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Wockhardt

WOCKPHARMA NSE

Key Fundamentals

SmallcapPharmaceuticalsHealthcare
Market Cap
₹34,143 Cr
Volatility
Moderate
P/E Ratio
82.79
EBITDA
₹763 Cr
Return on Equity
3.77%
Debt to Equity
0.45
Book Value
₹304.03
52W High
₹2,422.3
52W Low
₹1,086.7

Tapetide Score

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

Key Insights

Weaknesses

4
  • Stock is trading at 6.85 times its book value
  • The company has delivered a poor sales growth of 4.49% over past five years.
  • Company has a low return on equity of -1.43% over last 3 years.
  • Promoter holding has decreased over last 3 years: -6.05%

Growth Rate

Revenue Growth
13.34% higher than 3Y
Net Income Growth
-449% lower than 3Y
Cash Flow Change
—
ROE
-409% lower than 3Y
ROCE
64.96% higher than 3Y
EBITDA Margin (Avg.)
47.97% lower than 3Y

AI Analysis — Bull vs Bear

7d ago
AI opinion · based on fundamentals
Risk high

Wockhardt trades at a P/E of 89.9 and a P/B of 7.53, with a market cap of about Rs 37,116 crore, after a 70% stock gain over one year and a 114% CAGR over three years. The company has turned profitable, posting a Q4FY26 net profit of Rs 164 crore against a Rs 45 crore loss a year earlier, and it received US FDA approval for its novel antibiotic Zaynich on 30 May 2026. Its longer-term record is weaker: 5-year sales CAGR of 4%, 10-year sales CAGR of -3%, 3-year average ROE of -1% and a 9.31% drop in promoter holding over three years.

Bull Case 8
  • The US FDA approved Zaynich (cefepime-zidebactam) on 30 May 2026. It is a novel intravenous antibiotic for complicated urinary tract infections, including pyelonephritis, caused by susceptible Gram-negative pathogens, and it is the company's first innovator drug approved in the US.
  • Q4FY26 revenue grew 30% year-on-year to Rs 965 crore from Rs 743 crore. Net profit was Rs 164 crore against a net loss of Rs 45 crore in Q4FY25, led by biosimilars.
  • Momentum is picking up: TTM sales growth of 18% is well above the 3-year CAGR of 8% and the 5-year CAGR of 4%, and TTM profit growth is 983% off a low base.
  • Debt has been cut from Rs 3,213 crore in FY20 to Rs 1,859 crore in FY25, about a 42% reduction, which strengthens the balance sheet.
  • ROE rose to 6% last year from a 3-year average of -1% and a 5-year average of -3%, as the company moved back to profitability.
  • Operating efficiency improved: 9MFY25 EBITDA grew 89% to Rs 339 crore from Rs 180 crore, and EBITDA margin rose 636 bps to 15%.
  • Compounded profit growth over three years is 43%, pointing to a multi-year turnaround rather than a one-quarter jump.
  • Q2FY26 net profit was Rs 82 crore against a Rs 16 crore loss in Q2FY25, making it the second profitable quarter in FY26.
Bear Case 8
  • The valuation is high, with a P/E of 89.9 and a P/B of 7.53. This leaves little room for execution slippage in the Zaynich launch or the core business.
  • Long-term growth is weak: 5-year sales CAGR is 4.49% and 10-year sales CAGR is -3%, so revenue today is structurally below where it was a decade ago.
  • Returns on capital have been poor, with a 3-year average ROE of -1.43% and a 5-year average of -3%. Even last year's 6% ROE is low for the valuation.
  • Promoter holding fell 9.31% over the last three years, which may point to dilution or promoter stake sales during the turnaround.
  • Profits are recent and volatile. The 5-year profit CAGR is -19%, and H1FY26 still showed a net loss of Rs 26 crore before the Q2 and Q4 profits.
  • Debt of Rs 1,859 crore in FY25 is still significant. Commercialising a new antibiotic in the US may need more spending before revenue grows.
  • Zaynich's initial label covers only complicated UTI. New antibiotics have historically been slow to gain uptake in the US hospital market, so near-term revenue from the drug is uncertain.
  • The stock is volatile. It fell about 7% right after a 36% rally over five sessions around the FDA approval, and the dividend yield is 0%, so returns depend entirely on price movement.

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

AI News Digest

4h ago
Headwinds 4
  • Stretched valuation at 108x P/E Sep 7

    The stock trades at a P/E of 108.36 on trailing earnings. After a 56% gain year-to-date, that leaves little room for any earnings disappointment.

  • Volume below monthly average Sep 7

    Session volume was 9.14 lakh shares against a one-month daily average of 10.16 lakh. The rally may be losing some conviction at these levels.

  • Weak broader market backdrop Sep 7

    The Nifty fell about 0.5% and the Sensex dropped 0.63% to 75,654.76. A wider risk-off move could weigh on high-beta momentum stocks like Wockhardt.

  • Near 52-week high resistance Sep 7

    The stock is about 9% below its 52-week high of ₹2,422.30. It may meet profit-taking or resistance as it gets closer.

Positives 5
  • Zaynich wins USFDA approval Sep 7

    On June 1, the USFDA approved WCK 5222 (Zaynich) for complicated UTIs, and the stock jumped over 19% intraday. It is the first India-discovered antibiotic to get US clearance, approved less than a year after the October 2025 NDA filing.

  • Q1 swing to ₹106 cr profit Sep 7

    Consolidated net profit was ₹106 crore, compared with a ₹90 crore loss a year ago. Revenue rose 26% to ₹929 crore from ₹738 crore.

  • EBITDA margin more than doubles Sep 7

    EBITDA rose to ₹192 crore from ₹72 crore. Margin expanded to 20.67% from 9.76% year-on-year.

  • Five-session winning streak Sep 7

    Shares rose as much as 7.1% to an intraday high of ₹2,236, the fifth straight day of gains. The stock was the top Nifty Pharma gainer and has risen in 7 of the last 10 sessions.

  • Strong multi-period returns Sep 7

    The stock is up nearly 19% month-to-date, 14.64% over one month, more than 56% year-to-date and more than 52% over 12 months.

Neutral 2
  • Conflicting intraday price data Sep 7

    Reports show different figures: up 7.1% to ₹2,236 intraday, 5% higher at ₹2,192 at 1:20 pm, and ₹2,214, up only 0.27%, at 12:44 IST. The article also mixes Monday and Tuesday (Sep 8), so the exact daily move is unclear.

  • Nifty Pharma modestly positive Sep 7

    The Nifty Pharma index was at 26,675.5, up 0.72% on the day and 1.46% over the past month. Wockhardt's gains are well ahead of the sector.

TL;DR: Wockhardt is benefiting from a real change in its business: Q1 profit swung to ₹106 crore, revenue grew 26%, margins more than doubled to 20.67%, and the landmark USFDA approval of Zaynich has re-rated its innovation story. The stock is outperforming both the weak broader market and its sector, with a five-session winning streak and gains of more than 56% year-to-date. The main risks are a stretched P/E of about 108x, below-average volumes and possible resistance near the ₹2,422 52-week high. The trend is still improving, but further upside will likely depend on Zaynich's US commercial ramp-up and sustained margin gains to justify the premium valuation.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
644
753
701
700
739
809
721
743
738
782
888
965
929
Expenses
628
681
664
759
648
699
593
679
666
604
711
740
737
Operating Profit
16
72
37
-59
91
110
128
64
72
178
177
225
192
OPM %
2.5%
10%
5%
-8%
12%
14%
18%
9%
10%
23%
20%
23%
21%
Other Income
0
24
8
10
30
9
8
15
-77
21
15
67
31
Interest
79
76
77
73
73
73
60
48
48
55
60
50
52
Depreciation
55
55
55
58
54
55
55
53
56
53
65
53
55
PBT
-118
-35
-87
-180
-6
-9
21
-22
-109
91
67
189
116
Tax %
15%
109%
-1%
-2%
167%
78%
5%
105%
-1%
10%
9%
13%
8%
Net Profit
-136
-73
-86
-177
-16
-16
20
-45
-108
82
61
164
107
EPS in Rs
-9.3
-5.34
-5.76
-11.02
-0.91
-1.43
0.86
-1.54
-5.54
4.8
3.63
10.22
6.52
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,482
4,453
4,015
3,937
3,566
2,844
2,708
3,230
2,651
2,798
3,012
3,373
3,564
Expenses
3,772
3,959
4,002
3,935
3,604
2,725
2,771
2,932
2,549
2,707
2,619
2,721
2,792
Operating Profit
709
494
13
2
-38
119
-63
298
102
91
393
652
772
OPM %
16%
11%
0.3%
0.1%
-1.1%
4.2%
-2.3%
9%
3.9%
3.2%
13%
19%
22%
Other Income
67
66
114
-238
116
133
975
-163
-173
17
62
26
134
Interest
55
129
225
255
265
276
249
299
302
305
254
213
217
Depreciation
145
142
149
150
164
224
246
247
251
223
217
227
226
PBT
575
289
-247
-641
-351
-247
417
-411
-624
-420
-16
238
463
Tax %
28%
13%
-9%
4%
-38%
-82%
-65%
-32%
0%
12%
256%
16%
—
Net Profit
413
252
-226
-667
-217
-43
688
-279
-621
-472
-57
199
414
EPS in Rs
28.3
17.45
-13.62
-42.3
-13.52
-4.81
47.64
-16.94
-38.8
-30.18
-2.89
13.11
25.17
Div. Payout %
54%
0%
-56%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
55
55
55
55
55
55
55
72
72
77
81
81
Reserves
3,362
3,720
3,281
2,797
2,619
2,616
3,321
3,777
3,282
3,282
4,272
4,859
Borrowings
2,309
2,677
4,160
3,748
3,375
3,582
2,674
2,198
2,184
2,356
2,021
2,233
Other Liabilities
1,213
1,622
1,486
1,528
1,764
1,894
1,696
2,168
2,113
1,899
1,726
1,405
Total Liabilities
6,939
8,074
8,982
8,128
7,813
8,148
7,746
8,215
7,651
7,614
8,100
8,578
Fixed Assets
2,123
2,809
2,773
2,888
3,058
3,502
3,343
3,462
3,042
2,881
2,736
2,791
CWIP
1,007
1,036
1,244
1,433
1,445
1,585
1,379
1,342
1,539
1,722
2,033
2,379
Investments
341
0
563
214
0
0
0
0
0
0
422
412
Other Assets
3,468
4,228
4,403
3,593
3,309
3,060
3,024
3,411
3,070
3,011
2,909
2,996
Total Assets
6,939
8,074
8,982
8,128
7,813
8,148
7,746
8,215
7,651
7,614
8,100
8,578
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
355
-42
-269
68
183
649
-287
413
153
219
-22
390
Investing
-222
-105
-684
635
93
-147
1,471
-204
-118
-138
-780
-231
Financing
-76
193
1,254
-769
-776
-680
-1,171
-71
-315
334
409
-54
Net Cash Flow
57
46
301
-66
-500
-178
13
138
-280
415
-393
105
Free Cash Flow
-76
-105
-678
-238
127
486
-452
202
23
69
-377
76
CFO/OP
73
-8
-1,887
4,697
-583
560
270
171
161
274
-13
63
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
60
91
94
89
130
159
124
104
110
81
80
64
Inventory Days
250
249
243
174
183
209
256
222
216
201
234
286
Days Payable
136
144
117
122
187
272
223
265
285
240
191
182
Cash Conversion Cycle
175
196
220
141
126
97
157
60
41
41
123
168
Working Capital Days
14
52
36
-56
-51
-171
-133
-116
-186
-163
-23
35
ROCE %
10%
7%
-1%
-1%
-1%
-1%
-3%
1%
0%
-1%
4%
8%

Insights

Beta

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

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Shareholding Pattern

Others7.13%Govt.0.02%Promot.49.08%FIIs7.22%DIIs9.24%Public27.31%As ofJun 2026
14.68% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Wockhardt

What does Wockhardt Ltd do?
Wockhardt is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments). [1]
Where is Wockhardt Ltd (WOCKPHARMA) listed?
Wockhardt Ltd trades as WOCKPHARMA on the NSE and under code 532300 on the BSE.
Which sector does Wockhardt Ltd belong to?
Wockhardt Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Wockhardt Ltd?
Wockhardt Ltd has a market capitalisation of ₹34,143 Cr, which places it in the Large Cap band.
What is the PE ratio of Wockhardt Ltd?
Wockhardt Ltd trades at a PE ratio of 82.79, against a book value of ₹304.03 per share.
What is the 52-week high and low of Wockhardt Ltd?
Over the last 52 weeks Wockhardt Ltd has traded between ₹1,086.7 and ₹2,422.3.
What is the Return on Equity (ROE) of Wockhardt Ltd?
Wockhardt Ltd reported a return on equity of 3.77%. Its debt-to-equity ratio is 0.45.

Company Information

Wockhardt is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments). [1]

Website wockhardt.com
CEO Dr. Habil Fakhruddin Khorakiwala
Employees 2,296
Listed 2000-02-23
Face Value ₹ 5
Issued Size 16,24,92,169

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