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Indian (NIFTY) Pharma Industry Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies181
  • 7D2.5%
  • 3M7.3%
  • 1Y3.0%
  • YTD2.8%

Over the last 7 days, the Pharma industry has risen 2.5%, driven by gains from Sun Pharmaceutical Industries of 4.9%. In the last 12 months, the industry was up 3.0%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Apr 2026₹21.0t₹4.3t₹621.0b29.3x33.8x4.8x
Fri, 27 Mar 2026₹20.3t₹4.3t₹621.2b25.8x32.6x4.7x
Sun, 22 Feb 2026₹20.0t₹4.3t₹620.8b26.5x32.3x4.6x
Tue, 20 Jan 2026₹19.9t₹4.2t₹613.3b27.9x32.4x4.7x
Thu, 18 Dec 2025₹20.4t₹4.2t₹614.4b28.6x33.2x4.8x
Sat, 15 Nov 2025₹20.5t₹4.2t₹611.2b29.3x33.6x4.9x
Mon, 13 Oct 2025₹20.3t₹4.1t₹588.2b30.2x34.5x5x
Wed, 10 Sep 2025₹20.4t₹4.1t₹589.2b30.6x34.7x5x
Fri, 08 Aug 2025₹20.0t₹4.0t₹592.2b31.7x33.8x4.9x
Sun, 06 Jul 2025₹20.6t₹4.0t₹595.4b33.8x34.6x5.2x
Tue, 03 Jun 2025₹19.9t₹4.0t₹595.3b33.4x33.4x5x
Thu, 01 May 2025₹19.7t₹3.9t₹561.9b28.8x35.1x5.1x
Sat, 29 Mar 2025₹19.4t₹3.9t₹559.4b29.7x34.7x5x
Mon, 24 Feb 2025₹18.6t₹3.9t₹561.5b27.9x33.1x4.8x
Wed, 22 Jan 2025₹20.0t₹3.8t₹527.4b33.1x38x5.3x
Fri, 20 Dec 2024₹21.0t₹3.8t₹526.7b34.7x39.9x5.5x
Sun, 17 Nov 2024₹20.2t₹3.8t₹525.4b32.7x38.4x5.3x
Tue, 15 Oct 2024₹21.7t₹3.7t₹492.6b42.6x44x5.8x
Thu, 12 Sep 2024₹21.5t₹3.7t₹492.6b42.9x43.6x5.8x
Sat, 10 Aug 2024₹20.4t₹3.7t₹475.9b38x42.8x5.5x
Mon, 08 Jul 2024₹18.2t₹3.6t₹448.3b34.6x40.6x5.1x
Wed, 05 Jun 2024₹16.5t₹3.6t₹451.4b31.3x36.5x4.6x
Fri, 03 May 2024₹17.1t₹3.5t₹419.0b34.1x40.8x4.9x
Sun, 31 Mar 2024₹17.0t₹3.5t₹418.9b32.1x40.6x4.9x
Tue, 27 Feb 2024₹17.0t₹3.5t₹418.7b34.4x40.6x4.9x
Thu, 25 Jan 2024₹15.9t₹3.4t₹398.0b34.5x40.1x4.7x
Sat, 23 Dec 2023₹14.6t₹3.4t₹395.2b32.2x37x4.3x
Mon, 20 Nov 2023₹13.9t₹3.4t₹395.1b31.4x35.3x4.1x
Wed, 18 Oct 2023₹13.2t₹3.3t₹369.9b30x35.6x4x
Fri, 15 Sep 2023₹13.3t₹3.3t₹369.5b30.4x35.9x4.1x
Sun, 13 Aug 2023₹13.1t₹3.3t₹367.0b29.4x35.6x4x
Tue, 11 Jul 2023₹11.7t₹3.2t₹342.4b25.7x34.2x3.7x
Thu, 08 Jun 2023₹11.0t₹3.2t₹342.6b25.8x32.2x3.5x
Sat, 06 May 2023₹10.0t₹3.0t₹277.3b26.5x36x3.3x
Price to Earnings Ratio

36x


Total Market Cap: ₹10.0tTotal Earnings: ₹277.3bTotal Revenue: ₹3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Pharma Industry Price to Earnings3Y Average 36.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Pharmaceuticals industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 36.5x.
  • The industry is trading close to its 3-year average PS ratio of 4.8x.
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 Market0.47%
Healthcare2.70%
Pharma2.54%
Pharma2.54%
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₹1.75k4.9%
+₹197.0b		-3.2%PE38.4x
500124 Dr. Reddy's Laboratories₹1.35k11.0%
+₹111.6b		15.2%PE19.9x
CIPLA Cipla₹1.31k6.0%
+₹59.8b		-15.2%PE23.2x
COHANCE Cohance Lifesciences₹493.3036.6%
+₹50.5b		-56.6%PE311.2x
GLENMARK Glenmark Pharmaceuticals₹2.40k7.6%
+₹48.1b		73.6%PE63.7x

Latest News

SUNPHARMA
₹1,747.30
Sun Pharmaceutical Industries
7D
4.9%
1Y
-3.2%
COHANCE
₹493.30
Cohance Lifesciences
7D
36.6%
1Y
-56.6%
ZYDUSLIFE
₹911.30
Zydus Lifesciences
7D
-1.9%
1Y
2.6%

ZYDUSLIFE: Diabetes And Renal Pipeline Expansions Will Shape A Measured Outlook

Analysts have slightly reduced their fair value estimate for Zydus Lifesciences, lowering the price target from about ₹993.73 to ₹985.41, as updated assumptions around revenue growth, profit margin and future P/E are incorporated into their refreshed model. What's in the News Zydus received final USFDA approval for Dapagliflozin tablets, 5 mg and 10 mg, a type 2 diabetes treatment with US annual sales of about US$10.49b, and later became eligible for 180 days of shared generic exclusivity upon full approval, with manufacturing based at its SEZ, Ahmedabad facility (Key Developments).
CIPLA
₹1,306.50
Cipla
7D
6.0%
1Y
-15.2%

CIPLA: New CEO, US Respiratory Launch And Biologics Venture Will Steady Outlook

Analysts now place Cipla's fair value at ₹1,429.83, a small move from ₹1,427.58. This reflects refreshed assumptions around revenue growth, profit margin and future P/E expectations.
500257
₹2,302.10
Lupin
7D
-0.4%
1Y
11.4%

500257: US Approvals And New Partnerships Will Support Balanced Outlook

Analysts have inched up their fair value estimate for Lupin to about ₹2,426.53 from roughly ₹2,426.35, reflecting small tweaks to revenue growth and P/E assumptions, partly offset by slightly softer profit margin expectations. What's in the News Lupin has scheduled a board meeting on May 7, 2026 to consider audited standalone and consolidated results for the quarter and year ended March 31, 2026, and to recommend a dividend, if any (company filing).
PPLPHARMA
₹164.47
Piramal Pharma
7D
9.1%
1Y
-22.4%

PPLPHARMA: Future Upside Will Stem From ADC Milestones And Portfolio Expansion

Analysts have kept their Piramal Pharma fair value estimate unchanged at ₹200.10. This reflects broadly steady assumptions on growth, margins and future P/E that together keep the price target in line with prior views.
AJANTPHARM
₹2,756.00
Ajanta Pharma
7D
-1.3%
1Y
-0.4%

AJANTPHARM: Overseas Expansion Will Support Future Returns As Valuation Stays Appealing

Ajanta Pharma's analyst price target is maintained at ₹3,742. Analysts point to slightly higher modeled revenue growth and profit margins, along with a marginally lower future P/E assumption, as key drivers within their valuation framework.
AUROPHARMA
₹1,422.60
Aurobindo Pharma
7D
2.2%
1Y
17.6%

AUROPHARMA: Margin Assumptions Buyback And USFDA Approvals Will Shape A Measured Outlook

Narrative update on Aurobindo Pharma The analyst fair value estimate for Aurobindo Pharma has moved slightly higher to about ₹1,380 from roughly ₹1,366, with analysts citing small adjustments to revenue expectations, a modestly higher profit margin assumption near 23.3%, and a slightly lower future P/E input as the key drivers of this change. Analyst Commentary Recent Street research on other global equities highlights how analysts are adjusting models, price targets, and ratings in response to changes in growth assumptions, cash flow, and perceived execution risks.
ALKEM
₹5,418.50
Alkem Laboratories
7D
-4.9%
1Y
7.7%

ALKEM: New Metabolic Portfolio And Compliance Wins Will Shape Balanced Outlook

Analysts have nudged their price target for Alkem Laboratories slightly higher to around ₹5,930 from about ₹5,911, reflecting fine tuning of revenue growth, profit margin and future P/E assumptions. What's in the News Launch of A to Z Daily, an everyday multivitamin supplement for adults with 26 vitamins, minerals and botanicals, positioned for long term preventive wellness and approved by the Food Safety Standards Authority of India (Key Developments).
524558
₹14,444.55
Neuland Laboratories
7D
-3.3%
1Y
17.7%

524558: Leadership Transition And Peptide Collaboration Will Support Future Upside Potential

Analysts have kept their fair value estimate for Neuland Laboratories steady at ₹18,865.25, reflecting unchanged views on discount rate, revenue growth, profit margin, and future P/E assumptions that underpin their price target rationale. What's in the News Neuland Laboratories plans a leadership transition, with Saharsh Davuluri set to become Chief Executive Officer from 01 April 2026.
MANKIND
₹2,264.40
Mankind Pharma
7D
2.9%
1Y
-11.4%

MANKIND: Subsidiary Closure Decision Will Support Future Re Rating Potential

Analysts have made a slight trim to the price target for Mankind Pharma, with fair value moving from ₹3,100.00 to about ₹3,085.68 as they refresh assumptions around revenue growth, profit margins, and future P/E levels. What's in the News The board plans to meet on Apr 13, 2026, at 15:00 Indian Standard Time to review and approve the closure of Mankind Pharma Lanka Private Limited, the wholly owned subsidiary in Sri Lanka, following changes in local regulatory requirements (Key Developments).
500124
₹1,354.75
Dr. Reddy's Laboratories
7D
11.0%
1Y
15.2%

500124: Future Tax And Regulatory Compliance Issues Will Limit Upside Potential

Analysts have revised their price target for Dr. Reddy's Laboratories to ₹1,024, reflecting updated assumptions of higher revenue growth of 5.96%, a profit margin of 16.95% and a lower future P/E of 17.43x. What's in the News Launch of Obeda, an injectable semaglutide for type 2 diabetes in India, following Drugs Controller General of India approval for generic semaglutide.
LAURUSLABS
₹1,090.45
Laurus Labs
7D
-2.1%
1Y
76.6%

LAURUSLABS: Stronger Fundamentals And Upcoming Board Decisions Will Support Upside

Analysts have slightly reduced the Laurus Labs fair value estimate to ₹1,270 from ₹1,280 after updating assumptions on revenue growth, margins, and future P/E, while keeping the overall risk profile unchanged. Analyst Commentary Recent Street research on a different company, Laureate Education, still gives you a sense of how bullish analysts may think when they see improving fundamentals, supportive macro factors, or cleaner execution.
GLENMARK
₹2,403.70
Glenmark Pharmaceuticals
7D
7.6%
1Y
73.6%

GLENMARK: Future US Respiratory Approvals Will Not Offset Earnings Risk

Analysts have adjusted their fair value estimate for Glenmark Pharmaceuticals slightly lower from ₹1,555.42 to ₹1,531.86, citing updated assumptions around revenue growth, profit margins, and future P/E valuation. What's in the News Received final U.S. FDA approval for Progesterone Vaginal Inserts, 100 mg, deemed bioequivalent and therapeutically equivalent to Endometrin Vaginal Inserts, 100 mg, with the reference market showing approximately US$59.2m in annual sales for the 12 months ending February 2026 (IQVIA via company announcement).
ERIS
₹1,327.60
Eris Lifesciences
7D
-3.5%
1Y
-9.4%

ERIS: Diabetes Launch Partnership Will Support Future Upside

Analysts have trimmed their price target on Eris Lifesciences slightly, from ₹1,743.60 to ₹1,732.10. This reflects small adjustments to long term revenue growth, profit margin assumptions and future P/E expectations that have fed into an updated valuation view.
ALIVUS
₹1,007.65
Alivus Life Sciences
7D
-6.1%
1Y
-7.6%