NSE: SAKAR
SAKAR HEALTHCARE LIMITED
Manufactures and supplies pharmaceutical products, with oncology formulations as the growth focus and a domestic contract development and manufacturing (CDMO) business in the rest of the portfolio. Oncology contributed 38% of FY26 revenue of ₹251.736 crore, built around tech-transfer partnerships, dossier filings and marketing authorisations with global pharma names such as Accord-Intas, Torrent, Emcure, Glenmark and Zydus. The remaining business is a domestic CDMO service that earned about ₹35 crore in FY26, supplying formulations to Indian pharma companies. The biggest cost line is materials at 52.7% of revenue, followed by employee cost at 15.4% and depreciation at 9.4%. Production runs primarily from a EU GMP-certified Bavla facility, which currently sits at about 29% capacity utilisation. Q1 FY27 revenue of ₹72.97 crore was up 38% year-on-year, driven by new oncology market authorisations and export demand. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Oncology formulations and exports (38%), Domestic CDMO (contract manufacturing). Mid-sized pharma company transitioning from diversified generics to an oncology-led, export-driven and tech-transfer-based model
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 128 | 133 | 153 | 178 | 252 |
| EBITDA (ex other income) | 29 | 33 | 38 | 50 | 69 |
| margin % | 22.9 | 24.8 | 25.0 | 27.9 | 27.4 |
| Owners' profit | 15 | 13 | 12 | 18 | 30 |
| EPS, as reported (₹) | 8.73 | 6.59 | 5.64 | 7.97 | 13.70 |
| ROE % · ROCE % | — · — | 7.4 · 8.1 | 4.4 · 7.1 | 6.1 · 8.5 | 9.4 · 12.8 |
| Debt / equity (x) | — | 0.64 | 0.26 | 0.26 | 0.17 |
| Cash from operations | 36 | 33 | 24 | 36 | 49 |
| Capex | (98) | (82) | (60) | (32) | 0 |
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 | 43 | 43 | 50 | 53 | 58 | 70 | 71 | 73 |
| Profit before tax | 5 | 5 | 6 | 5 | 5 | 11 | 18 | 15 |
| Net profit | 5 | 5 | 6 | 5 | 5 | 10 | 11 | 10 |
| EPS (₹) | 2.17 | 2.08 | 2.66 | 2.11 | 2.03 | 4.59 | 4.96 | 4.62 |
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) | 61.8 | 31.2 | 129 of 158 | 19% |
| P/B | 6.9 | 3.1 | 137 of 163 | 16% |
| ROCE | 10.7 | 10.8 | 93 of 183 | 50% |
| ROE | 9.4 | 9.8 | 85 of 166 | 49% |
| Debt / Equity | 0.2 | 0.2 | 87 of 166 | 48% |
| EBITDA margin | 31.2 | 17.5 | 30 of 165 | 82% |
| Revenue growth | 38.4 | 16.3 | 30 of 161 | 82% |
| Profit growth | 120.2 | 30.9 | 34 of 158 | 79% |
| Market cap | 2226 | 857 | 73 of 181 | 60% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 28 Sept 2026 · Trading window closed from Oct 1 until Q2 FY27 results | compliance | minimal | — | — |
| 22 Sept 2026 · Sakar Healthcare appoints Secretarial Auditor for 5-year term | management changes | medium | — | — |
| 22 Sept 2026 · All 4 resolutions passed at 22nd AGM; voting results declared | board shareholder meetings | low | — | — |
| 22 Sept 2026 · AGM proceedings for FY26 held; 4 resolutions transacted | board shareholder meetings | medium | — | — |
| 14 Sept 2026 · Plant visit and management meeting with analysts/investors on Sept 17-18, 2026 | board shareholder meetings | low | — | — |
| 14 Sept 2026 · Sakar Healthcare to host analysts and investors on Sept 17-18 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Sakar Healthcare gets 14 oncology product approvals in EU, UK and Canada | business updates | high | — | — |
| 29 Aug 2026 · 22nd AGM notice published in newspaper; e-voting Sept 19-21 | compliance | minimal | — | — |
| 27 Aug 2026 · AGM notice and FY26 annual report submitted to NSE | board shareholder meetings | medium | — | — |
| 3 Aug 2026 · Sakar Healthcare Q1 FY27: Revenue INR73cr, PAT up 120%, oncology FY27 target doubled | investor communications | 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.