SENORES
Senores Pharmaceuticals share price & financials
- Price
- ₹1,405.1
- Market cap
- ₹6.3k Cr
- Sector
- Healthcare
- Calls analysed
- 6
Senores Pharmaceuticals Limited Q1 FY27
What went well
- Consolidated revenue for Q1 FY27 grew 36% Y-o-Y to INR180 crores.
- Consolidated EBITDA for Q1 FY27 grew 87% Y-o-Y to INR54 crores, with margins expanding by 810 bps to 30%.
- Profit after tax for Q1 FY27 grew 56% Y-o-Y to INR31 crores.
What to watch
- Emerging market EBITDA margins declined sequentially from 20% in Q4 FY26 to 14% in Q1 FY27, though management expects 18-20% for the full year.
- India branded generics segment showed a 2% de-growth this quarter, with management shifting focus to profitability over sales.
What Senores Pharmaceuticals Limited does
Senores Pharmaceuticals identifies, develops and manufactures specialty and complex generic pharmaceutical products, earning through long-term marketing/distribution tie-ups and profit-sharing in Regulated Markets (US, Canada, UK), direct product registrations across 40+ Emerging Markets, contract development and manufacturing (CDMO/CMO) for global pharma customers, and domestic supply of critical-care injectables and APIs. It owns manufacturing facilities in Atlanta (US) and Gujarat (India) spanning oral solids, injectables, oral liquids, ORS and APIs, and grows both organically (in-house ANDA filings) and via acquisitions/joint ventures (Apnar Pharma, Zoraya Pharmaceuticals, Amerisyn JV) that add regulated-market manufacturing and market access.
Segments
- Regulated Markets
- Emerging Markets
- Branded Generics
- API / Others
- Manufacturing facilities
- 1 USFDA-approved facility in Atlanta, US; 2 formulation facilities in Gujarat, India (1 USFDA-approved); 2 API manufacturing facilities in Gujarat, India
- Approved ANDAs (Regulated Markets)
- 51, covering 151 strengths
- Commercialized ANDAs
- 21, covering 46 strengths
- ANDAs under development pipeline
- 27, covering 66 strengths
- Countries with marketed/registered products (Emerging Markets)
- 40+ countries
- Emerging Markets product registrations / applications filed
- 478 product registrations; 904 applications filed
Guidance record · Q1 FY27
what the last two calls moved 31 tracked 7 delivered 6 missed 18 open- Apnar Pharma Revenue (FY27) went quiet said Q3 FY26 Promised: INR 120 crores to INR 150 crores Q1 FY27: The revised target of INR 80-100 crores for FY27 was not reiterated. Management discussed commercializing 6 products and producing 30 million units from the facility, but did not provide a revenue update against the guidance.
- Launch of 28 approved ANDAs delayed said Q3 FY26 Promised: 28 ANDAs launched within next 6-8 quarters Q1 FY27: The target was reframed to '35 ANDAs planned for commercialization over the next 18 to 20 months'. This represents a smaller number of products over a longer timeframe compared to the Q4 revised guidance.
- FY26 Top line growth delivered said Q1 FY26 Promised: 50% growth in top line for FY26 over FY25 Q4 FY26: FY26 revenue grew by 62% YoY to INR 664 crores, surpassing the 50% growth target.
All 31 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 30.4%, net profit up 42.9% 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 | 101 | 103 | 114 | 138 | 162 +60% | 171 +66% | 175 +54% | 180 +30% |
| EBITDA | 23 | 26 | 19 | 34 | 50 +117% | 50 +92% | 47 +147% | 54 +59% |
| Net profit | 13 | 16 | 18 | 21 | 30 +131% | 34 +113% | 37 +106% | 30 +43% |
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 +104.1% 1Y
1Y: ₹718.9 on 10 Sept 2025 → ₹1,467.3. High ₹1,550.9 (19 Aug 2026), low ₹673.6 (26 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- +1.8%
- 27 Jul
- Q4 FY26
- −2.0%
- 14 May
- Q3 FY26
- −2.7%
- 20 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 62.3% a year over 1 year, FY25 to FY26. Operating margin widened to 28.0%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹398 Cr | ₹646 Cr |
| Operating profit | ₹89 Cr | ₹181 Cr |
| Operating margin | 22.4% | 28.0% |
| Interest | ₹21 Cr | ₹24 Cr |
| Depreciation | ₹17 Cr | ₹31 Cr |
| Net profit | ₹58 Cr | ₹122 Cr |
| Net margin | 14.6% | 18.9% |
| Cash from operations | ₹-46 Cr | ₹62 Cr |
| Free cash flow | ₹-203 Cr | ₹-203 Cr |
| ROCE | 11.0% | 15.0% |
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 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity capital | ₹9 Cr | ₹10 Cr | ₹31 Cr | ₹46 Cr | ₹46 Cr |
| Reserves | ₹28 Cr | ₹36 Cr | ₹174 Cr | ₹768 Cr | ₹888 Cr |
| Borrowings | ₹15 Cr | ₹63 Cr | ₹258 Cr | ₹241 Cr | ₹342 Cr |
| Other liabilities | ₹8 Cr | ₹23 Cr | ₹160 Cr | ₹233 Cr | ₹328 Cr |
| Total liabilities | ₹59 Cr | ₹131 Cr | ₹622 Cr | ₹1.3k Cr | ₹1.6k Cr |
| Fixed assets | ₹7 Cr | ₹27 Cr | ₹235 Cr | ₹540 Cr | ₹755 Cr |
| Capital work in progress | ₹8 Cr | ₹34 Cr | ₹97 Cr | ₹16 Cr | ₹17 Cr |
| Investments | ₹15 Cr | ₹16 Cr | ₹0 Cr | ₹2 Cr | ₹4 Cr |
| Other assets | ₹29 Cr | ₹53 Cr | ₹289 Cr | ₹731 Cr | ₹827 Cr |
| Total assets | ₹59 Cr | ₹131 Cr | ₹622 Cr | ₹1.3k Cr | ₹1.6k 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 −3.25 pp while FIIs added +2.96 pp.
- Promoters
- 45.8%
- FIIs
- 6.6%
- DIIs
- 9.8%
- Public
- 37.8%
Since Jun 2025
- Public −3.25 pp
- FIIs +2.96 pp
- DIIs +0.26 pp
How it drifted, 7 quarters
Over this window FIIs went from 4.3% to 6.6% — +2.4 pp.
Ownership split by quarter, oldest first. Dec '24: Promoters 45.8%, FIIs 4.3%, DIIs 11.8%, Public 38.2%.Mar '25: Promoters 45.8%, FIIs 4.2%, DIIs 9.7%, Public 40.4%.Jun '25: Promoters 45.8%, FIIs 3.7%, DIIs 9.5%, Public 41.0%.Sep '25: Promoters 45.8%, FIIs 4.3%, DIIs 8.6%, Public 41.3%.Dec '25: Promoters 45.8%, FIIs 3.4%, DIIs 9.3%, Public 41.5%.Mar '26: Promoters 45.8%, FIIs 3.6%, DIIs 9.6%, Public 40.9%.Jun '26: Promoters 45.8%, FIIs 6.6%, DIIs 9.8%, Public 37.8%.
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.
- HSBC Mutual Fund - HSBC Small Cap Fund Mutual fund newly disclosed 3.44% held
- Bajaj Finserv Small Cap Fund Mutual fund newly disclosed 1.19% held
- Astorne Capital Vcc - Arven FPI fund +0.42 pp 1.95% held
- Espee Global Clinical Trial Services Private Limited newly disclosed 0.00% held
- Relius Pharma S.R.L. newly disclosed 0.00% held
- Relius Pharmaceuticals LTDA newly disclosed 0.00% held
- Espee Global Holdings LLC newly disclosed 0.00% held
- Espee Biopharma & Finechem LLC newly disclosed 0.00% held
The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Senores Pharmaceuticals Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Swapnil Jatin Shah | 7.72% | unchanged |
| Ashokbhai Vijaysinh Barot | 7.48% | unchanged |
| Remus Pharmaceuticals Limited | 7.08% | unchanged |
| Renosen Pharmaceuticals Private Limited | 5.90% | unchanged |
| Anar Swapnil Shah | 4.98% | unchanged |
| Aviraj Overseas LLC | 4.12% | unchanged |
| HSBC Mutual Fund - HSBC Small Cap Fund Mutual fund | 3.44% | newly disclosed |
| Sangeeta Mukur Barot | 2.26% | unchanged |
| Astorne Capital Vcc - Arven FPI fund | 1.95% | +0.42 pp |
| Manoj Prakash Sanghvi | 1.86% | unchanged |
| Ratnamani Marketing Private Limited | 1.82% | unchanged |
| Aditya Birla Sun Life Insurance Company Limited Insurer | 1.62% | −1.34 pp |
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
AttractiveTo justify its price of ₹1467, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~118%. At that growth it is worth ₹37453 — upside of 2452%.
- Growth the price implies
- 34.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 118.4% a year
- net profit, FY25–FY26
- The gap
- -0.8 pp
- 2452% downside if it only repeats history
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Senores Pharmaceuticals Limited
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