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India
As of 18 Sept 2026, 03:30 pm
The provided evidence does not contain specific factual data points to support a constructive interpretation of NATCO Pharma's operating performance, financial health, or market setup as of September 18, 2026. While a recent news headline notes general growth in the domestic pharma market driven by price hikes and new launches, it also highlights concerns about weak volumes and US tariff uncertainty, indicating a mixed sector outlook. Technical indicators across daily, weekly, and monthly timeframes show a 'bearish' supertrend direction, and recent period returns are negative, including a year-to-date return of -0.08. Nearest support levels are observed at 809.33 and 808.72, while resistance is noted at 814.67.
On September 9, 2026, Natco Pharma Limited announced a plan to raise up to ₹1,300 crore through a rights issue of equity shares. The company has filed a Draft Letter of Offer for this purpose, aggregating up to ₹13,000 million. The Board of Directors has formed a Fund-Raising Committee to manage this issuance. Additionally, the company intends to revise its demerger scheme between Natco Pharma Limited and Natco Crop Health Sciences Limited after the rights issue is completed, aiming to maintain the original share swap ratio.
As of September 18, 2026, NATCOPHARM shares are trading below key moving averages, with the daily Supertrend indicator showing a 'bearish' direction at ₹873.52. The 20-day Exponential Moving Average (EMA) is at ₹840.41, and the 50-day EMA is at ₹880.37. Nearest resistance levels are identified at ₹814.67 (pivot) and ₹823.58 (high), while support levels are noted at ₹809.33 (low) and ₹808.72 (low).
As of September 18, 2026, NATCOPHARM's stock has experienced negative returns across various timeframes. The year-to-date (YTD) return is -0.08%. Over the past month, the return was -0.09%, and over the last six months, it was -0.15%. The stock has also seen a return of -0.08% over the past year and a cumulative return of -0.42% since its inception.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹735.20 crore | ₹739.10 crore | ₹647.30 crore | PEAK₹1,363 crore | ₹1,328.90 crore |
| Profit Before Exceptional Items And Tax | ₹185.60 crore | ₹144.10 crore | ₹161.10 crore | PEAK₹613.70 crore | ₹571.90 crore |
| Profit Before Tax | ₹185.60 crore | ₹144.10 crore | ₹161.10 crore | PEAK₹613.70 crore | ₹571.90 crore |
| Profit Loss For Period | ₹206.50 crore | ₹269 crore | ₹151.30 crore | PEAK₹517.90 crore | ₹480.30 crore |
| Finance Costs | ₹13 crore | ₹10.90 crore | ₹9.50 crore | PEAK₹13.10 crore | ₹3.20 crore |
| Other Expenses | ₹221.90 crore | ₹298.30 crore | ₹196.10 crore | PEAK₹413.80 crore | ₹355.90 crore |
Other expenses were ₹221.9 crore, down 25.6% sequentially from ₹298.3 crore and down 37.7% from ₹355.9 crore a year ago. The sequential decline in other expenses contributed to the PBT improvement despite flat revenue.
Finance costs rose to ₹13 crore from ₹10.9 crore in the prior quarter (up 19.3%) and from ₹3.2 crore in Q1 FY2025-26 (up 306%).
The quarter shows a sharp year-over-year decline in revenue and profit. Sequentially, revenue stabilized, and profit before tax improved as other expenses fell. However, net profit declined due to a swing in the tax line. Finance costs have risen notably. The revenue level is in line with the previous two quarters, following a decline from the elevated levels of the prior year.
Exchange disclosures and regulatory announcements for NATCO Pharma.
On September 9, 2026, the Board of Directors of Natco Pharma Limited approved a rights issue to raise up to ₹1,300 crore by issuing fully paid-up equity shares with a face value of ₹2 each. The Board also constituted a Fund-Raising Committee comprising V.C. Nannapaneni, Rajeev Nannapaneni, and P.S.R.K. Prasad to execute this issuance. Additionally, the Board decided to revise the ongoing demerger scheme between Natco Pharma Limited and Natco Crop Health Sciences Limited after the rights issue is completed to maintain the original share swap ratio.
Natco Pharma Limited filed a Draft Letter of Offer on September 9, 2026, for a Rights Issue of equity shares aggregating up to ₹13,000 million, with a face value of ₹2 each, to eligible equity shareholders on a record date to be determined. The issue is subject to regulatory approvals and the final ratio of shares offered per share held is not yet specified. The company has received in-principle listing approvals from NSE and BSE for the new shares.
On September 5, 2026, NATCO Pharma Limited submitted copies of newspaper publications from Financial Express and Nava Telangana to the BSE and NSE regarding its 43rd Annual General Meeting for the year ended March 31, 2026. The filings were made pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the documents also made available on the company's website at www.natcopharma.co.in.
Board Meeting Intimation |Meeting Date: 09-Sep-2026
Fund Raising |Meeting Date: 09-Sep-2026
NATCO PHARMA LIMITED scheduled a board meeting for September 9, 2026, to consider fundraising as the primary agenda item. The specific mode of raising funds has not yet been determined and is listed as 'to be ascertained' in the filing dated September 4, 2026.
Natco Pharma Limited will hold its 43rd Annual General Meeting on September 30, 2026, at 11:00 AM via video conference. The agenda includes adoption of audited financial statements for FY 2025-26, confirmation of three interim dividends totaling ₹5.00 per share for FY 2025-26, re-appointment of Executive Director Sri P.S.R.K. Prasad (DIN: 07011140) for a tenure ending March 31, 2027, ratification of Cost Auditors' remuneration, and a special resolution to raise up to ₹2,000 crores through issuance of securities.
NATCO Pharma Ltd's 43rd AGM will be held on September 30, 2026, via video conferencing to adopt audited financial statements for FY 2025-26, confirm three interim dividends aggregating ₹5.00 per share, and re-appoint director P.S.R.K. Prasad. Shareholders will also vote on ratifying ₹5,00,000 remuneration for cost auditors S.S. Zanwar & Associates for FY ending March 31, 2027, and authorizing the board to raise up to ₹2,000 crores through various securities issuances, including a QIP with a 5% discount on the floor price and a 365-day allotment period.
Recent market and company developments associated with NATCO Pharma.
Domestic pharma growth remained strong in August, led by price hikes and new launches, but weak volumes and US tariff uncertainty mean a sustained margin recovery will be crucial for sector performance.
Natco Pharma invests $14 million in eGenesis, raising total funding to $22 million for innovative organ transplantation solutions.
Shares of Steel Authority of India (SAIL) barred from fresh F&O positions on 24 August 2026.
What brokerage say on the IPO?
Indian equity markets closed largely unchanged on Friday, August 21, after a volatile trading session. Several companies, including Reliance Industries and Bank of Baroda, reported significant corporate developments. Power Grid Corporation and Jubilant Pharmova also announced key project wins and regulatory approvals. NATCO Pharma and Caplin Point Laboratories received observations from the US FDA after inspections. Mobile manufacturing stocks are expected to gain attention following a new gover...
RIL shareholders approved resolutions on Aug 20, 2026. Caplin Point, NATCO Pharma, and Choksi Labs received US FDA Form 483 observations. Mobile & EMS stocks in focus after new manufacturing scheme.
NATCO Pharma said that the U.S. Food and Drug Administration (US FDA) has issued a Form 483 with four observations post an inspection to the company's manufacturing plant at Visakhapatnam.
Natco Pharma's Vizag FDF unit receives four FDA observations, but remains confident in addressing them promptly.
Comprehensive Section Breakdown for NATCO Pharma
Strategic Vision: Develops, manufactures, and markets pharmaceutical formulations and APIs.
• Vertically integrated structure
• Expertise in complex generics and niche molecules
• In-house research and development capabilities
• State-of-the-art manufacturing units
Natco Pharma’s Q1 FY2026-27 revenue of ₹735.2 crore was 44.7% lower than the same quarter last year, though nearly flat compared to the previous quarter. Profit before tax increased 28.8% sequentially, but net profit fell 23.2% due to a swing in tax expense from a credit in the prior quarter to an expense this quarter. Other expenses declined significantly, while finance costs rose.
Revenue from operations was ₹735.2 crore in the quarter, essentially unchanged from ₹739.1 crore in Q4 FY2025-26 (a decline of 0.5%). Year-over-year, revenue fell sharply from ₹1,328.9 crore in Q1 FY2025-26, a decline of 44.7%.
The revenue pattern over the last five quarters shows a spike in the first half of FY2025-26 (Q1 and Q2 both above ₹1,300 crore), followed by a drop to the ₹650–740 crore range in the second half and continuing into Q1 FY2026-27. The current quarter’s revenue is in line with the recent two quarters, following a decline from the elevated levels of the prior year.
Profit before tax (PBT) was ₹185.6 crore, up 28.8% from ₹144.1 crore in Q4 FY2025-26, despite the slight revenue decline. This improvement was aided by a reduction in other expenses. Compared to the same quarter last year, PBT was 67.6% lower, reflecting the much lower revenue base.
Net profit for the period was ₹206.5 crore, down 23.2% from ₹269 crore in Q4 FY2025-26, even though PBT increased. The divergence is explained by a significant swing in tax expense: Q4 FY2025-26 included a tax credit of ₹-89.2 crore, while Q1 FY2026-27 recorded a tax expense of ₹63.4 crore. This ₹152.6 crore swing in the tax line more than offset the PBT increase, causing net profit to fall.
Year-over-year, net profit declined 57.0% from ₹480.3 crore, in line with the PBT decline.
Other comprehensive income (OCI) was ₹111 crore, up 33.4% from ₹83.2 crore in Q4 FY2025-26 and up 182% from ₹39.3 crore a year ago. OCI includes items such as revaluation gains and foreign currency translation adjustments that are not part of the profit calculation. Including OCI, total comprehensive income (net profit + OCI) was ₹317.5 crore, compared to ₹352.2 crore in Q4 and ₹519.6 crore in Q1 FY2025-26. The increase in OCI partially offset the decline in net profit, but total comprehensive income still fell sequentially and year-over-year.
Natco Pharma reported Q1FY27 consolidated revenue of ₹794.4 crore, down from ₹1,390.6 crore in the same quarter last year, primarily due to lower Lenalidomide revenue. The base business, however, showed growth. Net profit declined to ₹206.5 crore from ₹480.3 crore. The company also announced an additional 13.25% stake acquisition in Adcock Ingram Holdings, increasing its total holding to 49%, which is expected to bolster its international presence. Management is evaluating raising up to ₹2,000 crore through various equity instruments to fund future growth initiatives. An interim dividend of ₹1.50 per share has been declared for FY2026-27.
Category: Manufacturing
This segment encompasses the development and sale of finished dosage forms for various therapeutic areas, particularly in niche markets such as oncology.
Category: Manufacturing
NATCO Pharma develops and manufactures Active Pharmaceutical Ingredients, with expertise in complex chemistry and long synthesis processes, particularly in oncology APIs and specialty products.
Category: B2B Services
Through this segment, NATCO Pharma provides agrochemicals and biological pest management solutions, addressing insect, disease, and weed management for various crops.
Core Thesis: A vertically integrated structure focusing on complex generics and niche molecules, supported by in-house R&D and state-of-the-art manufacturing.
• Focus on high-margin generic drugs: Prioritizes launches in international markets like the United States and Europe, leveraging exclusive launches for competitive advantages. • Diversification and market expansion: Expands into emerging markets and actively seeks strategic partnerships to broaden its reach. • Continuous investment in R&D: Focuses on advanced research in complex molecules to enter new therapeutic areas and expand crop health sciences.