AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Sep - Intimation about Schedule of Analyst / Institutional Investor Meeting on September 15, 2026 and September 17, 2026
Source: Bse
Neuland Laboratories Limited (NEULANDLAB)
Small CapPharma stocks · Small cap · NSE
Neuland Laboratories is an Indian API manufacturer and CDMO with 40 years of experience. It offers generic APIs (GDS) and custom manufacturing solutions (CMS) for innovator customers, serving over 80 countries with 3 cGMP facilities and 1.2M+ liters reactor volume. Expertise includes peptides, deuterated molecules, and complex chemistries.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result05 Aug, 09:38 pm IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
68BullishSMA20 -8.1% / mo · RSI oversold · MACD − · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 48
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
NEULANDLABD candles · FIT view+33.4%Latest close ₹19220.00 on 2026-10-19
Bar
-2.4%
RSI
22
MACD hist
-224.70
52W pos
61%
2026-10-19O ₹19690.00H ₹19940.00L ₹19135.00C ₹19220.00Vol 31,501 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
NEULANDLABNifty PharmaNifty 500
- NEULANDLAB
- +1.4%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- +7.0 pp
Chart stats
19 Oct 2026- From 52W high
- -20.7%
- 52W range position
- 61%
- ATR (14)
- 3.6%
- Volume vs 20D
- 0.66x
- Avg traded value
- ₹97.6 Cr
- 20D price channel
- ₹19,135 - ₹23,050
₹24,225
₹11,500 - ₹24,225
₹700.2
Latest completed session
20-session average
18.1% annualized volatility
Research snapshot
What the evidence says now
Mixed 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 · FAIR VALUE50
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +119.1% · PAT +957.1% YoY
Technical
Bullish68
Price trend and sector-relative-strength timing.
Valuation
Legacy model-10.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence77
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 · 90/100Rev +119% YoY · PAT +957% YoY · margin expansion · operating leverage
Filed 05 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹642 Cr | +119.1% | -17.3% |
| EBITDA | ₹223 Cr | +555.9% | -27.4% |
| Operating margin | 35.0% | +2300 bps | -500 bps |
| PAT | ₹148 Cr | +957.1% | -30.5% |
| PAT margin | 23.1% | +1827 bps | -440 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 49.50
- P/B
- 13.16
- EV/EBITDA
- 28.99
- Market Cap
- 24659.00Cr
Profitability
- ROE
- 21.20%
- ROCE
- 26.50%
- ROA
- 17.00%
- Dividend Y
- 0.17%
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 39.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 30.00%
Balance Sheet
- Debt/Equity
- 0.16
- Interest Coverage
- 29.35×
- Altman Z
- 8.79
- Book Value
- 1461.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- 347.00 Cr
- EPS TTM
- 387.97
Shareholding
- Promoter Hold
- 32.26%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 61%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 2,372+60.6% vs prev
Net Profit
₹ CrLatest: 364+40.0% vs prev
Return on Equity
%Latest: 19.4+13.8% 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 22. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~8.9% over last month) — short-term momentum negative.
- RSI(14) at 22 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 21% off 52W high · 67% 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
87
RS percentile
Stage 2 UptrendEstablished S2
1M return
-15.8%
3M return
+1.4%
6M return
+27.6%
1Y return
+22.1%
RS 1D
0
RS 20D
-8
Sector rank
#1
Industry rank
#12
Stage evidence
- Price is 3.8% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +6.5%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
03 Jul 2026
S2 age
75 trading sessions
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 141.81-1.30%
RS vs Nifty 500142
Valuation & peers
U-Score 50 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 50 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth18/25
Quality15/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
50
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
50/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 15/20 to the score.
- Growth contributes 18/25 to the score.
Main drags
- Fair-value margin of safety is negative at -10.1%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; 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
49.5
PB
13.2
EV/EBITDA
29.0
ROE
21.2%
ROCE
26.5%
FCF Yield
—
Debt/Equity
0.2
MoS
-10.1%
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
50
Previous: 50
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-10.1%
Previous: -10.1%
Score history
12 stored score snapshots. Latest stored move: +1 points.
20 Oct 2026
v4.3-runtime-valuation
49
49
49
49
49
49
49
49
49
49
49
50
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
₹3,571.21
-438.2% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹17,458.65
-10.1% MoS
PEG
1.40
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
PPLPHARMA
Small
Piramal Pharma Limited
Healthcare Services
match 166
30
34.0
9.8%
-125%
OVERVALUED
LALPATHLAB
Small
Dr. Lal Path Labs Ltd.
Healthcare Services
match 165
49
55.5
22.3%
-27%
FAIR VALUE
WOCKPHARMA
Small
Wockhardt Limited
Healthcare Services
match 163
20
79.4
6.1%
-2942%
OVERVALUED
NATCOPHARM
Small
Natco Pharma Limited
Healthcare Services
match 163
72
13.7
17.1%
+69%
UNDERVALUED
SANOFICONR
Small
Sanofi Consumer Healthcare India Limited
Healthcare Services
match 160
64
32.5
71.6%
+33%
UNDERVALUED
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 2026-10-14T08:13:24.475Z
Management commentary snapshot
Q1FY27 saw robust YoY financial growth with Total Income up 116.3% to Rs. 650.1 Cr, EBITDA surging 448.2% to Rs. 231.1 Cr (35.5% margin), and PAT increasing 975.0% to Rs. 147.4 Cr. This was driven by commercial molecules in CMS and key products in GDS, representing a good start to the year.
The company delivered strong Q1FY27 results, largely in line with management expectations, driven by both CMS and GDS. Significant YoY growth in revenue and profitability, coupled with a healthy pipeline and ongoing capex, supports the growth thesis. Sequential moderation in some metrics warrants monitoring.
Current business mix
Segment Revenue Q1FY27
Latest issuer-disclosed distribution across 4 reported categories.
Prime11.0%
Specialty11.0%
CMS67.0%
Others6.0%
Growth engines
Commercial Molecules in CMS
CMS revenues driven by commercial molecules; Commercial products contributed to most of the revenue.
New Project Orders
Growth in new projects orders which will be delivered over the course of this and next financial years.
Peptides Molecules in Pipeline
Traction from Innovators with peptides molecules in pipeline.
Prime Segment Key Molecules
In Prime segment Ezetimibe and Mirtazapine were the key molecules. Ezetimibe likely to drive growth of the Prime segment.
Capacity and execution
Q1FY27 Capex Outflow
Capex outflow of Rs. 122 Cr in Q1FY27.
Ongoing Capex Projects
All our significant Capex projects are proceeding according to plan.
New Peptide Facility
Groundbreaking of a new peptide facility in 2025.
Capacity Expansion
Adding capacities for backward integration and new business.
Tailwinds
Stronger Customer Engagement
Depth of customer conversations today is significantly stronger, engaging on broader capability-led discussions.
Supply Chain De-risking
Neuland actively worked towards Supply chain de-risking before the COVID19 pandemic.
Risk radar
Strategy Implementation Risk
Risks include ability to successfully implement our strategy, our growth and expansion plans.
Regulatory Approval Risk
Risks include ability to obtain regulatory approvals.
Market Risks
Risks include our exposure to market risks.
Technological Changes
Risks include technological changes.
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 BOTH
YoY comparison is crucial due to the significant growth reported across all key financial metrics, indicating strong underlying business expansion. QoQ comparison is also relevant to assess sequential momentum, especially given the slight dip in Total Income, EBITDA, and PAT from Q4FY26, which could reflect project-based revenue lumpiness or seasonal factors.
Sector KPIs management disclosed
Total Income Growth (YoY)
Total Income for Q1FY27 at Rs. 650.1 crore (116.3% YoY)
EBITDA Margin
EBITDA Margin for Q1FY27 at 35.5% (increased by 2150 bps YoY)
PAT Growth (YoY)
PAT for Q1FY27 at Rs. 147.4 crore (975.0% YoY)
Revenue from Exports
92% Revenue from exports
Management forward view
Focus on Consistent Delivery
Internally our focus now is on ensuring that we deliver consistently, build customer confidence and establish the foundation for long-term partnerships.
Increased Investment Intensity
The intensity of our investments will further increase based on the opportunities that available to us.
Pipeline Developments
We are seeing exciting developments in terms of the pipeline projects.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Working Capital Days of Sale | 84 days in Q1FY27 | Sustained improvement or deterioration from 84 days, compared to 137 days in Q4FY26. |
| Net Debt | Rs. (308.5) crore as at Q1FY27 end (Net Cash position) | Changes in net cash position, especially with increased investment intensity. |
| CMS Project Transitions | Steady trend in molecules transitioning from clinical phases to commercialisation. | Continued successful transition of pipeline projects to commercial stage. |
| Unit 3 Utilization | Unit 3 utilisation levels have recently started ramping up. | Continued ramp-up and optimal utilization of Unit 3 capacity. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
77Limited 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 83rd percentile of the scored universe and 76th 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
101 docs text-extracted · 39 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
83rd percentile
overall median 67 · Pharma: 76th pctile, median 70 · Small: 86th pctile, median 66
Evidence depth
Financial-only
101 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
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
62
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
- ▸ROCE is 26.5%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
- ▸OPM spread across recent quarters is 28%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Neuland Laboratories 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 16 Sep - Intimation about Schedule of Analyst / Institutional Investor Meeting on September 23 - 25, 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Sep - First commercial peptide module operational; second module expansion underway after $30 million investment.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Credit ratingAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 25 Aug - CRISIL reaffirmed Neuland’s long-term rating A+/Positive and short-term rating A1 on August 25, 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Aug - Management to participate in Emkay Confluence 2026 investor meetings on August 12, 2026, in Mumbai.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Aug
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 13 Jul - India Ratings affirmed Neuland Laboratories' bank loan rating at IND A+/Positive and IND A1.
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 9 Jul
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 5 Jun - Intimation about Schedule of Analyst / Institutional Investor Meeting on June 11, 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.