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Bafna Pharmaceuticals Ltd (BAFNAPH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532989 NSE: BAFNAPH Pharmaceuticals & Drugs | Small Cap | Bafna Pharma Share Price

₹162.50 7.70 (4.97%)

As on 04-Jun'26 16:59

Bafna Pharmaceuticals Ltd (BAFNAPH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532989 NSE: BAFNAPH Pharmaceuticals & Drugs | Small Cap | Bafna Pharma Share Price

₹162.50 7.70 (4.97%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹384 Cr.
Current Price
₹162.5
52-Week Low / High
₹72 / 205
TTM EPS
₹4.7
TTM Sales
₹151 Cr.
Book Value per Share
₹40.6
P/E Ratio
34.63
Lower than its 5-year historical median
Industry PE
46.5
Price to Book (P/B)
4.00
Higher than its 5-year historical median
Price to Sales (P/S)
2.55
Higher than its 5-year historical median
EV/EBITDA
20.28
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
5.01%
Underperforms industry median
Return on Capital Employed (ROCE)
6.31%
Underperforms industry median
Return on Assets (ROA)
2.76%
Operating Profit Margin
7.5%
Net Profit Margin
2.85%
Gross Profit Margin
7.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-4.34%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-2.07%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-43.54%
Asset Quality
Promoter Holding
75.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹72 Cr.
Equity
₹23.7 Cr.
Face Value
₹10
All Time Low / High
₹4.65 / 204.95

Bafna Pharmaceuticals stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Bafna Pharmaceuticals Ltd a good quality company?
Bafna Pharmaceuticals Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Bafna Pharmaceuticals Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Bafna Pharmaceuticals Ltd vs industry peers?
Bafna Pharmaceuticals Ltd revenue CAGR is 27.99%, compared to the industry median CAGR of 5.35%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Bafna Pharmaceuticals Ltd?
Promoters hold 75.00% of the Bafna Pharmaceuticals Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Bafna Pharmaceuticals Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 16.5% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bafna Pharmaceuticals Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -0%-6%-7%-20.9%-3%10.6%8.4%16.1%9.6%6.3%-
Value Creation
Index
-1.0-1.4-1.5-2.5NA-0.2-0.40.2-0.3-0.6-

Growth Parameters

Sales 85.36547.243.642.571.285.1115152146151
Sales YoY Gr.--23.9%-27.4%-7.5%-2.7%67.7%19.6%35.5%32.2%-4.3%-
Adj EPS -6.6-10.1-15.9-8.3-8.42.42.14.32.624.7
YoY Gr.-NANANANANA-10.6%102.4%-39.1%-24.7%-
BVPS (₹) 31.52217.18.8-18.62426.231.134.235.940.6
Adj Net
Profit
-12.2-18.8-37.7-19.7-25.6510.16.14.611
Cash Flow from Ops. -319.8-7.1-1.1-34.3-13.69.759.522.1-
Debt/CF from Ops. -27.14.2-6.6-42.2-0.1-11.14.62.61.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.1%28%19.7%-4.3%
Adj EPS NANA-2.4%-24.7%
BVPS1.5%NA11%4.9%
Share Price 18.5% 3.8% 9% 118.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-18.7-35.9-88.2-64.4-5.510.38.414.985.612.3
Op. Profit
Mgn %
3.8-8-74.4-29.8314.51413.67.37.510.6
Net Profit
Mgn %
-14.4-28.9-80-45.2-4.77.85.88.743.27.4
Debt to
Equity
1.421.22.2-0.70.20.20.30.30.30.2
Working Cap
Days
49060372168245919321220820822099
Cash Conv.
Cycle
247290236313407481798838

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales85654744427185115152146
Operating Expenses + 83708257416173100141135
Manufacturing Costs1081011111413142023
Material Costs62503324163240638781
Employee Cost 6779101215161921
Other Costs 46311344671510
Operating Profit 3-5-35-1311012161111
Operating Profit Margin (%) 3.3%-8.0%-74.4%-30.0%2.9%14.5%14.0%13.6%7.3%7.5%
Other Income + 11310012343
Exceptional Items 000000-200-2
Interest 121172011223
Depreciation 4443345555
Profit Before Tax -13-19-14-18-2651274
Tax -0-122000000
Profit After Tax -12-18-16-20-2651174
PAT Margin (%) -14.3%-28.4%-34.9%-45.2%-4.4%8.2%6.1%9.8%4.8%2.9%
Adjusted EPS (₹)-6.5-9.9-7.0-8.3-7.92.52.24.83.11.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Bafna Pharma - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 59414121-45762738185
Share Capital 1919242422424242424
Reserves 412217-3-73338505761
Debt +8082474631310202123
Long Term Debt3539232333581114
Short Term Debt45432323010512109
Minority Interest0000000000
Trade Payables30232839131112283531
Others Liabilities 15201314607671115
Total Liabilities 185167128121718690130148153

Fixed Assets

Net Fixed Assets +47434037353639404059
Gross Block727273737480889599106
Accumulated Depreciation25293336394449545947
CWIP 00000102127
Investments 181811000000
Inventories1617119111520223028
Trade Receivables6854242561015414540
Cash Equivalents 3333820813
Others Assets 33324845102316171915
Total Assets 185167128121718690130148153

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -320-7-1-34-14105922
PBT -13-19-14-18-2651274
Adjustment 1515-205-20468810
Changes in Working Capital -6242712-12-23-1-14-58
Tax Paid 000000-0-0-00
Cash Flow From Investing Activity + -1-1438433-5-7-7-15-21
Capex -2-047-0-1-6-8-7-15-22
Net Investments 000000000-0
Others 1-14-943411-101
Cash Flow From Financing Activity + 4-5-31-2712-510-11
Net Proceeds from Shares 041205500000
Net Proceeds from Borrowing 254-16-0-203-51214
Interest Paid -12-11-7-2-0-0-0-2-2-3
Dividend Paid 0000000000
Others -8-2-20-0-28100000
Net Cash Flow 0-00-06-7-28-62

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-18.69-37.05-40.37-64.36N/A22.268.7916.759.525.01
ROCE (%)-0.04-5.98-6.97-20.9N/A10.628.4216.129.566.31
Asset Turnover Ratio0.470.380.320.350.440.90.961.051.10.97
PAT to CFO Conversion(x)N/AN/AN/AN/AN/A-2.3320.451.295.5
Working Capital Days
Receivable Days319.50334.60301.70205.50132.604052.2088.50103.60107.10
Inventory Days66.9091.10106.1083.5088.9068.8076.6067.2062.1072.20
Payable Days191.30196.50280.40512.60586.40133.60105.60118.30134.40149.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Bafna Pharmaceuticals Ltd FAQs

The current trading price of Bafna Pharma on 04-Jun-2026 16:59 is ₹162.5.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Bafna Pharma stood at ₹384.4 Cr

The latest P/E ratio of Bafna Pharma as of 03-Jun-2026 is 34.63.

The latest P/B ratio of Bafna Pharma as of 03-Jun-2026 is 4.00.

The 52-week high of Bafna Pharma is ₹204.9 and the 52-week low is ₹72.25.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bafna Pharma is ₹151 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bafna Pharmaceuticals Ltd is a below average quality company.

The key valuation ratios of Bafna Pharmaceuticals Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Bafna Pharmaceuticals Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Bafna Pharmaceuticals Ltd

Bafna Pharmaceuticals, incorporated in 1995, has been engaged in the manufacturing of pharmaceutical formulations for more than 3 decades. It exports its products to the United Kingdom, Australia, Sri Lanka, Africa, Philippines, Tanzania, Nigeria, and Commonwealth countries. It is known for providing consistent and unmatched service, supplying high-end pharmaceutical formulations to regulated and emerging markets. Additionally, the company has established itself as a competent player in the Contract Research and Manufacturing Services (CRAMS) industry. It has a WHO-GMP certified manufacturing facility. The facility is also accredited by EU GMP, UK MHRA, and TGA Australia for Non-Betalactum solid oral dosage forms. 

The company has established an in-house state-of-the-art Quality Control Lab at the its manufacturing facility. The lab features sophisticated and cutting-edge technology with advanced instruments to ensure rigorous quality control across all manufacturing processes. The facility has a dedicated containment area for manufacturing high potent drugs within the current manufacturing facility. This includes special features for ensuring protection of workers from cytotoxic agents, specialized equipment for handling highly potent formulations, and protocols to achieve safety, quality control, and compliance with stringent regulations. The company holds active product registrations in multiple countries.

Business area of the company:

The company is engaged in the manufacturing of pharmaceutical products. It exports its products to the United Kingdom, Australia, Sri Lanka, Africa, Philippines, Tanzania, Nigeria, and Commonwealth countries.

Product Range:

  • Anti-Diabetic
  • Cardiovascular
  • Anti-Hypertensive
  • Bi-Layer Antihypertensive

Awards, accreditations and recognition

  • 1995: The company was awarded the WHO GMP.
  • 2005: The company bagged the ‘Best Supplier Award’ from the State Pharmaceutical Corporation of Sri Lanka.
  • 2009: The company received ISO 9001: 2000 Certificate of Registration for Manufacture and Export of Pharmaceutical products.
  • 2010: The company received ‘Best Supplier Award’ from the Government of Sri Lanka, Gold Quality Excellence Award 2009.
  • 2011: The company received Indian Drug Manufacturer's Association (IDMA) Quality Excellence Award 2010 - Silver Award under the category of Formulations Units.
  • 2011: The company received Excellence Award 2011 from IES.
  • 2011-12: The company received IDMA - Gold Award - Quality Excellence Award.
  • 2012-13: Bafna received the Prestigious Certificate Of Excellence From 16th State Pharmaceuticals Corporation (spc) Suppliers Convention 2013, Sri Lanka.
  • 2024-2025: Excellence in Pharma Exports by Times of India.
  • 2024-2025: Top 10 Finished Dosage Formulations Manufacturer by India Pharma Outlook.  
  • 2024-2025: Emerging Company of the Year 2025 - Healthcare by MSME Chamber of Commerce & Industry of India.
  • 2024-2025: MSME Best CEO 2025 by MSME Chamber of Commerce & Industry of India.

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