BSE: 531569
SANJIVANI PARANTERAL LTD.
Manufactures and exports pharmaceutical formulations — injectables, oral solids and nutraceuticals — with 78.50% of FY26 revenue from overseas markets. Injectables are the largest product line at ₹346.15 million (53.45% of revenue), followed by tablets at ₹279.14 million. A new IV infusion plant at Pune (SPL Infusion) began commercial production in December 2025 and contributed ₹2.7 crore in Q4 FY26; management has guided FY27 revenue of ₹60-65 crore from this plant and ₹80-85 crore from the base business. The company also holds a 45% stake in a Prague nutraceutical joint venture. Q4 FY26 was hit by Middle East shipping disruptions tied to US-Iran tensions, leaving about ₹6 crore of exports undispatched. Materials account for 63.4% of revenue, the dominant cost item. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Injectables (53%), Tablets (Oral solids), Nutraceuticals, Pune IV Fluids (SPL Infusion). Small-cap, export-led generic pharmaceuticals building three verticals — injectables/orals, a ramping IV fluids plant, and a Prague nutraceutical JV
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 70 | 69 |
| EBITDA (ex other income) | 10 | 10 |
| margin % | 14.8 | 15.0 |
| Owners' profit | 8 | 7 |
| EPS, as reported (₹) | 6.89 | 5.49 |
| ROE % · ROCE % | 20.3 · 23.6 | 13.2 · 16.5 |
| Debt / equity (x) | 0.20 | 0.28 |
| Cash from operations | 12 | 0 |
| Capex | (30) | (9) |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 18 | 17 | 18 | 18 | 18 | 22 | 13 |
| Profit before tax | 3 | 3 | 3 | 2 | 5 | 4 | 1 |
| Net profit | 2 | 2 | 2 | 2 | 5 | 3 | 1 |
| EPS (₹) | 1.96 | 1.62 | 1.84 | 1.46 | 3.78 | 2.21 | 0.49 |
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) | 22.1 | 31.2 | 51 of 158 | 68% |
| P/B | 4.2 | 3.1 | 105 of 163 | 36% |
| ROCE | 15.3 | 10.8 | 62 of 183 | 67% |
| ROE | 13.2 | 9.8 | 54 of 166 | 68% |
| Debt / Equity | 0.3 | 0.2 | 114 of 166 | 32% |
| EBITDA margin | 16.4 | 17.5 | 86 of 165 | 48% |
| Revenue growth | (27.3) | 16.3 | 146 of 161 | 9% |
| Profit growth | (74.9) | 30.9 | 140 of 158 | 12% |
| Market cap | 215 | 857 | 112 of 181 | 38% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 28 Sept 2026 · Closure of Trading Window for the Second Quarter and Half Year Ended, 30th September, 2026 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closed Ahead of Q2 FY27 Results | compliance | minimal | — | — |
| 23 Sept 2026 · Clarification on use of warrant issue proceeds | fund raising | medium | — | — |
| 16 Sept 2026 · Sanjivani Paranteral AGM 2026: Financials and Director Re-appointment Approved | board shareholder meetings | low | — | — |
| 16 Sept 2026 · 32nd AGM of Sanjivani Paranteral held via video conferencing on Sept 16 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Newspaper advertisement of 32nd AGM notice filed with BSE | compliance | minimal | — | — |
| 24 Aug 2026 · Book closure and record date set for 32nd AGM on 16 Sep 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · AGM on 16 Sep 2026 - Book Closure from 10 to 16 Sep | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Notice of 32nd AGM scheduled for 16th September 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Sanjivani Paranteral FY26 Annual Report: Revenue declines 7.6% to Rs 64.76 cr | results | high | — | — |
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.