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Emcure Pharmaceuticals Limited
(EMCURE)
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Rating:69Neutral
Price Target:
₹1,936.00
▲(43.90% Upside)
Action:Reiterated
Date:08/09/26
The score is driven primarily by strong financial performance (growth and improving profitability with conservative leverage), supported by a clear bullish technical trend. These positives are tempered by weaker cash conversion versus earnings and a demanding valuation (high P/E with minimal dividend yield).
Positive Factors
Revenue Growth
Strong revenue expansion indicates that Emcure is continuing to grow demand for its pharmaceutical portfolio across its domestic and export activities. If sustained, this scale can support broader market reach, operating leverage, and continued investment in products and commercial capabilities.
Negative Factors
Weak Cash Conversion
The gap between reported earnings and free cash flow means profitability is not yet translating fully into cash available for investment, debt reduction, or shareholder returns. Persistent conversion weakness could constrain financial flexibility and make growth more dependent on working-capital management.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Strong revenue expansion indicates that Emcure is continuing to grow demand for its pharmaceutical portfolio across its domestic and export activities. If sustained, this scale can support broader market reach, operating leverage, and continued investment in products and commercial capabilities.
Read all positive factors
Emcure Pharmaceuticals Limited (EMCURE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹354.40B
Dividend Yield0.19%
Average Volume (3M)11.21K
Price to Earnings (P/E)35.1
Beta (1Y)0.68
Revenue Growth18.36%
EPS Growth35.60%
CountryIN
Employees6,914
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)22.89
Shares Outstanding189,710,650
10 Day Avg. Volume10,271
30 Day Avg. Volume11,212
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)6.11
Price to Sales (P/S)3.29
P/FCF Ratio61.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,320.00Price Target Upside72.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)63.24
Revenue Forecast (FY)₹106.03B
Emcure Pharmaceuticals Limited Business Overview & Revenue Model
Company Description
Emcure Pharmaceuticals Limited is committed to providing high-quality, cost-effective healthcare solutions to a global market. The company boasts a diverse product lineup spanning numerous medical fields, such as women's health (gynecology), anti-...
How the Company Makes Money
Emcure Pharmaceuticals makes money primarily by selling pharmaceutical products, with revenue generated from (1) domestic sales and (2) international sales (exports). In the domestic market, earnings largely come from the sale of prescription medi...
Emcure Pharmaceuticals Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2025 | Mar 2025 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 42.98B | 92.04B | 78.08B |
| Gross Profit | 23.41B | 35.79B | 275.05M |
| EBITDA | 8.39B | 18.46B | 14.95B |
| Net Income | 4.32B | 9.24B | 6.81B |
Balance Sheet | |||
| Total Assets | 93.93B | 96.12B | 82.33B |
| Cash, Cash Equivalents and Short-Term Investments | 6.02B | 2.16B | 1.98B |
| Total Debt | 16.59B | 15.21B | 10.23B |
| Total Liabilities | 45.09B | 46.36B | 35.91B |
| Stockholders Equity | 47.43B | 49.50B | 44.46B |
Cash Flow | |||
| Free Cash Flow | 5.07B | 4.90B | 4.45B |
| Operating Cash Flow | 7.48B | 8.51B | 8.52B |
| Investing Cash Flow | -6.40B | -11.95B | -940.01M |
| Financing Cash Flow | 1.99B | 4.38B | -8.14B |
Emcure Pharmaceuticals Limited Technical Analysis
Positive
1345.35
Price Trends
1889.90
Negative
1870.35
Negative
1720.62
Positive
Market Momentum
-18.43
Negative
51.02
Neutral
89.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EMCURE, the sentiment is Positive. The current price of 1345.35 is below the 20-day moving average (MA) of 1849.91, below the 50-day MA of 1889.90, and below the 200-day MA of 1720.62, indicating a neutral trend. The MACD of -18.43 indicates Negative momentum. The RSI at 51.02 is Neutral, neither overbought nor oversold. The STOCH value of 89.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:EMCURE.
Emcure Pharmaceuticals Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹488.98B | 37.34 | ― | 0.31% | 10.59% | 68.21% | |
69 Neutral | ₹354.40B | 35.09 | ― | 0.19% | 18.36% | 35.60% | |
69 Neutral | ₹965.37B | 26.27 | ― | 0.24% | 9.09% | 9.61% | |
69 Neutral | ₹918.70B | 16.62 | ― | 0.90% | 28.19% | 49.25% | |
66 Neutral | ₹651.37B | 36.08 | ― | 0.22% | 32.94% | 138.54% | |
63 Neutral | ₹1.13T | 40.24 | ― | 0.64% | -3.60% | -52.23% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:EMCURE
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Emcure Pharmaceuticals Limited Corporate Events
Emcure Pharma Faces Rs 57.7 Crore Tax Penalty in Ongoing Litigation
Oct 2, 2026
Emcure Pharmaceuticals Limited has disclosed that it has received multiple orders from the Income-tax Department imposing aggregate penalties of Rs 57,73,96,732 for financial years 2014-15 to 2020-21. The penalties arise from an ongoing tax litiga...
Emcure conducts 45th AGM via virtual platform, underscores regulatory compliance
Sep 21, 2026
Emcure Pharmaceuticals held its 45th Annual General Meeting on September 21, 2026, via video conferencing and other audio-visual means, in compliance with the Companies Act, 2013 and SEBI and MCA circulars. The meeting, deemed to be held at the co...
Emcure Pharma Sets Virtual AGM for September, Publishes FY 2025-26 Annual Report
Aug 28, 2026
Emcure Pharmaceuticals Limited has released its Annual Report for the financial year 2025-26 and announced that its 45th Annual General Meeting will be held on September 21, 2026, at 11:00 a.m. IST. The AGM will be conducted via video conferencing...
Emcure Plans Series of Investor Meets at Key Mumbai Conferences
Aug 7, 2026
Emcure Pharmaceuticals Limited has announced a tentative schedule of participation in several major analyst and investor conferences in Mumbai between August and September 2026. The company’s officials plan to attend events hosted by Emkay, ...
Emcure Pharma Maps Out Investor Conference Roadshow for August–September 2026
Aug 7, 2026
Emcure Pharmaceuticals Limited has announced a series of scheduled analyst and investor meetings at prominent investor conferences in Mumbai and other locations in August and September 2026. The planned participation includes events hosted by Emka...
Emcure reshapes board as chairman retires and CEO takes helm
Aug 6, 2026
Emcure Pharmaceuticals has announced a reshuffle in its board leadership, driven by the impending retirement of Chairman and Non-executive Director Berjis Desai at the upcoming AGM, following his appointment to the National Commission for Minoriti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.