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Dossier · AMBALAL SARABHAI ENT L · 30 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
AMBALAL SARABHAI ENT L NSE: AMBALALSA · BSE: 500009
Runs two business segments - Pharmaceuticals and Electronics - through group companies, generating consolidated revenue of Rs 202.27 crore in FY26. The Pharmaceuticals business is operated through Asence Pharma and the Electronics business through Systronics India, with Synbiotics as an additional group entity; both segments reported positive EBIT in FY26. Electronics was the faster-growing of the two in Q3 FY26, growing about 34% year-on-year while Pharmaceuticals stayed largely flat. On the cost side, raw materials are only 9.5% of revenue while employees absorb 16.1% and other operating expenses 19.2%, indicating limited direct commodity exposure. Depreciation of 1.9% and capex of 2.1% of revenue point to a low capital-intensity operating model. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceuticals, Electronics. Diversified holding-style group with two operating segments - Pharmaceuticals and Electronics
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
197
170
174
196
202
EBITDA (ex other income)
10
9
6
1
11
margin %
5.0
5.0
3.6
0.6
5.4
Owners' profit
47
11
6
5
18
EPS, as reported (₹)
6.16
1.45
0.74
0.64
2.32
ROE % · ROCE %
39.4 · 39.6
8.5 · 12.2
4.1 · 8.9
3.5 · 5.7
11.2 · 12.1
Debt / equity (x)
0.21
0.31
0.33
0.35
0.33
Cash from operations
11
6
7
(18)
13
Capex
(14)
(21)
(3)
(3)
(4)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · AMBALAL SARABHAI ENT L · 30 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Revenue
41
45
46
65
40
44
52
65
Profit before tax
1
2
3
(2)
8
0
4
6
Net profit
0
3
2
(0)
8
(1)
4
7
EPS (₹)
0.05
0.34
0.29
(0.04)
1.07
0.07
0.40
0.85
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Pharmaceuticals
111
54.6
Electronics
92
45.4
Total, before eliminations
202
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: 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
4,31,490
35.7
5.14
23.1
13.7
17.5
11.8
32.3
DIVI S LABORATORIES LTD
2,60,243
89.1
15.53
67.1
15.3
18.8
8.7
42.8
TORRENT PHARMACEUTICALS L
1,57,330
74.3
8.95
39.1
12.2
8.0
11.8
33.1
LAURUS LABS LIMITED
1,27,267
116.3
23.43
70.7
16.4
17.2
7.2
32.0
ZYDUS LIFESCIENCES LTD
1,24,151
27.7
4.20
15.9
17.3
18.0
12.4
25.2
DR. REDDY S LABORATORIES
1,13,351
35.1
2.96
15.1
10.9
13.0
12.1
15.0
CIPLA LTD
1,10,667
32.8
3.21
16.9
11.2
14.7
8.0
19.7
MANKIND PHARMA LIMITED
1,03,931
50.9
6.28
28.6
11.7
10.8
—
27.3
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
14.5
29.7
32 of 158
80%
P/B
1.7
3.0
45 of 163
72%
ROCE
9.9
10.8
99 of 183
46%
ROE
11.2
9.8
76 of 166
55%
Debt / Equity
0.3
0.2
118 of 166
29%
EBITDA margin
12.7
17.5
104 of 165
37%
Revenue growth
1.0
16.3
122 of 161
24%
Profit growth
2534.9
30.9
2 of 158
99%
Market cap
265
801
106 of 181
42%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · AMBALAL SARABHAI ENT L · 30 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
28 Oct 2026 · Board to approve September 2026 quarterly and half-year results
results
low
—
—
6 Oct 2026 · Reg 74(5) compliance certificate filed with BSE for quarter ended Sept 2026
compliance
minimal
—
—
25 Sept 2026 · Trading window closed from Oct 1 till 48 hours after Q2 results
compliance
minimal
—
—
14 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results
12 Aug 2026 · Q1 FY27 results: PAT drops 52% YoY to Rs 3.98 cr on margin pressure
results
high
—
—
12 Aug 2026 · Q1 FY27 Results: Net Profit Falls 52 Percent YoY to Rs. 398 Lakhs
results
high
—
—
6 Aug 2026 · No undisclosed info behind share price movement
compliance
minimal
—
—
5 Aug 2026 · BSE seeks clarification on significant price movement from Ambalal Sarabhai Enterprises
regulatory legal
high
—
—
5 Aug 2026 · Plant visit for shareholders rescheduled to 1 December 2026
general
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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More audited years; no estimates
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
