Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 18 Sep - ROC imposed Rs.1.88 lakh penalty on AstraZeneca Pharma and Rs.50,000 each on former officers for delayed MR-2 filing.
Source: Bse
AstraZeneca Pharma India Limited (ASTRAZEN)
Small CapPharma stocks · Small cap · NSE
AstraZeneca Pharma India Limited is the Indian subsidiary of the British multinational pharmaceutical company AstraZeneca. It focuses on specialist-driven therapy areas like oncology, biopharmaceuticals, and rare diseases, leveraging science and innovation to improve patient outcomes in India.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:42 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
54Neutralfull bear SMA stack · SMA20 -11.4% / mo · MACD + · near 52W low · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 24
Sector RS: 98
Sector 3M: -1.8% vs Nifty 500 -5.6%
Pharma FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
ASTRAZEND candles · FIT view-28.9%Latest close ₹6039.50 on 2026-10-19
Bar
+1.3%
RSI
37
MACD hist
40.47
52W pos
9%
2026-10-19O ₹5960.00H ₹6075.00L ₹5850.00C ₹6039.50Vol 13,651 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ASTRAZENNifty PharmaNifty 500
- ASTRAZEN
- -25.0%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- -19.4 pp
Chart stats
19 Oct 2026- From 52W high
- -38.7%
- 52W range position
- 9%
- ATR (14)
- 2.8%
- Volume vs 20D
- 1.18x
- Avg traded value
- ₹7.3 Cr
- 20D price channel
- ₹5,640 - ₹6,783
₹9,849.5
₹5,640 - ₹9,849.5
₹170.3
Latest completed session
20-session average
25.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST43
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +29.9% · PAT -32.1% YoY
Technical
Neutral54
Price trend and sector-relative-strength timing.
Valuation
Legacy model-97.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence78
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -32% YoY · margin compression · Rev +30% YoY · +18% QoQ
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹683 Cr | +29.9% | +18.0% |
| EBITDA | ₹49 Cr | -39.5% | -19.7% |
| Operating margin | 7.0% | -800 bps | -400 bps |
| PAT | ₹38 Cr | -32.1% | -15.6% |
| PAT margin | 5.6% | -509 bps | -221 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 85.20
- P/B
- 16.93
- EV/EBITDA
- 60.26
- Market Cap
- 14772.00Cr
Profitability
- ROE
- 23.30%
- ROCE
- 29.30%
- ROA
- 11.20%
- Dividend Y
- 0.61%
Growth (CAGR)
- Revenue 5Y
- 23.00%
- EPS 5Y
- 16.00%
- Revenue 3Y
- 31.00%
- EPS 3Y
- 15.00%
Balance Sheet
- Debt/Equity
- 0.13
- Interest Coverage
- 38.33×
- Altman Z
- 9.11
- Book Value
- 349.00
Cash Flow
- FCF Yield
- 0.03%
- FCF Positive Y
- 9/5
- OCF
- -15.00 Cr
- EPS TTM
- 67.85
Shareholding
- Promoter Hold
- 75.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 2,276+32.6% vs prev
Net Profit
₹ CrLatest: 188+62.1% vs prev
Return on Equity
%Latest: 21.5+43.0% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 37. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~12.9% over last month) — short-term momentum negative.
- RSI(14) at 37 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 39% off 52W high · 7% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
14
RS percentile
Stage 4 Downtrend
1M return
-10.5%
3M return
-25.0%
6M return
-28.4%
1Y return
-35.2%
RS 1D
+2
RS 20D
-2
Sector rank
#1
Industry rank
#11
Stage evidence
- Price is 22.7% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -4.1%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 70.63+2.20%
RS vs Nifty 50071
Valuation & peers
U-Score 43 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 43 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth11/25
Quality15/20
Balance Sheet10/15
Cash Flow3/10
Piotroski
6/9 (+3)
Penalties
1
Raw sum
43
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
43/100 · legacy band WATCHLIST
Positive drivers
- Quality contributes 15/20 to the score.
- Balance sheet contributes 10/15 to the score.
- Growth contributes 11/25 to the score.
Main drags
- Fair-value margin of safety is negative at -97.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
85.2
PB
16.9
EV/EBITDA
60.3
ROE
23.3%
ROCE
29.3%
FCF Yield
0.0%
Debt/Equity
0.1
MoS
-97.8%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
43
Previous: 43
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-97.8%
Previous: -97.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
43
43
43
43
43
43
43
43
43
43
43
43
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹729.93
-727.4% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹3,053.25
-97.8% MoS
PEG
5.46
Comparable companies
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BLISSGVS
Small
Bliss GVS Pharma Limited
Pharmaceuticals
match 166
39
51.4
11.8%
-8%
WATCHLIST
APLLTD
Mid
Alembic Pharmaceuticals Limited
Pharmaceuticals
match 165
34
21.0
13.4%
-455%
WATCHLIST
ANUHPHR
Small
Anuh Pharma Limited
Pharmaceuticals
match 162
40
19.5
10.7%
+40%
WATCHLIST
INNOVACAP
Small
Innova Captab Limited
Pharmaceuticals
match 162
48
42.6
13.7%
+17%
FAIR VALUE
SANOFI
Small
Sanofi India Limited
Pharmaceuticals
match 162
53
15.8
47.1%
-305%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-09T07:45:29.236Z
Management commentary snapshot
AstraZeneca India reported robust FY25 results with total revenue from operations growing 32% YoY to Rs. 1,716 crore and PBT up 25%. The company was the fastest-growing among top-ranked Indian pharma companies, improving its market ranking by 4 spots to No. 40.
AstraZeneca India's strong FY25 performance, driven by significant oncology growth and new product launches, reinforces its specialist-focused strategy. While high reliance on oncology is noted, the company's pipeline and focus on expanding access suggest continued momentum, warranting an intact thesis.
Current business mix
Revenue by therapeutic area (FY2024-25)
Latest issuer-disclosed distribution across 2 reported categories.
Oncology70.0%
Biopharmaceuticals30.0%
Growth engines
Oncology Portfolio
Oncology portfolio contributes nearly 70% of total revenue and grew almost 50% year-on-year, driving overall company growth.
Enhertu Launch
Enhertu for HER2-positive and HER2-low metastatic breast cancer has been a game-changer, becoming the first oncology brand to surpass Rs. 200 crores within 12 months of launch.
Tagrisso Franchise
Tagrisso continues as the number one lung cancer brand and third largest oncology brand in India, with its franchise growing 33% year-on-year.
Brilinta Performance
Brilinta maintained strong growth trajectory with a 27% increase in revenue, sustaining market leadership in oral antiplatelet despite loss of exclusivity.
Tailwinds
Robust Indian Economic Growth
India emerged as the fifth largest economy globally in 2024, projected to be the fourth largest by 2025, with average annual GDP growth around 6.4% over the next five years.
Growing Healthcare Sector
India's healthcare sector is projected to grow at a CAGR of 12% through to 2028, fueled by an ageing population, rising chronic diseases, and improved access.
Favorable Policy Environment
Positive movement in policy reforms impacting healthcare, including patent amendments and government PMP guidelines, are helpful for achieving company ambitions.
High Unmet Medical Need
Significant unmet need exists across key disease areas like lung, GI, and breast cancers, COPD, diabetes, cardiovascular disease, and chronic kidney disease in India.
Risk radar
High Reliance on Oncology
Oncology portfolio now contributes nearly 70% of total revenue, indicating a concentrated business mix.
Early Stage Rare Disease Business
It's early days in the context of rare diseases; the company is building the foundation to grow this segment over time.
Competition in Biopharmaceuticals
The biopharmaceutical market has a lot of generic players, posing a competitive environment.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company explicitly reported year-on-year growth for revenue and profit before tax, and compared its market ranking to the previous financial year, indicating annual performance is the primary focus for assessing results.
Sector KPIs management disclosed
Domestic Formulations Growth
Total revenue from operations of Rs. 1,716 crore, representing a year-on-year growth of 32%. AstraZeneca was the fastest growing Company amongst the top-ranked companies by revenue in the Indian pharmaceutical market.
Market Ranking Improvement
Company gained 4 spots in terms of overall rankings by revenue and was ranked No. 40 versus No. 44 in the previous financial year, FY2023-24.
New Medicine & Indication Approvals
Since 2023, the Company received 14 new medicine and indication approvals from the regulatory body in the country, spanning across oncology, biopharmaceuticals and rare disease.
New Product Launches (FY25)
Synagis, Imjudo, and Breztri have now been launched in the country. Imfinzi received multiple indication approvals (ADRIATIC, HIMALAYA). Soliris and Lokelma were approved, pending launch.
Management forward view
Sustained Growth & Therapy Area Leadership
We hope to continue our good performance by leveraging our strong portfolio across therapeutic areas and via new product launches, focused on growth and therapy area leadership.
Expand Access & Partnerships
Building more access to innovation by expanding into states and leveraging policy enhancements is a key priority. Fostering partnerships with states will be an important strategy.
Digital & AI Integration
Digital will be a key foundation across everything we do, with AI becoming an integral part of strategies to enhance activities and transform care.
Talent & Culture Development
Getting our talent and culture right is crucial to enable growth, bringing the best out of our team in service of patients and our purpose.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Oncology Revenue Contribution | Nearly 70% of total revenue. | Management's strategy to grow other business segments to potentially reduce reliance on oncology, as questioned by a shareholder. |
| Rare Disease Business Development | Early stages of building the foundation. | Progress in making rare diseases a sustainable and meaningful business, including the launch and ramp-up of Soliris and Lokelma. |
| New Product Launch & Pipeline Success | Synagis, Imjudo, Breztri launched; Soliris and Lokelma approved for future launch. | Timely and successful commercialization of newly approved products and further pipeline approvals to sustain growth momentum. |
| Expansion of State Partnerships | Deepening partnerships with Karnataka and Goa governments; working with Tamil Nadu. | Expansion of partnerships to more states and tangible improvements in patient access and health outcomes through these collaborations. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
78Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 86th percentile of the scored universe and 78th percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
21 docs text-extracted · 10 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
86th percentile
overall median 67 · Pharma: 78th pctile, median 70 · Small: 89th pctile, median 66
Evidence depth
Financial-only
21 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
62
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
60
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 75%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0%.
- ▸9 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-15 Cr.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching AstraZeneca Pharma India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Aug - Please find the enclosed intimation of the Company as per the captioned subject for your reference.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Jul - Please find the enclosed intimation of the Company as per the captioned subject for your reference.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 26 May - AstraZeneca Pharma India reported FY26 revenue of INR 22,755.8 Mn, 33% growth, and 11 approvals.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.