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Divi's Laboratories Limited (532488) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Divi's Laboratories Limited ₹1,103, price ₹9,294, upside -88.1%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Thin data
Oct 3, 2026
Divi's Laboratories Limited
532488 · BSEStretched ValuationStrong overvaluation with only moderate quality.
!Fair value ₹1,103 · Strongly overvalued (−88.1%)
✓Quality 67/100
!Expensive Growth (revenue 5y +11.7 %/yr)
✓Highly profitable · 28.1% net margin (TTM)
✓Low debt
!0.3% dividend yield · Token dividend
✓Wide moat 88/100
!Evidence only low, so the estimate is less certain
!The models disagree: range ₹528.28 to ₹1,960
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range ₹2,687 – ₹9,613 · fair‑value band ₹528.28 – ₹1,960 · the ₹9,294 price screens above the ₹1,103 fair value. Dashed = 300-day average. As of Oct 3, 2026.
Company profile
Divi's Laboratories Limited manufactures and sells generic active pharmaceutical ingredients (APIs) and intermediates for in the United States, Asia, Europe, and internationally.
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Divi's Laboratories Limited manufactures and sells generic active pharmaceutical ingredients (APIs) and intermediates for in the United States, Asia, Europe, and internationally. The company also undertakes custom synthesis of APIs and intermediates; and supplies a range of carotenoids, as well as markets vitamins to nutritional, pharma, food/beverage, and feed industries. In addition, it exports its products. The company was formerly known as Divi's Research Center and changed its name to Divi's Laboratories Limited in 1994. Divi's Laboratories Limited was founded in 1990 and is headquartered in Hyderabad, India.
Stock analysis
Divi's Laboratories Limited (532488) currently trades at ₹9,294, while our model-based Fair Value estimate is ₹1,103, 88.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,770 per share, and 0 of the 26 models we run sit above the ₹9,294 price.
Bear case: the Growth DCF group reads lowest at ₹183.63, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹528.28 (bear) to ₹1,960 (bull), the price of ₹9,294 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Divi's Laboratories Limited reported revenue of ₹93.6B in FY2025 versus ₹69.7B in FY2021, a compound +7.7%/yr. Reported net income was ₹21.9B in FY2025, compounding +2.5%/yr from FY2021.
Key figures
Market cap ₹820B (≈ $8.5B) · P/E ratio 51.8 · P/S ratio 12.1 · EPS (TTM) ₹66.26 · Dividend yield 0.3% · Net margin 23.4% · Return on equity 22.8% · Return on assets (EBIT) 18.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).
What moves the price
The share trades about 3% below its 52-week high and 63% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −88%, 532488 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹183.63 to ₹2,965). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹528.28
Fair Value ₹1,103
Bull ₹1,960
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹34.26 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
₹105.25
₹197.41
₹360.14
76
Growth DCF
₹103.14
₹183.63
₹318.36
75
Residual Income
₹550.32
₹695.77
₹1,021
75
All 26 models by family
DCF Models
FCF DCF
₹105.25
₹197.41
₹360.14
76
Owner Earnings
₹562.05
₹1,057
₹1,931
73
5Y Revenue Exit
₹536.52
₹1,118
₹1,954
69
5Y EBITDA Exit
₹778.40
₹1,637
₹2,772
72
5Y P/E Exit
₹896.30
₹1,889
₹3,086
68
10Y Revenue Exit
₹363.05
₹862.26
₹1,713
62
10Y EBITDA Exit
₹547.91
₹1,242
₹2,408
64
10Y P/E Exit
₹625.61
₹1,427
₹2,676
60
Earnings-Based
Graham-Dodd
₹561.23
₹2,965
₹4,105
63
Lynch FV
₹815.76
₹1,165
₹1,515
61
PEG = 1.0
₹815.76
₹1,165
₹1,515
57
EPV
₹729.19
₹844.20
₹943.42
74
Dividend Discount
Gordon GGM
₹263.34
₹524.73
₹794.59
67
DDM Multi-Stage
₹263.34
₹453.49
₹553.89
67
Multiples
P/E Multiple
₹1,362
₹1,816
₹2,270
63
P/S Multiple
₹925.53
₹1,234
₹1,543
58
P/B Multiple
₹1,052
₹1,403
₹1,754
55
EV/EBIT
₹1,235
₹1,647
₹2,058
66
EV/EBITDA
₹1,176
₹1,568
₹1,960
67
EV/Revenue
₹741.20
₹1,059
₹1,376
53
Asset-Based
NCAV (Graham)
₹281.93
₹377.79
₹563.87
54
Growth DCF
Growth DCF
₹103.14
₹183.63
₹318.36
75
Rev-Margin DCF
₹536.52
₹1,086
₹1,825
69
Economic Profit
Residual Income
₹550.32
₹695.77
₹1,021
75
ROIC Compounder
₹808.13
₹1,108
₹1,471
71
Growth Earnings
Growth-Adj P/E
₹1,239
₹1,770
₹2,302
67
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Set up alert →Quality Score breakdown
Overall quality
67/100
Of which business quality 62 · Market factors (momentum, volatility) 93
Profitability
63
Margins and returns on capital today
Quality Growth
74
Are margins and returns improving?
Cashflow
27
Earnings quality: real cash, not paper profit
Fin. Strength
80
Balance sheet, leverage, solvency risk
Investment
48
Disciplined investing over empire-building
Low Volatility
90
Calm price path (market factor)
Momentum
96
Price trend over the last 3–12 months (market factor)
52W Momentum
92
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+19.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.7%
Start year 2020 (pandemic). Over 10 years: +11.7% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+10.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.7%
Dividend (yield on the price)0.3%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 28%
532488 screens overvalued: fair value 88% below the price. Compare with Merck KGaA →
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 599 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Merck KGaA MRK | €134.45 | €108.94 | −19% |
| Takeda Pharmaceutical Company TAK | $18.90 | $11.45 | −39% |
| Teva Pharmaceutical Industries Limited TEVA | $39.31 | $20.88 | −47% |
| Sun Pharmaceutical Industries Limited SUNPHARMA | ₹1,852 | ₹1,979 | +7% |
| Galderma Group GALD | CHF 163.00 | CHF 110.32 | −32% |
| Jiangsu Hengrui Pharmaceuticals Co 600276 | ¥44.86 | ¥49.35 | +10% |
| Haleon plc HLN | $9.26 | $8.49 | −8% |
| Sandoz Group SDZ | CHF 71.16 | CHF 40.32 | −43% |
| Zoetis Inc ZTS | $70.30 | $110.50 | +57% |
| Hansoh Pharmaceutical Group 3692 | HK$33.52 | HK$36.87 | +10% |
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Frequently asked questions
Is Divi's Laboratories Limited (532488) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹1,103 versus a price of ₹9,294, about −88% upside (overvalued).
What is the fair value of 532488?
Our model-based fair value for Divi's Laboratories Limited is ₹1,103 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹9,294.
What is the quality score of 532488?
Divi's Laboratories Limited has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Divi's Laboratories Limited (532488)?
Our model-based price target is the fair value of ₹1,103 (as of Oct 3, 2026) from 26 valuation models. Cautious scenario ₹528.28, optimistic scenario ₹1,960. It is a calculation from audited fundamentals, not an analyst target.
What is the Divi's Laboratories Limited stock forecast for 2026?
Our models put fair value at ₹1,103, about −88% upside versus a price of ₹9,294 (overvalued). Cautious scenario ₹528.28, optimistic scenario ₹1,960. The calculation is refreshed regularly with new filings.
What is the revenue of Divi's Laboratories Limited (532488)?
Divi's Laboratories Limited reported trailing-twelve-month revenue of about ₹62.7B (latest available figure, as of Oct 3, 2026).
Does Divi's Laboratories Limited pay a dividend?
Divi's Laboratories Limited currently shows a dividend yield of about 0.34% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Divi's Laboratories Limited (532488)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Divi's Laboratories Limited it is ₹1,103 per share (as of Oct 3, 2026), against a price of ₹9,294. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Divi's Laboratories Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 532488 trades above its calculated fair value: price ₹9,294, fair value ₹1,103, a gap of about −88% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 532488?
No. The price is what the market pays today (₹9,294); the fair value is what the company's own numbers justify (₹1,103). For Divi's Laboratories Limited the two are ₹8,191 per share apart. That gap is exactly why we show both numbers side by side.
How much is Divi's Laboratories Limited worth?
The market values Divi's Laboratories Limited at about ₹820B (market capitalisation, as of Oct 3, 2026). Per share that is ₹9,294; our models calculate a fair value of ₹1,103 per share.
What do the bullish and bearish scenarios say about 532488?
Our models span a range for Divi's Laboratories Limited: cautious scenario ₹528.28, base ₹1,103, optimistic ₹1,960 per share (as of Oct 3, 2026, price ₹9,294). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 532488?
Divi's Laboratories Limited trades at a price-to-earnings ratio of 51.8 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,103 is built from several models across several years. Other multiples: P/B 5.5, P/S 13.1, EV/EBITDA 34.2.
How solid is the balance sheet of Divi's Laboratories Limited (532488)?
Balance-sheet figures for Divi's Laboratories Limited (as of Oct 3, 2026): return on equity 22.8%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 532488 from its 52-week high?
Divi's Laboratories Limited trades at ₹9,294, about 3% below its 52-week high of ₹9,613 and 63% above the low of ₹5,687 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,103 is for.
Which stocks are comparable to Divi's Laboratories Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Divi's Laboratories Limited stock attractive at the current price?
The data as of Oct 3, 2026: price ₹9,294, calculated fair value ₹1,103 (−88%), Quality Score 67/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 532488 calculated?
We run Divi's Laboratories Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,103, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Divi's Laboratories Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Divi's Laboratories Limited (532488)?
The closing price on Oct 1, 2026 was ₹9,294. Our model-based fair value is ₹1,103, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Divi's Laboratories Limited right now?
The price sits above even our optimistic bull case (₹1,960). The favourable scenario is already priced in. The model range is unusually wide (₹528.28 to ₹1,960). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Divi's Laboratories Limited
How large is the market capitalisation of Divi's Laboratories Limited (532488)?
The market capitalisation of Divi's Laboratories Limited is ₹820B (≈ $8.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Divi's Laboratories Limited (532488)?
The price-to-sales ratio of Divi's Laboratories Limited is 12.1 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Divi's Laboratories Limited (532488)?
Earnings per share at Divi's Laboratories Limited are ₹66.26 (price ÷ EPS = P/E 51.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Divi's Laboratories Limited (532488)?
The dividend yield of Divi's Laboratories Limited is 0.3% (payout 48.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Divi's Laboratories Limited (532488)?
The net margin of Divi's Laboratories Limited is 23.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Divi's Laboratories Limited (532488)?
The return on equity (ROE) of Divi's Laboratories Limited is 22.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Divi's Laboratories Limited (532488)?
On an EBIT basis the return on assets of Divi's Laboratories Limited is 18.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Divi's Laboratories Limited (532488)?
The operating margin of Divi's Laboratories Limited is 34.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Divi's Laboratories Limited (532488)?
Revenue at Divi's Laboratories Limited is growing +21.0% versus a year earlier (3y avg +1.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Divi's Laboratories Limited (532488)?
Earnings per share at Divi's Laboratories Limited are growing +45.6% versus a year earlier. How much earnings per share grew versus a year earlier.
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