Kopran Limited (KOPRAN)
₹271.15 -1.00% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kopran's revenue was ₹154 Cr (+13.9% year on year, -34.2% on the previous quarter), and net profit ₹6.7 Cr (-10.0% year on year); the operating margin was 10.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹154 | +13.9% | -34.2% |
| Operating profit | ₹15.8 | +11.8% | -52.0% |
| Net profit | ₹6.7 | -10.0% | -64.5% |
| Operating margin | 10.3% | — | — |
KOPRAN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 41.3% of the KOPRAN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 35.8%. That is close to its usual level. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 49.8% · 39.4% · 42.6% · 43.1% · 41.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Kopran Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent Bigshare Services Pvt. Ltd. on October 6, 2026, confirms that securities received for dematerialization were processed, mutilated, and cancelled within 15 days. This is a regular quarterly regulatory filing with zero impact on the company's financial operations or earnings.
- Compliance certificate filed under Regulation 74(5) of SEBI Regulations, 2018
- Pertains to the quarter ended September 30, 2026
- Confirmation provided by RTA Bigshare Services Pvt. Ltd. dated October 6, 2026
- Securities received for dematerialization were processed and cancelled within 15 days
Kopran Limited has allotted 40,500 equity shares of face value Rs 10 each pursuant to the exercise of options under its Kopran Employee Stock Option Plan 2023. The shares were allotted at an exercise price of Rs 179 per share. Consequently, the company's paid-up equity share capital increased from Rs 48,28,56,050 (48,285,605 shares) to Rs 48,32,61,050 (48,326,105 shares). The allotment represents an equity dilution of less than 0.1%.
- Allotment of 40,500 equity shares under ESOP 2023
- Exercise price fixed at Rs 179 per share
- Total paid-up share capital increased to Rs 48,32,61,050 across 48,326,105 shares
- Pre-allotment share count was 48,285,605 equity shares
Kopran Limited has responded to an NSE surveillance inquiry dated August 31, 2026, regarding a significant increase in trading volume. The company confirmed compliance with Regulation 30 of SEBI Listing Regulations and stated that no undisclosed price-sensitive information has been withheld. The management noted that the recent surge in trading volume is purely market-driven.
- Clarification issued in response to NSE surveillance query Ref. NSE/CM/Surveillance/17444 dated August 31, 2026
- Company confirmed all material disclosures are up to date under SEBI Regulation 30
- Stated that volume increase is purely market-driven with no withheld material information
Kopran Limited concluded its 67th Annual General Meeting (AGM) on August 18, 2026, with all 5 ordinary resolutions passed by requisite majority. Shareholders approved the audited standalone and consolidated financial statements for FY26 and declared a final dividend of Rs 3.00 per equity share of face value Rs 10. Additionally, the re-appointment of Mr. Varun Somani and the appointment of Mrs. Namrata Somani as Director were approved with over 99.9% votes in favour.
- Declared final dividend of Rs 3.00 per equity share of Rs 10 each for FY26
- All 5 ordinary resolutions passed with over 99.93% votes polled in favour
- Appointed Mrs. Namrata Somani as Director and re-appointed retiring director Mr. Varun Somani
- Total of 2,19,90,294 votes polled with 39 members attending the virtual AGM on August 18, 2026
Kopran Limited reported a 13.9% YoY increase in revenue from operations to ₹153.99 Cr for Q1 FY27. EBITDA grew 11.1% to ₹15.88 Cr, though margins slightly contracted to 10.31% from 10.57% in the year-ago period. Net profit declined by 10% YoY to ₹6.70 Cr, primarily due to higher finance costs (up 29% YoY) and increased depreciation. The API segment remains the dominant contributor at ₹95.38 Cr, while Formulations contributed ₹57.09 Cr with a strong focus on Southeast Asian markets.
- Revenue from operations rose to ₹153.99 Cr in Q1 FY27 compared to ₹135.22 Cr in Q1 FY26.
- API segment revenue reached ₹95.38 Cr, with domestic sales (₹56.77 Cr) significantly higher than exports (₹38.61 Cr).
- Formulations revenue stood at ₹57.09 Cr, with Southeast Asia contributing ₹28.46 Cr (approx. 50% of segment sales).
- Net Debt-to-Equity ratio increased to 0.30x as of June 2026, up from 0.27x in FY26.
- EBITDA margin stood at 10.31%, remaining below the FY25 full-year average of 11.9%.
Kopran reported a mixed Q1 FY27 with consolidated revenue growing 13.9% YoY to ₹153.99 Cr, but declining sharply by 34.2% on a sequential (QoQ) basis. Net profit followed a similar trend, falling 10.1% YoY to ₹6.70 Cr and dropping 64.5% from the ₹18.87 Cr reported in the previous quarter (Mar 2026). Profitability was impacted by a contraction in PBT margins to 5.7% from 7.3% in the year-ago period, alongside a 29% increase in finance costs. While standalone profit grew YoY, the consolidated performance reflects significant volatility in the business cycle.
- Consolidated Revenue from Operations reached ₹153.99 Cr, up 13.9% from ₹135.22 Cr in June 2025.
- Consolidated Net Profit fell to ₹6.70 Cr, a 10.1% decline compared to ₹7.45 Cr in the same quarter last year.
- Sequential revenue witnessed a sharp 34.2% drop from ₹234.02 Cr in the March 2026 quarter.
- Finance costs rose to ₹3.28 Cr from ₹2.54 Cr YoY, representing a 29.3% increase.
- Inventory changes showed a significant build-up of ₹33.93 Cr (negative adjustment) compared to a ₹4.71 Cr build-up in June 2025.
Kopran Limited has announced August 11, 2026, as the record date to determine shareholder eligibility for a dividend. The final dividend payment is subject to approval by shareholders at the Annual General Meeting (AGM) scheduled for August 18, 2026. The company, with a market capitalization of Rs 985 Cr, reported a TTM PAT of Rs 26 Cr and maintains a low debt-to-equity ratio of 0.10. This is a routine procedural announcement following the conclusion of the financial year.
- Record date for dividend eligibility is fixed as Tuesday, August 11, 2026.
- Annual General Meeting (AGM) is scheduled for Tuesday, August 18, 2026.
- Company reported TTM Revenue of Rs 681 Cr and TTM PAT of Rs 26 Cr.
- Market capitalization stands at Rs 985 Cr with a P/E ratio of 38.3.
Kopran Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the period ending June 30, 2026. The certificate, issued by Bigshare Services Pvt. Ltd., confirms that share certificates received for dematerialization were processed within the mandated 15-day timeframe. This involves the mutilation and cancellation of physical certificates and updating the register of members with depository names. This is a routine regulatory requirement for listed companies in India.
- Compliance confirmed for the quarter ended June 30, 2026
- Dematerialization requests processed and confirmed within 15 days of receipt
- Physical security certificates mutilated and cancelled after due verification
- Registrar and Share Transfer Agent Bigshare Services Pvt. Ltd. issued the underlying certificate on July 07, 2026
Kopran Limited has announced the appointment of Mr. Vijay L Thange as Chief Technical Officer (CTO) effective June 26, 2026. Mr. Thange is a seasoned professional with over 36 years of experience in the pharmaceutical industry, having worked with reputable firms like Cipla and RPG Life Sciences. Most recently, he served as Vice President of Plant Operations at USV Limited, bringing significant technical and operational expertise to Kopran. This appointment is expected to bolster the company's manufacturing capabilities and technical oversight.
- Mr. Vijay L Thange appointed as Chief Technical Officer effective June 26, 2026.
- Brings over 36 years of extensive experience in the pharmaceutical sector.
- Previously served as Vice President of Plant Operations at USV Limited.
- Educational qualifications include BSc, LLB, PGD (Operation), and an MBA in Operations Management.
Kopran Limited has announced the closure of its trading window for all designated persons and their relatives starting July 01, 2026. This is a mandatory regulatory requirement under SEBI Insider Trading regulations ahead of the announcement of financial results. The closure pertains to the unaudited financial results for the first quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared to the exchanges.
- Trading window closure begins on July 01, 2026
- Closure is in anticipation of Q1 FY2026-27 unaudited financial results
- Window to reopen 48 hours after the results are announced
- Applies to Directors, Designated Persons, and their immediate relatives
Kopran Limited shareholders and creditors have overwhelmingly approved the Scheme of Amalgamation with Kopran Laboratories Limited (KLL) in an NCLT-convened meeting held on June 3, 2026. The resolution received 99.95% of total votes in favor, with 100% support from both promoters and institutional investors. This merger aims to consolidate operations and simplify the corporate structure, and it has now cleared a major hurdle toward final implementation. The company will now proceed with the final stages of NCLT approval to conclude the transaction.
- Shareholders approved the merger of Kopran Laboratories Limited (Transferor) into Kopran Limited (Transferee) with a 99.95% majority.
- Promoter and Promoter Group cast 21,449,203 votes, representing 100% support for the resolution.
- Public Institutional investors also voted 100% in favor, while Public Non-Institutional support stood at 98.98%.
- The meeting was convened following an NCLT Mumbai Bench order dated April 09, 2026, and conducted via Video Conferencing.
- The resolution was passed as a Special Resolution, fulfilling the requisite majority requirements for the scheme.
Kopran Limited reported a robust Q4 FY26 with revenue of ₹234.02 crore and its highest-ever quarterly EBITDA of ₹40.57 crore. Despite a 7.5% growth in annual revenue to ₹681.42 crore, full-year net profit declined to ₹25.73 crore from ₹38.55 crore in FY25 due to increased depreciation and finance costs. The API vertical remains the primary driver, contributing 55% of total revenue. A significant corporate action is pending with the NCLT-directed meeting for the merger of Kopran Laboratories scheduled for June 2026.
- Q4 FY26 Revenue rose 35.8% YoY to ₹23,402 Lakhs with EBITDA margins expanding to 17.34% from 8.12%.
- Full-year FY26 revenue stood at ₹68,142 Lakhs, marking a steady growth from ₹63,359 Lakhs in FY25.
- API segment revenue for FY26 was ₹37,335 Lakhs, while Formulations contributed ₹29,639 Lakhs.
- Net Profit for FY26 decreased to ₹2,573 Lakhs compared to ₹3,855 Lakhs in the previous fiscal year.
- NCLT meeting for the merger with Kopran Laboratories Limited is scheduled for June 3, 2026.
Kopran Limited reported a robust performance for Q4 FY26, with consolidated revenue growing 35.8% YoY to ₹234.02 crore. Net profit for the quarter surged nearly 95% to ₹18.87 crore compared to ₹9.68 crore in the same period last year. Despite the strong quarterly finish, full-year FY26 consolidated profit declined to ₹25.73 crore from ₹38.55 crore in FY25. The board has recommended a dividend of ₹3 per share (30%) and provided an update on the pending merger with Kopran Laboratories, scheduled for a shareholder vote in June 2026.
- Consolidated Q4 Revenue increased 35.8% YoY to ₹234.02 crore from ₹172.36 crore.
- Quarterly Net Profit rose 94.9% YoY to ₹18.87 crore.
- Recommended a final dividend of ₹3.00 per equity share for FY25-26.
- Full-year FY26 consolidated revenue reached ₹681.42 crore, up from ₹629.60 crore in FY25.
- NCLT-directed meeting for the merger with Kopran Laboratories is set for June 3, 2026.
Kopran Limited's subsidiary, Kopran Research Laboratories Limited (KRLL), has approved a rights issue to raise ₹18.75 crores to meet its working capital requirements. The rights issue is structured at a ratio of 1 share for every 12 held, priced at ₹100 per share (including a ₹90 premium). Additionally, the company has appointed Mr. Chandresh Gandhi, a veteran Chartered Accountant with over 30 years of experience, as an Independent Director for a five-year term. This move aims to strengthen both the subsidiary's balance sheet and its corporate governance.
- Subsidiary KRLL to raise ₹18.75 crores through a Rights Issue for working capital needs
- Rights Issue ratio set at 1 share for every 12 shares held at a price of ₹100 per share
- Appointment of Mr. Chandresh Gandhi as Independent Director for a 5-year term starting May 18, 2026
- Mr. Gandhi brings 30+ years of expertise in auditing, international taxation, and FEMA compliance
- The fundraise is intended to improve the operational liquidity of the research-focused subsidiary
Kopran Limited's subsidiary, Kopran Research Laboratories Limited (KRLL), has approved a rights issue to raise ₹18.75 crores to meet its working capital requirements. The issue is priced at ₹100 per share (₹10 face value plus ₹90 premium) with an entitlement ratio of 1 share for every 12 held. Alongside the fundraise, the company has appointed Mr. Chandresh Gandhi, a veteran Chartered Accountant with 30 years of experience, as an Independent Director for a five-year term. These steps are aimed at strengthening both the liquidity and the governance framework of the subsidiary.
- Subsidiary KRLL to raise ₹18.75 crores through a rights issue for working capital
- Rights issue ratio set at 1 share for every 12 shares held at a price of ₹100 per share
- Appointment of Mr. Chandresh Gandhi as Independent Director for a 5-year term starting May 18, 2026
- Mr. Gandhi brings over 30 years of expertise in auditing, international taxation, and FEMA compliance
Financial Performance
Revenue Growth by Segment
Revenue for HY FY26 was INR 253.13 Cr. The API segment contributes approximately 50-55% of total revenue, while the Formulations segment accounts for the remaining 45-50%. FY25 total operating income was INR 629.60 Cr, representing a marginal growth of 2.39% compared to INR 614.9 Cr in FY24.
Geographic Revenue Split
The company has a significant export presence, catering to regions including Africa, Canada, the Middle East, the United Kingdom, and Southeast Asia. Specific percentage splits per region are not disclosed, but export operations are a primary driver of revenue and forex risk.
Profitability Margins
Operating profitability has been volatile, ranging between 9.57% and 13.31% over the three fiscal years ending FY25. FY25 PAT margin was 6.12% (INR 38.55 Cr), down from 8.29% (INR 50.9 Cr) in FY24, a decline of 24.3% YoY due to raw material price volatility.
EBITDA Margin
EBITDA margin for HY FY26 stood at 6.75% (INR 17.09 Cr). Quarterly performance showed extreme volatility, with Q2 FY26 margin at 2.51% compared to 10.45% in Q1 FY26 and 9.72% in Q2 FY25, primarily impacted by a forex loss of INR 8.24 Cr in Q2 FY26.
Capital Expenditure
The company maintains a comfortable financial risk profile in the absence of any major debt-funded capex plans over the medium term. Specific historical capex figures in INR Cr are not disclosed in the provided documents.
Credit Rating & Borrowing
CRISIL has placed the company's ratings on 'Rating Watch with Developing Implications' following the proposed amalgamation of Kopran Laboratories Limited. Interest coverage was healthy at 8.09 times for FY25, with gearing remaining below 0.30 times for the past five fiscal years.
Operational Drivers
Raw Materials
Key Starting Materials (KSMs) are the primary raw materials. The API segment (50-55% of revenue) is highly susceptible to price volatility in these materials, which directly impacts the group's operating margins.
Import Sources
Not specifically disclosed, though the company mentions aligning with global standards and monitoring international economic conditions for procurement.
Key Suppliers
Not specifically named; however, the company's strategy involves securing two to four suppliers for each Key Starting Material (KSM) to mitigate procurement risks.
Capacity Expansion
Manufacturing facilities are located in Mahad and Khopoli, Maharashtra. Current installed capacity in MT or units and specific expansion timelines are not disclosed in the available documents.
Raw Material Costs
Raw material price volatility led to a moderation in operating profitability to 11.94% in FY25. The company is enhancing its sourcing strategy by developing its own KSMs to reduce cost sensitivity.
Manufacturing Efficiency
Not specifically disclosed, though the company emphasizes investing in advanced technologies and R&D to maintain competitiveness.
Logistics & Distribution
The company employs a dedicated logistics team to proactively manage the supply chain and ensure timely actions to avoid disruptions in global distribution.
Strategic Growth
Growth Strategy
Growth is targeted through the proposed amalgamation of Kopran Laboratories Limited (KLL) into Kopran Limited to consolidate operations. Other strategies include R&D investment in advanced technologies, expansion in therapeutic segments like anti-diabetic and anti-hypertensive, and strengthening global market presence.
Products & Services
The company manufactures and supplies international quality formulations and APIs, including antibiotics, anti-malarials, analgesics, anti-diabetics, anti-infectives, and anti-hypertensives.
Brand Portfolio
Kopran is the primary corporate brand; specific consumer brand names for individual medicines are not listed in the documents.
New Products/Services
The company focuses on diverse therapeutic segments including anti-diabetic, anti-infective, and anti-hypertensive drugs. Specific revenue contribution percentages for new launches are not disclosed.
Market Expansion
Target regions for expansion include Africa, Canada, the Middle East, the United Kingdom, and Southeast Asia, leveraging the promoter's 40+ years of experience.
Strategic Alliances
The company collaborates with global partners to stay updated on technological advancements and innovation in the pharmaceutical sector.
External Factors
Industry Trends
The industry is characterized by a need for continual innovation and adherence to evolving global regulatory standards. Kopran is positioning itself by diversifying its therapeutic offerings and strengthening its API sourcing.
Competitive Landscape
The company operates in a highly competitive landscape which impacts pricing strategies and overall profitability, especially in the API segment.
Competitive Moat
The company's moat is built on the promoter's 40-year experience, established relationships with stakeholders, and an integrated business model (API + Formulations). Sustainability depends on successful R&D and regulatory compliance.
Macro Economic Sensitivity
The company is sensitive to global economic conditions, inflation, and exchange rate fluctuations, particularly given its heavy reliance on exports.
Geopolitical Risks
Export operations to diverse geographies like the Middle East and Africa expose the company to regional geopolitical shifts and trade policy changes.
Regulatory & Governance
Industry Regulations
Operations are subject to stringent government policies and regulatory frameworks. Non-compliance poses a significant reputational and operational risk.
Environmental Compliance
The company strictly adheres to environmental regulations and regularly files Compliance Reports to safeguard its reputation and maintain profitability.
Taxation Policy Impact
Tax expenses for HY FY26 were INR 0.74 Cr. The company adheres to Indian Accounting Standards (Ind AS) and relevant tax laws.
Legal Contingencies
The proposed amalgamation of Kopran Laboratories Limited is pending approvals from the BSE, NSE, and the National Company Law Tribunal (NCLT). No other specific pending court case values were disclosed.
Risk Analysis
Key Uncertainties
Key risks include forex volatility (impacted Q2 FY26 by INR 8.24 Cr), volatile raw material prices for APIs, and the successful completion of the KLL amalgamation.
Geographic Concentration Risk
While specific percentages are missing, the company has high geographic diversification across Africa, Canada, UK, and SE Asia, reducing dependency on any single domestic market.
Third Party Dependencies
The company is reducing dependency on single vendors by securing 2-4 suppliers for each Key Starting Material (KSM).
Technology Obsolescence Risk
Innovation risk is high in pharma; failure to innovate could impact market share. The company mitigates this through consistent R&D investment.
Credit & Counterparty Risk
Receivables quality is not explicitly detailed, but the group maintains a healthy current ratio of 2.08 and moderate bank limit utilization of 53%.
