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FDC Ltd (FDC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531599 NSE: FDC Pharmaceuticals & Drugs | Small Cap | FDC Share Price

₹400.95 1.80 (0.45%)

As on 04-Jun'26 16:59

FDC Ltd (FDC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531599 NSE: FDC Pharmaceuticals & Drugs | Small Cap | FDC Share Price

₹400.95 1.80 (0.45%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹6,528 Cr.
Current Price
₹401
52-Week Low / High
₹315 / 528
TTM EPS
₹17.6
TTM Sales
₹2,126 Cr.
Book Value per Share
₹153.1
P/E Ratio
22.83
Lower than its 5-year historical median
Industry PE
46.5
Price to Book (P/B)
2.62
Lower than its 5-year historical median
Price to Sales (P/S)
3.07
Lower than its 5-year historical median
EV/EBITDA
14.01
Lower than its 5-year historical median
Dividend Yield
1.27%
Profitability Efficiency
Return on Equity (ROE)
12.48%
Outperforms industry median
Return on Capital Employed (ROCE)
16.98%
Outperforms industry median
Return on Assets (ROA)
7.88%
Operating Profit Margin
15.5%
Net Profit Margin
13.22%
Gross Profit Margin
19.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
8.03%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-5.38%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-10.92%
Asset Quality
Promoter Holding
69.66%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,476 Cr.
Equity
₹16.3 Cr.
Face Value
₹1
All Time Low / High
₹2.44 / 659.00

FDC 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 FDC Ltd a good quality company?
FDC 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 FDC Ltd performance compare with that of its Peers?
Q.1 Revenue growth of FDC Ltd vs industry peers?
FDC Ltd revenue CAGR is 9.23%, 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 FDC Ltd?
Promoters hold 69.66% of the FDC Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of FDC Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.4% based on the current price.

DeciZen - make an informed investing decision on FDC

Decision Maker
Standalone basis

1. Right Stock

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2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

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.
FDC 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 23.3%21.5%18.6%17.6%22.1%23.4%15.7%13.7%19.7%17%-
Value Creation
Index
0.70.50.40.30.60.70.10.00.50.3-

Growth Parameters

Sales 9871,0091,0621,0761,3311,3251,5191,7771,9162,0702,126
Sales YoY Gr.-2.2%5.3%1.3%23.7%-0.4%14.6%17%7.8%8%-
Adj EPS 910.59.79.614.516.612.611.517.715.517.6
YoY Gr.-16.1%-6.9%-1.5%51.3%14.6%-24%-8.8%53.8%-12.6%-
BVPS (₹) 60.571.172.482.290.2102115.4119.4128.8140.5153.1
Adj Net
Profit
160186170167248280213191288252286
Cash Flow from Ops. 171153148104239210162165221310-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 8.6%9.2%10.9%8%
Adj EPS 6.2%1.3%7%-12.6%
BVPS9.8%9.3%6.8%9.1%
Share Price 8.2% 3.5% 10.5% -7.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1615.913.412.416.717.211.69.714.111.512
Op. Profit
Mgn %
232421.220.523.22516.714.317.715.515.9
Net Profit
Mgn %
16.218.41615.518.621.21410.81512.213.4
Debt to
Equity
00000000000
Working Cap
Days
8215724027125328928227427226198
Cash Conv.
Cycle
2431344242525243444066

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales9871,0091,0621,0761,3311,3251,5191,7771,9162,070
Operating Expenses + 7607678438561,0481,0011,2721,5241,5781,750
Manufacturing Costs728397106118125157189208205
Material Costs355338350344425412528654646724
Employee Cost 175190215226276294340387409477
Other Costs 159156181180229170247294315344
Operating Profit 227242219220284324247253338320
Operating Profit Margin (%) 23.0%24.0%20.6%20.5%21.3%24.5%16.3%14.2%17.7%15.5%
Other Income + 4050515583977955103106
Exceptional Items 0-60-4000000
Interest 1111333444
Depreciation 34353533373837394054
Profit Before Tax 232250234236325380285266398368
Tax 63636665798666659194
Profit After Tax 169187168172247294220201307274
PAT Margin (%) 17.1%18.5%15.9%15.9%18.5%22.2%14.5%11.3%16.0%13.2%
Adjusted EPS (₹)9.510.59.79.814.417.513.012.118.916.8
Dividend Payout Ratio (%)23.70%21.40%0%0%5.50%0%0%0%0%29.80%

Valuation of FDC - 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 + 1,0771,2641,2621,4331,5421,7221,9491,9812,0972,287
Share Capital 18181818171717171616
Reserves 1,0591,2461,2451,4161,5251,7051,9321,9642,0812,271
Debt +1110000000
Long Term Debt1110000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables8275977711877136178185202
Others Liabilities 995295906467598439371,0131,0251,151
Total Liabilities 1,2591,8681,9502,1562,4192,6423,0223,1723,3073,640

Fixed Assets

Net Fixed Assets +671674670678670685701695676848
Gross Block7047427728148418919429729861,176
Accumulated Depreciation3368103135171206241277309328
CWIP 20613122419104198261136
Investments 3254914725856657908868068501,050
Inventories130136160173209213304323383368
Trade Receivables6477778412410880121115104
Cash Equivalents 14232116292732212241
Others Assets 354595386086987999151,0081,0001,094
Total Assets 1,2591,8681,9502,1562,4192,6423,0223,1723,3073,640

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 171153148104239210162165221310
PBT 232256234240325380285266398368
Adjustment 0-11-2-148-41-241-52-40
Changes in Working Capital -6-19-17-51-11-36-21-25-2285
Tax Paid -55-70-68-72-84-94-78-77-103-103
Cash Flow From Investing Activity + -73-14420-109-85-84-1474-18-199
Capex -306-25-36-42-4-59-127-111-70-91
Net Investments 216-12923-94-136-30-429625-156
Others 1810332755421192847
Cash Flow From Financing Activity + -970-169-0-142-126-10-180-202-92
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -00000-1-1-1-3-3
Dividend Paid -960-400-14000-0-81
Others -10-129-0-128-126-9-179-199-8
Net Cash Flow 110-2-612-15-11119

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)16.8415.9913.3312.7316.5918.0411.9710.2315.0612.48
ROCE (%)23.2521.4518.6217.6322.0623.4315.6613.719.7116.98
Asset Turnover Ratio0.840.670.580.540.60.540.550.590.610.62
PAT to CFO Conversion(x)1.010.820.880.60.970.710.740.820.721.13
Working Capital Days
Receivable Days22.5024.7025.6026.5027.8031.2021.902021.8018.70
Inventory Days45.5046.5049.105551.1056.8060.3062.4065.4064.10
Payable Days86.6084.7089.5092.3083.708673.6087.80102.6097.30

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

FDC Ltd FAQs

The current trading price of FDC on 04-Jun-2026 16:59 is ₹400.9.

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 FDC stood at ₹6,527.9 Cr

The latest P/E ratio of FDC as of 03-Jun-2026 is 22.83.

The latest P/B ratio of FDC as of 03-Jun-2026 is 2.62.

The 52-week high of FDC is ₹528.3 and the 52-week low is ₹314.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of FDC is ₹2,126 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that FDC Ltd is a good quality company.

The key valuation ratios of FDC Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

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

About FDC Ltd

FDC make modest beginning in 1936, with marketing of vitamins and a range of prescription formulations. FDC set up its first formulations manufacturing facility in 1949. Subsequently, in 1963, FDC pioneered the manufacture of specialized ophthalmic formulations in India. FDC was the first organization to introduce the BFS (Blow-Fill-Seal) technology for ophthalmic in South East Asia. In 1972, FDC initiated the concept of Oral Rehydration Salts (ORS). Today its pioneer brand ‘Electral’ stands apart with a special identity- an impressive achievement in a fiercely competitive market. FDC’s API plant at Roha (Maharashtra) was among the first few API facilities in India to get US-FDA approval in 1984. Since then, FDC has to its credit a number of new molecules, introduced for the first time in the nation.

Today, FDC carries forward the flaming spirit of its first dream, achieving accreditations from the US-FDA, UK-MHRA, MCC-RSA, and the UAE, to cite a few. FDC is a forerunner in manufacturing and marketing of Oral Rehydration Salts (ORS) and Ophthalmics. FDC has also set-up globally approved, multi-location manufacturing facilities for Active Pharmaceuticals Ingredients (APIs) as well as Finished Dosage Forms. These facilities are located at Roha, Waluj and Sinnar in Maharashtra, Verna in Goa and Baddi in Himachal Pradesh. FDC markets hundreds of products in India and exports many of these to various countries.

Business area of the company

FDC Limited is among India’s leading fully integrated pharmaceutical companies. The Company is a pioneer in the manufacture of specialised formulations, and among the world’s foremost manufacturers and marketers of Oral Rehydration Salts (ORS). Over its long history of 85 years, the Company has maintained a distinguished reputation for high-quality, affordable products and built a market-leading brand portfolio.

Products

Formulations

FDC is a pioneer in the manufacture of specialized formulations, and the world's leading manufacturer of ORS (Oral Rehydration Salts) since 1972. It is a fully-integrated Pharmaceutical Company, with US-FDA and UK-MHRA approved API and formulations manufacturing facilities. FDC was the first in South East Asia to offer ophthalmic formulations, using Blow-Fill-Seal (BFS) technology.

It has its presence in numerous therapeutic segments: anti-infectives, gastrointestinals, ophthalmologicals, vitamins/ minerals/ dietary supplements, cardiac, anti-diabetes, respiratory, gynaecology, dermatology, analgesics and others. FDC’s Zifi, Electral, Enerzal, Vitcofol, Pyrimon, Zocon, Zoxan, Zathrin, Zipod, Zefu, Cotaryl and Mycoderm are leading brands in their respective segments in India.

Functional Food

Products that deliver benefits consistently are the hallmark of FDC's Food Division. These products have quality certifications such as BIS (ISI mark) and HACCP. FDC has a wide range of functional foods and beverages.

Few well known brands and their use/categories are: Prosoyal for lactose intolerance; Humyl as an ideal protein supplement; Zefrich as a complete family nourisher; Enerzal, a Balanced Energy drink; and Simyl MCT, Simyl LBW and MumMum 1 and 2 as infant milk substitutes.

API

To develop cost-effective, environment-friendly, high-quality APIs meeting stringent ICH standards is the main focus of FDC’s API division. The company’s products and manufacturing facilities have been inspected and approved multiple times by major Regulatory bodies such as US-FDA and WHO-GMP. Till date the company has developed over twenty-three APIs of which fourteen have already been commercialized and exported across the world.

Milestones

  • 1936: Mr. Anand Chandavarkar set-up Fairdeal Corporation (FDC) to import drugs, infant foods and surgical appliances for distribution in India
  • 1940: The Fairdeal Corporation was incorporated as a Fairdeal Corporation (Private) Limited Company under Indian Companies Act, 1913
  • 1949: Formulation plant established in Jogeshwari, Mumbai
  • 1963: Introduced Vanmycetin Eye Drops - starting point for ophthalmic and ENT range
  • 1972: Introduced Electral - a result of pioneering work in Oral Rehydration Therapy
  • 1974: Fairdeal's R&D facilities obtain recognition from Government of India
  • 1977: Active Pharmaceutical Ingredient (API) plant commissioned at Roha, Maharashtra
  • 1984: Foods division set up for manufacture of specialized infant foods at Roha
  • 1985: First US FDA approval of API plant at Roha
  • 1986: Fairdeal Corporation (Pvt.) Ltd. was renamed FDC Private Limited
  • 1987: Multi-purpose formulation plant commissioned at Waluj in Maharashtra
  • 1989: Started commercial production of Flurbiprofen
  • 1991: Biotechnology research centre set-up at Waluj
  • 1991: Production of Timolol Maleate (API) started
  • 1992: National Award from the Council of Scientific Research and Industry (CSRI) for Indigenous R&D of Flurbiprofen and Timolol Maleate
  • 1994: First Indian company to introduce BFS (Blow-Fill-Seal) technology in Ophthalmics, which optimizes sterility and is highly user friendly
  • 1996: Public issue of 26,28,200 equity shares of Rs. 10 each at a premium of Rs. 90 each
  • 1996: FDC awarded 'Export House' status
  • 1996: Specialized & dedicated field force established to promote ophthalmic specialties
  • 1998: UK-MHRA approval for ophthalmic facility at Waluj
  • 1999: FDC International set-up in the UK for distribution and marketing of Ophthalmic products
  • 2002: First UK-MHRA approval for oral solids facility at Goa Plant - I
  • 2004: FDC South Africa established
  • 2005: First US-FDA approval for ophthalmic facility at Waluj
  • 2005: 2 ANDAs filed for ophthalmic dosage forms in the U.S.
  • 2006: Forbes rates FDC among the 'BEST UNDER A BILLION COMPANIES'
  • 2006: US Patent awarded for UV-Lube, the first definitive therapy for dry-eye syndrome
  • 2008: US-ANDA approval received for three ophthalmic formulations
  • 2008: US-FDA approval received for Waluj
  • 2008: MHRA approval received for Goa unit - I
  • 2008: New oral Cephalosporins facility set-up at Baddi
  • 2009: UK-MHRA approval received for Goa units - I, II & III
  • 2011: Pharmexcil CERTIFICATE OF APPRECIATION PATENT AWARD 2010-2011, in recognition of commendable contribution in Bulk Drugs Category
  • 2012: UK-MHRA renewal received for Goa Plants - I, II & III
  • 2012: US-FDA renewal received for Waluj
  • 2012: Pharmexcil CERTIFICATE OF APPRECIATION PATENT AWARD 2011-2012, in recognition of commendable contribution in Bulk Drugs Category
  • 2013: UK-MHRA renewal received for Waluj
  • 2013: US-FDA renewal received for Roha
  • 2013: IDMA Margi Memorial Best Patent Award for “BEST NEW CHEMICAL ENTITY PATENT AWARD 2012-13”
  • 2013: Pharmexcil Patent Award “NEW CHEMICAL ENTITIES (NCEs) – SILVER AWARD 2012-2013”
  • 2014: US-FDA renewal received for Waluj
  • 2014: PICS approval received for Waluj
  • 2016: US-FDA approval received for Baddi
  • 2016: Pharmexcil Patent Award “NEW CHEMICAL ENTITIES (NCEs) – SILVER AWARD 2015-2016”.
  • 2017-18: The company has launched the Enerzal 500 ml in pet bottle as well as 1 Litre in Tetrapak with Orange and Apple flavor.
  • 2018-19: The company received the Abbreviated New Drug Application (ANDA) Approval for Dorzolamide 2% Ophthalmic Solution 5 ml & 10 ml.
  • 2019-20: FDC receives GMP certificate from UK MHRA for Goa unit.
  • 2020: FDC has launched new strength variants of its Favipiravir brands - PiFLU and Favenza, used to treat mild to moderate cases of COVID-19 in India.
  • 2020: FDC inks pact to acquire additional stake in FDC SA.
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