Divi's Laboratories (DIVISLAB)

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Divi's Laboratories (DIVISLAB) · mywealthgrid

About

Divi's Laboratories is a pure-play API and custom-synthesis manufacturer for global pharmaceutical innovators. The company operates at scale—₹2.25 lakh crore market cap, ₹2,600–3,100 crore quarterly revenue, 32–41% operating margins—with recent EPS growth of 54% in six months. The stock has returned 38% over the past year.

Founded: 1990
Face value: ₹2

Market cap

₹2,45,561 Cr

P/E

84.0×

P/B

14.6×

Dividend yield

0.6%

ROE

16.2%

ROCE

20.8%

Debt / equity

OPM

32.6%

EPS (TTM)

₹110.4

Book value

₹632.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation risk: PE of 76.95 leaves little margin for earnings disappointment or slowed growth
Margin compression: Operating margins have ranged 32–41% recently; researcher should verify what controls margins and sensitivity to competitive pricing or input costs
Customer concentration: Data does not disclose customer base; verify whether a small number of large pharma clients pose material revenue concentration risk
Pharma-cycle exposure: API demand depends on global R&D budgets and outsourcing trends; researcher should track industry demand signals

Generated analysis · source review pending

Growth drivers

Recent earnings growth: EPS expanded 54% in six months, from ₹21.98 (Dec 2025) to ₹33.95 (Jun 2026)
Sustained operating margins: OPM maintained at 32–41% range across recent quarters on revenue of ₹2,600–3,100 crore per quarter
Cash generation: Annual dividends declared 2022–2026 reflect cash flow; researcher should verify dividend sustainability and capex plans
Global custom-synthesis demand: Researcher should verify whether specialized synthesis market is growing and whether DIVISLAB is gaining global market share

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹9,249.0-1.9%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 32.6%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 151.5×
+Dividend payout of 54.5% of profit

Cons

−Modest revenue growth of 8.7% a year over the last 5 years
−Expensive at 84× trailing earnings
−Trading at 14.6× book value

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 78
Growth: 71

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.

Part ofNIFTY NEXT 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Sun Pharmaceutical IndustriesSUNPHARMASUNPHARMA	₹4,32,240 Cr	₹4,36,322 Cr	₹59,911 Cr	₹17,847 Cr	30.3%	₹12,096 Cr	19.7%	20.9%	14.7%	228
Divi's LaboratoriesDIVISLABDIVISLAB	₹2,45,561 Cr	₹2,45,561 Cr	₹11,230 Cr	₹3,967 Cr	32.6%	₹2,925 Cr	24.3%	20.8%	16.2%	348
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
Apollo Hospitals EnterpriseAPOLLOHOSPAPOLLOHOSP	₹1,16,960 Cr	₹1,22,618 Cr	₹26,430 Cr	₹4,010 Cr	14.9%	₹2,090 Cr	7.9%	19.4%	21.9%	3
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
CiplaCIPLACIPLA	₹1,08,864 Cr	₹1,09,122 Cr	₹28,324 Cr	₹5,297 Cr	20.9%	₹3,371 Cr	13.7%	16.5%	11.8%	202
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
Dr. Reddy's LaboratoriesDRREDDYDRREDDY	₹1,00,682 Cr	₹1,06,975 Cr	₹33,228 Cr	₹5,140 Cr	19.2%	₹3,222 Cr	12.3%	14.8%	11.7%	247
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
Max Healthcare Institute LimitedMAXHEALTHMAXHEALTH	₹91,573 Cr	₹95,052 Cr	₹8,712 Cr	₹2,318 Cr	26.8%	₹1,457 Cr	17.2%	13.8%	14.3%	-110

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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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,394	6,969	8,960	7,768	7,845	9,360	10,560
COGS	2,109	2,324	2,967	3,054	3,129	3,725	4,093
Gross profit	3,286	4,645	5,993	4,714	4,716	5,635	6,467
	1,464	1,785	2,111	2,346	2,511	2,667	3,026
	1,822	2,860	3,882	2,368	2,205	2,968	3,441
OPM %	33.8%	41%	43.3%	30.5%	28.1%	31.7%	32.6%
Depreciation	186	256	312	343	378	402	463
Interest	6	1	1	1	3	2	23
	190	63	114	345	339	352	433
Profit before tax	1,819	2,666	3,684	2,369	2,163	2,916	3,388
Tax	443	682	723	545	563	725	820
Tax %	24.3%	25.6%	19.6%	23%	26%	24.9%	24.2%
	1,377	1,984	2,960	1,823	1,600	2,191	2,568
PAT margin %	25.5%	28.5%	33%	23.5%	20.4%	23.4%	24.3%
EPS (₹)	51.9	74.8	111.5	68.7	60.3	82.5	96.8
EPS adjusted (₹)	51.9	74.8	111.5	68.7	60.4	82.7	96.9
	30.9%	26.8%	26.9%	43.7%	49.8%	36.4%	31%
Annual report	Annual report for Mar 2020	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 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	53	53	53	53	53	53	53	53	53	53
Reserves	3,469	5,356	5,907	—	9,242	11,675	12,714	13,518	14,916	16,708
	42	36	63	—	0	0	0	0	2	0
	1,405	765	785	—	1,479	1,647	1,672	1,899	1,961	3,272
Total equity & liabilities	4,968	6,210	6,808	—	10,774	13,375	14,439	15,470	16,932	20,033
	1,439	1,559	1,996	2,782	3,704	4,325	4,723	4,739	5,441	6,528
CWIP	264	444	120	—	711	470	212	778	1,022	2,113
Investments	803	1,639	1,897	—	0	72	77	82	65	69
	2,463	2,568	2,795	—	6,360	8,508	9,427	9,871	10,404	11,323
Total assets	4,968	6,210	6,808	—	10,774	13,375	14,439	15,470	16,932	20,033

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	60.9%	66.7%	66.9%	60.7%	60.1%	60.2%	61.2%
EBITDA margin %	33.8%	41%	43.3%	30.5%	28.1%	31.7%	32.6%
EBIT margin %	30.3%	37.4%	39.8%	26.1%	23.3%	27.4%	28.2%
PAT margin %	25.5%	28.5%	33%	23.5%	20.4%	23.4%	24.3%
Working capital
Receivable days	—	88	99	84	100	106	103
Inventory days	—	337	348	359	371	317	353
Payable days	—	120	98	91	96	89	108
NWC days	—	305	349	352	376	334	348
Leverage
Current ratio	—	5.55	6.99	8.46	7.57	6.94	5.43
Debt to EBITDA	—	0	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0
Interest coverage	299.3	3,065.4	4,605.4	3,536.3	722	1,459	151.5
Asset turnover	—	0.65	0.67	0.54	0.51	0.55	0.53
Return ratios
Return on assets %	—	18.4%	22.1%	12.6%	10.3%	12.9%	12.8%
Return on capital employed %	—	27.6%	33.7%	18.6%	15.7%	19.7%	20.8%
Return on equity %	—	21.3%	25.2%	14.3%	11.8%	14.6%	15.3%

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
	51.93%	51.92%	51.92%	51.9%	51.89%	51.89%	51.89%	51.89%	51.89%	51.88%	51.88%	51.88%
	14.6%	14.86%	14.68%	16.16%	17.25%	17.99%	18.01%	19.74%	19.39%	20.08%	20.29%	20.2%
	21.75%	21.88%	22.21%	21.77%	21.06%	20.54%	20.71%	19.05%	19.67%	19.19%	19.13%	19.29%
	0%	0%	0%	0%	0%	0%	0%	0%	0.09%	0.09%	0.09%	0.09%
	11.72%	11.34%	11.19%	10.17%	9.8%	9.58%	9.39%	9.32%	8.96%	8.76%	8.61%	8.54%
No. of shareholders	—	—	—	—	—	—	—	—	2,49,634	2,33,844	2,28,006	2,26,324

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F&O

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

End of day 30 Sept 2026 · underlying ₹9,291.5 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹9,336.0	-207.5	-2.2%	₹9,336.0	38,649	+5	4,325	100
23 Nov 2026	₹9,386.0	-198	-2.1%	₹9,386.0	4,640	+102	308	100
29 Dec 2026	₹9,418.5	-153	-1.6%	₹9,418.5	15	+15	22	100

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Fund holders

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

Portfolio month

Schemes holding

181

across 23 fund houses

Held by these funds

8.22%

of the company's equity

All mutual funds

13.87%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

181 schemes · 23 fund houses

		Shares
Large Cap Fund	SBI Mutual Fund	20.32 L	1,923.72	3.49%	0.765%	-0
Aggressive Hybrid FundNEW	SBI Mutual Fund	19 L	1,798.73	2.03%	0.716%	—
Focused Fund	SBI Mutual Fund	15.7 L	1,486.32	2.9%	0.591%	-0
ELSS- Tax Saver Fund	Axis Mutual Fund	9.36 L	886.21	2.71%	0.353%	-0
LARGE CAP FUND	Nippon India Mutual Fund	8.61 L	815.29	1.51%	0.324%	-0
Large Cap Fund	Axis Mutual Fund	8.56 L	810.49	2.58%	0.322%	-0
MultiCap Fund	SBI Mutual Fund	8.5 L	804.7	3.28%	0.32%	-0
Large and Midcap Fund	SBI Mutual Fund	8.3 L	785.76	1.86%	0.313%	-0

1–8 of 181

1 / 23

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Documents

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

Announcements

Loading documents…

Events

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

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

55 announcementsExport CSV

31 Jul 2026, 9:13 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

24 Jul 2026, 10:29 amCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

20 Jul 2026, 8:59 amBoard Meeting

Board Meeting Intimation for Considering And Approving The Unaudited Financial Results Of The Company For The Quarter Ended June 30, 2026.

Exchange filing PDF

17 Jul 2026, 12:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

15 Jul 2026, 5:44 pmAGM/EGM

Notice Of 36Th Annual General Meeting To Be Held On August 10, 2026

AGM PDF

15 Jul 2026, 5:41 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

15 Jul 2026, 2:48 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

13 Jul 2026, 11:55 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
31 Jul 2026, 9:13 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
24 Jul 2026, 10:29 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	60.9%	66.7%	66.9%	60.7%	60.1%	60.2%	61.2%
EBITDA margin %	33.8%	41%	43.3%	30.5%	28.1%	31.7%	32.6%
EBIT margin %	30.3%	37.4%	39.8%	26.1%	23.3%	27.4%	28.2%
PAT margin %	25.5%	28.5%	33%	23.5%	20.4%	23.4%	24.3%
Working capital
Receivable days	—	88	99	84	100	106	103
Inventory days	—	337	348	359	371	317	353
Payable days	—	120	98	91	96	89	108
NWC days	—	305	349	352	376	334	348
Leverage
Current ratio	—	5.55	6.99	8.46	7.57	6.94	5.43
Debt to EBITDA	—	0	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0
Interest coverage	299.3	3,065.4	4,605.4	3,536.3	722	1,459	151.5
Asset turnover	—	0.65	0.67	0.54	0.51	0.55	0.53
Return ratios
Return on assets %	—	18.4%	22.1%	12.6%	10.3%	12.9%	12.8%
Return on capital employed %	—	27.6%	33.7%	18.6%	15.7%	19.7%	20.8%
Return on equity %	—	21.3%	25.2%	14.3%	11.8%	14.6%	15.3%

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
S. RAMA KRISHNAEmployees/Designated Employees	SellGift	7,500	₹4.52 cr	0.01% → 0.00%	11 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

46 deals · 11 Aug 2021 – 9 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
9 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	33,108	₹6,120.50	₹20.26 Cr
9 Oct 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	33,108	₹6,120.50	₹20.26 Cr
14 Jul 2025	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MTBJ400045828	Block	NSE	Sell	21,874	₹6,835.00	₹14.95 Cr
14 Jul 2025	THE MTBJ LTD.AS TRST FOR GOVERNMENT PENSION INVESTMENT FUND MTBJ400045849	Block	NSE	Buy	21,874	₹6,835.00	₹14.95 Cr
6 Nov 2024	PRAZIM TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Block	NSE	Sell	80,324	₹5,979.65	₹48.03 Cr
6 Nov 2024	PI OPPORTUNITIES AIF V LLP	Block	NSE	Buy	80,324	₹5,979.65	₹48.03 Cr
20 Oct 2023	RONDURE NEW WORLD FUND	Block	BSE	Sell	43,478	₹3,637.70	₹15.82 Cr
20 Oct 2023	NORTHERN LIGHTS FUND TRUST III RONDURE NEW WORLD FUND	Block	BSE	Buy	43,478	₹3,637.70	₹15.82 Cr
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	2,09,124	₹3,271.40	₹68.41 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	2,09,124	₹3,271.40	₹68.41 Cr

1–10 of 46

1 / 5

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.

26

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
123	0	10	₹1,325.0	8,000	₹10.8	734	+329	462
1	0	0	₹1,380.0	8,200	₹0.0	0	0	0
9	0	0	₹1,335.0	8,300	₹22.7	66	+32	32
4	0	0	₹1,150.0	8,400	₹28.4	757	+418	435
51	0	11	₹881.0	8,500	₹37.6	834	+72	1,392
15	0	0	₹1,000.0	8,600	₹47.9	142	+44	62
52	+1	6	₹696.0	8,700	₹61.6	319	+26	220
8	0	0	₹791.9	8,800	₹79.0	312	+53	173

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,038	1,150	776	1,947	1,912	2,460	1,261	1,653	2,738
	-413	-1,140	-478	75	-2,195	-2,708	-269	-804	-2,219
	-624	2	-314	-35	-532	-797	-799	-799	-804
Net cash flow	—	13	-17	1,987	-816	-1,045	193	50	-285
Free cash flow	642	—	—	1,037	1,199	1,987	258	215	218
CFO / Operating profit %	—	—	—	68.1%	49.3%	103.9%	57.2%	55.7%	79.6%

Divi's Laboratories

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Events

Announcements

Announcements

3

Annual reports

Credit ratings

Investor Presentation and earnings call

19

1

2

26

Compounded sales growth

Compounded profit growth

Return on equity

Divi's Laboratories

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Announcements

Quarterly record

Futures3

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends19

Board meetings1

Bonus issues2

Insider dealing

Bulk & block deals

Board and management

Option chain26

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

3

19

1

2

26