IPCA Laboratories logo

IPCA Laboratories share price

NSE: IPCALABBSE: 524494Pharmaceuticals & BiotechnologyMid Cap

IPCA Laboratories Limited · Face value ₹1 · Listed May 1994 on BSE, Feb 1995 on NSE
Last close ₹1,930.50down ₹50.30 (2.54%)BSE ₹1,928.45

Share price at the NSE close on 28 Oct 2026. Previous close ₹1,980.80.

28 Oct: open ₹1,980.00, high ₹1,988.50, low ₹1,920.10

52-week range of traded prices to 28 Oct 2026
₹1,268.00Low, 31 Oct 2025₹2,038.00High, 18 Sep 2026
Market cap
₹48,978 Cr229th largest listed
P/E
37.39
P/B
6.07
Dividend yield
0.31%
ROE
17.4%
ROCE
17.6%
Debt to equity
0.07
Volume, NSE
1,75,48945.2% delivered

IPCA Laboratories share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+50.1%over a year · Nifty Pharma +19.3% · Nifty 500 −8.8%

Results20-session average 2,52,110 shares a day, 55.8% delivered

About IPCA Laboratories

IPCA Laboratories Limited is a Mumbai-based drug company that develops, makes and markets branded and generic medicines and active pharmaceutical ingredients (APIs, the chemical raw material of medicines).1 It sells in India and abroad, to wholesalers, distributors, pharmacy chains, hospitals, government institutions and other drug companies.21

It makes and markets over 350 formulations (finished medicines) and 80 APIs across therapy areas, and its products are sold in over 100 countries.3 Exports are over 42% of its standalone revenue, that is, the company's own sales without its subsidiaries.4 In India it sells through about 7,000 medical representatives; abroad it promotes its own brands through field forces in Africa and Asian countries such as Nepal, Sri Lanka and Vietnam.56 In the US its step-down subsidiary Unichem Pharmaceuticals (USA) distributes the medicines it makes, and in the United Kingdom it sells generics under its own label.67 It has 16 manufacturing units in India, and 23 together with its subsidiaries.89

It was incorporated in 1949.10 It holds 52.67% of Unichem Laboratories, its one listed Indian subsidiary.111213 Its promoters, who held 44.72% of the shares in its filing of 26 Jun 2026, include Executive Chairman Premchand Godha and his sons Pranay Godha, Managing Director and CEO, and Prashant Godha, Executive Director.141516

IPCA Laboratories key points

Results

  • In the quarter to Jun 2026, consolidated total income was ₹2,813.36 crore, up 20% from ₹2,341.51 crore a year earlier, and profit after tax was ₹401.89 crore, up 72%.17
  • Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) for the quarter was about ₹638 crore, against ₹425 crore, a margin of 22.88% against 18.39%.18
  • In the year to Mar 2026, consolidated total income rose 8.73% to ₹9,820.78 crore from ₹9,032.39 crore.19
  • For that year, consolidated earnings before interest, depreciation, tax and one-off items were ₹2,153.01 crore, against ₹1,818.94 crore, and net profit after one-off items rose 51.28% to ₹1,191.37 crore from ₹787.53 crore.20

Market position

  • It ranked 16th in the Indian medicine market in the year to June 2026, by sales data from IQVIA, a research firm, with a market share of about 2.08% against 2.07% in March 2026.2122
  • 6 of its brands are among India's 300 top-selling medicine brands: Zerodol-SP, Zerodol-P, HCQS, Folitrax, CTD-T and Zerodol TH.2324

Revenue mix

  • Standalone sales by business2526
    Itemyear to Mar 2026year to Mar 2025
    Branded medicines, India₹3,817.24 crore₹3,450.21 crore
    Generic and tender medicines, exports₹1,418.91 crore₹1,336.69 crore
    APIs and intermediates₹1,395.74 crore₹1,265.84 crore
    Branded medicines, exports₹663.67 crore₹581.89 crore
    Nearly 75% of API and intermediate sales are exports.
  • Non-steroidal anti-inflammatory drugs (NSAIDs, common painkillers) were 53% of its domestic branded sales in the year to Mar 2026, as a year earlier.27
  • In the quarter to Jun 2026, domestic formulation sales grew 13% to about ₹1,082 crore from ₹961 crore, and API sales grew about 30% to about ₹424 crore from ₹362 crore.28

Where revenue comes from

  • Standalone exports by region293031
    Itemyear to Mar 2026year to Mar 2025
    Europe₹884.59 crore₹806.11 crore
    Americas₹665.33 crore₹536.00 crore
    Africa₹594.48 crore₹545.70 crore
    Asia, excluding India₹398.17 crore₹391.86 crore
    Australasia₹317.68 crore₹283.03 crore
    CIS (former Soviet states)₹269.18 crore₹246.26 crore
    Total exports were ₹3,129.43 crore, against ₹2,808.96 crore.

Plants and capacity

  • A new API and drug intermediates plant at Hingni, Wardha district, Maharashtra, built for ₹182 crore, began commercial production in February 2026.32
  • The company stated in its annual report for the year to Mar 2026 that it is building a formulations plant at Dewas, Madhya Pradesh, at about ₹275 crore, for trial production in the year to Mar 2027.33
  • The company stated in its annual report for the year to Mar 2026 that its US subsidiary Pisgah Laboratories is building a liquids and injectables plant in North Carolina at about $22 million, for trial production in the year to Mar 2027.34

Research and development

  • It has R&D centres at Mumbai, Ratlam, Athal (Silvassa) and Ranu (Vadodara) and over 650 scientists, and has filed 287 patent applications.3536
  • In the US it has filed 47 ANDAs (applications to sell a generic medicine), of which 33 are approved, and 50 drug master files (dossiers on how an API is made).3738
  • For biosimilars (near-copies of biological medicines), it has set up a monoclonal antibody plant at Pithampur at about ₹250 crore, and a bio-manufacturing facility with 500 and 2,000 litre capacity.3940

What the company expects

  • On its earnings call of 14 Aug 2026, the company said it expects business growth of about 14% to 16% in the year to Mar 2027, raised from 12% to 13%, and a consolidated EBITDA margin of about 23%, raised from 22%.41
  • On its earnings call of 14 Aug 2026, the company said it expects capital spending of about ₹700 crore to ₹800 crore in the year to Mar 2027, partly on new API plants at Dewas and Wardha as Ratlam runs out of capacity.42
  • On its earnings call of 14 Aug 2026, the company said it plans to invest about ₹100 crore more this year in biotech pilot facilities and R&D, with clinical work on its biosimilars starting next financial year.4344

Recent events

  • On 7 Jul 2026, India Ratings & Research affirmed its credit ratings (the agency's view of its ability to repay): IND AA+/Stable on ₹22,481.10 million of bank loan facilities and IND A1+ on commercial paper.4546
  • On 26 Jun 2026, the board approved merging Krebs Biochemicals & Industries, a maker of fermentation-based APIs, into the company, at 7 company shares for every 200 Krebs shares held by others, subject to approvals.474849
  • On 12 Jun 2026, the company signed a global licensing agreement with Bhami's Research Laboratory for its under-the-skin delivery platform, to develop monoclonal antibody medicines for cancer and inflammatory diseases.50
  • From 1 to 5 Dec 2025, the US FDA inspected the company's API plant at Tarapur, Maharashtra, and issued a Form 483 (a list of inspection observations) with 3 observations; the company's documents give no outcome.51

Last updated

All 51 sources, each with its page
  1. 1. Annual report, 14 Jul 2026, page 115
  2. 2. Annual report, 14 Jul 2026, page 61
  3. 3. Annual report, 14 Jul 2026, page 115
  4. 4. Annual report, 14 Jul 2026, page 61
  5. 5. Earnings call, 14 Aug 2026, page 8
  6. 6. Annual report, 14 Jul 2026, page 24
  7. 7. Annual report, 14 Jul 2026, page 23
  8. 8. Annual report, 14 Jul 2026, page 115
  9. 9. Annual report, 14 Jul 2026, page 193
  10. 10. Annual report, 14 Jul 2026, page 115
  11. 11. Annual report, 14 Jul 2026, page 194
  12. 12. Annual report, 14 Jul 2026, page 48
  13. 13. Annual report, 14 Jul 2026, page 26
  14. 14. Exchange filing, 26 Jun 2026, page 5
  15. 15. Annual report, 14 Jul 2026, page 18
  16. 16. Annual report, 14 Jul 2026, page 33
  17. 17. Investor presentation, 1 Sep 2026, page 23
  18. 18. Earnings call, 14 Aug 2026, page 4
  19. 19. Annual report, 14 Jul 2026, page 22
  20. 20. Annual report, 14 Jul 2026, page 22
  21. 21. Investor presentation, 1 Sep 2026, page 26
  22. 22. Earnings call, 14 Aug 2026, page 3
  23. 23. Investor presentation, 1 Sep 2026, page 26
  24. 24. Annual report, 14 Jul 2026, page 22
  25. 25. Investor presentation, 1 Sep 2026, page 14
  26. 26. Annual report, 14 Jul 2026, page 25
  27. 27. Investor presentation, 1 Sep 2026, page 24
  28. 28. Earnings call, 14 Aug 2026, page 3
  29. 29. Annual report, 14 Jul 2026, page 23
  30. 30. Annual report, 14 Jul 2026, page 24
  31. 31. Annual report, 14 Jul 2026, page 23
  32. 32. Annual report, 14 Jul 2026, page 26
  33. 33. Annual report, 14 Jul 2026, page 26
  34. 34. Annual report, 14 Jul 2026, page 26
  35. 35. Annual report, 14 Jul 2026, page 26
  36. 36. Investor presentation, 1 Sep 2026, page 54
  37. 37. Investor presentation, 1 Sep 2026, page 40
  38. 38. Annual report, 14 Jul 2026, page 24
  39. 39. Annual report, 14 Jul 2026, page 26
  40. 40. Investor presentation, 1 Sep 2026, page 55
  41. 41. Earnings call, 14 Aug 2026, page 12
  42. 42. Earnings call, 14 Aug 2026, page 11
  43. 43. Earnings call, 14 Aug 2026, page 13
  44. 44. Earnings call, 14 Aug 2026, page 14
  45. 45. Exchange filing, 7 Jul 2026, page 1
  46. 46. Exchange filing, 7 Jul 2026, page 1
  47. 47. Exchange filing, 26 Jun 2026, page 1
  48. 48. Exchange filing, 26 Jun 2026, page 3
  49. 49. Exchange filing, 26 Jun 2026, page 4
  50. 50. Exchange filing, 12 Jun 2026, page 2
  51. 51. Exchange filing, 5 Dec 2025, page 1

Results

Consolidated; ₹ crore.IPCA Laboratories quarterly results

Revenue growth, 12 months
+10.6%
Net profit growth, 12 months
+68.2%

Quarter to Jun 2026, against the quarter before

Revenue
₹2,788 Crup 16.73%
Net profit
₹424 Crup 38.34%
Net margin
15.2%

Revenue by quarter

₹2,355 CrSep 24₹2,245 CrDec 24₹2,247 CrMar 25₹2,309 CrJun 25₹2,557 CrSep 25₹2,393 CrDec 25₹2,388 CrMar 26₹2,788 CrJun 26
Peak revenue ₹2,788 Cr, quarter to Jun 2026; lowest ₹2,245 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹246 CrSep 24₹276 CrDec 24₹64 CrMar 25₹233 CrJun 25₹281 CrSep 25₹364 CrDec 25₹307 CrMar 26₹424 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue2,3552,2452,2472,3092,5572,3932,3882,788
Net profit24627664233281364307424
Net margin10.4%12.3%2.8%10.1%11.0%15.2%12.8%15.2%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Pharmaceuticals, which carries all its revenue.

Valuation

Today, against the company's own history.IPCA Laboratories PE ratio and valuation

Price to earnings

At or below today's level on 64% of 2,351 trading days over the last 10 years.

LowestHighest
Its median33.69Industry median28.15
Price to book

At or below today's level on 86% of 1,971 trading days since Nov 2018.

LowestHighest
Its median4.96Industry median2.95
Dividend yield

At or below today's level on 62% of 2,466 trading days over the last 10 years.

LowestHighest
Its median0.27%Industry median0.49%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+7.0%+54.7%−31.1%0.4%
3 years+25.8%+34.3%−6.5%0.3%
5 years+11.3%0.0%+11.0%0.4%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 year includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2025.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.IPCA Laboratories shareholding pattern

Shareholding by group

  • Promoters44.72%
  • Foreign institutions11.53%
  • Indian institutions36.59%
  • Individuals and others7.15%
Holder
Kaygee Investments Private LimitedPromoter25.49%
Kaygee Laboratories Private LimitedPromoter6.61%
Chandurkar Investments Private LimitedPromoter5.50%
SBI LIFE INSURANCE CO. LTDInsurance companies3.53%
Premchand GodhaPromoter2.29%
Usha M ChandurkarPromoter1.70%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions +0.80 pts, Indian institutions −0.78 pts, mutual funds −0.08 pts.

Mutual fund holdings

159 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 71 of the 95 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 159 funds holding IPCA Laboratories

Bought for the first time
2
Added
45
Cut
50
Held unchanged
61
Sold out
2
Fund
HDFC Mutual Fund logoHDFC Mid Cap FundHDFC Mutual Fund1,81,40,6593.43%₹3,495.7 Cr
Kotak Mahindra Mutual Fund logoKotak Mid Cap FundKotak Mahindra Mutual Fund1,23,48,0473.57%₹2,379.5 Cr
Axis Mutual Fund logoAxis Midcap FundAxis Mutual Fund40,05,4252.30%₹771.8 Cr
Nippon India Mutual Fund logoNippon India Growth Mid Cap FundNippon India Mutual Fund31,00,0001.19%₹597.4 Cr
DSP Mutual Fund logoDSP Midcap FundDSP Mutual Fund28,75,3532.84%₹554.1 Cr
Kotak Mahindra Mutual Fund logoKotak Large & Mid Cap FundKotak Mahindra Mutual Fund25,25,0001.59%₹486.6 Cr
HDFC Mutual Fund logoHDFC Balanced Advantage FundHDFC Mutual Fund24,97,1230.47%₹481.2 Cr
DSP Mutual Fund logoDSP Small Cap FundDSP Mutual Fund23,81,2392.14%₹458.9 Cr
Edelweiss Mutual Fund logoEdelweiss Mid Cap FundEdelweiss Mutual Fund18,33,4651.84%₹353.3 Cr
DSP Mutual Fund logoDSP Healthcare FundDSP Mutual Fund15,82,8078.13%₹305.0 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.IPCA Laboratories insider trading

Bought on the market Sold on the market
  • Others0 purchases, 1 saleNo purchase₹0.44 CrNet−₹0.44 Cr3 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

IPCA Laboratories competitors and peers

Pharmaceuticals, 214 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to IPCA Laboratories in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Alkem Laboratories logoAlkem LaboratoriesALKEM60,61928.104.39+13.4%−5.6%16.7%16.5%1.05%
Biocon logoBioconBIOCON57,153115.391.68+9.8%+28.6%1.8%2.9%0.14%
Abbott India logoAbbott IndiaABBOTINDIA55,83334.5811.69+6.3%+11.2%35.9%39.6%2.50%
Gland Pharma logoGland PharmaGLAND50,31244.574.86+17.6%+46.5%11.6%12.4%0.66%
Ajanta Pharma logoAjanta PharmaAJANTPHARM43,23338.109.55+20.2%+22.0%27.3%27.2%1.73%
GlaxoSmithKline Pharmaceuticals logoGlaxoSmithKline PharmaceuticalsGLAXO42,31839.6218.66+5.8%+12.4%50.6%56.3%2.28%
Emcure Pharmaceuticals logoEmcure PharmaceuticalsEMCURE35,57135.177.19+18.4%+35.9%21.5%25.2%0.19%
Sai Life Sciences logoSai Life SciencesSAILIFE31,59187.3312.72––15.7%18.7%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.IPCA Laboratories dividend history

Dividend per share, ₹, restated for later splits and bonuses

0.5Mar 170.5Mar 181.5Mar 192.5Mar 204Mar 214Mar 224Mar 234Mar 244Mar 256Mar 26
Highest ₹6.00 a share, year to Mar 2026.
Ex-dateTypePer share
7 Aug 2026Final₹6.00
5 Aug 2025Final₹2.00
27 Nov 2024Interim₹2.00
6 Aug 2024Final₹2.00
22 Nov 2023Interim₹2.00
22 Nov 2022Interim₹4.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.IPCA Laboratories announcements

IPCA Laboratories share price by year

Each calendar year to 2025.IPCA Laboratories share price history

YearClose at year endChangeHighest closeLowest close
20251,418.90−16.3%1,744.051,268.70
20241,695.20+52.3%1,703.251,077.70
20231,113.15+32.0%1,149.70675.00
2022843.10−22.2%1,099.90843.10
20211,083.40−1.0%1,318.75900.45
20201,094.40+92.6%1,184.05569.18
2019568.13+41.7%579.85361.50
2018401.05+34.1%403.15277.55
2017299.15+12.2%323.23204.40
2016266.53−28.2%371.15203.70
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 20261,949.701,994.001,938.601,980.801,970.331,89,25455.6%
26 Oct 20261,953.301,989.601,922.001,938.601,957.663,32,62648.3%
23 Oct 20261,892.001,979.801,857.701,953.301,918.993,18,78151.9%
22 Oct 20261,898.001,952.001,884.201,903.501,918.583,27,01149.5%
21 Oct 20261,810.001,949.901,797.601,918.901,883.275,11,09039.2%
19 Oct 20261,832.601,853.901,797.001,814.501,827.221,67,62652.6%
16 Oct 20261,907.101,907.101,813.201,832.601,845.222,15,60050.7%
15 Oct 20261,888.001,930.001,888.001,913.101,912.921,66,49365.7%
14 Oct 20261,889.901,929.001,863.201,911.601,889.092,05,49642.8%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
10 Jan 2022Split0.5000Each share became 2.
22 Mar 2010Split0.2000Each share became 5.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
Premchand Godha
At the end of the quarter to Sep 2026
Managing director
A. K. Jain
At the end of the quarter to Sep 2026
Managing director and CEO
Pranay Godha
At the end of the quarter to Sep 2026
NSE symbol
IPCALAB
BSE code
524494
ISIN
INE571A01038
Industry
Pharmaceuticals & Biotechnology
CIN
L24239MH1949PLC007837
Corporate identity number, the registrar of companies' code for it
Incorporated
1949
Registered office
48, Kandivli Industrial Estate, Kandivli (West), Mumbai 400067, Maharashtra
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments