NSE: ERIS · BSE: 540596
ERIS LIFESCIENCES LIMITED
Sells branded pharmaceutical formulations in India across ten therapy areas, with cardiac, oral anti-diabetics (OAD), biologics and insulins among the largest contributors. The domestic branded formulations (DBF) business grew 14% year-on-year in Q1 FY27 to Rs 801 cr, with seven of ten therapies delivering double-digit growth. A biologics and insulin manufacturing facility at Bhopal is scheduled to commercialise in August 2026, intended to support future insulin aspart and other analogue launches. A semaglutide brand (Sanghi) launched in Q1 FY27 captured 20% volume share and 14% value share in its launch quarter, while an earlier GLP-1 brand (Sundae) ranks #1 in prescriptions with about 21% share. The company also runs a Swiss parenteral operation under EU GMP remediation and an export franchise, both smaller contributors. Consolidated Q1 FY27 revenue was Rs 873 cr at a 34% EBITDA margin; FY26 full-year revenue was Rs 3,129 cr at a 35.5% EBITDA margin. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic Branded Formulations (DBF), International / Swiss parenteral and exports. Asset-light branded pharma with a growing biologics/insulin franchise and a smaller international parenteral business.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,347 | 1,685 | 2,009 | 2,894 | 3,129 |
| EBITDA (ex other income) | 485 | 537 | 675 | 1,017 | 1,103 |
| margin % | 36.0 | 31.9 | 33.6 | 35.2 | 35.2 |
| Owners' profit | 406 | 382 | 392 | 352 | 620 |
| EPS, as reported (₹) | 29.89 | 28.10 | 28.82 | 25.85 | 45.33 |
| ROE % · ROCE % | 21.3 · 21.5 | 16.8 · 13.4 | 12.3 · 11.4 | 11.5 · 12.7 | 16.6 · 15.7 |
| Debt / equity (x) | 0.02 | 0.37 | 0.85 | 0.76 | 0.59 |
| Cash from operations | 378 | 292 | 486 | 1,065 | 538 |
| Capex | (121) | (841) | (129) | (155) | (297) |
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 | 739 | 727 | 705 | 773 | 792 | 807 | 757 | 873 |
| Profit before tax | 129 | 116 | 129 | 160 | 172 | 145 | 161 | 180 |
| Net profit | 96 | 87 | 102 | 125 | 134 | 109 | 279 | 143 |
| EPS (₹) | 6.73 | 6.15 | 6.90 | 8.66 | 8.82 | 7.32 | 20.60 | 10.28 |
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 | 4,21,677 | 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 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.0 | 30.8 | 63 of 158 | 61% |
| P/B | 4.2 | 3.1 | 102 of 163 | 37% |
| ROCE | 12.1 | 10.8 | 82 of 183 | 56% |
| ROE | 16.6 | 9.8 | 38 of 166 | 78% |
| Debt / Equity | 0.6 | 0.2 | 143 of 166 | 14% |
| EBITDA margin | 34.2 | 17.5 | 20 of 165 | 88% |
| Revenue growth | 13.0 | 16.3 | 87 of 161 | 46% |
| Profit growth | 14.6 | 30.9 | 97 of 158 | 39% |
| Market cap | 16269 | 806 | 33 of 181 | 82% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Q2 and H1 FY27 earnings call recording now available | investor communications | low | — | — |
| 26 Oct 2026 · Eris Q2 FY27: revenue up 12.6%, profit up 39.2%, margin recovery ahead | investor communications | medium | — | — |
| 26 Oct 2026 · Q2 FY27 revenue up 13%, PAT up 39%; Rs 35.9 cr write-down hits profit | results | high | — | — |
| 19 Oct 2026 · Investor call for Q2/H1 FY27 earnings on Oct 26 | board shareholder meetings | low | — | — |
| 19 Oct 2026 · Board meeting on Oct 26 to approve Q2 and H1 FY26 results | results | low | — | — |
| 19 Oct 2026 · Board meeting on Oct 26 to approve Q2 and H1 FY27 results | results | low | — | — |
| 7 Oct 2026 · SEBI Regulation 74(5) compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 5 Oct 2026 · Executive Director and COO Krishnakumar Vaidyanathan resigns from Eris Lifesciences | management changes | high | — | — |
| 28 Sept 2026 · Eris Lifesciences trading window closed from Oct 1 for Q2 results | compliance | minimal | — | — |
| 25 Sept 2026 · Eris Lifesciences AGM Voting Results: All 4 Resolutions Passed | compliance | minimal | — | — |
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.