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Natco Pharma Limited special call summary

NSE: NATCOPHARM · BSE: 524816

Special call of 23 Jul 2025, summarised by AI from the filing.

NATCO to acquire 35.75% of Adcock Ingram for about ₹2,000 cr, expecting group revenue to touch almost $1 billion.

Key takeaways

  1. Acquisition NATCO to acquire 35.75% of Adcock Ingram for about ₹2,000 cr, delisting it.
  2. Guidance Adcock revenue to exceed US$500 mn this year; group revenue to touch almost $1 bn.
  3. Change First major acquisition, funded from cash, diversifying away from US.
  4. Driver NATCO's R&D pipeline can be extended to Southern Africa, especially Prescription.
  5. Risk Prescription business faces competition from Indian companies, limiting growth.

Original filing on BSE

Natco Pharma Limited Q1 FY27 results

As filed: Revenue ₹735 cr (−45% year on year), EBITDA ₹187 cr (−67% year on year), PAT ₹207 cr (−57% year on year), EBITDA margin 25.4% (−1,000 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹739 cr (−39% year on year), EBITDA ₹128 cr (−77% year on year), PAT ₹269 cr (−34% year on year), EBITDA margin 17.3% (−1,000 bps). Score 8 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 1000 bps year on year. Other income 54% of PBT. Tax rate -62%. Share price after the results: −23.1% in 29 days (Nifty 500: +2.5%).
  • Q3 FY26: Revenue ₹647 cr (+36% year on year), EBITDA ₹159 cr (+300% year on year), PAT ₹151 cr (+15% year on year), EBITDA margin 24.5% (+1,000 bps). Score 60 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA growth was well above it; profit growth was below it. EBITDA margin rose 1000 bps year on year. Other income 36% of PBT. Tax rate 13%. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue fell 53% from last quarter. Share price after the results: +12.3% in 29 days (Nifty 500: −10.1%).
  • Q2 FY26: Revenue ₹1,363 cr (−1% year on year), EBITDA ₹579 cr (−28% year on year), PAT ₹518 cr (−23% year on year), EBITDA margin 42.5% (−1,000 bps). Score 32 of 100, Below trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin fell 1000 bps year on year. Share price after the results: +16.6% in 28 days (Nifty 500: +1.4%).
  • Q1 FY26: Revenue ₹1,329 cr (−2% year on year), EBITDA ₹571 cr (−29% year on year), PAT ₹480 cr (−28% year on year), EBITDA margin 43.0% (−1,000 bps). Score 28 of 100, Below trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin fell 1000 bps year on year. Share price after the results: −7.1% in 30 days (Nifty 500: +0.7%).
  • Q4 FY25: Revenue ₹1,221 cr (+14% year on year), EBITDA ₹548 cr (+10% year on year), PAT ₹406 cr (+5% year on year), EBITDA margin 44.9% (−175 bps). Score 49 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were below it. EBITDA margin fell 175 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: +1.8% in 30 days (Nifty 500: −0.4%).
  • Q3 FY25: Revenue ₹475 cr (−37% year on year), EBITDA ₹39.0 cr (−85% year on year), PAT ₹132 cr (−38% year on year), EBITDA margin 8.2% (−1,000 bps). Score 0 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 1000 bps year on year. Other income 107% of PBT. Revenue fell 65% from last quarter. Revenue rose ₹-284.0 cr on a year ago, against ₹266 cr the year before.
  • Q2 FY25: Revenue ₹1,371 cr (+33% year on year), EBITDA ₹804 cr (+75% year on year), PAT ₹677 cr (+83% year on year), EBITDA margin 58.6% (+1,000 bps). Score 96 of 100, Above trend. EBITDA margin rose 1000 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Natco Pharma Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.