Natco Pharma Limited has submitted to the Exchange, the Audited financial results for the quarter and year ended March 31, 2026.
NATCOPHARM · price
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Natco Pharma reported consolidated revenue of ₹40,783 million for FY26, down ~8% from ₹44,295 million in FY25. Consolidated PAT fell to ₹14,185 million from ₹18,834 million, a decline of ~25%. However, a deferred tax asset of ₹1,150 million was recognised following the Company's election of the lower 22% tax rate under Section 115BAA, which inflated net profit. Excluding this one-time benefit, the underlying profit decline would have been steeper. The auditor issued an unmodified (clean) opinion with no going concern or qualification flags. The Company completed acquisition of 35.75% stake in Adcock Ingram Holdings Limited (South Africa) in November 2025 for ~₹20,791 million, now accounted as an associate contributing ₹466 million to profit. The Board also approved a demerger of the loss-making Agro Chemicals business into a new wholly-owned subsidiary. Total dividend for FY26 is ₹5 per share.
A clean audit and the one-time deferred tax benefit offer some comfort, but the ~8% revenue decline and ~25% PAT decline reflect underlying business stress. The large Adcock Ingram acquisition at ~₹20,791 million increases group risk exposure, and shareholders should monitor integration and returns from the South Africa investment.