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Natural Capsules Limited (NATCAPSUQ) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Natural Capsules Limited stock ₹142, price ₹139, upside +2.5%, quality 33 out of 100. Rating: fairly valued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare IN

NC Natural Capsules Limited logo Thin data Nov 3, 2026

Natural Capsules Limited

NATCAPSUQ · NSE
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt
Fair value ₹142.29 · Fairly valued (+2.5%)
Expensive Growth (revenue 3y +4.4 %/yr in INR)
Mixed vs. peers (4/10)
Quality 33/100
Loss-making · -8.1% net margin (TTM)
Negative free cash flow
Narrow moat 9/100
Thin data
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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

₹276.93 ₹133.47 Fair Value ₹142.29 Feb 2025 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

21‑month range ₹133.47 – ₹276.93 · fair‑value band ₹106.18 – ₹212.37 · the ₹138.79 price screens below the ₹142.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

Natural Capsules Limited engages in the manufacture and sale of hard gelatin and cellulose capsule shells in India and internationally.

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The company offers bovine spongiform encephalopathy and transmissible spongiform encephalopathy-free gelatin, shiny gelatin, sodium lauryl sulfate-free gelatin, halal-certified gelatin, fast-release gelatin, printed gelatin/cellulose, vegetarian, and enteric capsule shells.

It is also involved in formulating pharmaceutical dosage forms in capsule dosage form. Natural Capsules Limited was incorporated in 1993 and is based in Bengaluru, India.

Stock analysis

Natural Capsules Limited (NATCAPSUQ) currently trades at ₹138.79, while our model-based Fair Value estimate is ₹142.29, so the stock looks roughly fairly valued today (gap 2.5%).

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 91/100, which puts the data coverage at low.

Scenario range: ₹106.18 (bear) to ₹212.37 (bull), the price of ₹138.79 sits inside 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 33/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Natural Capsules Limited reported revenue of ₹1.9B in FY2026 versus ₹1.3B in FY2022, a compound +9.6%/yr. Reported net income was −₹171M in FY2026.

Key figures

Market cap ₹1.4B (≈ $15.1M) Micro · P/S ratio 0.74 · EPS (TTM) ₹−25.26 · Net margin −9.1% · Return on equity −10.0% · Return on assets (EBIT) 4.8% (5-year average) · Operating margin −6.6% · Revenue (TTM) ₹1.9B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 39% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −27% fair-value upside, at 3%, NATCAPSUQ screens cheaper than that median.

Fair Value models

Bear ₹106.18 Fair Value ₹142.29 Bull ₹212.37
Price ₹138.79 · Upside +2.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) ₹106.18 ₹142.29 ₹212.37 54
All 1 models by family
Asset-Based
NCAV (Graham) ₹106.18 ₹142.29 ₹212.37 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 10
How much profit the company makes from its sales and capital
Quality Growth 29
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 39
Debt, balance sheet and risk of trouble
Investment 36
Does it invest with discipline instead of growing at any price?
Low Volatility 61
How calm the share price moves, does not count
Price momentum 25
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 100
Buys back shares or issues new ones?

Open the full quality analysis →

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. 21/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.0%
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.
+4.4%
Profit margin (trend) ⓘ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.
17.7% (2022) → −10.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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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 · 549 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside +2.5% · Above median
Profitability
Return on assets −4.0% · Bottom 25%
Net margin (12 months) −8.1% · Bottom 25%
Operating margin (12 months) −6.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 7.8% · Above median
Balance sheet
Debt / equity 0.25× · Highest 25%

Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B 0.64× · Cheapest 25%
P/S (12 months) 0.74× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)37 · sector 15
FUTURE (revenue growth)39 · sector 25
PAST (return on equity)0 · sector 29
HEALTH (low debt)88 · sector 96
DIVIDEND (yield)0 · sector 32

Context: sector, industry, 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 Compare
Zoetis Inc ZTS $79.40 $111.63 +41% vs NATCAPSUQ
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥50.43 ¥55.21 +9% vs NATCAPSUQ
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,860 ₹1,947 +5% vs NATCAPSUQ
Haleon plc HLN $9.14 $8.61 −6% vs NATCAPSUQ
Merck KGaA MRK €148.75 €109.18 −27% vs NATCAPSUQ
Galderma Group GALD CHF 191.75 CHF 109.86 −43% vs NATCAPSUQ
Takeda Pharmaceutical Company TAK $21.02 $11.31 −46% vs NATCAPSUQ
Teva Pharmaceutical Industries Limited TEVA $42.61 $20.74 −51% vs NATCAPSUQ
Sandoz Group SDZ CHF 83.78 CHF 39.70 −53% vs NATCAPSUQ
Divi's Laboratories Limited DIVISLAB ₹10,321 ₹1,567 −85% vs NATCAPSUQ

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Natural Capsules Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Natural Capsules Limited Fair Value". https://www.fairvalue-calculator.com/stock/NATCAPSUQ

Frequently asked questions

Is Natural Capsules Limited (NATCAPSUQ) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ₹142.29 versus a price of ₹138.79, about +3% upside (fairly valued).
What is the fair value of NATCAPSUQ?
Our model-based fair value for Natural Capsules Limited is ₹142.29 (as of Nov 3, 2026), built from audited fundamentals. The current price: ₹138.79.
What is the quality score of NATCAPSUQ?
Natural Capsules Limited has a Quality Score of 33/100. 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 Natural Capsules Limited (NATCAPSUQ)?
Our model-based price target is the fair value of ₹142.29 (as of Nov 3, 2026) from 1 valuation models. Cautious scenario ₹106.18, optimistic scenario ₹212.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Natural Capsules Limited stock forecast for 2026?
Our models put fair value at ₹142.29, about +3% upside versus a price of ₹138.79 (fairly valued). Cautious scenario ₹106.18, optimistic scenario ₹212.37. The calculation is refreshed regularly with new filings.
What is the revenue of Natural Capsules Limited (NATCAPSUQ)?
Natural Capsules Limited reported trailing-twelve-month revenue of about ₹1.9B (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of Natural Capsules Limited (NATCAPSUQ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Natural Capsules Limited it is ₹142.29 per share (as of Nov 3, 2026), against a price of ₹138.79. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Natural Capsules Limited stock overvalued or undervalued in 2026?
As of Nov 3, 2026, NATCAPSUQ trades below its calculated fair value: price ₹138.79, fair value ₹142.29, a gap of about +3% (fairly valued). 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 NATCAPSUQ?
No. The price is what the market pays today (₹138.79); the fair value is what the company's own numbers justify (₹142.29). For Natural Capsules Limited the two are ₹3.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Natural Capsules Limited worth?
The market values Natural Capsules Limited at about ₹1.4B (market capitalisation, as of Nov 3, 2026). Per share that is ₹138.79; our models calculate a fair value of ₹142.29 per share.
What do the bullish and bearish scenarios say about NATCAPSUQ?
Our models span a range for Natural Capsules Limited: cautious scenario ₹106.18, base ₹142.29, optimistic ₹212.37 per share (as of Nov 3, 2026, price ₹138.79). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Natural Capsules Limited (NATCAPSUQ)?
Balance-sheet figures for Natural Capsules Limited (as of Nov 3, 2026): return on equity −10.0%, debt of 0.25 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is NATCAPSUQ from its 52-week high?
Natural Capsules Limited trades at ₹138.79, about 39% below its 52-week high of ₹226.98 and 4% above the low of ₹133.47 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹142.29 is for.
Which stocks are comparable to Natural Capsules Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Galderma Group, Teva 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 Natural Capsules Limited stock attractive at the current price?
The data as of Nov 3, 2026: price ₹138.79, calculated fair value ₹142.29 (+3%), Quality Score 33/100, from 1 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 NATCAPSUQ calculated?
We run Natural Capsules Limited through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of ₹142.29 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Natural Capsules Limited currently trades 2% below its own fair value, and the market average says nothing about that. 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 Natural Capsules Limited (NATCAPSUQ)?
The closing price on Nov 6, 2026 was ₹138.79. Our model-based fair value is ₹142.29, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Natural Capsules Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (₹106.18 to ₹212.37) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Natural Capsules Limited

How large is the market capitalisation of Natural Capsules Limited (NATCAPSUQ)?
The market capitalisation of Natural Capsules Limited is ₹1.4B (≈ $15.1M). 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 Natural Capsules Limited (NATCAPSUQ)?
The price-to-sales ratio of Natural Capsules Limited is 0.74 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Natural Capsules Limited (NATCAPSUQ)?
Earnings per share at Natural Capsules Limited are ₹−25.26. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Natural Capsules Limited (NATCAPSUQ)?
The net margin of Natural Capsules Limited is −9.1% (fiscal year 2026). 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 Natural Capsules Limited (NATCAPSUQ)?
The return on equity (ROE) of Natural Capsules Limited is −10.0% (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 Natural Capsules Limited (NATCAPSUQ)?
On an EBIT basis the return on assets of Natural Capsules Limited is 4.8% (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 Natural Capsules Limited (NATCAPSUQ)?
The operating margin of Natural Capsules Limited is −6.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Natural Capsules Limited (NATCAPSUQ)?
Revenue at Natural Capsules Limited is growing +7.8% versus a year earlier (3y avg +4.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Natural Capsules Limited (NATCAPSUQ) generate?
The free cash flow of Natural Capsules Limited is −₹107M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Natural Capsules Limited (NATCAPSUQ) carry?
The net debt of Natural Capsules Limited is ₹1.1B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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