BSE: 524322
KABRA DRUGS LTD.
Manufactures and markets pharmaceutical products, with FY26 revenue from operations of ₹92.74 crore. The business expanded sharply in FY26, with revenue rising from ₹64.02 lakhs in the prior year. The company has received a Letter of Intent from the Government of Chhattisgarh to set up a pharmaceutical manufacturing facility at Nava Raipur Pharma Park, with proposed investment of ₹200 crore and around 250 direct and indirect jobs expected. It plans to launch its own generic branded formulations across South India in phases, using channel partners arranged by an external agency called 'Mr. Franchise'. The company is also entering defence manufacturing with AI integration, applying for a SCOMET License from DGFT and establishing an AI & Defence Technology R&D facility at Cactus TECCI Park in Chennai. The board has approved adding business objects covering drones and defence equipment, electric vehicle components, renewable energy, steel, hospitals, dairy, agro farms, hospitality, and AI technology, and the company has been renamed Aanjaay Industries Limited effective July 6, 2026. Trade receivables rose to ₹7,077.60 lakhs in FY26 from ₹60.05 lakhs in FY25. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceuticals. Small, transforming pharmaceutical business pursuing diversification into defence, drones, EV components, renewable energy, and other sectors
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 93 |
| EBITDA (ex other income) | (0) | (0) | (1) | (2) | 5 |
| margin % | — | — | — | — | 5.7 |
| Owners' profit | (0) | (0) | (1) | (1) | 5 |
| EPS, as reported (₹) | (0.42) | (0.77) | (1.68) | 0.99 | 2.09 |
| ROE % · ROCE % | 47.2 · 47.2 | 46.2 · (51.9) | (68.0) · (68.0) | (4.4) · (4.4) | 16.7 · 19.3 |
| Debt / equity (x) | (2.61) | (1.89) | 1.58 | 0.02 | 0.01 |
| Cash from operations | (0) | (0) | (0) | (5) | (9) |
| Capex | 0 | 0 | 0 | (0) | (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 | 0 | 0 | 0 | 0 | 7 | 20 | 30 | 35 |
| Profit before tax | (1) | (0) | (1) | 0 | (0) | 2 | 3 | 1 |
| Net profit | (1) | (0) | (1) | 0 | (0) | 2 | 3 | 1 |
| EPS (₹) | (1.24) | (3.94) | (0.53) | 0.21 | (0.21) | 0.77 | 1.08 | 0.45 |
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 | 4,22,229 | 34.9 | 5.03 | 22.6 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,48,067 | 84.9 | 14.80 | 64.0 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,56,270 | 73.8 | 8.89 | 38.8 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,10,978 | 24.8 | 3.75 | 14.4 | 17.3 | 18.0 | 12.4 | 25.2 |
| LAURUS LABS LIMITED | 1,07,937 | 98.6 | 19.87 | 60.1 | 16.4 | 17.2 | 7.2 | 32.0 |
| CIPLA LTD | 1,05,570 | 31.3 | 3.06 | 16.1 | 11.2 | 14.7 | 8.0 | 19.7 |
| DR. REDDY S LABORATORIES | 98,530 | 30.5 | 2.58 | 13.2 | 10.9 | 13.0 | 12.1 | 15.0 |
| MANKIND PHARMA LIMITED | 98,294 | 48.1 | 5.94 | 27.1 | 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) | 8.9 | 31.2 | 16 of 158 | 90% |
| P/B | 1.5 | 3.1 | 36 of 163 | 78% |
| ROCE | 19.2 | 10.8 | 37 of 183 | 80% |
| ROE | 16.8 | 9.8 | 37 of 166 | 78% |
| Debt / Equity | 0.0 | 0.2 | 49 of 166 | 71% |
| EBITDA margin | 4.1 | 17.5 | 143 of 165 | 13% |
| Profit growth | 170.1 | 30.9 | 29 of 158 | 82% |
| Market cap | 44 | 857 | 151 of 181 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Oct 2026 · AGM results: all 4 resolutions passed with over 99% majority | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 37th AGM held on 30 Sep 2026; four ordinary resolutions transacted | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Closure of Trading Window | compliance | minimal | — | — |
| 9 Sept 2026 · AGM notice published; e-voting from Sep 27 | compliance | minimal | — | — |
| 8 Sept 2026 · Aanjaay Industries (formerly Kabra Drugs) files FY26 Annual Report | compliance | low | — | — |
| 7 Sept 2026 · Notice of 37th AGM on 30 Sept 2026; Director and Auditor Appointments | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Book Closure and E-voting Schedule for AGM on 30 Sep 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Karthik L and Associates appointed as Internal Auditor for FY 2026-27 | management changes | medium | — | — |
| 2 Sept 2026 · Appointment of Twinkle Agarwal as Secretarial Auditor for FY2027 to FY2031 | management changes | medium | — | — |
| 2 Sept 2026 · 37th AGM set for 30 Sep; director and auditor appointments approved | 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.