Shree Ganesh Remedies Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹822 Cr
- P/E
- 53.19
- ROE
- 10.83%
- PEG
- 16.47
- Price to sales
- 8.30
- Debt to equity
- 0.19
- 52W high / low
- ₹736 / ₹400
- Sales growth (5Y)
- 17.38%
- EBITDA margin
- 31.40%
- Net profit margin
- 15.27%
- Promoter holding
- 72.83%
- Sales (last year)
- ₹99 Cr
Shree Ganesh Remedies is an Ankleshwar-based manufacturer of pharmaceutical/API intermediates and specialty and fine chemicals. It also provides custom synthesis and contract manufacturing for pharmaceutical, agrochemical, polymer, and electronics customers across more than 20 countries.[1] [2]
Guidance scorecard · Q1 FY27 call
What Shree Ganesh Remedies Ltd's management guided
and where it ranks in Pharmaceuticals & Biotechnology
Pharmaceuticals & Biotechnology
RevenueQ4 FY26 call
10–20%- FY27 is expected to be a year where groundwork from FY26 translates into more visible business outcomes.
- Block-7 expansion to begin commercial production in Q2 FY27, supporting niche and application-led molecules including CRAMS.
- CRAMS projects are transitioning from pilot trials to commercial trials, with momentum expected to gradually improve through FY27.
- CRAMS business anticipated to gain traction as the year progresses.
- No significant revenue contribution from CRAMS expected in FY26; pilot approvals ongoing, commercial scale-up anticipated in coming years.
- Base business is stable, operating in generic markets with limited growth, expected to plateau.
- New projects selected from customers include a mix of CRAMS, specialty chemicals, and pharma; not focused solely on CRAMS.
2 more points from Shree Ganesh Remedies Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Shree Ganesh Remedies Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Current focus is on expansion at the Ankleshwar plant with the recently commissioned Unit 7A, expected to commission fully in the coming year.
- Dahej plant's common utilities construction has started and is currently under construction.
- Future expansion plans include the Dahej plant, which will commence after full utilization of the Ankleshwar unit.
- Timeline for Dahej plant commercialization is approximately 16 to 20 months from start, expected to start after 1 year.
- Block-7 expansion program is on track and expected to begin commercial production in Q2 FY27, supporting niche and application-led molecules including CRAMS.
- Pilot facility commissioned earlier this year is fully operational, accelerating new product development.
2 more points from Shree Ganesh Remedies Ltd's call on capex
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FundraisingQ4 FY26 call
See what Shree Ganesh Remedies Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- The company has ongoing CRAMS projects with customers in Europe and Japan, with pilot trials successfully completed in Q4 FY26.
- These projects are transitioning from pilot to commercial trials, pending customer and regulatory approvals.
- The management refrains from giving project-specific revenue guidance but indicates a significant potential revenue contribution once approvals and commercialization progress.
- The company expects commercial production from Block-7 expansion from Q2 FY27, supporting niche and application-led molecules including CRAMS projects.
2 more points from Shree Ganesh Remedies 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 rankingFinancials of Shree Ganesh Remedies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Shree Ganesh Remedies 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 + | 29.61 | 26.72 | 33.42 | 27.97 | 37.33 | 24.78 | 32.33 | 27.05 | 24.43 | 24.67 | 30.32 | 21.11 | 33.20 |
| Expenses + | 20.97 | 20.16 | 24.19 | 19.76 | 20.39 | 16.65 | 21.02 | 17.14 | 14.55 | 17.37 | 20.70 | 14.38 | 21.82 |
| Operating Profit | 8.64 | 6.56 | 9.23 | 8.21 | 16.94 | 8.13 | 11.31 | 9.91 | 9.88 | 7.30 | 9.62 | 6.73 | 11.38 |
| OPM % | 29.18% | 24.55% | 27.62% | 29.35% | 45.38% | 32.81% | 34.98% | 36.64% | 40.44% | 29.59% | 31.73% | 31.88% | 34.28% |
| Other Income + | 0.34 | 0.73 | 0.80 | 1.11 | 1.32 | 0.54 | 0.19 | 0.71 | 2.29 | 0.66 | 0.69 | 0.66 | 1.02 |
| Interest | 0.08 | 0.01 | 0.01 | 0.02 | 0.15 | 0.32 | 0.43 | 0.38 | 0.96 | 0.94 | 1.01 | 0.74 | 0.88 |
| Depreciation | 1.03 | 1.02 | 1.41 | 1.88 | 1.86 | 2.02 | 2.42 | 2.70 | 2.42 | 2.42 | 2.59 | 2.67 | 2.80 |
| Profit before tax | 7.87 | 6.26 | 8.61 | 7.42 | 16.25 | 6.33 | 8.65 | 7.54 | 8.79 | 4.60 | 6.71 | 3.98 | 8.72 |
| Tax % | 14.99% | 27.64% | 23.81% | 35.31% | 22.46% | 26.70% | 25.78% | 27.85% | 24.80% | 25.00% | 26.23% | 22.36% | 28.10% |
| Net Profit + | 6.70 | 4.54 | 6.55 | 4.80 | 12.59 | 4.65 | 6.42 | 5.43 | 6.60 | 3.45 | 4.96 | 3.10 | 6.27 |
| EPS in Rs | 5.23 | 3.55 | 5.12 | 3.75 | 9.84 | 3.62 | 5.00 | 4.23 | 5.14 | 2.69 | 3.86 | 2.41 | 4.88 |
Financials of Shree Ganesh Remedies 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 + | 16 | 16 | 20 | 27 | 35 | 58 | 49 | 71 | 91 | 126 | 109 | 109 |
| Expenses + | 14 | 14 | 16 | 22 | 26 | 47 | 35 | 53 | 68 | 84 | 69 | 74 |
| Operating Profit | 2 | 2 | 4 | 5 | 9 | 11 | 14 | 18 | 23 | 42 | 39 | 35 |
| OPM % | 13% | 12% | 21% | 19% | 25% | 19% | 28% | 25% | 26% | 33% | 36% | 32% |
| Other Income + | 0 | 0 | 0 | 2 | 1 | 4 | 2 | 4 | 1 | 3 | 4 | 3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 4 | 6 | 10 | 10 |
| Profit before tax | 2 | 2 | 4 | 6 | 9 | 13 | 13 | 18 | 20 | 38 | 31 | 24 |
| Tax % | 33% | 34% | 33% | 28% | 28% | 24% | 25% | 26% | 25% | 26% | 26% | 26% |
| Net Profit + | 1 | 1 | 3 | 5 | 6 | 10 | 10 | 13 | 15 | 28 | 23 | 18 |
| EPS in Rs | 7.94 | 6.75 | 16.50 | 3.66 | 4.88 | 7.52 | 7.62 | 10.47 | 11.86 | 21.97 | 18.00 | 13.84 |
| Dividend Payout % | 0% | 0% | 0% | 19% | 18% | 14% | 18% | 4% | 2% | 2% | 0% | 0% |
Financials of Shree Ganesh Remedies 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 | 1 | 1 | 1 | 9 | 9 | 9 | 10 | 12 | 13 | 13 | 13 | 13 |
| Reserves | 12 | 13 | 15 | 20 | 25 | 33 | 40 | 50 | 75 | 109 | 132 | 150 |
| Borrowings + | 0 | 0 | 0 | 2 | 1 | 2 | 0 | 0 | 33 | 36 | 38 | 31 |
| Other Liabilities + | 2 | 2 | 5 | 5 | 7 | 8 | 10 | 15 | 18 | 12 | 8 | 14 |
| Total Liabilities | 15 | 16 | 21 | 36 | 41 | 52 | 61 | 77 | 138 | 171 | 192 | 208 |
| Fixed Assets + | 4 | 4 | 4 | 6 | 14 | 16 | 19 | 27 | 58 | 81 | 95 | 105 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 15 | 17 | 9 | 12 |
| Investments | 0 | 0 | 0 | 4 | 4 | 7 | 3 | 0 | 0 | 5 | 18 | 13 |
| Other Assets + | 11 | 11 | 17 | 25 | 23 | 29 | 37 | 47 | 64 | 69 | 70 | 78 |
| Total Assets | 15 | 16 | 21 | 36 | 41 | 52 | 61 | 77 | 138 | 171 | 192 | 208 |
Financials of Shree Ganesh Remedies 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 + | -1 | -2 | 2 | -1 | -5 | 4 | 3 | 13 | 17 | 30 | 31 | 24 |
| Cash from Investing Activity + | 1 | 1 | 0 | -3 | -0 | -3 | -1 | -12 | -51 | -33 | -35 | -10 |
| Cash from Financing Activity + | -0 | -0 | -0 | 8 | -0 | -0 | -1 | -1 | 39 | 10 | -1 | -12 |
| Net Cash Flow | -1 | -0 | 2 | 4 | -5 | 1 | 2 | 0 | 5 | 7 | -6 | 2 |
| Free Cash Flow | -1 | -2 | 2 | -0 | -5 | 4 | 3 | -2 | -32 | -1 | 7 | 7 |
| CFO/OP | -58% | -79% | 44% | -18% | -60% | 35% | 24% | 75% | 73% | 92% | 104% | 82% |
Financials of Shree Ganesh Remedies 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 | 93 | 133 | 136 | 78 | 101 | 104 | 99 | 94 | 112 | 59 | 75 | 109 |
| Inventory Days | 132 | 130 | 103 | 102 | 125 | 56 | 206 | 132 | 138 | 156 | 223 | 209 |
| Days Payable | 43 | 32 | 90 | 43 | 75 | 39 | 101 | 92 | 118 | 51 | 61 | 82 |
| Cash Conversion Cycle | 183 | 232 | 149 | 137 | 151 | 120 | 205 | 134 | 133 | 164 | 238 | 236 |
| Working Capital Days | 160 | 202 | 172 | 128 | 145 | 102 | 158 | 133 | 122 | 89 | 111 | 169 |
| ROCE % | 16% | 12% | 26% | 27% | 27% | 33% | 28% | 33% | 22% | 28% | 19% | 15% |
Guidance history
How Shree Ganesh Remedies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | Flat |
| Q4 FY25 call → | 10–20% | Down 0–2% | 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
37 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 | +29.8% | 78% |
| Last 6 months | +24.3% | 77% |
| Last 3 months | −2.2% | 60% |
The price is 27.7% below its all-time high of ₹884.3 (26 Jul 2024). Stocks more than 20% below their peak have their score halved, so 74 became 37.
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 Shree Ganesh Remedies Ltd: 0.4 × 78 + 0.4 × 77 + 0.2 × 60 = 74, halved to 37 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 Shree Ganesh Remedies Ltd's management said in earlier quarters
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