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KOPRAN - Kopran

📊 NSE: KOPRAN 🏢 Pharmaceuticals - Indian - Bulk Drugs & Formln 📅 Last Updated: 12/14/2025 9:00

📢 Recent Corporate Announcements

Kopran Receives NSE 'No Objection' for Merger with Kopran Laboratories

🟢 POSITIVE ⭐ 8/10

M&A 📅 28 Feb 2026, 12:29 PM

Kopran Limited has received a 'No Objection' observation letter from the National Stock Exchange (NSE) on February 27, 2026, regarding its proposed merger with Kopran Laboratories Limited. This follows the initial board approval from March 20, 2025, and allows the company to proceed with filing the scheme before the NCLT. The company is now required to provide detailed disclosures to shareholders, including a 3-year financial track record (Revenue, PAT, EBITDA) and the impact on promoter shareholding. The merger aims to consolidate operations, though the final scheme remains subject to NCLT and other regulatory approvals.

Received NSE 'No Objection' on February 27, 2026, for the merger of Kopran Laboratories into Kopran Limited.
The observation letter is valid for 6 months, requiring the scheme to be submitted to the NCLT by late August 2026.
Mandatory disclosure of 3-year audited financials (Revenue, PAT, EBITDA) for both entities is required for shareholder approval.
Company must prominently disclose any increase in promoter shareholding and the specific rationale for the swap ratio.
The scheme involves the transfer of all liabilities from the unlisted Transferor Company to the listed Transferee Company.

💡 Investors should review the upcoming shareholder notice for the specific swap ratio and the impact on promoter equity dilution. Monitor the NCLT approval process as the next major milestone for the consolidation.

Kopran Receives BSE 'No Adverse Observation' for Merger with Kopran Laboratories

🟢 POSITIVE ⭐ 8/10

M&A 📅 27 Feb 2026, 04:29 PM

Kopran Limited has received a 'no adverse observation' letter from BSE Limited regarding its proposed merger with Kopran Laboratories Limited. This regulatory milestone follows the initial board approval granted on March 20, 2025. The company is now authorized to proceed with filing the scheme before the National Company Law Tribunal (NCLT) within the next six months. The merger remains subject to further approvals from the NCLT, shareholders, and other regulatory bodies.

BSE issued the 'no adverse observation' letter on February 26, 2026, for the Scheme of Amalgamation.
The merger involves the absorption of Kopran Laboratories Limited (Transferor) into Kopran Limited (Transferee).
The observation letter is valid for six months, during which the company must submit the scheme to the NCLT.
SEBI has mandated detailed disclosures in the shareholder notice, including a cost-benefit analysis and changes in promoter shareholding.
The company must ensure that financial data used for the valuation report is not more than six months old at the time of filing.

💡 Investors should monitor the upcoming NCLT filing and review the detailed explanatory statement for the swap ratio and potential synergy benefits. The stock may see positive sentiment as the consolidation process moves toward the final legal stages.

Kopran Limited Reports Cyber-attack on Server Data at Khopoli Factory

🔵 WATCH ⭐ 6/10

OTHER 📅 20 Feb 2026, 04:42 PM

Kopran Limited has disclosed a cybersecurity incident involving unauthorized access to its computer server data at the Khopoli factory. The breach was identified on February 20, 2026, at approximately 3:50 p.m., prompting immediate restrictive actions by the company. Currently, Kopran is working with external cybersecurity experts to conduct a root cause analysis and assess any potential data or operational impact. While the company has taken steps to secure its systems, the full extent of the breach and its financial implications remain under investigation.

Unauthorized access to computer server data detected at the Khopoli factory on February 20, 2026
Incident officially reported to the Compliance Officer at 3:50 p.m. on the same day
Immediate measures implemented to restrict further unauthorized access to the company's servers
Cybersecurity experts engaged for a thorough impact assessment and root cause analysis

💡 Investors should monitor subsequent filings for updates on data recovery and potential operational disruptions. Maintain a cautious stance until the company confirms no sensitive intellectual property or financial data was compromised.

Kopran Q3 Revenue Rises 17% YoY to ₹194 Cr; PAT Dips 10% to ₹9.34 Cr

🔵 WATCH ⭐ 7/10

EARNINGS 📅 22 Jan 2026, 04:47 PM

Kopran Limited reported a 16.8% YoY increase in consolidated revenue from operations to ₹194.28 crore for the quarter ended December 31, 2025. Despite the revenue growth, consolidated net profit declined by 10.1% YoY to ₹9.34 crore, down from ₹10.40 crore in the same quarter last year. On a sequential basis, the company returned to profitability after reporting a net loss of ₹9.92 crore in the previous quarter (Q2 FY26). For the nine-month period, net profit remains significantly lower at ₹6.87 crore compared to ₹28.87 crore in the previous year.

Consolidated Revenue from Operations grew 16.8% YoY to ₹194.28 crore in Q3 FY26.
Consolidated Net Profit for the quarter stood at ₹9.34 crore, a 10.1% decline from ₹10.40 crore in Q3 FY25.
The company achieved a significant sequential turnaround from a net loss of ₹9.92 crore in Q2 FY26.
Nine-month (9M FY26) consolidated PAT dropped sharply to ₹6.87 crore from ₹28.87 crore in 9M FY25.
Basic EPS for the quarter was ₹1.93, compared to ₹2.16 in the corresponding quarter of the previous year.

💡 Investors should note the sequential turnaround from a loss in Q2, but remain cautious due to the significant year-on-year decline in nine-month cumulative profitability. Monitor the company's ability to sustain this recovery and manage operating costs in the upcoming quarters.

Kopran Q3 FY26 Net Profit Recovers to ₹9.34 Cr; Revenue Up 17% YoY to ₹194.28 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 22 Jan 2026, 04:20 PM

Kopran Limited reported a strong sequential recovery in Q3 FY26, with revenue reaching ₹194.28 crore, a 64.7% increase over Q2 FY26. Net profit returned to the black at ₹9.34 crore after a loss of ₹9.92 crore in the previous quarter, though it remains slightly lower than the ₹10.40 crore earned in Q3 FY25. EBITDA margins saw a significant rebound to 10.42% from a low of 2.51% in Q2. The company's revenue was well-balanced between its API (₹100.05 crore) and Formulations (₹92.31 crore) segments, with a heavy focus on exports.

Revenue from operations grew 16.8% YoY to ₹194.28 crore and 64.7% QoQ.
Net Profit stood at ₹9.34 crore, recovering from a net loss of ₹9.92 crore in Q2 FY26.
EBITDA margin improved significantly to 10.42% compared to 2.51% in the preceding quarter.
API segment revenue reached ₹100.05 crore, with exports contributing 67% of the total API sales.
Formulations segment contributed ₹92.31 crore, with Penicillin-based products accounting for 59% of the mix.

💡 Investors should monitor the sustainability of the margin recovery and the progress of the new API facility at Panoli, Gujarat. The sharp sequential turnaround suggests operational issues from the previous quarter have been addressed.

Kopran Q3 Results: Revenue Grows 17% YoY to ₹194 Cr, PAT at ₹9.3 Cr with Strong QoQ Turnaround

🔵 WATCH ⭐ 7/10

EARNINGS 📅 22 Jan 2026, 03:00 PM

Kopran Limited reported a consolidated revenue of ₹194.28 crore for Q3 FY26, a 16.8% increase compared to ₹166.24 crore in the same quarter last year. The company achieved a significant sequential turnaround, posting a PAT of ₹9.34 crore compared to a loss of ₹9.92 crore in Q2 FY26. However, on a year-on-year basis, PAT declined by approximately 10% from ₹10.40 crore. The nine-month performance remains weak, with cumulative PAT falling to ₹6.87 crore from ₹28.87 crore in the previous year, primarily due to higher expenses and forex losses earlier in the fiscal year.

Consolidated Revenue from Operations rose 16.8% YoY to ₹19,427.98 Lakhs.
Achieved a sharp QoQ turnaround with a PAT of ₹933.96 Lakhs versus a loss of ₹992.32 Lakhs in the previous quarter.
9M FY26 PAT stands at ₹686.57 Lakhs, a significant drop from ₹2,887.46 Lakhs in 9M FY25.
Foreign Exchange Loss of ₹247.22 Lakhs was recorded in the consolidated results for the quarter.
Consolidated Basic EPS for the quarter stood at ₹1.93 compared to ₹2.16 in the year-ago period.

💡 Investors should focus on the company's ability to maintain this sequential recovery in margins and revenue. While the QoQ turnaround is positive, the sharp decline in nine-month cumulative profits suggests long-term cost pressures that warrant a cautious approach.

GST Authorities Conduct Search at Kopran's Mumbai and Raigad Facilities

🔵 WATCH ⭐ 6/10

REGULATORY 📅 21 Jan 2026, 04:57 PM

Maharashtra State GST authorities initiated a search at Kopran Limited's registered office in Mumbai and its manufacturing facilities in Khopoli, Raigad on January 21, 2026. The search was conducted under Section 67 of the Maharashtra Goods and Services Tax Act, 2017. While the search is ongoing, the company has stated that normal operations remain unaffected and no specific allegations of violations have been shared by the officials yet. There is currently no quantifiable financial impact reported, but the situation warrants monitoring for potential tax liabilities or penalties.

Search initiated by Deputy Commissioner of State Tax, SGST (Maharashtra) on January 21, 2026.
Action taken under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.
Locations involved include the Mumbai registered office and Khopoli (Raigad) manufacturing works.
Company reports no impact on normal operations of factories or offices during the search process.
No specific violation details or financial implications have been communicated by authorities as of the announcement.

💡 Investors should monitor further disclosures regarding the outcome of the GST search to assess any potential tax demands or penalties. Maintain a cautious stance until the company clarifies the nature of the alleged contraventions.

Kopran Limited Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 12:29 PM

Kopran Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This document confirms that the company has complied with the necessary procedures for the dematerialization of share certificates for the quarter ended December 31, 2025. The certificate is based on information provided by Bigshare Services Pvt. Ltd., the company's Registrar and Share Transfer Agent. This is a standard regulatory filing required for all listed entities in India to ensure the integrity of the shareholding process.

Compliance certificate submitted for the quarter ended December 31, 2025
Adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 confirmed
Bigshare Services Pvt. Ltd. acted as the Registrar and Share Transfer Agent
The filing confirms the processing and cancellation of share certificates received for dematerialization

💡 No action is required from investors as this is a routine administrative filing. Focus should remain on the company's upcoming quarterly financial results for fundamental assessment.

CRISIL Reaffirms Kopran's Ratings at BBB+/A2; Placed on Watch with Developing Implications

🔵 WATCH ⭐ 6/10

ROUTINE 📅 01 Jan 2026, 04:34 PM

CRISIL has reaffirmed the credit ratings for Kopran Limited and its subsidiary, Kopran Research Laboratories Limited, covering total bank facilities of Rs. 194.06 crore. The long-term rating is maintained at CRISIL BBB+ and the short-term rating at CRISIL A2. Notably, the ratings have been placed on 'Rating Watch with Developing Implications,' suggesting potential volatility in the credit profile. This status will remain in effect until March 31, 2026, pending further developments in the company's financial or operational standing.

CRISIL reaffirmed Long-Term rating at BBB+ and Short-Term rating at A2 for the group.
Kopran Limited's total bank loan facilities rated amount to Rs. 69.31 Crore.
Subsidiary Kopran Research Laboratories Limited's facilities rated at Rs. 124.75 Crore.
All ratings placed on 'Rating Watch with Developing Implications' status.
The current ratings are valid through the period ending March 31, 2026.

💡 Investors should monitor the company for any corporate announcements or financial shifts that could resolve the 'Developing Implications' status. While the reaffirmation shows current stability, the watch status indicates potential for a rating change in the near future.

Kopran Limited Announces Trading Window Closure from January 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Dec 2025, 03:01 PM

Kopran Limited has informed the exchanges that its trading window will be closed starting January 1, 2026, in compliance with SEBI insider trading regulations. This closure is ahead of the declaration of the company's unaudited financial results for the third quarter ending December 31, 2025. The window will remain shut for all directors and designated persons until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be notified at a later date.

Trading window closure begins on January 1, 2026
Closure is related to the Q3 FY2025-26 financial results for the period ending December 31, 2025
Window to reopen 48 hours after the financial results are officially declared
Restriction applies to Directors, Designated Persons, and their immediate relatives

💡 This is a standard regulatory announcement and does not impact the company's fundamentals. Investors should monitor for the upcoming board meeting date to track the actual Q3 earnings performance.

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💰 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.