DIVISLAB

Divi's Laboratories Limited

One of India's largest API makers, plus custom manufacturing for global pharma innovators

Healthcare›Healthcare›Pharmaceuticals & Biotechnology›Pharmaceuticals

divislabs.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹9144.50
Market cap
2,42,955 Cr
Stock P/E
83.1
P/B
14.47
Dividend yield
0.3%
ROE (FY26)
15.3%
ROCE (FY26)
20.4%
Operating margin (FY26)
28.2%
OCF / EBITDA (FY26)
79.6%
OCF / EBITDA (3Y)
65.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Divi's Laboratories makes active pharmaceutical ingredients (APIs), intermediates and nutraceutical ingredients for global pharma customers, both as generic APIs and as custom synthesis work for innovator companies.

Company snapshot

2ndBy market cap

Ranked among 119 companies in Pharmaceuticals.

What we see

Positives
  • ✓Net margin of 24.3% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,909 Cr1,855 Cr2,303 Cr2,118 Cr2,338 Cr2,319 Cr2,585 Cr2,410 Cr2,715 Cr2,604 Cr2,831 Cr3,080 Cr
Operating expenses (approx.)1,430 Cr1,366 Cr1,572 Cr1,496 Cr1,622 Cr1,576 Cr1,699 Cr1,681 Cr1,827 Cr1,714 Cr1,897 Cr1,825 Cr
EBITDA479 Cr489 Cr731 Cr622 Cr716 Cr743 Cr886 Cr729 Cr888 Cr890 Cr934 Cr1,255 Cr
OPM %25.1%26.4%31.7%29.4%30.6%32.0%34.3%30.2%32.7%34.2%33.0%40.7%
Other income86 Cr95 Cr79 Cr79 Cr106 Cr82 Cr86 Cr119 Cr145 Cr88 Cr155 Cr64 Cr
Interest1 Cr0 Cr2 Cr0 Cr1 Cr0 Cr1 Cr3 Cr8 Cr6 Cr6 Cr6 Cr
Depreciation95 Cr95 Cr95 Cr97 Cr99 Cr99 Cr107 Cr112 Cr113 Cr118 Cr120 Cr133 Cr
Profit before tax469 Cr489 Cr713 Cr604 Cr722 Cr726 Cr864 Cr733 Cr912 Cr780 Cr963 Cr1,180 Cr
Tax %25.8%26.8%24.5%28.8%29.4%18.9%23.4%25.6%24.5%25.3%22.0%23.6%
Net profit348 Cr358 Cr538 Cr430 Cr510 Cr589 Cr662 Cr545 Cr689 Cr583 Cr751 Cr902 Cr
EPS (₹)₹13.11₹13.50₹20.25₹16.20₹19.20₹22.20₹24.93₹20.49₹25.97₹21.98₹28.31₹33.95

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,106 Cr3,913 Cr4,946 Cr5,394 Cr6,969 Cr8,960 Cr7,768 Cr7,845 Cr9,360 Cr10,560 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,660 Cr2,651 Cr3,074 Cr3,572 Cr4,109 Cr5,078 Cr5,400 Cr5,640 Cr6,392 Cr7,119 CrSign in free for the trailing twelve months
EBITDA1,446 Cr1,262 Cr1,872 Cr1,822 Cr2,860 Cr3,882 Cr2,368 Cr2,205 Cr2,968 Cr3,441 CrSign in free for the trailing twelve months
OPM %35.2%32.2%37.8%33.8%41.0%43.3%30.5%28.1%31.7%32.6%Sign in free for the trailing twelve months
Other income75 Cr113 Cr156 Cr190 Cr63 Cr114 Cr345 Cr339 Cr352 Cr507 CrSign in free for the trailing twelve months
Interest2 Cr1 Cr4 Cr6 Cr0.87 Cr0.80 Cr0.67 Cr3 Cr2 Cr23 CrSign in free for the trailing twelve months
Depreciation123 Cr142 Cr169 Cr186 Cr256 Cr312 Cr343 Cr378 Cr402 Cr463 CrSign in free for the trailing twelve months
Profit before tax1,395 Cr1,231 Cr1,855 Cr1,819 Cr2,666 Cr3,684 Cr2,369 Cr2,163 Cr2,916 Cr3,388 CrSign in free for the trailing twelve months
Tax %24.0%28.8%27.1%24.3%25.6%19.6%23.0%26.0%24.9%24.2%Sign in free for the trailing twelve months
Net profit1,060 Cr877 Cr1,353 Cr1,377 Cr1,984 Cr2,960 Cr1,823 Cr1,600 Cr2,191 Cr2,568 CrSign in free for the trailing twelve months
EPS (₹)₹39.95₹33.04₹50.96₹51.85₹74.75₹111.52₹68.69₹60.27₹82.53₹96.75Sign in free for the trailing twelve months
Dividend payout %————0.0%17.9%43.7%49.8%36.3%31.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital53 Cr53 Cr53 Cr53 Cr53 Cr53 Cr53 Cr53 Cr53 Cr53 Cr
Reserves5,304 Cr5,872 Cr6,904 Cr7,257 Cr9,242 Cr11,675 Cr12,714 Cr13,518 Cr14,916 Cr16,708 Cr
Borrowings36 Cr63 Cr106 Cr34 Cr0.35 Cr———2 Cr—
Other liabilities765 Cr795 Cr975 Cr1,192 Cr1,479 Cr1,647 Cr1,672 Cr1,899 Cr1,961 Cr3,272 Cr
Total liabilities6,159 Cr6,783 Cr8,038 Cr8,536 Cr10,774 Cr13,375 Cr14,439 Cr15,470 Cr16,932 Cr20,033 Cr
Fixed assets (net)1,556 Cr1,990 Cr2,084 Cr2,773 Cr3,699 Cr4,314 Cr4,714 Cr4,733 Cr5,437 Cr6,515 Cr
CWIP444 Cr120 Cr492 Cr920 Cr711 Cr470 Cr212 Cr778 Cr1,022 Cr2,113 Cr
Investments1,631 Cr1,889 Cr1,946 Cr971 Cr0.01 Cr72 Cr77 Cr82 Cr65 Cr69 Cr
Loans & advances——0.11 Cr0.09 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories1,320 Cr1,351 Cr1,772 Cr1,864 Cr2,145 Cr2,829 Cr3,000 Cr3,184 Cr3,236 Cr3,954 Cr
Trade receivables901 Cr1,014 Cr1,163 Cr1,413 Cr1,677 Cr2,424 Cr1,793 Cr2,156 Cr2,731 Cr2,984 Cr
Cash & bank21 Cr25 Cr13 Cr43 Cr2,030 Cr1,215 Cr170 Cr363 Cr415 Cr128 Cr
Other assets287 Cr394 Cr568 Cr551 Cr512 Cr2,051 Cr4,473 Cr4,174 Cr4,026 Cr4,270 Cr
Total assets6,159 Cr6,783 Cr8,038 Cr8,536 Cr10,774 Cr13,375 Cr14,439 Cr15,470 Cr16,932 Cr20,033 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity1,150 Cr776 Cr954 Cr1,216 Cr1,947 Cr1,912 Cr2,460 Cr1,261 Cr1,653 Cr2,738 Cr
Cash from investing-1,140 Cr-478 Cr-685 Cr-83 Cr75 Cr-2,195 Cr-2,708 Cr-269 Cr-804 Cr-2,219 Cr
Cash from financing2 Cr-314 Cr-246 Cr-1,091 Cr-35 Cr-532 Cr-797 Cr-799 Cr-799 Cr-804 Cr
Net cash flow13 Cr-17 Cr23 Cr41 Cr1,987 Cr-816 Cr-1,045 Cr193 Cr50 Cr-285 Cr
Free cash flow (OCF − Capex)774 Cr502 Cr221 Cr33 Cr1,037 Cr1,199 Cr1,987 Cr258 Cr215 Cr218 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %25.9%20.6%26.3%24.9%28.7%31.4%18.6%16.0%19.5%20.4%
ROE %19.8%14.8%19.4%18.8%21.3%25.2%14.3%11.8%14.6%15.3%
Debtor days80948696889884100106103
Inventory days305322307309326296363360308329
Days payable10398859811683929387101
Cash conversion cycle282318307307297311355367328331
OCF / EBITDA %79.6%61.5%51.0%66.7%68.1%49.2%103.9%57.2%55.7%79.6%
OCF / EBITDA % (3 years)——62.9%59.4%62.8%59.3%69.4%66.6%71.3%65.6%
Debt / equity0.00670.010.020.00460.0000———0.0001—
Current ratio6.086.975.495.055.556.998.467.576.945.43
Net debt / EBITDA0.01—0.05-0.0052-0.71-0.31-0.07-0.16-0.14-0.04