Morepen Laboratories Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹6,519 Cr
- P/E
- 55.53
- ROE
- 5.33%
- PEG
- 3.04
- Price to sales
- 3.33
- Debt to equity
- 0.17
- 52W high / low
- ₹147 / ₹33.7
- Sales growth (5Y)
- 8.73%
- EBITDA margin
- 9.43%
- Net profit margin
- 3.58%
- Promoter holding
- 35.66%
- Sales (last year)
- ₹1,951 Cr
Guidance scorecard · Q2 FY27 call
What Morepen Laboratories Ltd's management guided
and where it ranks in Pharmaceuticals & Biotechnology
Pharmaceuticals & Biotechnology
RevenueQ4 FY25 call
10–20%- The company expects overall growth of 10% to 15% at the company level for FY '26 and FY '27.
- Finished dosage business has shown a 21% growth in 2 years, with expectations of higher growth than API segment.
- API business growth has been muted (~3-4%), but capacity expansion from 314 KL to 600 KL by FY '26 is expected to boost revenues.
- Export focus is increasing, with export revenues growing 26% over 3 years; export now constitutes 72% of business.
- Medical devices segment is expanding capacity significantly (e.g., BP monitors capacity doubling from 9 to 18 lakh units) and expected to deliver strong growth given health awareness trends.
- The new molecule contribution in API is rising, forecasting faster growth in this segment.
2 more points from Morepen Laboratories Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ4 FY25 call
FlatSee what Morepen Laboratories Ltd said on margins — free account, 30 seconds.
CapexQ4 FY25 call
Planned- Morepen Laboratories is completing the expansion of API manufacturing capacity from 314 KL to 600 KL, nearly doubling capacity, expected to be completed within FY '26.
- After the 600 KL capacity expansion, there are no immediate plans for further capacity increases.
- The company is exploring partnerships with outsourcing vendors who have surplus capacity or complementary product mixes.
- Investment is ongoing in backward integration, especially in the medical devices segment, aiming to increase EBITDA margins.
2 more points from Morepen Laboratories Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ4 FY25 call
See what Morepen Laboratories Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY25 call
Flat- The company has 600 KL capacity planned for FY '26, expected to be completed within the year.
- Current installed capacity is 514 KL as part of capacity expansion (91% increase targeted).
- They are working on building a good outsourcing partner network to manage excess demand or capacity shortage.
- Despite a recent price drop of 24%, quantity sold has increased by 57% in APIs, indicating robust order intake.
- Some export orders (US and Europe) were deferred last quarter, impacting short-term revenues.
- Management is in a "wait and watch" mode regarding price acceptance by Indian customers due to recent raw material price increases and global market conditions.
2 more points from Morepen Laboratories Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Pharmaceuticals & Biotechnology
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Pharmaceuticals & Biotechnology companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹556 Cr | 22.1 | |
| 2 | 40%+ | Up 0–2% | ₹215 Cr | 22.2 | |
| 3 | 40%+ | Flat | ₹16,144 Cr | — | |
| 4 | 40%+ | Flat | ₹6,072 Cr | 48.0 | |
| 5 | 40%+ | Flat | ₹40 Cr | — | |
| 6 | 20–40% | Up 2%+ | ₹50,220 Cr | 43.8 |
Sign up free to see every company in the sector ranking and track Morepen Laboratories Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Pharmaceuticals & Biotechnology rankingMorepen Laboratories Ltd announcements
All announcements →- Capex / expansionNotableMorepen Laboratories Completes First Phase of Manufacturing Capacity Expansion Early
Financials of Morepen Laboratories Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Morepen Laboratories Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 38.22% | 38.22% | 38.22% | 35.66% | 35.66% | 35.66% | 35.66% | 35.66% | 35.66% | 35.66% | 35.66% | 35.66% |
| FIIs + | 2.11% | 1.85% | 1.67% | 2.08% | 2.22% | 1.94% | 1.72% | 1.62% | 1.62% | 1.59% | 1.46% | 3.43% |
| DIIs + | 2.21% | 2.15% | 2.14% | 1.69% | 1.64% | 1.67% | 1.50% | 1.49% | 1.25% | 1.25% | 1.28% | 1.70% |
| Government + | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public + | 57.46% | 57.76% | 57.96% | 60.57% | 60.46% | 60.72% | 61.09% | 61.22% | 61.46% | 61.50% | 61.59% | 59.19% |
| No. of Shareholders | 3,04,289 | 3,36,019 | 3,48,766 | 4,30,929 | 4,48,361 | 4,68,860 | 4,61,180 | 4,61,853 | 4,53,137 | 4,47,286 | 4,34,912 | 4,03,932 |
Financials of Morepen Laboratories Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 422 | 445 | 423 | 455 | 438 | 453 | 466 | 425 | 412 | 484 | 485 | 570 | 746 |
| Expenses + | 388 | 394 | 375 | 404 | 394 | 417 | 424 | 401 | 381 | 438 | 460 | 488 | 623 |
| Operating Profit | 34 | 51 | 48 | 52 | 44 | 36 | 42 | 24 | 31 | 46 | 24 | 83 | 123 |
| OPM % | 8% | 11% | 11% | 11% | 10% | 8% | 9% | 6% | 7% | 10% | 5% | 14% | 16% |
| Other Income + | 3 | 4 | 4 | 3 | 5 | 5 | 5 | 4 | 30 | 4 | 8 | 5 | 9 |
| Interest | 0 | 2 | 1 | 1 | 1 | 1 | 5 | 4 | 4 | 4 | 4 | 5 | 5 |
| Depreciation | 8 | 8 | 10 | 6 | 2 | 5 | 16 | 9 | 11 | 10 | 6 | 8 | 10 |
| Profit before tax | 29 | 44 | 42 | 48 | 46 | 35 | 26 | 16 | 46 | 35 | 23 | 75 | 117 |
| Tax % | 26% | 27% | 32% | 25% | 24% | 24% | 21% | 26% | 10% | 22% | 33% | 24% | 24% |
| Net Profit + | 21 | 32 | 29 | 36 | 35 | 27 | 20 | 11 | 41 | 28 | 16 | 56 | 89 |
| EPS in Rs | 0.42 | 0.63 | 0.55 | 0.71 | 0.64 | 0.49 | 0.37 | 0.20 | 0.75 | 0.50 | 0.29 | 1.03 | 1.62 |
Financials of Morepen Laboratories Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 401 | 485 | 595 | 607 | 769 | 853 | 1,188 | 1,547 | 1,418 | 1,690 | 1,812 | 1,806 | 2,286 |
| Expenses + | 352 | 424 | 534 | 542 | 701 | 785 | 1,070 | 1,410 | 1,338 | 1,532 | 1,638 | 1,680 | 2,009 |
| Operating Profit | 48 | 62 | 61 | 65 | 68 | 69 | 119 | 137 | 80 | 159 | 174 | 126 | 276 |
| OPM % | 12% | 13% | 10% | 11% | 9% | 8% | 10% | 9% | 6% | 9% | 10% | 7% | 12% |
| Other Income + | 1 | -3 | 4 | 4 | 4 | 9 | 12 | 10 | 6 | 14 | 18 | 47 | 26 |
| Interest | 9 | 10 | 8 | 4 | 2 | 2 | 2 | -7 | 2 | 4 | 8 | 16 | 18 |
| Depreciation | 39 | 35 | 34 | 34 | 40 | 37 | 30 | 28 | 28 | 33 | 29 | 36 | 35 |
| Profit before tax | 2 | 13 | 24 | 30 | 29 | 39 | 99 | 127 | 56 | 135 | 155 | 120 | 250 |
| Tax % | 6% | -1% | 0% | 0% | 1% | 14% | 1% | 20% | 31% | 29% | 24% | 20% | |
| Net Profit + | 2 | 13 | 24 | 30 | 29 | 34 | 97 | 102 | 39 | 97 | 118 | 96 | 188 |
| EPS in Rs | 0.05 | 0.28 | 0.53 | 0.66 | 0.64 | 0.75 | 2.16 | 2.13 | 0.76 | 1.88 | 2.15 | 1.73 | 3.44 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 9% | 12% |
Financials of Morepen Laboratories Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 90 | 90 | 90 | 90 | 90 | 90 | 90 | 96 | 102 | 102 | 110 | 110 | 110 |
| Reserves | 78 | 91 | 106 | 136 | 163 | 194 | 335 | 483 | 651 | 745 | 1,047 | 1,137 | 1,272 |
| Borrowings + | 201 | 187 | 169 | 134 | 132 | 133 | 17 | 19 | 25 | 29 | 105 | 208 | 323 |
| Other Liabilities + | 121 | 156 | 173 | 226 | 230 | 246 | 416 | 473 | 332 | 417 | 517 | 482 | 602 |
| Total Liabilities | 489 | 524 | 538 | 586 | 615 | 663 | 858 | 1,070 | 1,110 | 1,293 | 1,778 | 1,936 | 2,306 |
| Fixed Assets + | 322 | 297 | 272 | 264 | 236 | 216 | 225 | 252 | 267 | 307 | 489 | 513 | 583 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 14 | 17 | 24 | 28 | 22 | 23 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 85 | 124 | 118 |
| Other Assets + | 167 | 227 | 266 | 321 | 379 | 446 | 631 | 804 | 827 | 960 | 1,176 | 1,277 | 1,582 |
| Total Assets | 489 | 524 | 538 | 586 | 615 | 663 | 858 | 1,070 | 1,110 | 1,293 | 1,778 | 1,936 | 2,306 |
Financials of Morepen Laboratories Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 51 | 50 | 41 | 63 | 17 | 11 | 51 | -60 | -91 | 73 | 32 | 33 |
| Cash from Investing Activity + | -32 | -27 | -14 | -27 | -13 | -12 | -70 | -32 | -47 | -83 | -322 | -126 |
| Cash from Financing Activity + | -19 | -27 | -24 | -38 | -0 | 5 | 47 | 66 | 144 | 5 | 300 | 97 |
| Net Cash Flow | -0 | -4 | 3 | -1 | 4 | 4 | 28 | -26 | 6 | -5 | 10 | 4 |
| Free Cash Flow | 46 | 41 | 31 | 37 | 6 | -6 | 10 | -127 | -137 | -8 | -182 | -127 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 105% | 81% | 66% | 98% | 26% | 25% | 44% | -26% | -94% | 70% | 40% | 46% |
Financials of Morepen Laboratories Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 51 | 66 | 57 | 73 | 64 | 59 | 56 | 59 | 68 | 70 | 65 | 67 |
| Inventory Days | 55 | 51 | 65 | 76 | 69 | 91 | 82 | 96 | 87 | 85 | 94 | 88 |
| Days Payable | 126 | 140 | 125 | 173 | 124 | 113 | 98 | 90 | 87 | 101 | 114 | 103 |
| Cash Conversion Cycle | -20 | -23 | -3 | -24 | 9 | 37 | 40 | 65 | 69 | 54 | 45 | 53 |
| Working Capital Days | -20 | -10 | -86 | -62 | -34 | -8 | 17 | 55 | 98 | 94 | 107 | 118 |
| ROCE % | 3% | 8% | 9% | 9% | 8% | 10% | 23% | 23% | 8% | 17% | 15% | 8% |
Guidance history
How Morepen Laboratories Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY25 call → | 10–20% | Flat | Planned | — | Flat |
| Q3 FY25 call → | 10–20% | Flat | Planned | Planned | — |
| Q2 FY25 call → | 20–40% | Up 2%+ | Planned | Planned | — |
| Q1 FY25 call → | 10–20% | Up 2%+ | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
98 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +144.9% | 96% |
| Last 6 months | +188.5% | 99% |
| Last 3 months | +111.5% | 100% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Morepen Laboratories Ltd: 0.4 × 96 + 0.4 × 99 + 0.2 × 100 = 98.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Morepen Laboratories Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q4 FY22 earnings call →
- Q3 FY22 earnings call →
- Q2 FY22 earnings call →
Others in Pharmaceuticals & Biotechnology this season
- Lincoln Pharmaceuticals Ltd (Q2 FY27)
2,798.12 Lakhs increase (approximately 17.1% growth) . Key results statement takeaways from Lincoln Pharmaceuticals Ltd's Q2 FY27 results statement — and how it
- Alivus Life Sciences Ltd (Q2 FY27)
Q2 FY27 Revenue from Operations: ₹6,820 million, up 16.0% year-on-year (YoY). Key investor presentation takeaways from Alivus Life Sciences Ltd's Q2 FY27 invest
- Strides Pharma Science Ltd (Q2 FY27)
Q2FY27 Revenue: ₹14,297 million, up 17.1% YoY (Page 4, 15) . Key investor presentation takeaways from Strides Pharma Science Ltd's Q2 FY27 investor presentation
- Laurus Labs Ltd (Q2 FY27)
2Q FY27 Revenue:** ₹2,206 crore, up 33% year-on-year (Y-o-Y) and 9% quarter-on-quarter (Q-o-Q). Key investor presentation takeaways from Laurus Labs Ltd's Q2 FY