TORNTPHARM
Torrent Pharmaceuticals share price & financials
- Price
- ₹4,763
- Market cap
- ₹1.9L Cr
- Sector
- Healthcare
- Calls analysed
- 7
Torrent Pharmaceuticals Limited Q1 FY27
What went well
- Consolidated revenues grew 55% YoY to INR4,921 crores.
- Operating EBITDA increased 61% YoY to INR1,664 crores, with a margin of 33.8%.
- JB business revenues grew 10% YoY to INR1,201 crores, with an EBITDA margin of 35.3%.
What to watch
- Semaglutide injectable product faced a temporary supply-related issue, leading to loss of sales in July and most of August.
- Germany revenues were down 9% due to supply disruption at a third-party supplier and lower tender off-take.
What Torrent Pharmaceuticals Limited does
Torrent Pharmaceuticals is the flagship pharma company of the Torrent Group, developing, manufacturing and marketing formulations through two core segments: branded generics (India, Brazil and emerging markets) and generics (United States, Germany, UK and other regulated markets). It focuses on chronic and high-burden therapies - cardiovascular, CNS, gastro-intestinal, anti-diabetic, dermatology, pain management and gynaecology - and sells in more than 50 countries. In January 2026 it acquired a controlling stake in J.B. Chemicals & Pharmaceuticals (JB Pharma), lifting the combined entity to 5th rank in the Indian pharmaceutical market.
Segments
- Branded Generics (BGx)
- Generics (Gx)
- Manufacturing facilities
- 8 world-class facilities plus a dedicated R&D centre
- Countries sold in
- 50+
- Employees
- 18,500+ across 12 countries
- Rank in Indian pharma market (combined with JB Pharma)
- 5th largest
- India field force (combined with JB Pharma)
- 9,000+
- Therapy leadership in India
- No.1 in Cardiac; Top 5 in CNS, GI, Pain Management and Dermatology
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 1 delivered 5 missed 12 open- India Field Force (MRs) delivered said Q2 FY25 Promised: Add 100-200 by end of FY25; later revised to 7,000 by end of FY26 Q1 FY27: Promise achieved in FY26. This metric is now superseded by the combined entity's field force tracking post-JB merger.
- Net Debt missed said Q2 FY25 Promised: Net Cash by FY26 Q1 FY27: Original target remains missed. However, Net Debt/EBITDA improved to 2.07x from 2.3x in the previous quarter, showing progress towards the revised deleveraging goal.
- Cost Synergies revised up said Q3 FY26 Promised: ₹400-450 crores over 2-3 years Q1 FY27: Synergies are being realized 'sooner than expected'. The year 1 target of ~₹90 cr is now guided to be 'definitely... above 100' cr. The pace of realization has been revised up.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 54.8%, net profit up 3.3% 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 | 2,889 | 2,809 | 2,959 | 3,178 | 3,302 +14% | 3,303 +18% | 4,197 +42% | 4,921 +55% |
| EBITDA | 939 | 914 | 964 | 1,032 | 1,083 +15% | 1,088 +19% | 1,356 +41% | 1,664 +61% |
| Net profit | 453 | 503 | 498 | 548 | 591 +30% | 635 +26% | 364 −27% | 566 +3% |
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 +38.2% 1Y
1Y: ₹3,591.7 on 10 Sept 2025 → ₹4,965.5. High ₹5,122.8 (31 Jul 2026), low ₹3,514.7 (3 Oct 2025).
How the price took the results
close before → close after
- Q1 FY27
- −0.1%
- 30 Jul
- Q4 FY26
- +0.4%
- 22 May
- Q3 FY26
- +0.0%
- 13 Feb
- Q2 FY26
- +0.7%
- 7 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 13.3% a year over 3 years, FY23 to FY26. Operating margin widened to 32.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹9.6k Cr | ₹10.7k Cr | ₹11.5k Cr | ₹14.0k Cr |
| Operating profit | ₹2.8k Cr | ₹3.4k Cr | ₹3.7k Cr | ₹4.6k Cr |
| Operating margin | 29.5% | 31.4% | 32.3% | 32.6% |
| Interest | ₹333 Cr | ₹354 Cr | ₹252 Cr | ₹385 Cr |
| Depreciation | ₹707 Cr | ₹808 Cr | ₹795 Cr | ₹1.1k Cr |
| Net profit | ₹1.2k Cr | ₹1.7k Cr | ₹1.9k Cr | ₹2.1k Cr |
| Net margin | 12.9% | 15.4% | 16.6% | 15.3% |
| Cash from operations | ₹2.4k Cr | ₹3.3k Cr | ₹2.6k Cr | ₹3.0k Cr |
| Free cash flow | ₹2.0k Cr | ₹3.0k Cr | ₹2.0k Cr | ₹2.4k Cr |
| ROCE | 20.0% | 23.0% | 27.0% | 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 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹85 Cr | ₹85 Cr | ₹169 Cr | ₹169 Cr | ₹169 Cr | ₹169 Cr |
| Reserves | ₹5.8k Cr | ₹5.9k Cr | ₹6.0k Cr | ₹6.7k Cr | ₹8.3k Cr | ₹8.2k Cr |
| Borrowings | ₹4.9k Cr | ₹4.1k Cr | ₹5.4k Cr | ₹4.0k Cr | ₹2.8k Cr | ₹15.0k Cr |
| Other liabilities | ₹3.4k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹3.6k Cr | ₹4.2k Cr | ₹20.2k Cr |
| Total liabilities | ₹14.1k Cr | ₹12.9k Cr | ₹14.6k Cr | ₹14.5k Cr | ₹15.5k Cr | ₹43.6k Cr |
| Fixed assets | ₹7.1k Cr | ₹6.4k Cr | ₹8.1k Cr | ₹8.1k Cr | ₹7.8k Cr | ₹33.2k Cr |
| Capital work in progress | ₹889 Cr | ₹630 Cr | ₹765 Cr | ₹361 Cr | ₹488 Cr | ₹641 Cr |
| Investments | ₹181 Cr | ₹226 Cr | ₹199 Cr | ₹173 Cr | ₹133 Cr | ₹948 Cr |
| Other assets | ₹5.9k Cr | ₹5.6k Cr | ₹5.5k Cr | ₹5.8k Cr | ₹7.1k Cr | ₹8.8k Cr |
| Total assets | ₹14.1k Cr | ₹12.9k Cr | ₹14.6k Cr | ₹14.5k Cr | ₹15.5k Cr | ₹43.6k 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 Jul 2026
Since Jun 2025, promoters trimmed −7.53 pp while DIIs added +4.23 pp. The shareholder count grew 72% to 1,40,599.
- Promoters
- 60.8%
- FIIs
- 18.0%
- DIIs
- 12.8%
- Government
- 0.1%
- Public
- 8.4%
Since Jun 2025
- Promoters −7.53 pp
- DIIs +4.23 pp
- FIIs +1.88 pp
How it drifted, 12 quarters
Over this window promoters fell from 71.3% to 60.8% — −10.5 pp.
Ownership split by quarter, oldest first. Dec '23: Promoters 71.3%, FIIs 14.1%, DIIs 7.1%, Government 0.1%, Public 7.5%.Mar '24: Promoters 71.3%, FIIs 14.1%, DIIs 7.2%, Government 0.1%, Public 7.3%.Jun '24: Promoters 71.3%, FIIs 14.2%, DIIs 7.2%, Government 0.1%, Public 7.3%.Sep '24: Promoters 71.3%, FIIs 14.5%, DIIs 7.0%, Government 0.1%, Public 7.2%.Dec '24: Promoters 68.3%, FIIs 16.2%, DIIs 8.3%, Government 0.1%, Public 7.2%.Mar '25: Promoters 68.3%, FIIs 16.3%, DIIs 8.3%, Government 0.1%, Public 7.0%.Jun '25: Promoters 68.3%, FIIs 16.1%, DIIs 8.5%, Government 0.1%, Public 6.9%.Sep '25: Promoters 68.3%, FIIs 15.9%, DIIs 9.2%, Government 0.1%, Public 6.5%.Dec '25: Promoters 68.3%, FIIs 16.1%, DIIs 9.1%, Government 0.1%, Public 6.4%.Mar '26: Promoters 68.3%, FIIs 16.2%, DIIs 9.0%, Public 6.5%.Jun '26: Promoters 68.3%, FIIs 15.4%, DIIs 9.7%, Government 0.1%, Public 6.4%.Jul '26: Promoters 60.8%, FIIs 18.0%, DIIs 12.8%, Government 0.1%, Public 8.4%.
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.
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Mutual fund newly disclosed 1.28% held
- Kotak Contra Fund Mutual fund newly disclosed 1.18% held
- HDFC Mutual Fund - HDFC Innovation Fund Mutual fund newly disclosed 1.03% held
The same filing shows 2 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 Torrent Pharmaceuticals Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Torrent Investments Limited (Formerly known as Torrent Investments Private Limited) | 60.78% | −7.53 pp |
| NPS Trust Pension / PF | 2.23% | −0.27 pp |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Mutual fund | 1.28% | newly disclosed |
| Kotak Contra Fund Mutual fund | 1.18% | newly disclosed |
| HDFC Mutual Fund - HDFC Innovation Fund Mutual fund | 1.03% | newly disclosed |
| Sapna Samir Mehta | 0.00% | unchanged |
| Jinal Sudhir Mehta | 0.00% | unchanged |
| Varun Sudhir Mehta | 0.00% | unchanged |
| Aman Mehta | 0.00% | unchanged |
| Shaan Mehta | 0.00% | unchanged |
| Mehta Family Trust 4 | 0.00% | unchanged |
| Mehta Family Trust 3 | 0.00% | unchanged |
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 TORNTPHARM
Filings to Aug 2026
2 new, 11 added, 6 trimmed, 0 sold out — net +4.02 L shares (+6.3%).
- Held by funds
- ₹3.4k Cr
- 24 schemes
- Biggest holder
- HDFC Large Cap Fund
- ₹1.6k Cr · 4.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Large Cap Fund HDFC Mutual Fund | ₹1.6k Cr | held | Mar '25 |
| SBI Healthcare Opportunities Fund SBI Mutual Fund | ₹274 Cr | +0.40 L | Aug '21 |
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹262 Cr | +0.17 L | Jun '20 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹256 Cr | held | Jul '26 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹173 Cr | held | Dec '22 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹141 Cr | held | Sep '12 |
| Nippon India Flexi Cap Fund Nippon India Mutual Fund | ₹137 Cr | held | Jul '26 |
| Nippon India Nifty Pharma ETF Nippon India Mutual Fund | ₹129 Cr | +0.04 L | Aug '21 |
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 Aug 2026
11 added, 6 trimmed — net +4.02 L shares (+6.3%)
- Funds are sitting on
- +37%
- vs est. average cost
- Held by funds
- ₹3.4k Cr
- 24 schemes · ≈ 1.7% of the company
- Biggest holder
- HDFC Large Cap Fund
- ₹1.6k Cr · 4.0% of that fund
- Longest holder
- Nippon India Value Fund
- 14y · since Sep '12
Shares held by these funds +68%
Aug '23 64.80 L shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Torrent Pharmaceuticals Limited
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