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Divis Laboratories

DIVISLAB NSE
₹10,037.50 −26.50 (−0.26%)
P/E
91.10
View as Markdown
MCP
Close 4 Nov 2026 ₹10,037.50 +3,154.00 +45.8% 1Y
Start ₹6,883.50

Key Fundamentals

LargecapPharmaceuticals & BiotechnologyHealthcare

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
22.00%
Debt to Equity
0.00
EPS (TTM)
₹110.18
Book Value
₹631.38
Market Cap
—
P/E (TTM)
91.10
P/B
15.90
ROE
16.50%
Dividend Yield
0.30%
EBITDA
₹3,948 Cr
52W High
₹10,067.00
52W Low
₹5,647.50
Day Range
₹9,946.00 – ₹10,067.00
Volume
5,34,959

Peer Comparison

Healthcare › Pharmaceuticals

Divis Laboratories peer comparison
Sun Pharma
₹1,773.4038.81₹4,29,049 Cr4.770.90%16.00%20.50%₹61,631 Cr₹10,987 Cr
Divis Laboratories (this company)
₹10,037.5091.10₹2,65,269 Cr15.900.30%16.50%22.00%₹11,230 Cr₹2,925 Cr
Torrent Pharmaceuticals
₹4,738.5078.61₹1,77,061 Cr9.810.82%27.40%15.20%₹17,400 Cr₹2,099 Cr
Zydus Life Science
₹1,188.1026.44₹1,25,446 Cr4.370.08%21.20%21.10%₹28,592 Cr₹4,593 Cr
Laurus Labs
₹2,323.80114.81₹1,25,228 Cr20.720.04%18.30%17.80%₹7,270 Cr₹1,090 Cr
Dr Reddys Laboratories
₹1,374.0035.59₹1,14,543 Cr2.960.58%11.20%13.00%₹33,228 Cr₹3,184 Cr
Cipla
₹1,402.0033.59₹1,12,454 Cr3.200.93%11.60%15.50%₹28,324 Cr₹3,356 Cr
Median 7 companies₹1,773.4038.81₹1,25,446 Cr4.770.58%16.50%17.80%₹28,324 Cr₹3,184 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

50 Average

Data confidence 100/100

Category scores

Quality
55
Average
Returns, margins, earnings quality 22% weight
Valuation
23
Poor
Cheap vs sector & own history 24% weight
Growth
44
Weak
Sales & profit trajectory 9% weight
Financial Health
86
Strong
Solvency, leverage, coverage 9% weight
Momentum
84
Strong
Trend strength, vol-adjusted 12% weight
Ownership
48
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 39.0%

Weaknesses

2
  • Stock is trading at 14.9 times its book value
  • The company has delivered a poor sales growth of 8.67% over past five years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish4312
OscillatorsBearish432
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
68.63
Neutral
MACD (12,26,9)
185.72
Bullish
SMA (50)
9,340.52
Bullish
SMA (200)
7,363.16
Bullish

As of

Analyst Rating

Based on 26 analysts
BUY50%

13 of 26 analysts rate Buy, 5 Hold, 8 Sell.

As of

BUY
13
50%
HOLD
5
19%
SELL
8
31%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.83%
5Y+8.67%
3Y+10.78%
1Y+12.82%
TTM+16.35%

Net profit

Net profit growth by window
10Y+8.59%
5Y+5.30%
3Y+12.10%
1Y+17.21%
TTM+26.84%

Operating cash flow

Operating cash flow growth by window
10Y+10.19%
5Y+7.06%
3Y+3.63%
1Y+65.64%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−5.10 pp
5Y−8.55 pp
3Y+2.08 pp
1Y+0.83 pp
TTM+3.48 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹4,064 Cr
Mar 2018₹3,891 Cr
Mar 2019₹4,946 Cr
Mar 2020₹5,394 Cr
Mar 2021₹6,969 Cr
Mar 2022₹8,960 Cr
Mar 2023₹7,768 Cr
Mar 2024₹7,845 Cr
Mar 2025₹9,360 Cr
Mar 2026₹10,560 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1,060 Cr
Mar 2018₹877 Cr
Mar 2019₹1,353 Cr
Mar 2020₹1,377 Cr
Mar 2021₹1,984 Cr
Mar 2022₹2,960 Cr
Mar 2023₹1,823 Cr
Mar 2024₹1,600 Cr
Mar 2025₹2,191 Cr
Mar 2026₹2,568 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹1,203 Cr −8.8% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk high

Divis Laboratories trades at ₹10,037.50 as of 2026-11-04 with a market capitalisation of ₹2,65,269 crore and a trailing PE of 91.1x. The company is virtually debt-free with a debt-to-equity ratio of 0, and has delivered a TTM profit growth of 29% alongside a 10-year stock CAGR of 22%, though the elevated valuation at 15.9x book value and a modest 5-year sales CAGR of 9% present a mixed picture.

Bull Case 8
  • The company is almost debt-free with a debt-to-equity ratio of 0, providing significant financial flexibility and resilience against interest-rate cycles.
  • TTM profit growth stands at 29%, a sharp acceleration compared to the 5-year compounded profit growth of 6%, signalling a strong earnings recovery.
  • The stock has delivered a 1-year return CAGR of 53%, reflecting robust momentum with the price near its 52-week high of ₹10,067.
  • 10-year compounded sales growth of 11% and 10-year compounded profit growth of 9% demonstrate a durable long-term earnings trajectory in the CDMO and API space.
  • Return on equity averaged 18% over the last 10 years and ROCE stands at 18.96%, indicating consistently efficient capital deployment without leverage.
  • The company has maintained a healthy dividend payout ratio of 39.0%, returning a meaningful share of profits to shareholders even while reinvesting for growth.
  • TTM sales growth of 16% outpaces the 5-year compounded sales growth of 9%, suggesting an improving demand environment and potential uptick in order flows.
  • 3-year stock CAGR of 36% significantly exceeds the 10-year CAGR of 22%, indicating accelerating investor interest and re-rating over the medium term.
Bear Case 7
  • The stock trades at 15.9x book value, well above typical pharma peers, suggesting much of the future growth is already priced in.
  • Five-year compounded sales growth of only 9% — described as a poor 8.67% over five years — raises questions about the sustainability of the recent TTM acceleration.
  • The dividend yield stands at just 0.3%, offering minimal income return relative to the capital deployed at current elevated prices.
  • Five-year compounded profit growth is only 6%, significantly trailing the 10-year rate of 9%, indicating a period of earnings stagnation before the recent TTM rebound.
  • The stock is trading near its 52-week high of ₹10,067, just 0.3% away, increasing the risk of mean-reversion from current levels — the 52-week low was ₹5,647.50, representing a potential 44% drawdown range.
  • ROE of 15.32% on a trailing basis is below the 10-year average ROE of 18%, suggesting returns on equity have compressed despite the zero-debt balance sheet.
  • The 5-year stock CAGR of 13% lags the 10-year CAGR of 22%, indicating a prolonged mid-cycle underperformance before the recent sharp re-rating.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Limited recent news flow for Divis Laboratories. The only notable development is a sizable block trade worth ₹194.80 crore on Oct 22, which by itself is directionally neutral since the counterparties and intent are unknown. With no fresh headwinds or positive catalysts in the current news cycle, the near-term outlook hinges on upcoming quarterly results and broader healthcare sector sentiment.

Neutral 1
  • Large block trade on NSE Oct 22

    Approximately 2,13,394 shares of Divis Laboratories changed hands at ₹9,128.50 per share in a large trade worth ₹194.80 crore. Buyer and seller identities remain undisclosed pending post-market exchange reports.

Quarterly Results

₹ Cr
DIVISLAB quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,778
1,909
1,855
2,303
2,118
2,338
2,319
2,585
2,410
2,715
2,604
2,831
3,080
Expenses
1,274
1,430
1,366
1,572
1,496
1,622
1,576
1,699
1,681
1,827
1,714
1,897
1,825
Operating Profit
504
479
489
731
622
716
743
886
729
888
890
934
1,255
OPM %
28%
25%
26%
32%
29%
31%
32%
34%
30%
33%
34%
33%
41%
Other Income
81
86
95
79
79
106
82
86
119
145
14
155
64
Interest
0
1
0
2
0
1
0
1
3
8
6
6
6
Depreciation
93
95
95
95
97
99
99
107
112
113
118
120
133
PBT
492
469
489
713
604
722
726
864
733
912
780
963
1,180
Tax %
28%
26%
27%
25%
29%
29%
19%
23%
26%
24%
25%
22%
24%
Net Profit
356
348
358
538
430
510
589
662
545
689
583
751
902
EPS (₹)
13.41
13.11
13.49
20.27
16.2
19.21
22.19
24.94
20.53
25.95
21.96
28.29
33.98

Profit & Loss

₹ Cr
DIVISLAB profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,115
3,776
4,064
3,891
4,946
5,394
6,969
8,960
7,768
7,845
9,360
10,560
11,230
Expenses
1,942
2,354
2,615
2,622
3,072
3,568
4,102
5,075
5,397
5,635
6,387
7,118
7,263
Operating Profit
1,173
1,423
1,450
1,269
1,874
1,826
2,867
3,885
2,370
2,210
2,973
3,442
3,967
OPM %
38%
38%
36%
33%
38%
34%
41%
43%
31%
28%
32%
33%
35%
Other Income
38
93
72
107
154
186
57
112
344
335
348
433
378
Interest
3
5
3
2
5
7
2
2
2
4
2
23
26
Depreciation
136
118
123
142
169
186
256
312
343
378
402
463
484
PBT
1,072
1,393
1,395
1,231
1,855
1,819
2,666
3,684
2,369
2,163
2,916
3,388
3,835
Tax %
21%
19%
24%
29%
27%
24%
26%
20%
23%
26%
25%
24%
—
Net Profit
852
1,126
1,060
877
1,353
1,377
1,984
2,960
1,823
1,600
2,191
2,568
2,925
EPS (₹)
32.07
42.41
39.95
33.04
50.96
51.85
74.75
112
68.69
60.27
82.53
96.73
110
Div. Payout %
31%
24%
25%
30%
31%
31%
27%
27%
44%
50%
36%
31%
—

Balance Sheet

₹ Cr
DIVISLAB balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
27
53
53
53
53
53
53
53
53
53
53
53
Reserves
3,469
4,240
5,304
5,872
6,904
7,257
9,242
11,675
12,714
13,518
14,916
16,708
Borrowings
27
42
36
63
106
39
5
4
3
3
4
7
Other Liabilities
883
562
762
797
973
1,183
1,471
1,628
1,654
1,886
1,948
3,251
Total Liabilities
4,405
4,898
6,155
6,785
8,036
8,531
10,771
13,360
14,425
15,460
16,921
20,019
Fixed Assets
1,309
1,439
1,559
1,996
2,088
2,782
3,704
4,325
4,723
4,739
5,442
6,528
CWIP
218
264
444
120
492
920
711
470
212
778
1,022
2,113
Investments
733
803
1,631
1,889
1,946
971
0
72
77
82
65
69
Other Assets
2,145
2,392
2,521
2,780
3,511
3,858
6,356
8,493
9,413
9,861
10,392
11,309
Total Assets
4,405
4,898
6,155
6,785
8,036
8,531
10,771
13,360
14,425
15,460
16,921
20,019

Cash Flow

₹ Cr
DIVISLAB cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
826
1,038
1,150
776
954
1,216
1,947
1,912
2,460
1,261
1,653
2,738
Investing
−521
−406
−1,140
−478
−685
−83
75
−2,195
−2,708
−269
−804
−2,219
Financing
−303
−631
2
−314
−246
−1,091
−35
−532
−797
−799
−799
−804
Net Cash Flow
3
0
13
−17
23
41
1,987
−816
−1,045
193
50
−285
Free Cash Flow
519
642
774
502
221
33
1,037
1,199
1,987
258
215
221
CFO/OP
88
91
100
82
77
91
90
66
124
74
83
105

Ratios

DIVISLAB financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
87
85
81
95
86
96
88
99
84
100
106
103
Inventory Days
350
293
307
314
347
316
329
341
352
364
311
346
Days Payable
68
56
104
96
96
100
117
96
89
94
88
106
Cash Conversion Cycle
368
322
284
313
336
312
300
344
347
370
330
343
Working Capital Days
140
158
147
176
169
180
152
177
188
206
192
195
ROCE %
33%
36%
29%
22%
29%
25%
32%
35%
19%
16%
20%
22%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Divis Laboratories insights

72 extracted metrics across FY06–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.88%
  • FIIs 20.38%
  • DIIs 19.17%
  • Public 6.55%
  • Others 2.03%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Divis Laboratories

What does Divis Laboratories Ltd do?
Incorporated in 1990, Divis Laboratories Ltd manufactures and exports API's, Intermediates and Nutraceutical ingredients
Where is Divis Laboratories Ltd (DIVISLAB) listed?
Divis Laboratories Ltd trades as DIVISLAB on the NSE and under code 532488 on the BSE.
Which sector does Divis Laboratories Ltd belong to?
Divis Laboratories Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the PE ratio of Divis Laboratories Ltd?
Divis Laboratories Ltd trades at a PE ratio of 91.10 as of 4 Nov 2026, on earnings per share of ₹110.18, against a book value of ₹631.38 per share.
What is the 52-week high and low of Divis Laboratories Ltd?
Over the last 52 weeks Divis Laboratories Ltd has traded between ₹5,647.5 and ₹10,067 as of 4 Nov 2026.
Does Divis Laboratories Ltd pay dividends?
Divis Laboratories Ltd has a dividend yield of 0.30%.
What is the Return on Equity (ROE) of Divis Laboratories Ltd?
Divis Laboratories Ltd reported a return on equity of 16.50%. Its debt-to-equity ratio is 0.00.

Company Information

Incorporated in 1990, Divis Laboratories Ltd manufactures and exports API's, Intermediates and Nutraceutical ingredients

Website divislabs.com
CEO Dr. Kiran Satchandra Divi B. Pharm., M.Pharm
Employees 10,542
Listed 12 Mar 2003
Face Value ₹2

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