IPCA LABORATORIES LTD

Operates as a pharmaceutical manufacturer with FY26 consolidated revenue of Rs 9,646.33 crore and consolidated net profit of Rs 1,183.78 crore. IPCA Laboratories sells into both domestic and export markets, with exports to over 100 countries accounting for 42% of revenue. On a standalone basis, FY26 total income was Rs 7,431 crore, up 10% from Rs 6,749 crore, with standalone net profit of Rs 1,132.5 crore and EBITDA of Rs 1,942 crore at a 26.1% margin. The business works with active pharmaceutical ingredients, currently sourcing fermentation-based APIs from Krebs Biochemicals, which the board approved merging into itself at a share-swap ratio of 7 IPCA shares for every 200 Krebs shares, with no cash consideration. The manufacturing operation runs with 16,052 permanent employees, with women at 20.59% in office roles. The largest cost lines are other operating expenses at 27.8% of revenue, raw materials at 24.3%, and employee costs at 22.4%, with depreciation at 4.3% and capex at 6.8% of revenue.