NSE: CAPLIPOINT · BSE: 524742
CAPLIN POINT LAB LTD.
Sells generic pharmaceutical formulations, including injectable products made by subsidiary Caplin Steriles Limited, primarily to customers in emerging markets and the United States. The 'Rest of the World' segment accounts for 75.3% of segment revenue and the USA segment 19.7%, with a small unallocated portion of 5.0%. The US business operates through Caplin Steriles, which holds 55 ANDA approvals from the USFDA, including a May 2026 approval for Foscarnet Sodium Injection, a generic version of Foscavir targeting a US market of approximately $15 million for the 12 months ending March 2026. On the cost side, materials account for 16.3% of revenue, employee costs 9.1%, and other operating expenses 16.5%, with capex at 11.3% of revenue. The company holds ₹1,471 crores in free cash reserves and ₹2,726 crores in liquid assets, and declared an interim dividend of ₹4 per share (200% on face value of ₹2) for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Rest of the World (75%), USA (20%), Unallocated (5%). Pharmaceutical generics with strong cash generation
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,269 | 1,467 | 1,694 | 1,937 | 2,187 |
| EBITDA (ex other income) | 395 | 441 | 552 | 647 | 761 |
| margin % | 31.1 | 30.1 | 32.6 | 33.4 | 34.8 |
| Owners' profit | 308 | 376 | 457 | 563 | 641 |
| EPS, as reported (₹) | 39.61 | 49.62 | 60.19 | 70.57 | 84.36 |
| ROE % · ROCE % | 20.4 · 25.3 | 19.8 · 23.5 | 19.7 · 23.9 | 18.7 · 23.3 | 17.9 · 22.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 337 | 272 | 311 | 432 | 523 |
| Capex | (91) | (194) | (146) | (192) | (248) |
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 | 483 | 493 | 502 | 510 | 534 | 543 | 600 | 610 |
| Profit before tax | 169 | 177 | 177 | 184 | 201 | 204 | 213 | 225 |
| Net profit | 131 | 140 | 145 | 151 | 160 | 166 | 173 | 179 |
| EPS (₹) | 17.22 | 18.28 | 18.75 | 20.10 | 20.32 | 21.56 | 22.38 | 23.27 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Rest of the World | 1,734 | 75.3 |
| USA | 453 | 19.7 |
| Unallocated | 116 | 5.0 |
| Total, before eliminations | 2,303 | 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 | 4,21,677 | 34.9 | 5.03 | 22.6 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,53,976 | 87.0 | 15.15 | 65.5 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,54,957 | 73.1 | 8.81 | 38.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| LAURUS LABS LIMITED | 1,17,877 | 107.7 | 21.70 | 65.6 | 16.4 | 17.2 | 7.2 | 32.0 |
| ZYDUS LIFESCIENCES LTD | 1,17,315 | 26.2 | 3.97 | 15.1 | 17.3 | 18.0 | 12.4 | 25.2 |
| DR. REDDY S LABORATORIES | 1,11,506 | 34.5 | 2.92 | 14.9 | 10.9 | 13.0 | 12.1 | 15.0 |
| CIPLA LTD | 1,10,320 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| MANKIND PHARMA LIMITED | 1,02,829 | 50.3 | 6.21 | 28.3 | 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) | 27.0 | 30.8 | 69 of 158 | 57% |
| P/B | 4.9 | 3.1 | 114 of 163 | 30% |
| ROCE | 21.9 | 10.8 | 26 of 183 | 86% |
| ROE | 17.9 | 9.8 | 27 of 166 | 84% |
| Debt / Equity | 0.0 | 0.2 | 36 of 166 | 79% |
| EBITDA margin | 40.5 | 17.5 | 9 of 165 | 95% |
| Revenue growth | 19.6 | 16.3 | 71 of 161 | 56% |
| Profit growth | 18.8 | 30.9 | 89 of 158 | 44% |
| Market cap | 17946 | 806 | 30 of 181 | 84% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Registrar confirms share demat processing for Sep 2026 quarter | compliance | minimal | — | — |
| 28 Sept 2026 · Insider trading window closes from Oct 1, 2026 ahead of Q2 and H1 FY26 results | compliance | minimal | — | — |
| 25 Sept 2026 · Caplin Point Labs 35th AGM: All 6 resolutions passed with strong majority | board shareholder meetings | medium | — | — |
| 25 Sept 2026 · Caplin Point Labs holds 35th AGM, proposes dividend and director appointments | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Caplin Point clarifies on sudden volume spike in shares | compliance | low | — | — |
| 24 Sept 2026 · NSE flags unusual trading volume; awaits company response | regulatory legal | medium | — | — |
| 4 Sept 2026 · Caplin Point Labs 35th AGM Notice Published in Newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · AGM Notice and Annual Report dispatch for FY 2025-26 | compliance | minimal | — | — |
| 3 Sept 2026 · BRSR Filing for FY 2025-26 by Caplin Point Laboratories | compliance | low | — | — |
| 3 Sept 2026 · Caplin Point Labs 35th AGM notice on Sept 25, 2026 | board shareholder meetings | low | — | — |
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.