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Indian (NIFTY) Pharma Industry Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies179
  • 7D1.8%
  • 3M-0.6%
  • 1Y8.9%
  • YTD0.9%

The Pharma industry is up 1.8% in the last week, with Sun Pharmaceutical Industries up 2.3%. In the last 12 months, the industry was up 8.9%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the Indian Pharma Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Feb 2026₹20.6t₹4.3t₹620.8b26.7x33.1x4.7x
Sat, 24 Jan 2026₹19.5t₹4.2t₹611.7b27.8x31.8x4.6x
Mon, 22 Dec 2025₹20.5t₹4.2t₹614.5b28.2x33.3x4.8x
Wed, 19 Nov 2025₹20.4t₹4.2t₹611.1b30x33.4x4.9x
Fri, 17 Oct 2025₹20.2t₹4.1t₹589.5b30.4x34.3x5x
Sun, 14 Sep 2025₹20.6t₹4.1t₹589.1b31.5x35x5.1x
Tue, 12 Aug 2025₹20.0t₹4.1t₹592.8b31.2x33.7x4.9x
Thu, 10 Jul 2025₹20.5t₹4.0t₹594.1b33x34.4x5.1x
Sat, 07 Jun 2025₹20.2t₹4.0t₹595.4b33.3x33.9x5.1x
Mon, 05 May 2025₹19.6t₹3.9t₹563.0b29.4x34.8x5x
Wed, 02 Apr 2025₹19.1t₹3.9t₹559.4b29.5x34.2x4.9x
Fri, 28 Feb 2025₹18.4t₹3.9t₹561.5b26.9x32.8x4.7x
Sun, 26 Jan 2025₹19.9t₹3.8t₹531.6b31.6x37.5x5.2x
Tue, 24 Dec 2024₹20.8t₹3.8t₹526.7b33.9x39.5x5.5x
Thu, 21 Nov 2024₹20.1t₹3.8t₹526.7b32.2x38.2x5.3x
Sat, 19 Oct 2024₹21.5t₹3.7t₹492.6b40.4x43.7x5.8x
Mon, 16 Sep 2024₹21.7t₹3.7t₹492.6b42.8x44.1x5.8x
Wed, 14 Aug 2024₹20.3t₹3.8t₹488.7b35.1x41.5x5.4x
Fri, 12 Jul 2024₹18.6t₹3.6t₹449.9b34.6x41.4x5.2x
Sun, 09 Jun 2024₹17.4t₹3.6t₹448.1b32.7x38.8x4.9x
Tue, 07 May 2024₹17.2t₹3.5t₹418.8b34.6x41x4.9x
Thu, 04 Apr 2024₹17.2t₹3.5t₹418.9b33x41x4.9x
Sat, 02 Mar 2024₹16.9t₹3.5t₹418.7b33.2x40.4x4.9x
Mon, 29 Jan 2024₹15.8t₹3.4t₹396.1b34.6x39.8x4.7x
Wed, 27 Dec 2023₹14.7t₹3.4t₹395.2b32.5x37.3x4.4x
Fri, 24 Nov 2023₹14.0t₹3.4t₹395.1b31x35.4x4.1x
Sun, 22 Oct 2023₹13.1t₹3.3t₹368.0b29.8x35.6x4x
Tue, 19 Sep 2023₹13.1t₹3.3t₹369.5b29.9x35.6x4x
Thu, 17 Aug 2023₹13.1t₹3.3t₹367.0b29x35.7x4x
Sat, 15 Jul 2023₹11.9t₹3.2t₹342.4b26.3x34.9x3.8x
Mon, 12 Jun 2023₹11.0t₹3.2t₹342.4b26x32.1x3.5x
Wed, 10 May 2023₹10.6t₹3.1t₹292.7b27.3x36.2x3.4x
Fri, 07 Apr 2023₹9.8t₹3.0t₹277.5b24.5x35.2x3.3x
Sun, 05 Mar 2023₹9.4t₹3.0t₹277.5b23x33.9x3.1x
Price to Earnings Ratio

33.9x


Total Market Cap: ₹9.4tTotal Earnings: ₹277.5bTotal Revenue: ₹3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Pharma Industry Price to Earnings3Y Average 36.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Pharmaceuticals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 33.1x which is lower than its 3-year average PE of 36.6x.
  • The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have grown 31% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Healthcare industry?

IN Market-0.97%
Healthcare1.31%
Pharma1.78%
Pharma1.78%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SUNPHARMA Sun Pharmaceutical Industries₹1.76k2.3%
+₹95.5b		9.3%PE38.8x
500420 Torrent Pharmaceuticals₹4.42k5.0%
+₹71.1b		45.9%PE65.8x
MANKIND Mankind Pharma₹2.16k3.9%
+₹33.1b		-8.0%PE49.9x
500257 Lupin₹2.29k3.0%
+₹30.3b		21.0%PE22.6x
AUROPHARMA Aurobindo Pharma₹1.21k4.5%
+₹30.1b		12.1%PE20.2x

Latest News

PPLPHARMA
₹161.06
Piramal Pharma
7D
-3.0%
1Y
-23.6%

PPLPHARMA: Future Upside Will Stem From Portfolio Expansion And Compliance Progress

Analysts have kept Piramal Pharma's fair value estimate steady at ₹204.6 while trimming the assumed future P/E multiple from 36.72x to 29.82x, reflecting a more conservative view on how much investors may eventually be willing to pay for its earnings. What's in the News Piramal Pharma plans to look for acquisitions, with CEO Peter DeYoung highlighting co-development, licensing, and acquisitions as key ways to add to the portfolio alongside growth in the existing base business, including the inhalation portfolio outside the U.S. as more markets are registered from the Digwal facility (Key Developments).
500257
₹2,292.45
Lupin
7D
3.0%
1Y
21.0%
AUROPHARMA
₹1,211.50
Aurobindo Pharma
7D
4.5%
1Y
12.1%

AUROPHARMA: Margin Assumptions And Lower P/E Multiple Will Test Execution

Analysts have nudged their price target for Aurobindo Pharma slightly higher to ₹1,046.76 from ₹1,043.83, citing adjustments to profit margin assumptions and a lower forward P/E multiple in their updated models. Analyst Commentary Even with the modest upward tweak to the price target, some bearish analysts are still flagging risks that could cap upside for Aurobindo Pharma if execution or assumptions do not line up with reality.
APLLTD
₹739.90
Alembic Pharmaceuticals
7D
-4.6%
1Y
-6.6%

APLLTD: US Approvals And Margin Profile Will Guide A Steady Outlook

Analysts have maintained their fair value estimate for Alembic Pharmaceuticals at ₹845. They have made modest adjustments to assumptions around revenue growth, profit margin, and future P/E to reflect updated views on the company’s earnings profile, without changing the overall price target.
MANKIND
₹2,155.70
Mankind Pharma
7D
3.9%
1Y
-8.0%

MANKIND: Upcoming Results Will Support Further Upside Despite Modest Assumption Cuts

Analysts have trimmed their price target for Mankind Pharma from about ₹2,631 to about ₹2,537. This reflects slightly lower assumptions for revenue growth, profit margins and future P/E multiples, alongside a modestly reduced discount rate.
ALKEM
₹5,625.00
Alkem Laboratories
7D
2.9%
1Y
23.3%

ALKEM: Long Dated US Settlements And Dermatology Launch Will Support ReRating

Analysts have trimmed their price target for Alkem Laboratories from ₹7,056 to ₹6,913, reflecting updated views on revenue growth, profit margin assumptions and a slightly lower future P/E multiple. What's in the News Alkem and Axsome Therapeutics reached a settlement on patent litigation over SUNOSI, with Alkem receiving a license to sell a generic version in the US starting on or after March 1, 2040 (or September 1, 2040 if pediatric exclusivity is granted), subject to regulatory approvals and customary conditions (Axsome settlement announcement).
500124
₹1,306.60
Dr. Reddy's Laboratories
7D
2.0%
1Y
16.0%

500124: Biosimilar Pipeline And New Launches Will Drive Future Upside

Analysts have nudged their fair value estimate for Dr. Reddy's Laboratories slightly higher from about ₹1,611 to roughly ₹1,615 per share, reflecting updated assumptions on revenue growth, profit margins, and the future P/E multiple in their models. What's in the News US FDA accepted review of a 351(k) Biologics License Application for DRL_AB, a proposed interchangeable biosimilar to Orencia (abatacept), for multiple rheumatoid and arthritis indications in adults and children, backed by analytical, PK, and clinical data including Phase 1 PK similarity and an ongoing Phase 3 trial (company announcement).
500420
₹4,419.80
Torrent Pharmaceuticals
7D
5.0%
1Y
45.9%

500420: Board Actions And Interim Dividend Will Shape Future Risk Balance

Analysts have revised their price target on Torrent Pharmaceuticals from ₹4,080 to ₹4,418, citing updated assumptions around revenue growth, profit margins and forward P/E as key drivers of this change. What's in the News Torrent Pharmaceuticals declared an interim dividend of ₹29 per equity share of ₹5, described as 580% of the face value, with payment or dispatch expected on or around 6 March 2026 (company announcement).
COHANCE
₹310.50
Cohance Lifesciences
7D
-4.7%
1Y
-74.3%

COHANCE: FDA Compliance Remediation Will Support Confidence In Long Term Growth

Analysts have revised their fair value estimate for Cohance Lifesciences from about ₹733 to roughly ₹513, reflecting updated assumptions around slightly higher revenue growth, a lower projected profit margin, and a reduced future P/E multiple. What's in the News The U.S. FDA issued Warning Letter No. 718812 to Cohance Lifesciences regarding CGMP violations at its drug manufacturing facility in Medchal Malkajgiri, citing concerns around investigations of quality issues, cleaning validation, and cross contamination risks (Regulatory Authority – Enforcement Actions).
EMCURE
₹1,430.80
Emcure Pharmaceuticals
7D
-2.2%
1Y
44.9%

EMCURE: Weight Management Launch Will Support Stronger Long Term Outlook

Analysts have nudged their price target on Emcure Pharmaceuticals higher from ₹1,688.50 to about ₹1,794.83, citing updated assumptions around discount rate, revenue growth, profit margin, and future P/E, which together support a slightly richer valuation framework. What's in the News Board meeting scheduled for Feb 4, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
524558
₹13,329.00
Neuland Laboratories
7D
-2.0%
1Y
14.8%

524558: New R&D Center And Peptide Partnership Will Support Future Upside Potential

Analysts have revised their price target for Neuland Laboratories from ₹20,659 to ₹18,865, reflecting updates to their model that now factors in adjusted assumptions for revenue growth, profit margins, and future P/E expectations. What's in the News LIR Life Sciences has started Project Phase 2 peptide design work with Neuland Laboratories, focusing on next generation cell penetrating peptides for its transdermal delivery platform, following completion of Phase 1 synthesis work (Product related announcement).
LAURUSLABS
₹1,076.35
Laurus Labs
7D
3.7%
1Y
95.6%

LAURUSLABS: Future Returns Will Rely On Confidence In Elevated P E Assumptions

Narrative Update: Laurus Labs Analyst Price Target Analysts have maintained their Laurus Labs price target at ₹913.47, citing largely unchanged assumptions around revenue, profit margins, discount rate, and forward P/E as the basis for keeping fair value steady. Analyst Commentary Analysts covering Laurus Labs are using a similar playbook to recent work on other education and healthcare names, where price targets are adjusted mainly on valuation inputs rather than big changes in growth assumptions.
SUNPHARMA
₹1,764.20
Sun Pharmaceutical Industries
7D
2.3%
1Y
9.3%

SUNPHARMA: Obesity And Diabetes Pipeline Will Drive Long Term Upside

Analysts have trimmed their price target on Sun Pharmaceutical Industries by around ₹2. This reflects updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E that remain broadly consistent with their earlier view.
ZOTA
₹1,214.80
Zota Health Care
7D
-11.1%
1Y
42.9%

Why We're Not Concerned About Zota Health Care Limited's (NSE:ZOTA) Share Price

Feb 10
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506879
₹315.00
Gujarat Themis Biosyn
7D
-8.5%
1Y
29.1%
WOCKPHARMA
₹1,377.10
Wockhardt
7D
-3.9%
1Y
12.0%