Eris Lifesciences
Eris Lifesciences
HealthcareKey Fundamentals
SmallcapPharmaceuticalsHealthcareTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
2- Stock is trading at 4.22 times its book value
- Tax rate seems low
Growth Rate
AI Analysis — Bull vs Bear
Eris Lifesciences is a branded domestic formulations company with a market capitalisation of about Rs 17,691 crore. It trades at a P/E of 26.6x and a P/B of 4.53x. Sales have grown at a 23% CAGR over 3 years and 21% over 5 years, and TTM profit growth of 69% signals a recovery in earnings. ROE has eased from a 10-year average of 21% to a 3-year average of 16%, and the stock has returned -21% over the past year.
- Sales growth has been consistently strong at a 23% CAGR over 3 years, 21% over 5 years and 18% over 10 years, which points to steady expansion of the top line through organic growth and acquisitions.
- TTM profit growth of 69% is far ahead of TTM sales growth of 10%, which suggests operating leverage and better earnings as recently acquired businesses are integrated.
- Last-year ROE of 19% is higher than the 3-year average of 16%, a sign that return ratios may be recovering after a period of dilution.
- ROE has averaged 21% over 10 years and 18% over 5 years, a long record of above-cost-of-capital returns for a branded generics business.
- Profit has compounded at 17% over 10 years and 19% over 3 years, which shows earnings growth that has held up across business cycles.
- After a -21% stock return over 1 year, the P/E of 26.6x is lower than the stock's recent history, while TTM profit growth is running at 69%.
- The stock has still delivered a 15% CAGR over 3 years and 11% over 5 years despite the recent drawdown, so long-term shareholders have seen positive compounding.
- The stock trades at 4.53x book value, a significant premium to net assets that leaves little room for disappointment if earnings slow.
- ROE has declined structurally from a 10-year average of 21% to 18% over 5 years and 16% over 3 years, which suggests acquisitions have diluted capital efficiency.
- Profit has grown much more slowly than sales over 5 years: a 12% profit CAGR against a 21% sales CAGR, which implies margin compression or rising interest and amortisation costs.
- TTM sales growth has slowed to 10% from the 3-year CAGR of 23%, a sign that growth from recent acquisitions may be fading and organic momentum is more modest.
- The stock has fallen 21% over the past year, reflecting weaker market sentiment towards the company's leverage, integration execution or growth outlook.
- The tax rate appears low, which may reflect location-based incentives. If those benefits expire or the tax rate normalises, reported profits could come under pressure even at a P/E of 26.6x.
- The dividend yield of 0.57% offers little income support, so shareholder returns depend largely on earnings growth and the valuation multiple holding up.
- Debt-to-equity data is not available in the dataset. That makes it hard to judge the balance-sheet risk from the acquisition-led expansion behind the 23% 3-year sales CAGR.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- COO Krishnakumar Vaidyanathan resigns Sep 11
Krishnakumar Vaidyanathan has resigned as Executive Director and COO and will step down on September 30, 2026, to pursue other opportunities. Losing a senior operations leader creates execution and continuity risk until a successor is named.
- Investment veteran joins board Sep 21
Akhil Awasthi has been appointed Additional Independent Director for a five-year term starting September 26, 2026. His investment background adds capital-allocation experience to the board.
- Institutional investor engagement continues Sep 7
Eris held an in-person meeting with Bank of India Mutual Fund on September 10, 2026, which shows it is still actively engaging institutional investors. The company was represented by outgoing COO Krishnakumar Vaidyanathan.
- ₹45 crore Axis Bank loan Sep 9
Eris signed a ₹45 crore term loan agreement with Axis Bank to meet other liabilities. Management says this routine adjustment will not change its expected net debt at quarter-end.
- 20th AGM concluded via VC Sep 25
At its 20th AGM on September 25, 2026, shareholders adopted the FY26 financials and reappointed directors Kaushal Shah and Sujesh Vasudevan. This is a routine annual governance step.
- FY26 BRSR report filed Sep 2
Eris filed its FY26 Business Responsibility and Sustainability Report, covering environmental metrics, workforce data and governance for its standalone operations in India. This is a regulatory compliance filing.
TL;DR: September news for Eris was mostly routine corporate governance and compliance, with no new operating or financial data. The main risk is the exit of COO and Executive Director Krishnakumar Vaidyanathan on September 30, 2026, which creates a leadership gap. Adding Akhil Awasthi to the board and continued meetings with institutional investors are mild positives, and the ₹45 crore Axis Bank loan is described as net-debt neutral. Overall the trend looks stable, and the next things to watch are the COO succession plan and Q2 FY27 results for signs of how deleveraging and margins are going.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 467 | 505 | 486 | 551 | 720 | 741 | 727 | 705 | 773 | 792 | 807 | 757 | 873 |
| Expenses | 297 | 324 | 311 | 402 | 470 | 477 | 477 | 453 | 496 | 504 | 526 | 484 | 577 |
| Operating Profit | 170 | 181 | 176 | 148 | 250 | 265 | 250 | 252 | 277 | 288 | 282 | 272 | 296 |
| OPM % | 36% | 36% | 36% | 27% | 35% | 36% | 34% | 36% | 36% | 36% | 35% | 36% | 34% |
| Other Income | 1 | 3 | 4 | 15 | 2 | 5 | 4 | 8 | 4 | 3 | -17 | 2 | 2 |
| Interest | 17 | 16 | 18 | 33 | 60 | 59 | 57 | 54 | 49 | 50 | 49 | 46 | 47 |
| Depreciation | 41 | 42 | 46 | 54 | 76 | 80 | 81 | 77 | 71 | 69 | 70 | 70 | 72 |
| PBT | 112 | 126 | 116 | 77 | 116 | 129 | 116 | 129 | 161 | 173 | 145 | 159 | 179 |
| Tax % | 17% | 3% | 12% | -4% | 22% | 25% | 25% | 21% | 22% | 22% | 25% | -75% | 20% |
| Net Profit | 94 | 122 | 101 | 80 | 90 | 96 | 87 | 102 | 125 | 134 | 109 | 279 | 143 |
| EPS in Rs | 6.98 | 9.07 | 7.55 | 5.22 | 6.12 | 6.73 | 6.15 | 6.89 | 8.66 | 8.82 | 7.32 | 20.33 | 10.28 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 546 | 597 | 750 | 856 | 982 | 1,074 | 1,212 | 1,347 | 1,685 | 2,009 | 2,894 | 3,129 | 3,230 |
| Expenses | 427 | 425 | 480 | 533 | 637 | 702 | 781 | 858 | 1,146 | 1,332 | 1,876 | 2,009 | 2,092 |
| Operating Profit | 118 | 172 | 269 | 322 | 345 | 372 | 431 | 489 | 539 | 677 | 1,018 | 1,120 | 1,138 |
| OPM % | 22% | 29% | 36% | 38% | 35% | 35% | 36% | 36% | 32% | 34% | 35% | 36% | 35% |
| Other Income | 7 | 3 | 25 | 26 | 31 | 12 | 9 | 22 | 9 | 22 | 18 | -9 | -9 |
| Interest | 0 | 0 | 1 | 11 | 23 | 2 | 2 | 4 | 26 | 85 | 231 | 193 | 191 |
| Depreciation | 16 | 20 | 23 | 26 | 36 | 50 | 43 | 65 | 117 | 183 | 315 | 280 | 281 |
| PBT | 109 | 154 | 270 | 312 | 317 | 331 | 394 | 442 | 405 | 431 | 489 | 639 | 657 |
| Tax % | 18% | 13% | 9% | 6% | 8% | 11% | 10% | 8% | 8% | 8% | 23% | -1% | — |
| Net Profit | 89 | 135 | 247 | 295 | 291 | 297 | 355 | 406 | 374 | 397 | 375 | 648 | 666 |
| EPS in Rs | 6,489 | 9,714 | 17.95 | 21.39 | 21.15 | 21.84 | 26.16 | 29.88 | 28.1 | 28.82 | 25.84 | 44.72 | 46.75 |
| Div. Payout % | 0% | 63% | 0% | 0% | 0% | 13% | 21% | 20% | 26% | 0% | 28% | 16% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.14 | 0.14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| Reserves | 266 | 299 | 553 | 848 | 1,137 | 1,283 | 1,563 | 1,895 | 2,182 | 2,573 | 2,841 | 3,889 |
| Borrowings | 1 | 0 | 1 | 377 | 176 | 0 | 7 | 84 | 877 | 2,781 | 2,478 | 2,359 |
| Other Liabilities | 91 | 98 | 124 | 170 | 175 | 205 | 202 | 233 | 337 | 1,366 | 1,415 | 861 |
| Total Liabilities | 357 | 397 | 692 | 1,408 | 1,502 | 1,502 | 1,785 | 2,226 | 3,410 | 6,734 | 6,747 | 7,123 |
| Fixed Assets | 72 | 71 | 232 | 771 | 761 | 875 | 854 | 918 | 2,568 | 4,319 | 5,306 | 5,188 |
| CWIP | 0 | 0 | 0 | 0 | 3 | 4 | 2 | 27 | 22 | 20 | 67 | 171 |
| Investments | 167 | 190 | 303 | 365 | 356 | 78 | 294 | 520 | 37 | 16 | 67 | 62 |
| Other Assets | 119 | 136 | 157 | 271 | 383 | 544 | 636 | 761 | 783 | 2,379 | 1,307 | 1,702 |
| Total Assets | 357 | 397 | 692 | 1,408 | 1,502 | 1,502 | 1,785 | 2,226 | 3,410 | 6,734 | 6,747 | 7,123 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 90 | 131 | 200 | 235 | 223 | 271 | 375 | 378 | 292 | 486 | 1,065 | 538 |
| Investing | -92 | -44 | -184 | -590 | -5 | 123 | -323 | -320 | -975 | -1,828 | -78 | -369 |
| Financing | 0 | -84 | -24 | 363 | -221 | -335 | -82 | -45 | 688 | 1,380 | -881 | -314 |
| Net Cash Flow | -2 | 4 | -8 | 8 | -3 | 60 | -30 | 14 | 5 | 38 | 105 | -145 |
| Free Cash Flow | 77 | 108 | 150 | 210 | 186 | 125 | 350 | 258 | -550 | 357 | 910 | 241 |
| CFO/OP | 96 | 97 | 94 | 94 | 85 | 87 | 103 | 94 | 68 | 87 | 114 | 59 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 16 | 24 | 28 | 31 | 53 | 42 | 44 | 63 | 77 | 58 | 79 |
| Inventory Days | 223 | 178 | 195 | 178 | 196 | 148 | 145 | 166 | 136 | 182 | 171 | 200 |
| Days Payable | 142 | 92 | 134 | 247 | 200 | 213 | 157 | 166 | 129 | 210 | 170 | 151 |
| Cash Conversion Cycle | 97 | 102 | 84 | -40 | 28 | -12 | 30 | 44 | 70 | 48 | 59 | 129 |
| Working Capital Days | 15 | 9 | 23 | -13 | -17 | 59 | 64 | 75 | 50 | -296 | -49 | -71 |
| ROCE % | 47% | 53% | 60% | 34% | 26% | 25% | 27% | 25% | 17% | 11% | 12% | 14% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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67 extracted metrics + investor summaries across FY11–FY27.
Documents
Frequently Asked Questions about Eris Lifesciences
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Company Information
ERIS Lifesciences Ltd is engaged in the business of manufacture and marketing of pharmaceutical products.[1]
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