3 Respiratory Generics, Eye Care Brands and Anti-Infective Franchise Stocks With a Strong Future Roadmap: Lupin, Ajanta Pharma and Alkem Laboratories
- October 21, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Lupin, Ajanta Pharma and Alkem Laboratories: ROE of 16.7% to 23.8% and FY22 to FY26 revenue CAGR of 9.1% to 15.0%. Prices as of 20 Oct 2026.
Quick Answer
The three branded pharma stocks to watch are Lupin, Ajanta Pharma and Alkem Laboratories. Their return on equity ranges from 16.7% to 23.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 9.1% to 15.0%. Lupin leads on both return on equity at 23.8% and revenue growth at 15.0% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.
Branded pharma stocks let investors follow companies that earn from medicines doctors prescribe again and again, in India and abroad. Lupin, Ajanta Pharma and Alkem Laboratories show three styles: a global maker with strength in respiratory and complex generics, a specialty company focused on eye care and skin care, and a domestic leader in anti-infectives and gastro-intestinal medicines.
This list covers three branded pharma stocks with complete current figures: Lupin, Ajanta Pharma and Alkem Laboratories. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.
Click Here – Get Free Investment Predictions
What Are Branded Pharma Stocks?
Branded pharma stocks are listed drug makers that sell medicines under their own names and build sales through doctor relationships and large field forces. Their results depend on prescription growth, new launches and the mix between domestic and export business.
Branded Pharma Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Lupin | 1,939.2 | 89,343 | 16.1 | 36.0 | 23.8 | 0.29 |
| Ajanta Pharma | 3,298.9 | 41,241 | 36.3 | 36.0 | 23.3 | 0.06 |
| Alkem Laboratories | 5,004 | 59,723 | 27.1 | 36.0 | 16.7 | 0.15 |
On valuation, Lupin and Alkem Laboratories trade at a P/E below the industry P/E, while Ajanta Pharma trades above it, which reflects the growth the market already expects. Readers comparing branded pharma stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in branded pharma stocks can use the coming numbers to test whether growth is holding.
Why Do Branded Pharma Stocks Have a Strong Roadmap in India?
Branded pharma stocks have a strong roadmap in India because spending on medicines is rising with income, insurance cover and the number of people living with long-term conditions.
- Rising healthcare spending. More families buy prescribed medicines as incomes and insurance cover rise.
- Specialty launches. New products in inhalation, ophthalmology and chronic care carry better revenue per prescription.
- Export reach. Sales in the United States and emerging markets add growth beyond India.
Why Lupin Features Among These Branded Pharma Stocks
Among the branded pharma stocks on this list, Lupin is a Mumbai-headquartered global pharmaceutical company with a presence in branded generics in India, complex generics and specialty products in the United States, and active ingredients, with strength in respiratory, cardiovascular, anti-diabetic and anti-infective therapies.
Revenue rose from Rs 16,616 crore in FY22 to Rs 29,039 crore in FY26, a compound annual growth rate of 15.0%. Net profit grew from Rs 1,936 crore in FY24 to Rs 5,355 crore in FY26, which works out to a compound annual growth rate of 66.3%.
In the June 2026 quarter, revenue grew 32.5% year on year to Rs 8,407 crore, while net profit rose 16.0% to Rs 1,417 crore. The company has a return on equity of 23.8%, a debt to equity ratio of 0.29 and a market capitalisation of Rs 89,343 crore. The stock trades at a P/E of 16.1, below the industry P/E of 36.0.
Roadmap: The company is building its pipeline of complex generics, inhalation products and biosimilars, and is widening its specialty portfolio in the United States. Its large Indian branded business and a presence in over 100 markets spread revenue across regions and therapies.
What to watch: Track key launches in the United States, especially in inhalation and complex injectables, and the growth of the India branded business.
Why Ajanta Pharma Features Among These Branded Pharma Stocks
Among the large pharma shares on this list, Ajanta Pharma is a specialty pharmaceutical company that sells branded generics in India and in emerging markets across Asia and Africa, with a focus on ophthalmology, dermatology, cardiology and pain management, and also sells generics in the United States.
In the June 2026 quarter, revenue grew 27.7% year on year to Rs 1,697 crore, while net profit rose 30.9% to Rs 334 crore. Revenue rose from Rs 3,457 crore in FY22 to Rs 5,625 crore in FY26, a compound annual growth rate of 12.9%.
Net profit grew from Rs 713 crore in FY22 to Rs 1,056 crore in FY26, which works out to a compound annual growth rate of 10.3%. The company has a return on equity of 23.3%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 41,241 crore. The stock trades at a P/E of 36.3, above the industry P/E of 36.0.
Roadmap: The company concentrates on niche therapies where it holds leading positions and has a wide field force in India and Africa. A steady flow of new launches and a debt-free balance sheet support expansion in branded markets.
What to watch: Monitor the pace of new launches in branded markets and the recovery trends in the United States generics business.
Why Alkem Laboratories Features Among These Branded Pharma Stocks
Among the three companies on this list, Alkem Laboratories is a Mumbai-based pharmaceutical company with a leading domestic franchise in anti-infectives, gastro-intestinal, pain and vitamins, along with exports of generics and a contract manufacturing and active ingredient business.
The company has a return on equity of 16.7%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 59,723 crore. The stock trades at a P/E of 27.1, below the industry P/E of 36.0.
Revenue rose from Rs 10,797 crore in FY22 to Rs 15,296 crore in FY26, a compound annual growth rate of 9.1%. Net profit grew from Rs 1,680 crore in FY22 to Rs 2,353 crore in FY26, which works out to a compound annual growth rate of 8.8%. In the June 2026 quarter, revenue grew 11.0% year on year to Rs 3,893 crore.
Roadmap: Alkem’s strong domestic brands and wide medical representative network support steady growth, while its international business adds regulated market exposure. The company is also building its chronic and specialty portfolio and its biosimilars pipeline.
What to watch: Check the growth in chronic therapies in India and the contribution from the international and contract manufacturing businesses.
Lupin vs Ajanta Pharma vs Alkem Laboratories on Key Financials
The table below sets the three branded pharma stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Lupin | 16,616 | 29,039 | 15.0% | 5,355 | 18.4% |
| Ajanta Pharma | 3,457 | 5,625 | 12.9% | 1,056 | 18.8% |
| Alkem Laboratories | 10,797 | 15,296 | 9.1% | 2,353 | 15.4% |
Lupin posts the highest return on equity in this group at 23.8%. Lupin combines the largest FY26 revenue at Rs 29,039 crore with the fastest revenue growth, a 15.0% compound annual rate. A useful habit with branded pharma stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Lupin | 6,347 | 8,407 | 32.5% |
| Ajanta Pharma | 1,329 | 1,697 | 27.7% |
| Alkem Laboratories | 3,508 | 3,893 | 11.0% |
Key Risks to Check Before Investing in Branded Pharma Stocks
Every theme carries risks that deserve a check before any decision. For these branded pharma stocks, the main points are: Long-term large pharma shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Launch timing. Revenue from new products depends on approval dates and the pace of uptake.
- Price controls. Government limits on essential medicine prices can affect domestic margins.
- Regulatory inspections. Plant audits in regulated markets can influence supply and approvals.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter branded pharma stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Branded Pharma Stocks
Branded pharma stocks reward investors who follow launches, prescription trends and export contribution together. Lupin, Ajanta Pharma and Alkem Laboratories each pair a recognised brand base with a clear plan for growth. Based on the 20 October 2026 close, Lupin trades at Rs 1,939.2, Ajanta Pharma at Rs 3,298.9 and Alkem Laboratories at Rs 5,004. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these branded pharma stocks to a watchlist.
Download the Univest iOS App or Univest Android App to track branded pharma stocks, set price alerts and get research-backed stock ideas.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. 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).
What are branded pharma stocks?
Ans. Branded pharma stocks are listed drug makers that sell medicines under their own names and build sales through doctor relationships and large field forces. Their results depend on prescription growth, new launches and the mix between domestic and export business. This list looks at three of them, Lupin, Ajanta Pharma and Alkem Laboratories, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.
Which branded pharma stocks are covered in this list?
Ans. This list covers Lupin, Ajanta Pharma and Alkem Laboratories. Based on the 20 October 2026 close, Lupin traded at Rs 1,939.2, Ajanta Pharma at Rs 3,298.9 and Alkem Laboratories at Rs 5,004. Their return on equity ranges from 16.7% to 23.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 9.1% to 15.0%.
Why do branded pharma stocks have a strong future roadmap in India?
Ans. Branded pharma stocks have a strong roadmap in India because spending on medicines is rising with income, insurance cover and the number of people living with long-term conditions. The main drivers are as follows. Rising healthcare spending. More families buy prescribed medicines as incomes and insurance cover rise. Specialty launches. New products in inhalation, ophthalmology and chronic care carry better revenue per prescription. Export reach. Sales in the United States and emerging markets add growth beyond India. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Lupin performed financially?
Ans. Revenue rose from Rs 16,616 crore in FY22 to Rs 29,039 crore in FY26, a compound annual growth rate of 15.0%. Net profit grew from Rs 1,936 crore in FY24 to Rs 5,355 crore in FY26, which works out to a compound annual growth rate of 66.3%. In the June 2026 quarter, revenue grew 32.5% year on year to Rs 8,407 crore, while net profit rose 16.0% to Rs 1,417 crore. The company has a return on equity of 23.8%, a debt to equity ratio of 0.29 and a market capitalisation of Rs 89,343 crore. The stock trades at a P/E of 16.1, below the industry P/E of 36.0. Looking ahead, the company is building its pipeline of complex generics, inhalation products and biosimilars, and is widening its specialty portfolio in the United States. Its large Indian branded business and a presence in over 100 markets spread revenue across regions and therapies.
How has Ajanta Pharma performed financially?
Ans. Revenue rose from Rs 3,457 crore in FY22 to Rs 5,625 crore in FY26, a compound annual growth rate of 12.9%. Net profit grew from Rs 713 crore in FY22 to Rs 1,056 crore in FY26, which works out to a compound annual growth rate of 10.3%. In the June 2026 quarter, revenue grew 27.7% year on year to Rs 1,697 crore, while net profit rose 30.9% to Rs 334 crore. The company has a return on equity of 23.3%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 41,241 crore. The stock trades at a P/E of 36.3, above the industry P/E of 36.0. Looking ahead, the company concentrates on niche therapies where it holds leading positions and has a wide field force in India and Africa. A steady flow of new launches and a debt-free balance sheet support expansion in branded markets.
How has Alkem Laboratories performed financially?
Ans. Revenue rose from Rs 10,797 crore in FY22 to Rs 15,296 crore in FY26, a compound annual growth rate of 9.1%. Net profit grew from Rs 1,680 crore in FY22 to Rs 2,353 crore in FY26, which works out to a compound annual growth rate of 8.8%. In the June 2026 quarter, revenue grew 11.0% year on year to Rs 3,893 crore. The company has a return on equity of 16.7%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 59,723 crore. The stock trades at a P/E of 27.1, below the industry P/E of 36.0. Looking ahead, alkem’s strong domestic brands and wide medical representative network support steady growth, while its international business adds regulated market exposure. The company is also building its chronic and specialty portfolio and its biosimilars pipeline.
What risks should investors check before buying branded pharma stocks?
Ans. Investors should check a few risks before buying branded pharma stocks. Launch timing. Revenue from new products depends on approval dates and the pace of uptake. Price controls. Government limits on essential medicine prices can affect domestic margins. Regulatory inspections. Plant audits in regulated markets can influence supply and approvals. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of branded pharma stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.