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Unichem Laboratories financials: balance sheet, profit and loss, cash flow

NSE: UNICHEMLABBSE: 506690Pharmaceuticals & BiotechnologySmall Cap

Unichem Laboratories Limited · Face value ₹2 · Listed Jun 1963 on BSE, Feb 2001 on NSE
Last close ₹504.95up ₹16.15 (3.30%)BSE ₹504.25

Share price at the NSE close on 29 Oct 2026. Previous close ₹488.80.

29 Oct: open ₹488.80, high ₹510.00, low ₹487.00

52-week range of traded prices to 29 Oct 2026
₹278.20Low, 30 Mar 2026₹687.20High, 9 Jul 2026
Market cap
₹3,555 Cr1,036th largest listed
P/E
11.66
P/E without one-offs
35.59
P/B
1.31
Dividend yield
Nonein the last 12 months
ROE
11.8%
ROE without one-offs
3.9%
ROCE
3.3%
Debt to equity
0.17
Volume, NSE
38,03545.7% delivered

Unichem Laboratories' financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Unichem Laboratories annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
  • Loss
1,535109Mar 178182,545Mar 181,180−24200Mar 191,211−60184Mar 201,23534101Mar 211,27033330Mar 221,343−202297Mar 231,705−70219Mar 242,111138430Mar 252,202253469Mar 26
A loss in 4 of the 10 years shown

Operating and net margin, per cent

  • Operating margin
  • Net margin
311.0%−16.1%11.6%−16.1%−7.1%−4.2%7.4%5.7%−3.4%5.9%12.5%8.4%7.1%311.0%−2.0%−5.0%2.8%2.6%−15.1%−4.1%6.5%11.5%Mar 17Mar 19Mar 21Mar 23Mar 25Mar 26

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out.

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. From the year to Mar 2025, the company's revenue for that year, ₹2,111 Cr, differs from its quarters added, ₹2,029 Cr.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

  1. Revenue2,202
  2. Materials and goods−1,021
  3. Employee costs−397
  4. Other expenses−601
  5. Operating profit184
  6. Depreciation−125
  7. Other income+63
  8. One-off items+202
  9. Finance costs−32
  10. Profit before tax292
  11. Tax−40
  12. Net profit253

What the company owns

  • Plant, investments and other assets₹1,639 Cr
  • Inventory₹975 Cr
  • Receivables₹829 Cr
  • Cash and bank₹295 Cr

What pays for it: net worth and liabilities

  • Net worth₹2,717 Cr
  • Borrowings₹469 Cr
  • Owed to suppliers₹357 Cr
  • Other liabilities₹195 Cr

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Unichem Laboratories quarterly results

₹ croreMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026Twelve monthsFiled 11 Aug
Revenue from operations1,5358181,1801,2111,2351,2701,3431,7052,1112,2022,308
1,3579501,2641,2611,1441,1971,3891,6051,8462,0182,079
Materials and goods bought5133584453873794165516658641,0211,064
Employee costs–201239273307330356393402397396
Other expenses–391580601458451481547580601620
Operating profit before depreciation179−132−83−519173−46100265184229
Operating margin11.6%−16.1%−7.1%−4.2%7.4%5.7%−3.4%5.9%12.5%8.4%9.9%
Materials, % of revenue–43.8%37.7%31.9%30.7%32.7%41.0%39.0%40.9%46.3%46.1%
Employee costs, % of revenue–24.5%20.3%22.6%24.9%26.0%26.5%23.1%19.1%18.0%17.1%
Other expenses, % of revenue–47.8%49.1%49.7%37.1%35.5%35.8%32.1%27.5%27.3%26.8%
Depreciation and amortisation455167828491113113125125123
Operating profit after depreciation133−183−151−1327−18−159−1314059105
Other income1161989150483932356372
Finance costs3888561723213232
Profit before one-off items and tax141−130−60−495223−138−415591145
One-off items000000−39−580202205
Profit before tax141−130−60−495223−176−62155292350
333−341217−11269174046
Share of profit of joint ventures and associates–0010−1–––––
Profit from discontinued businesses––2––––––––
Net profit1092,545−24−603433−202−70138253305
Other comprehensive income––23165446−5−7126
Total comprehensive income––−22−575187−156−76131265311
Net margin7.1%311.0%−2.0%−5.0%2.8%2.6%−15.1%−4.1%6.5%11.5%13.2%
Net margin without joint ventures and associates–311.0%−2.0%−5.0%2.8%2.7%–––––
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

Consolidated, ₹ crore, at 31 March.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
2,6202,5312,5572,6182,4352,3622,4512,717
Share capital1414141414141414
Reserves2,6062,5172,5432,6042,4212,3482,4372,703
200184101330297219430469
503567506552640708992886
27476314811899127134
3,1503,1453,1263,3193,1933,1693,5693,737
1,1101,4581,7481,6701,6011,4721,5311,537
2,0381,6861,3771,6451,5881,6942,0292,197
Net debt−802−469−218−4711063312174
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

Consolidated, ₹ crore, years to March.

₹ croreMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
33−260−8517−74
47−235−72241211
−70−354−29−103−294−208
Receivables126−277−124−25−39−21
Inventories−142−62−25−79−25214
Payables−40−151199−2−201
Other working capital−1400−700
Tax paid−14−8−12−6−16−8
Capital spending2881274423137123
Free cash flow−255−387−129−6−144−119
−7410020350−241192
−121191−81−1061842
Dividends paid292828000
Shares bought back000000
Shares issued000000
Net change in cash−1623236−39−64198
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

Consolidated, ₹ per share, years to March.Unichem Laboratories dividend history

₹ per shareMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Earnings per share₹11.92₹280.60−₹3.38−₹8.55₹4.88₹4.70−₹28.72−₹10.01₹19.53₹35.91
Diluted earnings per share₹11.90₹280.41−₹3.38−₹8.55₹4.88₹4.68−₹28.72−₹10.01₹19.47₹35.85
Dividend per share₹3.00₹5.00₹4.00₹4.00₹4.00₹4.00––––
Book value per share––₹372.23₹359.54₹363.16₹371.90₹345.89₹335.54₹348.10₹386.00
Dividend payout25.1%1.4%––82.0%85.2%––––
Shareholder yield––––1.3%1.5%1.4%0.0%0.0%0.0%
Market cap at the year end (₹ crore)2,6092,5941,3701,0972,1871,8302,0403,4644,9072,066

Ratios

Consolidated, years to March.Unichem Laboratories PE ratio and valuation

RatioMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue growth15.1%––2.6%2.0%2.8%5.8%26.9%–4.3%
Operating profit growth9.0%––––−20.1%–––−30.5%
Net profit growth0.6%2,241.8%–––−3.7%–––83.9%
Earnings per share growth0.2%2,254.0%–––−3.7%–––83.9%
––−0.9%−2.3%1.3%1.3%−8.0%−2.9%5.7%9.8%
–––−1.4 pts3.7 pts−0.1 pts−9.3 pts5.1 pts8.7 pts4.1 pts
From the net margin–––−1.3 pts3.6 pts−0.1 pts−8.7 pts5.8 pts7.6 pts4.4 pts
From asset turnover–––−0.1 pts0.0 pts0.0 pts−0.3 pts−0.7 pts0.8 pts−0.4 pts
From borrowing–––0.0 pts0.0 pts0.0 pts−0.3 pts−0.1 pts0.3 pts0.1 pts
Return on capital employed––−5.4%−4.9%0.3%−0.6%−5.8%−0.5%4.9%1.9%
Cash conversion––––96.4%−785.2%––−5.1%1.4%
Interest cover39.5–––1.3–––6.71.9
Debt to equity––0.080.070.040.130.120.090.180.17
Receivable days––13511874142160131135137
Inventory days––278374518527414387418349
Payable days––182236202161193164170128
Cash conversion cycle, days––231256390508382353382359
Working capital days––227196193275271217223240
Asset turnover––0.370.380.390.390.410.540.630.60
Assets per rupee of net worth––1.201.221.231.251.291.331.401.41
Sales per rupee of plant––1.471.401.411.281.071.431.651.83
Capital spending to depreciation––––3.411.390.390.201.100.98
Plant being built, % of plant in use––11.5%38.2%64.6%50.0%11.7%10.3%2.4%8.3%
Interest cover is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2022, Mar 2023 and Mar 2024: operating profit after depreciation is a loss, and a loss covers no interest bill. 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. Revenue growth and operating profit growth are left blank for the year to Mar 2025: between the two periods the company restated its earlier figures, 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

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year
6.9%
Cash from operations against operating profit
2.0%
Measure10 years5 years3 years
Return on equity, average–1.2%4.2%
Return on capital employed, average–0.0%2.1%
Operating margin, average2.1%5.8%8.9%
Net margin, average31.5%0.3%4.6%
Asset turnover, average–0.510.59
Cash conversion cycle, days, average–397365
Interest cover, average––4.3
Debt to equity, average–0.140.15

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations−331134
Cash from investing3041192
Cash from financing189792
Capital spending454283123
Dividends paid5710
Shares bought back000
Shares issued for cash000
Borrowings raised55031175
Borrowings repaid18914642

Accounting checks

Consolidated, 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––––643746
Altman Z-scorePublished threshold 1.81––3.612.964.243.473.294.484.693.52
Beneish M-scorePublished threshold −1.78––––−2.51−1.33−2.64−2.62−2.20−1.94
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––2.395.98−9.83−4.3211.451.56
Cash from operations to profit, 3 yearsPublished threshold 0.7 times–––––––––0.04
Receivables growth less revenue growthOur threshold 0 percentage points–––−13.12−37.8895.1513.05−23.243.772.09
Inventory growth less cost-of-goods growthOur threshold 0 percentage points–––30.1237.661.89−28.32−7.9310.36−19.56
Other current assets growth less revenue growthOur threshold 5 per cent of revenue–––−1.251.86−7.741.202.10−3.75−2.05
Assets under construction, years of additionsOur threshold 2 years of additions–––2.335.752.460.392.340.152.02
Effective tax ratePublished threshold 17.16 per cent23.10–––33.10−48.17––11.0413.52
Tax charged less tax paid, % of profitOur threshold 10 percentage points–––––−81.23––0.4210.93
A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

DateAgencyBorrowing ratedRatingOutlookAmount, ₹ Cr
9 Apr 2026ICRA LimitedFund-based/Non-fund based-Others[ICRA]A+Review, Re-affirmStable120
9 Apr 2026ICRA LimitedUnallocated limits-Unallocated limits[ICRA]A+Review, Re-affirmStable60
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.