NOVARTIND
Novartis India share price & financials
- Price
- ₹1,388.9
- Market cap
- ₹5.9k Cr
- Sector
- Healthcare
What Novartis India Limited does
Novartis India Limited is the Indian listed arm of Swiss pharmaceutical major Novartis, engaged in marketing and distributing branded prescription medicines to hospitals, doctors and retail pharmacies across India. Its portfolio spans four segments — Transplant, Established Medicines, Neurosciences and Oncology — comprising 24 brands. For its legacy Established Medicines brands (Voveran, Calcium range, Methergine), the company operates through a market-access partnership with Dr. Reddy's Laboratories, which commercialises these products leveraging its own distribution scale.
Segments
- Transplant
- Established Medicines
- Neurosciences
- Oncology
- Reported operating segments (therapeutic areas)
- 4 (Transplant, Established Medicines, Neurosciences, Oncology)
- Brands across therapeutic areas
- 24
- Healthcare professionals reached (Established Medicines footprint)
- 113,000
- Retail outlets reached (Established Medicines footprint)
- 80,000
- Hospitals & medical colleges partnered (Transplant awareness/education)
- 400+
- Transplant patients supported via Certican/Simulect (2024)
- 2,400+
Quarterly results
Q1 FY27: revenue up 18.2%, net profit up 14.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 87 | 93 | 84 | 88 | 90 +3% | 86 −8% | 91 +8% | 104 +18% |
| EBITDA | 18 | 26 | 24 | 27 | 24 +33% | 22 −15% | 21 −12% | 35 +30% |
| Net profit | 20 | 25 | 29 | 28 | 24 +20% | 16 −36% | 25 −14% | 32 +14% |
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 +255.7% 1Y
1Y: ₹672.25 on 25 Oct 2023 → ₹2,391.3. High ₹2,428.2 (10 Sept 2026), low ₹672.25 (25 Oct 2023).
Financials, as filed
Revenue fell 2.2% a year over 3 years, FY23 to FY26. Operating margin widened to 26.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹379 Cr | ₹336 Cr | ₹356 Cr | ₹355 Cr |
| Operating profit | ₹65 Cr | ₹65 Cr | ₹92 Cr | ₹94 Cr |
| Operating margin | 17.2% | 19.3% | 25.8% | 26.5% |
| Interest | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹1 Cr |
| Depreciation | ₹5 Cr | ₹3 Cr | ₹4 Cr | ₹2 Cr |
| Net profit | ₹103 Cr | ₹86 Cr | ₹100 Cr | ₹93 Cr |
| Net margin | 27.2% | 25.6% | 28.1% | 26.2% |
| Cash from operations | ₹45 Cr | ₹113 Cr | ₹75 Cr | ₹47 Cr |
| Free cash flow | ₹45 Cr | ₹113 Cr | ₹75 Cr | ₹46 Cr |
| ROCE | 15.0% | 16.0% | 17.0% | 16.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Reserves | ₹699 Cr | ₹679 Cr | ₹763 Cr | ₹732 Cr | ₹763 Cr | ₹805 Cr |
| Borrowings | ₹62 Cr | ₹24 Cr | ₹22 Cr | ₹7 Cr | ₹4 Cr | ₹3 Cr |
| Other liabilities | ₹229 Cr | ₹242 Cr | ₹186 Cr | ₹173 Cr | ₹153 Cr | ₹157 Cr |
| Total liabilities | ₹1.0k Cr | ₹958 Cr | ₹983 Cr | ₹925 Cr | ₹932 Cr | ₹978 Cr |
| Fixed assets | ₹64 Cr | ₹24 Cr | ₹19 Cr | ₹7 Cr | ₹4 Cr | ₹3 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹938 Cr | ₹934 Cr | ₹964 Cr | ₹918 Cr | ₹928 Cr | ₹975 Cr |
| Total assets | ₹1.0k Cr | ₹958 Cr | ₹983 Cr | ₹925 Cr | ₹932 Cr | ₹978 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 Jul 2026
Since Jun 2025, DIIs added +0.86 pp while the public trimmed −0.81 pp. The shareholder count shrank 6% to 36,706.
- Promoters
- 70.7%
- FIIs
- 0.1%
- DIIs
- 1.4%
- Public
- 27.8%
Since Jun 2025
- DIIs +0.86 pp
- Public −0.81 pp
- FIIs −0.04 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Dec '23: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Mar '24: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Jun '24: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Sep '24: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Dec '24: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Mar '25: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Jun '25: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Sep '25: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Dec '25: Promoters 70.7%, FIIs 0.2%, DIIs 0.6%, Public 28.5%.Mar '26: Promoters 70.7%, FIIs 0.2%, DIIs 0.5%, Public 28.6%.Jun '26: Promoters 70.7%, FIIs 0.2%, DIIs 1.4%, Public 27.8%.Jul '26: Promoters 70.7%, FIIs 0.1%, DIIs 1.4%, Public 27.8%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Waverise Investments Limited newly disclosed 56.45% held
- Chryscapital Fund X newly disclosed 10.32% held
- Two Infinity Partners newly disclosed 3.91% held
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 Jul 2026 filing
Every holder of Novartis India Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Waverise Investments Limited | 56.45% | newly disclosed |
| Chryscapital Fund X | 10.32% | newly disclosed |
| Two Infinity Partners | 3.91% | newly disclosed |
| Atul Limited | 1.52% | unchanged |
| Novartis Ag | — | 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.
Mutual funds in NOVARTIND
Filings to Jul 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹18 Cr
- 2 schemes
- Biggest holder
- HDFC Pharma and Healthcare Fund
- ₹15 Cr · 0.5% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Pharma and Healthcare Fund HDFC Mutual Fund | ₹15 Cr | held | Apr '26 |
| HDFC MNC Fund HDFC Mutual Fund | ₹3 Cr | held | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- -5%
- vs est. average cost
- Held by funds
- ₹18 Cr
- 2 schemes · ≈ 0.27% of the company
- Biggest holder
- HDFC Pharma and Healthcare Fund
- ₹15 Cr · 0.5% of that fund
Shares held by these funds +466%
Apr '26 1.16 L shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹2391, this stock must grow earnings at 38% every year for 7 years. Our analysis caps realistic growth at ~-3%. At that growth it is worth ₹284 — downside of 88%.
- Growth the price implies
- 37.9% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -3.3% a year
- net profit, FY23–FY26 · EPS -3.4%
- The gap
- 0.4 pp
- -88% downside if it only repeats history
Learn to analyse Novartis India Limited
Guides on how to read this kind of business and the numbers that matter.