Ipca Laboratories IPCALAB
Vertically integrated maker of branded formulations (pain - Zerodol, anti-malarials, cardiac) and APIs, with Unichem adding US/Europe generics
Mapped in 1 theme: Pharmaceuticals.
Where Ipca Laboratories sits in the supply chain
Ipca Laboratories appears in 2 supply-chain layers in one theme, Pharmaceuticals.
Pharmaceuticals › India branded formulations
OperatorOther companies in this layer
Pharmaceuticals › APIs (active ingredients)
Direct supplierOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 7,662 | 8,897 | 9,599 |
| Net profit | 523 | 785 | 1,184 |
Latest-year revenue ₹9,599 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Backward integration into its own APIs protects margins in pain and anti-malarial franchises
- India branded growth consistently above market in pain/rheumatology
- Unichem acquisition (2023) gives a ready US and European generics platform
Risks
- Past USFDA import alert (2015) on key sites still shapes US ambitions
- Anti-malarial institutional business is tender-driven and lumpy
- Unichem integration and margin repair are still in progress
Common questions
What does Ipca Laboratories do?
Vertically integrated maker of branded formulations (pain - Zerodol, anti-malarials, cardiac) and APIs, with Unichem adding US/Europe generics.
Where does Ipca Laboratories sit in the supply chain?
Ipca Laboratories (NSE: IPCALAB) is mapped in 2 supply-chain layers: India branded formulations (Pharmaceuticals) and APIs (active ingredients) (Pharmaceuticals).
Who are Ipca Laboratories' peers?
In the India branded formulations layer of Pharmaceuticals: Sun Pharmaceutical Industries, Mankind Pharma, Torrent Pharmaceuticals, Alkem Laboratories, Abbott India, Eris Lifesciences and 4 more.
What is Ipca Laboratories' market cap and valuation?
As of 30 Oct 2026: market cap ₹48,918 Cr, P/E 35.6x, ROCE 17.0%, ROE 15.7%, dividend yield 0.31%.