Ipca Laboratories Ltd. Share Price

Ipca Labs closes below my Rs 1,880 exit at Rs 1,810.69

Ipca Laboratories closed at Rs 1,810.69 on 16 October on StockGro, down 3.8 percent from Rs 1,882.16. That close is below the Rs 1,880 exit level in my 17 September post, carried unchanged in my 8 October post. The exit test has been hit, and the hold stance from 8 October lapses at this close. The cause of the fall is not in any source I checked. The company has not announced a date for its Q2 FY27 results. Univest estimates late October to mid November, and calls that a guess from past timing. The base for the Q2 comparison, from Univest, is Q2 FY26: revenue of Rs 2,556 crore, operating profit of Rs 545 crore, an operating margin of 21.3 percent, and net profit of Rs 281 crore. My 8 October post said Q2 to Q4 guidance implies growth of 11.9 to 14.5 percent. That guidance still stands, but the price now reflects doubt the guidance has not yet answered. Ipca Laboratories [][***** trades at Rs 1,810.69 after the close on StockGro, against a sector P/E of 42.8. At 35.1 times trailing earnings, the stock is no longer in the zone I set for fresh money. My view: exit for holders on this close. The Rs 1,889 to 1,920 accumulation zone from my 8 October post sits about 4 percent above the price, and I do not treat it as an entry until the stock reclaims Rs 1,889 and the Q2 result is out. Fresh money stays out until then. Without both, no fresh money. My exit was a close below Rs 1,880, from my 17 September post, and it has been hit. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.

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Ipca Labs guide implies 11.9% to 14.5% growth for Q2 to Q4

Ipca Laboratories Limited raised its FY27 revenue growth guide to 14 to 16 percent on 13 August. After Q1 grew 20.8 percent, that implies only 11.9 to 14.5 percent for Q2 to Q4. My 17 September view, accumulate at Rs 1,889 to 1,920, still stands. Q1 FY27 numbers (consolidated): - Revenue: Rs 2,788.10 crore, up 20.8% from Rs 2,308.85 crore - EBITDA: Rs 637.94 crore, up 50.2%; margin 22.88% vs 18.39% (company basis) - PAT: Rs 401.89 crore, up 72.3% YoY; EPS Rs 15.84 - FY27 guide: revenue growth 14 to 16% (from 12 to 13%); EBITDA margin about 23% (from 22%) FY26 revenue was Rs 9,646 crore, so the guide means Rs 10,997 to 11,190 crore for FY27. Less Q1, Q2 to Q4 must deliver Rs 8,209 to 8,402 crore against Rs 7,337 crore a year ago. The margin guide is already met at 22.88 percent, so the revenue line is the cautious one. Q2 results are not scheduled; last year's board met on 13 November. Ipca Labs [][***** shares closed at Rs 1,916.18 on 8 October on StockGro (NSE Rs 1,938.40), down 1.31 percent in a month and up 45.51 percent in a year. P/E 37.11; PEG 0.68; sector P/E near 44. The NSE high is Rs 2,038.00 on 22 September. My view: unchanged. Q1 ran at 20.8 percent and the guide needs 12 to 14 percent, so there is room to beat, but 37x trailing earnings already pays for some of it. Holders: hold. Fresh money: accumulate at Rs 1,889 to 1,920; the NSE close is 1 percent above that, so I would not chase. The Rs 1,975 to 2,001 band I flagged on 17 September was cleared on 22 September. My exit is a close below Rs 1,880. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.

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FPIs pour Rs 15,800 crore into pharma since July

Foreign portfolio investors invested ₹15,800 crore into Indian pharmaceutical shares between July and the first half of September. Despite this sector-wide inflow, IPCA Laboratories Limited

, Laurus Labs Limited (LAURUSLABS), and Glenmark Pharmaceuticals Limited (GLENMARK) were the top losers in the Nifty Pharma index on September 25. A ₹15,800 crore inflow over roughly two and a half months represents a substantial, sustained allocation into one sector, not a single day's rotation. Yet on the same day this figure was reported, three specific pharma names sat at the bottom of the sector index, moving opposite to the direction the aggregate flow data would suggest. Aggregate buying and individual stock performance can diverge sharply, even within the same sector and the same time window. Sector-wide FPI inflow data tells you capital is broadly rotating into pharma as a theme, but it says nothing about which specific companies within that sector are receiving that capital versus which ones are being sold even as the sector aggregate rises. IPCA Laboratories, Laurus Labs, and Glenmark Pharmaceuticals underperforming on the same day this inflow figure was published means either the money is concentrated in a narrower set of pharma names, or these three carry company-specific concerns strong enough to offset the sector tailwind. I would want to see the actual FII shareholding change for these three specific companies before assuming the sector inflow number applies evenly. A single sector-level statistic can mask real dispersion underneath it, exactly the kind of gap worth checking rather than assuming. My stance: the sector-level inflow is real, but I am not extending that as a positive read to these three specific names without their own company-level flow data. Watching individual shareholding disclosures for IPCA Laboratories, Laurus Labs, and Glenmark Pharmaceuticals before forming a view on any of them.

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Ipca Labs: Pullback Enters the 4 Sept Entry Zone, Kotak Fund

Ipca Laboratories Limited shares have pulled back from the 4 September close of Rs 1,942.99 to Rs 1,920.20 today, with a session low of Rs 1,889.20 inside the Rs 1,880 to 1,910 accumulation zone identified in the 4 September results post. What changed since 4 September: Decline of 3.59% over the month on pharma sector rotation, no company-specific news Session low Rs 1,889.20 is the first clean test of the Rs 1,880 to 1,910 support since the post Kotak Midcap Fund added 1.23 crore shares in August 2026, new to the register 52-week high Rs 1,975.64; the record high on exchange Rs 2,001.50 remains unretested Q1 FY27 recap: revenue Rs 2,788 crore, up 21%; EBITDA margin 22.88% vs 18.39%; PAT Rs 401.9 crore, up 72%; guidance raised to 14 to 16% revenue growth; medium-term margin target 25 to 26%; brokerage targets Rs 2,000 to 2,118. Ipca Labs [][***** shares trade at Rs 1,920.20 (16 Sep 2026, 03:30 PM IST), up 47.3 percent over one year and 3.6 percent over the past month. P/E 37.2; PEG 0.68; sector P/E 44.64. My view: the 4 September post said the easy money was made and identified Rs 1,880 to 1,910 as the entry. Both the zone and the thesis are unchanged. The session low of Rs 1,889.20 is inside the zone. At 37.2x, PEG 0.68, below the sector's 44.64x and with the guidance raise in the price, this is the entry the post described. Accumulate in the Rs 1,889 to 1,920 zone; invalidation on a close below Rs 1,880; Rs 1,975 to 2,001 the band to clear. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.

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Ipca Labs Q1 FY27: Profit Up 72%, Guidance Raised

Ipca Laboratories Limited reported Q1 FY27 results for the June 2026 quarter on 13 August. Q1 FY27 numbers (consolidated): Revenue: Rs 2,788 crore, up 21% YoY; 7.7% above consensus EBITDA: Rs 638 crore, up 50% YoY; margin 22.88% vs 18.39% PAT: Rs 401.9 crore, up 72% YoY; EPS Rs 15.84 vs Rs 12.43 expected Domestic formulations up 13%; exports Rs 603 crore, up 34%, Europe up 70%; API up 30% Guidance raised: FY27 revenue growth to 14 to 16% from 12 to 13%, EBITDA margin to about 23% from 22%, with 25 to 26% targeted medium term. Two footnotes: institutional exports doubled partly on Rs 40 crore deferred from March, and the weak rupee was a net margin positive. JM Financial, Nuvama and Prabhudas Lilladher hold Buy, targets Rs 2,000 to 2,118. Ipca Labs [][***** shares closed at Rs 1,942.99 on the linked page on 3 September 2026, up 12 percent since results, 39 percent in a year, after a record Rs 2,001.50 in recent sessions. P/E 37.6; PEG 0.7. My view: a deserved re-rating that the market completed before you could act on it. The beat is broad and the guidance raise credible, with Unichem's drag fading and API and Europe running; strip the deferred March shipments and exports still grew about 25 percent. But at 37.6x and a record high, with the street's own targets 3 to 9 percent away, the easy money is made. Hold; fresh entry on a pullback to Rs 1,880 to 1,910, the post-results base, or on evidence the 25 to 26 percent margin path arrives early. Levels: Rs 1,880 to 1,910 support; Rs 1,733 to 1,800 the pre-results shelf; Rs 2,001 the record to clear. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.

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IPCA Laboratories Limited Results Analysis-Q1FY27

Financial performance and key Operating Metrics (Consolidated) : Operating Revenue for Q1FY27 is Rs. 2,788 Crs., 20.76% growth YoY, Total Income is Rs. 2,813 Crs., 20.15% growth YoY, Gross Profit is Rs. 1,991 Crs., 23.09% growth YoY, EBITDA is Rs. 670 Crs., 49.08% growth YoY, EBITDA Margin is 24% improved by 483 basis points YoY, PBT Rs. 572 Crs., 73.09% growth YoY, PAT Rs. 423 Crs. 80.36% growth YoY. On QoQ basis Operating Revenue is up by 16.73%, Total Income is also up by 13.34%, Gross Profit is up by 17.32%, EBITDA is up by 15.91%, PBT is up by 41.45% and PAT is also up by 36.65%. Q1 as strong execution despite logistics/supply volatility. Almost all businesses has delivered good growth for the company for the first quarter. Domestic formulations revenue: +13% YoY to ~INR 1,082 cr (vs INR 961 cr). Overall exports: +34% YoY to ~INR 603 cr (vs ~INR 450 cr). API Business: Solid Growth; Capacity Constraints Driving Capex FY27 revenue growth: Previously 12–13%, now upgraded to ~14–16%. Rationale: “upside… from the overall generic business, India business performing very well… API business has given good growth.” FY27 consolidated EBITDA margin: Raised from ~22% to ~23%: “because of better performance.” Headwinds: container shortages, shipment delays, sharp freight inflation, raw-material price volatility, and FX-linked opex inflation in overseas operations.

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