Unichem Laboratories Limited (UNICHEMLAB)
₹510.55 -2.04% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Unichem Laboratories' revenue was ₹633 Cr (+20.1% year on year, +10.0% on the previous quarter), and net profit ₹41.5 Cr (against a loss a year earlier); the operating margin was 11.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹633 | +20.1% | +10.0% |
| Operating profit | ₹69.9 | +211.0% | +45.7% |
| Net profit | ₹41.5 | from loss | +277.0% |
| EPS (₹) | 5.89 | from loss | +280.0% |
| Operating margin | 11.1% | — | — |
UNICHEMLAB delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 48.21% of the UNICHEMLAB shares traded on NSE were taken to delivery, against the stock's own 20-session average of 35.84%. The price fell 2.04% on that unusually high delivery, the pattern the delivery dashboard labels distribution. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 49.3% · 37.8% · 40.2% · 42.7% · 48.2%
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
Unichem Laboratories Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar & Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026. It confirms that securities received for dematerialisation during the period were verified, accepted or rejected, and that mutilated certificates were handled within prescribed timelines. This is a standard quarterly administrative filing with no financial or operational impact.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Pertains to the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited dated October 03, 2026
- Filing submitted to BSE and NSE on October 13, 2026
The USFDA conducted an inspection of Unichem Laboratories' Goa formulation facility at Pilerne, Bardez, from September 21, 2026, to September 26, 2026. The inspection concluded with five observations, which the company stated are related to procedural enhancements. Unichem will submit its response to the regulator within the standard 15-day window. With the US market contributing around 64% of company revenue, the final classification of these observations remains critical.
- USFDA inspection conducted from September 21 to September 26, 2026
- Inspection concluded with 5 observations related to procedural enhancements
- Company to submit its formal response to the USFDA within 15 days
- Goa Formulation facility is a key export site (US market accounts for 64% of overall revenue)
Unichem Laboratories received an Order-In-Appeal from the Commissioner (Appeals Thane) upholding a GST penalty of ₹87.07 crore and interest liability of ₹6.59 crore (total demand of ~₹93.66 crore) relating to the cross charge of common services. The total disputed amount represents approximately 30.7% of the company's TTM net profit of ₹305 crore and 4.1% of TTM revenue. Unichem stated that it plans to file an appeal against the order within prescribed timelines and expects no material impact.
- Received Order-In-Appeal on 18th September 2026 disallowing appeal for cross charge of common services
- Penalty confirmed under Section 74(1) and 122(2)(b) of the CGST Act at Rs. 87,07,09,556
- Interest liability demanded under Section 13 and Rule 47 at Rs. 6,58,76,590
- Total exposure of Rs. 93.66 crore compared against TTM PAT of Rs. 305 crore (~30.7%)
- Company intends to file an appeal before higher appellate forums based on legal advice
Unichem Laboratories has extended the exercise period for vested options under its Employee Stock Option Scheme 2018. The Nomination and Remuneration Committee approved extending the deadline from September 30, 2026, to March 31, 2027. This covers 250,000 options from the 1st Tranche (vested July 1, 2024) and 125,000 options from the 2nd Tranche (vested May 1, 2025). All other terms of the ESOP scheme remain unchanged.
- Nomination and Remuneration Committee approved extension via circular resolution on September 11, 2026
- Exercise deadline extended from September 30, 2026, to March 31, 2027
- Covers 250,000 options (50% of granted) under the 1st Tranche vested on July 1, 2024
- Covers 125,000 options (25% of granted) under the 2nd Tranche vested on May 1, 2025
Unichem Laboratories Limited responded on August 26, 2026, to an inquiry from the National Stock Exchange regarding a recent spurt in trading volume. The company stated that the volume increase is purely market driven and confirmed that it has no undisclosed price-sensitive information. The management reaffirmed ongoing compliance with Regulation 30 disclosure obligations under SEBI Listing Regulations.
- NSE query received on 25th August 2026 regarding trading volume spurt
- Company submitted clarification on 26th August 2026
- Stated that spurt in security volume is purely market driven
- Affirmed full compliance with Regulation 30 of SEBI LODR Regulations, 2015
Unichem Laboratories held its 63rd Annual General Meeting on August 11, 2026, where shareholders approved all five proposed resolutions with a requisite majority. The key outcome is the re-appointment of Mr. Pabitrakumar Bhattacharyya as Managing Director and CEO for a three-year term effective August 10, 2026. Additionally, shareholders adopted the FY26 audited financial statements and ratified the cost auditor's remuneration of 6 lakh for FY27. The promoter group, which holds 70.22% of the company, voted 100% in favor of all resolutions.
- Re-appointment of Pabitrakumar Bhattacharyya as MD and CEO for a 3-year term starting August 10, 2026.
- Total of 5,71,79,092 votes polled for the MD/CEO re-appointment, representing 81.21% of total outstanding shares.
- Ratification of remuneration for Cost Auditors, Kishore Bhatia & Associates, at 6,00,000 for FY2027.
- Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
- Promoter group (4,94,40,586 shares) voted with 100% consensus in favor of all agenda items.
Unichem Laboratories held its 63rd Annual General Meeting on August 11, 2026, to transact business for the financial year ended March 31, 2026. Key resolutions included the adoption of audited financial statements and the re-appointment of Mr. Pabitrakumar Bhattacharyya as Managing Director and CEO. The company reported a TTM revenue of ₹2,202 Cr and a PAT of ₹253 Cr. The meeting was conducted via video conference with no auditor qualifications reported.
- 63rd Annual General Meeting held on August 11, 2026, via video conference.
- Special Resolution proposed for the re-appointment of Mr. Pabitrakumar Bhattacharyya as MD and CEO.
- Audited standalone and consolidated financial statements for FY26 were adopted by shareholders.
- Ratification of remuneration for Cost Auditors, Kishore Bhatia & Associates, for FY2027.
- Statutory and Secretarial Auditors reported no qualifications in their respective reports.
Unichem Laboratories reported a strong turnaround in Q1 FY27, posting a consolidated net profit of ₹41.47 Cr compared to a net loss of ₹10.47 Cr in the same quarter last year. Revenue from operations grew 20.1% YoY to ₹632.62 Cr, representing approximately 28.7% of its TTM revenue. The improvement was driven by better cost management, with material costs falling to ₹190.02 Cr from ₹217.48 Cr YoY despite higher sales. The company continues to benefit from tax set-offs, resulting in a negligible current tax charge for the period.
- Revenue from operations increased 20.1% YoY to ₹632.62 Cr from ₹526.60 Cr.
- Net profit turned positive at ₹41.47 Cr against a loss of ₹10.47 Cr in the year-ago period.
- Basic EPS improved significantly to ₹5.89 from a negative ₹1.49 YoY.
- Cost of materials consumed as a percentage of revenue dropped to 30% from 41.3% YoY.
- Invested USD 80,000 (approx. ₹0.76 Cr) in its wholly-owned subsidiary, Unichem (China) Pvt Ltd.
Unichem Laboratories has received an order from the Additional Commissioner, CGST (Appeals), Dehradun, regarding a dispute over GSTR TRAN 1 credits. The appeal was filed against an original disallowance of Rs 73.03 lakh. The appellate authority has partially allowed the credit, resulting in a reduced demand of Rs 10.59 lakh plus interest. Given the company's TTM revenue of Rs 2,202 crore, this amount is financially immaterial, and the company plans to further appeal the order.
- Original disallowed TRAN 1 credit amount was Rs 73,02,757
- Appellate authority reduced the demand to Rs 10,59,354 plus interest
- Order received on July 28, 2026, following an earlier intimation from January 2025
- The demand represents less than 0.01% of the company's TTM revenue of Rs 2,202 crore
Ipca Laboratories Limited, the promoter of Unichem Laboratories, has filed a formal declaration under Regulation 31(4) of the SEBI (SAST) Regulations. The filing confirms that the promoter group has not created any direct or indirect encumbrance (pledge) on their equity shares during the financial year ended March 31, 2026. This is a routine annual compliance disclosure that reinforces the transparency of the promoter's 70.22% stake in the company.
- Promoter Ipca Laboratories confirms zero encumbrance on shares for the full year ended March 31, 2026
- Promoter holding remains stable at 70.22% as per the latest March 2026 shareholding data
- The declaration was submitted on April 2, 2026, in compliance with annual SEBI Takeover Regulations
- Company maintains a low debt-to-equity ratio of 0.02 with a net worth of Rs 2627 Cr
Unichem Laboratories has responded to a clarification request from the National Stock Exchange (NSE) regarding recent significant price movements in its securities. The company stated that it has consistently complied with SEBI Regulation 30 disclosure requirements by making timely disclosures of all material events. Management clarified that the price increase appears to be purely market-driven and that there is no undisclosed material information or event. This is a standard procedural response to exchange surveillance queries and does not indicate a fundamental change in the company's operations.
- NSE issued a clarification letter Ref. No.: NSE/CM/Surveillance/17249 on 10th July 2026.
- Company confirms compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
- Management states the price movement is purely market driven with no undisclosed material events.
- Response submitted to the exchange on 10th July 2026.
Unichem Laboratories has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed, mutilated, and cancelled as per regulatory timelines. The Registrar and Share Transfer Agent, MUFG Intime India Private Limited, verified that the names of depositories were substituted in the register of members. This is a standard procedural filing with no impact on the company's financial or operational standing.
- Compliance confirmed for the quarter ended June 30, 2026
- Certificate issued by MUFG Intime India Private Limited on July 1, 2026
- Confirms dematerialization requests were processed within prescribed timelines
- Physical certificates were mutilated and cancelled after due verification
Unichem Laboratories has scheduled its 63rd Annual General Meeting (AGM) for August 11, 2026, at 3:30 PM IST via video conferencing. The company has issued notices to shareholders who have not registered their email addresses, providing them with web links to access the FY 2025-26 Annual Report. The cut-off date for identifying these shareholders was June 26, 2026. This filing is a procedural requirement under SEBI Listing Regulations and does not contain new financial performance data beyond what is in the Annual Report.
- 63rd Annual General Meeting scheduled for August 11, 2026, at 3:30 PM IST
- Cut-off date for identifying shareholders for physical intimation was June 26, 2026
- Annual Report for Financial Year 2025-26 made available via dedicated web-link and QR code
- Compliance with SEBI Regulation 36(1)(b) regarding communication with non-registered email holders
Unichem Laboratories has issued a notice for its 63rd Annual General Meeting (AGM) to be held on August 11, 2026. The key agenda item is the re-appointment of Mr. Pabitrakumar Bhattacharyya as Managing Director and CEO for a further three-year term effective August 10, 2026. Additionally, the company seeks shareholder approval for the FY2026 financial statements and ratification of ₹6 lakh in cost auditor remuneration. This comes as the company maintains a strong promoter holding of 70.2% and focuses on US market expansion.
- 63rd Annual General Meeting scheduled for August 11, 2026, via video conferencing.
- Proposed re-appointment of Mr. Pabitrakumar Bhattacharyya as MD & CEO for a 3-year term.
- Record date for e-voting eligibility is set for August 4, 2026.
- Proposed remuneration for Cost Auditors (Kishore Bhatia & Associates) is ₹6,00,000 for FY2027.
- Remote e-voting period runs from August 7 to August 10, 2026.
Unichem Laboratories has released its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, revealing a standalone turnover of Rs 1,412.29 crore. The company remains heavily export-oriented, with 97.6% of its revenue derived from international markets across 65 countries. Despite a workforce of 2,815, the company was not mandated to spend on CSR for FY 2026 due to average net losses in the preceding three years. Customer complaints regarding product quality increased to 285 from 227 in the previous year, all of which are under investigation.
- Exports accounted for 97.6% of the total standalone turnover of Rs 1,412.29 crore in FY 2026.
- The company operates 6 manufacturing plants and 1 R&D center in India, serving 65 international countries.
- Total permanent workforce includes 1,878 employees and 902 workers, with a high employee turnover rate of 31.03%.
- Customer complaints related to product quality rose to 285 in FY 2026, up from 227 in FY 2025.
- CSR spending was not mandatory for FY 2026 as the company recorded an average net loss over the preceding three financial years.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 18.3% YoY to INR 2,110.97 Cr in FY2025. On a standalone basis, Formulations revenue grew 22.2% to INR 1,527.63 Cr, while APIs & Intermediates grew 13.3% to INR 161.17 Cr.
Geographic Revenue Split
Exports dominate operations, accounting for 98.02% of sales revenue. The US market is the primary driver, with Unichem USA contributing 64% of total sales revenue. Regulated markets historically represent 40% of revenue, while India business was 56% in older cycles but has shifted heavily toward exports.
Profitability Margins
Gross profit margin at the consolidated level for FY2025 improved by 0.6% YoY due to yield improvements and better product mix. The company achieved a Profit After Tax (PAT) of INR 137.52 Cr in FY2025, a significant recovery from a loss of INR 93.76 Cr in FY2024.
EBITDA Margin
EBITDA margins have shown recovery from 4.4% in H1 FY2024. Historical standalone margins were approximately 9.8% to 11.5%. The improvement is driven by operational ramp-up at the Ghaziabad and Goa facilities and cost-reduction initiatives in manufacturing.
Capital Expenditure
Capital expenditure for FY2025 was INR 126.31 Cr. The company previously incurred a cumulative capex of INR 857 Cr between FY2020 and FY2023 to enhance manufacturing capacities and R&D capabilities.
Credit Rating & Borrowing
Credit rating was upgraded to [ICRA]A+ (Stable) from [ICRA]A (Stable) in February 2025. Borrowing includes an ECB loan of $6 million for capex and a term loan of INR 125 Cr. Total rated facilities stand at INR 180 Cr.
Operational Drivers
Raw Materials
Active Pharmaceutical Ingredients (APIs) and intermediates are the primary raw materials, with a significant portion produced in-house for captive consumption to ensure supply chain reliability.
Import Sources
Not disclosed in available documents; however, the company emphasizes reduced reliance on external suppliers through backward integration.
Capacity Expansion
Recent expansions include the Ghaziabad plant (launched FY2023) and Unit 2 at Goa. The company is focused on scaling up these facilities to improve fixed overhead absorption.
Raw Material Costs
Raw material costs are managed through yield improvements and backward integration. Standalone revenue from operations increased 20.4% to INR 1,735.70 Cr, supported by margin resilience in input costs.
Manufacturing Efficiency
Efficiency is driven by operational ramp-up at new facilities. Operating cash flow turned positive at INR 72.29 Cr in FY2025 from negative INR 41.57 Cr in FY2024 due to better capacity utilization.
Logistics & Distribution
Not disclosed as a specific percentage of revenue, but elevated freight costs were noted as a factor that subdued profitability in H1 FY2024.
Strategic Growth
Expected Growth Rate
18.30%
Growth Strategy
Growth will be achieved through synergies with the Ipca group, leveraging their distribution network and capacities. Key drivers include the commercialization of newly approved ANDAs in the US, expansion of the CMO (Contract Manufacturing) business, and cost optimization through backward integration.
Products & Services
Generic pharmaceutical formulations, Active Pharmaceutical Ingredients (APIs), and intermediates. Key therapeutic areas include chronic and acute care.
Brand Portfolio
The company has 4 brands in the top 300 (AWACS), with 23 brands generating over INR 10 Cr in revenue and 21 brands over INR 5 Cr.
New Products/Services
Timely commercialization of newly approved ANDAs (Abbreviated New Drug Applications) is expected to be a primary revenue contributor.
Market Expansion
Focus on strengthening strategic presence in the US and other international markets, which already account for 98.02% of standalone sales.
Market Share & Ranking
Ranked 25th in the Indian Domestic Formulations market (as of 2017 data) and holds the No. 1 position in 19 therapeutic sub-groups.
Strategic Alliances
Acquisition of rights and interest in Bayshore Pharmaceuticals LLC, USA, from Ipca Laboratories (holding company) to enhance US market presence.
External Factors
Industry Trends
The pharmaceutical industry is seeing increased consolidation and regulatory scrutiny. Unichem is positioning itself by integrating with Ipca Laboratories to achieve better scale economics and supply reliability.
Competitive Landscape
Faces intense competition from both Indian and international generic pharmaceutical players, leading to persistent pricing pressure.
Competitive Moat
The moat is built on a clean USFDA compliance track record, deep backward integration into APIs (reducing external dependency), and a strong portfolio of 46 therapeutic sub-groups where brands rank in the top 5.
Macro Economic Sensitivity
Highly sensitive to US healthcare policies and pricing dynamics in the generics industry.
Consumer Behavior
Shift toward chronic care, which now accounts for approximately 60% of domestic formulation revenues.
Geopolitical Risks
Exposed to global macroeconomic environments and trade barriers in regulated markets like the US and EU.
Regulatory & Governance
Industry Regulations
Subject to USFDA inspections and EU regulatory standards. Compliance with the Code of Business Conduct and Ethics is affirmed by the Board.
Environmental Compliance
Not disclosed in INR; however, the company focuses on solvent recovery and energy conservation as part of its manufacturing process.
Taxation Policy Impact
Not disclosed as a specific percentage; however, PAT was INR 137.52 Cr on a consolidated basis for FY2025.
Legal Contingencies
The company is obligated to pay a penalty of 11.87 million Euro (plus interest) levied by the EU. Additionally, a $3 million payment is pending for the Bayshore acquisition.
Risk Analysis
Key Uncertainties
Regulatory risks associated with USFDA scrutiny and potential pricing caps in international markets could impact margins by 5-10% if adverse actions occur.
Geographic Concentration Risk
High concentration in the US market, which accounts for 64% of total sales revenue.
Third Party Dependencies
Low dependency on third-party API suppliers due to captive manufacturing, but high dependency on US distributors.
Technology Obsolescence Risk
The company manages technology risk through continuous R&D investment and upgrading manufacturing facilities like the Ghaziabad plant.
Credit & Counterparty Risk
Receivables quality is linked to export markets; high working capital (60% of OI) reflects the extended credit periods typical of international trade.
