NSE: SUDEEPPHRM · BSE: 544619
SUDEEP PHARMA LIMITED
Manufactures and sells specialty ingredients and pharmaceutical, food and nutrition excipients through two reporting segments. The Pharmaceutical, Food and Nutrition segment earned ₹362.6 crore in FY26, supplying ingredients used in pharma, food, and nutrition formulations. The Speciality Ingredients segment earned ₹279.6 crore, having grown 62% year-on-year, and includes the newly launched AbsorBis bisglycinate brand targeting roughly a $1 billion global market at about 4x the realisation of the core portfolio. Materials are the largest cost line at 42% of revenue, with management citing phosphoric and sulphuric acid inflation as a key FY26 headwind, followed by other opex at 22% and employee costs at 8.1%. The company is also building a battery-grade iron phosphate business for LFP batteries, with a Phase 1 plant of 25,000 MT per year at Dahej targeted for April 2027 commissioning, a 42-customer qualification pipeline, 6 customers in commercial validation, and an initial 700 MT purchase order. The company listed on the exchanges on 28 November 2025 and acquired 85% of Ireland-based Nutrition Supplies Services to strengthen its European presence. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceutical, Food and Nutrition (56%), Speciality Ingredients (43%), Inter Segment Revenue (1%). Specialty chemicals with two operating segments (PFN and Speciality Ingredients), plus a new battery materials vertical; capital-intensive at 18.4% capex/revenue
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 642 |
| EBITDA (ex other income) | 222 |
| margin % | 34.6 |
| Owners' profit | 173 |
| EPS, as reported (₹) | 15.50 |
| ROE % · ROCE % | 19.4 · 24.2 |
| Debt / equity (x) | 0.17 |
| Cash from operations | 70 |
| Capex | (118) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue | 163 | 172 | 182 | 158 |
| Profit before tax | 60 | 62 | 63 | 54 |
| Net profit | 47 | 48 | 49 | 41 |
| EPS (₹) | 4.20 | 4.29 | 4.38 | 3.59 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Pharmaceutical, Food and Nutrition | 90 | 17.2 |
| Speciality Ingredients | 238 | 45.3 |
| Inter Segment Revenue | 5 | 1.0 |
| Pharmacutical, food and Nutrition | 99 | 18.9 |
| Pharmacutical, Food and Nutrition | 90 | 17.3 |
| Inter-segment revenues | 2 | 0.4 |
| Total, before eliminations | 525 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,47,581 | 55.7 | 13.36 | 39.1 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,214 | 32.0 | 4.93 | 21.4 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 46,552 | 76.0 | 5.88 | 37.0 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 42,476 | 53.7 | 10.69 | 38.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,367 | 86.4 | 8.29 | 55.4 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 19,572 | 25.0 | 3.33 | 20.3 | 9.4 | 10.2 | 12.6 | 21.5 |
| ATUL LTD | 15,853 | 19.9 | 2.52 | 12.9 | 10.9 | 13.3 | 10.9 | 23.1 |
| AARTI INDUSTRIES LTD | 15,833 | 29.8 | 2.66 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 62.3 | 23.0 | 84 of 99 | 15% |
| P/B | 12.9 | 2.8 | 95 of 99 | 4% |
| ROCE | 23.4 | 10.1 | 12 of 106 | 90% |
| ROE | 19.4 | 8.1 | 13 of 99 | 88% |
| Debt / Equity | 0.2 | 0.2 | 48 of 99 | 52% |
| EBITDA margin | 38.1 | 15.5 | 3 of 99 | 98% |
| Market cap | 11589 | 697 | 13 of 108 | 89% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Gujarat FDA approval allows new 51,200 MT Sudeep Pharma plant to start production | compliance | low | — | — |
| 21 Oct 2026 · Earnings call with investors on 29 Oct 2026 at noon for Q2 and H1FY27 results | board shareholder meetings | low | — | — |
| 21 Oct 2026 · Board meeting on Oct 28 to consider Q2 FY26 financial results | results | low | — | — |
| 7 Oct 2026 · Compliance Certificate under SEBI Regulation 74(5) filed for Q2 FY27 | compliance | minimal | — | — |
| 5 Oct 2026 · Sudeep Pharma: Mr. Sendhil Pani ceases to be Senior Management Personnel | management changes | high | — | — |
| 25 Sept 2026 · Trading window closure from October 1 for Q2 results | compliance | minimal | — | — |
| 23 Sept 2026 · Attending Nuvama Emerging India CEO Forum 2026 on 28 Sep | investor communications | low | — | — |
| 22 Sept 2026 · Sudeep Pharma cancels analyst and investor plant visit scheduled for Sep 23-24 | general | low | — | — |
| 16 Sept 2026 · Plant visit for investors and analysts in Gujarat on 23-24 Sept | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Sudeep Pharma Q1 FY27 Concall Transcript: Revenue Up 27%, EBITDA Margin 34.7% | 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 |
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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.