Lactose (India) Limited

Lactose (India) Limited

LACTOSE.BO
Lactose (India) LimitedIN flagBombay Stock Exchange
103.05
INR
+0.05
- -
1.30BMarket Cap
Lactose (India) Limited
LACTOSE.BO
(Bombay Stock Exchange)

Recent

price

103.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
36.34
54.44
63.76
28.41
27.7
40.63
36.14
31.31
39.51
38.15
33.28
38.6
51.56
90.39
92.44
- -
129.61
Revenue per Share
1.03
0.95
1.34
0.03
0.6
3.3
2.88
-1.37
0.71
0.07
-2.4
2.1
0.96
5.39
4.1
- -
4.81
Basic EPS, GAAP
2.03
-10
3.1
-16.16
-11.44
-0.54
4
-2.12
2.85
4.39
-3.22
6.11
5.03
5.21
-11.65
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
15.27
16.22
17.97
17.62
17.37
22.95
23.85
22.76
22.77
22.36
21.17
21.77
21.16
26.55
30.65
- -
9.99
Book Value per Share
16.49
17.78
20.04
19.57
19.09
26.19
27.63
32.69
33.93
33.21
34
33.61
32.21
37.37
46.6
- -
51.35
Tangible Book Value per Share
7
7
7
8
8
8
10
10
10
10
10
12
13
13
13
- -
13
Basic Weighted Avg Shares
265
397
465
218
230
345
350
304
399
393
343
451
649
1,138
1,164
1,633
1,633
Sales/Revenue/Turnover
2.98
4.62
3.1
-5.74
13.9
21.21
23.57
6.92
15.05
13.82
6.92
17.14
10.31
12.13
9.94
7.74
7.39
Operating Margin (%)
16
17
18
24
19
33
34
36
36
39
44
46
47
52
54
57
57
Depreciation Expense
8
7
10
- -
5
28
28
-13
7
1
-25
25
12
68
52
61
61
Net Income, GAAP
1.74
32.74
30.24
51.88
41.78
27.86
36.3
- -
32.97
27.49
- -
22.58
17.47
29.75
25.37
29.67
29.67
Effective Tax Rate (%)
2.84
1.74
2.09
0.12
2.17
8.13
7.96
-4.37
1.81
0.18
-7.22
5.44
1.86
5.97
4.44
3.71
3.71
Profit Margin (%)
-24
60
25
-28
-73
-86
-99
43
56
84
81
78
109
100
124
88
88
Working Capital
2
13
47
196
288
225
196
340
315
349
396
345
326
249
259
234
234
LT Debt
120
130
146
150
159
222
267
318
342
343
351
393
406
471
587
648
648
Total Equity
4.45
6.83
4.91
-1.99
4.06
9.48
8.86
- -
5.73
5.45
- -
7.38
6.87
11.6
8.47
7.26
6.94
Return on Invested Capital (%)
4.52
7.13
7
1.81
4.39
11.05
9.84
- -
7.22
6.72
- -
9.5
9.28
15.18
11.56
11.31
11.31
Return on Capital (%)
7.12
6.02
7.82
0.2
3.57
16.53
13.09
-5.88
3.19
0.31
-11.04
10.37
4.64
22.6
14.34
23.69
23.69
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
282
- -
391
LT Borrowings
256
- -
229
LT Finance Leases
3
- -
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
13
- -
13
Market Capitalization
1,593
1,293
1,013

Working Capital

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
561
- -
986
Cash, Cash Equivalents & STI
59
- -
13
Accounts Receivable, Net
238
- -
335
Inventories
192
- -
559
Total Current Liabilities
447
- -
898
Payables & Accruals
- -
- -
- -
ST Debt
282
- -
391
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.58%
13.27%
10.3%
Free Cash Flow
-216.43%
-142.53%
-66.41%
Net Income, GAAP
-372.79%
41.12%
17.43%
Sales/Revenue/Turnover
19.87%
38.65%
40.28%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
275
244
326
293
1,138
2025
295
304
287
278
1,164
2026
396
412
368
458
1,633

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.76
0.64
2.09
- -
5.39
2025
1.8
1.61
0.17
0.51
4.1
2026
1.19
1.71
0.42
1.49
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Lactose (India) Limited manufactures pharmaceutical-grade excipients and active pharmaceutical ingredients, primarily Lactose Monohydrate IP/BP/EP/USP-NF grades and Lactulose Concentrate USP and Lactulose Solution USP/EP; it also provides contract manufacturing services for solid dosage forms including dry granulated, film-coated, and lacquer-coated tablets, as well as liquid orals and finished formulations. The company, founded in 1991 and headquartered in Vadodara, Gujarat, India, operates a state-of-the-art facility with an annual production capacity of 10,000 MT for Lactose Monohydrate and 2,400 MT for Lactulose, making it the largest producer of Lactose Monohydrate in Southeast Asia and the first in Asia for Lactulose production. Its products serve the pharmaceutical industry for applications in tablets, treatments for constipation, hepatic encephalopathy, chronic liver disease, and as prebiotics, with additional exports of uncoated and blister-packed solid doses under NAFDAC approval and liquid filling lines holding Health Canada and WHO-GMP certifications. In recent developments, the company launched its Lactulose production facility in 2023, producing Lactulose Concentrate USP and Solution USP/EP for the first time in Asia, and commenced its own marketing and sales of Lactose Monohydrate in 2022 after previously relying on strategic alliances such as with Kerry Group of Ireland for 10,000 MT annual capacity. It continues long-term exclusive contract manufacturing for Sanofi India with a fully utilized capacity of 30 million tablets per month and expanded into liquid orals for clients like Dr. Reddy's, while planning capacity doublings to 20,000 MT for Lactose and 3,500-5,000 MT for Lactulose to target growth in South Asia, Africa, and prebiotic applications. In December 2024, Lactose India allotted 1.5 million warrants convertible into equity shares on a preferential basis following BSE approval, supporting its expansion initiatives. The company maintains operations focused on international pharmacopeia compliance, serving major clients including Abbott, Pfizer, Sun Pharma, and Lupin, with facilities strategically located 250 km from Nhava Sheva Port to supply Southeast Asia-Pacific, Middle East, North Africa, and Europe.