Innova Captab Limited (INNOVACAP) AI Stock Analysis

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Innova Captab Limited

(NSE:INNOVACAP)

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Rating:71Outperform

Price Target:INR 1,131.00▼(-3.43% Downside)

Action:reiterated

Date:10/01/26

Strong financial performance with accelerating revenue growth and balance sheet strength is the primary positive driver, reinforced by supportive technical indicators showing long-term bullish momentum; high valuation metrics provide a partial offset.

Positive Factors

Strong Revenue GrowthStrong revenue scaling indicates that Innova Captab is expanding its pharmaceutical manufacturing and finished-dosage business. Sustained top-line growth can support greater operating scale, strengthen customer relationships, and provide resources for continued capacity and product development investment.

Negative Factors

Weak Cash Flow ConversionRepeatedly negative free cash flow and only modest improvement in 2026 show that reported earnings have not yet translated consistently into cash. Working-capital drag or heavy reinvestment can limit self-funded growth, increase reliance on financing, and make execution more sensitive to operating conditions.

Innova Captab Limited (INNOVACAP) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 66.31B
Dividend Yield: 0.17%
Average Volume (3M): 36.41K
Price to Earnings (P/E): 43.6
Beta (1Y): 0.63
Revenue Growth: 36.84%
EPS Growth: 35.82%
Country: India
Employees: 1,600
Sector: General
Sector Strength: 55
Industry: Drug Manufacturers - Specialty & Generic

Innova Captab Limited Business Overview & Revenue Model

Company Description

Innova Captab Limited, established in Panchkula, India, in 2005, operates as a comprehensive pharmaceutical enterprise. Its operations encompass the full spectrum of drug development, from research and development and manufacturing to distribution an...

How the Company Makes Money

Innova Captab Limited primarily makes money by manufacturing and selling pharmaceutical finished dosage formulations. Its revenue model generally includes: (1) Sales of finished dosage products: income earned from supplying its own or customer-specif...

Innova Captab Limited Financial Statement Overview

Summary

Robust revenue growth accelerating to 19.6% with net income reaching 1.41 billion, improving gross margins to 22.4%, and a solid balance sheet with debt-to-equity at 0.32 offset cash flow volatility from investments.

Income Statement

85Very Positive

Balance Sheet

80Positive

Cash Flow

65Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	17.49B	16.04B	12.44B	10.77B	9.26B	8.00B
Gross Profit	3.95B	5.23B	4.30B	3.42B	2.35B	1.73B
EBITDA	2.67B	2.10B	1.86B	1.67B	1.23B	987.68M
Net Income	1.54B	1.41B	1.28B	943.45M	679.54M	639.53M
Balance Sheet
Total Assets	0	18.37B	15.80B	13.21B	10.19B	5.75B
Cash, Cash Equivalents and Short-Term Investments	682.50M	451.54M	652.81M	840.92M	70.25M	8.75M
Total Debt	0	3.44B	3.38B	2.45B	2.37B	1.99B
Total Liabilities	-10.91B	7.47B	6.21B	4.90B	6.93B	3.67B
Stockholders Equity	10.91B	10.91B	9.59B	8.31B	2.77B	2.09B
Cash Flow
Free Cash Flow	-125.34M	343.39M	-1.09B	-1.41B	-118.67M	-209.85M
Operating Cash Flow	297.19M	1.03B	638.44M	1.46B	671.24M	588.98M
Investing Cash Flow	-354.74M	-1.10B	-1.52B	-4.99B	-908.43M	-1.88B
Financing Cash Flow	-92.25M	-51.35M	915.33M	3.61B	270.92M	1.25B

Innova Captab Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price1171.15

Price Trends

50DMA1115.49Positive

100DMA1053.41Positive

200DMA906.27Positive

Market Momentum

MACD4.76Negative

RSI65.72Neutral

STOCH96.66Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INNOVACAP, the sentiment is Positive. The current price of 1171.15 is above the 20-day moving average (MA) of 1039.38, above the 50-day MA of 1115.49, and above the 200-day MA of 906.27, indicating a bullish trend. The MACD of 4.76 indicates Negative momentum. The RSI at 65.72 is Neutral, neither overbought nor oversold. The STOCH value of 96.66 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INNOVACAP.

Innova Captab Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:INNOVACAP against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:INNOVACAP	71Outperform	INR 67.02B	43.57	―	0.17%	36.84%	35.82%
IN:BLISSGVS	65Neutral	INR 71.56B	44.52	―	0.22%	24.87%	46.37%
IN:GUFICBIO	58Neutral	INR 47.29B	64.62	―	0.02%	16.70%	18.73%
IN:MOREPENLAB	57Neutral	INR 54.66B	29.05	―	0.20%	30.20%	91.17%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:ORCHPHARMA	54Neutral	INR 52.79B	517.19	―	―	10.83%	-89.83%
IN:UNICHEMLAB	51Neutral	INR 35.07B	10.36	―	―	6.44%	283.10%

* General Sector Average

Performance Comparison

IN:INNOVACAP and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:INNOVACAP	Innova Captab Limited	1171.15	444.65	61.21%
IN:BLISSGVS	Bliss Gvs Pharma Limited	673.00	510.22	313.45%
IN:GUFICBIO	Gufic Biosciences Limited	471.55	156.83	49.83%
IN:MOREPENLAB	Morepen Laboratories Limited	99.75	53.60	116.13%
IN:ORCHPHARMA	Orchid Pharma Limited	881.50	23.55	2.74%
IN:UNICHEMLAB	Unichem Laboratories Limited	498.05	21.60	4.53%

Innova Captab Limited Corporate Events

Innova Captab Files Scrutinizer’s Report and Voting Results for 22nd AGM

Oct 2, 2026

Innova Captab Limited, a listed pharmaceutical and healthcare company with operations in Panchkula and a registered office in Navi Mumbai, held its 22nd Annual General Meeting in compliance with SEBI’s Listing Regulations. The company is traded on BS...

Innova Captab Board Clears Revised Audited FY26 Results

Aug 23, 2026

Innova Captab Limited has notified the stock exchanges that its board has approved revised audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, following a late-night board meeting on August 2...

Innova Captab Revises FY26 Accounts and Clears Baddi Plant Expansion

Aug 22, 2026

Innova Captab Limited’s board has approved the revision of its standalone and consolidated financial statements for the financial year ended 31 March 2026, including updated audited results, balance sheets, cash flow statements, and independent audit...

Innova Captab Revises FY26 Results and Clears Baddi Capacity Expansion

Aug 22, 2026

Innova Captab Limited’s board has approved a revision of the company’s standalone and consolidated financial statements for the fiscal year 2025-26, including updated audited results, balance sheets, cash flow statements and auditor reports for the y...

Innova Captab Extends Trading Window Closure Ahead of Revised FY26 Results

Aug 13, 2026

Innova Captab Limited has announced that its trading window for dealing in the company’s securities will remain closed for all designated persons and their immediate relatives, in line with SEBI’s Prohibition of Insider Trading Regulations and the co...

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.

Date of analysis: Oct 01, 2026

Innova Captab Limited AI Stock Analysis