Kopran Limited (KOPRAN) AI Stock Analysis

• Market Cap: ₹5.99B
• Dividend Yield: 1.96%
• Average Volume (3M): 13.07K
• Price to Earnings (P/E): 19.4
• Beta (1Y): 1.24
• Revenue Growth: -6.96%
• EPS Growth: -66.75%
• Country: IN
• Employees: 842
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - General
• EPS (TTM): 1.93
• Shares Outstanding: 48,285,606
• 10 Day Avg. Volume: 27,236
• 30 Day Avg. Volume: 13,071
• PEG Ratio: -0.96
• Price to Book (P/B): 1.74
• Price to Sales (P/S): 1.44
• P/FCF Ratio: -67.21
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: ₹128.00 ▼(-15.90% Downside)
• Action: Reiterated Date: 12/03/25
• Date: Action: Reiterated 12/03/25

Kopran Limited's overall stock score is primarily influenced by its financial performance, which shows strong revenue growth and operational efficiency but faces challenges in cash flow conversion. Technical analysis indicates a bearish trend, and valuation metrics suggest the stock may be overvalued. The lack of earnings call and corporate events data limits further insights.

Positive Factors

Balance sheet strength

A high equity ratio and low debt-to-equity provide durable financial resilience, lowering default and refinancing risk. This capitalization supports sustained R&D, regulatory compliance and capacity investments, enabling long-term supply commitments and strategic optionality without overreliance on external funding.

Operating efficiency and margin structure

Strong gross and improved EBIT margins reflect scalable manufacturing and disciplined cost control across API and formulation lines. Higher operating profitability increases cash generation potential when converted, supports reinvestment and pricing flexibility, and underpins competitive durability in commodity cycles.

Integrated API and formulations model

Vertical scope across APIs and FDFs plus domestic and export channels reduces reliance on a single product or market. Integration allows capture of upstream margins, improves supply security for customers, and creates multiple growth levers that remain relevant as global pharma demand and outsourcing trends persist.

Negative Factors

Weak free cash flow conversion

Persistent negative free cash flow despite positive operating cash flow signals capital intensity or working capital strain. Over months this constrains self-funding of growth, dividends or debt reduction, may force external financing, and reduces margin between accounting profits and available liquidity for strategic moves.

Declining return on equity

A falling ROE indicates reduced efficiency in converting equity into profits. Over the medium term this can pressure investor returns and suggest that incremental capital is generating lower yields, complicating capital allocation and potentially necessitating operational changes to restore longer-term shareholder value.

Net margin and EBITDA pressure

Compression of net and EBITDA margins despite revenue growth points to cost, pricing or mix headwinds. Sustained margin pressure erodes cash available for reinvestment and debt service, making it harder to capture benefits of scale and potentially limiting funding for regulatory or capacity projects over the coming months.

Kopran Limited Business Overview & Revenue Model

Company Description

Kopran Limited, an integrated pharmaceutical company, manufactures and sells active pharmaceutical ingredients and finished dosage forms in India and internationally. The company offers its products in various dosage forms, including tablets, capsules, dry powder, suspension, and injectables. It also provides active pharmaceutical ingredients in the categories of macrolide, antibacterial, anticonvulsant, anti-hypertensive, anti-helmentics, anti-histamine, anti-acne, anti-infective, urological, anti-thrombotic, antidiabetic, pain management, gastroenterology, and cardiovascular. The company was incorporated in 1958 and is headquartered in Mumbai, India.

How the Company Makes Money

Kopran generates revenue through multiple streams, primarily from the sale of its pharmaceutical formulations and APIs. The company has established a strong presence in both the domestic and export markets, leveraging its manufacturing capabilities to produce a diverse range of products. Key revenue sources include direct sales to healthcare providers, hospitals, and pharmacies, as well as partnerships with other pharmaceutical companies for contract manufacturing and distribution. Additionally, Kopran capitalizes on regulatory approvals to expand its product offerings and enter new markets, which enhances its revenue potential. Strategic alliances and collaborations with international firms also contribute to its earnings, allowing for broader market access and increased sales volume.

Kopran Limited Financial Statement Overview

Summary

Kopran Limited shows strong revenue growth and operational efficiency improvements. The balance sheet indicates a robust equity position and prudent debt management. However, challenges exist in converting profits to free cash flow, and there is a decline in net profit margin and return on equity.

Income Statement

Kopran Limited has demonstrated steady revenue growth with a notable increase from 2024 to 2025, showing a revenue growth rate of 3.2%. The gross profit margin for 2025 is 35.7%, reflecting efficient cost management. However, net profit margin declined to 6.1% in 2025 from 8.4% in 2024, indicating pressure on net profitability despite higher revenues. The EBIT margin improved significantly to 26.1% in 2025, suggesting enhanced operational efficiency. EBITDA margin decreased slightly to 11.6% in 2025, indicating some challenges in maintaining earnings before amortization and depreciation.

Balance Sheet

The balance sheet reveals a solid equity base, with equity ratio improving to 61.4% in 2025, indicating strong capitalization. The debt-to-equity ratio is 0.29, reflecting prudent leverage. However, the return on equity has decreased to 7.4% in 2025 from 10.4% in 2024, highlighting challenges in generating returns from equity. The overall stability is strong, but there is room for improvement in leveraging equity more effectively.

Cash Flow

Kopran Limited faces challenges in cash flow management, with free cash flow remaining negative in 2025 despite operating cash flow being positive. The free cash flow to net income ratio is -0.35, indicating inefficiencies in converting profits into free cash flows. The operating cash flow to net income ratio is 1.09, suggesting that operating cash flow supports net income, but capital expenditures weigh heavily on free cash flow.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.25B	6.30B	6.15B	5.48B	4.74B	4.81B
Gross Profit	2.21B	2.25B	2.09B	1.86B	1.90B	1.67B
EBITDA	695.48M	729.00M	868.18M	548.77M	980.11M	997.82M
Net Income	349.06M	385.52M	509.56M	272.33M	610.31M	616.06M
Balance Sheet
Total Assets	0.00	8.44B	7.43B	6.50B	6.11B	4.39B
Cash, Cash Equivalents and Short-Term Investments	258.64M	258.64M	80.91M	73.97M	58.68M	9.35M
Total Debt	0.00	1.48B	992.28M	752.38M	745.49M	663.02M
Total Liabilities	-5.18B	3.26B	2.52B	2.10B	1.85B	1.94B
Stockholders Equity	5.18B	5.18B	4.91B	4.39B	4.26B	2.45B
Cash Flow
Free Cash Flow	0.00	-134.46M	-133.56M	-270.22M	-757.47M	355.37M
Operating Cash Flow	0.00	419.42M	432.58M	340.23M	-334.75M	599.51M
Investing Cash Flow	0.00	-564.28M	-435.52M	-126.50M	-844.15M	-252.79M
Financing Cash Flow	0.00	258.68M	9.88M	-198.44M	1.23B	-345.71M

Kopran Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 152.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KOPRAN, the sentiment is Negative. The current price of 152.2 is above the 20-day moving average (MA) of 133.24, above the 50-day MA of 138.63, and below the 200-day MA of 159.10, indicating a bearish trend. The MACD of -3.17 indicates Positive momentum. The RSI at 35.68 is Neutral, neither overbought nor oversold. The STOCH value of 15.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KOPRAN.

Kopran Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LINCOLN	78 Outperform	₹12.49B	8.47	―	0.37%	―	―
SAKAR	66 Neutral	₹11.59B	22.21	―	―	24.20%	55.01%
WANBURY	64 Neutral	₹8.73B	12.53	―	―	8.92%	-5.56%
ANUHPHR	62 Neutral	₹7.80B	14.99	―	1.92%	14.09%	-34.41%
KOPRAN	57 Neutral	₹5.99B	19.44	―	1.96%	-6.96%	-66.75%
KILITCH	57 Neutral	₹5.67B	34.53	―	―	32.95%	67.39%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Kopran Limited Corporate Events

Kopran Closes Trading Window Ahead of Q3 Results Under SEBI Norms

Kopran Limited has announced that its trading window for dealing in the company’s securities will be closed for directors, designated persons and their immediate relatives from 1 January 2026 until 48 hours after the announcement of its unaudited financial results for the third quarter ended 31 December 2025, in line with SEBI’s Prohibition of Insider Trading Regulations and the company’s internal code for handling unpublished price-sensitive information. The board meeting date to consider and approve these Q3 FY2025-26 results will be communicated later, and the move underscores the company’s adherence to regulatory norms aimed at safeguarding market integrity and preventing insider trading during sensitive financial disclosure periods.