NSE: KOPRAN · BSE: 524280
KOPRAN LTD
Operates as an integrated pharmaceutical company with two main businesses: Active Pharmaceutical Ingredients (APIs) manufactured through subsidiary Kopran Research Laboratories Limited (KRLL), and Formulations. The group sells APIs and formulations across more than 50 countries, with exports a major part of the revenue base. In FY26, consolidated revenue was ₹68,142 lakhs, Q4 FY26 revenue reached ₹23,402 lakhs (up 36% year-on-year and the highest ever quarterly figure), and Q4 EBITDA was ₹4,057 lakhs at a 17.34% margin. Materials accounted for 63.3% of revenue, making raw material sourcing — including an explicit strategy to reduce China dependence for APIs — the principal cost lever. A scheme of amalgamation to absorb Kopran Laboratories into the parent is in progress (NCLT-admitted), and the API subsidiary is raising ₹18.75 crore via a rights issue for working capital. Planned capacity additions include a new API and R&D facility at Panoli, Gujarat, and automation of formulations packing lines. Full-year FY26 net profit fell to ₹2,573 lakhs from ₹3,855 lakhs in FY25, weighed down by ₹1,595 lakhs of foreign exchange losses. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Active Pharmaceutical Ingredients (APIs), Formulations. Integrated, export-oriented pharmaceutical manufacturer across APIs and Formulations, with material costs as the dominant input.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 478 | 551 | 615 | 630 | 681 |
| EBITDA (ex other income) | 87 | 52 | 74 | 73 | 62 |
| margin % | 18.3 | 9.4 | 12.1 | 11.6 | 9.1 |
| Owners' profit | 61 | 27 | 0 | 39 | 0 |
| EPS, as reported (₹) | 13.77 | 5.65 | 10.57 | 7.99 | 5.33 |
| ROE % · ROCE % | 14.3 · 18.9 | 6.2 · 8.9 | 10.4 · 14.5 | 7.4 · 10.4 | 4.9 · 8.0 |
| Debt / equity (x) | 0.17 | 0.17 | 0.20 | 0.29 | 0.29 |
| Cash from operations | (34) | 34 | 43 | 42 | 67 |
| Capex | (40) | (55) | (50) | (55) | (58) |
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 | 152 | 166 | 172 | 135 | 118 | 194 | 234 | 154 |
| Profit before tax | 10 | 14 | 14 | 10 | (12) | 11 | 25 | 9 |
| Net profit | 7 | 10 | 10 | 7 | (10) | 9 | 19 | 7 |
| EPS (₹) | 1.53 | 0.00 | 2.01 | 1.54 | (2.06) | 1.93 | 3.91 | 1.39 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 21 Sept 2026 · BSE seeks clarification from Kopran Ltd on sharp price movement | regulatory legal | high | — | — |
| 16 Sept 2026 · Kopran allots 40,500 shares to employees under ESOP 2023 | capital market events | low | — | — |
| 8 Sept 2026 · United Shippers (Promoter Group) sells 2.48% in Kopran | ownership changes | medium | — | — |
| 1 Sept 2026 · Kopran clarifies unusual trading volume to NSE query | regulatory legal | medium | — | — |
| 31 Aug 2026 · NSE queries Kopran on unusual trading volume | regulatory legal | high | — | — |
| 18 Aug 2026 · 67th AGM outcome: All 5 resolutions passed, Rs. 3 dividend approved | board shareholder meetings | medium | — | — |
| 10 Aug 2026 · Kopran Q1 FY27 results: revenue up but profit down YoY | compliance | minimal | — | — |
| 7 Aug 2026 · Kopran Q1 FY26-27 Investor Presentation | investor communications | medium | — | — |
| 7 Aug 2026 · Kopran Q1 FY26: Standalone PAT up 91% on 22% revenue growth | results | high | — | — |
| 7 Aug 2026 · Kopran Q1 FY27 Results: Standalone PAT nearly doubles, revenue up 22% | results | high | — | — |
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.