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Godavari Drugs financials: balance sheet, profit and loss, cash flow

BSE: 530317Pharmaceuticals & BiotechnologySmall Cap

Godavari Drugs Ltd. · Face value ₹10 · Listed May 1995
Last close ₹123.20up ₹2.20 (1.82%)

Share price at the BSE close on 29 Oct 2026. Previous close ₹121.00.

29 Oct: open ₹122.20, high ₹124.60, low ₹122.20

52-week range of traded prices to 29 Oct 2026
₹69.70Low, 9 Dec 2025₹144.35High, 12 Oct 2026
Market cap
₹125 Cr3,042nd largest listed
P/E
30.01
P/B
1.65
Dividend yield
Nonein the last 12 months
ROE
7.0%
ROCE
4.9%
Debt to equity
1.01
Volume, BSE
6,505

Godavari Drugs' financial statements for the 10 years to Mar 2026, standalone: the listed company alone, without its subsidiaries, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Godavari Drugs annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
831.8Mar 17640.8Mar 18841.221Mar 19962.026Mar 201234.128Mar 211615.220Mar 221603.833Mar 231575.556Mar 241134.462Mar 251064.176Mar 26

Operating and net margin, per cent

  • Operating margin
  • Net margin
10.4%1.3%6.3%6.3%6.6%6.3%8.0%7.0%6.2%8.5%10.4%9.7%2.2%1.3%1.4%2.1%3.4%3.3%2.4%3.5%3.9%3.9%Mar 17Mar 19Mar 21Mar 23Mar 25Mar 26

The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

  1. Revenue106
  2. Materials and goods−77
  3. Employee costs−5.7
  4. Other expenses−12
  5. Operating profit10
  6. Depreciation−2.4
  7. Other income+0.8
  8. One-off items+0.4
  9. Finance costs−4.0
  10. Profit before tax5.1
  11. Tax−1.0
  12. Net profit4.1

What the company owns

  • Plant, investments and other assets₹96 Cr
  • Inventory₹46 Cr
  • Receivables₹44 Cr
  • Cash and bank₹15 Cr

What pays for it: net worth and liabilities

  • Borrowings₹76 Cr
  • Net worth₹76 Cr
  • Owed to suppliers₹35 Cr
  • Other liabilities₹14 Cr

Profit and loss

Standalone, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Godavari Drugs quarterly results

₹ croreMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Filed 19 AprMar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 27 MayJun 2026Twelve monthsFiled 14 Aug
Revenue from operations83648496123161160157113106110
7860789011315015014310295100
Materials and goods bought5949657797130128121827780
Employee costs–3334555566
Other expenses–8101012141717151214
Operating profit before depreciation545610111013121010
Operating margin6.3%6.3%6.6%6.3%8.0%7.0%6.2%8.5%10.4%9.7%9.0%
Materials, % of revenue–76.5%77.7%80.1%78.7%81.0%80.2%77.1%72.0%73.2%72.9%
Employee costs, % of revenue–4.1%4.1%3.6%3.2%3.1%3.0%3.3%4.4%5.4%5.3%
Other expenses, % of revenue–13.1%11.6%10.0%10.0%8.9%10.5%11.1%13.1%11.6%12.8%
Depreciation and amortisation11111222222
Operating profit after depreciation4345910811988
Other income11000011111
Finance costs32333345544
Profit before one-off items and tax31226757655
One-off items––000000000
Profit before tax31226757655
10102211111
Net profit21124546444
Net margin2.2%1.3%1.4%2.1%3.4%3.3%2.4%3.5%3.9%3.9%3.8%
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2017 they do not, so they are left blank.

Balance sheet

Standalone, ₹ crore, at 31 March.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Filed 19 AprMar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 27 May
1820243033394376
Share capital888888810
Reserves1113172226313666
2126282033566276
4651515874827385
1012161414142739
Total assets758491101121135143200
1723242734466489
57616874878879112
Net debt1925261830535962
Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March.

₹ croreMar 2021Mar 2022Filed 19 AprMar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 27 May
1.311.213.218.411.20.7
2.912.514.420.013.32.7
−6.91.74.26.20.5−8.7
Receivables−9.1−10.5−2.4−1.517.1−1.3
Inventories3.14.6−9.8−0.8−7.3−18.1
Other working capital−0.97.616.48.5−9.310.6
Tax paid−1.2−1.20.00.0−1.2−1.2
Interest paid0.00.0−1.0−1.00.00.0
Capital spending1.75.29.313.220.026.7
Free cash flow−0.36.03.95.2−8.8−26.0
−1.3−5.0−8.6−13.2−19.5−25.9
0.1−5.6−3.8−5.78.137.4
Dividends paid0.00.00.00.00.00.0
Shares bought back0.00.00.00.00.00.0
Shares issued0.00.00.00.00.028.4
Net change in cash0.20.60.8−0.5−0.212.1
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Per share

Standalone, ₹ per share, years to March.

₹ per shareMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Filed 19 AprMar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 27 May
Earnings per share₹2.40₹1.10₹1.60₹2.66₹5.48₹6.97₹5.03₹7.37₹5.82₹5.43
Diluted earnings per share₹2.40₹1.10₹1.60₹2.66₹5.48₹6.97₹5.03₹7.37₹5.82₹5.36
Book value per share––₹24.24₹26.90₹32.38₹39.35₹44.38₹51.74₹57.56₹74.85
Shareholder yield––––0.0%0.0%0.0%0.0%0.0%−43.8%
Market cap at the year end (₹ crore)28.523.817.68.734.549.257.070.065.964.8

Ratios

Standalone, years to March.Godavari Drugs PE ratio and valuation

RatioMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Filed 19 AprMar 2023Filed 29 MayMar 2024Mar 2025Mar 2026Filed 27 May
Revenue growth–––14.5%28.2%31.3%−0.9%−1.8%−27.7%−6.7%
Operating profit growth–−22.6%35.6%10.2%62.8%14.9%−12.1%34.1%−11.1%−12.8%
Net profit growth–−54.2%45.8%65.6%106.3%27.1%−27.8%46.6%−21.1%−6.6%
Earnings per share growth–−54.2%45.5%66.3%106.0%27.2%−27.8%46.5%−21.0%−6.7%
––6.6%10.4%18.5%19.4%12.0%15.3%10.6%6.9%
–––3.8 pts8.1 pts0.9 pts−7.4 pts3.3 pts−4.7 pts−3.8 pts
From the net margin–––2.9 pts6.3 pts−0.6 pts−5.3 pts5.9 pts1.4 pts0.0 pts
From asset turnover–––0.8 pts2.7 pts3.5 pts−2.0 pts−2.6 pts−5.6 pts−2.6 pts
From borrowing–––0.1 pts−0.9 pts−1.9 pts−0.1 pts0.0 pts−0.5 pts−1.2 pts
Return on capital employed––11.2%10.5%16.4%19.2%11.9%12.0%8.9%5.2%
Cash conversion––––32.2%214.1%349.1%331.8%255.6%17.9%
Interest cover1.81.31.51.72.63.42.02.32.02.0
Debt to equity––1.151.291.150.691.001.431.421.01
Receivable days––148137134126132138136150
Inventory days––938555285762125217
Payable days––17114411112113296128163
Cash conversion cycle, days––7078783358105133204
Working capital days––9988865273113132178
Asset turnover––1.121.211.401.671.431.220.820.62
Assets per rupee of net worth––4.094.123.923.563.533.543.382.88
Sales per rupee of plant––5.586.935.476.146.415.873.483.49
Capital spending to depreciation––––1.373.094.786.628.1710.99
Plant being built, % of plant in use––13.7%64.6%3.4%1.9%36.4%68.7%91.8%186.5%
Revenue growth is left blank for the years to Mar 2018 and Mar 2019: between the two periods excise duty was taken out of revenue when GST replaced it, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year
2.4%
Cash from operations against operating profit
7.1%
Measure10 years5 years3 years
Revenue growth, yearly rate–−2.9%−12.8%
Profit growth, yearly rate–−0.2%2.6%
Return on equity, average–12.9%10.9%
Return on capital employed, average–11.4%8.7%
Operating margin, average7.5%8.4%9.6%
Net margin, average2.7%3.4%3.8%
Asset turnover, average–1.150.89
Cash conversion cycle, days, average–106147
Interest cover, average2.02.32.1
Debt to equity, average–1.111.29

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations54.830.30.7
Cash from investing−72.3−58.7−25.9
Cash from financing30.439.837.4
Capital spending74.559.926.7
Dividends paid0.00.00.0
Shares bought back0.00.00.0
Shares issued for cash28.428.428.4
Borrowings raised–25.813.1
Borrowings repaid0.80.80.0

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9––––776753
Altman Z-scorePublished threshold 1.81––1.891.782.472.822.372.281.831.71
Beneish M-scorePublished threshold −1.78––––−2.42−2.570.57−2.69−2.86−2.17
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––4.63−1.05−0.710.289.1417.06
Cash from operations to profit, 3 yearsPublished threshold 0.7 times––––––1.962.943.122.16
Receivables growth less revenue growthOur threshold 0 percentage points–––−8.47−2.91−8.165.164.39−1.119.62
Inventory growth less cost-of-goods growthOur threshold 0 percentage points–––−10.32−43.45−66.5799.739.6667.7169.95
Other current assets growth less revenue growthOur threshold 5 per cent of revenue–––0.090.410.12−0.37−0.220.191.64
Assets under construction, years of additionsOur threshold 2 years of additions–––1,102.410.080.0915.074.863.58431.26
Effective tax ratePublished threshold 17.16 per cent33.2036.9130.7812.5927.6625.2923.2819.8322.1419.24
Tax charged less tax paid, % of profitOur threshold 10 percentage points–––––7.8123.2819.831.60−4.27
A threshold marked as ours has no published figure; it is the line we read the check against.