Orchid Pharma
ORCHPHARMA NSE
Orchid Pharma
HealthcareNSE: ORCHPHARMA BSE: 524372 Pharmaceuticals
Key Fundamentals
MicrocapPharmaceuticalsHealthcareMarket Cap
₹4,967 Cr
Volatility
Moderate
P/E Ratio
477.64
EBITDA
₹34.02 Cr
Return on Equity
7.56%
Debt to Equity
0.28
Book Value
₹216.57
EPS
₹21.99
52W High
₹1,133
52W Low
₹480
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
6- Stock is trading at 3.95 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 6.12% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.18.6 Cr.
Growth Rate
Revenue Growth
-14.54% lower than
3Y
Net Income Growth
-78.06% lower than
3Y
Cash Flow Change
-84.74% lower than
3Y
ROE
-7.01% lower than
3Y
ROCE
-6.21% higher than
3Y
EBITDA Margin (Avg.)
-73.62% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 44d agoAI opinion · based on fundamentals
Risk high
Orchid Pharma Ltd is a mid-cap pharmaceutical company with a market capitalization of ₹5,031 Cr trading at a PE of 246.7x. While the company has shown a 3-year compounded profit growth of 63% and stock CAGR of 21% over 3 years, TTM sales have declined 12% and TTM profit has fallen 73%, with ROE remaining subdued at around 6% over 3 years.
Bull Case 7
- Strong 3-year compounded profit growth of 63%, indicating meaningful earnings recovery from a low base
- FY2024 sales reached ₹922 Cr, up 13% year-over-year, and 9M FY25 sales of ₹684 Cr grew 14% vs 9M FY24 (₹602 Cr)
- 9M FY25 EBITDA improved to ₹115 Cr (17% margin) from ₹99 Cr (16% margin) in 9M FY24, showing margin expansion
- Low debt-to-equity ratio of approximately 0.12x, indicating a relatively clean balance sheet post-restructuring
- Stock price CAGR of 38% over 10 years and 21% over 3 years reflects sustained market re-rating
- 5-year compounded sales growth of 13% shows a medium-term revenue expansion trend
- 9M FY25 PBT and PAT improved to ₹78 Cr from ₹62 Cr in 9M FY24, a 26% increase on a year-to-date basis
Bear Case 8
- PE ratio of 246.7x is extremely elevated, implying the stock prices in significant future growth that may not materialize
- TTM sales declined 12% and TTM profit collapsed 73%, signaling a sharp recent deterioration
- 3-year average ROE of only 6.41% is low for a pharma company trading at 3.94x book value
- Company pays zero dividend despite reporting repeated profits, offering no income return to shareholders
- Earnings quality concern: other income of ₹28.6 Cr forms a significant portion of profits, and company may be capitalizing interest costs
- 10-year compounded sales growth is negative at -1%, reflecting a long history of revenue stagnation
- Q3 FY25 standalone sales of ₹217 Cr declined from ₹221 Cr in Q3 FY24, and EBITDA fell to ₹37 Cr from ₹43 Cr, showing quarterly momentum weakening
- Tax rate appears low, raising questions about the sustainability of reported net profits at current levels
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 42d ago Positives 1
- Russia licensing deal for Exblifep Jul 7
Orchid Pharma signed a licensing pact with Pharmasyntez JSC for Exblifep in Russia, representing a potential USD 178 million opportunity over 10 years.
Neutral 2
- Dhanuka merger effective, share allotment Jul 10
Merger with Dhanuka Laboratories became effective on July 10, 2026 after NCLT order filing. Board meeting scheduled Aug 01 to approve equity share allotment to Dhanuka shareholders.
- Singapore investor roadshow planned Jul 25
Physical investor roadshow in Singapore scheduled for July 29-31, 2026, led by WTD Mridul Dhanuka with no UPSI to be shared.
TL;DR: Orchid Pharma is executing on international expansion with a meaningful USD 178M Russia licensing deal for Exblifep, while completing the Dhanuka Laboratories merger and actively engaging overseas investors. No visible headwinds in recent news flow. The trend is constructive with the company building commercial partnerships and consolidating its corporate structure.
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 | 183 | 199 | 221 | 217 | 244 | 223 | 217 | 237 | 263 | 194 | 207 | 368 | 304 |
| Expenses | 161 | 175 | 185 | 188 | 212 | 192 | 191 | 209 | 269 | 195 | 206 | 338 | 290 |
| Operating Profit | 22.14 | 23.3 | 35.38 | 28.91 | 32.49 | 30.34 | 26.37 | 27.99 | -5.65 | -1.47 | 1.56 | 30.16 | 14 |
| OPM % | 12.1% | 11.72% | 16.04% | 13.32% | 13.29% | 13.62% | 12.13% | 11.79% | -2.15% | -0.76% | 0.75% | 8.19% | 4.6% |
| Other Income | 1.89 | 8.36 | 7.62 | 13.36 | 7.57 | 7.52 | 8.49 | 3.9 | 11.57 | 10.77 | -1.5 | 7.55 | 1.83 |
| Interest | 5.55 | 3.8 | 3.54 | 3.47 | 3.5 | 3.33 | 3.8 | 3.92 | 2.28 | 3.73 | 3.18 | 1.96 | 2.23 |
| Depreciation | 7.71 | 7.84 | 9.27 | 8.42 | 8.44 | 8.63 | 8.61 | 8.87 | 10.53 | 8.9 | 9.03 | 10.9 | 10.95 |
| PBT | 10.77 | 20.02 | 30.19 | 30.38 | 28.12 | 25.9 | 22.45 | 19.1 | -6.89 | -3.33 | -12.15 | 24.85 | 2.65 |
| Tax % | 0% | 0% | 0% | -10.27% | -0.53% | 0% | 0% | -0.21% | 0% | 0% | 0% | 0% | 2.64% |
| Net Profit | 9.4 | 19.8 | 29.43 | 32.96 | 29.35 | 27.24 | 20.78 | 22.29 | -5.69 | -5.72 | -12.61 | 25.84 | 3.22 |
| EPS in Rs | 1.85 | 3.9 | 5.8 | 6.5 | 5.79 | 5.37 | 4.1 | 4.39 | -1.12 | -1.13 | -2.49 | 5.09 | 0.63 |
Profit & Loss
| Particulars | Mar 2015 18m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,747 | 873 | 797 | 683 | 600 | 484 | 450 | 560 | 666 | 819 | 922 | 1,233 | 1,073 |
| Expenses | 1,429 | 703 | 794 | 659 | 612 | 515 | 421 | 505 | 581 | 708 | 804 | 1,199 | 1,029 |
| Operating Profit | 317 | 171 | 3 | 24 | -12 | -31 | 29 | 55 | 84 | 111 | 118 | 34 | 44 |
| OPM % | 18% | 20% | 0.4% | 3.6% | -2% | -6% | 7% | 10% | 13% | 14% | 13% | 2.7% | 4.1% |
| Other Income | 156 | -28 | -59 | 20 | 218 | 24 | 15 | 67 | 52 | 31 | 27 | 29 | 19 |
| Interest | 537 | 294 | 347 | 310 | 7 | 6 | 52 | 33 | 33 | 17 | 15 | 9 | 11 |
| Depreciation | 325 | 145 | 141 | 133 | 130 | 118 | 109 | 87 | 55 | 33 | 35 | 43 | 40 |
| PBT | -389 | -296 | -544 | -399 | 69 | -131 | -117 | 2 | 48 | 92 | 96 | 10 | 12 |
| Tax % | -49% | -6% | -9% | -12% | 0% | 0% | 0% | 0% | 0% | -3% | 0% | -2% | — |
| Net Profit | -197 | -279 | -495 | -353 | 69 | -131 | -117 | -2 | 46 | 92 | 100 | 10 | 11 |
| EPS in Rs | -23.06 | -31.37 | -55.69 | -39.65 | 7.8 | -32.11 | -28.55 | -0.48 | 11.35 | 18.17 | 19.65 | 1.96 | 2.1 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
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 | 85 | 89 | 89 | 89 | 89 | 41 | 41 | 41 | 41 | 51 | 51 | 51 |
| Reserves | 244 | -40 | -556 | -881 | -793 | 725 | 612 | 607 | 648 | 1,119 | 1,217 | 1,237 |
| Borrowings | 3,211 | 3,215 | 3,106 | 3,202 | 3,230 | 566 | 453 | 268 | 331 | 135 | 175 | 363 |
| Other Liabilities | 521 | 598 | 616 | 715 | 551 | 128 | 132 | 195 | 205 | 249 | 246 | 261 |
| Total Liabilities | 4,061 | 3,862 | 3,256 | 3,125 | 3,077 | 1,460 | 1,237 | 1,111 | 1,225 | 1,554 | 1,688 | 1,911 |
| Fixed Assets | 1,795 | 1,637 | 1,497 | 1,386 | 1,256 | 858 | 670 | 584 | 573 | 620 | 633 | 692 |
| CWIP | 282 | 280 | 288 | 272 | 278 | 26 | 7 | 10 | 46 | 31 | 81 | 341 |
| Investments | 1 | 1 | 1 | 1 | 0 | 0 | 15 | 45 | 44 | 46 | 50 | 53 |
| Other Assets | 1,984 | 1,944 | 1,470 | 1,467 | 1,542 | 576 | 544 | 472 | 561 | 857 | 925 | 826 |
| Total Assets | 4,061 | 3,862 | 3,256 | 3,125 | 3,077 | 1,460 | 1,237 | 1,111 | 1,225 | 1,554 | 1,688 | 1,911 |
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 | -369 | 212 | 401 | 9 | 12 | 81 | 24 | 92 | 18 | 126 | 19 | 101 |
| Investing | 1,334 | -1 | -176 | -28 | 45 | 167 | 67 | 113 | -31 | -312 | -27 | -285 |
| Financing | -597 | -286 | -465 | 33 | 0 | -250 | -165 | -217 | 31 | 167 | 25 | 170 |
| Net Cash Flow | 367 | -76 | -240 | 15 | 57 | -2 | -74 | -11 | 18 | -19 | 18 | -14 |
| Free Cash Flow | 965 | 211 | 392 | 3 | 5 | 77 | 23 | 238 | -8 | 61 | -131 | -273 |
| CFO/OP | -102 | 124 | 13,628 | 67 | -138 | -226 | 63 | 173 | 22 | 113 | 17 | 293 |
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 | 54 | 130 | 75 | 64 | 73 | 51 | 110 | 111 | 118 | 87 | 96 | 78 |
| Inventory Days | 118 | 220 | 196 | 202 | 214 | 254 | 244 | 201 | 217 | 199 | 219 | 111 |
| Days Payable | 146 | 341 | 402 | 374 | 381 | 182 | 176 | 195 | 165 | 173 | 149 | 99 |
| Cash Conversion Cycle | 26 | 9 | -130 | -108 | -94 | 123 | 179 | 117 | 170 | 113 | 166 | 90 |
| Working Capital Days | -49 | -168 | -500 | -876 | -1,158 | 166 | 302 | 97 | 54 | 118 | 135 | 95 |
| ROCE % | 1% | 1% | -4% | -4% | -5% | -6% | -5% | -2% | 5% | 9% | 8% | 2% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Orchid Pharma insights
70 extracted metrics + investor summaries across FY12–FY26.
Documents
1
Intimation Under Regulation 30
11 Apr - NCLT Chennai dismissed DBS Bank’s CIRP lease-rent claim on April 2, 2026. 11 Apr - NCLT Chennai dismissed DBS Bank’s CIRP lease-rent claim on April 2, 2026.
2
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Apr - Confirmation certificate under Regulation 74(5) of SEBI (Depositories and participants) Regulations, 2018 for the Quarter- IV ended on March 31, 2026 of FY 2025-26. 9 Apr - Confirmation certificate under Regulation 74(5) of SEBI (Depositories and participants) Regulations, 2018 for the Quarter- IV ended on March 31, 2026 of FY 2025-26.
3
Investor Roadshow Scheduled To Be Held On April 10, 2026.
7 Apr - Orchid Pharma to join a physical investor roadshow on April 10, 2026 in Gurugram. 7 Apr - Orchid Pharma to join a physical investor roadshow on April 10, 2026 in Gurugram.
4
Announcement under Regulation 30 (LODR)-Credit Rating
2 Apr - CARE downgraded Orchid Pharma’s ₹207.5 crore long-term rating to BBB+; stable, and reaffirmed ₹84 crore short-term A2. 2 Apr - CARE downgraded Orchid Pharma’s ₹207.5 crore long-term rating to BBB+; stable, and reaffirmed ₹84 crore short-term A2.
5
Closure of Trading Window
27 Mar - Trading window closed from April 1, 2026 until 48 hours after audited results for FY ending March 31, 2026. 27 Mar - Trading window closed from April 1, 2026 until 48 hours after audited results for FY ending March 31, 2026.
3
Notice Of 33Rd Annual General Meeting Of Orchid Pharma Limited (The Company) For The F.Y. 2025-26 7 Sept 2026
Intimation
Frequently Asked Questions about Orchid Pharma
What does Orchid Pharma Ltd do?
Orchid Pharma is a pharmaceutical company engaged in the development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. [1]
Where is Orchid Pharma Ltd (ORCHPHARMA) listed?
Orchid Pharma Ltd trades as ORCHPHARMA on the NSE and under code 524372 on the BSE.
Which sector does Orchid Pharma Ltd belong to?
Orchid Pharma Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Orchid Pharma Ltd?
Orchid Pharma Ltd has a market capitalisation of ₹4,967 Cr, which places it in the Small Cap band.
What is the PE ratio of Orchid Pharma Ltd?
Orchid Pharma Ltd trades at a PE ratio of 477.64, on earnings per share of ₹21.99, against a book value of ₹216.57 per share.
What is the 52-week high and low of Orchid Pharma Ltd?
Over the last 52 weeks Orchid Pharma Ltd has traded between ₹480 and ₹1,133.
What is the Return on Equity (ROE) of Orchid Pharma Ltd?
Orchid Pharma Ltd reported a return on equity of 7.56%. Its debt-to-equity ratio is 0.28.
Company Information
Orchid Pharma is a pharmaceutical company engaged in the development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. [1]
Website orchidpharma.com
CEO Mr. Manish Dhanuka
Employees 736
Listed 2020-11-02
Face Value ₹ 10
Issued Size 5,07,19,105
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