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FDC

FDC NSE

Key Fundamentals

MicrocapPharmaceuticalsHealthcare
Market Cap
₹5,531 Cr
Volatility
Moderate
P/E Ratio
19
EBITDA
₹460 Cr
Return on Equity
11.32%
Debt to Equity
0.01
Book Value
₹152.64
EPS
₹19.31
52W High
₹527.8
52W Low
₹312.95

Tapetide Score

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

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 19.8%

Weaknesses

2
  • The company has delivered a poor sales growth of 10.3% over past five years.
  • Company has a low return on equity of 12.3% over last 3 years.

Growth Rate

Revenue Growth
3.9% lower than 3Y
Net Income Growth
5.47% lower than 3Y
Cash Flow Change
-36.88% lower than 3Y
ROE
-3.25% lower than 3Y
ROCE
-3.38% higher than 3Y
EBITDA Margin (Avg.)
6.51% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk medium

FDC Ltd is a nearly debt-free healthcare company with a market cap of ₹6,651 Cr trading at a PE of 23.5x. While compounded profit growth has been strong at 16% over 3 years, sales growth remains modest at 7% over the same period, and the stock has declined 15% over the past year.

Bull Case 7
  • Company is almost debt-free, significantly reducing financial risk and interest burden
  • Compounded profit growth of 16% over 3 years outpaces revenue growth, indicating improving margins
  • TTM profit growth of 15% demonstrates continued earnings momentum
  • Consistent dividend payout of 19.8% with a current yield of 1.23%, providing income to shareholders
  • 10-year compounded sales CAGR of 8% shows long-term revenue consistency
  • ROE has remained stable at 12-13% across 3, 5, and 10-year periods, reflecting steady capital efficiency
  • Stock CAGR of 8% over 10 years indicates long-term wealth creation despite recent weakness
Bear Case 8
  • Working capital days have nearly doubled from 68.7 days to 121 days, indicating deteriorating cash conversion efficiency
  • Stock has declined 15% over the past 1 year, significantly underperforming the broader market
  • 5-year compounded sales growth of only 10% is considered poor for a healthcare company
  • ROE of 12.8% over 3 years is below the 15%+ threshold typically expected from quality compounders
  • 5-year compounded profit CAGR of just 1% suggests earnings growth has been lumpy and inconsistent
  • TTM sales growth has decelerated sharply to just 3%, well below the 5-year average of 10%
  • PE of 23.5x appears elevated relative to single-digit TTM sales growth and a 12% ROE
  • 5-year stock CAGR of only 2% implies prolonged underperformance and limited price appreciation

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

AI News Digest

Anthropic anthropic claude-opus-4.6 101d ago
Positives 4
  • Q4 profit surges 167% May 27

    Q4 FY26 net profit surged 167.4% to ₹103 crore with revenue of ₹585 crore (up 18.9% YoY). EBITDA margins improved sharply to 18.2% from 11.0% in Q4 FY25.

  • USFDA approval for Cefixime May 18

    FDC received USFDA ANDA approval for Cefixime Oral Suspension USP in two strengths (100 mg/5 mL and 200 mg/5 mL), strengthening its U.S. pharma portfolio.

  • New Independent Director appointed May 28

    Kishore Mukund Saletore appointed as Independent Director via postal ballot with 99.76% shareholder votes in favour.

  • FY26 profit up 5.5% May 27

    Consolidated net profit for FY26 rose 5.5% YoY to ₹281 crore, driven by strong performance across Domestic Formulations, Export Formulations, and API segments.

Neutral 2
  • Promoters hold 69.66% unencumbered May 8

    Promoter group holds 11,34,10,433 shares (69.66% of paid-up capital) as of March 31, 2026 with zero encumbrance reported during FY26.

  • Postal ballot corrigendum published May 14

    FDC published a corrigendum on May 13, 2026 in Business Standard and Navshakti correcting the resolution type for the Independent Director appointment from the April 21 postal ballot notice.

TL;DR: FDC delivered a strong Q4 FY26 with 167% profit growth and significant margin expansion, though full-year profit growth was a modest 5.5%. The USFDA approval for Cefixime opens new U.S. revenue potential. No material headwinds are visible currently, and with high promoter holding and improving margins, the trend appears to be improving heading into FY27.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
536
486
458
462
638
514
464
492
648
473
465
585
668
Expenses
414
410
374
406
492
444
417
438
508
439
412
478
525
Operating Profit
122
76
84
56
147
70
47
54
140
34
52
106
143
OPM %
23%
16%
18%
12%
23%
14%
10%
11%
22%
7%
11%
18%
21%
Other Income
29
27
25
20
28
35
19
16
36
21
0
50
48
Interest
1
1
1
1
1
1
1
1
1
1
1
2
1
Depreciation
10
10
10
10
11
14
13
16
15
15
15
14
15
PBT
141
93
98
65
163
90
51
53
160
38
36
140
175
Tax %
22%
25%
19%
29%
27%
20%
28%
27%
24%
26%
22%
26%
24%
Net Profit
110
70
79
46
119
72
37
39
121
28
28
103
132
EPS in Rs
6.62
4.29
4.87
2.84
7.31
4.42
2.28
2.38
7.45
1.74
1.74
6.35
8.14
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
888
994
1,013
1,074
1,089
1,341
1,331
1,525
1,784
1,943
2,108
2,171
2,190
Expenses
690
765
769
841
860
1,038
997
1,271
1,533
1,604
1,783
1,825
1,855
Operating Profit
199
229
243
233
229
304
334
254
251
339
325
346
335
OPM %
22%
23%
24%
22%
21%
23%
25%
17%
14%
17%
15%
16%
15%
Other Income
46
39
44
45
42
57
95
76
50
102
91
93
118
Interest
2
1
1
1
1
3
3
3
4
4
5
5
5
Depreciation
39
34
35
35
33
37
38
37
39
40
54
59
59
PBT
204
232
252
241
237
320
388
289
258
396
357
375
390
Tax %
27%
27%
25%
28%
28%
25%
22%
25%
25%
23%
25%
25%
—
Net Profit
148
169
189
174
170
240
301
216
194
305
267
281
293
EPS in Rs
8.33
9.48
10.6
9.95
9.74
14.03
17.85
12.82
11.7
18.75
16.39
17.29
17.97
Div. Payout %
27%
24%
21%
0%
0%
6%
0%
0%
0%
0%
31%
29%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
18
18
18
18
18
17
17
17
17
16
16
16
Reserves
919
1,065
1,252
1,259
1,428
1,530
1,717
1,940
1,965
2,081
2,265
2,469
Borrowings
2
1
1
1
1
15
15
32
28
21
21
15
Other Liabilities
210
182
197
228
194
250
208
281
333
350
412
418
Total Liabilities
1,148
1,266
1,468
1,505
1,640
1,813
1,956
2,270
2,343
2,468
2,714
2,919
Fixed Assets
393
675
678
674
682
674
689
705
699
680
852
999
CWIP
29
20
6
13
12
24
19
105
198
261
137
96
Investments
489
325
491
471
585
665
790
886
806
843
1,028
1,048
Other Assets
237
246
293
348
360
451
458
575
640
684
698
775
Total Assets
1,148
1,266
1,468
1,505
1,640
1,813
1,956
2,270
2,343
2,468
2,714
2,919
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
128
174
154
150
112
250
207
162
155
221
318
200
Investing
-89
-73
-144
21
-121
-98
-77
-145
11
-17
-199
-110
Financing
-48
-97
0
-169
0
-142
-129
-10
-180
-202
-92
-93
Net Cash Flow
-9
4
11
1
-8
10
1
7
-14
2
26
-3
Free Cash Flow
83
-130
130
114
70
247
148
35
47
151
227
40
CFO/OP
96
101
92
94
81
110
90
95
93
96
129
83
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
25
23
27
28
29
34
30
20
25
22
19
26
Inventory Days
132
134
148
166
184
180
189
210
183
216
186
182
Days Payable
94
84
81
101
82
101
68
94
99
103
102
106
Cash Conversion Cycle
64
72
94
93
131
113
152
135
109
135
103
102
Working Capital Days
11
21
23
29
45
40
48
45
48
53
33
41
ROCE %
21%
22%
21%
19%
17%
21%
22%
15%
13%
18%
16%
15%

Insights

Beta

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

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Shareholding Pattern

FIIs1.40%Promot.69.66%Others4.99%DIIs6.31%Public17.64%As ofJun 2026

Documents

Frequently Asked Questions about FDC

What does FDC Ltd do?
FDC (Fairdeal Corporation) Ltd Limited (found in 1936) is among India’s leading fully integrated pharmaceutical companies. The Company is a pioneer in the manufacture of specialized formulations, and among the world’s foremost manufacturers and marketers of Oral Rehydration Salts (ORS). Some of F...
Where is FDC Ltd (FDC) listed?
FDC Ltd trades as FDC on the NSE and under code 531599 on the BSE.
Which sector does FDC Ltd belong to?
FDC Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of FDC Ltd?
FDC Ltd has a market capitalisation of ₹5,531 Cr, which places it in the Mid Cap band.
What is the PE ratio of FDC Ltd?
FDC Ltd trades at a PE ratio of 19.00, on earnings per share of ₹19.31, against a book value of ₹152.64 per share.
What is the 52-week high and low of FDC Ltd?
Over the last 52 weeks FDC Ltd has traded between ₹312.95 and ₹527.8.
Does FDC Ltd pay dividends?
FDC Ltd has a dividend yield of 1.45%.
What is the Return on Equity (ROE) of FDC Ltd?
FDC Ltd reported a return on equity of 11.32%. Its debt-to-equity ratio is 0.01.

Company Information

FDC (Fairdeal Corporation) Ltd Limited (found in 1936) is among India’s leading fully integrated pharmaceutical companies. The Company is a pioneer in the manufacture of specialized formulations, and among the world’s foremost manufacturers and marketers of Oral Rehydration Salts (ORS). Some of FDC’s leading brands in India include Zifi, Electral, Enerzal, Vitcofol, Pyrimon, Zocon, Zathrin, Zipod, Cotaryl and Mycoderm in the domestic and international markets.[1]

Website fdcindia.com
CEO Dr. Nandan Mohan Chandavarkar
Employees 6,857
Listed 1997-08-07
Face Value ₹ 1
Issued Size 16,28,10,084

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