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Aurobindo Pharma · Research view

Aurobindo Pharma Ltd.

NSE: AUROPHARMABSE: 524804ISIN INE406A01037Face value ₹1standalone
₹1,675
+0.51% · 2026-10-01 · 52-wk ₹1,071–₹1,735
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis

What stands out?

The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.

StrengthConcernWatchContext
WatchTalking point

Stock has run ahead of the business

Over 5 years the stock returned 18.5% a year while profit shrank 8.1% a year.

Net profit−8.1%/yrShare price18.5%/yr

Importance 61 / 95 · business vs stock

ContextTalking point

Cheaper than peers — but earns less

P/E of 26.22× is below the pharmaceuticals median (36.26×) — but ROE of 9.9% is also below that peer set (14.4%), so the lower multiple tracks the lower profitability.

Importance 58 / 95 · valuation

WatchTalking point

Volatile earnings

Profit has swung sharply over 7 years (from ₹1,928 to ₹5,334) — one year is a weak guide to the earnings power.

Importance 57 / 95 · growth

StrengthTalking point

Book value compounding

Net worth compounded at 15.4% a year over 7 years (₹13,892 → ₹37,883).

Importance 55 / 95 · financial health

Section 03 · The company

Who is this company?

Classified by the exchange under Healthcare › Healthcare › Pharmaceuticals & Biotechnology › Pharmaceuticals.

Market cap
₹97,284 cr
FY2026 revenue
₹11,172 cr
FY2026 net profit
₹2,415 cr
Net worth
₹22,718 cr
Total debt
₹4,182 cr
EPS (basic)
₹41.58
Listed
NSE · BSE
Reporting
Ind-ASApr–Mar

Peer set used on this page: 12 pharmaceuticals.

Section 04 · Business performance

Is the business growing?

Revenue & net profit — FY19 to FY26₹ crore · consolidated
₹'000 cr05101520024REVENUENET PROFIT12k1,530FY1913k1,873FY2016k3,113FY2111k1,455FY2213k1,230FY2311k1,954FY2411k1,747FY2511k2,415FY26
RevenueNet profit
Watch

Profit has swung sharply over 7 years (from ₹1,928 to ₹5,334) — one year is a weak guide to the earnings power.

Rule EARNINGS_VOLATILE

Revenue growth per year
−1.3%over 7 years
Revenue growth
+2.2%vs last year
Net profit growth
+38.2%vs last year
Change in net profit since FY19
+58%

Revenue has compounded at 8.1% a year over 7 years (₹19,564 → ₹33,653) — steady rather than rapid.

Section 05 · Recent activity

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

Strength

Q1 FY27 net profit was ₹1,032 cr, up 25.2% from ₹824 cr a year earlier.

Rule QTR_PROFIT_GROWTH_YOY

Strength

Q1 FY27 revenue was ₹9,150 cr, up 16.3% from ₹7,868 cr in Q1 FY26 a year earlier.

Rule QTR_REVENUE_GROWTH_YOY

Strength

Q1 FY27 EBIT was ₹1,658 cr, up 27.3% from ₹1,303 cr a year earlier.

Rule QTR_OPERATING_PERFORMANCE_CHANGE_YOY

A. Quarterly results

Latest quarters — Q2 '25 to Q1 '27₹ crore · consolidated
₹'000 cr035810012REVENUENET PROFIT8k817Q2 '258k846Q3 '258k903Q4 '258k824Q1 '268k848Q2 '269k910Q3 '269k921Q4 '269k1,032Q1 '27
RevenueNet profit
QuarterRevenueYoYNet profitYoYNet margin
Q2 FY257,796—817—10.5%
Q3 FY257,979+8.5%846−10.0%10.6%
Q4 FY258,382+10.6%903−0.5%10.8%
Q1 FY267,868+4.0%824−10.2%10.5%
Q2 FY268,286+6.3%848+3.8%10.2%
Q3 FY268,646+8.4%910+7.6%10.5%
Q4 FY268,853+5.6%921+2.0%10.4%
Q1 FY279,150+16.3%1,032+25.2%11.3%

B. TTM snapshot

Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters

Revenue
₹34,935 crTTM
EBITDA
₹7,775 crTTM
EBIT
₹5,915 crTTM
PBT
₹5,422 crTTM
Net profit
₹3,711 crTTM

C. Corporate actions

17 Apr 2026BuybackBuy Back of Shares
8 Aug 2025DividendInterim Dividend - Rs. - 4.0000 — ₹4.00/share
30 Jul 2024BuybackBuy Back of Shares
20 Feb 2024DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
20 Nov 2023DividendInterim Dividend - Rs. - 3.0000 — ₹3.00/share
17 Feb 2023DividendInterim Dividend - Rs. - 3.0000 — ₹3.00/share
6 Jun 2022DividendInterim Dividend - Rs. - 4.5000 — ₹4.50/share
18 Feb 2022DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
17 Nov 2021DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
27 Aug 2021DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
22 Feb 2021DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
23 Nov 2020DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
21 Aug 2020DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
17 Feb 2020DividendInterim Dividend - Rs. - 1.7500 — ₹1.75/share
21 Nov 2019DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
15 Feb 2019DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
20 Nov 2018DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
20 Feb 2018DividendInterim Dividend - Rs. - 1.0000 — ₹1.00/share
21 Nov 2017DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
8 Jun 2017DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
24 Nov 2016DividendInterim Dividend - Rs. - 1.2500 — ₹1.25/share
9 Jun 2016DividendInterim Dividend - Rs. - 0.7000 — ₹0.70/share
18 Feb 2016DividendInterim Dividend - Rs. - 0.7000 — ₹0.70/share
19 Nov 2015DividendInterim Dividend - Rs. - 0.6000 — ₹0.60/share
21 Aug 2015DividendInterim Dividend - Rs. - 0.5000 — ₹0.50/share
Section 06 · Business performance

Is it becoming more profitable?

Margins — FY19 to FY26% of revenue · consolidated
0%5%10%15%20%25%30%35%32.9%20.5%FY19FY20FY21FY22FY23FY24FY25FY26
EBITDA marginNet margin
Concern

ROE of 9.9% is below the pharmaceuticals median of 14.4%.

Rule ROE_BELOW_PEER_MEDIAN

EBITDA margin now
32.9%
8-year range
16.9–32.9%
ROE FY2026
11.2%
ROCE FY2026
13.0%

EBITDA margin has ranged from 16.1% to 23.1% over 7 years and sits at 21.8% now.

Section 07 · Financial health

Is financial health improving?

Net worth — FY19 to FY26₹ crore · consolidated
₹'000 cr010203011kFY1913kFY2016kFY2117kFY2218kFY2320kFY2421kFY2523kFY26
Net worth (shareholders' funds)
Strength

Net worth compounded at 15.4% a year over 7 years (₹13,892 → ₹37,883).

Rule NET_WORTH_COMPOUNDING

Operating cash flow vs net profit₹ crore · FY21–FY26
0k1k3k4k3k3kFY214k1kFY222k1kFY232k2kFY242k2kFY253k2kFY26
Operating cash flowNet profit
Total debt
₹4,182 cr
Operating cash flow ÷ net profit
1.21×FY2026
Free cash flow
₹2,475 cr
Current ratio
1.27×
Section 08 · Relative position

How does it compare with peers?

Ranked against 12 pharmaceuticals (FY2026, consolidated).

Revenue growth

AUROPHARMA · 10th of 12 · set median 14.8%

GLENMARK27.5%LUPIN23.1%LAURUSLABS22.7%TORNTPHARM21.4%MANKIND17.0%ZYDUSLIFE16.8%DIVISLAB12.8%SUNPHARMA11.2%BIOCON10.9%AUROPHARMA6.1%DRREDDY3.2%CIPLA2.2%

EBITDA margin

AUROPHARMA · 12th of 12 · set median 28.7%

DIVISLAB37.4%SUNPHARMA33.7%ZYDUSLIFE33.1%LUPIN33.1%TORNTPHARM31.9%GLENMARK29.6%MANKIND27.8%LAURUSLABS26.9%CIPLA24.0%DRREDDY23.2%BIOCON22.4%AUROPHARMA21.8%

Return on equity

AUROPHARMA · 11th of 12 · set median 14.4%

LUPIN26.9%ZYDUSLIFE18.3%LAURUSLABS17.7%TORNTPHARM17.0%DIVISLAB16.2%SUNPHARMA14.7%GLENMARK14.1%MANKIND12.5%CIPLA11.7%DRREDDY11.5%AUROPHARMA9.9%BIOCON1.1%

P/E ratio

AUROPHARMA · 3rd of 12 · set median 36.3×

LUPIN16.7×ZYDUSLIFE25.1×AUROPHARMA26.2×DRREDDY31.5×CIPLA32.4×SUNPHARMA35.8×GLENMARK36.7×MANKIND50.5×TORNTPHARM74.8×DIVISLAB84.2×LAURUSLABS98.5×BIOCON144.4×
Context

P/E of 26.22× is below the pharmaceuticals median (36.26×) — but ROE of 9.9% is also below that peer set (14.4%), so the lower multiple tracks the lower profitability.

Rule CHEAP_VS_LOW_RETURNS

P / E
26.2×TTM to Jun 26
P / B
2.6×latest book
P / S
2.8×TTM sales
Earnings yield
3.8%TTM to Jun 26

On the trailing twelve months. Last full year: P/E 27.8× · P/S 2.8× · ROE 9.9%.

Section 09 · The stock

How has the stock performed?

Adjusted close — 2020-01 to 2026-10₹ per share · split / bonus adjusted
0k₹1,6752020202120222023202420252026
Watch

Over 5 years the stock returned 18.5% a year while profit shrank 8.1% a year.

Rule STOCK_RAN_AHEAD

Business vs stock — 5-year compound annual rate
Net profit-8.1%/yrShare price18.5%/yr
1-year return
+54.2%
3-year return
+83.2%
5-year return
+133.5%
From 52-wk high
−3.5%
Section 10 · Technical data

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg
Above₹1,644
vs 200-day avg
Above₹1,415
RSI (14)
49.9neutral
MACD histogram
-5.5
From 52-wk high
−3.5%
From 52-wk low
+56.4%
30-day volatility
24.0%ann.
6-month return
+28.4%
RSI (14) · 0–10049.9 — neutral
0305070100OVERSOLDOVERBOUGHT49.9
Section 11 · Open questions

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

  • Watch
    Stock has run ahead of the business
    Over 5 years the stock returned 18.5% a year while profit shrank 8.1% a year.
    STOCK_RAN_AHEAD · conviction 61
  • Watch
    Volatile earnings
    Profit has swung sharply over 7 years (from ₹1,928 to ₹5,334) — one year is a weak guide to the earnings power.
    EARNINGS_VOLATILE · conviction 57
  • Concern
    Less profitable than peers
    ROE of 9.9% is below the pharmaceuticals median of 14.4%.
    ROE_BELOW_PEER_MEDIAN · conviction 49
  • Watch
    Receivables stretching
    Receivable days rose from 66 to 77 — collections are slower.
    RECEIVABLE_DAYS_JUMP · conviction 42
  • Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference

The numbers

The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.

Income & balance sheet — ₹ crore, consolidated
MetricFY19FY20FY21FY22FY23FY24FY25FY26
Revenue12,25813,26615,82411,28712,79210,64610,93311,172
Total income12,36713,52416,41411,95813,22611,26211,26111,759
EBITDA2,5092,9444,7102,1442,1652,8402,8863,679
Profit before tax1,9652,3784,1931,6371,6142,4032,3583,164
Net profit1,5301,8733,1131,4551,2301,9541,7472,415
EPS (₹)26.132.053.124.821.033.430.041.6
Net worth11,35113,02615,92517,11717,91419,72320,53422,718
Total debt4,5203,7303,9531,8194,1432,8184,6254,182
Operating cash flow——2,9943,7271,8211,7151,6462,933
Free cash flow——2,5983,7561,4911,3021,4542,475
Key ratios — consolidated
RatioFY19FY20FY21FY22FY23FY24FY25FY26
Growth
Revenue growth YoY—8.219.3-28.713.3-16.82.72.2
Profit growth YoY—22.466.2-53.3-15.458.8-10.638.2
Profitability
EBITDA margin %20.522.229.819.016.926.726.432.9
Net margin %12.413.819.012.29.317.415.520.5
Return on equity %13.515.421.58.87.010.48.711.2
Return on capital %13.215.223.08.98.411.610.913.0
Leverage & cash
Debt to equity0.400.290.250.110.230.140.230.18
Cash flow ÷ profit——0.962.561.480.880.941.21
Current ratio1.551.771.832.351.461.381.201.27
Financials: BSE Integrated Filing inline XBRL (SEBI taxonomy), normalised to standard metric keys. Prices: NSE end-of-day, raw OHLC preserved; a corporate-action factor produces the adjusted series. The insight engine writes factual observations from fixed rules — it does not make recommendations. Not investment advice.