NSE: SAIPARENT · BSE: 544742
SAI PARENTERALS LIMITED
Operates as a global pharmaceutical formulations platform combining injectable manufacturing in India with an IP-led OTC business in Australia and New Zealand, the latter added through the November 2025 acquisition of a 74.6% stake in Noumed Pharmaceuticals. Revenue flows through three channels: a CDMO export business contributing over 50% of consolidated FY26 revenue under long-term supply contracts into regulated markets; domestic branded formulations in India; and Noumed's OTC and private-label products sold into Australian pharmacy networks. A USD 11 million, 10-year exclusive anti-TB supply contract to the Philippines and an AUD 202 million (~INR 1,300 crore), 7.5-year exclusive OTC supply agreement with Australia's leading pharmacy network are the largest disclosed orders. The company is investing INR 440 crore across India EU-GMP upgrades, an R&D centre and an Adelaide manufacturing facility, all expected to commission by Q4 FY27. Materials are the dominant input cost at 62.5% of revenue, and FY27 revenue is guided at INR 750 crore with a 17% EBITDA margin. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. CDMO export business, Domestic branded formulations, Noumed Australia/NZ OTC and private-label. Multi-engine pharmaceutical platform across CDMO exports, domestic branded formulations, and IP-led OTC in Australia/New Zealand, currently in a capex-heavy expansion phase
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 381 |
| EBITDA (ex other income) | 39 |
| margin % | 10.2 |
| Owners' profit | 14 |
| EPS, as reported (₹) | 4.36 |
| ROE % · ROCE % | 2.9 · 3.6 |
| Debt / equity (x) | 0.65 |
| Cash from operations | 93 |
| Capex | (18) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 96 | 198 | 179 |
| Profit before tax | (12) | 12 | 10 |
| Net profit | (7) | 13 | 8 |
| EPS (₹) | (2.22) | 4.02 | 1.79 |
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 | 4,20,165 | 34.8 | 5.01 | 22.5 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,51,896 | 86.3 | 15.03 | 65.0 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,56,538 | 73.9 | 8.90 | 38.9 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,17,055 | 26.1 | 3.96 | 15.1 | 17.3 | 18.0 | 12.4 | 25.2 |
| LAURUS LABS LIMITED | 1,15,722 | 105.7 | 21.31 | 64.4 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 1,09,385 | 33.9 | 2.86 | 14.6 | 10.9 | 13.0 | 12.1 | 15.0 |
| CIPLA LTD | 1,09,060 | 32.3 | 3.16 | 16.7 | 11.2 | 14.7 | 8.0 | 19.7 |
| MANKIND PHARMA LIMITED | 1,03,353 | 50.6 | 6.24 | 28.4 | 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) | 134.1 | 30.1 | 148 of 158 | 6% |
| P/B | 4.3 | 3.0 | 106 of 163 | 35% |
| ROCE | 1.4 | 10.8 | 145 of 183 | 21% |
| ROE | 2.9 | 9.8 | 130 of 166 | 22% |
| Debt / Equity | 0.7 | 0.2 | 145 of 166 | 13% |
| EBITDA margin | 15.3 | 17.5 | 90 of 165 | 46% |
| Market cap | 2127 | 810 | 73 of 181 | 60% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to review September 2026 quarter and half-year results | results | low | — | — |
| 8 Oct 2026 · RTA confirms no demat or remat requests in Q2 FY27 | compliance | minimal | — | — |
| 5 Oct 2026 · Sai Parenterals acquires 60 percent in Prathyak Labs for Rs 15 crore | compliance | low | — | — |
| 3 Oct 2026 · Monitoring agency flags deviations in Sai Parenterals IPO fund use | compliance | low | — | — |
| 1 Oct 2026 · Sai Parenterals schedules analyst meet on 14 Oct 2026 in Hyderabad | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results declaration | compliance | minimal | — | — |
| 30 Sept 2026 · Board approves CS change and new COO at Sai Parenterals | management changes | medium | — | — |
| 30 Sept 2026 · Sai Parenterals: New CS and COO appointed, prior CS resigns | management changes | high | — | — |
| 10 Sept 2026 · Sai Parenterals 25th AGM: All 12 resolutions passed including IPO fund variation | board shareholder meetings | low | — | — |
| 10 Sept 2026 · 25th AGM held, all 12 resolutions passed including IPO proceeds variation | board shareholder meetings | 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.