NSE: MEDICAMEQ · BSE: 531146
MEDICAMEN BIOTECH LIMITED
Manufactures and sells pharmaceutical products, with a focus on developing drug formulations for domestic and regulated overseas markets. The business raised Rs. 53.57 crore through a preferential issue in April 2025 to fund six stated objects: development of 50 drug SKUs for regulated markets, registration of dossiers, working capital, facility upgrades, domestic market expansion, and general corporate purposes; Rs. 29.30 crore had been utilised by March 31, 2026. Operates through subsidiaries Opal Pharmaceuticals and Medicamen Life Sciences, which contributed to consolidated nine-month PAT improving to about Rs. 531 lakh versus about Rs. 469 lakh in the prior-year period. In January 2026, the company received approval from the Danish Medicine Authority, in partnership with XGX Pharma Denmark, to register and market Paracetamol in Denmark under the EU regulatory framework. FY26 consolidated revenue stood at Rs. 197.77 crore with net profit of Rs. 9.80 crore and total assets of Rs. 371.99 crore, while materials at 47.7% of revenue and employee costs at 17.5% of revenue are the largest cost lines. The Board recommended a final dividend of Rs. 1 per equity share of Rs. 10 face value for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic pharmaceutical sales, Regulated markets exports, Subsidiary operations. Small-cap pharmaceutical manufacturer with regulated-market and subsidiary-driven growth
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 115 | 141 | 179 | 163 | 198 |
| EBITDA (ex other income) | 24 | 24 | 22 | 14 | 20 |
| margin % | 20.4 | 16.9 | 12.4 | 8.5 | 9.9 |
| Owners' profit | 0 | 15 | 11 | 7 | 10 |
| EPS, as reported (₹) | 12.19 | 11.82 | 7.50 | 5.16 | 7.22 |
| ROE % · ROCE % | 10.2 · 12.7 | 7.6 · 10.2 | 4.7 · 8.6 | 3.1 · 6.0 | 3.6 · 5.5 |
| Debt / equity (x) | 0.17 | 0.13 | 0.15 | 0.16 | 0.17 |
| Cash from operations | 4 | (6) | (0) | (7) | (33) |
| Capex | (9) | (7) | 0 | (2) | (5) |
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 | 45 | 45 | 30 | 43 | 47 | 47 | 61 | 48 |
| Profit before tax | 2 | 4 | 2 | 2 | 3 | 2 | 5 | 3 |
| Net profit | 1 | 3 | 2 | 2 | 2 | 2 | 4 | 2 |
| EPS (₹) | 0.71 | 2.30 | 1.47 | 1.18 | 1.56 | 1.21 | 3.28 | 1.36 |
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) | 41.1 | 31.2 | 104 of 158 | 34% |
| P/B | 1.5 | 3.1 | 37 of 163 | 77% |
| ROCE | 4.2 | 10.8 | 132 of 183 | 28% |
| ROE | 3.6 | 9.8 | 127 of 166 | 24% |
| Debt / Equity | 0.2 | 0.2 | 90 of 166 | 46% |
| EBITDA margin | 10.8 | 17.5 | 119 of 165 | 28% |
| Revenue growth | 11.3 | 16.3 | 91 of 161 | 44% |
| Profit growth | 15.3 | 30.9 | 95 of 158 | 40% |
| Market cap | 414 | 857 | 101 of 181 | 44% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · Director Sanjay Bansal sells 32,813 shares on market | ownership changes | high | — | — |
| 28 Sept 2026 · Medicamen Biotech 33rd AGM: All 8 Resolutions Passed, Dividend Declared | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closure from Oct 1, 2026 for Q2 Results | compliance | minimal | — | — |
| 26 Sept 2026 · Medicamen Biotech 33rd AGM concludes; 8 resolutions tabled including dividend | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Medicamen Biotech publishes 33rd AGM notice; Re.1 dividend proposed | compliance | minimal | — | — |
| 3 Sept 2026 · Annual Report FY25-26 and 33rd AGM Notice Submitted | investor communications | medium | — | — |
| 3 Sept 2026 · Medicamen Biotech files BRSR for FY26 with Rs 178.84 cr revenue | compliance | low | — | — |
| 3 Sept 2026 · Medicamen Biotech 33rd AGM on Sept 26, FY26 report and results filed | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · Medicamen Biotech 33rd AGM notice on Sep 26, 2026 | board shareholder meetings | medium | — | — |
| 18 Aug 2026 · Medicamen Biotech fixes Sep 19, 2026 as record date for FY26 dividend | corporate actions | 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.