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Last Updated: April 2, 2026, 3:07 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 524494 | NSE: IPCALAB

Ipca Laboratories Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,089.05Overvalued by 27.78%vs CMP ₹1,508.00

P/E (36.2) × ROE (12.8%) × BV (₹293.00) × DY (0.27%)

₹603.87Overvalued by 59.96%vs CMP ₹1,508.00
MoS: -149.7% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,095.2922%Over (-27.4%)
Graham NumberEarnings₹486.2216%Over (-67.8%)
Earnings PowerEarnings₹133.2911%Over (-91.2%)
DCFCash Flow₹366.9113%Over (-75.7%)
Net Asset ValueAssets₹292.707%Over (-80.6%)
EV/EBITDAEnterprise₹788.649%Over (-47.7%)
Earnings YieldEarnings₹358.607%Over (-76.2%)
ROCE CapitalReturns₹814.319%Over (-46%)
Revenue MultipleRevenue₹525.955%Over (-65.1%)
Consensus (9 models)₹603.87100%Overvalued
Key Drivers: Wide model spread (₹133–₹1,095) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 0.6%

*Investments are subject to market risks

Investment Snapshot

69
Ipca Laboratories Ltd scores 69/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health81/100 · Strong
ROCE 14.7% GoodROE 12.8% GoodD/E 0.05 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 1.26% MF buyingPromoter holding at 44.7% Stable
Earnings Quality50/100 · Moderate
OPM stable around 18% Steady
Quarterly Momentum80/100 · Strong
Revenue (4Q): +9% YoY GrowingProfit (4Q): +30% YoY Strong
Industry Rank65/100 · Strong
P/E 36.2 vs industry 53.8 Cheaper than peersROCE 14.7% vs industry 16.4% Average3Y sales CAGR: 15% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:07 am

Market Cap 38,264 Cr.
Current Price 1,508
Intrinsic Value₹603.87
High / Low 1,624/1,168
Stock P/E36.2
Book Value 293
Dividend Yield0.27 %
ROCE14.7 %
ROE12.8 %
Face Value 1.00
PEG Ratio63.17

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ipca Laboratories Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ipca Laboratories Ltd 38,264 Cr. 1,508 1,624/1,16836.2 2930.27 %14.7 %12.8 % 1.00
Glaxosmithkline Pharmaceuticals Ltd 39,458 Cr. 2,329 3,516/2,21839.2 1011.80 %63.2 %46.9 % 10.0
Ajanta Pharma Ltd 35,192 Cr. 2,817 3,228/2,02234.7 3450.99 %32.4 %24.9 % 2.00
J B Chemicals & Pharmaceuticals Ltd 32,253 Cr. 2,009 2,195/1,30342.8 2430.77 %25.8 %20.1 % 1.00
Gland Pharma Ltd 28,107 Cr. 1,706 2,131/1,20023.7 6101.06 %15.8 %11.6 % 1.00
Industry Average19,815.15 Cr1,053.8453.84201.200.39%16.35%15.16%6.10

All Competitor Stocks of Ipca Laboratories Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,5461,5121,5852,0342,0532,0332,0932,3552,2452,2472,3092,5562,392
Expenses 1,3301,3311,2781,6731,7221,7111,7001,9131,7821,8181,8922,0121,859
Operating Profit 216181308361331322393441463429416545533
OPM % 14%12%19%18%16%16%19%19%21%19%18%21%22%
Other Income 313645-191-118212620-17933-3038
Interest 11183144332924231722192018
Depreciation 67706990100989910098100100103108
Profit before tax 16912925222528977290345368128331392446
Tax % 32%37%34%39%23%96%31%29%25%49%29%28%18%
Net Profit 11078164136221119924627664233281364
EPS in Rs 4.253.026.425.727.092.357.589.059.782.679.1911.1412.86

Last Updated: March 4, 2026, 8:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 2:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3,2823,1442,8673,1563,2583,7464,6195,3955,7976,2047,6628,8979,505
Expenses 2,5392,6042,5732,7052,8033,0513,7153,8434,4725,2726,3387,1667,581
Operating Profit 7435412944514556959041,5521,3259321,3241,7311,924
OPM % 23%17%10%14%14%19%20%29%23%15%17%19%20%
Other Income 21322111415665595412317-114-139
Interest 303235272822201211481418877
Depreciation 103180163173178182210209232262357398411
Profit before tax 6313611172622915467391,3891,1367458431,1311,296
Tax % 24%28%18%26%18%19%18%17%20%34%37%30%
Net Profit 479254931952394426041,141890479523785941
EPS in Rs 18.9610.073.697.719.4917.6023.9944.9434.8518.5821.5729.0835.86
Dividend Payout % 13%5%0%6%5%9%10%9%11%22%19%14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-46.97%-63.39%109.68%22.56%84.94%36.65%88.91%-22.00%-46.18%9.19%50.10%
Change in YoY Net Profit Growth (%)0.00%-16.41%173.06%-87.11%62.37%-48.29%52.26%-110.91%-24.18%55.37%40.91%

Ipca Laboratories Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:14%
3 Years:15%
TTM:11%
Compounded Profit Growth
10 Years:13%
5 Years:7%
3 Years:-1%
TTM:44%
Stock Price CAGR
10 Years:14%
5 Years:6%
3 Years:15%
1 Year:-7%
Return on Equity
10 Years:13%
5 Years:14%
3 Years:10%
Last Year:13%

Last Updated: September 5, 2025, 7:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:27 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 25252525252525252525252525
Reserves 1,9342,1832,2342,4302,6633,0973,6024,6765,4395,8176,3076,9237,402
Borrowings 6039358677166284655012658071,4811,4381,3631,279
Other Liabilities 6486697657887999611,1301,0991,3491,3003,3263,4323,557
Total Liabilities 3,2113,8123,8923,9604,1164,5495,2586,0667,6228,62311,09711,74412,263
Fixed Assets 1,3541,8002,0141,9831,9531,9402,0592,0722,4022,7514,5544,2674,371
CWIP 165267129957366133235306140343622777
Investments 91626136871203105059896268629801,203
Other Assets 1,6831,7291,7231,7462,0032,4222,7563,2543,9245,1055,3395,8755,912
Total Assets 3,2113,8123,8923,9604,1164,5495,2586,0667,6228,62311,09711,74412,263

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 5224687092823415015701,0908568069451,321
Cash from Investing Activity + -369-689-218-149-135-165-509-521-851-725-1,215-870
Cash from Financing Activity + -136251-462-159-130-183-137-306427507-553-283
Net Cash Flow 182929-2675153-76264432588-823169
Free Cash Flow 144-207463147206322277731380347543551
CFO/OP 88%100%251%74%88%88%80%86%80%110%94%97%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow140.00-394.00-573.00-265.00-173.00230.00403.00-264.00-806.00931.000.000.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 504157586766715557588077
Inventory Days 272293289290286316294337337276350336
Days Payable 1109714513013715413514010183110111
Cash Conversion Cycle 213237200218216228229251293251321302
Working Capital Days 8268617480888810310271111101
ROCE %28%14%5%9%10%16%19%31%20%11%13%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 46.29%46.29%46.29%46.29%46.30%46.30%46.30%44.72%44.72%44.72%44.72%44.72%
FIIs 10.58%10.05%9.86%10.27%10.51%10.85%10.83%11.06%10.75%10.67%10.42%10.62%
DIIs 33.74%34.86%34.72%34.19%34.05%33.46%33.90%35.36%35.73%35.88%36.45%36.99%
Government 0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%
Public 9.06%8.46%8.80%8.93%8.82%9.07%8.64%8.53%8.45%8.41%8.09%7.33%
No. of Shareholders 1,10,29699,88995,93082,80981,16584,75382,97590,18988,30685,58282,87077,673

Shareholding Pattern Chart

No. of Shareholders

Ipca Laboratories Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Mid Cap Fund 17,994,512 2.87 2646.6317,920,3692026-02-23 07:11:400.41%
Kotak Midcap Fund 12,005,038 2.99 1765.7N/AN/AN/A
DSP Mid Cap Fund 4,290,936 3.31 631.114,637,7282026-02-23 08:52:00-7.48%
Nippon India Growth Mid Cap Fund 3,100,000 1.09 455.95N/AN/AN/A
Axis Midcap Fund 2,635,419 1.25 387.621,810,2342026-02-23 08:52:0045.58%
Kotak Large & Midcap Fund 2,510,000 1.23 369.17N/AN/AN/A
HDFC Balanced Advantage Fund 2,497,123 0.34 367.28N/AN/AN/A
DSP Small Cap Fund 2,101,047 1.92 309.022,320,0002026-02-23 08:52:00-9.44%
DSP Large & Mid Cap Fund 1,949,082 1.64 286.671,950,1962026-02-23 08:52:00-0.06%
DSP ELSS Tax Saver Fund 1,856,293 1.59 273.021,857,3992026-02-23 08:52:00-0.06%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.002.00
Basic EPS (Rs.) 35.1425.8218.5834.8545.01
Diluted EPS (Rs.) 29.0821.5718.5834.8545.01
Cash EPS (Rs.) 46.7234.9429.7045.07107.06
Book Value[Excl.RevalReserv]/Share (Rs.) 273.88304.57233.16219.51371.79
Book Value[Incl.RevalReserv]/Share (Rs.) 273.88304.57233.16219.51371.79
Revenue From Operations / Share (Rs.) 352.37303.71246.13229.79427.28
PBDIT / Share (Rs.) 71.7056.9941.4854.23126.70
PBIT / Share (Rs.) 56.0242.9131.1745.07110.21
PBT / Share (Rs.) 44.5933.2229.3844.77109.50
Net Profit / Share (Rs.) 31.0420.8619.3935.9190.57
NP After MI And SOA / Share (Rs.) 29.0821.5718.5834.8589.87
PBDIT Margin (%) 20.3418.7616.8523.5929.65
PBIT Margin (%) 15.8914.1212.6619.6125.79
PBT Margin (%) 12.6510.9311.9319.4825.62
Net Profit Margin (%) 8.806.867.8715.6221.19
NP After MI And SOA Margin (%) 8.257.107.5415.1621.03
Return on Networth / Equity (%) 10.618.648.0616.0924.24
Return on Capital Employeed (%) 15.1512.4411.5918.5228.48
Return On Assets (%) 6.274.935.4611.5718.78
Long Term Debt / Equity (X) 0.070.090.110.070.00
Total Debt / Equity (X) 0.180.210.240.140.05
Asset Turnover Ratio (%) 0.780.780.760.790.91
Current Ratio (X) 2.632.352.873.042.96
Quick Ratio (X) 1.551.301.911.771.59
Inventory Turnover Ratio (X) 3.551.050.940.951.10
Dividend Payout Ratio (NP) (%) 13.759.2721.5311.478.90
Dividend Payout Ratio (CP) (%) 8.935.6013.849.087.52
Earning Retention Ratio (%) 86.2590.7378.4788.5391.10
Cash Earning Retention Ratio (%) 91.0794.4086.1690.9292.48
Interest Coverage Ratio (X) 21.4210.4623.11178.91177.79
Interest Coverage Ratio (Post Tax) (X) 12.695.6111.80119.46128.08
Enterprise Value (Cr.) 40485.2733899.8720234.9027148.8824038.82
EV / Net Operating Revenue (X) 4.534.403.244.664.44
EV / EBITDA (X) 22.2623.4519.2319.7314.96
MarketCap / Net Operating Revenue (X) 4.264.083.294.624.45
Retention Ratios (%) 86.2490.7278.4688.5291.09
Price / BV (X) 5.484.963.524.905.13
Price / Net Operating Revenue (X) 4.264.083.294.624.45
EarningsYield 0.010.010.020.030.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ipca Laboratories Ltd. is a Public Limited Listed company incorporated on 19/10/1949 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L24239MH1949PLC007837 and registration number is 007837. Currently Company is involved in the business activities of Manufacture of allopathic pharmaceutical preparations. Company's Total Operating Revenue is Rs. 6677.92 Cr. and Equity Capital is Rs. 25.37 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Pharmaceuticals48, Kandivli Industrial Estate, Kandivli (West), Mumbai Maharashtra 400067Contact not found
Management
NamePosition Held
Mr. Premchand GodhaExecutive Chairman
Mr. Ajit Kumar JainManaging Director & CFO
Mr. Pranay GodhaManaging Director & CEO
Mr. Prashant GodhaExecutive Director
Dr.(Ms.) Swati PatankarIndependent Director
Dr. Narendra MairpadyIndependent Director
Mr. Vivek ShiralkarIndependent Director
Mr. Kamal Kishore SethIndependent Director

FAQ

What is the intrinsic value of Ipca Laboratories Ltd and is it undervalued?

As of 14 April 2026, Ipca Laboratories Ltd's intrinsic value is ₹603.87, which is 59.96% lower than the current market price of ₹1,508.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.8 %), book value (₹293), dividend yield (0.27 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ipca Laboratories Ltd?

Ipca Laboratories Ltd is trading at ₹1,508.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,624 and low of ₹1,168. The stock is currently in the middle of its 52-week range. Market cap stands at ₹38,264 Cr..

How does Ipca Laboratories Ltd's P/E ratio compare to its industry?

Ipca Laboratories Ltd has a P/E ratio of 36.2, which is below the industry average of 53.84. This is broadly in line with or below the industry average.

Is Ipca Laboratories Ltd financially healthy?

Key indicators for Ipca Laboratories Ltd: ROCE of 14.7 % is moderate. Dividend yield is 0.27 %.

Is Ipca Laboratories Ltd profitable and how is the profit trend?

Ipca Laboratories Ltd reported a net profit of ₹785 Cr in Mar 2025 on revenue of ₹8,897 Cr. Compared to ₹890 Cr in Mar 2022, the net profit shows a declining trend.

Does Ipca Laboratories Ltd pay dividends?

Ipca Laboratories Ltd has a dividend yield of 0.27 % at the current price of ₹1,508.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ipca Laboratories Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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