Manufactures active pharmaceutical ingredients (APIs) and medical devices, with a growing contract development and manufacturing (CDMO) arm. The API business sells intermediates and active ingredients for molecules such as loratadine, desloratadine, montelukast, atorvastatin, rosuvastatin and fexofenadine to formulation customers worldwide, with export share at 72.1% of revenue in FY25. The medical devices business sells glucometers, blood pressure monitors and test strips through a B2C push, with a 14.2 million-unit glucometer installed base and 41 crore strips sold. A Rs 825 crore CDMO mandate from a global multinational moved into commercial execution in Q1 FY27, with capacity targeted to scale toward 1,000 KL in phases. API production capacity is being expanded from 314 KL to 600 KL by FY26, and the medical representative force is being scaled from 200 to 1,200 over three years to support an India formulations push. The cost base is dominated by materials at 57.8% of revenue, with employees at 12.9% and other operating expenses at 17.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceuticals (APIs and formulations) (73%), Medical Devices (27%), CDMO services. Manufacturing-heavy pharmaceuticals with API leadership, branded medical devices and a scaling CDMO franchise.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,547 | 1,418 | 1,690 | 1,812 | 1,806 |
| EBITDA (ex other income) | 137 | 80 | 159 | 174 | 151 |
| margin % | 8.8 | 5.6 | 9.4 | 9.6 | 8.4 |
| Owners' profit | 102 | 39 | 0 | 0 | 0 |
| EPS, as reported (₹) | 2.26 | 0.77 | 1.88 | 2.20 | 1.73 |
| ROE % · ROCE % | 17.6 · 19.4 | 5.1 · 7.3 | 11.3 · 15.6 | 9.9 · 12.8 | 7.6 · 9.4 |
| Debt / equity (x) | 0.03 | 0.03 | 0.03 | 0.07 | 0.16 |
| Cash from operations | (58) | (91) | 73 | 32 | 33 |
| Capex | (45) | (36) | (71) | (124) | (86) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 438 | 453 | 466 | 425 | 412 | 484 | 485 | 570 |
| Profit before tax | 46 | 35 | 26 | 16 | 46 | 35 | 23 | 75 |
| Net profit | 35 | 27 | 20 | 11 | 41 | 28 | 16 | 56 |
| EPS (₹) | 0.65 | 0.49 | 0.35 | 0.20 | 0.75 | 0.50 | 0.28 | 1.03 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 | 18.0 | 12.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Morepen Lab Completes First Phase of Capacity Expansion Ahead of Schedule | capex operations | high | — | — |
| 3 Sept 2026 · Newspaper publication for 41st AGM notice and Annual Report dispatch | compliance | minimal | — | — |
| 2 Sept 2026 · Annual Report link and final dividend of Rs 0.20 per share for FY26 | investor communications | medium | — | — |
| 2 Sept 2026 · Morepen Labs BRSR FY26: revenue Rs1676cr, EcoVadis Bronze Medal | general | low | — | — |
| 2 Sept 2026 · Morepen Labs 41st AGM on Sep 26, 2026; final dividend Rs 0.20 per share | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Morepen Labs files FY26 Annual Report; 41st AGM set for Sep 26, 2026 | results | high | — | — |
| 26 Aug 2026 · Morepen publishes AGM, dividend and record date notice | compliance | minimal | — | — |
| 6 Aug 2026 · Morepen infuses Rs 20 cr into wholly owned subsidiary MRX via rights issue | business updates | medium | — | — |
| 5 Aug 2026 · Morepen Labs publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 4 Aug 2026 · Morepen Q1FY27 QIP monitoring report: Rs. 9.10 crore unutilized, capex delays | fund raising | medium | — | — |
| 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 |
| 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 45.2 | 28.9 | 124 of 169 | 27% |
| P/B | 5.1 | 3.3 | 116 of 163 | 29% |
| ROCE | 8.3 | 10.8 | 113 of 183 | 39% |
| ROE | 7.6 | 10.4 | 108 of 171 | 37% |
| Debt / Equity | 0.2 | 0.1 | 89 of 171 | 48% |
| EBITDA margin | 15.4 | 17.5 | 89 of 165 | 46% |
| Revenue growth | 34.1 | 16.3 | 39 of 161 | 76% |
| Profit growth | 424.7 | 30.9 | 15 of 158 | 91% |
| Market cap | 6341 | 839 | 54 of 182 | 71% |
| 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 |
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.
