Bharat Parenterals Ltd (BPLPHARMA)

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Bharat Parenterals Ltd (BPLPHARMA) · mywealthgrid

About

Bharat Parenterals Ltd operates in pharmaceuticals with market cap ₹931.12 Cr. Paid dividends through 2025 but operating performance has deteriorated significantly. Latest results (Aug 5, 2026) will clarify recovery status.

Face value: ₹10

Market cap

₹1,187 Cr

P/E

72.2×

P/B

3.6×

Dividend yield

0.1%

ROE

-16.5%

ROCE

-5.6%

Debt / equity

0.55

OPM

0.8%

EPS (TTM)

₹23.9

Book value

₹479.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin collapse: OPM fell 94% from 15.72% (Dec 2019) to 0.79%; ROE -16.55% — verify if structural or temporary, and recovery feasibility
Revenue decline: Fell from ₹73.6 Cr (Dec 2019) to ₹40.62 Cr (Mar 2021) — verify if post-2021 stabilization has occurred
Valuation mismatch: PE 56.64 elevated relative to negative profitability; limited margin for error if recovery stalls
Negative momentum: -6.79% 1yr return despite range ₹890–₹1,530 — verify if latest results show reversal

Generated analysis · source review pending

Growth drivers

Margin recovery potential: OPM collapsed 15.72% → 0.79% — recovery halfway would add ~₹3.7 Cr annual profit; must verify root causes are addressable
Parenteral segment positioning: Injectables have pricing power and barriers to entry vs. oral generics — verify company's competitive position and market share
Revenue stabilization: Declined ₹73.6 Cr (Dec 2019) → ₹40.62 Cr (Mar 2021) — recovery to prior peak would reduce fixed-cost burden
Latest quarterly results (Aug 5, 2026) needed to confirm stabilization trajectory — provided data ends 2021

Generated analysis · source review pending

2,018 historical price candles were omitted because the exchange source has not been verified.

₹1,720.4-10.7%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 17.1% over the last 3 years
+High promoter holding of 67.2% with no pledge

Cons

−Low return on equity of 4.3% (3-yr avg)
−Thin operating margin of 0.8%
−Weak interest coverage of -1.6×
−Expensive at 72.2× trailing earnings
−Low dividend payout of 8.4% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 15
Growth: 68

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 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	205	212	218	261	340
COGS	134	136	137	158	185
Gross profit	70	76	81	103	155
	46	48	61	76	152
Operating profit (EBITDA)	25	28	20	27	3
OPM %	12.2%	13%	9.1%	10.4%	0.8%
Depreciation	6	7	6	9	35
Interest	0	1	2	4	13
	9	8	12	5	12
Profit before tax	27	28	24	19	-34
Tax	7	7	8	8	10
Tax %	25.1%	25.3%	33.3%	43.9%	28.6%
	20	21	16	11	-44
PAT margin %	9.9%	9.8%	7.2%	4%	-12.8%
EPS (₹)	35.6	36.7	28.4	24.9	-66.6
EPS adjusted (₹)	35.5	36.1	28.5	18.1	-63.4
	0%	0%	2.6%	4%	—
Annual report	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

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	6	6	6	6	6	7
Reserves	—	138	160	—	191	324
Minority interest	—	—	0	—	41	8
	—	12	18	—	158	180
	—	43	42	—	108	129
Total equity & liabilities	—	199	226	—	504	649
	32	43	40	41	210	251
CWIP	—	0	26	—	24	30
Investments	—	44	13	—	1	6
	—	111	148	—	270	361
Total assets	—	199	226	—	504	649

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	24	-1	22	-5	-27
	-43	-7	-78	-105	-137
	11	9	61	110	156
Net cash flow	-8	2	4	1	-8
Free cash flow	24	-40	—	-109	-56
CFO / Operating profit %	98.3%	-3.9%	109%	-17.4%	—

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	34.4%	35.8%	36.9%	39.4%	45.5%
EBITDA margin %	12.2%	13%	9.1%	10.4%	0.8%
EBIT margin %	9.2%	9.9%	6.4%	6.9%	-9.6%
PAT margin %	9.9%	9.8%	7.2%	4%	-12.8%
Working capital
Receivable days	121	126	—	198	184
Inventory days	61	56	—	142	142
Payable days	71	64	—	137	146
NWC days	111	118	—	202	180
Leverage
Current ratio	3.39	3.46	—	1.38	1.62
Debt to EBITDA	0.49	0.64	—	5.82	66.74
Debt to equity	0.09	0.11	—	0.8	0.54
Interest coverage	70.6	32.3	11.8	5.7	-1.6
Asset turnover	1.03	0.94	—	0.52	0.52
Return ratios
Return on assets %	10.2%	9.2%	—	2.1%	-6.7%
Return on capital employed %	17.8%	16.9%	—	7.2%	-5.6%
Return on equity %	14.1%	12.5%	—	5.3%	-13.2%

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
	73.84%	73.84%	73.27%	73.27%	65.35%	67.2%	67.2%	67.19%	67.19%	67.19%	67.17%	67.2%
	0%	0%	0%	0%	0.08%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%
	0.01%	0.01%	0.01%	0.01%	0.57%	0.54%	0.54%	0.54%	0.54%	0.54%	1.06%	1.37%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.15%	26.15%	26.72%	26.72%	34%	32.15%	32.15%	32.16%	32.16%	32.16%	31.66%	31.32%
No. of shareholders	—	—	—	—	—	—	—	—	3,205	3,172	3,095	3,059

Promoter holding down 6.64 percentage points since Sep 2023.

2 deals · 28 Feb 2025 – 28 Feb 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Feb 2025	SETU SECURITIES PRIVATE LIMITED	Bulk	BSE	Buy	75,271	₹878.00	₹6.61 Cr
28 Feb 2025	NEO APEX SHARE BROKING SERVICES LLP	Bulk	BSE	Sell	75,271	₹878.00	₹6.61 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. BHARATKUMAR RAMESHCHANDRA DESAIExecutive Director-Chairperson related to Promoter-MD
Jignesh ShahChief Financial Officer
Mr. HEMANG JAYENDRABHAI SHAHExecutive Director
Mr. SHAILESHKUMAR GHABHAWALANon-Executive - Independent Director
Mrs. ZANKHANA BIMALKUMAR SHETHNon-Executive - Independent Director
Mr. MUKESHBHAI JIVRAJBHAI PATELNon-Executive - Independent Director
Mr. ALKESH JAYANTILAL SHAHNon-Executive - Non Independent Director
Mr. Sharmin SoniCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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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 Bharat Parenterals Ltd. 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

Annual reports

Investor Presentation and earnings call

May 2026Transcript AI Summary PPT REC
Nov 2025Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

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

4

Final dividend11 Sept 2026 · ex-date₹1
Final dividend19 Sept 2025 · ex-date₹1
Final dividend25 Jun 2024 · ex-date₹1
Final dividend25 Sept 2023 · ex-date₹0.75

1

Board meeting to consider results5 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

19 announcementsExport CSV

1 Oct 2026, 5:39 pmAGM/EGM

Intimation For Extra-Ordinary General Meeting Of The Company To Be Held On Friday, October 23, 2026.

EGM PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	34.4%	35.8%	36.9%	39.4%	45.5%
EBITDA margin %	12.2%	13%	9.1%	10.4%	0.8%
EBIT margin %	9.2%	9.9%	6.4%	6.9%	-9.6%
PAT margin %	9.9%	9.8%	7.2%	4%	-12.8%
Working capital
Receivable days	121	126	—	198	184
Inventory days	61	56	—	142	142
Payable days	71	64	—	137	146
NWC days	111	118	—	202	180
Leverage
Current ratio	3.39	3.46	—	1.38	1.62
Debt to EBITDA	0.49	0.64	—	5.82	66.74
Debt to equity	0.09	0.11	—	0.8	0.54
Interest coverage	70.6	32.3	11.8	5.7	-1.6
Asset turnover	1.03	0.94	—	0.52	0.52
Return ratios
Return on assets %	10.2%	9.2%	—	2.1%	-6.7%
Return on capital employed %	17.8%	16.9%	—	7.2%	-5.6%
Return on equity %	14.1%	12.5%	—	5.3%	-13.2%

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

Date	Category	Subject	Filing
1 Oct 2026, 5:39 pm	AGM/EGM EGM	Intimation For Extra-Ordinary General Meeting Of The Company To Be Held On Friday, October 23, 2026.	PDF
29 Sept 2026, 4:22 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting For The Board Approves The Preferential Issue.	PDF
19 Sept 2026, 4:57 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
19 Sept 2026, 1:51 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
14 Sept 2026, 11:06 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
28 Aug 2026, 11:25 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
27 Aug 2026, 5:17 pm	Company Update General	Intimation Under Regulation 36 Of The SEBI (LODR) Regulations, 2015.	PDF
27 Aug 2026, 5:10 pm	Corp. Action Record Date	Intimation Of The Record Date For The Purpose Of The Dividend For FY 2025-26.	PDF

Bharat Parenterals Ltd

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

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends4

Board meetings1

Announcements

Dividends4

Board meetings1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

4

1

4

1