JAGSNPHARM

Jagsonpal Pharmaceuticals share price & financials

Price
₹212.28
Market cap
₹1.6k Cr
Sector
Healthcare
Calls analysed
6
Latest concall · Q1 FY27 · call held 30 Jul 2026

Jagsonpal Pharmaceuticals Limited Q1 FY27

Revenue from Operations ₹82 cr +9%Operating EBITDA ₹19 cr +21%Operating EBITDA Margin 23.17% PAT ₹13 cr +22%

What went well

  • Q1 sales grew 9% YoY, translating into 21% operating EBITDA growth and 22% net profit growth.
  • Operating EBITDA margins expanded by 240 bps to over 23%, and net profit margins improved by 176 bps to 16%.
  • Successfully acquired an 85% stake in Aequitas Healthcare for ₹20.8 crores, providing entry into the hospital segment and targeting ₹10 crores EBITDA by year two.

What to watch

  • Reported sales growth of 9% was lower than the Pharmarack industry growth of 18.9%, attributed to primary vs. secondary sales data differences.
  • Aequitas Healthcare's business model in hospitals leads to lower gross margins and a longer working capital cycle compared to Jagsonpal's core business.
Read the full call →

What Jagsonpal Pharmaceuticals Limited does

Jagsonpal Pharmaceuticals is an India-focused branded pharmaceutical company that markets niche, sub-chronic prescription and OTC brands in Gynaecology, Orthopaedics, Dermatology and Paediatrics/Child-care. It runs an asset-light model, outsourcing manufacturing to WHO-GMP and ISO 9001:2015 certified contract manufacturers (CMOs) and R&D to CDMO partners, while it focuses on brand-building, doctor engagement and distribution. Its brands are pushed through a field force of medical representatives calling on gynaecologists, orthopaedists, paediatricians and dermatologists, backed by a pan-India distributor, stockist and stocking-point network. In 2024 it acquired Yash Pharma's India and Bhutan business, adding brands in Dermatology and Paediatrics and widening its geographic and doctor-reach footprint.

Segments

  • Gynaecology
  • Orthopaedics
  • Dermatology
  • Paediatrics / Child-care
Brand portfolio
33+ established brands, including 20+ ranked Top 5 in their molecule category
Products
75+
Core therapy areas
Gynaecology, Orthopaedics, Dermatology, Paediatrics/Child-care
Medical representative field force
~1,000
Geographic reach
4,000+ towns and cities across India
Distributor network
1,200+ distributors
Founded 1964Headquarters Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 2 delivered 3 missed 9 open
  • Capital Allocation Strategy delivered said Q1 FY26 Promised: If cash is not used for inorganic strategy, it will be returned to shareholders. Q1 FY27: This promise pertained to FY26 and was concluded with an 'achieved' verdict. The company has since completed the buyback and made an acquisition.
  • Full Year Revenue Growth missed said Q1 FY26 Promised: Overall guidance of 15% for the year. Q1 FY27: This promise pertained to FY26 and was concluded with a 'missed' verdict. No new information in this quarter.
  • Forward Revenue Growth at risk said Q3 FY26 Promised: 1.5x IPM growth (translating to 12-15%) for FY27 and beyond. Q1 FY27: Company's reported primary sales growth was 9% YoY. Management noted the relevant industry benchmark (IPM) grew 11.6%. As 9% is less than 1.5x of 11.6% (17.4%), the company is not currently meeting this target on a primary sales basis, despite outperformance on a secondary sales (Pharmarack) basis.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 7.9%, net profit up 18.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue75 74 59 76 74 −1%73 −1%64 +8%82 +8%
EBITDA16 16 9 14 16 +0%16 +0%11 +22%17 +21%
Net profit11 32 7 11 13 +18%11 −66%9 +29%13 +18%
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 −5.0% 1Y

₹160₹180₹200₹220₹240Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 22 Jan 2026Q4 FY26 — 28 Apr 2026Q1 FY27 — 30 Jul 2026

1Y: ₹245.04 on 10 Sept 2025 → ₹232.89. High ₹250.1 (15 Sept 2025), low ₹161.07 (29 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+2.4%
30 Jul
Q4 FY26
+0.9%
28 Apr
Q3 FY26
+0.5%
22 Jan

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 6.5% a year over 3 years, FY23 to FY26. Operating margin widened to 19.9%.

Year endingFY23FY24FY25FY26
Revenue₹237 Cr₹208 Cr₹269 Cr₹287 Cr
Operating profit₹34 Cr₹23 Cr₹51 Cr₹57 Cr
Operating margin14.5%11.1%19.0%19.9%
Interest₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹0 Cr₹0 Cr₹7 Cr₹8 Cr
Net profit₹27 Cr₹22 Cr₹55 Cr₹44 Cr
Net margin11.2%10.6%20.4%15.3%
ROCE25.0%17.0%23.0%23.0%
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₹13 Cr₹13 Cr₹13 Cr₹13 Cr₹13 Cr₹13 Cr
Reserves₹109 Cr₹120 Cr₹146 Cr₹174 Cr₹240 Cr₹263 Cr
Borrowings₹7 Cr₹0 Cr₹6 Cr₹9 Cr₹9 Cr₹8 Cr
Other liabilities₹35 Cr₹31 Cr₹30 Cr₹21 Cr₹37 Cr₹32 Cr
Total liabilities₹164 Cr₹164 Cr₹195 Cr₹217 Cr₹299 Cr₹317 Cr
Fixed assets₹26 Cr₹23 Cr₹24 Cr₹9 Cr₹90 Cr₹85 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹15 Cr₹51 Cr₹1 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹123 Cr₹91 Cr₹170 Cr₹208 Cr₹209 Cr₹231 Cr
Total assets₹164 Cr₹164 Cr₹195 Cr₹217 Cr₹299 Cr₹317 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.

What the price assumes

Expensive

To justify its price of ₹233, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~17%. At that growth it is worth ₹160 — downside of 31%.

Growth the price implies
23.8% a year
for 7 years, fading to 4%
It has actually compounded at
18.3% a year
net profit, FY23–FY26 · EPS 16.6%
The gap
0.1 pp
-31% downside if it only repeats history
Price today ₹232.89 Value at the reference growth ₹160.33

Change the assumptions yourself →

All earnings calls (4)

Read the Q1 FY27 call →

Learn to analyse Jagsonpal Pharmaceuticals Limited

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