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Indian (NIFTY) Pharma Industry Analysis

UpdatedAug 19, 2026
DataAggregated Company Financials
Companies181
  • 7D-1.1%
  • 3M7.3%
  • 1Y15.4%
  • YTD17.6%

Over the last 7 days, the Pharma industry has dropped 1.1%, driven by declines in Sun Pharmaceutical Industries and Zydus Lifesciences of 2.3% and 8.3%, respectively. On the other hand GlaxoSmithKline Pharmaceuticals is actually up 16%. This takes the industry's 12 month performance to a gain of 15%. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 20 Aug 2026₹24.2t₹4.7t₹655.9b29.9x36.9x5.2x
Sat, 18 Jul 2026₹23.7t₹4.5t₹643.1b30.1x36.8x5.3x
Mon, 15 Jun 2026₹22.3t₹4.5t₹643.1b28.7x34.7x5x
Wed, 13 May 2026₹21.6t₹4.4t₹630.4b28.6x34.2x4.9x
Fri, 10 Apr 2026₹20.1t₹4.3t₹621.1b27.1x32.4x4.6x
Sun, 08 Mar 2026₹20.4t₹4.3t₹621.2b26.2x32.9x4.7x
Tue, 03 Feb 2026₹19.4t₹4.3t₹611.7b27.8x31.8x4.6x
Thu, 01 Jan 2026₹20.4t₹4.2t₹614.5b28.6x33.2x4.8x
Sat, 29 Nov 2025₹20.7t₹4.2t₹612.9b29.3x33.8x4.9x
Mon, 27 Oct 2025₹20.4t₹4.1t₹593.7b30.2x34.3x5x
Wed, 24 Sep 2025₹20.4t₹4.1t₹587.9b31.8x34.8x5x
Fri, 22 Aug 2025₹20.5t₹4.1t₹589.0b30.7x34.8x5x
Sun, 20 Jul 2025₹21.0t₹4.0t₹594.3b33.3x35.3x5.3x
Tue, 17 Jun 2025₹20.5t₹4.0t₹595.3b32.7x34.4x5.1x
Thu, 15 May 2025₹19.5t₹3.9t₹569.4b31x34.3x5x
Sat, 12 Apr 2025₹18.8t₹3.9t₹559.2b27.6x33.6x4.8x
Mon, 10 Mar 2025₹18.7t₹3.9t₹559.4b28.4x33.5x4.8x
Wed, 05 Feb 2025₹19.8t₹3.9t₹543.4b31.3x36.5x5.1x
Fri, 03 Jan 2025₹21.5t₹3.8t₹527.0b36.1x40.8x5.6x
Sun, 01 Dec 2024₹20.7t₹3.8t₹526.7b34.1x39.3x5.4x
Tue, 29 Oct 2024₹20.8t₹3.7t₹495.0b38.3x42.1x5.6x
Thu, 26 Sep 2024₹21.6t₹3.7t₹492.6b41.6x43.8x5.8x
Sat, 24 Aug 2024₹20.7t₹3.7t₹492.4b37.7x42.1x5.6x
Mon, 22 Jul 2024₹18.5t₹3.6t₹454.8b34.3x40.6x5.1x
Wed, 19 Jun 2024₹17.7t₹3.6t₹448.3b32.9x39.4x4.9x
Fri, 17 May 2024₹17.0t₹3.5t₹435.0b34.7x39.1x4.8x
Sun, 14 Apr 2024₹16.8t₹3.5t₹418.9b32.7x40.2x4.8x
Tue, 12 Mar 2024₹17.0t₹3.5t₹418.7b32.8x40.6x4.9x
Thu, 08 Feb 2024₹16.7t₹3.4t₹411.8b34.8x40.4x4.9x
Sat, 06 Jan 2024₹15.5t₹3.4t₹395.9b34.2x39.3x4.6x
Mon, 04 Dec 2023₹14.3t₹3.4t₹395.1b31.6x36.2x4.2x
Wed, 01 Nov 2023₹12.8t₹3.3t₹373.9b29.4x34.2x3.9x
Fri, 29 Sep 2023₹13.0t₹3.3t₹369.5b29.8x35.1x4x
Sun, 27 Aug 2023₹12.8t₹3.3t₹367.0b29.1x35x3.9x
Price to Earnings Ratio

35x


Total Market Cap: ₹12.8tTotal Earnings: ₹367.0bTotal Revenue: ₹3.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Pharma Industry Price to Earnings3Y Average 36.6x202420252026
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 36.6x.
  • The industry is trading close to its 3-year average PS ratio of 4.9x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have grown 21% 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-0.67%
Healthcare-0.95%
Pharma-1.12%
Pharma-1.12%
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
500660 GlaxoSmithKline Pharmaceuticals₹3.03k15.8%
+₹70.2b		8.9%PE48.1x
500420 Torrent Pharmaceuticals₹5.01k2.5%
+₹46.8b		36.9%PE87.4x
IPCALAB Ipca Laboratories₹1.90k7.8%
+₹34.8b		38.9%PE36.9x
RUBICON Rubicon Research₹1.80k8.8%
+₹24.0b		n/aPE120.7x
AJANTPHARM Ajanta Pharma₹3.70k4.4%
+₹19.6b		37.8%PE40.7x

Latest News

500660
₹3,034.05
GlaxoSmithKline Pharmaceuticals
7D
15.8%
1Y
8.9%
506197
₹572.70
Bliss GVS Pharma
7D
17.3%
1Y
243.9%
AUROPHARMA
₹1,624.50
Aurobindo Pharma
7D
-2.5%
1Y
55.2%
Narrative Update • Aug 18

AUROPHARMA: Fair Value Reset Weighs Licensing Drive Against Execution Risks

Analysts have raised their price target for Aurobindo Pharma to ₹1,678 from ₹1,571, citing updated assumptions that reflect slightly higher revenue growth and profit margin expectations, along with a modestly lower discount rate and a recalibrated future P/E multiple. Analyst Commentary Recent commentary around Aurobindo Pharma focuses on how the updated price target aligns with revised assumptions on growth, margins, and the valuation framework that analysts apply to the stock.
CONCORDBIO
₹1,587.50
Concord Biotech
7D
9.9%
1Y
-6.3%
Narrative Update • Aug 18

CONCORDBIO: Higher Future P/E Will Likely Restrain Returns From Current Levels

Analysts have raised their fair value estimate for Concord Biotech from ₹1,020 to ₹1,268, citing updated assumptions for revenue growth, profit margins and future P/E levels as key drivers of the higher price target. What’s in the News for Concord Biotech A board meeting is scheduled on May 29, 2026 to review audited standalone and consolidated financial results for the fourth quarter and full year ended March 31, 2026, consider a final equity dividend recommendation, review director appointments, and address other business matters.
IPCALAB
₹1,903.70
Ipca Laboratories
7D
7.8%
1Y
38.9%
500488
₹26,400.00
Abbott India
7D
-6.2%
1Y
-19.1%
500420
₹5,013.00
Torrent Pharmaceuticals
7D
2.5%
1Y
36.9%
Narrative Update • Aug 14

500420: Dividend Support And Higher Assumptions Will Drive A Stronger Outlook

Analysts have raised their price target for Torrent Pharmaceuticals from ₹5,084 to ₹5,387, citing updated assumptions for revenue growth, profit margins, and a higher future P/E multiple in their refreshed models. What’s in the News for Torrent Pharmaceuticals Torrent Pharmaceuticals has scheduled a board meeting on Jul 30, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter ended Jun 30, 2026, along with other business matters.
AJANTPHARM
₹3,697.90
Ajanta Pharma
7D
4.4%
1Y
37.8%
Narrative Update • Aug 14

AJANTPHARM: Rich Earnings Multiple And Recall Risk Will Restrain Upside

Ajanta Pharma's analyst price target has been revised to ₹3,149 from ₹2,701, with analysts citing updated fair value and P/E assumptions, as well as modest adjustments to the discount rate, revenue growth and profit margin inputs as the main factors behind this change. What's in the News for Ajanta Pharma Ajanta Pharma has scheduled a board meeting on July 30, 2026, to consider and approve unaudited consolidated and standalone financial results for the quarter ended June 30, 2026.
LAURUSLABS
₹1,801.80
Laurus Labs
7D
-2.6%
1Y
105.7%
Narrative Update • Aug 14

LAURUSLABS: Future Returns Will Depend On Resilient Margins Supporting Elevated P E Multiples

The Laurus Labs analyst price target has been updated from ₹1,044.00 to about ₹1,486.29. This change is supported by analyst assumptions that reflect higher revenue growth, stronger profit margins and a modestly higher future P/E, while keeping the discount rate broadly similar.
ZYDUSLIFE
₹1,104.50
Zydus Lifesciences
7D
-8.3%
1Y
12.3%
Narrative Update • Aug 12

ZYDUSLIFE: USFDA Approvals Will Support Future Earnings Re‑Rating

Zydus Lifesciences' analyst price target has been revised from ₹1,343.70 to ₹1,457.48, with analysts citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E as the key drivers of this change. What's in the News for Zydus Lifesciences Zydus Lifesciences received final USFDA approval for its Indocyanine Green for Injection, USP, 25 mg/vial, a competitive generic therapy equivalent to IC-Green by Diagnostic Green LLC.
524558
₹23,296.85
Neuland Laboratories
7D
3.5%
1Y
69.8%
EMCURE
₹1,891.00
Emcure Pharmaceuticals
7D
-5.9%
1Y
25.7%
Analysis Article • Aug 09

Earnings Beat: Emcure Pharmaceuticals Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

As you might know, Emcure Pharmaceuticals Limited ( NSE:EMCURE ) just kicked off its latest first-quarter results with...
RUBICON
₹1,798.80
Rubicon Research
7D
8.8%
1Y
n/a
500124
₹1,171.00
Dr. Reddy's Laboratories
7D
-2.3%
1Y
-6.0%
Narrative Update • Aug 06

500124: Fair Outlook Will Balance New Drug Launches And Compliance Developments

Analysts now place fair value for Dr. Reddy's Laboratories at about ₹1,266, compared with the prior estimate of roughly ₹1,332. The revision reflects updated assumptions for slightly higher revenue growth, a marginally lower discount rate and a more conservative future P/E multiple.
SUNPHARMA
₹1,900.00
Sun Pharmaceutical Industries
7D
-2.3%
1Y
16.3%
Analysis Article • Aug 05

Results: Sun Pharmaceutical Industries Limited Exceeded Expectations And The Consensus Has Updated Its Estimates

As you might know, Sun Pharmaceutical Industries Limited ( NSE:SUNPHARMA ) recently reported its quarterly numbers. Sun...
CIPLA
₹1,422.00
Cipla
7D
-2.8%
1Y
-8.0%