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Bafna Pharmaceuticals Limited
(BAFNAPH)
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Rating:59Neutral
Price Target:
₹229.00
▲(48.08% Upside)
Action:Reiterated
Date:07/01/26
The score is held back primarily by fundamentals—especially persistently weak free cash flow—despite solid multi-year revenue growth and a reasonably sound balance sheet. Technicals are strong with the stock trading well above major moving averages, but valuation is a meaningful headwind due to the high P/E and no stated dividend yield.
Positive Factors
Multi-year revenue growth
Consistent multi-year top-line expansion from 2021–2026 indicates the company has scaled sales and market reach. Durable revenue growth supports fixed-cost absorption, manufacturing utilization and reinvestment potential, underpinning longer-term earnings capacity if margin stability improves.
Negative Factors
Persistent negative free cash flow
Repeated negative free cash flow across most years materially reduces internal funding for capex, debt paydown or shareholder returns. Structural FCF deficits increase reliance on external financing and constrain strategic flexibility, raising medium-term funding and execution risk if not reversed.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue growth
Consistent multi-year top-line expansion from 2021–2026 indicates the company has scaled sales and market reach. Durable revenue growth supports fixed-cost absorption, manufacturing utilization and reinvestment potential, underpinning longer-term earnings capacity if margin stability improves.
Read all positive factors
Bafna Pharmaceuticals Limited (BAFNAPH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.42B
Dividend YieldN/A
Average Volume (3M)1.19K
Price to Earnings (P/E)48.2
Beta (1Y)0.66
Revenue Growth3.26%
EPS Growth167.18%
CountryIN
Employees406
SectorGeneral
Sector StrengthN/A
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)4.69
Shares Outstanding23,656,336
10 Day Avg. Volume1,123
30 Day Avg. Volume1,187
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)2.69
Price to Sales (P/S)1.72
P/FCF Ratio-19.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bafna Pharmaceuticals Limited Business Overview & Revenue Model
Company Description
Bafna Pharmaceuticals Limited manufactures and sells finished pharmaceutical formulations in India. It also exports its products to Europe, the United Kingdom, Australia, Sri Lanka, Africa, Philippines, Tanzania, Nigeria, and Commonwealth countrie...
How the Company Makes Money
Bafna Pharmaceuticals primarily makes money by manufacturing and selling generic pharmaceutical formulations (finished dosage medicines). Revenue is generated through (1) direct sales of its own branded and/or generic products to wholesalers, dist...
Bafna Pharmaceuticals Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
38
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.51B | 1.46B | 1.52B | 1.15B | 851.40M |
| Gross Profit | 201.42M | 168.77M | 452.15M | 387.56M | 338.60M |
| EBITDA | 207.04M | 117.73M | 146.34M | 189.88M | 112.34M |
| Net Income | 111.00M | 41.52M | 73.48M | 113.38M | 52.16M |
Balance Sheet | |||||
| Total Assets | 1.76B | 1.53B | 1.48B | 1.30B | 901.45M |
| Cash, Cash Equivalents and Short-Term Investments | 20.25M | 34.33M | 13.96M | 78.09M | 194.00K |
| Total Debt | 374.33M | 281.99M | 243.89M | 229.24M | 110.59M |
| Total Liabilities | 793.83M | 682.73M | 668.43M | 561.29M | 281.81M |
| Stockholders Equity | 961.50M | 848.07M | 808.39M | 734.55M | 619.64M |
Cash Flow | |||||
| Free Cash Flow | -130.76M | -23.31M | -60.93M | -32.66M | 21.87M |
| Operating Cash Flow | 118.27M | 195.29M | 94.85M | 49.52M | 97.28M |
| Investing Cash Flow | -224.69M | -213.02M | -150.54M | -74.93M | -65.44M |
| Financing Cash Flow | 92.35M | 38.09M | -8.45M | 101.77M | -48.15M |
Bafna Pharmaceuticals Limited Technical Analysis
Positive
154.65
Price Trends
170.50
Positive
145.28
Positive
148.04
Positive
Market Momentum
14.24
Positive
68.33
Neutral
81.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAFNAPH, the sentiment is Positive. The current price of 154.65 is below the 20-day moving average (MA) of 204.01, below the 50-day MA of 170.50, and above the 200-day MA of 148.04, indicating a bullish trend. The MACD of 14.24 indicates Positive momentum. The RSI at 68.33 is Neutral, neither overbought nor oversold. The STOCH value of 81.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BAFNAPH.
Bafna Pharmaceuticals Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹78.57B | 25.38 | ― | 4.73% | -12.98% | -21.81% | |
71 Outperform | ₹66.69B | 31.90 | ― | 0.13% | 18.86% | 11.25% | |
61 Neutral | ₹6.43B | 20.44 | ― | ― | 18.74% | 11.32% | |
59 Neutral | ₹5.42B | 48.16 | ― | ― | 3.26% | 167.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹309.00B | 144.98 | ― | ― | 11.99% | ― | |
50 Neutral | ₹28.23B | -57.79 | ― | 0.58% | -7.91% | -153.72% |
* General Sector Average
IN:BAFNAPH
Bafna Pharmaceuticals Limited
229.05
139.40
155.49%
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Bafna Pharmaceuticals Limited Corporate Events
Exchange Seeks Clarification from Bafna Pharmaceuticals on Sharp Share Price Move
Apr 13, 2026
Significant price movement in the shares of Bafna Pharmaceuticals Limited has prompted the stock exchange to seek updated, relevant information from the company to safeguard investor interests. The exchange has formally written to Bafna Pharmaceut...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.