NSE: SUNLOC · BSE: 537253
SUNIL HEALTHCARE LTD.
Makes pharmaceutical capsules from three manufacturing units — Bajaj Healthcare, Hindustan Pharmacy and an Ayurvedic/cosmeceuticals division — and sells them as its only revenue-generating segment, with capsules accounting for 100% of segment revenue in the period reported (F_SEGMENTS, F_FILINGS 2026-05-31). FY26 consolidated revenue was Rs 87.7192 crore (F_SCALE). On the cost side, materials make up 37.1% of revenue, other operating expenses 33.4%, employee costs 14.7% and depreciation 7.3%, with capex at 4.1% of revenue (F_COST_SHAPE). The business also runs two foreign subsidiaries — Sunil Healthcare Mexico SA De CV and Sunil Healthcare North America LLC — which contributed negligible revenue but around Rs 97 lakhs of consolidated net profit in the nine-month period of FY26 (F_FILINGS 2026-02-06). FY26 consolidated net profit was Rs 4.006 crore on an EBITDA margin of 16.9% (F_SCALE). The marketing of food products line was a discontinued operation (F_SEGMENTS). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Capsules (100%), Marketing of Food Products (0%). Small-cap, single-segment pharmaceutical formulations manufacturer
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 119 | 110 | 90 | 83 | 88 |
| EBITDA (ex other income) | 17 | 16 | 4 | 10 | 13 |
| margin % | 14.6 | 14.6 | 4.5 | 12.3 | 14.4 |
| Owners' profit | 0 | 7 | 0 | (1) | 4 |
| EPS, as reported (₹) | 6.26 | 6.52 | (1.74) | (1.38) | 3.91 |
| ROE % · ROCE % | 12.9 · 18.3 | 11.9 · 18.1 | (2.6) · 3.2 | (2.1) · 5.3 | 5.8 · 8.6 |
| Debt / equity (x) | 0.69 | 0.63 | 0.97 | 1.02 | 0.80 |
| Cash from operations | 23 | 7 | (16) | 12 | 22 |
| Capex | (9) | (4) | (10) | (9) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21 | 20 | 20 | 21 | 23 | 24 | 22 | 20 |
| Profit before tax | (1) | (1) | (0) | 0 | 1 | 1 | 1 | (1) |
| Net profit | (1) | (1) | (1) | 0 | 1 | 1 | 1 | 2 |
| EPS (₹) | (0.67) | (0.53) | (0.53) | 0.35 | 0.89 | 0.97 | 0.57 | 1.48 |
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) | 18.5 | 31.2 | 41 of 158 | 75% |
| P/B | 1.1 | 3.1 | 23 of 163 | 86% |
| ROCE | 2.3 | 10.8 | 141 of 183 | 23% |
| ROE | 5.8 | 9.8 | 112 of 166 | 33% |
| Debt / Equity | 0.8 | 0.2 | 150 of 166 | 10% |
| EBITDA margin | 11.3 | 17.5 | 114 of 165 | 31% |
| Revenue growth | (7.0) | 16.3 | 131 of 161 | 19% |
| Profit growth | 317.1 | 30.9 | 17 of 158 | 90% |
| Market cap | 74 | 857 | 140 of 181 | 23% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Q2 FY26-27 | compliance | minimal | — | — |
| 5 Oct 2026 · Credit Rating Upgraded to BBB-/A3 by Brickwork | credit debt | high | — | — |
| 29 Sept 2026 · 52nd AGM results: all resolutions passed with requisite majority | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Sunil Healthcare 52nd AGM proceedings held on September 28, 2026 | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1, 2026 until Q2 FY27 results are declared | compliance | minimal | — | — |
| 14 Sept 2026 · Book Closure from 22-28 Sep 2026 for 52nd AGM; E-voting from 25-27 Sep | board shareholder meetings | low | — | — |
| 3 Sept 2026 · 52nd AGM on Sep 28, 2026; book closure Sep 22 to 28 | compliance | minimal | — | — |
| 2 Sept 2026 · Sunil Healthcare submits FY26 annual report, 52nd AGM on Sep 28 | compliance | minimal | — | — |
| 2 Sept 2026 · 52nd AGM Notice - September 28, 2026 via Video Conferencing | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Sunil Healthcare publishes notice for shareholder email update facility for 52nd AGM | 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.