NSE: AMRUTANJAN · BSE: 590006
AMRUTAJAN HEALTH LTD
Sells over-the-counter consumer healthcare products in India, with four reporting segments. OTC Products is the core franchise, contributing 65.3% of FY26 segment revenue at Rs 328.32 crore, built around pain-relief brands including Back Pain Roll On and Head Roll On, which grew 12% and 21% respectively. Women's Hygiene & Personal Care accounts for 27.8% (Rs 139.91 crore), led by the Comfy XL variant which grew 44%. Beverages make up 6.3% (Rs 31.56 crore) and Others 0.6%. Only OTC Products is profitable at the segment level (EBIT Rs 83.44 crore), while Women's Hygiene, Beverages and Others each reported negative EBIT in FY26. Distribution was expanded during the year — stockist network up 9%, outlet coverage up 12%, and 44,000 new chemist outlets added, with a stated target of 100,000 chemist outlets by September 2027. New product launches included razors, antiseptic plaster, ortho pain oil and a nasal spray. The cost base is dominated by other operating expenses at 23.6% of revenue and materials at 21.2%, with employees at 12.7% and depreciation at 1.3%; capex was 10.9% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. OTC Products (65%), Women's Hygiene & Personal Care (28%), Beverages (6%), Others (1%). Brand-led, distribution-driven consumer healthcare business with concentrated dependence on OTC pain management
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 406 | 380 | 421 | 452 | 503 |
| EBITDA (ex other income) | 79 | 44 | 51 | 58 | 67 |
| margin % | 19.6 | 11.7 | 12.2 | 12.9 | 13.3 |
| Owners' profit | 67 | 40 | 45 | 51 | 58 |
| EPS, as reported (₹) | 23.05 | 13.65 | 15.56 | 17.58 | 20.03 |
| ROE % · ROCE % | 25.3 · 33.4 | 13.7 · 18.0 | 15.6 · 20.9 | 15.6 · 20.6 | 15.6 · 20.4 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 53 | 19 | 28 | 51 | 36 |
| Capex | (23) | (9) | (7) | (36) | (55) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 110 | 123 | 135 | 94 | 118 | 141 | 150 | 103 |
| Profit before tax | 16 | 26 | 21 | 11 | 19 | 26 | 21 | 6 |
| Net profit | 12 | 19 | 15 | 8 | 14 | 19 | 16 | 4 |
| EPS (₹) | 4.08 | 6.66 | 5.25 | 2.87 | 4.83 | 6.73 | 5.60 | 1.51 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| OTC Products | 328 | 65.3 |
| Women's Hygiene & Personal Care | 42 | 8.3 |
| Beverages | 32 | 6.3 |
| Others | 3 | 0.6 |
| Women's Hygiene | 98 | 19.5 |
| Total, before eliminations | 503 | 100.0 |
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 | 4,21,821 | 34.9 | 5.03 | 22.6 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,56,096 | 87.7 | 15.28 | 66.1 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,55,015 | 73.2 | 8.82 | 38.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| LAURUS LABS LIMITED | 1,21,232 | 110.8 | 22.32 | 67.4 | 16.4 | 17.2 | 7.2 | 32.0 |
| ZYDUS LIFESCIENCES LTD | 1,18,522 | 26.5 | 4.01 | 15.3 | 17.3 | 18.0 | 12.4 | 25.2 |
| DR. REDDY S LABORATORIES | 1,11,890 | 34.6 | 2.93 | 14.9 | 10.9 | 13.0 | 12.1 | 15.0 |
| CIPLA LTD | 1,09,690 | 32.5 | 3.18 | 16.8 | 11.2 | 14.7 | 8.0 | 19.7 |
| MANKIND PHARMA LIMITED | 1,01,982 | 49.9 | 6.16 | 28.1 | 11.7 | 10.8 | — | 27.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 26.4 | 30.2 | 67 of 158 | 58% |
| P/B | 3.9 | 3.1 | 95 of 163 | 42% |
| ROCE | 20.4 | 10.8 | 33 of 183 | 82% |
| ROE | 15.6 | 9.8 | 41 of 166 | 76% |
| Debt / Equity | 0.0 | 0.2 | 1 of 166 | 79% |
| EBITDA margin | 7.8 | 17.5 | 128 of 165 | 23% |
| Revenue growth | 9.5 | 16.3 | 96 of 161 | 41% |
| Profit growth | (47.5) | 30.9 | 132 of 158 | 17% |
| Market cap | 1426 | 801 | 83 of 181 | 54% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 results and interim dividend | results | low | — | — |
| 9 Oct 2026 · Amrutanjan Health Care gets ESG rating of 60 from CRISIL | general | low | — | — |
| 7 Oct 2026 · Compliance certificate submitted under SEBI DP Regulations for Sep 2026 quarter | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1, 2026 ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · AGM results: all 4 resolutions passed; Rs 2.90 dividend cleared | board shareholder meetings | low | — | — |
| 23 Sept 2026 · 89th AGM held; final dividend of Rs 2.90 per share approved | board shareholder meetings | low | — | — |
| 28 Aug 2026 · BRSR for FY 2025-26 submitted with Annual Report | compliance | minimal | — | — |
| 28 Aug 2026 · Amrutanjan Health Care 89th AGM notice set for September 23, 2026 | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Q1 FY27: Sales up 9%, PAT down on one-time charge; Comfy grows 27% | investor communications | medium | — | — |
| 11 Aug 2026 · Record date set at September 11 for FY26 final dividend | corporate actions | high | — | — |
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.