NSE: ASTRAZEN · BSE: 506820
ASTRAZENECA PHARMA IND LT
Imports and markets AstraZeneca's prescription drugs in India across three therapy areas. Oncology generated Rs 16,101 million in FY26 (up 44% year on year), led by cancer drugs such as Enhertu and Tagrisso sold to hospital oncologists. Biopharmaceuticals contributed Rs 5,243 million (up 7.2%), covering biologic medicines such as Fasenra. Rare Disease was Rs 215 million, up sevenfold. The company exited its Bengaluru manufacturing operations during the year, so all products are now imported and distributed through a marketing organisation of 760 permanent employees. Eleven new regulatory approvals were secured in FY26, including label extensions for Enhertu (neoadjuvant HER2-positive breast cancer) and Fasenra (Hypereosinophilic Syndrome). Employee costs are the largest stated operating expense at 11.6% of revenue, followed by other operating expenses at 16.2%. The business carries exposure to price control litigation under DPCO 2013 - NPPA has issued demand notices alleging overcharging on Symbicort Turbuhaler 160/4.5 (Rs 148.66 crore inclusive of interest) and Betaloc-50 tablets (Rs 79.97 lakh), both of which the company is reviewing. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Oncology, Biopharmaceuticals, Rare Disease. Specialty prescription drug importer and marketer with no in-house manufacturing
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 806 | 1,003 | 1,296 | 1,716 | 2,276 |
| EBITDA (ex other income) | 86 | 125 | 201 | 157 | 257 |
| margin % | 10.7 | 12.5 | 15.5 | 9.2 | 11.3 |
| Owners' profit | 62 | 99 | 162 | 116 | 188 |
| EPS, as reported (₹) | 24.64 | 39.72 | 64.60 | 46.30 | 75.01 |
| ROE % · ROCE % | 12.0 · 16.0 | 16.9 · 22.4 | 22.7 · 30.6 | 15.0 · 19.4 | 21.5 · 25.5 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 101 | 58 | 93 | 65 | (15) |
| Capex | (10) | (9) | (11) | (2) | (4) |
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 | 408 | 440 | 480 | 526 | 559 | 612 | 579 | 683 |
| Profit before tax | 51 | 42 | 78 | 75 | 73 | 47 | 58 | 51 |
| Net profit | 38 | 31 | 58 | 56 | 54 | 33 | 45 | 38 |
| EPS (₹) | 15.37 | 12.34 | 23.30 | 22.33 | 21.69 | 13.04 | 17.95 | 15.17 |
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) | 90.0 | 30.1 | 139 of 158 | 12% |
| P/B | 17.5 | 3.0 | 155 of 163 | 5% |
| ROCE | 25.0 | 10.8 | 15 of 183 | 92% |
| ROE | 21.5 | 9.8 | 16 of 166 | 91% |
| Debt / Equity | 0.0 | 0.2 | 1 of 166 | 79% |
| EBITDA margin | 8.5 | 17.5 | 127 of 165 | 23% |
| Revenue growth | 29.7 | 16.3 | 48 of 161 | 71% |
| Profit growth | (32.1) | 30.9 | 121 of 158 | 24% |
| Market cap | 15260 | 810 | 34 of 181 | 82% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · RTA confirms share dematerialisation compliance for September quarter | compliance | minimal | — | — |
| 16 Oct 2026 · AstraZeneca Pharma India opens new Mumbai corporate office | compliance | low | — | — |
| 16 Oct 2026 · Postal Ballot Results: New Director Appointed, Another Reassigned | management changes | medium | — | — |
| 16 Oct 2026 · AstraZeneca Pharma India gets ESG rating of 73 from NSE Sustainability for FY 2025-26 | business updates | low | — | — |
| 18 Sept 2026 · AstraZeneca Pharma faces Rs 1.88 lakh ROC penalty for delayed MD filing | regulatory legal | high | — | — |
| 15 Sept 2026 · Trading Window Closure from September 16, 2026 ahead of Q2 Results | compliance | minimal | — | — |
| 15 Sept 2026 · Medical Affairs Director Dr Sandeep Arora resigns effective Sep 15 | management changes | medium | — | — |
| 2 Sept 2026 · Crisil assigns ESG rating of 64 to AstraZeneca Pharma India for FY26 | business updates | medium | — | — |
| 25 Aug 2026 · Delhi HC stays NPPA demand notice on Betaloc-50; 15 percent deposit required | regulatory legal | high | — | — |
| 24 Aug 2026 · Crisil assigns ESG rating of 57 to AstraZeneca Pharma India | business updates | 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.