164
230
-1,007
2,178
1,628
Free Cash Flow
491
-146
1,594
714
114
2,969
1,503
2,693
-323
-1,067
1,408
2,468
CFO/OP
67
67
118
70
61
106
87
143
84
72
86
107
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
107
122
68
68
64
68
52
62
66
61
66
77
Inventory Days
239
240
246
317
304
289
333
272
275
284
295
326
Days Payable
136
146
122
128
107
97
103
97
125
129
117
151
Cash Conversion Cycle
210
217
191
257
260
260
282
237
216
216
244
252
Working Capital Days
50
44
51
50
25
35
52
84
55
66
49
44
ROCE %
27%
27%
25%
23%
18%
19%
18%
13%
9%
14%
14%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.28%Promot.51.88%Public5.36%FIIs16.38%DIIs25.10%As ofJun 2026
13.75% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Aurobindo Pharma

What does Aurobindo Pharma Ltd do?
Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.(Source : 202003 Annual Report Page No:159)
Where is Aurobindo Pharma Ltd (AUROPHARMA) listed?
Aurobindo Pharma Ltd trades as AUROPHARMA on the NSE and under code 524804 on the BSE.
Which sector does Aurobindo Pharma Ltd belong to?
Aurobindo Pharma Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Aurobindo Pharma Ltd?
Aurobindo Pharma Ltd has a market capitalisation of ₹97,411 Cr, which places it in the Large Cap band.
What is the PE ratio of Aurobindo Pharma Ltd?
Aurobindo Pharma Ltd trades at a PE ratio of 26.16, on earnings per share of ₹61.22, against a book value of ₹658.53 per share.
What is the 52-week high and low of Aurobindo Pharma Ltd?
Over the last 52 weeks Aurobindo Pharma Ltd has traded between ₹1,066.8 and ₹1,740.
Does Aurobindo Pharma Ltd pay dividends?
Aurobindo Pharma Ltd has a dividend yield of 0.24%.
What is the Return on Equity (ROE) of Aurobindo Pharma Ltd?
Aurobindo Pharma Ltd reported a return on equity of 9.25%. Its debt-to-equity ratio is 0.21.

Company Information

Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.(Source : 202003 Annual Report Page No:159)

Website aurobindo.com
CEO Mr. Kambam Nithyananda Reddy
Employees 27,707
Listed 1995-04-06
Face Value ₹ 1
Issued Size 58,08,01,623

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