Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 30 Sep - Acrotech launches ADQUEY in the U.S. and sets up dedicated dermatology business.
Source: Bse
Aurobindo Pharma Limited (AUROPHARMA)
Mid CapPharma stocks · Mid cap · NSE
Aurobindo Pharma Limited is an Indian pharmaceutical company engaged in the development, manufacturing, and marketing of a wide range of pharmaceutical products including formulations, active pharmaceutical ingredients (APIs), biosimilars, and biologics contract manufacturing. It operates globally with significant presence in the US, Europe, and Growth Markets.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result16 Aug, 12:54 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 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
73BullishSMA20 +1.5% / mo · MACD − · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 57
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
AUROPHARMAD candles · FIT view+14.7%Latest close ₹1621.40 on 2026-10-19
Bar
-2.4%
RSI
40
MACD hist
-7.52
52W pos
82%
2026-10-19O ₹1662.10H ₹1681.60L ₹1615.60C ₹1621.40Vol 7.4L 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
AUROPHARMANifty PharmaNifty 500
- AUROPHARMA
- +4.0%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- +9.5 pp
Chart stats
19 Oct 2026- From 52W high
- -6.8%
- 52W range position
- 82%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.84x
- Avg traded value
- ₹144 Cr
- 20D price channel
- ₹1,615.6 - ₹1,740
₹1,740
₹1,080.1 - ₹1,740
₹39.3
Latest completed session
20-session average
20.7% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST35
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent80
Revenue +16.3% · PAT +25.2% YoY
Technical
Bullish73
Price trend and sector-relative-strength timing.
Valuation
Legacy model-213.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence81
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
Excellent · 80/100Rev +16% YoY · PAT +25% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹9,150 Cr | +16.3% | +3.4% |
| EBITDA | ₹1,880 Cr | +17.3% | +7.4% |
| Operating margin | 21.0% | +100 bps | +100 bps |
| PAT | ₹1,032 Cr | +25.2% | +12.1% |
| PAT margin | 11.3% | +81 bps | +88 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 25.50
- P/B
- 2.57
- EV/EBITDA
- 11.70
- Market Cap
- 96543.00Cr
Profitability
- ROE
- 10.10%
- ROCE
- 12.90%
- ROA
- 6.38%
- Dividend Y
- 0.24%
Growth (CAGR)
- Revenue 5Y
- 6.00%
- EPS 5Y
- 1.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 0.21
- Interest Coverage
- 18.25×
- Altman Z
- 5.00
- Book Value
- 652.00
Cash Flow
- FCF Yield
- 3.79%
- FCF Positive Y
- 6/5
- OCF
- 5526.00 Cr
- EPS TTM
- 64.09
Shareholding
- Promoter Hold
- 51.88%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 91%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 11.2k+2.2% vs prev
Net Profit
₹ CrLatest: 2,593+7.4% vs prev
Return on Equity
%Latest: 11.4-3.0% 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 uptrend intact. RSI 40. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~1.5% over last month) — short-term momentum positive.
- RSI(14) at 40 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 7% off 52W high · 50% 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
91
RS percentile
Stage 2 UptrendEstablished S2
1M return
-6.5%
3M return
+4.0%
6M return
+14.1%
1Y return
+47.5%
RS 1D
-1
RS 20D
0
Sector rank
#1
Industry rank
#3
Stage evidence
- Price is 5.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.1%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
04 Mar 2026
S2 age
162 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 153.28-1.72%
RS vs Nifty 500153
Valuation & peers
U-Score 35 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 35 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation5/30
Growth8/25
Quality2/20
Balance Sheet10/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
-1
Raw sum
35
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
35/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 3.8%.
- Piotroski is strong at 8/9.
- Balance sheet contributes 10/15 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -213.9%.
- Quality is weaker at 2/20; 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
25.5
PB
2.6
EV/EBITDA
11.7
ROE
10.1%
ROCE
12.9%
FCF Yield
3.8%
Debt/Equity
0.2
MoS
-213.9%
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
35
Previous: 35
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-213.9%
Previous: -213.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
35
35
35
35
35
35
35
35
35
35
35
35
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
₹969.64
-67.2% MoS
Growth-justified P/E
8.1
Growth-justified Value
₹516.57
-213.9% MoS
PEG
15.94
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
ALKEM
Mid
Alkem Laboratories Limited
Pharmaceuticals
match 139
51
26.3
18.9%
-15%
FAIR VALUE
GLENMARK
Mid
Glenmark Pharmaceuticals Limited
Pharmaceuticals
match 138
68
20.4
23.6%
+23%
UNDERVALUED
DRREDDY
Large
Dr. Reddy's Laboratories Limited
Pharmaceuticals
match 137
39
31.5
11.2%
+28%
WATCHLIST
APLLTD
Mid
Alembic Pharmaceuticals Limited
Pharmaceuticals
match 136
34
21.0
13.4%
-455%
WATCHLIST
LUPIN
Mid
Lupin Limited
Pharmaceuticals
match 135
83
14.9
28.7%
+64%
DEEP 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 2026-10-13T09:41:38.153Z
Management commentary snapshot
Aurobindo Pharma reported strong Q1FY27 results with 16.3% YoY revenue growth to ₹9,150 Cr, driven by broad-based performance. Operating EBITDA grew 20.0% YoY to ₹1,924 Cr (21.0% margin), and Net Profit rose 25.2% YoY to ₹1,032 Cr, indicating robust operational and financial performance.
The thesis remains intact given the strong financial performance across key segments, particularly the US base business and robust growth in Europe and Growth Markets. Significant progress in biosimilars with multiple filings and commercial launches, alongside strategic investments in biologics CDMO, supports future growth trajectory.
Current business mix
Revenue by Segment/Geography (Q1FY27)
Latest issuer-disclosed distribution across 5 reported categories.
USA41.2%
Europe32.1%
Growth Markets11.6%
API11.5%
ARV3.6%
Growth engines
US Formulations Base Business
US base business continued to grow driven by volume gains and new launches, contributing 41.2% of consolidated revenue.
Europe & Growth Markets Expansion
Europe business posted 25.6% Y-o-Y growth and Growth Markets reported 37.7% Y-o-Y growth, indicating strong regional performance.
Biosimilars Pipeline & Commercialization
CuraTeQ has multiple biosimilars launched in UK/Europe/LATAM, with Denosumab filed with EMA and Omalizumab/Bevacizumab/Denosumab US FDA filings imminent.
Biologics Contract Manufacturing (CDMO)
TheraNym, anchored by a long-term partnership with MSD, is positioned to become a reliable node in the global biologics supply chain by 2030.
Capacity and execution
CuraTeQ Bioreactor Capacity
10,000 L (4 × 2,500 L) mammalian cell-culture bioreactors, with integrated purification suites, are being added to existing capacity at CuraTeQ.
TheraNym Unit 1 Commissioning
Unit 1 was inaugurated on June 3, 2026, and is on track to begin qualification activities in November 2026, ahead of first commercial revenues.
TheraNym Unit 2 Greenfield Build
Groundbreaking completed for a greenfield Drug Substance facility (Unit 2) adding 60 kL mammalian cell-culture bioreactor capacity, targeted for qualification in 2030.
AuroVaccines Merger into CuraTeQ
Merger of AuroVaccines into CuraTeQ, repurposing vaccine capacity for biosimilars expansion, remains on track for completion by March 2027.
Tailwinds
Broad-based Business Performance
Revenue growth of 16.3% Y-o-Y was driven by strong performance across all business areas.
Strong Free Cash Flow Generation
Generated free cash flow of US$ 98 million during the quarter, contributing to a strong net cash position.
Expanding Biosimilars Commercial Reach
Full portfolio live in UK, multi-country rollout underway in Europe, and entry secured in LATAM via Mexico for biosimilars.
Growing Biologics CDMO Market
The global biologics CDMO/CMO market is growing at a CAGR of over 12%, presenting a strategic opportunity for TheraNym.
Headwinds
ARV Business Stability
ARV business revenue remained broadly stable at INR 330 Cr, with Q-o-Q variation driven by tender opportunities.
API Seasonal Softness
API sequential performance reflected seasonal softness in the antibiotics portfolio, leading to a Q-o-Q decline.
One-time Lease Derecognition Impact
Operating EBITDA includes a one-time impact of ₹43 Cr on account of derecognition of lease receivable.
Risk radar
Regulatory & Legislative Developments
The company's disclaimer notes that regulatory and legislative developments could adversely affect business and financial performance.
Competitive Pressures
The disclaimer highlights competitive pressures as a factor that could cause actual developments and results to differ materially from expectations.
Currency Exchange & Interest Rate Movements
Movements in currency exchange and interest rates are identified as factors that could impact business and financial performance.
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's presentation highlights strong year-on-year growth across all key financial metrics and business areas, indicating sustained underlying performance and market penetration rather than short-term sequential fluctuations.
Sector KPIs management disclosed
US Formulations Growth
US revenue grew 8.1% Y-o-Y to ₹3,770 Cr, driven by volume gains and new launches. Ex-gRevlimid, revenue grew 5% Q-o-Q.
Europe Formulations Growth
Europe business posted 25.6% Y-o-Y growth to ₹2,937 Cr, with strong performance across all key markets.
Growth Markets Formulations Growth
Growth Markets reported 37.7% Y-o-Y growth to ₹1,063 Cr, driven by strong performance across the markets.
API Revenue Growth
API revenues increased 14.6% Y-o-Y to ₹1,049 Cr. Sequential performance reflected seasonal softness in the antibiotics portfolio.
Management forward view
Omalizumab EMA Filing
Omalizumab filing is on track for Q3 2026 with EMA, keeping the respiratory franchise on track.
First U.S. FDA Biosimilar Filings
Actively engaging with the FDA ahead of U.S. filings this year for Omalizumab, Denosumab, and Bevacizumab.
Trastuzumab SC Clinical Studies
Trastuzumab 600 mg subcutaneous (SC) presentation is on track to enter clinical studies in 2026, broadening the oncology franchise.
TheraNym 2030 Vision
With Unit 1 and Unit 2's large-scale capacity and the MSD partnership, TheraNym is positioned to become a reliable node in the global biologics supply chain by 2030.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| US Formulations Revenue ex-gRevlimid | US$ 399 Mn (Q1FY27) | Sustained growth driven by volume gains and new product launches. |
| Biosimilars Regulatory Approvals & Launches | Denosumab filed with EMA; Omalizumab, Denosumab, Bevacizumab US FDA filings imminent. | Successful approvals and commercialization timelines for key biosimilar assets. |
| TheraNym Unit 1 Qualification & Revenue | Qualification activities on track for November 2026. | Timely commencement of qualification and first commercial revenues from the CDMO business. |
| EBITDA Margin Trend | 21.0% (Q1FY27) | Continued margin expansion driven by product mix, operational efficiencies, and scale benefits. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
81Limited 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 93rd percentile of the scored universe and 90th percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
231 docs text-extracted · 70 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
93rd percentile
overall median 67 · Pharma: 90th pctile, median 70 · Mid: 73rd pctile, median 76
Evidence depth
Financial-only
231 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
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 3.8%.
- ▸6 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Aurobindo Pharma Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Sep - USFDA final approval received for Beclomethasone Dipropionate HFA inhalation aerosol; first MDI product, launch upcoming quarters.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Updates on Acquisition 25 Jun - Aurobindo invested Rs 52 lakh for 26% stake in Swarnaakshu Solar and signed a captive solar PPA.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
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.