SMSPHARMA

SMS Pharmaceuticals Limited

Bulk API manufacturer with backward integration and CDMO capabilities

Healthcare›Healthcare›Pharmaceuticals & Biotechnology›Pharmaceuticals

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Key metrics

Price as of 2026-10-16

Stock price
₹450.50
Market cap
4,224 Cr
Stock P/E
41.2
P/B
5.37
Dividend yield
0.1%
ROE (FY26)
13.0%
ROCE (FY26)
13.4%
Operating margin (FY26)
14.8%
Debt / equity (FY26)
0.46
OCF / EBITDA (FY26)
34.6%
OCF / EBITDA (3Y)
44.8%

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

SMS Pharmaceuticals (SMS Pharma) makes active pharmaceutical ingredients (APIs) and intermediates, such as anti-retroviral, anti-inflammatory, anti-diabetic and anti-migraine medicines, for drug makers in India and abroad.

Company snapshot

64thBy market cap

Ranked among 119 companies in Pharmaceuticals.

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
Sales167 Cr161 Cr246 Cr164 Cr197 Cr173 Cr248 Cr196 Cr242 Cr210 Cr238 Cr207 Cr
Operating expenses (approx.)139 Cr132 Cr212 Cr131 Cr165 Cr140 Cr207 Cr157 Cr194 Cr167 Cr198 Cr166 Cr
EBITDA28 Cr29 Cr34 Cr34 Cr31 Cr33 Cr41 Cr39 Cr48 Cr44 Cr40 Cr41 Cr
OPM %16.7%18.0%13.7%20.4%16.0%19.2%16.4%20.1%20.0%20.7%16.8%19.8%
Other income0.81 Cr1 Cr2 Cr1 Cr1 Cr2 Cr1 Cr0.59 Cr1 Cr4 Cr3 Cr2 Cr
Interest6 Cr6 Cr6 Cr5 Cr5 Cr4 Cr5 Cr6 Cr6 Cr6 Cr5 Cr5 Cr
Depreciation8 Cr8 Cr8 Cr8 Cr9 Cr9 Cr9 Cr10 Cr10 Cr10 Cr10 Cr10 Cr
Profit before tax15 Cr16 Cr23 Cr22 Cr20 Cr24 Cr29 Cr26 Cr34 Cr31 Cr39 Cr28 Cr
Tax %21.0%26.9%24.8%24.9%28.7%22.7%29.4%21.6%26.0%25.3%15.7%25.1%
Net profit12 Cr11 Cr17 Cr16 Cr14 Cr18 Cr20 Cr20 Cr25 Cr23 Cr33 Cr21 Cr
EPS (₹)₹1.39₹1.36₹2.04₹1.95₹1.69₹2.15₹2.40₹2.31₹2.84₹2.59₹3.58₹2.23

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales447 Cr465 Cr465 Cr412 Cr563 Cr520 Cr522 Cr709 Cr783 Cr887 CrSign in free for the trailing twelve months
Operating expenses (approx.)372 Cr372 Cr375 Cr332 Cr442 Cr406 Cr468 Cr593 Cr644 Cr716 CrSign in free for the trailing twelve months
EBITDA75 Cr93 Cr90 Cr80 Cr121 Cr114 Cr55 Cr117 Cr139 Cr171 CrSign in free for the trailing twelve months
OPM %16.7%20.1%19.4%19.4%21.5%22.0%10.4%16.4%17.8%19.3%Sign in free for the trailing twelve months
Other income1 Cr2 Cr3 Cr5 Cr3 Cr5 Cr5 Cr4 Cr6 Cr8 CrSign in free for the trailing twelve months
Interest15 Cr15 Cr12 Cr12 Cr11 Cr19 Cr22 Cr23 Cr19 Cr23 CrSign in free for the trailing twelve months
Depreciation19 Cr20 Cr19 Cr22 Cr22 Cr32 Cr32 Cr32 Cr34 Cr40 CrSign in free for the trailing twelve months
Profit before tax34 Cr52 Cr62 Cr51 Cr93 Cr63 Cr-6 Cr67 Cr94 Cr131 CrSign in free for the trailing twelve months
Tax %17.3%38.5%33.5%35.6%32.5%1.0%-26.2%25.3%26.5%21.9%Sign in free for the trailing twelve months
Net profit28 Cr32 Cr40 Cr33 Cr63 Cr62 Cr-7 Cr50 Cr69 Cr102 CrSign in free for the trailing twelve months
EPS (₹)₹3.37₹3.75₹4.73₹3.73₹7.39₹7.35₹-0.83₹5.89₹8.16₹11.15Sign in free for the trailing twelve months
Dividend payout %————0.0%4.1%—5.1%4.9%3.5%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 capital8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr9 Cr9 Cr
Reserves246 Cr276 Cr331 Cr340 Cr402 Cr462 Cr452 Cr528 Cr631 Cr776 Cr
Borrowings134 Cr130 Cr130 Cr129 Cr251 Cr260 Cr253 Cr280 Cr311 Cr365 Cr
Other liabilities104 Cr88 Cr107 Cr130 Cr151 Cr129 Cr167 Cr218 Cr202 Cr212 Cr
Total liabilities493 Cr503 Cr577 Cr608 Cr812 Cr860 Cr880 Cr1,034 Cr1,153 Cr1,362 Cr
Fixed assets (net)290 Cr279 Cr280 Cr275 Cr452 Cr434 Cr409 Cr434 Cr531 Cr531 Cr
CWIP8 Cr8 Cr18 Cr42 Cr7 Cr11 Cr33 Cr30 Cr35 Cr122 Cr
Investments29 Cr28 Cr19 Cr4 Cr27 Cr22 Cr11 Cr11 Cr12 Cr26 Cr
Inventories93 Cr107 Cr136 Cr129 Cr138 Cr251 Cr223 Cr234 Cr285 Cr351 Cr
Trade receivables21 Cr24 Cr26 Cr49 Cr106 Cr49 Cr148 Cr236 Cr203 Cr216 Cr
Cash & bank12 Cr13 Cr15 Cr10 Cr40 Cr47 Cr7 Cr36 Cr41 Cr46 Cr
Other assets40 Cr43 Cr82 Cr99 Cr42 Cr47 Cr47 Cr53 Cr46 Cr70 Cr
Total assets493 Cr503 Cr577 Cr608 Cr812 Cr860 Cr880 Cr1,034 Cr1,153 Cr1,362 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 activity73 Cr32 Cr——106 Cr40 Cr22 Cr50 Cr82 Cr59 Cr
Cash from investing-39 Cr-17 Cr——-152 Cr-27 Cr-30 Cr-52 Cr-123 Cr-131 Cr
Cash from financing-33 Cr-15 Cr——76 Cr-7 Cr-32 Cr31 Cr47 Cr76 Cr
Net cash flow1 Cr0.35 Cr——31 Cr6 Cr-39 Cr29 Cr5 Cr4 Cr
Free cash flow (OCF − Capex)50 Cr23 Cr——-45 Cr13 Cr-7 Cr-2 Cr-42 Cr-71 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.8%16.2%15.8%13.2%15.7%11.2%2.3%11.0%11.8%13.4%
ROE %11.2%11.2%11.8%9.4%15.2%13.2%-1.5%9.3%10.8%13.0%
Debtor days1719204368341031229589
Inventory days104133162182160236271201207248
Days payable75480076681371308385
Cash conversion cycle46104182225152201237192218251
OCF / EBITDA %98.2%34.1%——87.9%35.2%41.2%43.0%58.8%34.6%
OCF / EBITDA % (3 years)——————58.4%39.5%49.8%44.8%
Debt / equity0.530.460.380.370.610.550.550.520.490.46
Current ratio1.071.391.421.511.581.921.611.611.711.81
Net debt / EBITDA1.631.261.281.50—1.874.502.091.941.86