---
title: "Elder Project Ltd (524788) — Share Price, Financials & Analysis"
symbol: "524788"
company: "Elder Project Ltd"
canonical: "https://tapetide.com/stocks/524788"
isin: "INE975E01017"
bse_code: "524788"
sector: "Healthcare"
industry: "Pharmaceuticals & Biotechnology"
generated_at: "2026-09-13T18:38:09.578Z"
---

# Elder Project Ltd (524788)

Canonical page: https://tapetide.com/stocks/524788

## Company

- **BSE Code:** 524788
- **ISIN:** INE975E01017
- **Sector:** Healthcare
- **Industry:** Pharmaceuticals & Biotechnology
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-03
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** elderindia.com

## About

Elder Project Limited, incorporated in India, Listed on the Bombay Stock exchange Limited, the company is engaged in Pharmaceutical Manufacturing activities

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Debtor days have improved from 49.6 to 28.0 days.

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 5.54% over past five years.
- Company has a low return on equity of -11.3% over last 3 years.
- Earnings include an other income of Rs.1.63 Cr.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 28% | 6% | -20% |
| revenue growth | 58% | -2% | 6% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.91 | 0.52 | 0.01 | 0.43 | 0.58 | 0.24 | 0.98 | 1.02 | 0.19 |
| Expenses | 0.14 | 1.09 | 0.47 | 0.52 | 0.71 | 0.57 | 0.73 | 0.84 | 0.45 |
| Operating Profit | 0.77 | -0.57 | -0.46 | -0.09 | -0.13 | -0.33 | 0.25 | 0.18 | -0.26 |
| OPM % | 84.62 | -109.62 | -4600 | -20.93 | -22.41 | -137.5 | 25.51 | 17.65 | -136.84 |
| Other Income | -0.41 | 1.32 | 0.28 | 0.28 | 0.27 | 0.64 | 0.35 | 0.32 | 0.32 |
| Interest | 0.86 | 0.79 | 0.96 | 0.98 | 0.95 | 1.4 | 0.74 | 0.74 | 0.72 |
| Depreciation | 0.14 | 0.08 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| Profit before tax | -0.64 | -0.12 | -1.27 | -0.92 | -0.94 | -1.22 | -0.27 | -0.37 | -0.79 |
| Tax % | -23.44 | 50 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.5 | -0.18 | -1.27 | -0.92 | -0.93 | -1.22 | -0.27 | -0.36 | -0.79 |
| EPS in Rs | -1.55 | -0.56 | -3.93 | -2.85 | -2.88 | -3.77 | -0.84 | -1.11 | -2.44 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Jun 2013 15m | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 11.72 | 3.1 | 4.88 | 5.62 | 6.84 | 8.62 | 9.71 | 6.39 | 2.43 |
| Expenses | 11.58 | 3.39 | 4.66 | 5.04 | 5.53 | 6.37 | 7.52 | 4.92 | 2.59 |
| Operating Profit | 0.14 | -0.29 | 0.22 | 0.58 | 1.31 | 2.25 | 2.19 | 1.47 | -0.16 |
| OPM % | 1.19 | -9.35 | 4.51 | 10.32 | 19.15 | 26.1 | 22.55 | 23 | -6.58 |
| Other Income | 4.06 | 0.82 | 0.99 | 2.21 | 0.54 | 0.63 | 1.51 | 1.53 | 1.63 |
| Interest | 1.48 | 1.7 | 1.6 | 3.67 | 1.96 | 2.26 | 2.8 | 2.68 | 3.6 |
| Depreciation | 0.37 | 0.4 | 0.53 | 0.54 | 0.55 | 0.58 | 0.6 | 0.6 | 0.52 |
| Profit before tax | 2.35 | -1.57 | -0.92 | -1.42 | -0.66 | 0.04 | 0.3 | -0.28 | -2.65 |
| Tax % | 7.66 | -36.94 | -66.3 | 16.9 | -1.52 | 175 | 83.33 | 25 | — |
| Net Profit | 2.17 | -0.99 | -0.31 | -1.66 | -0.65 | -0.03 | 0.06 | -0.34 | -2.64 |
| EPS in Rs | 6.71 | -3.06 | -0.96 | -5.13 | -2.01 | -0.09 | 0.19 | -1.05 | -8.16 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Jun 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 |
| Reserves | 2.32 | 1.33 | 1.02 | -0.64 | -1.29 | -1.32 | -1.27 | -1.61 |
| Borrowings | 15.2 | 21.36 | 35.35 | 28.17 | 15.64 | 18.72 | 20.96 | 20.03 |
| Other Liabilities | 3.02 | 2.99 | 4.47 | 1.95 | 4.26 | 1.43 | 1.8 | 2.91 |
| Total Liabilities | 23.77 | 28.91 | 44.07 | 32.71 | 21.84 | 22.06 | 24.72 | 24.56 |
| Fixed Assets | 5.06 | 6.15 | 6.71 | 6.4 | 6.02 | 6.25 | 6.09 | 4.43 |
| CWIP | 0 | 0.67 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 7.33 | 7.34 | 7.34 | 7.34 | 7.34 | 7.34 | 7.34 | 7.39 |
| Other Assets | 11.38 | 14.75 | 30.02 | 18.97 | 8.48 | 8.47 | 11.29 | 12.74 |
| Total Assets | 23.77 | 28.91 | 44.07 | 32.71 | 21.84 | 22.06 | 24.72 | 24.56 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Jun 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.27 | -9.14 | -10.81 | 16.24 | 4.52 | 9.24 | 2.95 | 1.51 |
| Cash from Investing Activity | 0.67 | -1.99 | -0.03 | -0.06 | 0.36 | -0.58 | -1.08 | 0.95 |
| Cash from Financing Activity | -0.33 | 11.18 | 12.99 | -8.79 | -14.49 | -8.69 | -1.75 | -2.68 |
| Net Cash Flow | 0.07 | 0.05 | 2.15 | 7.39 | -9.61 | -0.03 | 0.12 | -0.22 |
| Free Cash Flow | -0.6 | -11.3 | -11.23 | 16.01 | 4.34 | 8.48 | 2.52 | 2.46 |
| CFO/OP | -193 | 3152 | -4914 | 2800 | 348 | 412 | 135 | 103 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Jun 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 70.38 | 50.63 | 11.97 | 14.94 | 13.34 | 34.3 | 86.46 | 27.99 |
| Inventory Days | 20.38 | 691.58 | 189.8 | 192.75 | 180.66 | 149.59 | 150.94 | — |
| Days Payable | 129.46 | 1460 | 428.27 | 463.43 | 412.93 | 329.1 | 359.51 | — |
| Cash Conversion Cycle | -38.7 | -717.79 | -226.5 | -255.74 | -218.93 | -145.21 | -122.11 | 27.99 |
| Working Capital Days | 245.72 | 1256.31 | 1626.05 | 382.54 | 143.01 | 21.17 | 84.95 | 84.54 |
| ROCE % | — | 0.56 | 2.08 | 6.4 | 5.38 | 12.14 | 13.46 | 9.96 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 26.79% | 26.76% | 26.77% | 26.75% | 26.74% | 26.72% | 26.69% | 26.65% | 26.64% | 26.64% |
| FIIs | 32.4% | 30.25% | 30.93% | 30.15% | 29.03% | 25.16% | 27.25% | 29.13% | 25.75% | 22.34% |
| DIIs | 10.55% | 14.8% | 14.53% | 14.35% | 14.9% | 24.78% | 23.05% | 18.31% | 25.63% | 30.44% |
| Public | 30.26% | 28.18% | 27.64% | 28.51% | 28.99% | 23.07% | 22.78% | 25.73% | 21.69% | 20.33% |
| Others | 0% | 0% | 0.13% | 0.24% | 0.35% | 0.28% | 0.22% | 0.17% | 0.29% | 0.25% |
| No. of Shareholders | 129501 | 133710 | 114635 | 115367 | 221107 | 263803 | 232715 | 255500 | 459605 | 455243 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 26.69% | 26.69% | 26.66% | 26.65% | 26.65% | 26.65% | 26.64% | 26.64% | 26.64% | 26.64% | 26.64% | 26.64% |
| FIIs | 27.25% | 26.99% | 28.19% | 28.62% | 29.13% | 27.68% | 27.53% | 26.85% | 25.75% | 25.33% | 24.69% | 22.34% |
| DIIs | 23.05% | 21.99% | 21.04% | 18.65% | 18.31% | 20.72% | 21.48% | 22.89% | 25.63% | 26.73% | 27.99% | 30.44% |
| Public | 22.78% | 24.11% | 23.93% | 25.89% | 25.73% | 24.78% | 24.2% | 23.46% | 21.69% | 21.04% | 20.45% | 20.33% |
| Others | 0.22% | 0.21% | 0.18% | 0.18% | 0.17% | 0.17% | 0.16% | 0.16% | 0.29% | 0.26% | 0.25% | 0.25% |
| No. of Shareholders | 232715 | 246769 | 243445 | 257794 | 255500 | 267694 | 310403 | 403669 | 459605 | 451929 | 449216 | 455243 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 5 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 9.77 | Sell |
| EMA (10) | 9.17 | Sell |
| SMA (20) | 8.93 | Sell |
| EMA (20) | 8.94 | Sell |
| SMA (50) | 8.47 | Buy |
| EMA (50) | 8.94 | Sell |
| SMA (100) | 9.89 | Sell |
| EMA (100) | 9.83 | Sell |
| SMA (200) | 11.61 | Sell |
| EMA (200) | 12.33 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 49.05 | Neutral |
| MACD (12,26,9) | 0.31 | Sell |
| Stochastic (14,3,3) | 25.54 | Neutral |
| ADX (14) | 26.84 | Buy |
| Williams %R (14) | -78.92 | Neutral |
| ATR (14) | 0.55 | High Volatility |
| ROC (12) | -1.36 | Sell |
| Stoch RSI (14) | 11.66 | Buy |
| UO (7,14,28) | 34.97 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Sushrut Kulkarni resigns as Global Head of IPDO; employment ceases May 8, 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 9 Feb - Sushrut Kulkarni resigns as Global Head of IPDO; employment ceases May 8, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3fbbcb0a-1659-47e8-be59-85c5340dbc34.pdf) |
| 7h - Madhu Sundar elevated to Global Head Quality & PV; multiple senior roles revised, effective April 1, 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 7h - Madhu Sundar elevated to Global Head Quality & PV; multiple senior roles revised, effective April 1, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/95269472-0e07-4ba3-8556-0d30bef7f9c5.pdf) |
| 3h - Delhi HC (09-Mar-2026) upheld manufacturing/export permission for semaglutide; refused interim injunction. | [Rumour verification - Regulation 30(11) 3h - Delhi HC (09-Mar-2026) upheld manufacturing/export permission for semaglutide; refused interim injunction.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/b58e4f37-6b8e-4dc6-831b-f2f50ea7af50.pdf) |
| 2h - DOJ closed FCPA inquiry on March 5, 2026; no enforcement recommended. | [Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 2h - DOJ closed FCPA inquiry on March 5, 2026; no enforcement recommended.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/5ff7eba4-c667-4a72-ad92-cb91c9c4bd64.pdf) |
| 27 Feb - Group meetings: 04.03.2026 Ambit Capital (Hyderabad, in-person); 05.03.2026 Goldman Sachs (virtual). | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 27 Feb - Group meetings: 04.03.2026 Ambit Capital (Hyderabad, in-person); 05.03.2026 Goldman Sachs (virtual).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/faad9311-fe29-4d08-9da2-c9fe1c34d119.pdf) |
| 24 Feb - SEC (Feb 23, 2026) won’t recommend enforcement after probe into alleged improper Ukraine payments. | [Disclosure Under Regulation 30 Of The SEBI Listing Regulations 24 Feb - SEC (Feb 23, 2026) won’t recommend enforcement after probe into alleged improper Ukraine payments.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5c7766b6-e143-4aa0-b2e1-708b12bb2a12.pdf) |
| 2 Feb - Dr. Reddy's management to meet investors in Mumbai on 09-Feb-2026 (Nuvama, in-person, 09:00–17:00 IST). | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2 Feb - Dr. Reddy's management to meet investors in Mumbai on 09-Feb-2026 (Nuvama, in-person, 09:00–17:00 IST).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c5fde24b-e021-419b-a1de-d77c3bca86e6.pdf) |
| 18 Feb - On Feb 18, 2026 Dr. Reddy’s acquires Progynova and Cyclo‑Progynova India trademarks for USD 32.15 million. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 18 Feb - On Feb 18, 2026 Dr. Reddy’s acquires Progynova and Cyclo‑Progynova India trademarks for USD 32.15 million.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ab140ddd-3d1b-4119-86b9-6c8e3c6e9936.pdf) |
| 12 Feb - Dr. Reddy's meeting with Kotak Institutional Equities in Mumbai, 23-Feb-2026, in-person group meet 09:00–17:00 IST. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 12 Feb - Dr. Reddy's meeting with Kotak Institutional Equities in Mumbai, 23-Feb-2026, in-person group meet 09:00–17:00 IST.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/89284820-b3f0-402e-a6b7-40a27dd35a05.pdf) |
| 11h - EIR received March 4, 2026: USFDA classified Srikakulam facility inspection as VAI; inspection closed. | [Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 11h - EIR received March 4, 2026: USFDA classified Srikakulam facility inspection as VAI; inspection closed.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/a8596926-ca22-48c6-8ee7-756616f01944.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0953e6da-232b-4a0b-94ed-5348b8e2987d.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2868c6b7-bf6b-43d2-befd-0a5bb4acd2ca.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/29da498c-abc9-4d35-a023-4faa81a6a3ad.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/058c4452-7011-4d57-8bec-f4115564e925.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/73faad30-771d-4f74-bf20-e0148f12b497.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3cb1a643-d837-43d0-a5e2-8c283e1664e6.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c6a5ce3e-7a37-4670-a787-615e4613c2cf.pdf) |
| May 2023 | [Concall - May 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/41545471-d094-48b8-a623-25399fc999c4.pdf) |
| May 2021 | [Concall - May 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ca75fd8e-c729-4e3f-abee-fcaa98e63413.pdf) |
| Jun 2022 | [Concall - Jun 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3ba2cb01-418b-4457-883b-d648d156042e.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_575_DRREDDY_2012_2013_16072013142148.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/709c0d0e-a7a2-4c2a-a123-b09227a7f3f6.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cb3e5286-9df0-4e11-a250-fa17688f8266.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e6b6312d-b8a3-4af8-958b-2564271685e7.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/500124/73517500124.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/500124/68726500124.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/500124/5001240320.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/500124/5001240319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/500124/5001240318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/500124/5001240317.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:38:09.578Z.