NGL Fine Chem Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,615 Cr
- P/E
- 32.02
- ROE
- 15.59%
- PEG
- 0.98
- Price to sales
- 3.08
- Debt to equity
- 0.38
- 52W high / low
- ₹3,458 / ₹1,279
- Sales growth (5Y)
- 13.62%
- EBITDA margin
- 13.56%
- Net profit margin
- 9.56%
- Promoter holding
- 72.49%
- Sales (last year)
- ₹525 Cr
Incorporated in 1981, NGL Fine-Chem Ltd is a manufacturer and exporter of pharmaceuticals and intermediates for usage in veterinary and human health.[1]
Guidance scorecard · Q1 FY27 call
What NGL Fine Chem Ltd's management guided
and where it ranks in Pharmaceuticals & Biotechnology
Pharmaceuticals & Biotechnology
RevenueQ4 FY26 call
20–40%- Revenue growth has shown strong momentum with a 36% increase in FY26, driven by broad-based volume growth across products and geographies.
- Volume growth is stable with demand recovery confirmed over the last three quarters, providing confidence for maintaining or improving current run rates.
- New plant expansions are expected to add up to Rs. 350 crores in turnover over the next 3-4 years.
- Regulated market sales (Europe starting FY27, US from FY28) will contribute meaningfully from FY28 onwards, though peak contributions are still to be crystallized.
- The company aims to stabilize at a quarterly run rate of approx. Rs. 150 crore, with potential to exceed it over time.
- Continued addition of 9-10 new products annually supports diversified growth.
2 more points from NGL Fine Chem Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what NGL Fine Chem Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Total planned CAPEX for the ongoing expansion program is ₹210 crores, with ₹182.75 crores invested up to Q4 FY26.
- Phase II Greenfield expansion at Tarapur faced delays due to gas and labor shortages; commissioning rescheduled from Q1 FY27 to early Q2 FY27.
- Commercial production for Phase II is expected to start from H2 FY27, as previously guided.
- Post project completion, annual CAPEX is expected to be around ₹15-20 crores.
- No additional large-scale CAPEX currently planned beyond this expansion.
- Management is financing the cost increase internally, without additional borrowing.
2 more points from NGL Fine Chem Ltd's call on capex
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FundraisingQ4 FY26 call
None plannedSee what NGL Fine Chem Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- Expect revenue run rate to stabilize around Rs. 150 crore quarterly, with new capacity utilization increasing over next 1-2 quarters.
- Growth and demand stable for past three quarters, indicating strong order flow continuity.
- Expansion plans anticipate generating Rs. 350 crore turnover from the new plant over the next 3-4 years.
- Regulated market sales expected to start contributing significantly from FY’28 onwards.
2 more points from NGL Fine Chem Ltd's call on the order book
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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
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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 |
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Pro shows every company guiding 40%+ revenue growth →Full Pharmaceuticals & Biotechnology rankingNGL Fine Chem Ltd announcements
All announcements →- Capex / expansionNotableNGL Fine-Chem Ltd announces commencement of commercial production of Phase II at Tarapur
Financials of NGL Fine Chem Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of NGL Fine Chem Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 74 | 69 | 79 | 85 | 96 | 88 | 91 | 87 | 93 | 101 | 117 | 126 | 145 |
| Expenses + | 62 | 62 | 66 | 74 | 83 | 82 | 81 | 83 | 89 | 93 | 103 | 106 | 127 |
| Operating Profit | 12 | 8 | 13 | 11 | 13 | 6 | 11 | 4 | 4 | 8 | 14 | 20 | 18 |
| OPM % | 16% | 11% | 17% | 13% | 13% | 7% | 12% | 4% | 4% | 8% | 12% | 16% | 12% |
| Other Income + | 1 | 4 | 4 | 4 | 4 | 6 | 5 | 0 | -1 | 7 | 2 | 5 | 3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 4 |
| Profit before tax | 11 | 9 | 15 | 13 | 14 | 10 | 13 | 1 | -0 | 10 | 11 | 19 | 15 |
| Tax % | 23% | 15% | 24% | 30% | 24% | 22% | 25% | 4% | 44% | 21% | 26% | 24% | 24% |
| Net Profit + | 9 | 8 | 11 | 9 | 11 | 8 | 10 | 1 | -1 | 8 | 8 | 15 | 11 |
| EPS in Rs | 13.81 | 12.64 | 17.76 | 14.41 | 17.56 | 12.67 | 16.25 | 1.26 | -0.84 | 12.37 | 12.79 | 23.86 | 18.37 |
Financials of NGL Fine Chem 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 88 | 96 | 100 | 114 | 153 | 152 | 258 | 319 | 275 | 329 | 359 | 489 |
| Expenses + | 73 | 74 | 74 | 92 | 121 | 129 | 181 | 253 | 246 | 284 | 333 | 428 |
| Operating Profit | 15 | 22 | 25 | 22 | 32 | 23 | 77 | 66 | 29 | 45 | 27 | 60 |
| OPM % | 17% | 23% | 26% | 19% | 21% | 15% | 30% | 21% | 10% | 14% | 7% | 12% |
| Other Income + | 2 | 0 | 1 | 3 | 4 | 1 | 9 | 13 | 8 | 16 | 10 | 15 |
| Interest | 2 | 2 | 1 | 2 | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 4 |
| Depreciation | 3 | 3 | 3 | 5 | 6 | 7 | 7 | 8 | 8 | 8 | 9 | 16 |
| Profit before tax | 13 | 18 | 23 | 18 | 28 | 14 | 76 | 69 | 27 | 51 | 24 | 55 |
| Tax % | 35% | 36% | 35% | 29% | 27% | 26% | 27% | 24% | 24% | 24% | 24% | 24% |
| Net Profit + | 8 | 11 | 15 | 13 | 20 | 11 | 55 | 52 | 20 | 39 | 18 | 42 |
| EPS in Rs | 13.48 | 18.45 | 24.10 | 20.38 | 32.58 | 17.16 | 89.79 | 84.57 | 32.57 | 62.35 | 29.35 | 67.38 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 5% | 10% | 2% | 2% | 5% | 3% | 6% | 0% |
Financials of NGL Fine Chem 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 30 | 41 | 56 | 69 | 89 | 98 | 152 | 203 | 222 | 260 | 277 | 317 |
| Borrowings + | 13 | 14 | 23 | 27 | 27 | 28 | 16 | 30 | 32 | 34 | 76 | 108 |
| Other Liabilities + | 21 | 19 | 20 | 31 | 23 | 26 | 34 | 41 | 30 | 56 | 70 | 102 |
| Total Liabilities | 67 | 78 | 102 | 129 | 142 | 156 | 206 | 278 | 288 | 353 | 426 | 530 |
| Fixed Assets + | 17 | 24 | 25 | 56 | 61 | 61 | 58 | 59 | 59 | 60 | 120 | 144 |
| CWIP | 1 | 2 | 16 | 3 | 0 | 0 | 1 | 6 | 26 | 46 | 50 | 95 |
| Investments | 2 | 3 | 6 | 6 | 9 | 14 | 33 | 32 | 43 | 57 | 63 | 43 |
| Other Assets + | 46 | 49 | 55 | 63 | 73 | 80 | 115 | 180 | 159 | 190 | 193 | 248 |
| Total Assets | 67 | 78 | 102 | 129 | 142 | 156 | 206 | 278 | 288 | 353 | 426 | 530 |
Financials of NGL Fine Chem 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 + | 8 | 8 | 10 | 22 | 9 | 20 | 27 | 13 | 32 | 11 | 17 | 35 |
| Cash from Investing Activity + | -3 | -10 | -10 | -21 | -10 | -19 | -24 | -13 | -24 | -17 | -16 | -65 |
| Cash from Financing Activity + | -4 | 2 | 0 | 0 | 0 | -1 | -1 | -1 | -1 | -1 | -1 | 30 |
| Net Cash Flow | 1 | 0 | -0 | 1 | -1 | -0 | 2 | -1 | 7 | -7 | 0 | 0 |
| Free Cash Flow | 5 | -2 | -8 | -1 | -6 | 12 | 22 | -2 | 3 | -17 | -56 | -51 |
| CFO/OP | 80% | 68% | 70% | 128% | 50% | 101% | 61% | 45% | 134% | 52% | 86% | 79% |
Financials of NGL Fine Chem 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 | 107 | 123 | 110 | 89 | 79 | 63 | 53 | 74 | 86 | 92 | 81 | 94 |
| Inventory Days | 106 | 90 | 114 | 134 | 106 | 154 | 132 | 133 | 69 | 99 | 95 | 102 |
| Days Payable | 150 | 122 | 139 | 187 | 92 | 114 | 94 | 84 | 59 | 110 | 105 | 90 |
| Cash Conversion Cycle | 63 | 91 | 85 | 35 | 93 | 103 | 91 | 124 | 97 | 82 | 71 | 106 |
| Working Capital Days | 38 | 49 | 45 | 18 | 70 | 63 | 71 | 89 | 67 | 71 | 51 | 88 |
| ROCE % | 29% | 37% | 34% | 22% | 28% | 15% | 52% | 35% | 12% | 19% | 8% | 15% |
Guidance history
How NGL Fine Chem Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Flat | Planned | None planned | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | Rising |
| Q4 FY25 call → | 10–20% | Flat | Planned | None planned | — |
| Q2 FY25 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
34 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +71.7% | 90% |
| Last 6 months | +18.0% | 73% |
| Last 3 months | −20.3% | 15% |
The price is 25.1% below its all-time high of ₹3,488.8 (6 Aug 2021). Stocks more than 20% below their peak have their score halved, so 68 became 34.
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 NGL Fine Chem Ltd: 0.4 × 90 + 0.4 × 73 + 0.2 × 15 = 68, halved to 34 because the price is more than 20% below its all-time high.
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 NGL Fine Chem Ltd's management said in earlier quarters
- Q3 FY24 earnings call analysis →
- Q1 FY25 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q2 FY25 earnings call →
- Q4 FY24 earnings call →
- Q2 FY24 earnings call →
- Q4 FY23 earnings call →
- Q2 FY23 earnings call →
- Q1 FY23 earnings call →
- Q4 FY22 earnings call →
- Q3 FY22 earnings call →
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