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Morepen Laboratories Limited
(MOREPENLAB)
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Rating:58Neutral
Price Target:
₹62.00
▲(47.65% Upside)
Action:Reiterated
Date:07/01/26
The score is held back primarily by weak cash-flow quality (persistently negative free cash flow and historically volatile cash generation) despite improved profitability and a still-manageable balance sheet. Technicals are supportive with the stock trading above major moving averages, but a relatively high P/E and low dividend yield make valuation less attractive.
Positive Factors
Diversified revenue streams
Morepen’s mix of APIs, finished dosage formulations, and consumer healthcare products reduces single-market and single-customer concentration. This structural diversification supports revenue resilience, cross-selling, and multiple cash generation channels that remain relevant over a 2–6 month horizon.
Negative Factors
Weak cash conversion
Operating cash flow remains small relative to reported earnings and free cash flow was negative for 2024–2026. Persistent negative FCF and volatile cash conversion constrain internal funding for growth or dividends, increase dependence on external financing, and raise sustainability concerns.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue streams
Morepen’s mix of APIs, finished dosage formulations, and consumer healthcare products reduces single-market and single-customer concentration. This structural diversification supports revenue resilience, cross-selling, and multiple cash generation channels that remain relevant over a 2–6 month horizon.
Read all positive factors
Morepen Laboratories Limited (MOREPENLAB) vs. iShares MSCI India ETF (INDA)
Market Cap
₹34.30B
Dividend Yield0.49%
Average Volume (3M)88.30K
Price to Earnings (P/E)35.4
Beta (1Y)1.83
Revenue Growth-0.32%
EPS Growth-22.18%
CountryIN
Employees2,152
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)1.73
Shares Outstanding547,953,700
10 Day Avg. Volume126,704
30 Day Avg. Volume88,304
Financial Highlights & Ratios
PEG Ratio-1.01
Price to Book (P/B)1.64
Price to Sales (P/S)1.13
P/FCF Ratio-14.14
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
Morepen Laboratories Limited Business Overview & Revenue Model
Company Description
Morepen Laboratories Limited is an Indian pharmaceutical company primarily engaged in the development, manufacturing, marketing, and distribution of active pharmaceutical ingredients (APIs), proprietary and generic pharmaceutical formulations, and...
How the Company Makes Money
Morepen Laboratories makes money primarily by selling pharmaceutical and healthcare products through multiple revenue streams. (1) APIs: It manufactures APIs and sells them in bulk to other pharmaceutical companies that use these ingredients to pr...
Morepen Laboratories Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.06B | 18.30B | 17.02B | 14.18B | 15.42B |
| Gross Profit | 6.82B | 6.30B | 6.18B | 2.19B | 4.81B |
| EBITDA | 1.73B | 1.92B | 1.73B | 856.66M | 1.57B |
| Net Income | 948.77M | 1.18B | 961.60M | 386.75M | 1.02B |
Balance Sheet | |||||
| Total Assets | 19.36B | 17.78B | 12.93B | 11.10B | 10.70B |
| Cash, Cash Equivalents and Short-Term Investments | 916.99M | 1.27B | 169.45M | 216.66M | 158.03M |
| Total Debt | 2.08B | 1.05B | 289.99M | 251.64M | 1.33B |
| Total Liabilities | 6.89B | 5.91B | 4.46B | 3.58B | 4.92B |
| Stockholders Equity | 12.46B | 11.56B | 8.47B | 7.53B | 5.79B |
Cash Flow | |||||
| Free Cash Flow | -1.44B | -919.76M | -79.61M | -1.37B | -1.25B |
| Operating Cash Flow | 162.28M | 320.57M | 733.75M | -911.71M | -577.58M |
| Investing Cash Flow | -1.22B | -3.22B | -833.00M | -465.09M | -316.79M |
| Financing Cash Flow | 1.13B | 3.00B | 52.05M | 1.44B | 663.34M |
Morepen Laboratories Limited Technical Analysis
Positive
41.99
Price Trends
49.44
Positive
44.72
Positive
44.17
Positive
Market Momentum
3.87
Negative
69.40
Neutral
71.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MOREPENLAB, the sentiment is Positive. The current price of 41.99 is below the 20-day moving average (MA) of 56.75, below the 50-day MA of 49.44, and below the 200-day MA of 44.17, indicating a bullish trend. The MACD of 3.87 indicates Negative momentum. The RSI at 69.40 is Neutral, neither overbought nor oversold. The STOCH value of 71.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MOREPENLAB.
Morepen Laboratories Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹22.77B | 7.25 | ― | 2.36% | 8.16% | 2.16% | |
64 Neutral | ₹18.03B | 26.58 | ― | 0.71% | 18.98% | 8.30% | |
58 Neutral | ₹34.30B | 35.40 | ― | 0.49% | -0.32% | -22.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹27.50B | -356.54 | ― | ― | 6.64% | -177.19% | |
50 Neutral | ₹29.23B | -60.85 | ― | 0.58% | -7.91% | -153.72% | |
43 Neutral | ₹22.88B | -23.24 | ― | 0.08% | 10.73% | -31.79% |
* General Sector Average
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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.