Ambalal Sarabhai Enterprises Limited (AMBALALSA)

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Ambalal Sarabhai Enterprises Limited (AMBALALSA) · mywealthgrid

About

Ambalal Sarabhai Enterprises Limited is a small-cap pharmaceutical operator with minimal revenue of ₹0.33–₹1.73 crore per quarter. The company has been beset by deeply negative operating margins across recent quarters, consistent with an unprofitable business model. Its ₹350 crore market cap and 51% one-year return suggest the market is pricing in a turnaround or recovery scenario.

Face value: ₹10

Market cap

₹290 Cr

P/E

58.9×

P/B

1.8×

Dividend yield

ROE

11.9%

ROCE

13.8%

Debt / equity

0.33

OPM

5.8%

EPS (TTM)

₹0.6

Book value

₹20.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Deeply negative operating margins across all eight recent quarters (ranging -98% to -497%) are structurally unsustainable, indicating operations are loss-making at current scale

Revenue base of ₹0.33–₹1.73 crore per quarter is insufficient to cover operating expenses—verify the path to profitability and how management plans to scale

Volatile net profits swinging from losses of ₹4.97 crore to gains of ₹8.43 crore raise questions about earnings quality and sustainability of recent quarters' profitability

Valuation (PE 71.01) is extremely high relative to historical and current earnings power, pricing in a speculative recovery—verify whether balance-sheet assets or strategic catalysts justify the premium

Generated analysis · source review pending

Growth drivers

Operating margins at -98% (Mar 2025) are unsustainable but provide room for recovery if revenue grows or costs reduce—verify management's turnaround strategy

Low financial leverage (D/E 0.33) provides balance-sheet flexibility to invest in growth or R&D without immediate solvency pressure

Pharmaceutical sector in India has structural tailwinds from generic penetration and regulated-market exports—verify this company's product portfolio, certifications, and competitive position

Generated analysis · source review pending

2,214 historical price candles were omitted because the exchange source has not been verified.

₹37.9-2.9%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 6.6% (3-yr avg)
−Thin operating margin of 5.8%
−Profit declined 9.5% a year over the last 5 years
−Modest revenue growth of 4.3% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

35/100

Business quality: 35
Growth: 40
Valuation: 31

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	136	126	164	197	170	174	196	202
COGS	77	70	88	102	103	101	116	100
Gross profit	59	55	76	95	67	73	81	102
	71	67	78	70	59	66	73	91
Operating profit (EBITDA)	-11	-12	-2	25	9	6	8	12
OPM %	-8.2%	-9.4%	-1.1%	12.7%	5%	3.6%	4.1%	5.8%
Depreciation	4	2	2	2	3	4	4	4
Interest	5	3	3	2	2	4	4	4
	-8	33	46	57	12	10	5	15
Profit before tax	-14	8	33	54	15	7	5	19
Tax	5	7	3	7	4	1	-0	1
Tax %	33.9%	84.1%	9.8%	12.9%	25.1%	14.6%	-2.1%	3.8%
	-18	1	29	47	11	6	5	18
PAT margin %	-13.4%	1%	17.9%	24%	6.5%	3.3%	2.5%	8.8%
EPS (₹)	-2.4	0.2	3.8	6.2	1.5	0.7	0.6	2.3
EPS adjusted (₹)	—	—	3.8	6.2	1.5	0.7	0.6	2.3
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	77	77	77	77	77	77
Reserves	-3	—	54	61	63	82
Minority interest	0	—	0	0	0	0
	28	—	40	45	49	52
	109	—	75	68	81	71
Total equity & liabilities	210	—	246	250	270	281
	32	58	85	88	87	60
CWIP	1	—	4	0	0	2
Investments	27	—	32	30	32	32
	150	—	125	133	151	188
Total assets	210	—	246	250	270	281

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	-7	19	-7	-2	11	6	5	-18	13
	-3	18	-9	17	10	5	-17	-1	13	-10
	-6	-2	-6	-14	-6	-19	9	-3	-2	-2
Net cash flow	-4	8	3	-4	2	-3	-2	1	-6	1
Free cash flow	5	-19	8	—	-5	—	-15	2	-18	—
CFO / Operating profit %	—	—	—	—	—	46.1%	66.7%	74.7%	-218.1%	114%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	43.6%	44.1%	46.3%	48.2%	39.6%	41.8%	41.1%	50.6%
EBITDA margin %	-8.2%	-9.4%	-1.1%	12.7%	5%	3.6%	4.1%	5.8%
EBIT margin %	-11.3%	-11.1%	-2.6%	11.5%	3.4%	1.6%	2.1%	3.9%
PAT margin %	-13.4%	1%	17.9%	24%	6.5%	3.3%	2.5%	8.8%
Working capital
Receivable days	—	—	87	—	58	55	82	86
Inventory days	—	—	66	—	62	58	75	81
Payable days	—	—	2	—	131	133	158	149
NWC days	—	—	151	—	-11	-19	-2	19
Leverage
Current ratio	—	—	0.94	—	1.23	1.16	0.98	1.27
Debt to EBITDA	—	—	—	—	4.68	7.13	6.01	4.39
Debt to equity	—	—	0.37	—	0.31	0.33	0.35	0.33
Interest coverage	-2	3.3	8.9	38	7.5	3.5	3.6	5.6
Asset turnover	—	—	0.78	—	0.69	0.69	0.73	0.72
Return ratios
Return on assets %	—	—	14%	—	4.5%	2.3%	1.8%	6.3%
Return on capital employed %	—	—	32.4%	—	12.2%	8.8%	10.4%	13.8%
Return on equity %	—	—	39.7%	—	8.5%	4.1%	3.5%	11.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.77%	30.77%	30.77%	30.77%	31.35%	31.35%	31.35%	31.35%	31.35%	31.36%	31.36%	31.36%
	0%	0%	0%	0%	0%	0%	0.38%	0.38%	0.34%	0.34%	0%	0%
DII	0.01%	0.01%	0.01%	0.01%	0.01%	0.1%	0.1%	0.01%	0.01%	0.01%	0.01%	0.01%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	69.22%	69.22%	69.22%	69.22%	68.64%	68.55%	68.17%	68.26%	68.3%	68.29%	68.63%	68.63%
No. of shareholders	—	—	—	—	—	—	—	—	1,70,015	1,68,396	1,67,599	1,67,066

Promoter holding up 0.59 percentage points since Sep 2023.

Mr. KARTIKEYA VIKRAM SARABHAIExecutive Director-Chairperson
Mr. MAYUR SWADIANon-Executive - Independent Director-Shareholder Director
Ms. CHAULA MAHENDRAPRASAD SHASTRIExecutive Director
Mr. BRIJESH KHANDELWALNon-Executive - Independent Director-Shareholder Director
Mr. MOHAL KARTIKEYA SARABHAIExecutive Director-MD
Mr. BHARATENDU JANINon-Executive - Nominee Director
Mr. AJAY MAYORNon-Executive - Nominee Director
Mr. GOVINDPRASAD NAMDEONon-Executive - Independent Director-Shareholder Director
Mr. SATYEN DAVENon-Executive - Independent Director-Shareholder Director
Ms. PUSHPA ROBINNon-Executive - Independent Director-Shareholder Director
Ms. Disha M. Punjani

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Ambalal Sarabhai Enterprises Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

8 announcementsExport CSV

14 Aug 2026, 3:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

13 Aug 2026, 5:49 pmCompany Update

Submission Of Quarterly Snapshots

General PDF

31 Jul 2026, 3:26 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

30 Jul 2026, 12:54 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

13 Jul 2026, 11:27 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

8 Jul 2026, 4:20 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

7 Jul 2026, 10:24 amOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

3 Jul 2026, 4:36 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

Date	Category	Subject	Filing
14 Aug 2026, 3:49 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
13 Aug 2026, 5:49 pm	Company Update General	Submission Of Quarterly Snapshots

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Ratio	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	43.6%	44.1%	46.3%	48.2%	39.6%	41.8%	41.1%	50.6%
EBITDA margin %	-8.2%	-9.4%	-1.1%	12.7%	5%	3.6%	4.1%	5.8%
EBIT margin %	-11.3%	-11.1%	-2.6%	11.5%	3.4%	1.6%	2.1%	3.9%
PAT margin %	-13.4%	1%	17.9%	24%	6.5%	3.3%	2.5%	8.8%
Working capital
Receivable days	—	—	87	—	58	55	82	86
Inventory days	—	—	66	—	62	58	75	81
Payable days	—	—	2	—	131	133	158	149
NWC days	—	—	151	—	-11	-19	-2	19
Leverage
Current ratio	—	—	0.94	—	1.23	1.16	0.98	1.27
Debt to EBITDA	—	—	—	—	4.68	7.13	6.01	4.39
Debt to equity	—	—	0.37	—	0.31	0.33	0.35	0.33
Interest coverage	-2	3.3	8.9	38	7.5	3.5	3.6	5.6
Asset turnover	—	—	0.78	—	0.69	0.69	0.73	0.72
Return ratios
Return on assets %	—	—	14%	—	4.5%	2.3%	1.8%	6.3%
Return on capital employed %	—	—	32.4%	—	12.2%	8.8%	10.4%	13.8%
Return on equity %	—	—	39.7%	—	8.5%	4.1%	3.5%	11.2%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

Ambalal Sarabhai Enterprises Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Ambalal Sarabhai Enterprises Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1