Wockhardt Limited (WOCKPHARMA) AI Stock Analysis

• Market Cap: ₹196.84B
• Dividend Yield: N/A
• Average Volume (3M): 24.00K
• Price to Earnings (P/E): 100.2
• Beta (1Y): 1.59
• Revenue Growth: 1.19%
• EPS Growth: 93.08%
• Country: IN
• Employees: 2,386
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 3.63
• Shares Outstanding: 162,485,570
• 10 Day Avg. Volume: 15,364
• 30 Day Avg. Volume: 24,000
• PEG Ratio: 5.29
• Price to Book (P/B): 5.18
• Price to Sales (P/S): 7.42
• P/FCF Ratio: -85.35
• 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: 47 Neutral
• Price Target: ₹1,193.00 ▼(-15.12% Downside)
• Action: Reiterated Date: 12/02/25
• Date: Action: Reiterated 12/02/25

Wockhardt Limited's overall stock score reflects significant financial challenges, with persistent net losses and negative cash flows being the most impactful factors. Technical analysis shows mixed signals, with short-term strength but potential long-term weakness. The negative P/E ratio and lack of dividend yield further weigh down the score.

Positive Factors

Gross margin improvement

A near 600bp rise in gross margin signals structural improvements in pricing, product mix or cost control. Sustained higher gross margins increase the company's ability to cover fixed costs and move toward operating profitability over the next several quarters if revenue trends hold.

Lower leverage and stable capital mix

Reduced debt-to-equity and a >50% equity ratio materially improve financial flexibility and lower interest burden. This stronger capital structure supports funding of operations or selective investments without immediate refinancing pressure over the medium term.

Consistent revenue growth

Mid-single-digit to high-single-digit revenue growth reflects ongoing demand across formulations and APIs. Stable top-line expansion provides a base to leverage improved gross margins and scale operating leverage, aiding recovery of profitability over 2-6 months.

Negative Factors

Negative operating and free cash flow

Negative operating and free cash flow reduce internal funding for capex, R&D and working capital, forcing reliance on external financing or asset sales. This structural cash drain increases refinancing and dilution risk and constrains strategic options in the medium term.

Persistent net losses

Ongoing net losses mean the company is not yet converting revenue and gross-profit improvements into bottom-line results. Persistent negative margins pressure retained earnings and shareholder returns, delaying normalization of profitability even if operational gains continue.

Declining shareholders' equity history

A history of falling shareholders' equity weakens the capital buffer available to absorb losses and may limit access to debt or equity financing on favorable terms. This structural deterioration increases funding and solvency risk if losses persist.

Wockhardt Limited Business Overview & Revenue Model

Company Description

Wockhardt Limited, a pharmaceutical and biotechnology company, manufactures and markets active pharmaceutical ingredients, formulations, bio-similars, and vaccines in India, the United States, the United Kingdom, Ireland, Mexico, Russia, and internationally. It develops various molecules primarily in the areas of infectious diseases, such as WCK 5222, WCK 4282, WCK 4873, WCK 771 and WCK 2349, and WCK 6777 molecules. The company's biopharmaceutical products include Glaritus, an insulin analog; Wosulin, an r-DNA insulin; Wepox, a recombinant erythropoietin that is used in the treatment of anemia caused by cancer and chronic renal failure; and Biovac-B, a hepatitis B vaccine. It also provides contract manufacturing services for sterile injectables, lyophilization, and other dosage forms; and research services. The company was founded in 1967 and is headquartered in Mumbai, India. Wockhardt Limited is a subsidiary of Themisto Trustee Company Private Limited.

How the Company Makes Money

Wockhardt primarily makes money by selling pharmaceutical products and related supplies across domestic and export markets. Its key revenue streams generally include: (1) Finished dosage formulations: revenue from manufacturing and selling branded and/or generic medicines (tablets, capsules, injectables, etc.) through channels such as hospital/clinic supply, retail pharmacy distribution, and institutional procurement, depending on the market; (2) APIs and intermediates: revenue from producing and selling active pharmaceutical ingredients and chemical intermediates used in drug manufacturing, either for its own formulations or to external pharmaceutical customers; (3) Contract and partner-led commercialization: revenue generated via product supply arrangements and commercialization partnerships (where applicable), which may include manufacturing for partners, product distribution agreements, or licensing/technology-related arrangements tied to specific products or markets. Earnings are influenced by product mix, regulatory approvals and compliance status in target markets, capacity utilization at manufacturing sites, pricing and competitive dynamics (especially in generics), and foreign-exchange movements for export-linked sales. Specific breakdowns by segment, named partners, or material deal terms are null.

Wockhardt Limited Financial Statement Overview

Summary

Wockhardt Limited faces significant financial challenges, with negative profitability and cash flow metrics. Despite improvements in revenue and gross profit margins, persistent net losses and negative cash flows pose ongoing risks. The balance sheet is stable with improving leverage ratios, but profitability issues need addressing.

Income Statement

Wockhardt Limited's income statement reflects a challenging financial position. Despite a positive revenue growth of 8.01% in the most recent year, the company has consistently recorded net losses over the past few years, reflected in a negative net profit margin. However, the company has managed to improve its gross profit margin to 33.59% in 2025 from 27.68% in 2024, indicating some operational improvements. Both EBIT and EBITDA margins remain weak, though they show improvement from previous years.

Balance Sheet

The balance sheet of Wockhardt Limited presents a mixed picture. The debt-to-equity ratio has improved to 0.46 in 2025 from 0.70 in 2024, reflecting reduced leverage. The company's equity ratio stands at 53.51%, which indicates a stable capital structure. However, the company has faced declining stockholders' equity in previous years, which poses a risk if not managed effectively. Return on equity remains negative due to persistent net losses.

Cash Flow

Wockhardt Limited's cash flow statement highlights significant cash flow challenges. The operating cash flow has turned negative in the latest year, primarily due to net losses. Free cash flow is also negative, reflecting capital expenditure and investment needs not being met by cash generation from operations. The company has shown a volatile free cash flow growth rate, indicating fluctuating operational efficiency.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	30.07B	30.35B	28.30B	26.57B	32.30B	27.08B
Gross Profit	16.72B	18.26B	15.98B	14.85B	18.81B	14.98B
EBITDA	4.53B	3.60B	1.38B	420.00M	2.26B	-1.43B
Net Income	-230.00M	-470.00M	-4.63B	-5.59B	-2.44B	6.86B
Balance Sheet
Total Assets	85.33B	81.35B	76.49B	76.83B	82.43B	77.73B
Cash, Cash Equivalents and Short-Term Investments	9.30B	6.13B	5.23B	1.50B	3.79B	2.38B
Total Debt	24.56B	20.21B	23.56B	21.84B	21.98B	26.73B
Total Liabilities	36.57B	34.78B	39.87B	40.21B	40.41B	40.12B
Stockholders Equity	45.67B	43.53B	33.59B	33.54B	38.49B	33.77B
Cash Flow
Free Cash Flow	1.19B	-2.64B	30.00M	-560.00M	2.01B	-4.53B
Operating Cash Flow	1.89B	-220.00M	2.19B	1.53B	4.13B	-2.87B
Investing Cash Flow	-4.17B	-7.83B	-1.37B	-1.25B	-2.01B	14.70B
Financing Cash Flow	2.97B	4.09B	3.34B	-3.15B	-710.00M	-11.71B

Wockhardt Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1405.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WOCKPHARMA, the sentiment is Negative. The current price of 1405.55 is above the 20-day moving average (MA) of 1341.95, above the 50-day MA of 1376.47, and below the 200-day MA of 1465.81, indicating a bearish trend. The MACD of -31.15 indicates Positive momentum. The RSI at 31.16 is Neutral, neither overbought nor oversold. The STOCH value of 28.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WOCKPHARMA.

Wockhardt Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AUROPHARMA	74 Outperform	₹752.84B	18.87	―	0.33%	7.33%	-3.79%
IPCALAB	74 Outperform	₹395.91B	27.58	―	0.28%	9.66%	25.79%
ALKEM	72 Outperform	₹639.85B	25.97	―	0.80%	9.32%	11.25%
DRREDDY	70 Outperform	₹1.08T	21.88	―	0.63%	14.10%	9.72%
GLENMARK	53 Neutral	₹612.38B	35.61	―	0.24%	30.27%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
WOCKPHARMA	47 Neutral	₹196.84B	100.15	―	―	1.19%	93.08%

Wockhardt Limited Corporate Events

Wockhardt Opens SEBI-Mandated Window for Transfer of Physical Shares

Wockhardt Limited has informed stock exchanges that it has published a newspaper advertisement announcing a special window for re-lodgement of transfer requests for physical shares. The initiative follows a recent SEBI circular aimed at easing investing and protecting investor rights in securities bought before April 1, 2019.

The special window runs from February 5, 2026 to February 4, 2027, during which any physical share transfers lodged will be converted into dematerialised form and be subject to a one-year lock-in from the date of transfer registration. Wockhardt has directed shareholders who missed earlier deadlines to submit their transfer requests to its registrar, MUFG Intime India Private Limited, and has made further details and the advertisement available via its investor relations website.

Wockhardt earns independent ‘Aspiring’ ESG rating for 2025

Wockhardt Limited has been assigned an overall ESG score of 65, rated as “Aspiring,” for 2025 by NSE Sustainability Ratings and Analytics, a SEBI-registered ESG rating provider. The assessment, based solely on public disclosures and information, reflects component scores of 51 for Environmental, 70 for Social, and 74 for Governance, highlighting the company’s strong governance and social practices alongside developing environmental performance.

The company emphasized that it did not engage NSE Sustainability Ratings and Analytics for this evaluation, which was conducted independently, underscoring growing third-party interest in Wockhardt’s ESG profile. The rating signals steady progress and solid transparency in ESG matters, which may strengthen the firm’s positioning with investors and other stakeholders who increasingly weigh sustainability metrics in capital-allocation decisions.

Wockhardt’s Foviscu Matches Meropenem in Phase 3, Bolstering Antibiotic Pipeline

Wockhardt has reported that its novel intravenous antibiotic Foviscu (WCK 4282) met the primary endpoint in a pivotal Phase 3 trial for complicated urinary tract infections and acute pyelonephritis caused by Gram-negative bacteria, including ESBL-producing strains, demonstrating a clinical cure rate of 93.23% and therapeutic equivalence to the carbapenem meropenem with a comparable safety profile. As the fifth proprietary antibiotic from Wockhardt to successfully complete a registration-enabling Phase 3 study, Foviscu is positioned as a potential first-line alternative to carbapenems in a market with high ESBL prevalence and growing resistance to commonly used agents, potentially easing pressure on last-line therapies, improving antibiotic stewardship, and reinforcing Wockhardt’s leadership in the antibiotic discovery space, particularly in India where millions of treatment courses of broad-spectrum antibiotics are used annually.

Wockhardt Receives Independently Assigned ESG Rating of 70 for 2025

Wockhardt Limited has disclosed that CFC Finlease Private Limited, a SEBI-licensed ESG rating provider, has independently assigned the company an ESG rating of 70 for the year 2025, based solely on Wockhardt’s public disclosures and other publicly available information. The company emphasized that it did not engage CFC Finlease for this rating, underscoring that the assessment is voluntary and external, which may enhance transparency for investors and other stakeholders tracking Wockhardt’s environmental, social and governance performance; the information has also been made accessible via the company’s website.

Wockhardt Seeks Pan-European Approval for Novel Antibiotic WCK 5222

Wockhardt has filed a Marketing Authorisation Application with the European Medicines Agency for its novel antibiotic WCK 5222, branded as Zaynich, a fixed-dose combination of Zidebactam and Cefepime designed to treat resistant Gram-negative infections. The EMA has deemed the drug eligible for Accelerated Assessment, and Wockhardt expects approval across all EMA countries, complementing fast-track review already under way at the U.S. FDA and filings in India; as the first New Chemical Entity discovered and developed in India to seek pan-European authorisation, the move marks a significant milestone for both the company and the country’s innovation credentials in addressing life-threatening multi-drug resistant infections.