Natural Capsules Limited

Natural Capsules Limited

142.82
INR
-7.51
(-5.00%)
-24.01EPS
1.55BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
106.15
109.25
84.03
67.58
68.84
75.58
77.45
118.76
185.22
177.58
162.61
166.89
177
184.45
Basic EPS, GAAP
8.27
9.17
5.88
0.83
1.46
2.53
1.13
11.09
19.84
19.89
5.97
0.63
-23.84
-24.01
Free Cash Flow per Basic Share
13.29
8.81
4.69
2.52
7.04
2.76
2.5
-17.06
-63.97
-95.6
-85.97
-18.18
-0.59
- -
Dividend per Share
1.59
1.37
1.3
1.14
0.82
0.82
0.82
0.6
0.89
0.83
1
- -
- -
- -
Book Value per Share
69.74
73.58
71.76
70.99
71.47
73.01
73.18
81.69
88.76
132.85
168.07
180.12
168.46
- -
Tangible Book Value per Share
69.74
73.58
71.76
70.99
71.47
73.01
73.18
81.69
86.89
131.65
167.57
180.12
168.46
- -
Basic Weighted Avg Shares
6
6
7
8
8
8
8
6
7
9
9
10
10
10
Sales/Revenue/Turnover
585
673
621
514
523
574
589
740
1,299
1,647
1,513
1,642
1,831
1,907
Operating Margin (%)
12.71
10.99
8.81
1.54
2.3
3.49
2.56
10.44
17.68
16.53
6.82
5.5
-10.45
-9.45
Depreciation Expense
36
40
42
43
43
32
41
43
50
72
87
91
171
173
Net Income, GAAP
46
56
43
6
11
19
9
69
139
184
56
6
-247
-248
Effective Tax Rate (%)
38.57
25.05
27.84
- -
33.95
7.16
37.44
24.5
28.23
26.19
31.03
77.88
- -
- -
Profit Margin (%)
7.79
8.39
6.99
1.22
2.12
3.34
1.46
9.34
10.71
11.2
3.67
0.38
-13.47
-13.02
Working Capital
169
162
166
232
268
219
197
163
308
346
473
296
41
- -
LT Debt
60
54
2
- -
- -
- -
- -
5
348
706
679
574
554
- -
Total Equity
427
470
507
540
543
555
556
621
830
1,482
2,288
2,572
2,347
- -
Return on Invested Capital (%)
9.16
10.03
7.06
- -
1.52
2.56
1.41
8.3
14.46
10.78
2.47
0.55
- -
- -
Return on Capital (%)
10.72
11.39
8.22
- -
2.25
3.94
2.16
10.64
14.72
11.01
3.12
0.58
- -
- -
Return on Common Equity (%)
11.48
12.59
8.88
1.2
2.05
3.5
1.54
11.74
19.18
17.89
3.96
0.36
-13.65
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
600
- -
LT Borrowings
- -
547
- -
LT Finance Leases
- -
7
- -
Preferred Equity and Hybrid Capital
- -
467
- -
Shares Outstanding
10
10
10
Market Capitalization
1,717
1,499
1,550

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
1,368
- -
Cash, Cash Equivalents & STI
- -
48
- -
Accounts Receivable, Net
- -
714
- -
Inventories
- -
263
- -
Total Current Liabilities
- -
1,327
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
600
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
19.14%
34.06%
-8.73%
Free Cash Flow
-35.86%
47.11%
-96.57%
Net Income, GAAP
-340.47%
-823.93%
-4,094.72%
Sales/Revenue/Turnover
13.68%
22.84%
11.54%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
392
412
438
450
1,642
2026
452
458
377
585
1,831
2027
487
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.65
-0.6
0.1
0.5
0.63
2026
-5.4
-6.76
-6.88
-4.82
-23.84
2027
-5.55
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -

Company Description

CEO
Sunil Laxminarayan Mundra
Full Time Employees
620
Sector
Health technology
Industry
Pharmaceuticals: other
Address
Trident Towers Bangalore KA India 560011
IPO Date
Aug 3, 1994
Business
Natural Capsules Limited engages in the manufacture and sale of empty hard gelatin and hydroxypropyl methylcellulose (HPMC) capsules, serving the pharmaceutical and dietary supplement industries. Its core products include hard gelatin capsule shells in sizes 00, 0EL, 0, 1, 2, 3, and 4 made from pharmaceutical grade gelatin derived from bovine sources; HPMC vegetarian capsules in similar sizes; specialized gelatin capsules such as titanium dioxide (TiO2) free capsules for compliance with European regulations; printed and unprinted capsule shells; fast release and fortified gelatin capsules; and customized capsule printing services. The company also provides encapsulation services for herbal, nutraceutical, and non-betalactam formulations and manufactures pharmaceutical dosage forms in capsule format. It operates modern manufacturing facilities in Bangalore and Pondicherry, India, with certifications including WHO-GMP, EU GMP, USDMF, HALAL, KOSHER, ISO 9001, and regulatory approvals from US FDA, EDQM, TGA, MCC, and MHRA, supplying to nearly 350 pharmaceutical companies in India and exporting to 34 countries. Founded in 1993 and headquartered in Bengaluru, India, Natural Capsules Ltd has expanded its product portfolio into active pharmaceutical ingredients (APIs) and steroidal APIs through a subsidiary, Natural Biogenex Private Limited. In the last 1-2 years, the company has focused on strengthening its market position by upgrading manufacturing facilities to meet evolving international quality standards and compliance requirements. It continues to innovate with new product lines such as TiO2 free capsules to meet stringent EU regulations and enhance its global competitiveness. The company maintains a strategic commitment to leadership in cellulose capsule supply and pharmaceutical dosage form formulation, reflecting a clear business expansion into integrated capsule manufacturing and formulation services. Natural Capsules Limited operates within the pharmaceuticals and biotechnology sector, targeting pharmaceutical companies and dietary supplement manufacturers globally. Its extensive product range and advanced services cater to both domestic and international markets. The company’s strategic facilities in Bangalore and Pondicherry enable efficient production and distribution. Natural Capsules is recognized for its high-quality capsules known for machinability, precision, and compliance with cGMP and cGLP standards. Recent operational updates emphasize financial growth with increased net sales year-on-year, alongside ongoing board-level governance and management enhancements. This comprehensive product and service portfolio, combined with recent quality certifications and operational improvements, positions Natural Capsules Limited as a key supplier of hard gelatin and HPMC capsules and pharmaceutical formulations with a growing footprint in global pharmaceutical markets.