NSE: PAR
PAR DRUGS AND CHEM LTD
Manufactures Active Pharmaceutical Ingredients (APIs) as its sole business segment, reporting FY26 revenue of Rs. 103.66 crore and net profit of Rs. 13.11 crore. The cost structure is led by raw materials and inputs at 41.2% of revenue, followed by other operating expenses at 35.7%, employee costs at 5.9% and depreciation at 3.6%, with capex at 1.9% of revenue. The standalone company has no subsidiaries, associates or joint ventures, ran with zero borrowings and held cash and equivalents of Rs. 4,184.29 lakh at FY26 year-end, alongside trade receivables of Rs. 1,671.41 lakh. Q4 FY26 total income fell to Rs. 1,961.08 lakh from Rs. 2,933.95 lakh in the preceding quarter, with Q4 net profit of Rs. 85.36 lakh. SEBI issued an ex-parte interim order and a confirmatory order restraining a proposed slump sale of the primary business to a related party; the company is evaluating legal remedies. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Active Pharmaceutical Ingredients (APIs). Single-segment, standalone Indian API manufacturer with no subsidiaries
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 75 | 96 | 96 | 101 | 104 |
| EBITDA (ex other income) | 16 | 18 | 23 | 20 | 17 |
| margin % | 21.7 | 19.0 | 23.9 | 19.3 | 16.5 |
| Owners' profit | 0 | 11 | 15 | 13 | 13 |
| EPS, as reported (₹) | 7.49 | 9.21 | 11.78 | 10.86 | 10.65 |
| ROE % · ROCE % | — · — | 15.9 · 20.3 | 16.9 · 22.0 | 13.5 · 17.5 | 11.7 · 15.1 |
| Debt / equity (x) | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 8 | 13 | 20 | 16 | 16 |
| Capex | (3) | (8) | (6) | (1) | (2) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21 | 22 | 26 | 29 | 29 | 20 | 31 | 27 |
| Profit before tax | 1 | 2 | 4 | 6 | 6 | 1 | 6 | 4 |
| Net profit | 1 | 2 | 3 | 4 | 5 | 1 | 5 | 3 |
| EPS (₹) | 0.47 | 1.34 | 2.70 | 3.36 | 3.90 | 0.69 | 3.83 | 2.14 |
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 | 4,26,524 | 38.9 | 4.76 | 23.7 | 5.5 | 8.0 | 11.8 | 29.3 |
| DIVI S LABORATORIES LTD | 2,59,170 | 88.7 | 15.46 | 75.3 | 15.3 | 18.8 | 8.7 | 40.7 |
| TORRENT PHARMACEUTICALS L | 1,75,309 | 77.9 | 9.54 | 41.5 | 6.0 | 4.0 | 11.8 | 33.5 |
| LAURUS LABS LIMITED | 1,29,969 | 96.9 | 21.03 | 74.4 | 12.9 | 14.2 | 7.2 | 34.0 |
| ZYDUS LIFESCIENCES LTD | 1,24,301 | 27.8 | 4.20 | 15.9 | 17.3 | 18.0 | 12.4 | 24.1 |
| DR. REDDY S LABORATORIES | 1,12,892 | 40.2 | 2.89 | 18.2 | 3.4 | 4.2 | 12.1 | 19.9 |
| CIPLA LTD | 1,11,394 | 38.4 | 3.14 | 18.8 | 4.6 | 6.2 | 8.0 | 18.7 |
| MANKIND PHARMA LIMITED | 1,02,953 | 45.9 | 5.77 | 30.1 | 7.2 | 7.3 | — | 27.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.9 | 29.9 | 24 of 160 | 86% |
| P/B | 1.2 | 2.9 | 30 of 163 | 82% |
| ROCE | 8.1 | 9.2 | 104 of 182 | 43% |
| ROE | 6.2 | 7.8 | 106 of 165 | 36% |
| Debt / Equity | 0.0 | 0.1 | 1 of 166 | 80% |
| EBITDA margin | 16.4 | 13.8 | 79 of 177 | 56% |
| Revenue growth | (4.3) | 17.1 | 125 of 161 | 23% |
| Profit growth | (36.4) | 27.3 | 125 of 158 | 21% |
| Market cap | 141 | 802 | 122 of 181 | 33% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 30 Oct 2026 · Newspaper publication of Q2 FY27 standalone results | compliance | minimal | — | — |
| 29 Oct 2026 · September quarter profit falls 36% as revenue and margins contract | results | medium | — | — |
| 29 Oct 2026 · Revenue and profit fall in September 2026 quarter | results | high | — | — |
| 29 Oct 2026 · Q2 profit falls 36% as revenue declines; half-year sales rise 7% | results | high | — | — |
| 8 Oct 2026 · Routine RTA certificate under SEBI Regulation 74(5) for Q2 FY26-27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 FY27 results | compliance | minimal | — | — |
| 27 Sept 2026 · AGM voting results: all 7 resolutions passed | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Par Drugs 27th AGM held on Sept 26, 2026 - key financials shared | board shareholder meetings | low | — | — |
| 26 Sept 2026 · AGM held on Sep 26, 2026; revenue up 4%, profit slightly down | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Newspaper publication of 27th AGM notice and e-voting information | compliance | minimal | — | — |
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.