{"id":264122,"date":"2026-09-23T12:12:39","date_gmt":"2026-09-23T06:42:39","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=264122"},"modified":"2026-09-23T12:12:39","modified_gmt":"2026-09-23T06:42:39","slug":"this-mineral-excipients-stock-rises-99-percent-in-6-months","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/","title":{"rendered":"This Mineral Excipients Stock Rises 99% in 6 Months: What Doubled It"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Sudeep Pharma rose approximately 99% in six months, from Rs 597.40 on 23 March 2026 to around Rs 1,188 on 23 September 2026, with FY26 profit of Rs 174.3 crore, up 25.6%.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">This mineral excipients stock gained approximately 99% in the six months to 23 September 2026, moving from Rs 597.40 to around Rs 1,188 with no split or bonus in between. The base was depressed, since the shares were barely above their Rs 593 issue price in March 2026 after a weak post-listing run. FY26 revenue rose 27.9% to approximately Rs 642.3 crore and June 2026 quarter profit rose 30%, while a Rs 300 crore battery grade iron phosphate plant added a second growth story. At approximately 73.7 times trailing earnings, much of that expansion is already in the price.<\/p>\n<\/div>\n<p>This mineral excipients stock has risen approximately 99% in the six months to 23 September 2026, from a close of Rs 597.40 on 23 March 2026 to around Rs 1,188. A near doubling in one half-year is not what a slow compounding ingredients business usually delivers.<\/p>\n<p>The company is <strong><a href='https:\/\/univest.in\/stocks\/sudeepphrm\/sudeep-pharma-ltd-share-price-today'>Sudeep Pharma Ltd<\/a><\/strong> (NSE: SUDEEPPHRM), a Vadodara based maker of mineral based excipients, fortifying agents and speciality ingredients, listed on 28 November 2025. The Sudeep Pharma share price closed its debut at Rs 774.15, slid to Rs 524.05 by mid-January 2026, and has since more than doubled.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href='https:\/\/univest.in\/user\/log-in'>Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Mineral_Excipients_Stock_Returns_The_Six-Month_Numbers\" title=\"Mineral Excipients Stock Returns: The Six-Month Numbers\">Mineral Excipients Stock Returns: The Six-Month Numbers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Why_Did_This_Mineral_Excipients_Stock_Rise_99_in_Six_Months\" title=\"Why Did This Mineral Excipients Stock Rise 99% in Six Months?\">Why Did This Mineral Excipients Stock Rise 99% in Six Months?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#21_May_2026_FY26_Results_and_a_Rs_300_Crore_Battery_Plan\" title=\"21 May 2026: FY26 Results and a Rs 300 Crore Battery Plan\">21 May 2026: FY26 Results and a Rs 300 Crore Battery Plan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#5_August_2026_Q1_Profit_Up_30_on_Volume_Led_Growth\" title=\"5 August 2026: Q1 Profit Up 30% on Volume Led Growth\">5 August 2026: Q1 Profit Up 30% on Volume Led Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#August_2026_The_Re-Rating_Leg_in_This_Mineral_Excipients_Stock\" title=\"August 2026: The Re-Rating Leg in This Mineral Excipients Stock\">August 2026: The Re-Rating Leg in This Mineral Excipients Stock<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#What_This_Mineral_Excipients_Stock_Actually_Makes\" title=\"What This Mineral Excipients Stock Actually Makes\">What This Mineral Excipients Stock Actually Makes<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Regulated_Market_Customers_Behind_the_Mineral_Excipients_Stock\" title=\"Regulated Market Customers Behind the Mineral Excipients Stock\">Regulated Market Customers Behind the Mineral Excipients Stock<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#The_Financial_Record_Behind_This_Mineral_Excipients_Stock\" title=\"The Financial Record Behind This Mineral Excipients Stock\">The Financial Record Behind This Mineral Excipients Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Capacity_Expansion_and_the_Mineral_Excipients_Stock\" title=\"Capacity Expansion and the Mineral Excipients Stock\">Capacity Expansion and the Mineral Excipients Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Shareholding_in_This_Mineral_Excipients_Stock\" title=\"Shareholding in This Mineral Excipients Stock\">Shareholding in This Mineral Excipients Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Risks_in_This_Mineral_Excipients_Stock\" title=\"Risks in This Mineral Excipients Stock\">Risks in This Mineral Excipients Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Sudeep_Pharma_Share_Analyst_View\" title=\"Sudeep Pharma Share: Analyst View\">Sudeep Pharma Share: Analyst View<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Sudeep_Pharma_Share_Price_Target\" title=\"Sudeep Pharma Share Price Target\">Sudeep Pharma Share Price Target<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Other_Stocks_to_Track_From_the_Same_Return_Screen\" title=\"Other Stocks to Track From the Same Return Screen\">Other Stocks to Track From the Same Return Screen<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#What_is_the_six-month_return_on_this_mineral_excipients_stock\" title=\"What is the six-month return on this mineral excipients stock?\">What is the six-month return on this mineral excipients stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Why_has_the_Sudeep_Pharma_share_price_risen_so_sharply_since_March_2026\" title=\"Why has the Sudeep Pharma share price risen so sharply since March 2026?\">Why has the Sudeep Pharma share price risen so sharply since March 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Is_there_a_verified_Sudeep_Pharma_share_price_target\" title=\"Is there a verified Sudeep Pharma share price target?\">Is there a verified Sudeep Pharma share price target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#What_does_Sudeep_Pharma_manufacture\" title=\"What does Sudeep Pharma manufacture?\">What does Sudeep Pharma manufacture?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#How_concentrated_is_the_customer_base_in_this_mineral_excipients_stock\" title=\"How concentrated is the customer base in this mineral excipients stock?\">How concentrated is the customer base in this mineral excipients stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#When_will_the_new_capacity_start_contributing_to_earnings\" title=\"When will the new capacity start contributing to earnings?\">When will the new capacity start contributing to earnings?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#Is_this_mineral_excipients_stock_expensive_at_the_current_price\" title=\"Is this mineral excipients stock expensive at the current price?\">Is this mineral excipients stock expensive at the current price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/this-mineral-excipients-stock-rises-99-percent-in-6-months\/#What_are_the_main_risks_in_this_mineral_excipients_stock\" title=\"What are the main risks in this mineral excipients stock?\">What are the main risks in this mineral excipients stock?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Mineral_Excipients_Stock_Returns_The_Six-Month_Numbers\"><\/span><strong>Mineral Excipients Stock Returns: The Six-Month Numbers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The rise in this mineral excipients stock is genuine price appreciation. There has been no split, bonus or rights issue since listing and the face value remains Rs 1.<\/p>\n<p>Part of the answer is the base. On 23 March 2026 this mineral excipients stock traded roughly 23% below its listing-day close and only about 1% above its Rs 593 issue price.<\/p>\n<p>Here is how the mineral excipients stock has performed across windows verified from daily closes. One-year, three-year and five-year returns do not exist, because the company has been listed under ten months.<\/p>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Base date and close (Rs)<\/th>\n<th>Price on 23 Sep 2026 (Rs)<\/th>\n<th>Return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>6 months<\/td>\n<td>23 Mar 2026, 597.40<\/td>\n<td>1,187.90<\/td>\n<td>+99%<\/td>\n<\/tr>\n<tr>\n<td>1 month<\/td>\n<td>21 Aug 2026, 1,111.80<\/td>\n<td>1,187.90<\/td>\n<td>+6.8%<\/td>\n<\/tr>\n<tr>\n<td>Since listing close<\/td>\n<td>28 Nov 2025, 774.15<\/td>\n<td>1,187.90<\/td>\n<td>+53%<\/td>\n<\/tr>\n<tr>\n<td>Since IPO price<\/td>\n<td>593.00<\/td>\n<td>1,187.90<\/td>\n<td>+100%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The 23 August base fell on a Sunday, so the 21 August close is used. Almost the entire gain in this mineral excipients stock was made between late May and early September 2026.<\/p>\n<p>The 52-week range runs from Rs 524.05 in mid-January 2026 to Rs 1,378 in the week of 7 September. At Rs 1,188 the mineral excipients stock sits roughly 14% below that high, carries a 5% daily price band, and locked at the upper circuit on 22 September 2026 at Rs 1,197.10.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Did_This_Mineral_Excipients_Stock_Rise_99_in_Six_Months\"><\/span><strong>Why Did This Mineral Excipients Stock Rise 99% in Six Months?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Two sets of results beat what the market had priced in after a weak debut, and a battery materials plan moved from prospectus slide to purchase orders. Three dated events carry the move.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"21_May_2026_FY26_Results_and_a_Rs_300_Crore_Battery_Plan\"><\/span><strong>21 May 2026: FY26 Results and a Rs 300 Crore Battery Plan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>FY26 results were approved on 21 May 2026. Revenue from operations was approximately Rs 642.3 crore, up 27.9%, with EBITDA of approximately Rs 221.9 crore and net profit of approximately Rs 174.3 crore, up 25.6%.<\/p>\n<p>The company also confirmed that phase one of its Rs 300 crore Dahej plant, 25,000 tonnes a year of battery grade iron phosphate, was on track for April 2027, with roughly 700 tonnes of orders already booked. This mineral excipients stock closed the following week at Rs 658 and climbed for three months.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_August_2026_Q1_Profit_Up_30_on_Volume_Led_Growth\"><\/span><strong>5 August 2026: Q1 Profit Up 30% on Volume Led Growth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>June 2026 quarter results landed around 5 August 2026. Revenue from operations was approximately Rs 158.3 crore, up 27%, EBITDA approximately Rs 54.9 crore, and net profit approximately Rs 40.6 crore, up 30%. EBITDA margin held near 34.7%.<\/p>\n<p>Growth was predominantly volume led in the pharma, food and nutrition segment, which delivered approximately Rs 108.4 crore and about 82% of segment profit. Speciality ingredients contributed approximately Rs 49.9 crore at around 26% margins, held back by gas supply constraints.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"August_2026_The_Re-Rating_Leg_in_This_Mineral_Excipients_Stock\"><\/span><strong>August 2026: The Re-Rating Leg in This Mineral Excipients Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The sharpest move followed. This mineral excipients stock went from a close of Rs 881.05 in the week of 27 July 2026 to Rs 1,329.30 in the week of 31 August, roughly 51% in five weeks, then set the Rs 1,378 high.<\/p>\n<p>Shareholders cleared the stock option scheme and the FY26 accounts at the annual general meeting on 4 August 2026, removing the last overhang from the listing. The battery story firmed up alongside it, with 42 engaged global customers, 28 product approvals and six memoranda of understanding disclosed.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href='https:\/\/univest.in\/screeners'>Check the Univest Screener for Live Fundamentals of High-Return Stocks<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_This_Mineral_Excipients_Stock_Actually_Makes\"><\/span><strong>What This Mineral Excipients Stock Actually Makes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Excipients are the inactive ingredients that carry an active drug: binders, fillers, disintegrants and coatings. This mineral excipients stock sits at the mineral end of that shelf, making calcium, magnesium, iron, zinc and phosphate salts.<\/p>\n<p>The portfolio runs to more than 100 products in over 100 countries, with above 1,100 customers including 14 Fortune 500 names. Buyers named in the offer documents include Pfizer, Merck, Danone, Intas and Mankind. No comparable listed peer exists in India, part of why this mineral excipients stock carries a scarcity premium.<\/p>\n<p>The second leg is speciality ingredients: the same minerals reworked as bisglycinates, gluconates and citrates so they absorb better or stay stable longer. That segment was roughly 41% of December 2025 quarter revenue and carries the higher realisations.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Regulated_Market_Customers_Behind_the_Mineral_Excipients_Stock\"><\/span><strong>Regulated Market Customers Behind the Mineral Excipients Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Regulated market approvals are the moat, and they are slow to build. The company holds around 35 global accreditations, including United States Food and Drug Administration registrations, WHO-GMP, EXCiPACT, FSSC, ISO and HACCP, plus roughly ten product specific approvals.<\/p>\n<p>It also holds a European pharmacopoeia certificate of suitability for calcium carbonate, which few producers outside Europe carry, and in March 2024 became the first Indian company cleared by the United States regulator for mineral based food ingredients.<\/p>\n<p>Those qualifications let this mineral excipients stock sell into American and European formulators rather than only price-driven markets. The top five customers average roughly seven years of association, so business is sticky.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Financial_Record_Behind_This_Mineral_Excipients_Stock\"><\/span><strong>The Financial Record Behind This Mineral Excipients Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Earnings in this mineral excipients stock have compounded rather than spiked, which is why the price move deserves scrutiny.<\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Total income (Rs Cr)<\/th>\n<th>EBITDA (Rs Cr)<\/th>\n<th>Net profit (Rs Cr)<\/th>\n<th>Net margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Jun 2025<\/td>\n<td>130.08<\/td>\n<td>49.03<\/td>\n<td>31.27<\/td>\n<td>24.66%<\/td>\n<\/tr>\n<tr>\n<td>Sep 2025<\/td>\n<td>172.84<\/td>\n<td>65.63<\/td>\n<td>46.78<\/td>\n<td>28.12%<\/td>\n<\/tr>\n<tr>\n<td>Dec 2025<\/td>\n<td>179.18<\/td>\n<td>66.81<\/td>\n<td>47.70<\/td>\n<td>27.54%<\/td>\n<\/tr>\n<tr>\n<td>Mar 2026<\/td>\n<td>188.76<\/td>\n<td>69.02<\/td>\n<td>48.54<\/td>\n<td>26.81%<\/td>\n<\/tr>\n<tr>\n<td>Jun 2026<\/td>\n<td>163.72<\/td>\n<td>60.36<\/td>\n<td>40.59<\/td>\n<td>25.62%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Note the sequential dip. Total income fell from Rs 188.76 crore to Rs 163.72 crore and net margin slipped for a third straight quarter, from 28.12% to 25.62%. Margin direction is the number to watch in this mineral excipients stock.<\/p>\n<p>FY26 total income was approximately Rs 670.84 crore against Rs 511.33 crore in FY25, with net profit of approximately Rs 174.28 crore against Rs 138.73 crore. Compounded five-year sales growth is around 24% and profit growth around 39%.<\/p>\n<p>The balance sheet is conservative. Total equity rose to approximately Rs 898 crore at March 2026 from Rs 493 crore, helped by the Rs 895 crore issue, and debt to equity is approximately 0.17. Working capital stood at 213 days against guidance of 150 to 160 days.<\/p>\n<p>Valuation is where this mineral excipients stock gets uncomfortable. Market capitalisation is approximately Rs 13,541 crore, the trailing price to earnings ratio approximately 73.7 against an industry figure near 37.1, and price to book approximately 15.3.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Capacity_Expansion_and_the_Mineral_Excipients_Stock\"><\/span><strong>Capacity Expansion and the Mineral Excipients Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Almost every rupee of the re-rating rests on capacity that does not yet exist. As of June 2025 this mineral excipients stock had approximately 72,246 tonnes of annual capacity across four plants, three around Vadodara and one in Ireland acquired in May 2025.<\/p>\n<p>Two projects change that. A greenfield plant at Nandesari adds 51,200 tonnes for roughly Rs 150 crore, contributing from the December 2026 quarter at about a third utilisation in FY28. Dahej adds 25,000 tonnes of iron phosphate from around April 2027.<\/p>\n<p>Management has guided total capacity from roughly 73,500 tonnes in FY26 to about 223,700 tonnes by FY30. Phosphate demand already exceeds installed capacity, the strongest argument for this mineral excipients stock. The weakness is timing, because none of it earns revenue this year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Shareholding_in_This_Mineral_Excipients_Stock\"><\/span><strong>Shareholding in This Mineral Excipients Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ownership in this mineral excipients stock has barely moved since listing, which is unusual for a share that has doubled.<\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Promoters<\/th>\n<th>FII<\/th>\n<th>DII<\/th>\n<th>Public<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nov 2025<\/td>\n<td>76.15%<\/td>\n<td>1.54%<\/td>\n<td>14.76%<\/td>\n<td>7.54%<\/td>\n<\/tr>\n<tr>\n<td>Dec 2025<\/td>\n<td>76.15%<\/td>\n<td>1.67%<\/td>\n<td>17.60%<\/td>\n<td>4.58%<\/td>\n<\/tr>\n<tr>\n<td>Mar 2026<\/td>\n<td>76.15%<\/td>\n<td>1.55%<\/td>\n<td>18.11%<\/td>\n<td>4.18%<\/td>\n<\/tr>\n<tr>\n<td>Jun 2026<\/td>\n<td>76.15%<\/td>\n<td>1.81%<\/td>\n<td>15.65%<\/td>\n<td>6.39%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Promoter holding has been unchanged at 76.15% in every filing, so the free float is under a quarter of the equity. Domestic institutions peaked at 18.11% in March 2026 and trimmed to 15.65% by June, the first profit taking in this mineral excipients stock.<\/p>\n<p>Named holders are concentrated too. Three crossover funds from one domestic manager hold approximately 7.66% between them.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_in_This_Mineral_Excipients_Stock\"><\/span><strong>Risks in This Mineral Excipients Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Customer concentration is the most specific risk. The largest single customer accounted for approximately 14.58% of revenue in the June 2025 quarter. One requalification decision can move a full quarter for this mineral excipients stock.<\/p>\n<p>Valuation leaves no room for a stumble. A multiple near 73.7 times prices in both new plants as though they land on time. Dahej is a first venture outside the core chemistry, into a chain dominated by Chinese producers, and 700 tonnes of orders is trivial against 25,000 tonnes of capacity.<\/p>\n<p>Margin direction is turning. Net margin has fallen for three consecutive quarters and speciality ingredients ran near 26% in the June 2026 quarter against a stated ambition of 37% to 38%. The Irish subsidiary faces its own headwinds.<\/p>\n<p>Liquidity and volatility are real constraints on this mineral excipients stock. With promoters at 76.15% the float is small, the 5% price band binds often, and on 22 September 2026 the shares locked at the upper circuit while delivery volumes ran roughly 71% below the five-day average.<\/p>\n<p>Governance and cash flow deserve watching in a recent listing. A quarter of public institutional votes, 25.39%, went against the 2025 stock option scheme on 4 August 2026, and on 22 September 2026 the company withdrew an analyst plant visit set for the following two days. FY26 capital expenditure of roughly Rs 118 crore against operating cash flow of Rs 69.55 crore means the expansion is not self-funding.<\/p>\n<p style=\"margin-top:24px;\"><strong>Download the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the Sudeep Pharma share price live<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sudeep_Pharma_Share_Analyst_View\"><\/span><strong>Sudeep Pharma Share: Analyst View<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Formal coverage of this mineral excipients stock is thin, typical ten months after listing. The pre-IPO notes from four domestic brokerages in November 2025 carried subscription views rather than price targets.<\/p>\n<p>What coverage exists is cautious. A publicly compiled consensus of only two analysts carries a neutral stance, one hold and one sell, with no buy recommendation. That reflects the multiple on this mineral excipients stock rather than the quality of the business.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Sudeep_Pharma_Share_Price_Target\"><\/span><strong>Sudeep Pharma Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The average Sudeep Pharma share price target in that two-analyst consensus is approximately Rs 777.50, with a high of Rs 855 and a low of Rs 700. All three sit below the market price of this mineral excipients stock.<\/p>\n<p>Treat that range with care. It rests on a very small sample and appears to predate the June 2026 quarter and the August re-rating, so it is stale rather than wrong. No freshly dated Sudeep Pharma share price target exists at present.<\/p>\n<p>Without current research the levels that matter are the chart&#8217;s own. The Rs 1,378 high is the nearest resistance and the Rs 1,111.80 close of 21 August 2026 has acted as support.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Stocks_to_Track_From_the_Same_Return_Screen\"><\/span><strong>Other Stocks to Track From the Same Return Screen<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond this mineral excipients stock, a screen of NSE small-cap stocks ranked by recent returns also includes related names such as <a href=\"https:\/\/univest.in\/stocks\/schneider\/schneider-electric-infrastructure-ltd-share-price-today\">Schneider Electric Infrastructure<\/a> with a 1-year return of 31.80%, <a href=\"https:\/\/univest.in\/stocks\/varroc\/varroc-engineering-ltd-share-price-today\">Varroc<\/a> at 31.78% and <a href=\"https:\/\/univest.in\/stocks\/balramchin\/balrampur-chini-mills-ltd-share-price-today\">Balrampur Chini<\/a> at 31.64%.<\/p>\n<p>Among the names covered from that screen, <a href=\"https:\/\/univest.in\/stocks\/mtartech\/mtar-technologies-ltd-share-price-today\">MTAR Technologies<\/a> returned 396.53% over one year. Readers can compare this mineral excipients stock with the <a href=\"https:\/\/univest.in\/indices\/nifty-50\/nifty-50-share-price-today\">Nifty 50<\/a> benchmark and track each of these names on Univest before making any decision.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A 99% six-month gain in this mineral excipients stock is part earnings and part re-rating, and the split matters. Profit grew around 26% in FY26 and 30% in the June 2026 quarter, solid but nowhere near a doubling. The rest came from a higher multiple.<\/p>\n<p>The Sudeep Pharma share price is no longer recovering from a depressed base. It cleared the issue price in May 2026 and has spent four months in genuine price discovery. December quarter results should show the first Nandesari contribution. Until then this mineral excipients stock is a claim on capacity still being built, and investors should consult a registered adviser.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. 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).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_six-month_return_on_this_mineral_excipients_stock\"><\/span><strong>What is the six-month return on this mineral excipients stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Approximately 99%, from Rs 597.40 on 23 March 2026 to around Rs 1,188 on 23 September 2026, with no split or bonus in that window. A one-year figure does not exist because the company listed on 28 November 2025.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_has_the_Sudeep_Pharma_share_price_risen_so_sharply_since_March_2026\"><\/span><strong>Why has the Sudeep Pharma share price risen so sharply since March 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Two earnings reports and a new business line did most of the work. FY26 results on 21 May 2026 showed revenue up 27.9% and profit up 25.6%, June quarter profit rose 30%, and a Rs 300 crore battery grade iron phosphate plant moved from plan to booked orders.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_there_a_verified_Sudeep_Pharma_share_price_target\"><\/span><strong>Is there a verified Sudeep Pharma share price target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Only a thin one. A publicly compiled consensus of two analysts averages approximately Rs 777.50, with a high of Rs 855 and a low of Rs 700, all below the current price of this mineral excipients stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Sudeep_Pharma_manufacture\"><\/span><strong>What does Sudeep Pharma manufacture?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Mineral based pharmaceutical excipients, fortifying agents and speciality ingredients built from calcium, magnesium, iron, zinc, sodium and phosphate chemistry. The portfolio runs to more than 100 products sold in over 100 countries.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_concentrated_is_the_customer_base_in_this_mineral_excipients_stock\"><\/span><strong>How concentrated is the customer base in this mineral excipients stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Concentrated enough to be a disclosed risk factor. The largest customer accounted for approximately 14.58% of revenue in the June 2025 quarter, though the list exceeds 1,100 customers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_will_the_new_capacity_start_contributing_to_earnings\"><\/span><strong>When will the new capacity start contributing to earnings?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Nandesari plant, adding 51,200 tonnes for around Rs 150 crore, is expected to contribute from the December 2026 quarter and run near one third utilisation in FY28. The Dahej battery plant is targeted for April 2027.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_mineral_excipients_stock_expensive_at_the_current_price\"><\/span><strong>Is this mineral excipients stock expensive at the current price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> On reported numbers it is demanding. The trailing price to earnings ratio is approximately 73.7 against an industry figure near 37.1, and price to book is approximately 15.3 on a book value of Rs 78.21.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_in_this_mineral_excipients_stock\"><\/span><strong>What are the main risks in this mineral excipients stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Customer concentration, a demanding valuation, three straight quarters of falling net margin and small-cap liquidity. Promoters hold 76.15%, the float is thin and the shares carry a 5% daily price band.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the six-month return on this mineral excipients stock?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Approximately 99%, from Rs 597.40 on 23 March 2026 to around Rs 1,188 on 23 September 2026, with no split or bonus in that window. A one-year figure does not exist because the company listed on 28 November 2025.\"}},{\"@type\":\"Question\",\"name\":\"Why has the Sudeep Pharma share price risen so sharply since March 2026?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Two earnings reports and a new business line did most of the work. 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The portfolio runs to more than 100 products sold in over 100 countries.\"}},{\"@type\":\"Question\",\"name\":\"How concentrated is the customer base in this mineral excipients stock?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Concentrated enough to be a disclosed risk factor. The largest customer accounted for approximately 14.58% of revenue in the June 2025 quarter, though the list exceeds 1,100 customers.\"}},{\"@type\":\"Question\",\"name\":\"When will the new capacity start contributing to earnings?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Nandesari plant, adding 51,200 tonnes for around Rs 150 crore, is expected to contribute from the December 2026 quarter and run near one third utilisation in FY28. The Dahej battery plant is targeted for April 2027.\"}},{\"@type\":\"Question\",\"name\":\"Is this mineral excipients stock expensive at the current price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"On reported numbers it is demanding. The trailing price to earnings ratio is approximately 73.7 against an industry figure near 37.1, and price to book is approximately 15.3 on a book value of Rs 78.21.\"}},{\"@type\":\"Question\",\"name\":\"What are the main risks in this mineral excipients stock?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Customer concentration, a demanding valuation, three straight quarters of falling net margin and small-cap liquidity. Promoters hold 76.15%, the float is thin and the shares carry a 5% daily price band.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A six-month gain of approximately 99% took a November 2025 listing from barely above its issue price to twice it. Here is what drove it, what it costs, and what still has to be built.<\/p>\n","protected":false},"author":29,"featured_media":264121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[6890,5445,6888,6887,6889,6884,6885,6886],"class_list":["post-264122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-calcium-carbonate-cep","tag-high-return-stocks","tag-mineral-based-excipients","tag-mineral-excipients-stock","tag-speciality-ingredients","tag-sudeep-pharma","tag-sudeep-pharma-share-price","tag-sudeep-pharma-share-price-target"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["264121"],"rank_math_title":["Mineral Excipients Stock Rises 99% in 6 Months: Why"],"rank_math_description":["This mineral excipients stock rises 99% in 6 months on a 30% profit jump, a Rs 300 crore battery plant and new capacity. Financials, shareholding and risks."],"rank_math_focus_keyword":["mineral excipients stock"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/this-mineral-excipients-stock-rises-99-in-6-months-what-doubled-it.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/264122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=264122"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/264122\/revisions"}],"predecessor-version":[{"id":264123,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/264122\/revisions\/264123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/264121"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=264122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=264122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=264122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}