NATURAL CAPSULES LTD. (NATCAPSUQ) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of NATURAL CAPSULES LTD. ₹142, price ₹173, upside -17.7%, quality 28 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹125.08 – ₹656.94 · fair‑value band ₹106.18 – ₹212.37 · the ₹172.85 price screens above the ₹142.29 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Natural Capsules Limited manufactures and sells hard gelatin and cellulose capsule shells in India.
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Natural Capsules Limited manufactures and sells hard gelatin and cellulose capsule shells in India. The company offers hard gelatin, hard cellulose, bovine spongiform encephalopathy and transmissible spongiform encephalopathy free gelatin, shiny gelatin, sodium lauryl sulfate free gelatin, halal certified gelatin, fortified gelatin, sweet 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 for use in pharma and nutraceutical products. The company also exports its products. Natural Capsules Limited was founded in 1993 and is based in Bengaluru, India.
Stock analysis
NATURAL CAPSULES LTD. (NATCAPSUQ) currently trades at ₹172.85, while our model-based Fair Value estimate is ₹142.29, implying the stock looks roughly 21.5% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 92/100, which puts the evidence level at low.
Scenario range: ₹106.18 (bear) to ₹212.37 (bull), the price of ₹172.85 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 28/100 (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 LTD. reported revenue of ₹1.9B in FY2026 versus ₹1.3B in FY2022, a compound +9.6%/yr. Reported net income was −₹247M in FY2026.
Key figures
Market cap ₹1.8B (≈ $18.7M) · P/S ratio 0.86 · EPS (TTM) ₹−23.84 · Net margin −13.2% · Return on equity −10.0% · Return on assets (EBIT) 4.7% · Operating margin −5.1% · Revenue (TTM) ₹1.9B.
What moves the price
The share trades about 42% below its 52-week high and 26% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −18%, NATCAPSUQ screens richer than that median.
Fair Value models
Bear ₹106.18Fair Value ₹142.29Bull ₹212.37
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.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.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.
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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.6%
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%
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.
+20.4%
Start year 2021 (pandemic). Over 10 years: +11.7% a year
Revenue growth 13 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.
+10.1%
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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.
10.4% (2021) → −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
Price, fair value, quality and upside side by side.
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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 · 614 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−16% · Below median
Profitability
Return on assets−3% · Bottom 25%
Net margin (TTM)−9% · Bottom 25%
Operating margin (TTM)−5% · Bottom 25%
Growth and dividend
Revenue growth30% · Top 25%
Balance sheet
Debt / equity0.25× · Above median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is NATURAL CAPSULES LTD. (NATCAPSUQ) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹142.29 versus a price of ₹172.85, about −18% upside (overvalued).
What is the fair value of NATCAPSUQ?
Our model-based fair value for NATURAL CAPSULES LTD. is ₹142.29 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹172.85.
What is the quality score of NATCAPSUQ?
NATURAL CAPSULES LTD. has a Quality Score of 28/100. 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 LTD. (NATCAPSUQ)?
Our model-based price target is the fair value of ₹142.29 (as of Sep 24, 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 LTD. stock forecast for 2026?
Our models put fair value at ₹142.29, about −18% upside versus a price of ₹172.85 (overvalued). Cautious scenario ₹106.18, optimistic scenario ₹212.37. The calculation is refreshed regularly with new filings.
What is the revenue of NATURAL CAPSULES LTD. (NATCAPSUQ)?
NATURAL CAPSULES LTD. reported trailing-twelve-month revenue of about ₹1.9B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of NATURAL CAPSULES LTD. (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 LTD. it is ₹142.29 per share (as of Sep 24, 2026), against a price of ₹172.85. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is NATURAL CAPSULES LTD. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NATCAPSUQ trades above its calculated fair value: price ₹172.85, fair value ₹142.29, a gap of about −18% (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 NATCAPSUQ?
No. The price is what the market pays today (₹172.85); the fair value is what the company's own numbers justify (₹142.29). For NATURAL CAPSULES LTD. the two are ₹30.56 per share apart. That gap is exactly why we show both numbers side by side.
How much is NATURAL CAPSULES LTD. worth?
The market values NATURAL CAPSULES LTD. at about ₹1.8B (market capitalisation, as of Sep 24, 2026). Per share that is ₹172.85; 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 LTD.: cautious scenario ₹106.18, base ₹142.29, optimistic ₹212.37 per share (as of Sep 24, 2026, price ₹172.85). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of NATURAL CAPSULES LTD. (NATCAPSUQ)?
Balance-sheet figures for NATURAL CAPSULES LTD. (as of Sep 24, 2026): return on equity −10.0%, debt of 0.25 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is NATCAPSUQ from its 52-week high?
NATURAL CAPSULES LTD. trades at ₹172.85, about 42% below its 52-week high of ₹296.40 and 26% above the low of ₹137.50 (as of Sep 24, 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 LTD.?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, 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 NATURAL CAPSULES LTD. stock attractive at the current price?
The data as of Sep 24, 2026: price ₹172.85, calculated fair value ₹142.29 (−18%), Quality Score 28/100, 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 LTD. through 1 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 ₹142.29, 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 14.1 % above its aggregate fair value. NATURAL CAPSULES LTD. 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 NATURAL CAPSULES LTD. (NATCAPSUQ)?
The closing price on Sep 22, 2026 was ₹172.85. Our model-based fair value is ₹142.29, about −18% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NATURAL CAPSULES LTD. right now?
Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. 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 LTD.
How large is the market capitalisation of NATURAL CAPSULES LTD. (NATCAPSUQ)?
The market capitalisation of NATURAL CAPSULES LTD. is ₹1.8B (≈ $18.7M). 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 LTD. (NATCAPSUQ)?
The price-to-sales ratio of NATURAL CAPSULES LTD. is 0.86 (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 LTD. (NATCAPSUQ)?
Earnings per share at NATURAL CAPSULES LTD. are ₹−23.84. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of NATURAL CAPSULES LTD. (NATCAPSUQ)?
The net margin of NATURAL CAPSULES LTD. is −13.2% (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 LTD. (NATCAPSUQ)?
The return on equity (ROE) of NATURAL CAPSULES LTD. 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 LTD. (NATCAPSUQ)?
On an EBIT basis the return on assets of NATURAL CAPSULES LTD. is 4.7% (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 LTD. (NATCAPSUQ)?
The operating margin of NATURAL CAPSULES LTD. is −5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NATURAL CAPSULES LTD. (NATCAPSUQ)?
Revenue at NATURAL CAPSULES LTD. is growing +30.0% 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 fast are earnings growing at NATURAL CAPSULES LTD. (NATCAPSUQ)?
Earnings per share at NATURAL CAPSULES LTD. are growing −43.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does NATURAL CAPSULES LTD. (NATCAPSUQ) generate?
The free cash flow of NATURAL CAPSULES LTD. is −₹6.1M (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 LTD. (NATCAPSUQ) carry?
The net debt of NATURAL CAPSULES LTD. 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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