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 | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Kopran Q2 returns to profit on 79 percent revenue growth | compliance | minimal | — | — |
| 3 Nov 2026 · Q2 FY2026-27 revenue and profit rebound | investor communications | medium | — | — |
| 3 Nov 2026 · Q2 FY27 consolidated revenue Rs 21,126 lakh vs Rs 11,791 lakh; profit Rs 439 lakh vs year-ago loss | results | high | — | — |
| 3 Nov 2026 · Second-quarter consolidated revenue rises 79%, profit turns positive | results | high | — | — |
| 26 Oct 2026 · Kopran board to approve September quarter results on November 3 | results | low | — | — |
| 22 Oct 2026 · EU inspection of Khopoli plant concludes with one major observation | compliance | low | — | — |
| 12 Oct 2026 · Kopran Ltd files compliance certificate under SEBI Reg 74(5) for Jul-Sep 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · Kopran promoter group firm buys 1.7 lakh shares via market purchase | ownership changes | medium | — | — |
| 25 Sept 2026 · Trading Window closed for Q2 results from October 1, 2026 | compliance | minimal | — | — |
| 22 Sept 2026 · Kopran clarifies price movement, cites market dynamics | regulatory legal | 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.