{"id":315181,"date":"2026-10-19T09:51:36","date_gmt":"2026-10-19T04:21:36","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=315181"},"modified":"2026-10-19T09:51:36","modified_gmt":"2026-10-19T04:21:36","slug":"pharma-growth-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/","title":{"rendered":"3 Top Pharma Growth Stocks to Watch for Future Multibagger Potential: Mankind Pharma, Lupin and Ajanta Pharma"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Mankind Pharma Rs 2,275.50. Lupin Rs 1,961.60. Ajanta Pharma Rs 3,329. Market caps from Rs 41,525 crore to Rs 97,264 crore. Data as of 16 Oct 2026.<\/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;\">Mankind Pharma, Lupin and Ajanta Pharma are the 3 picks in this pharma growth stocks watchlist, with market caps between Rs 41,525 crore and Rs 97,264 crore. Mankind Pharma stands out for the largest market cap at Rs 97,264 crore, while Lupin offers the highest return on equity at 23.76%. PE ratios run from 16.14 to 47.04, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.<\/p>\n<\/p><\/div>\n<p>Pharma growth stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Mankind Pharma, Lupin and Ajanta Pharma meet that test, with market caps from Rs 41,525 crore to Rs 97,264 crore and Mankind Pharma offering the largest market cap at Rs 97,264 crore. Strong export sales, branded generics and a fast-growing domestic market give these pharma companies several growth paths.<\/p>\n<p>This list covers listed pharmaceutical companies with complete, verifiable financials, ranked by market capitalisation. Not every name here is a largecap, so the list takes the leading companies of the sector by market capitalisation. Investors screening pharma growth stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 16 October 2026 and are drawn from NSE and BSE data and company filings.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=pharma-growth-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#What_Are_Pharma_Growth_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Pharma Growth Stocks and Why Do They Attract Multibagger Interest?\">What Are Pharma Growth Stocks and Why Do They Attract Multibagger Interest?<\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#Pharma_Growth_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"Pharma Growth Stocks at a Glance: Price, Market Cap, PE and ROE\">Pharma Growth Stocks at a Glance: Price, Market Cap, PE and ROE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Mankind_Pharma_Quarterly_Profit_Up_2912\" title=\"Mankind Pharma: Quarterly Profit Up 29.12%\">Mankind Pharma: Quarterly Profit Up 29.12%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Lupin_Revenue_Up_2676_in_FY26\" title=\"Lupin: Revenue Up 26.76% in FY26\">Lupin: Revenue Up 26.76% in FY26<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Ajanta_Pharma_Return_on_Equity_of_2333\" title=\"Ajanta Pharma: Return on Equity of 23.33%\">Ajanta Pharma: Return on Equity of 23.33%<\/a><\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#Pharma_Growth_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Pharma Growth Stocks: Financial Comparison on Growth and Margins\">Pharma Growth Stocks: Financial Comparison on Growth and Margins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Mankind_Pharma_Lupin_and_Ajanta_Pharma\" title=\"Institutional Holding in Mankind Pharma, Lupin and Ajanta Pharma\">Institutional Holding in Mankind Pharma, Lupin and Ajanta Pharma<\/a><\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Pharma_Growth_Stocks\" title=\"Risks to Weigh in Pharma Growth Stocks\">Risks to Weigh in Pharma Growth Stocks<\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Pharma_Growth_Stocks\" title=\"How to Choose Between Pharma Growth Stocks\">How to Choose Between Pharma Growth Stocks<\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#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-11\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Pharma_Growth_Stocks_to_Watch\" title=\"Frequently Asked Questions on Pharma Growth Stocks to Watch\">Frequently Asked Questions on Pharma Growth Stocks to Watch<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Which_are_the_best_pharma_growth_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best pharma growth stocks to watch for multibagger potential?\">Which are the best pharma growth stocks to watch for multibagger potential?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Is_Lupin_a_good_stock_for_long-term_investors\" title=\"Is Lupin a good stock for long-term investors?\">Is Lupin a good stock for long-term investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Can_Ajanta_Pharma_become_a_multibagger_from_here\" title=\"Can Ajanta Pharma become a multibagger from here?\">Can Ajanta Pharma become a multibagger from here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Mankind_Pharma_Lupin_and_Ajanta_Pharma\" title=\"What is the market cap of Mankind Pharma, Lupin and Ajanta Pharma?\">What is the market cap of Mankind Pharma, Lupin and Ajanta Pharma?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_pharma_growth_stocks\" title=\"What are the risks of investing in pharma growth stocks?\">What are the risks of investing in pharma growth stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/pharma-growth-stocks-to-watch-multibagger-potential\/#Why_is_Mankind_Pharma_trading_at_a_PE_of_4704\" title=\"Why is Mankind Pharma trading at a PE of 47.04?\">Why is Mankind Pharma trading at a PE of 47.04?<\/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\/pharma-growth-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Mankind_Pharma_Lupin_and_Ajanta_Pharma\" title=\"How much do institutions hold in Mankind Pharma, Lupin and Ajanta Pharma?\">How much do institutions hold in Mankind Pharma, Lupin and Ajanta Pharma?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Pharma_Growth_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Pharma Growth Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pharma growth stocks are shares of drug makers that are growing sales and profits through exports, branded generics and strong brands in India. Earnings depend on new launches, prescription trends and the cost of making and selling medicines.<\/p>\n<p>A growing and ageing population, rising chronic disease and higher health spending support domestic sales, while export markets add scale. Companies with strong brands, healthy margins and steady launches are the ones investors compare in pharma growth stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pharma_Growth_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>Pharma Growth Stocks at a Glance: Price, Market Cap, PE and ROE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are closing prices as of 16 October 2026. Lupin combines the lowest PE of the group, 16.14, with the highest return on equity, 23.76%.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Industry PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Debt to Equity<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">52-Week Range (Rs)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/mankind\/mankind-pharma-ltd-share-price-today\">Mankind Pharma<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,275.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">97,264<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">47.04<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36.42<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.74%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.39<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,909.70 to 2,642.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/lupin\/lupin-ltd-share-price-today\">Lupin<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,961.60<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">89,592<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.14<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36.42<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.29<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,900.00 to 2,529.50<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/ajantpharm\/ajanta-pharma-ltd-share-price-today\">Ajanta Pharma<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,329<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">41,525<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36.59<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36.35<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.33%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.06<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,380.20 to 3,796.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Mankind_Pharma_Quarterly_Profit_Up_2912\"><\/span><strong>Mankind Pharma: Quarterly Profit Up 29.12%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mankind Pharma is one of India&#8217;s largest domestic pharmaceutical companies, with strong brands in acute and chronic therapies and a wide field force. It reported FY26 revenue of Rs 14,636.43 crore, up 14.85% year on year, and net profit of Rs 1,938.10 crore. Net profit has compounded at 7.47% a year since FY22, while revenue has grown 16.38% a year. Operating margin was 27.06% in FY26. The debt-to-equity ratio is 0.39.<\/p>\n<p>In the June 2026 quarter, revenue rose 11.65% to Rs 4,075.59 crore and net profit grew 29.12% to Rs 574.09 crore. Domestic institutions raised their holding from 11.50% in June 2025 to 15.39% in June 2026. The stock trades at a PE of 47.04 against an industry PE of 36.42.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lupin_Revenue_Up_2676_in_FY26\"><\/span><strong>Lupin: Revenue Up 26.76% in FY26<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Lupin is a global pharmaceutical company with a large presence in the United States, India and other markets across generics, branded drugs and respiratory products. It reported FY26 revenue of Rs 29,038.95 crore, up 26.76% year on year, and net profit of Rs 5,355.47 crore, up 61.98%. Revenue has compounded at 14.98% a year since FY22. Operating margin was 31.06% in FY26. The debt-to-equity ratio is 0.29.<\/p>\n<p>The stock trades at a PE of 16.14 against an industry PE of 36.42, below the sector average, with a return on equity of 23.76%. In the June 2026 quarter, revenue rose 32.45% to Rs 8,407.21 crore and net profit grew 16.01% to Rs 1,416.98 crore. The share price has gained 111.00% over five years. Foreign investors raised their holding from 21.25% in June 2025 to 22.42% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ajanta_Pharma_Return_on_Equity_of_2333\"><\/span><strong>Ajanta Pharma: Return on Equity of 23.33%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ajanta Pharma sells branded generics in ophthalmology, dermatology, cardiology and pain management in India, Africa and Asia. It reported FY26 revenue of Rs 5,624.93 crore, up 18.60% year on year, and net profit of Rs 1,056 crore, up 14.73%. Net profit has compounded at 10.33% a year since FY22, while revenue has grown 12.94% a year. Operating margin was 28.74% in FY26. The debt-to-equity ratio is 0.06, which keeps interest costs low.<\/p>\n<p>In the June 2026 quarter, revenue rose 27.68% to Rs 1,696.86 crore and net profit grew 30.89% to Rs 334.22 crore. The share price has gained 125.31% over five years and 35.42% over the past year. Domestic institutions raised their holding from 17.90% in September 2025 to 21.94% in September 2026. The stock trades at a PE of 36.59 against an industry PE of 36.35, with a return on equity of 23.33%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pharma_Growth_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Pharma Growth Stocks: Financial Comparison on Growth and Margins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares scale and growth across these pharma growth stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue Growth (YoY)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Revenue CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Latest Quarter Revenue Growth<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Operating Margin (Latest Quarter)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Mankind Pharma<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14,636.43<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,938.10<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.85%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.38%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.65%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.42%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Lupin<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">29,038.95<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5,355.47<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.98%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">32.45%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">31.40%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Ajanta Pharma<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5,624.93<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,056<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.60%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.94%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.68%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">30.41%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these pharma growth stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Mankind_Pharma_Lupin_and_Ajanta_Pharma\"><\/span><strong>Institutional Holding in Mankind Pharma, Lupin and Ajanta Pharma<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these pharma growth stocks alongside the promoter. The table uses the latest reported quarter for each. Lupin has the deepest institutional backing, with FII and DII together holding 47.07% as of June 2026. Domestic institutions increased their holding over the past year in Mankind Pharma (from 11.50% to 15.39%) and Ajanta Pharma (from 17.90% to 21.94%).<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Promoter<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">FII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">DII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Public<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Quarter<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Mankind Pharma<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">72.63%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.45%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.39%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Lupin<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46.85%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">22.42%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.65%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.08%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Ajanta Pharma<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">63.47%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.63%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.94%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.96%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_Pharma_Growth_Stocks\"><\/span><strong>Risks to Weigh in Pharma Growth Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with pharma growth stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:<\/p>\n<ul>\n<li>Pharma earnings can vary with drug pricing in export markets and regulatory checks.<\/li>\n<li>Raw material and currency movements can influence margins.<\/li>\n<li><strong>Valuation:<\/strong> Mankind Pharma trades at a PE of 47.04 against an industry PE of 36.42, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 3 names puts the allocation in one sector, so size each position to match your risk appetite.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_Between_Pharma_Growth_Stocks\"><\/span><strong>How to Choose Between Pharma Growth Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from pharma growth stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.<\/li>\n<li>Compare each PE with the industry PE (36.35 to 36.42) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track revenue growth, the operating margin and new product launches in every quarterly result.<\/li>\n<li>Stagger entries across quarters and review institutional holding every reporting season.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Mankind Pharma, Lupin and Ajanta Pharma live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among pharma growth stocks, Mankind Pharma stands out for the largest market cap at Rs 97,264 crore, Lupin for the highest return on equity at 23.76% and Ajanta Pharma for the fastest profit growth, 10.33% a year since FY22. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing pharma growth stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.<\/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. 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_Pharma_Growth_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Pharma Growth Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_pharma_growth_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best pharma growth stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Mankind Pharma, Lupin and Ajanta Pharma are the 3 names this list highlights, with market caps of Rs 97,264 crore, Rs 89,592 crore and Rs 41,525 crore respectively. Mankind Pharma is notable for the largest market cap at Rs 97,264 crore. Lupin stands out for the highest return on equity at 23.76%. Ajanta Pharma offers the fastest profit growth, 10.33% a year since FY22. These are watchlist names for pharma growth stocks, not recommendations, so match each one to your own risk profile and time horizon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Lupin_a_good_stock_for_long-term_investors\"><\/span><strong>Is Lupin a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Lupin has a return on equity of 23.76%, a PE of 16.14 against an industry PE of 36.42 and a market cap of Rs 89,592 crore. FY26 revenue rose 26.76%, and June 2026 quarter net profit grew 16.01%. Long-term returns in pharma growth stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_Ajanta_Pharma_become_a_multibagger_from_here\"><\/span><strong>Can Ajanta Pharma become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ajanta Pharma has already gained 125.31% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in pharma growth stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 10.33% a year since FY22, and FY26 revenue rose 18.60%. At a PE of 36.59 against an industry PE of 36.35, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Mankind_Pharma_Lupin_and_Ajanta_Pharma\"><\/span><strong>What is the market cap of Mankind Pharma, Lupin and Ajanta Pharma?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 16 October 2026, Mankind Pharma has a market cap of Rs 97,264 crore, Lupin has a market cap of Rs 89,592 crore and Ajanta Pharma has a market cap of Rs 41,525 crore. Mankind Pharma is the largest of the group. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on pharma growth stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_pharma_growth_stocks\"><\/span><strong>What are the risks of investing in pharma growth stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are price changes in export markets, regulatory inspections of plants and currency swings. Companies with varied products and markets handle these better. Mankind Pharma trades at a PE of 47.04 against an industry PE of 36.42, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Mankind_Pharma_trading_at_a_PE_of_4704\"><\/span><strong>Why is Mankind Pharma trading at a PE of 47.04?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Mankind Pharma&#8217;s PE of 47.04 compares with an industry PE of 36.42. The market is paying a premium for latest-quarter profit growth of 29.12%, which also means the stock is more sensitive if growth slows. Investors in pharma growth stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_Mankind_Pharma_Lupin_and_Ajanta_Pharma\"><\/span><strong>How much do institutions hold in Mankind Pharma, Lupin and Ajanta Pharma?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of the latest reported quarter, FII and DII together hold 24.84% of Mankind Pharma (9.45% and 15.39%), 47.07% of Lupin (22.42% and 24.65%) and 29.57% of Ajanta Pharma (7.63% and 21.94%). Rising institutional holding is a useful signal in pharma growth stocks, though it should be read with earnings trends rather than on its own.<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best pharma growth stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Mankind Pharma, Lupin and Ajanta Pharma are the 3 names this list highlights, with market caps of Rs 97,264 crore, Rs 89,592 crore and Rs 41,525 crore respectively. Mankind Pharma is notable for the largest market cap at Rs 97,264 crore. Lupin stands out for the highest return on equity at 23.76%. Ajanta Pharma offers the fastest profit growth, 10.33% a year since FY22. 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