Natco Pharma vs Ajanta Pharma vs Ipca Laboratories: Which Stock Should You Track
- September 23, 2026
- Posted by: Harsh Piplani
- Category: Market
Natco Pharma PE 12.75, mkt cap Rs 14,597 crore. Ajanta Pharma PE 38.75, mkt cap Rs 43,981 crore. Ipca Laboratories PE 36.76, mkt cap Rs 50,543 crore.
Quick Answer
Natco Pharma vs Ajanta Pharma vs Ipca Laboratories is a side-by-side comparison of three companies from the API and Specialty Pharma space. On this comparison, Natco Pharma carries a market capitalisation of about Rs 14,597 crore against Rs 43,981 crore for Ajanta Pharma and Rs 50,543 crore for Ipca Laboratories, with return on equity of 15.38%, 23.33% and 14.15% respectively. Each company’s numbers are presented here without a declared better pick, since the right stock depends on an investor’s own criteria.
Natco Pharma vs Ajanta Pharma vs Ipca Laboratories starts with the core numbers most investors compare within the API and Specialty Pharma segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of September 2026 and will shift with daily price moves.
All three names sit in the API and Specialty Pharma bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.
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Natco Pharma, Ajanta Pharma and Ipca Laboratories: Company Overview
Natco Pharma is a listed Indian company in the API and Specialty Pharma space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Ajanta Pharma is a listed Indian company in the API and Specialty Pharma space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Ipca Laboratories is a listed Indian company in the API and Specialty Pharma space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.
Natco Pharma vs Ajanta Pharma vs Ipca Laboratories: Valuation and Profitability Snapshot
| Metric | Natco Pharma | Ajanta Pharma | Ipca Laboratories |
|---|---|---|---|
| Market Cap (approx.) | Rs 14,597 crore | Rs 43,981 crore | Rs 50,543 crore |
| PE Ratio (TTM) | 12.75 | 38.75 | 36.76 |
| PB Ratio | 1.58 | 9.72 | 6.27 |
| Return on Equity (ROE) | 15.38% | 23.33% | 14.15% |
| EPS (TTM, Rs) | 63.91 | 90.82 | 54.20 |
| Dividend Yield | 0.61% | 0.80% | 0.30% |
| Debt to Equity | 0.08 | 0.06 | 0.10 |
| Book Value per Share (Rs) | 514.83 | 362.28 | 317.84 |
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On valuation, Natco Pharma trades at a PE of 12.75 and a PB of 1.58, Ajanta Pharma at a PE of 38.75 and a PB of 9.72, while Ipca Laboratories trades at a PE of 36.76 and a PB of 6.27. On return on equity, the three post 15.38%, 23.33% and 14.15% respectively, and on dividend yield they stand at 0.61%, 0.80% and 0.30%.
Natco Pharma vs Ajanta Pharma vs Ipca Laboratories: Latest Quarterly Results
| Company | Latest Quarter Revenue | Latest Quarter Net Profit | YoY Change (Revenue) | QoQ Change (Revenue) |
|---|---|---|---|---|
| Natco Pharma | Rs 794.40 crore | Rs 122.20 crore | -42.9% | -2.8% |
| Ajanta Pharma | Rs 1,696.86 crore | Rs 334.22 crore | +27.7% | +14.4% |
| Ipca Laboratories | Rs 2,813.36 crore | Rs 422.81 crore | +20.2% | +13.3% |
Quarterly figures above are the most recent reported quarter for each company (Q1 FY28, quarter ended June 2026), compared with the year-ago and preceding quarter.
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What Should Investors Look at Beyond These Numbers?
Beyond the metrics above, investors comparing these three api and specialty pharma names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.
Conclusion
Natco Pharma vs Ajanta Pharma vs Ipca Laboratories highlights how differently three companies in the same api and specialty pharma segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information as of September 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Natco Pharma vs Ajanta Pharma vs Ipca Laboratories
What is the market cap difference between Natco Pharma, Ajanta Pharma and Ipca Laboratories?
Ans. As of September 2026, Natco Pharma has a market cap of approximately Rs 14,597 crore, Ajanta Pharma is at approximately Rs 43,981 crore, and Ipca Laboratories is at approximately Rs 50,543 crore.
Which of the three has the highest PE ratio?
Ans. Among Natco Pharma, Ajanta Pharma and Ipca Laboratories, the PE ratios stand at 12.75, 38.75 and 36.76 respectively as of September 2026.
Which of the three has the highest ROE?
Ans. Natco Pharma, Ajanta Pharma and Ipca Laboratories post ROE of 15.38%, 23.33% and 14.15% respectively as of September 2026.
Which of these three stocks pays the highest dividend yield?
Ans. Natco Pharma, Ajanta Pharma and Ipca Laboratories carry dividend yields of 0.61%, 0.80% and 0.30% respectively.
What is the debt to equity ratio for Natco Pharma, Ajanta Pharma and Ipca Laboratories?
Ans. Natco Pharma carries a debt to equity of 0.08, Ajanta Pharma of 0.06, and Ipca Laboratories of 0.10.
Which of the three trades at the highest price to book value?
Ans. Natco Pharma, Ajanta Pharma and Ipca Laboratories trade at price to book ratios of 1.58, 9.72 and 6.27 respectively.
Is one of Natco Pharma, Ajanta Pharma or Ipca Laboratories better than the others?
Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.
