BSE: 524790
EVEREST ORGANICS LTD.
Manufactures active pharmaceutical ingredients (APIs) and intermediates at a facility in Telangana, with its registered office in Hyderabad. FY26 total income was Rs. 19,615.11 lakhs, an increase of approximately 23% from Rs. 15,941.90 lakhs in FY25 as noted in filings. The business returned to a profit after tax of Rs. 804.68 lakhs after a loss the prior year. Raw materials are the largest cost, accounting for 63.9% of revenue in FY26, followed by other operating expenses at 19.1% and employee costs at 7.9%. The statutory auditor issued a qualified opinion because the company has been operating at enhanced production capacity without the required environmental consents from the Telangana State Pollution Control Board, which the auditor said could affect the going concern status. Management has applied for Consent for Establishment and obtained an Environmental Clearance Certificate. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Active Pharmaceutical Ingredients (APIs) and intermediates. Small-cap pharmaceutical manufacturing, asset-heavy, currently flagged with environmental compliance concerns
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 200 | 183 | 197 | 159 | 196 |
| EBITDA (ex other income) | 6 | 1 | 11 | 7 | 20 |
| margin % | 3.2 | 0.5 | 5.6 | 4.5 | 10.1 |
| Owners' profit | 1 | (0) | 0 | (1) | 6 |
| EPS, as reported (₹) | 1.43 | (0.23) | 0.17 | 2.97 | 5.70 |
| ROE % · ROCE % | 2.4 · 7.4 | (0.4) · 5.3 | 0.3 · 9.1 | (1.8) · 2.3 | 7.3 · 16.6 |
| Debt / equity (x) | 0.83 | 1.10 | 1.26 | 0.68 | 0.66 |
| Cash from operations | 21 | (25) | 15 | (5) | 4 |
| Capex | (17) | (14) | (13) | (4) | (1) |
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 | 32 | 44 | 42 | 41 | 54 | 51 | 43 | 49 |
| Profit before tax | (6) | 1 | 1 | 1 | 2 | 3 | 1 | 2 |
| Net profit | (6) | 1 | 1 | 3 | 1 | 1 | 0 | 3 |
| EPS (₹) | (7.61) | 0.93 | 1.42 | 1.35 | 1.45 | 1.19 | 0.99 | 2.69 |
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) | 40.8 | 30.8 | 105 of 158 | 34% |
| P/B | 3.3 | 3.1 | 93 of 163 | 43% |
| ROCE | 9.2 | 10.8 | 106 of 183 | 42% |
| ROE | 7.3 | 9.8 | 105 of 166 | 37% |
| Debt / Equity | 0.7 | 0.2 | 146 of 166 | 12% |
| EBITDA margin | 14.1 | 17.5 | 96 of 165 | 42% |
| Revenue growth | 19.1 | 16.3 | 74 of 161 | 54% |
| Profit growth | (9.7) | 30.9 | 112 of 158 | 29% |
| Market cap | 251 | 806 | 107 of 181 | 41% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Routine dematerialization compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · 33rd AGM voting results - all 6 resolutions passed | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 33rd AGM held on Sept 30, 2026 - voting results pending | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · Insider trading window closed from Oct 1 for Q2 results | compliance | minimal | — | — |
| 9 Sept 2026 · Newspaper publication of 33rd AGM notice and remote e-voting details | compliance | minimal | — | — |
| 8 Sept 2026 · Everest Organics 33rd AGM notice and FY26 annual report dispatched | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Everest Organics 33rd AGM on Sept 30, 2026; 3 new Independent Directors | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 14 Aug 2026 · Board appoints 2 Independent Directors, fixes AGM on Sep 30 | management changes | high | — | — |
| 14 Aug 2026 · Board appoints two Independent Directors, sets AGM on Sep 30 | management changes | 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.