Novartis India Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,241 Cr
- P/E
- 43.38
- ROE
- 11.63%
- PEG
- -12.99
- Price to sales
- 11.45
- Debt to equity
- 0.00
- 52W high / low
- ₹2,428 / ₹513
- Sales growth (5Y)
- -1.46%
- EBITDA margin
- 27.46%
- Net profit margin
- 26.30%
- Promoter holding
- 70.68%
- Sales (last year)
- ₹371 Cr
Novartis India Ltd is primarily engaged in the Business of Wholesale of pharmaceuticals and medical goods. [1] It imports various medicines to India from different sources across the globe.[2]
Guidance scorecard · Q1 FY27 call
What Novartis India's management guided
and where it ranks in Pharmaceuticals & Biotechnology
Pharmaceuticals & Biotechnology
RevenueQ1 FY27 call
20–40%- The company aims to double its revenues over the next 4 to 5 years from the current base.
- Growth will be driven by organic expansion as well as potential M&A opportunities.
- Focused growth in six core therapy areas: cardiology, pain management, women's health, CNS, transplant, and ophthalmology, which contribute 40-50% of incremental market value annually.
- Expansion of sales force from approximately 900 MRs, with hiring completed by end of Q3 and full productivity expected from Q4 onward.
- Utilizing lifecycle management strategies and new product introductions within focus therapy areas to drive growth.
- Expansion of distribution network from 4 to 25 C&Fs to cover tier 2 and tier 3 towns for better market penetration.
2 more points from Novartis India's call on revenue
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MarginsQ1 FY27 call
FlatSee what Novartis India said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Capital deployment focus will be on marketing, promotion, and acquiring brands rather than manufacturing.
- A disciplined capital deployment approach is emphasized to maximize returns.
- The company has recently acquired the Minipress XL trademark from Pfizer and an ophthalmology portfolio via in-licensing from NHPL.
- M&A will be an integral part of growth strategy, with careful financial prudence and strict filters applied before pursuing any acquisition.
- Incremental costs of INR 40-50 crores per quarter are expected due to team-building, marketing, and commercial reset.
2 more points from Novartis India's call on capex
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FundraisingQ1 FY27 call
See what Novartis India said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Novartis India said on the order book →
Full Q1 FY27 analysisRanges 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%+ | ₹480 Cr | 19.1 | |
| 2 | 40%+ | Up 0–2% | ₹212 Cr | 16.1 | |
| 3 | 40%+ | Flat | ₹17,925 Cr | — | |
| 4 | 40%+ | Flat | ₹5,223 Cr | 39.1 | |
| 5 | 40%+ | Flat | ₹40 Cr | — | |
| 6 | 20–40% | Up 2%+ | ₹51,093 Cr | 44.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Pharmaceuticals & Biotechnology rankingNovartis India announcements
All announcements →- Fundraise / allotmentNotableEvonile Pharma receives BSE in-principle approval for ₹900 crore rights issue
- Fundraise / allotmentNotableEvonile Pharma receives BSE approval for ₹90 crore Rights Issue, board meeting set
- Fundraise / allotmentNotableEvonile Pharma Limited approves ₹90 crore rights issue to raise funds
- Fundraise / allotmentNotableEvonile Pharma Ltd approves rights issue to raise up to ₹900 crore
- Acquisition / mergerNotableNovartis India Limited acquires Minipress trademarks from Pfizer for ₹1250 crore
Financials of Novartis India
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Novartis India
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 + | 76 | 91 | 79 | 85 | 81 | 92 | 87 | 93 | 84 | 88 | 90 | 86 | 91 |
| Expenses + | 67 | 73 | 62 | 65 | 70 | 68 | 69 | 67 | 60 | 60 | 66 | 64 | 70 |
| Operating Profit | 9 | 17 | 17 | 20 | 11 | 24 | 18 | 26 | 24 | 27 | 24 | 22 | 21 |
| OPM % | 12% | 19% | 21% | 23% | 14% | 26% | 21% | 28% | 29% | 31% | 26% | 26% | 23% |
| Other Income + | 16 | 12 | 17 | 22 | 10 | 10 | 10 | 11 | 11 | 11 | 9 | 9 | 10 |
| Interest | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 2 | 2 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Profit before tax | 23 | 28 | 32 | 41 | 21 | 34 | 28 | 35 | 34 | 37 | 33 | 30 | 30 |
| Tax % | -7% | 27% | 27% | 36% | 31% | 24% | 26% | 28% | 14% | 26% | 26% | 46% | 16% |
| Net Profit + | 25 | 20 | 24 | 27 | 15 | 26 | 20 | 25 | 29 | 28 | 24 | 16 | 25 |
| EPS in Rs | 10.13 | 8.21 | 9.59 | 10.76 | 5.95 | 10.42 | 8.27 | 10.31 | 11.87 | 11.19 | 9.81 | 6.52 | 10.23 |
Financials of Novartis India
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 + | 870 | 690 | 656 | 564 | 491 | 438 | 381 | 400 | 379 | 335 | 356 | 354 |
| Expenses + | 874 | 656 | 631 | 570 | 478 | 426 | 355 | 373 | 314 | 270 | 265 | 260 |
| Operating Profit | -4 | 34 | 25 | -6 | 12 | 12 | 27 | 27 | 65 | 65 | 91 | 94 |
| OPM % | -0% | 5% | 4% | -1% | 2% | 3% | 7% | 7% | 17% | 19% | 26% | 27% |
| Other Income + | 101 | 207 | 71 | 172 | 78 | 36 | 33 | -17 | 58 | 62 | 42 | 39 |
| Interest | 0 | 0 | 1 | 6 | 2 | 6 | 8 | 5 | 2 | 1 | 1 | 1 |
| Depreciation | 4 | 3 | 4 | 3 | 3 | 13 | 12 | 10 | 6 | 3 | 2 | 2 |
| Profit before tax | 93 | 237 | 92 | 158 | 86 | 29 | 40 | -4 | 115 | 123 | 130 | 130 |
| Tax % | 15% | 16% | 38% | 50% | 40% | 65% | 48% | -3% | 10% | 31% | 23% | 28% |
| Net Profit + | 79 | 198 | 57 | 78 | 52 | 10 | 21 | -4 | 103 | 85 | 101 | 93 |
| EPS in Rs | 24.75 | 62.04 | 20.33 | 31.74 | 20.97 | 4.08 | 8.46 | -1.51 | 41.86 | 34.50 | 40.87 | 37.74 |
| Dividend Payout % | 40% | 16% | 49% | 32% | 48% | 245% | 118% | -663% | 113% | 72% | 61% | 0% |
Financials of Novartis India
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 | 16 | 16 | 14 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 986 | 1,178 | 906 | 721 | 747 | 708 | 699 | 679 | 763 | 732 | 773 | 805 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 68 | 62 | 24 | 22 | 7 | 5 | 3 |
| Other Liabilities + | 244 | 239 | 230 | 377 | 223 | 289 | 229 | 242 | 186 | 173 | 158 | 157 |
| Total Liabilities | 1,246 | 1,433 | 1,150 | 1,111 | 982 | 1,078 | 1,002 | 958 | 983 | 925 | 948 | 978 |
| Fixed Assets + | 8 | 6 | 6 | 5 | 15 | 76 | 64 | 24 | 19 | 7 | 5 | 3 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 1,238 | 1,426 | 1,144 | 1,106 | 967 | 1,001 | 938 | 934 | 964 | 918 | 943 | 975 |
| Total Assets | 1,246 | 1,433 | 1,150 | 1,111 | 982 | 1,078 | 1,002 | 958 | 983 | 925 | 948 | 978 |
Financials of Novartis India
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 + | -60 | 57 | -41 | 161 | -194 | -23 | -69 | 39 | 45 | 113 | 75 | 47 |
| Cash from Investing Activity + | 719 | -630 | 424 | 69 | 274 | 56 | 95 | 87 | -153 | 33 | -3 | 18 |
| Cash from Financing Activity + | -38 | -39 | -332 | -268 | -30 | -41 | -37 | -36 | -30 | -121 | -64 | -64 |
| Net Cash Flow | 622 | -612 | 51 | -38 | 50 | -9 | -11 | 90 | -139 | 26 | 7 | 0 |
| Free Cash Flow | -64 | 54 | -44 | 160 | -208 | -24 | -69 | 38 | 45 | 113 | 75 | 46 |
| CFO/OP | 601% | 398% | 13% | -3,503% | -1,210% | 124% | -127% | 210% | 65% | 115% | 99% | 87% |
Financials of Novartis India
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 | 35 | 27 | 23 | 28 | 34 | 31 | 37 | 41 | 35 | 45 | 41 | 38 |
| Inventory Days | 103 | 92 | 104 | 84 | 111 | 117 | 119 | 117 | 99 | 82 | 74 | 98 |
| Days Payable | 98 | 89 | 87 | 158 | 168 | 145 | 137 | 148 | 108 | 112 | 93 | 101 |
| Cash Conversion Cycle | 40 | 30 | 40 | -45 | -23 | 3 | 19 | 10 | 26 | 15 | 22 | 36 |
| Working Capital Days | 6 | -35 | -14 | -99 | 7 | -1 | 62 | -23 | -37 | -59 | -45 | -46 |
| ROCE % | 9% | 22% | 9% | 17% | 12% | 5% | 6% | 6% | 15% | 16% | 17% | 16% |
Momentum score · price trend
45 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +97.9% | 94% |
| Last 6 months | +67.4% | 93% |
| Last 3 months | +5.0% | 77% |
The price is 29.3% below its all-time high of ₹2,428.2 (10 Sept 2026). Stocks more than 20% below their peak have their score halved, so 90 became 45.
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 Novartis India: 0.4 × 94 + 0.4 × 93 + 0.2 × 77 = 90, halved to 45 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 2 Nov 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 Novartis India's management said in earlier quarters
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