BSE: 544694
Accretion Nutraveda Limited
Manufactures ayurvedic and nutraceutical products from a facility at Xcelon Industrial Park in Ahmedabad, Gujarat, and also offers CDMO (contract development and manufacturing) services to other companies. FY26 revenue was Rs. 33.60 crore, up 110% from Rs. 16.00 crore in FY25, with growth driven by demand for its nutraceutical and ayurvedic products, an expanded customer base, a richer product mix and higher CDMO contribution. Profit after tax was Rs. 5.07 crore on EBITDA of Rs. 7.01 crore. The business runs on a very raw-material-heavy cost structure: materials accounted for 73.6% of FY26 revenue, against just 3.2% for employees and 4.6% for other operating expenses. It follows an export-led strategy, winning a Global Export Excellence Award in Ayurvedic and Nutraceutical Manufacturing, and is working on product registrations and market approvals in international markets. The company raised Rs. 24.77 crore through an IPO and listed on the BSE SME platform in February 2026, using Rs. 7.04 crore of the proceeds on machinery, Rs. 5.24 crore on working capital, Rs. 3.69 crore on corporate purposes and Rs. 3.33 crore on IPO expenses, with Rs. 6.55 crore still unutilised. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Nutraceutical products, Ayurvedic products, CDMO services. Small, manufacturing-led ayurvedic and nutraceutical business with contract manufacturing (CDMO) work and an export focus.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 34 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 9.35 |
| ROE % · ROCE % | — · 17.2 |
| Debt / equity (x) | — |
| Cash from operations | (24) |
| Capex | (0) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 20 |
| Profit before tax | 3 |
| Net profit | — |
| EPS (₹) | 4.53 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,20,165 | 34.8 | 5.01 | 22.5 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,51,896 | 86.3 | 15.03 | 65.0 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,56,538 | 73.9 | 8.90 | 38.9 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,17,055 | 26.1 | 3.96 | 15.1 | 17.3 | 18.0 | 12.4 | 25.2 |
| LAURUS LABS LIMITED | 1,15,722 | 105.7 | 21.31 | 64.4 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 1,09,385 | 33.9 | 2.86 | 14.6 | 10.9 | 13.0 | 12.1 | 15.0 |
| CIPLA LTD | 1,09,060 | 32.3 | 3.16 | 16.7 | 11.2 | 14.7 | 8.0 | 19.7 |
| MANKIND PHARMA LIMITED | 1,03,353 | 50.6 | 6.24 | 28.4 | 11.7 | 10.8 | — | 27.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 60.0 | 30.1 | 129 of 158 | 19% |
| ROCE | 15.8 | 10.8 | 57 of 183 | 69% |
| Market cap | 197 | 810 | 112 of 181 | 38% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Board to approve half-year results on 31 October 2026 | results | low | — | — |
| 10 Oct 2026 · Accretion Nutraveda shareholders approve MOA amendments expanding business scope | general | medium | — | — |
| 10 Oct 2026 · All 5 special resolutions passed with 100 percent approval via postal ballot | board shareholder meetings | low | — | — |
| 10 Oct 2026 · Postal Ballot Results: All 5 Special Resolutions Passed with 100% Approval | compliance | minimal | — | — |
| 6 Oct 2026 · Routine compliance certificate on demat rematerialisation for Sep 2026 quarter | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure from Oct 1 for H2 FY26 Results | compliance | minimal | — | — |
| 10 Sept 2026 · Newspaper ad on completion of Postal Ballot Notice dispatch | compliance | minimal | — | — |
| 9 Sept 2026 · Postal ballot: MOA change, borrowing limit raised to Rs 500 crore, related party approvals | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Board approves MoA changes, higher borrowing and investment limits | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board approves broader business scope and higher borrowing limits | general | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.