Credit ratingSep 2026
Sep 2026 · Credit Rating- New 22 Sep - ICRA assigned [ICRA]BBB(Stable) rating to ₹52.20 crore debt facilities on September 21, 2026.
Source: Nse
Infinium Pharmachem Ltd. (INFINIUM)
SME CapPharma stocks · SME cap · NSE
Infinium Pharmachem Ltd. specializes in Iodine Derivatives & APIs, serving pharma, agro, nutra, and specialty chemical sectors. It operates on a CRAMS model with 220+ derivatives and 19 APIs, boasting a global footprint across 30 countries. The company is vertically integrated with secured iodine supply and is expanding into contrast media.
Data qualityFresh enough for analysisQuote updated 21 Oct, 09:15 am ISTDetails
Quote21 Oct, 09:15 am IST
Base fundamentals18 Oct 2026 · screener
Latest result01 Jun, 07:53 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 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
85Strong Bullfull bull SMA stack · SMA20 +11.3% / mo · MACD − · sector +4.1pp vs Nifty 500 (3M)
Stock trend: 77
Sector RS: 98
Sector 3M: -0.3% vs Nifty 500 -4.4%
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
INFINIUMD candles · FIT view+40.4%Latest close ₹294.90 on 2026-10-19
Bar
-4.2%
RSI
53
MACD hist
-1.53
52W pos
78%
2026-10-19O ₹307.80H ₹307.80L ₹292.25C ₹294.90Vol 4,000 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
INFINIUMNifty PharmaNifty 500
- INFINIUM
- +40.0%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- +45.5 pp
Chart stats
19 Oct 2026- From 52W high
- -9.1%
- 52W range position
- 78%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.45x
- Avg traded value
- ₹0.3 Cr
- 20D price channel
- ₹255 - ₹324.5
₹324.5
₹189.4 - ₹324.5
₹14.7
Latest completed session
20-session average
58.9% 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
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · WATCHLIST36
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent77
Revenue +43.2% · PAT +60.0% YoY
Technical
Strong Bull85
Price trend and sector-relative-strength timing.
Valuation
Legacy model+14.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
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 31 Mar 2026
Excellent · 77/100Rev +43% YoY · PAT +60% YoY · +26% QoQ · operating leverage · margin compression
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹106 Cr | +43.2% | +26.2% |
| EBITDA | ₹11 Cr | NDF | +10.0% |
| Operating margin | 11.0% | NDF | -100 bps |
| PAT | ₹8 Cr | +60.0% | +14.3% |
| PAT margin | 7.5% | NDF | -78 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 39.10
- P/B
- 3.93
- EV/EBITDA
- 19.92
- Market Cap
- 475.00Cr
Profitability
- ROE
- 10.50%
- ROCE
- 12.20%
- ROA
- 8.00%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 22.00%
- EPS 5Y
- 35.00%
- Revenue 3Y
- 18.00%
- EPS 3Y
- 9.00%
Balance Sheet
- Debt/Equity
- 0.19
- Interest Coverage
- 7.33×
- Altman Z
- 7.87
- Book Value
- 77.70
Cash Flow
- FCF Yield
- 5.68%
- FCF Positive Y
- 5/5
- OCF
- 34.00 Cr
- EPS TTM
- 7.80
Shareholding
- Promoter Hold
- 64.91%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 86%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 190+21.8% vs prev
Net Profit
₹ CrLatest: 14.0+75.0% vs prev
Return on Equity
%Latest: 11.6+59.1% 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 53. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~10.1% over last month) — short-term momentum positive.
- RSI(14) at 53 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 9% off 52W high · 56% 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.
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation4/30
Growth15/25
Quality0/20
Balance Sheet9/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
-4
Raw sum
36
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
36/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 5.7%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 14.7%.
Main drags
- Penalty bucket subtracts 4 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 4/30; 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
39.1
PB
3.9
EV/EBITDA
19.9
ROE
10.5%
ROCE
12.2%
FCF Yield
5.7%
Debt/Equity
0.2
MoS
+14.7%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
36
Previous: 36
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+14.7%
Previous: +16.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
37
37
35
37
37
37
37
37
36
36
36
36
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
₹116.77
-156.5% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹351
+14.7% MoS
PEG
1.59
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
SAROJA
SME
Saroja Pharma Industries India Ltd.
Pharmaceuticals
match 157
48
9.8
10.1%
+77%
FAIR VALUE
MEDIORG
SME
Medicamen Organics Ltd.
Pharmaceuticals
match 157
14
—
-13.8%
—
OVERVALUED
ARVEE
Small
Arvee Laboratories (India) Limited
Pharmaceuticals
match 155
16
57.0
7.3%
-736%
OVERVALUED
LASA
Small
Lasa Supergenerics Limited
Pharmaceuticals
match 150
5
—
-19.7%
—
OVERVALUED
BLUEJET
Large
Blue Jet Healthcare Limited
Pharmaceuticals
match 144
38
69.9
52.1%
-1240%
WATCHLIST
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 2026-08-18T02:11:37.436Z
Management commentary snapshot
H1FY26 consolidated revenue grew 1% YoY, with gross profit up 14%, EBITDA up 20%, and PAT increasing by 35%, driven by margin expansion.
H1FY26 results show strong margin expansion and PAT growth despite modest revenue, supported by strategic backward integration for iodine supply and forward integration into high-value contrast media. Execution on ambitious revenue targets for new segments and improving current low capacity utilization are key.
Growth engines
Contrast Media Segment
Targeting Rs 300 Cr revenue in 3-5 years with 30% EBITDA margin, leveraging iodine chemistry expertise.
Captive Iodine Source
Strategic JV with IBL Elements secures consistent iodine supply (~120 MT/year) at competitive prices for 30 years.
EU Market Expansion
Targeting Rs 10 Cr revenue from the EU market for FY26, supported by 16 EU-REACH registered products.
Japan Distribution
Exclusive distribution agreement with M/s. K Sakai & Company for all iodine derivative products for 5 years.
Capacity and execution
Contrast Media Project
Project nearing completion, expected to conclude in December 2025; pilot scale commenced for Atipa and Atipa Dichloride.
Iodine Extraction JV
Commercial production from the US brine extraction JV expected by December 2026, ensuring ~120 MT/year captive supply.
Tailwinds
Rising Iodine Demand
Global and Indian iodine markets are set for strong growth, driven by medical imaging, pharmaceuticals, and specialty chemicals.
Growing Pharma Market
Global pharma market expected to grow from USD 1,999 Bn (2025) to USD 3,519 Bn (2032), with India's market from USD 55 Bn to USD 130 Bn.
Expanding Contrast Media Market
Global contrast media market projected to grow from USD 7 Bn (2025) to USD 12 Bn (2035), driven by chronic diseases and advanced imaging.
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
H1 results are typically seasonal, making year-over-year comparison more relevant for assessing underlying business performance and growth trends.
Sector KPIs management disclosed
Gross Profit Margin
H1FY26 at 24.41% vs H1FY25 at 21.68%.
EBITDA Margin
H1FY26 at 13.46% vs H1FY25 at 11.36%.
Capacity Utilization
~20% in FY24, with total capacity of 1800 MTPA and annual production of 293 MT.
API Portfolio
Manufacturing 19 APIs with other specialty products.
Management forward view
Topline Target
Targeting a topline of Rs 200 Cr by FY26, with a sustainable revenue growth rate of 20% YoY.
Contrast Media Revenue
Sales from the Contrast Media segment are expected to be Rs 30 Cr in FY26, rising to Rs 80-100 Cr in FY27.
Blended EBITDA Target
Targeting a blended EBITDA of 22% after the Contrast Media segment becomes operational.
Sustainable Profit Margin
Aims for a sustainable profit margin of 10% for the next two years.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Contrast Media Project Completion | Nearing completion, pilot scale commenced. | Project conclusion by December 2025 and commercial samples offered leading to long-term supply contracts. |
| Contrast Media Revenue Ramp-up | Targeting Rs 30 Cr in FY26. | Achievement of FY26 target and progression towards Rs 80-100 Cr in FY27. |
| Iodine Extraction JV Commercial Production | Project under development. | Commencement of commercial production by December 2026 and realization of captive supply benefits. |
| EU Market Revenue | Target revenue for FY26 is ~ Rs 10 Cr. | Progress towards achieving the targeted revenue from the EU market. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
76Limited 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 81st percentile of the scored universe and 73rd percentile within Pharma. Main check: results consistency is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Pharma: 73rd pctile, median 70 · SME: 96th pctile, median 64
Evidence depth
Financial-only
4 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
89
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
48
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 64.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 6.6%.
- ▸5 years of positive FCF.
Trust risks
- ▸ROCE trend is -5.6%.
- ▸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 Infinium Pharmachem Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.