Emcure Pharmaceuticals Ltd logo

Emcure Pharmaceuticals Ltd

EMCURE NSE

Incorporated in 1981, Emcure Pharmaceuticals Ltd manufactures and markets pharmaceutical products globally[1]

AI Verdict: BUY Confidence: 7%

Emcure Pharmaceuticals shows strong earnings momentum with 38% TTM profit growth and consistent 15% sales CAGR over 3 years. At a PE of 35.3x, valuation is stretched but supported by 83% analyst buy ratings and healthy ROE of ~20%. The stock deserves accumulation on dips given its growth trajectory.

Key Fundamentals

SmallcapPharmaceuticalsHealthcare
Market Cap
₹35,870 Cr
Volatility
Moderate
P/E Ratio
38.56
EBITDA
₹1,833 Cr
Return on Equity
16.9%
Debt to Equity
0.45
Book Value
₹261
EPS
₹26.63
52W High
₹1,902.7
52W Low
₹1,228.9

Technical Indicators

Key Insights

Weaknesses

1
  • Stock is trading at 7.05 times its book value

Growth Rate

Revenue Growth
15.49% ↗
Net Income Growth
26.44% ↗
Cash Flow Change
-22.38% ↘
ROE
-9.82% ↘
ROCE
-1.72% ↘
EBITDA Margin (Avg.)
2.79% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
BUY
Risk medium

Emcure Pharmaceuticals shows strong earnings momentum with 38% TTM profit growth and consistent 15% sales CAGR over 3 years. At a PE of 35.3x, valuation is stretched but supported by 83% analyst buy ratings and healthy ROE of ~20%. The stock deserves accumulation on dips given its growth trajectory.

Bull Case 8
  • Exceptional profit growth with TTM compounded profit growth of 38%, significantly outpacing sales growth and indicating margin expansion
  • Strong analyst consensus with 83.33% buy ratings (5 out of 6 analysts) and zero sell recommendations
  • Consistent sales CAGR of 15% over 3 years and 13% over 5 years demonstrates durable revenue growth
  • Healthy ROE of 20% in the last year and 19% 3-year average indicates efficient capital deployment
  • Stock has delivered 35% returns over 1 year, showing strong price momentum and market confidence
  • Market cap of Rs 33,842 crore provides adequate liquidity and institutional investor interest in the mid-to-large cap space
  • Long-term profit CAGR of 18% over 5 years and 21% over 3 years shows accelerating earnings trajectory
  • Healthcare sector offers defensive characteristics with secular demand growth in Indian pharmaceutical market
Bear Case 8
  • PE ratio of 35.3x is elevated for a pharmaceutical company, leaving limited margin of safety if growth slows
  • Price-to-book ratio of 6.71x is high, suggesting significant premium over book value that could compress in a downturn
  • Dividend yield of just 0.17% offers negligible income return to shareholders despite profitable operations
  • 52-week high and low data unavailable (showing 0), making it difficult to assess current price relative to trading range
  • ROE has slightly declined from 22% (5-year average) to 19% (3-year average), suggesting some return on equity compression
  • Sales growth of 17% TTM versus profit growth of 38% TTM implies margin gains that may not be sustainable long-term
  • Only 6 total analyst ratings indicate limited institutional coverage, which can lead to higher volatility and information asymmetry
  • Debt-to-equity data unavailable, creating uncertainty around financial leverage and balance sheet risk

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 1
  • Strong FY26 revenue growth 16.6% Jun 12

    Emcure reported FY26 revenue of ₹9,204 crore, up 16.6% YoY, driven by strong international performance. EBITDA rose 21.8% to ₹1,789 crore with margins expanding to 19.4%.

Neutral 2
  • ₹211.53 Cr block trade at ₹1,700 Jun 9

    A large block trade of ~12.44 lakh shares at ₹1,700/share worth ₹211.53 crore was executed in the pre-open session on NSE, indicating significant institutional portfolio activity.

  • ₹26.65 Cr block trade at ₹1,772 Jun 22

    Approximately 1.50 lakh shares changed hands at ₹1,772/share in a ₹26.65 crore block trade on NSE, suggesting continued institutional interest at higher price levels.

TL;DR: Emcure delivered robust FY26 results with 16.6% revenue growth and meaningful margin expansion to 19.4%, reflecting strong execution in international markets. No visible headwinds emerged in recent news flow. Back-to-back block trades in June at rising prices (₹1,700 to ₹1,772) suggest institutional accumulation. The trend appears positive with earnings momentum intact heading into FY27.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,556
1,663
1,668
1,771
1,815
2,002
1,963
2,116
2,101
2,270
2,363
2,470
Expenses
1,261
1,334
1,374
1,460
1,479
1,621
1,608
1,714
1,684
1,794
1,871
1,990
Operating Profit
296
329
294
311
336
381
355
402
417
475
493
480
OPM %
19%
20%
18%
18%
19%
19%
18%
19%
20%
21%
21%
19%
Other Income
15
-2
22
12
23
36
4
-6
0
3
-36
14
Interest
52
59
61
65
59
46
32
39
27
33
38
46
Depreciation
67
70
84
91
94
97
97
97
99
105
105
106
PBT
191
198
171
167
207
273
230
261
291
341
314
341
Tax %
26%
26%
30%
27%
26%
26%
32%
24%
26%
26%
26%
29%
Net Profit
141
146
120
121
153
202
156
197
215
251
231
244
EPS in Rs
7.21
7.69
6.27
6.36
7.95
10.29
8.11
9.97
10.92
12.84
12.16
12.84
Figures in ₹ Crores

Profit & Loss

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
4,717
5,049
5,033
5,855
5,986
6,658
7,896
9,204
Expenses
3,968
4,340
3,817
4,525
4,804
5,429
6,427
7,339
Operating Profit
749
708
1,216
1,330
1,182
1,230
1,469
1,865
OPM %
16%
14%
24%
23%
20%
18%
19%
20%
Other Income
72
-25
-159
63
39
47
62
-19
Interest
223
257
155
176
214
237
176
144
Depreciation
267
321
250
245
260
312
384
415
PBT
331
105
652
973
747
727
971
1,287
Tax %
37%
4%
36%
28%
25%
27%
27%
27%
Net Profit
209
101
419
703
562
528
707
941
EPS in Rs
10.79
4.62
23.15
36.62
29.42
27.5
35.96
48.76
Div. Payout %
32%
54%
4%
8%
7%
7%
8%
7%
Figures in ₹ Crores

Balance Sheet

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
181
181
181
181
181
181
189
190
Reserves
1,654
1,731
2,092
1,807
2,320
2,771
4,257
4,760
Borrowings
2,128
2,327
2,310
2,217
2,334
2,335
1,023
1,558
Other Liabilities
1,613
1,721
2,184
1,816
1,798
2,422
2,653
3,104
Total Liabilities
5,577
5,960
6,768
6,021
6,634
7,709
8,122
9,612
Fixed Assets
2,247
2,382
2,188
2,044
2,147
3,125
3,197
3,420
CWIP
581
485
302
320
411
159
177
172
Investments
0
0
0
25
25
318
95
20
Other Assets
2,749
3,093
4,278
3,632
4,050
4,108
4,652
6,001
Total Assets
5,577
5,960
6,768
6,021
6,634
7,709
8,122
9,612
Figures in ₹ Crores

Cash Flow

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
444
500
704
768
747
1,097
852
944
Investing
-409
-168
-256
-574
-468
-715
-96
-1,193
Financing
-735
-301
-189
-152
-145
-164
-814
343
Net Cash Flow
-700
32
259
42
134
219
-58
94
Free Cash Flow
39
362
571
349
345
801
475
400
CFO/OP
77
84
74
81
80
107
75
70
Figures in ₹ Crores

Ratios

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
75
83
107
82
101
102
93
102
Inventory Days
234
211
293
237
223
225
224
237
Days Payable
142
133
188
184
175
193
172
175
Cash Conversion Cycle
167
161
212
135
148
134
145
163
Working Capital Days
-15
-28
-16
9
22
28
76
62
ROCE %
—
11%
22%
26%
21%
19%
21%
24%

Shareholding Pattern

As of Mar 2026
Promoters 77.87%
Public 6.46%
Others 6.22%
DIIs 6.10%
FIIs 3.35%
Total 100.00%
  Jul 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
78.08%
78.08%
77.94%
77.92%
77.91%
77.88%
77.87%
77.87%
FIIs
1.76%
2.91%
3.05%
3.07%
2.86%
3.29%
3.59%
3.35%
DIIs
3.34%
3.96%
3.87%
3.44%
2.84%
4.37%
6.10%
6.10%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
7.73%
5.00%
5.14%
5.51%
5.95%
6.24%
6.46%
6.46%
Others
9.10%
10.04%
10.00%
10.06%
10.44%
8.22%
5.98%
6.22%
No. of Shareholders
4,98,006
1,52,914
1,43,449
1,39,671
1,33,549
1,26,169
1,18,863
1,22,189

Documents

Frequently Asked Questions about Emcure Pharmaceuticals Ltd

What does Emcure Pharmaceuticals Ltd do?
Incorporated in 1981, Emcure Pharmaceuticals Ltd manufactures and markets pharmaceutical products globally[1]
Where is Emcure Pharmaceuticals Ltd (EMCURE) listed?
Emcure Pharmaceuticals Ltd is listed on the Indian stock exchanges. It is listed on NSE: EMCURE and BSE: 544210. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Emcure Pharmaceuticals Ltd belong to?
Emcure Pharmaceuticals Ltd operates in the Healthcare sector within the Pharmaceuticals & Biotechnology industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Emcure Pharmaceuticals Ltd?
Emcure Pharmaceuticals Ltd has a market capitalisation of approximately ₹35870.34 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Emcure Pharmaceuticals Ltd?
The Price-to-Earnings (PE) ratio of Emcure Pharmaceuticals Ltd is 38.56. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Emcure Pharmaceuticals Ltd?
Over the past 52 weeks, Emcure Pharmaceuticals Ltd has traded between a low of ₹1,228.9 and a high of ₹1,902.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Emcure Pharmaceuticals Ltd pay dividends?
Yes, Emcure Pharmaceuticals Ltd has a dividend yield of 0.16%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Emcure Pharmaceuticals Ltd?
Emcure Pharmaceuticals Ltd has a Return on Equity (ROE) of 16.90%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Emcure Pharmaceuticals Ltd on Tapetide?
On Tapetide, you can view Emcure Pharmaceuticals Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 1981, Emcure Pharmaceuticals Ltd manufactures and markets pharmaceutical products globally[1]

Website emcure.com
CEO Mr. Satish Ramanlal Mehta
Employees 6,731
Listed 2024-07-10
Face Value ₹ 10
Issued Size 18,95,72,547

Explore More

More in Healthcare → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List