# Natco Pharma (NATCOPHARM) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/natcopharm

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹807
- Change: +1.31%
- As of: 2026-11-06
- 1D return: +1.31%
- 5D return: +3.14%
- 1M return: +1.46%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

NATCOPHARM (₹807.00) is trading in a weak, bearish trend across daily, weekly, and monthly horizons, confirmed by price action below the Supertrend and key long-term moving averages (50-period SMA, 200-period SMA). The ADX readings are low (18.88 daily, 15.19 monthly), indicating a lack of strong directional conviction despite the downward bias. Price is currently positioned near the upper end of its 20-day range (+70.2%) but remains significantly depressed relative to its 252-day high (-42.2% drawdown). Immediate resistance sits at ₹807.78 (0.10% above), with further hurdles at ₹818.97 and ₹828.03. Support is closely located at ₹804.66, followed by a pivot at ₹798.72. A recent downward gap on 2026-10-28 adds overhead supply pressure. While short-term returns are slightly positive over the last month (+1.3%), the stock has declined 11.6% over three months and 29.8% over six months. An active monthly Inside Bar pattern suggests consolidation, requiring a decisive break above resistance or below support to clarify the next directional move.

- Trend: Bearish structure confirmed on daily, weekly, and monthly charts; price trades below Supertrend and major moving averages (50/200 SMA).
- Momentum: Weak directional strength (ADX  19); short-term price recovery (+1.3% in 1 day, +1.9% in 10 days) lacks broad trend confirmation.
- Levels: Immediate resistance at ₹807.78 (0.10% above) and ₹818.97 (1.48% above); critical support at ₹804.66 (0.29% below) and pivot at ₹798.72 (1.03% below).
- Risk: High volatility (annualized 39.0%) and deep structural drawdown (-42.2% from available high); recent downward gap on 2026-10-28 acts as overhead supply.

- Inside Bar
- Doji
- Harami
- Outside Bar
- Shooting Star

### News Context

NATCO Pharma has completed a significant capital raise, allotting 17,058,082 equity shares at ₹750 per share on October 23, 2026. This transaction increased the company's paid-up equity share capital from approximately ₹35.82 crore to ₹39.23 crore. The formal basis of this allotment was published in newspapers on October 29, 2026. Looking ahead, the Board is scheduled to meet on November 13, 2026, to approve quarterly financial results for the period ended September 2026 and consider dividend declarations.

Market performance reflects substantial recent volatility. As of November 6, 2026, the stock closed at ₹807.00, with a market capitalization of approximately ₹15,626.74 crore. Technical indicators show a bearish trend across daily, weekly, and monthly timeframes, with the price trading below key moving averages. Year-to-date returns are negative at -9.1%, and the stock has experienced a maximum drawdown of -46.6% since the start of the data period.

- Rights Issue Completion: On October 23, 2026, NATCO Pharma allotted 17,058,082 shares at ₹750 each, raising paid-up capital to ₹39,23,35,904 (19,61,67,952 shares). Newspaper publication confirming the basis of allotment occurred on October 29, 2026.
- Upcoming Financials: A Board Meeting is scheduled for November 13, 2026, to consider and approve the Quarterly Unaudited Financial Results for the quarter ended September 2026 and any dividend distribution.
- Price Action & Valuation: The stock closed at ₹807.00 on November 6, 2026, with a market cap of ~₹15,626.74 crore. The stock is down -9.1% year-to-date and has suffered a maximum drawdown of -46.6% over the observed period.
- Technical Trend: Daily, weekly, and monthly technical indicators (including Supertrend and ADX) signal a bearish trend. The stock trades near resistance levels at ₹807.78 and ₹818.97, while support exists at ₹804.66 and ₹798.72.

- Natco Pharma Limited has informed the Exchange about Copy of News Paper Publication of Basis of Allotment for Rights Issue |SUBJECT: Copy of Newspaper Publication
- NATCO PHARMA LIMITED has informed the Exchange about Board Meeting to be held on 13-Nov-2026 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Dividend. |SUBJECT: Board Meeting Intimation
- Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Committee Meeting Updates
- NATCO PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
- Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Allotment of Securities

### Official Filings

Natco Pharma Limited has completed a significant capital expansion through a rights issue, increasing its paid-up equity share capital from ₹35.82 crore to ₹39.23 crore. The Fund-Raising Committee approved the allotment of 17,058,082 equity shares at ₹750 per share on October 23, 2026, following the issue's closure on October 22, 2026. This issuance diluted existing ownership stakes, with the public holding reported at 50.61% as of September 30, 2026.

In operational developments, the company’s U.S. subsidiary launched Carboplatin Injection (a generic of Paraplatin®) in collaboration with Teyro Labs Pvt Ltd on October 19, 2026, aiming to address product shortages in the U.S. market. Investors should note that the Board will meet on November 13, 2026, to approve quarterly financial results for the period ended September 2026 and consider dividend declarations. A trading window closure was in effect until October 28, 2026, to facilitate demat credit for designated persons.

- Capital Structure: Paid-up share capital increased to ₹39.23 crore (19,61,67,952 shares) after allotting 17,058,082 shares at ₹750 each under the rights issue closed on October 22, 2026.
- Operational Launch: NATCO Pharma USA LLC launched Carboplatin Injection in the U.S. market on October 19, 2026, via a manufacturing collaboration with Teyro Labs Pvt Ltd.
- Upcoming Results: The Board is scheduled to meet on November 13, 2026, to approve Q2 FY2027 unaudited financial results and consider dividends.
- Shareholding Pattern: As of September 30, 2026, the public holding stood at 50.61%, while promoter/promoter group holding was 49.39%.

- [Natco Pharma Limited has informed the Exchange about Copy of News Paper Publication of Basis of Allotment for Rights Issue |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NATCOPHARM_29102026171312_PaperPublications_BasisOfAllotment.pdf)
- [NATCO PHARMA LIMITED has informed the Exchange about Board Meeting to be held on 13-Nov-2026 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Dividend. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_1299_WebXMLFile_20261029_171627555.xml)
- [Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Committee Meeting Updates](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210034_Outcome_of_FRC23102026.pdf)
- [NATCO PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_1299_WebXMLFile_20261023_210903968.xml)
- [Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Allotment of Securities](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210658_Outcome_of_FRC23102026.pdf)
- [Natco Pharma Limited has informed the Exchange regarding Intimation of closure of the Issue period of the Rights Issue of NATCO Pharma Limited (the Company ) |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026132043_RightsClosingIntimation.pdf)
- [Natco Pharma Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026182538_Trading_Window_update_SEs.pdf)
- [Natco Pharma Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "NATCO announces launch of Carboplatin Injection (generic of Paraplatin®) in the U.S. market". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/NATCOPHARM_19102026141928_PressRelease.pdf)
- [Natco Pharma Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/NATCOPHARM_16102026165735_74_5_letter.pdf)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 49.39 | PUBLIC_VAL: 50.61 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 16-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1740079_16102026045222_WEB.xml)

### Fundamentals

NATCO Pharma’s Q1 FY2026-27 results reveal a divergence between operational efficiency and top-line momentum. Revenue from operations remained stable at ₹735.20 crore, while Profit Before Tax (PBT) rose 29% sequentially to ₹185.60 crore, driven by a significant 26% reduction in other expenses to ₹221.90 crore. However, Net Profit declined 23% to ₹206.50 crore as finance costs increased to ₹13 crore, reflecting higher borrowings that rose to ₹714 crore by Mar 2026.

Earnings quality remains robust, with Cash Flow from Operations (CFO) converting 148% of operating profit into cash in FY2026. Yet, the balance sheet shows strain: Inventory Days surged to 480 days, and ROCE dropped sharply to 17%. The TTM sales growth is -21%, and TTM net profit has contracted to ₹1,145 crore from ₹1,883 crore in FY2025. While promoter holding remains steady at ~49%, FIIs reduced their stake to 15.99%.

The key checkpoint is whether the expense discipline can sustain profitability despite rising interest costs and inventory buildup, particularly as the company invests ₹294 crore in CWIP.

- PBT improved to ₹185.60 crore in Q1 FY2026-27 due to lower other expenses (₹221.90 crore), but Net Profit fell to ₹206.50 crore as finance costs rose to ₹13 crore.
- Cash conversion remains strong at 148% of operating profit, yet ROCE declined to 17% amid rising borrowings (₹714 crore) and inventory days increasing to 480 days.
- TTM sales have contracted by 21% and TTM net profit by 39% compared to FY2025 levels, signaling a slowdown in revenue generation despite recent quarterly stability.

### Bear Case

NATCO Pharma (NSE) exhibits significant technical weakness and prolonged underperformance as of November 6, 2026. The stock is trading at ₹807.0, reflecting a year-to-date decline of -9.1% and a severe six-month drawdown of -29.8%. Over the past year, returns have stagnated at +0.8%, while the maximum historical drawdown stands at -46.6%, indicating substantial downside volatility with an annualized volatility of +39.0%. Technical indicators across daily, weekly, and monthly timeframes are uniformly bearish; the Supertrend direction is negative on all three horizons, and moving averages show steep downward slopes, particularly the SMA-20 slope of -5.61 on the daily chart. Immediate resistance is tight at ₹807.78 (0.10% above), suggesting limited upside momentum, while support levels begin just below at ₹804.66. The combination of high volatility, persistent negative trend signals, and deep cumulative losses underscores a challenging market setup for shareholders.

- Prolonged Underperformance: The stock has declined -9.1% year-to-date and -29.8% over the last six months, with a maximum drawdown of -46.6% and annualized volatility of +39.0%.
- Uniform Bearish Technicals: Daily, weekly, and monthly Supertrend directions are all bearish, accompanied by negative slopes in key moving averages (e.g., SMA-20 daily slope of -5.61).
- Tight Resistance Ceiling: Current price of ₹807.0 faces immediate resistance at ₹807.78 (0.10% above), limiting near-term upside potential against weak momentum indicators.

- [Natco Pharma Limited has informed the Exchange about Copy of News Paper Publication of Basis of Allotment for Rights Issue |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NATCOPHARM_29102026171312_PaperPublications_BasisOfAllotment.pdf)
- [NATCO PHARMA LIMITED has informed the Exchange about Board Meeting to be held on 13-Nov-2026 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Dividend. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_1299_WebXMLFile_20261029_171627555.xml)
- [Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Committee Meeting Updates](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210034_Outcome_of_FRC23102026.pdf)
- [NATCO PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_1299_WebXMLFile_20261023_210903968.xml)
- [Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Allotment of Securities](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210658_Outcome_of_FRC23102026.pdf)
- [Natco Pharma Limited has informed the Exchange regarding Intimation of closure of the Issue period of the Rights Issue of NATCO Pharma Limited (the Company ) |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026132043_RightsClosingIntimation.pdf)
- [Natco Pharma Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026182538_Trading_Window_update_SEs.pdf)
- [Natco Pharma Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "NATCO announces launch of Carboplatin Injection (generic of Paraplatin®) in the U.S. market". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/NATCOPHARM_19102026141928_PressRelease.pdf)
- [Natco Pharma Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/NATCOPHARM_16102026165735_74_5_letter.pdf)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 49.39 | PUBLIC_VAL: 50.61 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 16-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1740079_16102026045222_WEB.xml)

### FAQs

**What capital-raising activity has Natco Pharma recently completed, and how does it affect share count?**

On October 23, 2026, the Fund-Raising Committee approved the allotment of 17,058,082 equity shares at ₹750 per share. This rights issue increased the paid-up equity share capital from ₹35,82,19,740 to ₹39,23,35,904, raising the total fully paid shares from 17,91,09,870 to 19,61,67,952.

**When will the company report its latest quarterly financial results?**

The Board Meeting to consider and approve the Quarterly Unaudited Financial Results for the period ended September 2026 is scheduled for November 13, 2026. The agenda also includes consideration of a dividend.

**How has the stock performed over the last six months compared to its recent daily trend?**

Over the past six months, the stock has declined by 29.8%, with a current drawdown of -42.2%. Despite this longer-term weakness, the stock rose +1.3% in the most recent trading session, closing at ₹807.00 against a previous close of ₹796.60.

**What are the immediate technical support and resistance levels for the stock?**

Immediate support is observed at ₹804.66 (0.29% below) and ₹798.72 (1.03% below). Resistance levels are located at ₹807.78 (0.10% above), ₹818.97 (1.48% above), and ₹828.03 (2.61% above).

- [Natco Pharma Limited has informed the Exchange about Copy of News Paper Publication of Basis of Allotment for Rights Issue |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NATCOPHARM_29102026171312_PaperPublications_BasisOfAllotment.pdf)
- [NATCO PHARMA LIMITED has informed the Exchange about Board Meeting to be held on 13-Nov-2026 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Dividend. |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_1299_WebXMLFile_20261029_171627555.xml)
- [Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Committee Meeting Updates](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210034_Outcome_of_FRC23102026.pdf)
- [NATCO PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_1299_WebXMLFile_20261023_210903968.xml)
- [Natco Pharma Limited has informed the Exchange regarding the approval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its meeting held on October 23, 2026 |SUBJECT: Allotment of Securities](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210658_Outcome_of_FRC23102026.pdf)
- [Natco Pharma Limited has informed the Exchange regarding Intimation of closure of the Issue period of the Rights Issue of NATCO Pharma Limited (the Company ) |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026132043_RightsClosingIntimation.pdf)
- [Natco Pharma Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026182538_Trading_Window_update_SEs.pdf)
- [Natco Pharma Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "NATCO announces launch of Carboplatin Injection (generic of Paraplatin®) in the U.S. market". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/NATCOPHARM_19102026141928_PressRelease.pdf)
- [Natco Pharma Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/NATCOPHARM_16102026165735_74_5_letter.pdf)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 49.39 | PUBLIC_VAL: 50.61 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 16-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1740079_16102026045222_WEB.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹798.72
- Risk regime: Higher Price Risk

### Support levels
- 804.66484375
- 778.8296875000001
- 757.05

### Resistance levels
- 862.6578857421875
- 883.8671875
- 918.3875

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +1.31% |
| return_10 | +1.91% |
| return_1m | -2.02% |
| return_1y | +0.81% |
| return_20 | +1.46% |
| return_3m | -11.56% |
| return_5 | +3.14% |
| return_6m | -29.83% |
| return_since_start | -42.25% |
| return_ytd | -9.14% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -46.58% |
| annualized_volatility | +38.98% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Declines Sharply Year-Over-Year; Profitability Metrics Show Divergent Sequential Movements

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

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.

## Profitability and Tax

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.

## Expenses and Finance Costs

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%).

## Other Comprehensive Income

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.

## Management Commentary

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.

## Key Takeaway

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.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +49.39%
- FII holding: +15.99%
- DII holding: +6.16%
- Mutual fund holding: +2.25%
- Retail holding: +20.64%
- Promoter pledged: +0.00%

### Major reported shareholders

- V C NANNAPANENI — +15.66%
- TIME CAP PHARMA LABS PRIVATE LIMITED — +9.59% (Bodies Corporate)
- VENKATA SATYA SWATHI KANTAMANI — +8.90%
- NATSOFT INFORMATION SYSTEMS PVT LTD — +8.81% (Bodies Corporate)
- BELGRAVE INVESTMENT FUND — +2.31%
- Vistra ITCL India Limited                                          A/c Neelima Nannapaneni Trust — +2.28% (Trusts)
- LIFE INSURANCE CORPORATION OF INDIA — +2.24%
- DURGA DEVI NANNAPANENI — +1.95%
- TATA MUTUAL FUND- TATA VALUE FUND — +1.03%
- AKASH BHANSHALI — +1.01%

## Official filings

- 2026-11-06 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_1299_WebXMLFile_20261106_162146548.xml)
- 2026-11-06 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_06112026162736_ConcallIntimationtoSE06112026.pdf)
- 2026-10-29 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_29102026171312_PaperPublications_BasisOfAllotment.pdf)
- 2026-10-29 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_1299_WebXMLFile_20261029_171627555.xml)
- 2026-10-23 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210034_Outcome_of_FRC23102026.pdf)
- 2026-10-23 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_1299_WebXMLFile_20261023_210903968.xml)
- 2026-10-23 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_23102026210658_Outcome_of_FRC23102026.pdf)
- 2026-10-22 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026132043_RightsClosingIntimation.pdf)
- 2026-10-22 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_22102026182538_Trading_Window_update_SEs.pdf)
- 2026-10-19 — Press Release: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_19102026141928_PressRelease.pdf)
- 2026-10-16 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_16102026165735_74_5_letter.pdf)
- 2026-10-16 — Shareholding Disclosure: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1740079_16102026045222_WEB.xml)
- 2026-10-15 — Regulatory Filing: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Disclosure1_10152026122650.zip)
- 2026-10-07 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_07102026182719_PaperPublicationsRights.pdf)
- 2026-09-30 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_30092026123847_43rd_AGM_Proceedings_30092026.pdf)
- 2026-09-30 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_30092026172416_43AGMvotingResults_30092026.pdf)
- 2026-09-30 — Regulatory Filing: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/RESULT_VOTING_1731265_30092026052529_WEB.xml)
- 2026-09-30 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_30092026173434_Trading_Window_ClosureSE_Intimation.pdf)
- 2026-09-30 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_1299_WebXMLFile_20260930_173548291.xml)
- 2026-09-28 — Press Release: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_28092026145628_LODR_Disclosure_eGenesis28092026.pdf)
- 2026-09-28 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1299_WebXMLFile_20260928_151619766.xml)
- 2026-09-28 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_28092026205152_Outcome_FundRaising_Committee_Meeting_28092026.pdf)
- 2026-09-25 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_25092026112301_RecordDateIntimation.pdf)
- 2026-09-25 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_25092026111109_OutcomeofBM_25092026.pdf)
- 2026-09-25 — Generic Announcement: Natco Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NATCOPHARM_25092026112140_OutcomeofBM_25092026.pdf)

## News and market events

- 2026-10-24 — The Hindu: **What is the controversy over the spinal muscular atrophy drug in Keralam? Explained** — Kerala’s SMA drug switch to a cheaper generic sparks debate over safety, efficacy, and labeling intrigue among parents and lawmakers. — [Source](https://www.thehindu.com/sci-tech/health/what-is-the-controversy-over-the-spinal-muscular-atrophy-drug-in-kerala-explained/article71619503.ece)
- 2026-10-22 — Times of India: **Natco’s generic SMA drug approved; ‘clinical trial’ labels trigger Kerala row** — NEW DELHI: Days after a controversy erupted in Kerala over Natco Pharma’s generic drug for spinal muscular atrophy (SMA), regulatory clarifications — [Source](https://timesofindia.indiatimes.com/india/natcos-generic-sma-drug-approved-clinical-trial-labels-trigger-kerala-row/articleshow/135121465.cms)
- 2026-10-19 — The Hindu: **Natco Pharma launches generic cancer drug Carboplatin in US** — The launch helps address a critical shortage of the product in the US market, says the company — [Source](https://www.thehindubusinessline.com/companies/natco-pharma-launches-generic-cancer-drug-carboplatin-in-us/article71602827.ece)
- 2026-10-19 — The Hindu: **Sensex today | Stock Market Highlights: Sensex, Nifty close over 1% lower; private bank, IT stocks push markets lower** — Sensex, Nifty, Share Prices : Markets closed over 1 per cent lower on Monday as losses in private banks and IT stocks overwhelmed gains in metals and public-sector lenders. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-highlights-19th-october-2026/article71600731.ece)
- 2026-10-19 — Economic Times: **NATCO Pharma subsidiary launches Carboplatin in US market to address shortages** — Indian pharmaceutical company NATCO Pharma annouced the launch of Carboplatin Injection, a generic version of Paraplatin in the US market by its American subsidiary. The subsidiary would collaborate in manufacturing with Chennai-based Tero Labs Pvt Ltd. The launch is aimed at meeting the shortage of the drug. Carboplatin is directed towards the treatment of advanced ovarian carcinoma, including first-line combination therapy and palliative treatment of recurrent disease after prior chemotherapy. — [Source](https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/natco-pharma-subsidiary-launches-carboplatin-in-us-market-to-address-shortages/articleshow/135044938.cms)
- 2026-10-19 — CNBC-TV18: **Natco Pharma launches Carboplatin injection in US market; shares rise 2%** — According to industry sales data, Carboplatin Injection generated projected revenues of $27.8 million within the United States for the twelve months concluding in June 2026. — [Source](https://www.cnbctv18.com/market/natco-pharma-share-price-launches-carboplatin-injection-in-us-market-ovarian-carcinoma-20014996.htm)
- 2026-10-01 — BUSINESSTODAY: **GIFT Nifty down 110 points; NSE, YES Bank, TechM, Moneyview, Auro Pharma among top stocks in focus** — GIFT Nifty down 110 points; NSE, YES Bank, TechM, Moneyview, Auro Pharma among top stocks in focus — [Source](https://www.businesstoday.in/markets/stocks/story/gift-nifty-down-110-points-nse-yes-bank-techm-moneyview-auro-pharma-among-top-stocks-in-focus-558932-2026-10-01)
- 2026-09-30 — The Hindu: **Kerala HC ribociclib ruling opens route to patented drug access** — Kerala HC’s ribociclib ruling recognises government use of patented medicines under Section 100, opening another possible route to address high prices. — [Source](https://www.thehindubusinessline.com/news/national/kerala-hc-judgment-gives-centre-another-route-to-tackle-high-priced-patented-medicines/article71528503.ece)
- 2026-09-30 — Mint: **Dividend, bonus, rights issue: Last chance to buy today before record date - IGL, KM Sugar Mills, R Systems | List** — R Systems International Limited leads with the highest dividend payout, announcing ₹8 interim dividend for FY26. Maestro Electronics sets October 1 as the record date for a 1:1 bonus issue. Investors must own stocks by October 1 to qualify for rights issue and spin-off actions. — [Source](https://www.livemint.com/market/stock-market-news/dividend-bonus-issue-rights-issue-last-chance-to-buy-today-indraprastha-gas-km-sugar-mills-r-systems-international-11790739278520.html)
- 2026-09-29 — Mint: **Mint Explainer | Can the government make life-saving drugs cheaper? | Today News** — A Kerala high court order opens a legal route for the government to make expensive drugs available to patients on a non-commercial basis. — [Source](https://www.livemint.com/news/mint-explainer-can-the-government-make-lifesaving-drugs-cheaper-11790672713691.html)
- 2026-09-29 — MONEYCONTROL: **Natco Pharma raises eGenesis investment to $16.7 million, total bet to hit $24.7 million** — Natco Pharma eGenesis investment, Natco Pharma latest news, eGenesis investment, Natco Pharma US biotech investment, Natco Pharma $16.7 million investment, eGenesis xenotransplantation, pig to human organ transplant, Natco Pharma shares, Natco Pharma investment 2026, eGenesis pig kidney transplant — [Source](https://www.moneycontrol.com/news/business/tco-pharma-raises-egenesis-investment-to-16-7-million-total-bet-to-hit-24-7-million-14040545.html)
- 2026-09-29 — The Hindu: **Sensex today | Stock Market Live Updates: Stock to buy today: Parag Milk Foods (₹275) – BUY** — Sensex, Nifty, Share Prices Live: The short-term outlook for Parag Milk Foods is bullish. The stock began the week on a positive note, rising over 2 per cent on Monday. This rise followed support from the 21-Day Moving Average (DMA), currently at ₹261 — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-29-september-2026/article71520150.ece)
- 2026-09-29 — The Hindu: **Buzzing stocks: Tata Group, Anupam Rasayan, HCLSoftware, IRFC, NCC, Pidilite and others in focus** — Corporate restructuring, strategic acquisitions, new partnerships, major project orders, fleet expansion and renewable-energy capacity additions marked a busy day of announcements from Indian companies — [Source](https://www.thehindubusinessline.com/markets/buzzing-stocks-tata-group-anupam-rasayan-hclsoftware-irfc-ncc-pidilite-and-others-in-focus/article71522304.ece)
- 2026-09-29 — The Hindu: **Natco Pharma raises eGenesis investment to $16.70 million** — Natco Pharma will raise its proposed investment in US biotech firm eGenesis to $16.70 million, taking its total investment to $24.70 million. — [Source](https://www.thehindubusinessline.com/companies/natco-pharma-raises-proposed-investment-in-egenesis-to-1670-million/article71522277.ece)
- 2026-09-28 — The Hindu: **Natco Pharma to enhance total investment in eGenesis to $25 million** — Natco Pharma raises total eGenesis investment to $24.7M via Canada and USA units, fueling pig organ transplant research and trials. — [Source](https://www.thehindu.com/business/Industry/natco-pharma-to-enhance-total-investment-in-egenesis-to-25-million/article71519945.ece)
- 2026-09-28 — CNBC-TV18: **Natco Pharma raises eGenesis investment to $16.7 million, backs gene-edited organ research** — Natco Pharma has raised its investment in US biotech eGenesis to $16.7 million from $14 million, as it backs research aimed at using gene-edited pig organs for human transplants. — [Source](https://www.cnbctv18.com/market/natco-pharma-share-price-egenesis-raises-investment-usd-16-7-million-20000104.htm)
- 2026-09-27 — CNBC-TV18: **Six companies set to see record dates for corporate actions this week; Details here** — Aastha Spintex and Saraswati Saree Depot, both recent listings, have nearly halved from their issue price, while R Systems International shares are also down over 40% this year. All three are set to see record dates for their respective corporate actions this week. — [Source](https://www.cnbctv18.com/market/record-dates-this-week-natco-pharma-aastha-igl-sail-natco-saraswati-r-systems-share-price-dividend-bonus-rights-issue-19999541.htm)
- 2026-09-25 — Times of India: **Natco Pharma to raise ₹1,279 crore via rights issue | Hyderabad News - The Times of India** — Natco Pharma approves ₹1,279.35 crore rights issue at ₹750/share; record date Oct 1, 2026. Issue opens Oct 12, closes Oct 22; ratio 2:21. — [Source](https://timesofindia.indiatimes.com/city/hyderabad/natco-pharma-to-raise-1279-crore-via-rights-issue/articleshow/134488544.cms)
- 2026-09-25 — The Hindu: **Natco Pharma board approves rights issue to raise up to ₹1,279 crore** — Drug maker Natco Pharma on Friday said its board of directors has approved the issuance of equity shares through a rights issue to raise up to ₹1,279.35 crore. — [Source](https://www.thehindubusinessline.com/companies/natco-pharma-board-approves-rights-issue-to-raise-up-to-1279-crore/article71507862.ece)
- 2026-09-25 — CNBC-TV18: **Natco Pharma approves ₹1,279 crore rights issue - Check dates, price, entitlement ratio and more** — Shareholders of Natco Pharma will be eligible to avail two rights shares for every 21 shares held as on the record date. — [Source](https://www.cnbctv18.com/market/natco-pharma-share-price-rights-issue-opening-closing-date-discount-entitlement-ratio-record-date-19998421.htm)
- 2026-09-16 — Mint: **Domestic pharma market sustains growth momentum, but margins remain key** — 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. — [Source](https://www.livemint.com/market/mark-to-market/indian-pharma-market-ipm-pharma-stocks-domestic-pharma-dr-reddy-s-laboratories-sun-pharma-ajanta-pharma-glenmark-11789538290089.html)
- 2026-08-25 — The Hindu: **Natco Pharma invests $14mn in biotech firm eGenesis; total investment at $22mn** — Natco Pharma invests $14 million in eGenesis, raising total funding to $22 million for innovative organ transplantation solutions. — [Source](https://www.thehindu.com/business/industry/natco-pharma-invests-14mn-in-biotech-firm-egenesis-total-investment-at-22mn/article71388835.ece)
- 2026-08-24 — BUSINESS: **Stock Alert: Caplin Point Lab, Natco pharma, Federal Bank, B. R. Goyal Infra** — Shares of Steel Authority of India (SAIL) barred from fresh F&O positions on 24 August 2026. — [Source](https://www.business-standard.com/markets/capital-market-news/stock-alert-caplin-point-lab-natco-pharma-federal-bank-b-r-goyal-infra-126082400105_1.html)
- 2026-08-24 — The Hindu: **Symbiotec Pharmalab IPO opens today: Price, dates, lot size and key details** — What brokerage say on the IPO? — [Source](https://www.thehindubusinessline.com/markets/symbiotec-pharmalab-ipo-opens-today-price-dates-lot-size-and-key-details/article71381357.ece)
- 2026-08-24 — Economic Times: **Stocks in news: Reliance Industries, Bank of Baroda, Power Grid, NATCO Pharma and JSW Infra** — 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... — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-reliance-industries-bank-of-baroda-power-grid-natco-pharma-and-jsw-infra/articleshow/133444199.cms)

## Business profile

**Strategic vision:** Develops, manufactures, and markets pharmaceutical formulations and APIs.

### Business segments
- **Pharmaceutical Formulations:** This segment encompasses the development and sale of finished dosage forms for various therapeutic areas, particularly in niche markets such as oncology.
- **Active Pharmaceutical Ingredients (APIs):** NATCO Pharma develops and manufactures Active Pharmaceutical Ingredients, with expertise in complex chemistry and long synthesis processes, particularly in oncology APIs and specialty products.
- **Crop Health Sciences:** Through this segment, NATCO Pharma provides agrochemicals and biological pest management solutions, addressing insect, disease, and weed management for various crops.

### Competitive strengths
- Vertically integrated structure
- Expertise in complex generics and niche molecules
- In-house research and development capabilities
- State-of-the-art manufacturing units

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/natcopharm
Markdown representation: https://faxioms.com/stocks/natcopharm?render=md