Markets established pharmaceutical brands in India across pain (Voveran), calcium supplementation (Calcium Sandoz, Macalvit, Citromacalvit), neurosciences (Tegrital), gynaecology and transplant immunology. For FY26, revenue from operations stood at Rs 354.33 crore with net profit of Rs 93.18 crore and total assets of Rs 978.27 crore. In Q1 FY27, revenue from operations rose to INR 1,038.1 million from INR 875.5 million, with PAT of INR 322.1 million and the company reporting zero outstanding debt. On July 29, 2026, ChrysCapital-backed entities (WaveRise Investments, ChrysCapital Fund X, Two Infinity Partners) completed the acquisition of Novartis AG's 70.68% stake (1,74,50,680 equity shares) for about Rs 1,376.89 crore. Under new management, the board approved a 5-year distribution deal with Novartis Pharma Services AG, a brand license for Tegrital, and the assignment of the Voveran, Macalvit and Citromacalvit trademarks, with a new corporate identity and website (nilpharma.co.in) to follow. Stated cost categories in FY26 were employee costs at 5.9% of revenue and other operating expenses at 11.5%, with depreciation at 0.6% and capex at 0.1%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pain, Calcium supplementation, Neurosciences, Gynaecology, Transplant immunology. Branded pharmaceutical marketing and distribution with a recently completed change of control from Novartis AG to ChrysCapital
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 400 | 379 | 335 | 356 | 354 |
| EBITDA (ex other income) | (23) | 65 | 65 | 91 | 94 |
| margin % | (5.6) | 17.2 | 19.5 | 25.7 | 26.6 |
| Owners' profit | (4) | 103 | 85 | 101 | 93 |
| EPS, as reported (₹) | (1.51) | 41.86 | 34.50 | 40.87 | 37.74 |
| ROE % · ROCE % | (0.5) · 0.1 | 13.3 · 14.2 | 11.4 · 16.2 | 12.9 · 16.3 | 11.4 · 15.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 39 | 45 | 113 | 75 | 47 |
| Capex | (1) | (0) | 0 | 0 | (0) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 92 | 87 | 93 | 84 | 88 | 90 | 86 | 91 |
| Profit before tax | 34 | 28 | 35 | 34 | 37 | 33 | 30 | 30 |
| Net profit | 26 | 20 | 25 | 29 | 28 | 24 | 16 | 25 |
| EPS (₹) | 10.42 | 8.27 | 10.31 | 11.87 | 11.19 | 9.81 | 6.52 | 10.23 |
| 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 % |
|---|---|---|---|---|
| 11 Sept 2026 · Novartis India investor meet: ChrysCapital takes charge, outlines M&A and growth push | investor communications | medium | — | — |
| 9 Sept 2026 · 78th AGM notice and Annual Report FY25-26 weblink sent to non-email shareholders | compliance | low | — | — |
| 8 Sept 2026 · Novartis India schedules investor and analyst call on September 11, 2026 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Novartis India inks exclusive distribution deal for retina portfolio | strategic transactions | medium | — | — |
| 7 Sept 2026 · Novartis India acquires Minipress trademarks from Pfizer for Rs 1,250 cr | strategic transactions | high | — | — |
| 3 Sept 2026 · Newspaper publication of 78th AGM notice and Annual Report FY26 | compliance | minimal | — | — |
| 2 Sept 2026 · Novartis India files FY26 Annual Report; 78th AGM on Sep 24 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Novartis India 78th AGM notice on Sept 24; key resolutions include name change to Evonile Pharma | board shareholder meetings | low | — | — |
| 2 Sept 2026 · BRSR Report filed for FY 2025-26 | compliance | low | — | — |
| 28 Aug 2026 · Novartis India 78th AGM notice published in newspapers | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 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) | 62.7 | 28.9 | 142 of 169 | 16% |
| P/B | 7.1 | 3.3 | 135 of 163 | 17% |
| ROCE | 15.6 | 10.8 | 60 of 183 | 68% |
| ROE | 11.4 | 10.4 | 78 of 171 | 55% |
| Debt / Equity | 0.0 | 0.1 | 6 of 171 | 77% |
| EBITDA margin | 33.8 | 17.5 | 21 of 165 | 88% |
| Revenue growth | 8.0 | 16.3 | 101 of 161 | 38% |
| Profit growth | (13.8) | 30.9 | 114 of 158 | 28% |
| Market cap | 5839 | 839 | 56 of 182 | 70% |
| 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 |
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.
