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Natural Capsules share price & results

Natural Capsules Limited· Healthcare

Results to
Jun 2026
Latest analysed call
Q4 FY26
Ownership as of
Jun 2026

Bengaluru-based manufacturer of hard capsule shells (gelatin and vegetarian/HPMC) for pharma and nutraceutical companies, now expanding into steroidal API manufacturing via subsidiary Natural Biogenex.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue43.0 ₹ crore−2.8% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin16.0 %+4.4 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit4.0 ₹ crore+60.3% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity-10.72 %−9.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-0.28 %+10.1 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)8.84 %+1.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

3 of 7 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.

Natural Capsules Limited management guidance track record on Inve: 14 targets tracked across analysed earnings calls (3 achieved, 4 missed, 7 open).

TargetOriginal wordingSaidLatest callVerdict
Total Debt PositionMaintain around ₹102 crores
Call transcript, Q4 FY25 · 4 Jun 2025		Q4 FY25Q4 FY26:Management guided for debt to remain around ₹100-110 crores in FY27, implying the FY26 closing level is within this range.
Call transcript, Q4 FY26 · 3 Jun 2026		Achieved
Consolidated Revenue₹260 crores (later clarified as ₹270-280 crores)
Call transcript, Q4 FY25 · 4 Jun 2025		Q4 FY25Q4 FY26:FY26 revenue came in at ₹187.2 crores, significantly missing the revised guidance of ₹225 crores.
Call transcript, Q4 FY26 · 3 Jun 2026		Missed
API Commercial Production Ramp-upMeaningful pickup in sales from end of Q2 FY26
Call transcript, Q4 FY25 · 4 Jun 2025		Q4 FY25Q4 FY26:Commercial API sales commenced in Q4 FY26, missing the revised Q3 timeline.
Call transcript, Q4 FY26 · 3 Jun 2026		Delayed

Source: Inve Guidance Tracker for Natural Capsules Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Natural Capsules Limited's 14 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 11 more targets are in the full ledger.

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Price

₹143.57 +2.37% · +₹3.33

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −35.3% 1Y

₹140₹160₹180₹200₹220Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 17 Nov 2025Q4 FY26 — 3 Jun 2026

1Y: ₹221.9 on 24 Oct 2025 → ₹143.57. High ₹226.98 (3 Sept 2026), low ₹140.04 (20 Jul 2026).

Previous close
₹140.24
Market cap
₹172 Cr
52-week range
₹140.04 – ₹226.98
One year
−34.14%
Return on equity (TTM to Jun 2026)
-10.72%

Overview

Symbol
NSE:NATCAPSUQ
Exchange
NSE
Currency
INR

What Natural Capsules Limited does

Based on the company's own presentations, annual report and earnings calls.

Natural Capsules Limited manufactures hard capsule shells — hard gelatin capsules and HPMC (vegetarian) capsules along with specialty variants (shiny, sweet, fast-release, SLS-free, preservative-free, TSE-free) — supplying pharmaceutical and nutraceutical companies domestically and in 28 countries. It pioneered vegetarian capsule manufacturing in India and is the country's second-largest gelatin capsule producer. Through its subsidiary Natural Biogenex Private Limited, it has entered active pharmaceutical ingredient (API) manufacturing, producing steroidal APIs — Prednisolone, Betamethasone, Dexamethasone, Hydrocortisone and their derivative salts — using in-house fermentation and synthesis technology at a new greenfield facility in Tumkur, near Bengaluru.

Segments

  • Capsules
  • API (Active Pharmaceutical Ingredients)
Manufacturing facilities
2 for capsules (Bengaluru & Pondicherry) + 1 for API (Tumkur, near Bengaluru)
Installed capsule capacity
20.25 BCPA (Billion Capsules per Annum) as at FY26, up from 19.50 BCPA in FY25
New HPMC line capacity addition
New HPMC line commissioned in FY26, expanding capacity toward 25 billion capsules/annum, ready for double-zero capsule production
Capacity utilisation
94.21% (FY25)
Export reach
28 countries across 5 continents
Planned API capacity (Tumkur)
Dexamethasone 10 MT, Betamethasone 12 MT, Prednisolone 15 MT
Founded 1993Headquarters Bengaluru, Karnataka, IndiaEmployees 615 (FY26) Company website

How the price took the results

close before → close after

Q4 FY26
−1.3%
3 Jun
Q2 FY26
−5.0%
17 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.

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