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Indian market · As of 9:11 am IST

Medicamen Organics Ltd. (MEDIORG)

SME Cap

Pharma stocks · SME cap · NSE

Medicamen Organics Ltd. develops, manufactures, and distributes a broad range of generic pharmaceutical dosages including Tablets, Capsules, Oral Liquids, Ointments, and Dry powders. It operates a B2B contract manufacturing model for government and private institutions, marketing products in India, Africa, CIS, and Southeast Asian countries.

₹26.75
+0.00 · +0.00%
Market cap ₹39.8 Cr
ThemesPharmaHealthcare & Hospitals
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am IST
Details
Quote21 Oct, 04:45 am IST
Base fundamentals20 Oct 2026 · screener
Latest result01 Jun, 08:21 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens

Trend score and candlestick chart

72Bullish

SMA20 -3.8% / mo · MACD + · sector +3.8pp vs Nifty 500 (3M)

Stock trend: 54
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

Compare peers →

Technical chart

MEDIORGD candles · FIT view-11.0%
Latest close ₹26.75 on 2026-10-16
Bar
+0.0%
RSI
60
MACD hist
0.42
52W pos
40%
Visible chart range
Candle interval
2026-10-16O ₹26.75H ₹26.75L ₹26.75C ₹26.75Vol 4,000 sh
₹18.48₹21.88₹25.28₹28.67₹32.0752L₹26.75VolRSIMACD2026-042026-062026-072026-092026-11
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

MEDIORGNifty PharmaNifty 500
-10%+5%+19%+34%17 Jul26 Aug16 Oct16 Oct 2026MEDIORG +16.8%Nifty Pharma +0.6%Nifty 500 -4.6%
MEDIORG
+16.8%
Nifty 500
-4.6%
Nifty Pharma
+0.6%
Vs Nifty 500
+21.4 pp
Chart stats
16 Oct 2026
From 52W high
-40.6%
₹45
52W range position
30%
₹19.1 - ₹45
ATR (14)
3.7%
₹1
Volume vs 20D
0.38x
Latest completed session
Avg traded value
₹0 Cr
20-session average
20D price channel
₹21.7 - ₹26.8
66.6% 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
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED
14

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Latest result
Bad
0

Revenue -65.7% · PAT -581.0% YoY

Technical
Bullish
72

Price trend and sector-relative-strength timing.

Valuation
Legacy model
—

Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.

Trust
Limited evidence
49

Financial-only signal; management claim evidence is not sufficient yet.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Latest result

Quarter ended 31 Mar 2026

Bad · 0/100

Rev -66% YoY · PAT -581% YoY · margin compression

Filed 31 Mar 2026
Open results browser →
MetricThis quarterYoYQoQ
Revenue₹4.8 Cr-65.7%-73.2%
EBITDA₹-7.2 CrNDF-309.6%
Operating margin-150.0%NDF-16916 bps
PAT₹-6.1 Cr-581.0%-397.1%
PAT margin-126.8%NDF-13821 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E
—
P/B
1.14
EV/EBITDA
—
Market Cap
39.80Cr

Profitability

ROE
-13.80%
ROCE
-10.40%
ROA
-7.79%
Dividend Y
—

Growth (CAGR)

Revenue 5Y
-7.14%
EPS 5Y
54.58%
Revenue 3Y
3.00%
EPS 3Y
3.00%

Balance Sheet

Debt/Equity
0.50
Interest Coverage
-4.31×
Altman Z
1.88
Book Value
23.60

Cash Flow

FCF Yield
—
FCF Positive Y
0/5
OCF
-4.60 Cr
EPS TTM
-3.30

Shareholding

Promoter Hold
54.89%
Promoter Pledge
0.00%
Momentum 52W
41%

Financial History

Updated 20/10/2026

Revenue

₹ Cr
Latest: 21.8-42.9% vs prev
038.2Mar 2024: 25.3Mar 2025: 38.2Mar 2026: 21.8FY24FY25FY26

Net Profit

₹ Cr
Latest: -4.0-199.3% vs prev
-4.004.0Mar 2024: 2.6Mar 2025: 4.0Mar 2026: -4.0FY24FY25FY26

Return on Equity

%
Latest: -14.0-204.1% vs prev
-14.0017.2Mar 2024: 17.2%Mar 2025: 13.4%Mar 2026: -14.0%FY24FY25FY26

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term uptrend intact. RSI 60. Wait for confirmation.

  • Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
  • SMA20 falling (~4.0% over last month) — short-term momentum negative.
  • RSI(14) at 60 — rising, no extreme reading.
  • MACD above signal, histogram expanding — bullish momentum building.
  • 30% off 52W high · 40% 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

57
RS percentile
Stage 3 Topping
1M return
+4.3%
3M return
+7.0%
6M return
+15.8%
1Y return
-21.4%
RS 1D
+2
RS 20D
+34
Sector rank
#1
Industry rank
#11
Stage evidence
  • 34.8% below the 52-week closing high after prior strength.
  • The 30-week proxy has stalled (-0.0% over 20 sessions).
  • Price has not yet confirmed a full Stage 4 downtrend.
50-DMA
price above
200-DMA
price above
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
219 observations
16 Oct 2026Value 86.3-0.40%
597488102117Sept 25Feb 26Jun 26Oct 2686
RS vs Nifty 50086

Valuation & peers

U-Score 14 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

14U-SCORE
OVERVALUED

Fundamental score breakdown

U band · OVERVALUED
Valuation5/30
Growth10/25
Quality0/20
Balance Sheet6/15
Cash Flow0/10
Piotroski
4/9 (+1)
Penalties
-8
Raw sum
14

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

14/100 · legacy band OVERVALUED

Positive drivers

  • Growth contributes 10/25 to the score.
  • Balance sheet contributes 6/15 to the score.
  • Valuation contributes 5/30 to the score.

Main drags

  • Penalty bucket subtracts 8 points.
  • Quality is weaker at 0/20; verify the latest quarterly trend.
  • Cash flow is weaker at 0/10; 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.

Pharma PE/EVEBITDA
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
—
PB
1.1
EV/EBITDA
—
ROE
-13.8%
ROCE
-10.4%
FCF Yield
—
Debt/Equity
0.5
MoS
—
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
14
Previous: 14
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026
v4.3-runtime-valuation
14
14
14
14
14
14
14
14
14
14
14
14

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
—
Growth-justified P/E
45.0
Growth-justified Value
—
— MoS
PEG
—

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.

Compare all ↗
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SAROJA
SME
Saroja Pharma Industries India Ltd.
Pharmaceuticals
match 159
48
9.8
10.1%
+77%
FAIR VALUE
LASA
Small
Lasa Supergenerics Limited
Pharmaceuticals
match 158
5
—
-19.7%
—
OVERVALUED
INFINIUM
SME
Infinium Pharmachem Ltd.
Pharmaceuticals
match 148
36
39.1
10.5%
+16%
WATCHLIST
ARVEE
Small
Arvee Laboratories (India) Limited
Pharmaceuticals
match 144
16
57.0
7.3%
-736%
OVERVALUED
GUJTHEM
Small
Gujarat Themis Biosyn Limited
Pharmaceuticals
match 143
26
99.7
—
-86%
OVERVALUED

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 2026-08-20T03:41:57.396Z
Management commentary snapshot

Medicamen Organics reported strong FY25 consolidated results with revenue up 51.11% YoY and PAT up 54.22% YoY. H2 FY25 saw even stronger growth, with revenue up 54.66% YoY and PAT doubling to 101.01% YoY, driven by robust top-line expansion and improved H2 margins.

The company delivered impressive top-line and bottom-line growth in FY25, with H2 FY25 showing accelerated momentum. Strategic international expansions and diversification into new product segments like cosmetics are underway, but their contribution and execution remain key monitoring points. The B2B contract manufacturing model appears scalable.

Growth engines

Geographic Expansion

INTACT

Presence in India, Africa, CIS, and Southeast Asian countries. New subsidiaries in Nepal (manufacturing), Rwanda, and Mauritius (marketing/distribution) are planned or established.

Product Portfolio Diversification

INTACT

Wide range of 84 products across multiple therapeutic areas. Entry into new segments like Cosmetics & Skin Care through subsidiary GEPL.

Contract Manufacturing (B2B)

INTACT

Operates a customer-centric, order-driven B2B model for contract/third-party manufacturing for government and private institutions.

Capacity and execution

Nepal Manufacturing Facility

INTACT

Investing ₹9 Crores in Medi Hub Organic Ltd. (30% equity) to establish a state-of-the-art CGMP pharmaceutical manufacturing facility, aiming for European quality benchmarks.

Rwanda Subsidiary

INTACT

Started a subsidiary in Rwanda (MOU signed July 15, 2024) for marketing and distribution, with plans to register ~100 products by December 2025.

Mauritius Subsidiary

INTACT

GEPL plans to start a subsidiary in Mauritius (MOU expected August) for marketing and distribution, initially focusing on medical disposables and cosmetics.

Tailwinds

Expanding International Markets

INTACT

Company is actively expanding its footprint in African, CIS, and Southeast Asian markets, with new ventures in Nepal, Rwanda, and Mauritius.

Diversified Product Offerings

INTACT

Broad product portfolio across various therapeutic areas and a new strategic entry into the growing beauty and personal care industry.

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 financial data provided in the presentation is exclusively on a Year-over-Year basis for both the full fiscal year (FY25 vs FY24) and the second half (H2 FY25 vs H2 FY24), making YoY the only applicable comparison.

Sector KPIs management disclosed

EBITDA Margin

UNDER_STRESS

FY25 EBITDA Margin: 17.45% (vs 18.80% in FY24). H2 FY25 EBITDA Margin: 18.06% (vs 16.79% in H2 FY24).

PAT Margin

INTACT

FY25 PAT Margin: 10.60% (vs 10.38% in FY24). H2 FY25 PAT Margin: 11.76% (vs 9.04% in H2 FY24).

Product Portfolio

INTACT

Product portfolio consists of 84 products across various therapeutic areas. Regularly engaged in R&D and launching new products.

Approvals/Certifications

INTACT

Approved by WHO GMP since 2011 (facility 1) and 2018 (facility 2). Obtained ISO 9001:2015 Certification.

Management forward view

Global Footprint Expansion

INTACT

Subsidiary GEPL is intended to serve as a platform for expanding the company’s footprint in overseas markets, including Nepal, Rwanda, and Mauritius.

New Product Segments

INTACT

Entered the beauty and personal care industry through GEPL, launching its first product line in Q1 FY25-26 with an initial investment of ₹3 Crores.

Product Registration Targets

INTACT

Plans to register around 100 products in Rwanda by December 2025.

Sales Projections from New Markets

INTACT

Projects USD 1.5 Million sales from Rwanda and approximately USD 0.5 Million from Mauritius for 2025-26.

Thesis monitor

Numbers and claims to verify in the next filings

CheckpointCurrent evidenceWhat to verify next
Nepal Manufacturing Facility Progress₹9 Crores investment in MHOL for a new CGMP facility, aiming for European quality benchmarks.Timely commissioning, achievement of quality benchmarks, and initial production ramp-up.
Rwanda & Mauritius Sales ContributionProjected sales of USD 1.5M (Rwanda) and USD 0.5M (Mauritius) for 2025-26.Actual sales performance against projections and product registration progress in Rwanda.
Cosmetics & Skin Care Vertical PerformanceLaunched first product line in Q1 FY25-26 with ₹3 Crores initial investment, targeting Nepal, Mauritius, Rwanda, Brazil, and India e-commerce.Market acceptance, revenue contribution, and profitability of the new vertical.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score
49Limited 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 6th percentile of the scored universe and 4th percentile within Pharma. Main check: cash conversion is weak at 28/100.

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
6th percentile

overall median 67 · Pharma: 4th pctile, median 70 · SME: 6th 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 confidence
What 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
Needs extra due diligence; demand valuation comfort and recent improvement.

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
70
acceptable · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
40
weak · capital discipline
Results
38
weak · quarterly consistency

Trust positives

  • ▸Promoter pledge is zero.
  • ▸Promoter holding increased 16.9%.

Trust risks

  • ▸Operating cash flow is negative at ₹-5 Cr.
  • ▸Promoter holding is only 16.9%.
  • ▸Only 0 years of positive FCF.
  • ▸ROCE is low at -10.7%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Continue researching Medicamen Organics Ltd.

Compare Pharma stocksBrowse Indian stocks starting with MExplore fundamental stock screenersBrowse Indian investment themes
Related companies
Saroja Pharma Industries India Ltd. (SAROJA)Lasa Supergenerics Limited (LASA)Infinium Pharmachem Ltd. (INFINIUM)Arvee Laboratories (India) Limited (ARVEE)Gujarat Themis Biosyn Limited (GUJTHEM)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

10 shown
Annual reportSep 2026

Sep 2026 · General Updates 2 Sep - AGM notice and FY2025-26 annual report shared; AGM on September 25, 2026 via VC/OAVM.

Source: Nse

Open source ↗
Annual reportSep 2026

Sep 2026 · Shareholders meeting 31 Aug - FY2025-26 annual report filed; 31st AGM on September 25, 2026 via VC/OAVM.

Source: Nse

Open source ↗
Annual reportSep 2026

Sep 2026 · Copy of Newspaper Publication 30 Aug - Newspaper ads published for 31st AGM on September 25, 2026; notice and annual report available online.

Source: Nse

Open source ↗
Concall transcriptJun 2025

Jun 2025 · Transcript

Source: Nse

Open source ↗
Investor presentationJun 2025

Jun 2025 · PPT

Source: Nse

Open source ↗
Investor presentationNov 2024

Nov 2024 · PPT

Source: Nse

Open source ↗
Concall transcriptNov 2024

Nov 2024 · Transcript

Source: Nse

Open source ↗
Investor presentationOct 2024

Oct 2024 · PPT

Source: Nse

Open source ↗
Verify on:NSE India ↗
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.