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10 Yrs X-Ray 
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Analyst Note 
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About
Emcure Pharmaceuticals Ltd (EMCURE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544210 NSE: EMCURE Pharmaceuticals & Drugs | Small Cap | Emcure Pharma Share Price
₹1,976.10 14.30 (0.73%)
As on 11-Sep'26 14:43
Emcure Pharmaceuticals Ltd (EMCURE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544210 NSE: EMCURE Pharmaceuticals & Drugs | Small Cap | Emcure Pharma Share Price
₹1,976.10 14.30 (0.73%)
As on 11-Sep'26 14:43
Key Metrics
Valuation Multiples
Market Cap
₹37,215 Cr.
Current Price
₹1,976.1
52-Week Low / High
₹1,260 / 2,047
TTM EPS
₹53.3
TTM Sales
₹9,683 Cr.
Book Value per Share
₹275.7
P/E Ratio
36.80
Lower than its 3-year historical median
Industry PE
54.3
Price to Book (P/B)
7.11
Lower than its 3-year historical median
Price to Sales (P/S)
3.84
Lower than its 3-year historical median
EV/EBITDA
19.22
Lower than its 3-year historical median
Dividend Yield
0.18%
Profitability Efficiency
Return on Equity (ROE)
20.09%
Outperforms industry median
Return on Capital Employed (ROCE)
25.25%
Outperforms industry median
Return on Assets (ROA)
10.70%
Operating Profit Margin
19%
Net Profit Margin
10.23%
Gross Profit Margin
18.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
19.66%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
18.85%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
33.05%
Asset Quality
Promoter Holding
77.83%
Pledged shares (%) of Promoter's holding (%)
0.04%
Reserves
₹5,041 Cr.
Equity
₹189.7 Cr.
Face Value
₹10
All Time Low / High
₹890.00 / 2047.40
Check Before You Invest
Quality
Very GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Emcure Pharmaceuticals Ltd a good quality company?
Emcure Pharmaceuticals Ltd is a good quality company, based on a consistently good 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 Emcure Pharmaceuticals Ltd performance compare with that of its Peers?
Revenue growth of Emcure Pharmaceuticals Ltd vs industry peers?
Emcure Pharmaceuticals Ltd revenue CAGR is 10.70%, compared to the industry median CAGR of 5.76%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Emcure Pharmaceuticals Ltd?
Promoters hold 77.83% of the Emcure Pharmaceuticals Ltd, with 0.04% of their stake pledged, indicating low pledge risk.
Stock return of Emcure Pharmaceuticals Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 45.03% based on the current price.
10 Year X-Ray :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Emcure Pharmaceuticals Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 15.3% | 18% | 18% | 11.9% | 19.4% | 21.2% | 11.2% | 10.7% | 15.4% | 24.3% | - |
| Value Creation Index ⓘ | 0.4 | 0.6 | 0.6 | 0.1 | 0.7 | 0.5 | -0.2 | -0.2 | 0.1 | 1.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 2,058 | 2,241 | 2,454 | 2,376 | 3,154 | 3,387 | 3,107 | 3,498 | 4,382 | 5,243 | 5,598 |
| Sales YoY Gr. | - | 8.9% | 9.5% | -3.2% | 32.8% | 7.4% | -8.3% | 12.6% | 25.3% | 19.7% | - |
| Adj EPS ⓘ | 16.5 | 13.9 | 15.7 | 9 | 22.4 | 23.1 | 8 | 8.5 | 14.4 | 35.8 | 42.7 |
| YoY Gr. | - | -15.9% | 12.8% | -42.7% | 150.2% | 2.9% | -65.5% | 6.7% | 70% | 148.1% | - |
| BVPS (₹) ⓘ | 67.1 | 77.1 | 97.4 | 104.4 | 126.6 | 93.8 | 101 | 105.9 | 159 | 195.1 | 205.5 |
| Adj Net Profit ⓘ | 298 | 251 | 283 | 162 | 406 | 418 | 144 | 154 | 273 | 679 | 810 |
| Cash Flow from Ops. ⓘ | 325 | 401 | 371 | 385 | 775 | 428 | 505 | 585 | 558 | 424 | - |
| Debt/CF from Ops. ⓘ | 3.2 | 2.8 | 3.3 | 3.1 | 2.1 | 3.7 | 3.3 | 2.4 | 1.2 | 3.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11% | 10.7% | 19.1% | 19.7% | ||||
| Adj EPS ⓘ | 9% | 9.8% | 65.1% | 148.1% | ||||
| BVPSⓘ | 12.6% | 9% | 24.6% | 22.7% | ||||
| Share Price | - | - | - | 43.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 26.4 | 19 | 17.8 | 8.8 | 19.3 | 20.8 | 8.1 | 8.2 | 11 | 20.2 | 21.3 |
| Op. Profit Mgn % ⓘ | 24.4 | 23.6 | 23.3 | 18 | 23.6 | 23.5 | 14.1 | 12.6 | 14.2 | 19.5 | 19.9 |
| Net Profit Mgn % ⓘ | 14.5 | 11.2 | 11.5 | 6.8 | 12.9 | 12.3 | 4.6 | 4.4 | 6.2 | 12.9 | 14.5 |
| Debt to Equity ⓘ | 0.9 | 0.8 | 0.7 | 0.6 | 0.7 | 0.9 | 0.9 | 0.7 | 0.2 | 0.4 | - |
| Working Cap Days ⓘ | 200 | 201 | 222 | 272 | 236 | 233 | 250 | 225 | 211 | 225 | 103 |
| Cash Conv. Cycle ⓘ | 102 | 88 | 104 | 147 | 103 | 93 | 113 | 95 | 76 | 74 | 28 |
Valuation of Emcure Pharma - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,188 | 4,228 | 4,717 | 5,049 | 6,056 | 5,855 | 5,986 | 6,658 | 7,896 | 9,204 |
| Operating Expenses ⓘ + | 3,336 | 3,461 | 3,968 | 4,345 | 4,824 | 4,525 | 4,805 | 5,429 | 6,427 | 7,458 |
| Operating Profit ⓘ | 852 | 767 | 749 | 704 | 1,232 | 1,330 | 1,181 | 1,230 | 1,469 | 1,746 |
| Operating Profit Margin (%) | 20.3% | 18.1% | 15.9% | 13.9% | 20.3% | 22.7% | 19.7% | 18.5% | 18.6% | 19.0% |
| Other Income ⓘ + | 21 | 46 | 95 | 82 | 35 | 63 | 46 | 57 | 73 | 131 |
| Interest ⓘ | 174 | 176 | 223 | 257 | 198 | 176 | 214 | 237 | 176 | 144 |
| Depreciation ⓘ | 217 | 228 | 267 | 321 | 323 | 245 | 260 | 312 | 384 | 415 |
| Profit Before Tax ⓘ | 296 | 290 | 331 | 105 | 657 | 973 | 747 | 727 | 971 | 1,287 |
| Tax ⓘ | 44 | 116 | 121 | 5 | 239 | 270 | 185 | 200 | 264 | 346 |
| Profit After Tax | 251 | 174 | 209 | 101 | 419 | 703 | 562 | 528 | 707 | 941 |
| PAT Margin (%) | 6.0% | 4.1% | 4.4% | 2.0% | 6.9% | 12.0% | 9.4% | 7.9% | 9.0% | 10.2% |
| Adjusted EPS (₹) | 13.3 | 9.7 | 10.8 | 4.6 | 21.7 | 36.6 | 29.4 | 27.5 | 36.0 | 48.8 |
| Dividend Payout Ratio (%) | 22.60% | 36.20% | 32.50% | 54.10% | 4.60% | 8.20% | 6.80% | 10.90% | 8.30% | 7.40% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 1,568 | 1,685 | 1,820 | 1,885 | 2,261 | 1,972 | 2,486 | 2,938 | 4,434 | 4,938 | |
| Debt + | 1,439 | 1,568 | 1,775 | 1,824 | 1,957 | 1,802 | 1,876 | 1,714 | 665 | 1,048 | |
| Minority Interest | 67 | 54 | 65 | 72 | 95 | 127 | 149 | 169 | 195 | 27 | |
| Trade Payables | 506 | 622 | 685 | 741 | 972 | 1,125 | 1,086 | 1,309 | 1,480 | 1,808 | |
| Others Liabilities ⓘ | 1,011 | 1,160 | 1,095 | 1,281 | 1,374 | 922 | 976 | 1,579 | 1,348 | 1,653 | |
| Total Liabilities ⓘ | 4,592 | 5,089 | 5,440 | 5,803 | 6,659 | 5,947 | 6,573 | 7,709 | 8,122 | 9,473 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 1,941 | 2,049 | 2,248 | 2,382 | 2,456 | 2,044 | 2,147 | 3,125 | 3,197 | 3,319 | |
| CWIP ⓘ | 440 | 531 | 581 | 485 | 302 | 320 | 411 | 159 | 177 | 273 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 25 | 25 | 318 | 95 | 20 | |
| Inventories | 995 | 928 | 1,128 | 1,173 | 1,514 | 1,449 | 1,383 | 1,525 | 1,932 | 2,398 | |
| Trade Receivables | 642 | 870 | 972 | 1,145 | 1,475 | 1,309 | 1,648 | 1,859 | 2,002 | 2,563 | |
| Cash Equivalents | 263 | 270 | 104 | 164 | 524 | 313 | 458 | 232 | 165 | 148 | |
| Others Assets ⓘ | 310 | 440 | 408 | 454 | 388 | 487 | 501 | 491 | 553 | 753 | |
| Total Assets ⓘ | 4,592 | 5,089 | 5,440 | 5,803 | 6,659 | 5,947 | 6,573 | 7,709 | 8,122 | 9,473 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 460 | 482 | 444 | 500 | 704 | 768 | 747 | 1,097 | 852 | 944 |
| Cash Flow From Investing Activity ⓘ + | -616 | -426 | -409 | -164 | -252 | -789 | -468 | -713 | -94 | -1,193 |
| Cash Flow From Financing Activity ⓘ + | 293 | -69 | -735 | -301 | -189 | -152 | -145 | -164 | -814 | 343 |
| Net Cash Flow ⓘ | 137 | -13 | -699 | 36 | 264 | -172 | 134 | 221 | -56 | 94 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 17.13 | 10.74 | 11.94 | 5.43 | 20.19 | 33.19 | 25.21 | 19.45 | 19.19 | 20.09 |
| ROCE (%) | 14.82 | 13.17 | 14.46 | 9 | 19.75 | 26.56 | 21.97 | 19.87 | 22.49 | 25.25 |
| Asset Turnover Ratio | 0.96 | 0.88 | 0.93 | 0.93 | 1 | 0.95 | 0.97 | 0.95 | 1.01 | 1.07 |
| PAT to CFO Conversion(x) | 1.83 | 2.77 | 2.12 | 4.95 | 1.68 | 1.09 | 1.33 | 2.08 | 1.21 | 1 |
| Working Capital Days | ||||||||||
| Receivable Days | 59.90 | 65.20 | 68.80 | 74.10 | 76.50 | 85 | 88.50 | 94.30 | 87.80 | 88.70 |
| Inventory Days | 81.90 | 82.90 | 76.80 | 80.50 | 78.50 | 90.50 | 84.80 | 78.20 | 78.60 | 84.10 |
| Payable Days | 141.70 | 151.60 | 144.80 | 137.30 | 133 | 188.80 | 194.90 | 193.70 | 175 | 176.70 |
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Emcure Pharmaceuticals Ltd FAQs
The current trading price of Emcure Pharma on 11-Sep-2026 14:43 is ₹1,976.1.
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 10-Sep-2026 the market cap of Emcure Pharma stood at ₹37,215.2 Cr
The latest P/E ratio of Emcure Pharma as of 10-Sep-2026 is 45.93.
The latest P/B ratio of Emcure Pharma as of 10-Sep-2026 is 9.55.
The 52-week high of Emcure Pharma is ₹2,047.4 and the 52-week low is ₹1,260.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Emcure Pharma is ₹5,598 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Emcure Pharmaceuticals Ltd is a good quality company.
The key valuation ratios of Emcure Pharmaceuticals Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Emcure Pharmaceuticals Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Emcure Pharmaceuticals Ltd
Emcure Pharmaceuticals (Emcure) is an Indian pharmaceutical company engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. It is a research and development (R&D) driven company with a differentiated product portfolio that includes orals, injectables and biotherapeutics, which has enabled it to reach a range of target markets across many countries, with a strong presence in India, Europe and Canada. It is led by Promoters with significant experience in the pharmaceutical industry who are supported by a strong professional management team. It is focused towards pharmaceutical products used in chronic (including sub-chronic) therapeutic areas. The company also sells its portfolio of differentiated products internationally in many countries. It has established its international presence by either developing its own front-end distribution capabilities or focusing on alliances with local and multi-national companies that have an established presence in the therapeutic areas of its focus. The company is an R&D driven company and its core strength lies in its ability to research, develop and manufacture inhouse specialty pharmaceutical products for high-growth therapeutic areas, for which there is limited competition and high barriers to entry.
The company has several manufacturing facilities across India. Its facilities are capable of producing pharmaceutical and biopharmaceutical products across a wide range of dosage forms, including oral solids, oral liquids, injectables, including liposomal and lyophilized injectables, biotherapeutics and complex Active Pharmaceutical Ingredients (APIs), including chiral molecules, iron molecules and cytotoxic products. Further, its ability to manufacture its own APIs and formulations has allowed it to attain a significant degree of vertical integration, allowing it to source products in a cost-effective manner, ensure quality and security of availability of an essential raw material and protect its intellectual property. In particular, it has in-house manufacturing capabilities for most of its specialty products, including complex injectables, iron products, photo-chemistry products, chiral molecules and biotherapeutics.
The company was originally incorporated as Emcure Pharmaceuticals Private Limited as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated April 16, 1981, issued by the Registrar of Companies, Maharashtra at Bombay. The company became a deemed public company under section 43A (1A) of the Companies Act, 1956 with effect from July 1, 1993 and the word ‘Private’ was removed from the name of the company and the certificate of incorporation of the company was endorsed by the Registrar of Companies, Maharashtra at Bombay to that effect. Subsequently, the company was converted from a deemed public company into a public company upon amendment of section 43A of the Companies Act, 1956 by the Companies Amendment Act, 2000 and the name of the company was changed to ‘Emcure Pharmaceuticals Limited’, pursuant to Shareholders resolution dated August 20, 2001 and a certificate of change of name was issued by the RoC on September 18, 2001.
Business area of the company
The company is one of the leading Indian pharmaceutical companies engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. The company’s core strength and competitive advantage lie in its established presence in all major therapeutic areas including Gynaecology, cardiology, blood-related, oncology, respiratory, CNS (Central Nervous System) & HIV (Human Immunodeficiency Virus) among others.
Key awards, accreditations or recognitions
- 2012: Received the Pharmexcil Silver Patent Award for 2011-2012 for commendable contribution in Bulk Drugs / APIs Category.
- 2013: Received the Pharmexcil Silver Patent Award (Bulk Drugs) for 2012-2013 for commendable contribution in developing pharmaceutical patents.
- 2014: Received the Pharmexcil Gold Patent Award for 2013-2014 for commendable contribution in Bulk Drugs / APIs Category.
- 2015: Received the Pharmexcil Silver Patent Award for 2014-2015 for commendable contribution in Bulk Drugs / APIs Category.
- 2016: Received the Best API Patent Award 2014-2015 by Indian Drug Manufacturers’ Association in IDMA Margi Memorial Best Patents Awards.
- 2017: Received the Best Indian API Patents Award 2015-2016 by Indian Drug Manufacturers’ Association in IDMA Margi Memorial Best Patents Awards.
- 2017: Received recognition from the Limca Books of Records for conducting 16,442 haemoglobin detection tests in a single day across 33 centres in India.
- 2017: Received the Best New Introduction of the Year Silver Award by AWACS (21-50 Acute Category) for introducing Sporaz.
- 2017: Received the New Introduction of the Year Silver Award in the AWACS Awards in Marketing Excellence for Ceastra.
- 2018: Received the Best API Patents Award 2016-2017 by Indian Drug Manufacturers’ Association in IDMA Margi Memorial Best Patents Awards.
- 2018: Received the New Introduction of the Year Chronic/Subchronic Gold Award in the AWACS Awards in Marketing Excellence for Emluz.
- 2019: Received the Best Indian Patents Award 2017-2018 by Indian Drug Manufacturers’ Association in IDMA Margi Memorial Best Patents Awards.
- 2019: Received the Brand of the Year Chronic/Subchronic Bronze Award in the AWACS Awards in Marketing Excellence for Orofer XT.
- 2020: Received the Best API Patents Award 2018-2019 by Indian Drug Manufacturers’ Association in IDMA Margi Memorial Best Patents Awards.
- 2020: Received the Platinum Impact Award in the Pronto Consult Consumer Award for Vylda.
- 2021: Received the Golden Impact Award at the Pronto Consult Consumer Awards for Ferium 500 inj.
- 2021: Received the Best International Patent Award 2019-2021 from the Indian Drug Manufacturers’ Association in the IDMA Margi Patel Choksi Memorial Best Patent Awards.
- 2022: Awarded the Silver Impact Award at Pronto Consult Award for Vylda.
- 2022: Awarded the 1st runner up at the AWACS Pharmarack Awards for New Introduction of the Year above 2,000 crores – Chronic for Dydrofem.
Major events and milestones
- 1981: The company was incorporated as Emcure Pharmaceuticals Private Limited.
- 1999: Amalgamation of Lasor Drugs Limited with company.
- 2001: The company was converted from a deemed public company into a public company.
- 2001: Amalgamation of Emcure Laboratories Private Limited, Lasor Laboratories Limited, Lasor Remedies Limited, Nucron Pharmaceuticals Limited and Hiralal Mehta Sales Private Limited with the company.
- 2001: The company’s Subsidiary, Gennova Biopharmaceuticals Limited was incorporated in India.
- 2002: The company received an approval to manufacture ‘S (-) Amlodipine Besilate tablets Asomex – 2.5’ from the Joint Commissioner, Food and Drugs Administration, Pune, Maharashtra, India.
- 2002: The company’s Subsidiary, Zuventus Healthcare Limited, was incorporated in India.
- 2006: The company established a facility at Kurkumbh, Pune, Maharashtra, India.
- 2006: The company commenced operations of injectables facility at Hinjawadi, Pune, Maharashtra, India.
- 2007: Facility established by Subsidiary, Gennova at Hinjawadi, Pune, Maharashtra, India became operational.
- 2007: The company’s Subsidiary, Gennova received an approval from the Central Drugs Standard Control Organisation to start manufacturing ‘Recombinant Tissue Plasminogen Activator (TNK-t-PA)’.
- 2007: The company’s Subsidiary, Emcure Nigeria Limited, was incorporated in Nigeria.
- 2009: The company commenced production of tablets and capsules at facility at Jammu, Jammu and Kashmir, India.
- 2010: The company’s Subsidiary, Emcure Pharmaceuticals Mena FZ-LLC was incorporated in Dubai.
- 2010: The company’s Subsidiary, Emcure Pharmaceuticals South Africa (Pty) Ltd, was incorporated, in South Africa.
- 2011: The company’s Subsidiary, Emcure Brasil Farmaceutica LTDA, was incorporated, in Brazil.
- 2012: The company acquired rights of BICNU.
- 2012: The company’s Subsidiary, Emcure Pharma UK Ltd., was incorporated in the United Kingdom.
- 2014: The company’s Subsidiary, Emcure UK acquired Tillomed Laboratories Limited.
- 2014: The company’s Subsidiary, Emcure Pharma Peru S.A.C., was incorporated in Peru.
- 2014: The company’s Subsidiary, Emcure Pharma Mexico S.A. DE C.V., was incorporated in Mexico.
- 2015: The company entered into Canada through acquisition of Marcan Pharmaceuticals Inc.
- 2014: The company’s Subsidiary, Emcure Pharmaceuticals Pty Ltd., was incorporated in Australia.
- 2015: The company entered into Canada through acquisition of Marcan Pharmaceuticals Inc.
- 2015: The company’s Subsidiary, Emcure Pharmaceuticals Pty Ltd., was incorporated in Australia.
- 2016: The company’s, Subsidiary Emcure UK acquired Laboratorios Tillomed Spain SLU.
- 2017: The company’s Subsidiary, Zuventus, established a manufacturing facility at Bengaluru, Karnataka, India.
- 2017: The company’s Subsidiary, Tillomed Italia S.R.L, was incorporated in Italy.
- 2018: The company received a license to work a factory in relation to the manufacturing facility situated at Sanand, Gujarat, India.
- 2020: The company’s Subsidiary, Emcure Pharma Chile SpA, was incorporated in Chile.
- 2021: The company’s Subsidiary, Lazor Pharmaceuticals Limited, was incorporated in Kenya.
- 2021: The company’s Subsidiary, Emcure Pharma Philippines Inc., was incorporated in Philippines.
- 2022: The company’s Subsidiary, Tillomed Malta Ltd, was incorporated in Malta.
- 2023: The company’s Subsidiary, Marcan Pharmaceuticals Inc., acquired Mantra Pharma Inc.
- 2024: Emcure’s IPO was successfully listed on Indian stock exchanges, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 10, 2024.
- 2024: Emcutix, a wholly owned subsidiary focused on dermatology segment was launched in Oct 2024, to provide breakthrough solutions in prescription, consumer, and aesthetic dermatology.
- 2025: Emcure Research Centre (ERC) was inaugurated in Ahmedabad to drive breakthroughs in complex drug delivery systems, including sustained-release formulations, liposomal injections, and advanced dermal therapies.
- 2025: Zuventus becomes wholly-owned subsidiary of Emcure.
- 2026: Emcure Pharmaceuticals signs distribution agreement with Roche.
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