IOLCP

IOL Chemicals and Pharmaceuticals share price & financials

Price
₹130.21
Market cap
₹5.0k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 13 Aug 2026

IOL Chemicals and Pharmaceuticals Limited Q1 FY27

Revenue from Operations ₹756 cr +37%EBITDA ₹111 cr +61%EBITDA Margin 14.6% PAT ₹64.5 cr +90%

What went well

  • Revenue from operations of ₹756 crores, up 37% YoY from ₹551 crores in Q1 FY26.
  • EBITDA of ₹111 crores, up 60.7% YoY from ₹69.5 crores in Q1 FY26.
  • EBITDA margin expanded to 14.6% in Q1 FY27 from 12.4% in Q1 FY26.
Read the full call →

What IOL Chemicals and Pharmaceuticals Limited does

IOL Chemicals and Pharmaceuticals manufactures active pharmaceutical ingredients (APIs) and specialty chemicals from its integrated manufacturing complex in Ludhiana, Punjab. It is the world's largest producer of Ibuprofen and the only fully backward-integrated Ibuprofen manufacturer globally, while its non-Ibuprofen API portfolio spans Paracetamol, Metformin, Clopidogrel, Pantoprazole, Fenofibrate and other molecules across therapeutic areas such as anti-diabetic, anti-platelet and anti-hypertensive. Its Specialty Chemicals business produces Ethyl Acetate, Acetic Anhydride, Iso Butyl Benzene and related intermediates, used both captively as inputs for its own API production and sold externally to industries such as flexible packaging, paints, ink, textiles and pesticides. The company serves customers across roughly 80 countries through a mix of regulated and emerging export markets alongside domestic sales.

Segments

  • Pharmaceuticals
  • Specialty Chemicals
Global market position
World's largest producer of Ibuprofen and the only company globally fully backward-integrated for it
Employees
3,000+
Manufacturing footprint
Existing facility spans 180+ acres; expanded with 101 acres purchased on the Chandigarh-Bathinda Highway for a new site
Export reach
Customers across roughly 80 countries
Product portfolio
20 products commercialized, with 9 more in the R&D pipeline
Regulatory filings
14 DMFs with USFDA and 21 CEPs with EDQM
Founded 1986Headquarters 85, Industrial Area 'A', Ludhiana - 141003, Punjab, India Company website

Guidance record · Q1 FY27

what the last two calls moved 19 tracked 3 delivered 3 missed 13 open
  • Capacity Utilization delivered said Q3 FY25 Promised: Hoping for that to increase to around 90% in the next two to three quarters. Q1 FY27: Maintained at 80-95%
  • Export Share revised down said Q4 FY25 Promised: Achieve the export realization or export sale of around 40% to 45% in the next 2 years. Q1 FY27: Q1 actual 28.5%. New FY27 guidance 25-30%, significantly below original 40-45% target.
  • EBITDA Margin missed said Q4 FY25 Promised: We are expecting more than 15% in the current year. Q4 FY26: FY26 actual: 12.4%. Original target >15% missed.

All 19 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 37.0%, net profit up 88.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue526 523 528 552 568 +8%580 +11%619 +17%756 +37%
EBITDA42 47 63 62 57 +36%57 +21%93 +48%104 +68%
Net profit19 21 32 34 30 +58%21 +0%53 +66%64 +88%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +71.1% 1Y

₹100₹150₹200Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 13 Aug 2026

1Y: ₹113.56 on 10 Sept 2025 → ₹194.31. High ₹213.04 (7 Sept 2026), low ₹68.21 (17 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+4.8%
13 Aug
Q4 FY26
−1.8%
28 May
Q3 FY26
−0.9%
12 Feb
Q2 FY26
−0.4%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 1.5% a year over 3 years, FY23 to FY26. Operating margin widened to 11.6%.

Year endingFY23FY24FY25FY26
Revenue₹2.2k Cr₹2.1k Cr₹2.1k Cr₹2.3k Cr
Operating profit₹227 Cr₹231 Cr₹203 Cr₹269 Cr
Operating margin10.2%10.8%9.8%11.6%
Interest₹17 Cr₹15 Cr₹14 Cr₹14 Cr
Depreciation₹46 Cr₹62 Cr₹73 Cr₹80 Cr
Net profit₹140 Cr₹135 Cr₹102 Cr₹138 Cr
Net margin6.3%6.3%4.9%6.0%
Cash from operations₹123 Cr₹290 Cr₹179 Cr₹214 Cr
Free cash flow₹-86 Cr₹18 Cr₹-34 Cr₹44 Cr
ROCE14.0%12.0%9.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹59 Cr₹59 Cr₹59 Cr₹59 Cr₹59 Cr₹59 Cr
Reserves₹1.2k Cr₹1.3k Cr₹1.4k Cr₹1.6k Cr₹1.7k Cr₹1.7k Cr
Borrowings₹3 Cr₹44 Cr₹80 Cr₹33 Cr₹159 Cr₹135 Cr
Other liabilities₹347 Cr₹526 Cr₹434 Cr₹600 Cr₹503 Cr₹653 Cr
Total liabilities₹1.6k Cr₹2.0k Cr₹2.0k Cr₹2.2k Cr₹2.4k Cr₹2.6k Cr
Fixed assets₹512 Cr₹561 Cr₹751 Cr₹933 Cr₹1.1k Cr₹1.2k Cr
Capital work in progress₹48 Cr₹105 Cr₹90 Cr₹101 Cr₹64 Cr₹96 Cr
Investments₹1 Cr₹2 Cr₹20 Cr₹21 Cr₹21 Cr₹21 Cr
Other assets₹1.0k Cr₹1.3k Cr₹1.2k Cr₹1.2k Cr₹1.2k Cr₹1.3k Cr
Total assets₹1.6k Cr₹2.0k Cr₹2.0k Cr₹2.2k Cr₹2.4k Cr₹2.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −12.35 pp while promoters added +9.66 pp. The shareholder count shrank 5% to 1,19,311.

Promoters
62.3%
FIIs
4.9%
DIIs
0.4%
Public
32.4%

Since Jun 2025

  • Public −12.35 pp
  • Promoters +9.66 pp
  • FIIs +2.28 pp

How it drifted, 12 quarters

Over this window the public fell from 49.1% to 32.4% — −16.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 48.2%, FIIs 2.3%, DIIs 0.3%, Public 49.1%.Dec '23: Promoters 48.2%, FIIs 2.2%, DIIs 0.4%, Public 49.3%.Mar '24: Promoters 48.2%, FIIs 1.4%, DIIs 0.3%, Public 50.1%.Jun '24: Promoters 48.2%, FIIs 1.4%, DIIs 0.1%, Public 50.3%.Sep '24: Promoters 48.2%, FIIs 1.6%, DIIs 0.1%, Public 50.1%.Dec '24: Promoters 52.6%, FIIs 1.5%, DIIs 0.1%, Public 45.8%.Mar '25: Promoters 52.6%, FIIs 1.5%, DIIs 0.1%, Public 45.8%.Jun '25: Promoters 52.6%, FIIs 2.6%, DIIs 0.0%, Public 44.8%.Sep '25: Promoters 52.6%, FIIs 2.3%, DIIs 0.1%, Public 45.1%.Dec '25: Promoters 52.6%, FIIs 2.1%, DIIs 0.0%, Public 45.3%.Mar '26: Promoters 57.5%, FIIs 1.7%, DIIs 0.0%, Public 40.8%.Jun '26: Promoters 62.3%, FIIs 4.9%, DIIs 0.4%, Public 32.4%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of IOL Chemicals and Pharmaceuticals Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Nm Merchantiles Limited 21.88%+4.80 pp
Maya Devi Polycot Limited 21.79%unchanged
Ncvi Enterprises Limited 16.58%unchanged
Varender Gupta 2.04%unchanged
Dimple Gupta 0.00%unchanged
Abhiraj Gupta 0.00%unchanged
Vikas Gupta 0.00%unchanged
Varinder Gupta (Huf) 0.00%unchanged
Vikas Gupta (Huf) 0.00%unchanged
Synthorix Trading Limited —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth trap

To justify its price of ₹194, this stock must grow earnings at 23% every year for 7 years. Our analysis caps realistic growth at ~-0%. At that growth it is worth ₹56 — downside of 71%.

Growth the price implies
22.9% a year
for 7 years, fading to 4%
It has actually compounded at
-0.5% a year
net profit, FY23–FY26 · EPS -0.5%
The gap
0.2 pp
-71% downside if it only repeats history
Price today ₹194.31 Value at the reference growth ₹56

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse IOL Chemicals and Pharmaceuticals Limited

Guides on how to read this kind of business and the numbers that matter.