Natural Capsules
Natural Capsules
HealthcareKey Fundamentals
MicrocapPharmaceuticalsHealthcareTapetide Score
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Key Insights
Strengths
1- Stock is trading at 1.12 times its book value
Weaknesses
6- Company has low interest coverage ratio.
- Company has a low return on equity of -2.06% over last 3 years.
- Contingent liabilities of Rs.75.2 Cr.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.3.72 Cr.
- Promoter holding has decreased over last 3 years: -5.65%
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 37.7 | 37.52 | 39.98 | 40.22 | 39.18 | 41.22 | 43.83 | 44.97 | 45.2 | 45.8 | 37.75 | 58.45 | 48.71 |
| Expenses | 31.74 | 32.4 | 35.26 | 36.11 | 34.81 | 36.72 | 39.56 | 40.58 | 44.88 | 46.69 | 40.07 | 57.12 | 47.59 |
| Operating Profit | 5.96 | 5.12 | 4.72 | 4.11 | 4.37 | 4.5 | 4.27 | 4.39 | 0.32 | -0.89 | -2.32 | 1.33 | 1.12 |
| OPM % | 15.81% | 13.65% | 11.81% | 10.22% | 11.15% | 10.92% | 9.74% | 9.76% | 0.71% | -1.94% | -6.15% | 2.28% | 2.3% |
| Other Income | 0.17 | 0.35 | 0.5 | 0.92 | 0.18 | 0.11 | 0.11 | 0.3 | 0.36 | 0.16 | 0.45 | 0.76 | 2.35 |
| Interest | 1.33 | 1.16 | 1.24 | 1.4 | 1.49 | 1.65 | 1.54 | 1.64 | 2.53 | 2.68 | 2.85 | 2.89 | 4.97 |
| Depreciation | 2.11 | 2.17 | 2.19 | 2.2 | 2.28 | 2.35 | 2.33 | 2.16 | 4.21 | 4.29 | 4.36 | 4.28 | 4.33 |
| PBT | 2.69 | 2.14 | 1.79 | 1.43 | 0.78 | 0.61 | 0.51 | 0.89 | -6.06 | -7.7 | -9.08 | -5.08 | -5.83 |
| Tax % | 32.34% | 27.1% | 32.96% | 32.17% | 21.79% | 201.64% | 78.43% | 41.57% | -8.09% | -9.09% | -21.7% | -1.97% | -1.54% |
| Net Profit | 1.82 | 1.56 | 1.21 | 0.97 | 0.6 | -0.61 | 0.11 | 0.52 | -5.58 | -6.99 | -7.12 | -4.98 | -5.75 |
| EPS in Rs | 1.96 | 1.68 | 1.3 | 1.04 | 0.64 | -0.6 | 0.11 | 0.35 | -5.4 | -6.76 | -4.77 | -3.32 | -3.82 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 55 | 60 | 62 | 80 | 135 | 170 | 155 | 169 | 187 | 191 |
| Expenses | 49 | 55 | 56 | 68 | 110 | 135 | 135 | 151 | 188 | 191 |
| Operating Profit | 6 | 5 | 5 | 11 | 26 | 35 | 20 | 18 | -1 | -1 |
| OPM % | 10% | 8% | 9% | 14% | 19% | 21% | 13% | 10% | -0.5% | -0.4% |
| Other Income | 1 | 1 | 1 | 3 | 1 | 1 | 2 | 1 | 2 | 4 |
| Interest | 0 | 1 | 1 | 1 | 2 | 4 | 5 | 7 | 12 | 13 |
| Depreciation | 4 | 3 | 4 | 4 | 5 | 7 | 9 | 9 | 17 | 17 |
| PBT | 2 | 2 | 1 | 9 | 19 | 25 | 8 | 3 | -28 | -28 |
| Tax % | 34% | 7% | 38% | 24% | 28% | 26% | 31% | 78% | -12% | — |
| Net Profit | 1 | 2 | 1 | 7 | 14 | 18 | 6 | 1 | -25 | -25 |
| EPS in Rs | 1.19 | 2.06 | 0.92 | 7.43 | 14.96 | 20.02 | 5.95 | 0.42 | -16.44 | -18.67 |
| Div. Payout % | 56% | 32% | 43% | 9% | 5% | 5% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 7 | 9 | 9 | 10 | 10 |
| Reserves | 48 | 49 | 49 | 56 | 76 | 114 | 194 | 176 | 165 |
| Borrowings | 0 | 5 | 6 | 10 | 53 | 97 | 109 | 152 | 162 |
| Other Liabilities | 19 | 14 | 14 | 27 | 29 | 70 | 64 | 81 | 87 |
| Total Liabilities | 73 | 75 | 76 | 99 | 165 | 290 | 377 | 419 | 424 |
| Fixed Assets | 22 | 24 | 24 | 38 | 66 | 97 | 103 | 284 | 274 |
| CWIP | 1 | 2 | 2 | 7 | 20 | 88 | 144 | 0 | 4 |
| Investments | 5 | 5 | 6 | 0 | 0 | 0 | 3 | 3 | 3 |
| Other Assets | 45 | 43 | 45 | 54 | 79 | 105 | 127 | 133 | 143 |
| Total Assets | 73 | 75 | 76 | 99 | 165 | 290 | 377 | 419 | 424 |
Cash Flow
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 5 | 2 | 7 | 13 | -1 | 17 | -8 | 27 | 11 |
| Investing | -1 | -7 | -6 | -16 | -46 | -105 | -73 | -44 | -11 |
| Financing | -4 | 4 | -1 | 3 | 48 | 87 | 82 | 16 | -1 |
| Net Cash Flow | 0 | -1 | 0 | 0 | 1 | 0 | 1 | -2 | 0 |
| Free Cash Flow | 4 | -5 | 2 | -11 | -47 | -88 | -79 | -18 | -1 |
| CFO/OP | 97 | 57 | 144 | 134 | 17 | 64 | -32 | 162 | -1,634 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 208 | 197 | 180 | 123 | 71 | 112 | 128 | 134 | 139 |
| Inventory Days | 149 | 87 | 89 | 82 | 34 | 45 | 88 | 109 | 94 |
| Days Payable | 185 | 114 | 91 | 159 | 98 | 127 | 141 | 166 | 197 |
| Cash Conversion Cycle | 172 | 170 | 179 | 45 | 7 | 30 | 75 | 78 | 36 |
| Working Capital Days | 186 | 143 | 121 | 35 | 73 | 61 | 80 | 53 | -1 |
| ROCE % | — | 5% | 4% | 11% | 21% | 15% | 5% | 3% | -5% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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67 extracted metrics + investor summaries across FY07–FY26.
Documents
Frequently Asked Questions about Natural Capsules
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Company Information
Incorporated in 1993, Natural Capsules manufactures Capsules and Steroidal APIs and their Intermediates and Derivatives[1]
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