Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Natco Pharma Ltd
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 492 | 898 | 1,140 | 1,031 | 759 | 1,068 | 1,363 | 1,371 | 475 | 1,221 | 1,329 | 1,363 | 647 |
| Expenses + | 387 | 559 | 612 | 573 | 490 | 571 | 558 | 567 | 436 | 673 | 758 | 784 | 489 |
| Operating Profit | 106 | 339 | 528 | 458 | 268 | 497 | 805 | 804 | 39 | 548 | 571 | 579 | 159 |
| OPM % | 22% | 38% | 46% | 44% | 35% | 47% | 59% | 59% | 8% | 45% | 43% | 42% | 25% |
| Other Income + | 21 | 29 | 20 | 29 | 37 | 42 | 48 | 64 | 176 | 66 | 62 | 100 | 58 |
| Interest | 4 | 3 | 4 | 4 | 5 | 6 | 5 | 4 | 4 | 10 | 3 | 13 | 10 |
| Depreciation | 42 | 41 | 44 | 44 | 44 | 56 | 44 | 46 | 47 | 98 | 58 | 52 | 46 |
| Profit before tax | 81 | 324 | 500 | 440 | 256 | 478 | 804 | 818 | 164 | 506 | 572 | 614 | 161 |
| Tax % | 23% | 15% | 16% | 16% | 17% | 19% | 17% | 17% | 19% | 20% | 16% | 16% | 13% |
| Net Profit + | 62 | 276 | 420 | 369 | 213 | 386 | 668 | 676 | 132 | 406 | 480 | 518 | 151 |
| EPS in Rs | 3.41 | 15.11 | 23.47 | 20.60 | 11.88 | 21.57 | 37.32 | 37.81 | 7.43 | 22.70 | 26.84 | 28.94 | 8.46 |
Financials of Natco Pharma Ltd
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 739 | 825 | 1,042 | 2,020 | 2,185 | 2,094 | 1,915 | 2,052 | 1,945 | 2,707 | 3,999 | 4,430 | 4,560 |
| Expenses + | 560 | 615 | 777 | 1,337 | 1,256 | 1,300 | 1,332 | 1,446 | 1,681 | 1,772 | 2,245 | 2,234 | 2,703 |
| Operating Profit | 179 | 210 | 266 | 683 | 928 | 795 | 583 | 606 | 264 | 936 | 1,754 | 2,196 | 1,857 |
| OPM % | 24% | 25% | 25% | 34% | 42% | 38% | 30% | 30% | 14% | 35% | 44% | 50% | 41% |
| Other Income + | 17 | 0 | 12 | 14 | 40 | 130 | 107 | 104 | 99 | 105 | 126 | 354 | 286 |
| Interest | 37 | 32 | 23 | 18 | 15 | 19 | 22 | 13 | 18 | 14 | 19 | 24 | 36 |
| Depreciation | 30 | 47 | 51 | 54 | 66 | 81 | 100 | 117 | 143 | 164 | 187 | 235 | 254 |
| Profit before tax | 129 | 132 | 204 | 624 | 887 | 825 | 569 | 580 | 202 | 862 | 1,674 | 2,291 | 1,853 |
| Tax % | 24% | 1% | 24% | 22% | 22% | 22% | 19% | 24% | 16% | 17% | 17% | 18% | |
| Net Profit + | 98 | 130 | 156 | 485 | 695 | 642 | 458 | 442 | 170 | 715 | 1,388 | 1,883 | 1,556 |
| EPS in Rs | 6.21 | 8.10 | 9.02 | 27.88 | 37.74 | 35.24 | 25.31 | 24.18 | 9.31 | 39.18 | 77.51 | 105.26 | 86.94 |
| Dividend Payout % | 16% | 12% | 14% | 24% | 22% | 18% | 27% | 22% | 48% | 14% | 12% | 6% |
Financials of Natco Pharma Ltd
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 33 | 35 | 35 | 37 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| Reserves | 693 | 813 | 1,261 | 1,614 | 3,035 | 3,452 | 3,737 | 4,085 | 4,227 | 4,837 | 5,817 | 7,571 | 8,614 |
| Borrowings + | 240 | 312 | 113 | 222 | 173 | 386 | 316 | 268 | 416 | 167 | 371 | 279 | 261 |
| Other Liabilities + | 229 | 226 | 413 | 446 | 470 | 428 | 498 | 403 | 430 | 617 | 682 | 744 | 1,520 |
| Total Liabilities | 1,196 | 1,384 | 1,822 | 2,318 | 3,715 | 4,303 | 4,588 | 4,792 | 5,109 | 5,657 | 6,906 | 8,631 | 10,430 |
| Fixed Assets + | 645 | 710 | 710 | 833 | 1,019 | 1,227 | 1,584 | 2,023 | 2,312 | 2,427 | 2,491 | 2,698 | 2,697 |
| CWIP | 124 | 129 | 212 | 336 | 480 | 638 | 518 | 223 | 130 | 64 | 137 | 225 | 255 |
| Investments | 2 | 2 | 22 | 32 | 76 | 169 | 112 | 304 | 308 | 392 | 539 | 474 | 774 |
| Other Assets + | 425 | 543 | 878 | 1,116 | 2,140 | 2,270 | 2,373 | 2,242 | 2,360 | 2,774 | 3,739 | 5,234 | 6,704 |
| Total Assets | 1,196 | 1,384 | 1,822 | 2,318 | 3,715 | 4,303 | 4,588 | 4,792 | 5,109 | 5,657 | 6,906 | 8,631 | 10,430 |
Financials of Natco Pharma Ltd
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 144 | 93 | 112 | 346 | 464 | 669 | 417 | 299 | 46 | 849 | 1,212 | 1,697 |
| Cash from Investing Activity + | -108 | -120 | -176 | -299 | -1,116 | -611 | -175 | -107 | 4 | -465 | -1,026 | -1,436 |
| Cash from Financing Activity + | -35 | 29 | 154 | -48 | 651 | -51 | -251 | -186 | 35 | -363 | -247 | -211 |
| Net Cash Flow | 0 | 2 | 90 | -1 | -2 | 7 | -8 | 6 | 85 | 21 | -62 | 50 |
| Free Cash Flow | 34 | -25 | -44 | 66 | 57 | 225 | 81 | 92 | -142 | 674 | 855 | 1,300 |
| CFO/OP | 100% | 55% | 60% | 69% | 72% | 107% | 90% | 71% | 36% | 110% | 85% | 94% |
Financials of Natco Pharma Ltd
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 59 | 85 | 92 | 86 | 106 | 88 | 105 | 73 | 116 | 115 | 109 | 103 |
| Inventory Days | 283 | 331 | 482 | 213 | 389 | 545 | 534 | 570 | 496 | 432 | 357 | 405 |
| Days Payable | 172 | 189 | 372 | 160 | 239 | 224 | 244 | 104 | 105 | 153 | 120 | 145 |
| Cash Conversion Cycle | 170 | 228 | 202 | 138 | 257 | 410 | 395 | 539 | 507 | 394 | 345 | 362 |
| Working Capital Days | 22 | 25 | 97 | 71 | 215 | 207 | 295 | 246 | 258 | 198 | 151 | 151 |
| ROCE % | 18% | 17% | 18% | 39% | 35% | 23% | 14% | 13% | 4% | 18% | 30% | 33% |