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Fdc Limited (FDC) · mywealthgrid

About

FDC Limited operates in pharmaceuticals with a market cap of ₹5,766 Cr and zero debt (D/E 0). Recent quarters show revenue of ₹661 Cr (Jun 2026) and operating margin of 21.8%, a significant recovery from 7-11% margins in Sep-Dec 2025. The company is promoter-led with 69.66% shareholding and has maintained dividend payments, though stock has fallen 25.74% over one year.

Face value: ₹1

Market cap

₹5,468 Cr

P/E

18.7×

P/B

2.2×

Dividend yield

1.5%

ROE

11.8%

ROCE

16.3%

Debt / equity

OPM

15.9%

EPS (TTM)

₹18.0

Book value

₹152.6

52-week high

₹465.7

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin volatility: OPM ranged from 7-11% (Sep-Dec 2025) to 21.8% (Jun 2026); verify causes of compression and sustainability of recent recovery
FII shareholding halved from 2.4% (Mar 2026) to 1.4% (Jun 2026) in one quarter; verify reasons for institutional exit
Stock declined 25.74% over 1 year despite recent recovery; verify drivers of decline and sustainability of ₹486+ recovery
Pharma sector regulatory and competitive pressures; verify exposure to price controls, compliance risks, and generic competition

Generated analysis · source review pending

Growth drivers

Revenue grew to ₹661 Cr (Jun 2026) from ₹467 Cr (Sep 2025), a 41% sequential increase; verify what drove this and whether sustainable
Operating margin expanded to 21.8% from 7.6% (Sep 2025), a 14.2pp improvement; verify if driven by operational improvements or one-time items
Zero debt position (D/E 0) enables balance-sheet deployment; verify capital allocation strategy for growth investments
Recent dividend payment (Feb 2026) indicates cash generation; verify payout policy and reinvestment approach

Generated analysis · source review pending

₹335.9-26%1Y

Beta

0.81

Moves with the index

Volatility (1y)

29.5%

Annualised, daily returns

RSI (14)

43.2

Neither overbought nor oversold

Rel. strength (1y)

-36.4%

Behind the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 80.2×
+Dividend payout of 27.8% of profit
+High promoter holding of 69.7% with no pledge

Cons

−Profit declined 1.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

42/100

Business quality: 60
Growth: 35
Valuation

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

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

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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 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,017	1,051	1,083	1,083	1,344	1,333	1,528	1,784	1,943	2,108	2,171
COGS	358	338	352	352	426	414	530	656	656	736	711
Gross profit	660	713	731	731	918	919	998	1,128	1,287	1,372	1,460
	431	470	504	504	627	585	744	877	948	1,047	1,114
	229	243	227	227	292	334	254	251	339	325	346
OPM %	22.5%	23.2%	20.9%	20.9%	21.7%	25.1%	16.6%	14.1%	17.4%	15.4%	15.9%
Depreciation	34	35	35	35	37	38	37	39	40	54	59
Interest	1	1	1	1	3	3	3	4	4	5	5
	45	50	52	50	69	95	76	50	102	91	93
Profit before tax	232	252	241	241	320	388	289	258	396	357	375
Tax	63	63	67	67	80	87	73	64	91	90	93
Tax %	27.3%	25.1%	27.9%	27.9%	25%	22.3%	25.3%	24.8%	23%	25.3%	24.9%
	169	189	174	174	240	301	216	194	305	267	281
PAT margin %	16.6%	17.9%	16%	16%	17.9%	22.6%	14.2%	10.9%	15.7%	12.7%	13%
EPS (₹)	9.5	10.6	9.8	9.8	13.9	17.7	12.8	11.7	18.6	16.4	17.3
EPS adjusted (₹)	9.4	10.6	9.9	9.9	14	17.9	0.4	11.7	18.8	16.4	17.3
	23.7%	21.2%	0%	0%	5.7%	0%	0%	0%	0%	30.5%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	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	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	18	18	18	18	17	17	17	17	16	16	16
Reserves	992	1,252	1,259	1,428	1,530	1,717	1,940	1,965	2,081	2,265	2,469
	1	1	1	0	0	1	1	1	0	0	0
	162	197	229	194	265	221	313	360	371	433	434
Total equity & liabilities	1,172	1,468	1,505	1,640	1,813	1,956	2,270	2,343	2,468	2,714	2,919
	393	678	674	682	661	689	705	699	680	852	956
CWIP	29	3	10	12	24	19	105	198	261	136	96
Investments	514	491	471	585	665	790	886	806	843	1,028	1,048
	236	296	350	360	464	458	575	641	684	698	819
Total assets	1,172	1,468	1,505	1,640	1,813	1,956	2,270	2,343	2,468	2,714	2,919

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	67.5%	68.3%	68.9%	65.3%	63.2%	66.2%	65.1%	67.3%
EBITDA margin %	20.9%	21.8%	25.1%	16.6%	14.1%	17.4%	15.4%	15.9%
EBIT margin %	17.7%	19%	22.2%	14.2%	11.9%	15.4%	12.9%	13.2%
PAT margin %	16%	17.9%	22.6%	14.2%	10.9%	15.7%	12.7%	13%
Working capital
Receivable days	29	34	30	20	25	22	19	26
Inventory days	180	180	189	210	183	216	186	182
Payable days	80	101	68	94	99	103	102	106
NWC days	129	113	152	135	109	135	103	102
Leverage
Current ratio	4.13	3.76	4.57	3.68	3.42	3.58	3	3.11
Debt to EBITDA	0	0	0	0	0	0	0	0
Debt to equity	0	0	0	0	0	0	0	0
Interest coverage	173.2	94.9	114.7	94.7	64	99.3	80.2	80.2
Asset turnover	0.66	0.74	0.68	0.67	0.76	0.79	0.78	0.74
Return ratios
Return on assets %	10.6%	13.2%	15.4%	9.5%	8.3%	12.4%	9.8%	9.6%
Return on capital employed %	17.6%	21.4%	23.7%	15.6%	13%	19.1%	16%	16.3%
Return on equity %	12%	15.5%	17.4%	11%	9.8%	14.5%	11.7%	11.3%

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
	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%	69.66%
	2.42%	2.43%	2.65%	2.51%	2.62%	2.67%	2.55%	2.41%	2.43%	2.32%	2.4%	1.4%
	8.12%	7.76%	6.94%	6.73%	6.03%	6.08%	6.37%	7.17%	6.82%	6.27%	6.29%	6.31%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	19.8%	20.15%	20.75%	21.1%	21.69%	21.59%	21.42%	20.76%	21.09%	21.75%	21.65%	22.63%
No. of shareholders	—	—	—	—	—	—	—	—	54,157	53,788	52,730	55,045

Promoter holding up 0 percentage points since Sep 2023.

2 deals · 12 Sept 2024 – 12 Sept 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
12 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	10,75,388	₹631.46	₹67.91 Cr
12 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	10,75,388	₹631.92	₹67.96 Cr

1–2 of 2

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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. Mohan Anand ChandavarkarExecutive Director-Chairperson related to Promoter-MD
Mr. Nandan Mohan ChandavarkarExecutive Director
Mr. Ashok Anand ChandavarkarExecutive Director
Mr. Ameya Ashok ChandavarkarExecutive Director
Ms. Nomita Ramdas ChandavarkarNon-Executive - Non Independent Director
Mr. Mahesh Chandru BijlaniNon-Executive - Independent Director
Mr. Vijay Suresh ManiarNon-Executive - Independent Director
Mr. Vijay Nautamlal BhattNon-Executive - Independent Director
Ms. Charuta Nityanath MandkeNon-Executive - Independent Director
Mr. Kishore Mukund SaletoreNon-Executive - Independent Director
Mr. Vishal D ShahChief Financial Officer

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F&O

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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.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

6.14%

of the company's equity

All mutual funds

6.25%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

10 schemes · 4 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	42.75 L	144.16	0.17%	2.626%	-0
Small Cap FundNEW	ICICI Prudential Mutual Fund	16.63 L	56.07	0.57%	1.021%	—
Healthcare FundNEW	ICICI Prudential Mutual Fund	12.82 L	43.22	0.62%	0.787%	—
INDIA PHARMA & HEALTHCARE FUND	Tata Mutual Fund	9.76 L	32.9	2.1%	0.599%	+76,851
ESG Exclusionary Strategy Fund	ICICI Prudential Mutual Fund	6.59 L	22.23	1.64%	0.405%	-0
Retirement Fund - Pure Equity Plan	ICICI Prudential Mutual Fund	5.49 L	18.52	0.86%	0.337%	+2.55 L
MNC Fund	ICICI Prudential Mutual Fund	4.87 L	16.41	0.91%	0.299%	-0
Bharat Consumption Fund	ICICI Prudential Mutual Fund	1.04 L	3.52	0.11%	0.064%	-35,000

1–8 of 10

1 / 2

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Documents

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

Announcements

Annual reports

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

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Events

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

13

Interim dividend11 Feb 2026 · ex-date₹5
Interim dividend22 Nov 2024 · ex-date₹5
Interim dividend19 Mar 2020 · ex-date₹0.8
Dividend dividend8 Aug 2017 · ex-date₹2.25
Interim dividend17 Mar 2016 · ex-date₹2.25
Final dividend23 Sept 2015 · ex-date₹2.25
Final dividend28 Jul 2014 · ex-date₹2.25
Final dividend20 Aug 2013 · ex-date₹2.25
Final dividend6 Aug 2012 · ex-date₹2
Dividend dividend13 Sept 2011 · ex-date₹2
Dividend dividend10 Aug 2010 · ex-date₹1.75
Dividend dividend17 Aug 2009 · ex-date₹1.25
Dividend dividend18 Aug 2008 · ex-date₹1

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

67 announcementsExport CSV

27 May 2026, 3:13 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On May 27, 2026

Outcome of Board Meeting

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Date	Category	Subject	Filing
27 May 2026, 3:13 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting Held On May 27, 2026	PDF
18 May 2026, 11:06 am	Board Meeting	Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Wednesday, May 27, 2026.	PDF
18 May 2026, 10:45 am	Company Update General	Announcement Under Regulation 30 - ANDA Approval	PDF
13 May 2026, 4:25 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
13 May 2026, 2:44 pm	AGM/EGM Postal Ballot	Newspaper Publication - Corrigendum In Respect Of Postal Ballot Notice Dated 21St April, 2026	PDF
9 May 2026, 3:34 pm	AGM/EGM Postal Ballot	Corrigendum To Postal Ballot Notice Dated April 21, 2026	PDF
24 Apr 2026, 12:51 pm	Company Update General	Confirmation Regarding Company Not Falling Under Large Corporate Criteria As On March 31, 2026	PDF
24 Apr 2026, 12:29 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	174	154	150	112	250	207	162	155	221	318	200
	-73	-144	20	-120	-98	-77	-145	11	-17	-200	-110
	-97	0	-169	-0	-142	-129	-10	-180	-202	-92	-93
Net cash flow	4	11	1	-8	10	1	7	-14	2	26	-3
Free cash flow	-134	128	113	70	219	145	29	42	127	221	14
CFO / Operating profit %	76.2%	63.5%	66.1%	49.6%	85.5%	62%	63.7%	61.7%	65.2%	97.8%	57.9%

Fdc Limited

Fdc 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

Documents

Announcements

Annual reports

Events

13

1

Announcements

13

1

Not in the F&O segment

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

Fdc Limited

Fdc Limited

About

Key insights

Key risks

Growth drivers

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

Dividends13

Board meetings1

Announcements

Dividends13

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

13

1

13

1