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Procter & Gamble Health Limited (PGHL) Fair Value & Analysis

Healthcare · IN · Market cap ₹96.8B

PG Procter & Gamble Health Limited PGHL · BSE
Price₹5,835
Fair Value₹3,617
Upside-38.0%
Quality95/100
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Strengths

Highly profitable · 24.9% net margin
generates free cash flow
Wide moat 88/100

Risks

!Trades 38% ABOVE our fair value of ₹3,617
!Mixed Growth
Mixed Growth
Highly profitable · 24.9% net margin
generates free cash flow
Wide moat 88/100
Evidence: High Range ₹2,307 – ₹4,921 Share as image

Fair value as of: Aug 23, 2026

From 26 valuation models · updated today

Share price −13.2% over the past month.

A strong business, but screening 38% overvalued on our models.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 95/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹4,921). The favourable scenario is already priced in.
  • A fairly wide model range (₹2,307 to ₹4,921) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹6,914 ₹3,591 Fair Value ₹3,617 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹3,591 – ₹6,914 · fair‑value band ₹2,307 – ₹4,921 · the ₹5,835 price screens above the ₹3,617 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

Full chart & analysis →

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Analysis

Procter & Gamble Health Limited (PGHL) currently trades at ₹5,835, while our model-based Fair Value estimate is ₹3,617, implying the stock looks roughly 38.0% overvalued today. The Quality Score stands at 95/100 (high quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Procter & Gamble Health Limited generated revenue of ₹14.3B at a net margin of 24.9%. Revenue grew 7.4% year over year. It earns a return on equity of 61.6%. The stock trades on a trailing P/E of 27.0. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹2,307 (bear case) to ₹4,921 (bull case); at ₹5,835, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -38%, PGHL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Residual Income ₹1,136 ₹1,358 ₹7,237 76
Growth DCF ₹2,423 ₹3,849 ₹6,112 72
Gordon GGM ₹1,882 ₹3,914 ₹6,208 70
All 26 models by family
DCF Models
FCF DCF ₹2,401 ₹3,854 ₹6,166 38
Owner Earnings ₹2,492 ₹4,002 ₹6,405 31
5Y Revenue Exit ₹2,020 ₹3,185 ₹4,688 39
5Y EBITDA Exit ₹2,603 ₹4,309 ₹6,344 41
5Y P/E Exit ₹2,817 ₹4,723 ₹6,782 38
10Y Revenue Exit ₹2,077 ₹3,191 ₹4,733 36
10Y EBITDA Exit ₹2,510 ₹3,985 ₹6,035 37
10Y P/E Exit ₹2,648 ₹4,278 ₹6,379 35
Earnings-Based
Graham-Dodd ₹1,339 ₹4,814 ₹6,488 54
Lynch FV ₹1,137 ₹1,625 ₹2,112 50
PEG = 1.0 ₹1,137 ₹1,625 ₹2,112 46
EPV ₹2,105 ₹2,438 ₹2,730 59
Dividend Discount
Gordon GGM ₹1,882 ₹3,914 ₹6,208 70
DDM Multi-Stage ₹1,882 ₹3,300 ₹4,107 61
Multiples
P/E Multiple ₹3,250 ₹4,333 ₹5,416 63
P/S Multiple ₹2,227 ₹2,969 ₹3,711 58
P/B Multiple ₹1,067 ₹1,422 ₹1,778 55
EV/EBIT ₹3,433 ₹4,542 ₹5,651 53
EV/EBITDA ₹2,995 ₹3,958 ₹4,921 54
EV/Revenue ₹1,888 ₹2,651 ₹3,415 43
Asset-Based
NCAV (Graham) ₹158.00 ₹211.72 ₹316.01 50
Growth DCF
Growth DCF ₹2,423 ₹3,849 ₹6,112 72
Rev-Margin DCF ₹2,020 ₹3,183 ₹4,578 67
Economic Profit
Residual Income ₹1,136 ₹1,358 ₹7,237 76
ROIC Compounder ₹2,177 ₹2,609 ₹3,048 67
Growth Earnings
Growth-Adj P/E ₹2,232 ₹3,189 ₹4,146 68

Widest divergence: DCF Models (₹3,985) versus Asset-Based (₹211.72). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹14.3B
Revenue growth (YoY) +7.4%
Net margin 24.9%
Return on equity 61.6%
Free cash flow ₹3.2B FY2025
P/E ratio 27.0
More key figures
Operating margin 25.7%
EPS (TTM) ₹216.25
EPS growth (YoY) -4.9%

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 95/100

Of which business quality 90 · Market factors (momentum, volatility) 59

Profitability 99
Margins and returns on capital today
Quality Growth 89
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Procter & Gamble Health Limited engages in the manufacture and marketing of pharmaceuticals and chemical products in India and internationally. The company provides over-the-counter products, vitamins, minerals, and supplements. It offers its products under the Polybion, Cosome, Evion, Neurobion, Nasivion, Livogen, and Seven Seas brands.

Full company description

Procter & Gamble Health Limited engages in the manufacture and marketing of pharmaceuticals and chemical products in India and internationally. The company provides over-the-counter products, vitamins, minerals, and supplements. It offers its products under the Polybion, Cosome, Evion, Neurobion, Nasivion, Livogen, and Seven Seas brands. The company was formerly known as Merck Limited and changed its name to Procter & Gamble Health Limited in May 2019. The company was incorporated in 1967 and is headquartered in Mumbai, India. Procter & Gamble Health Limited is a subsidiary of Procter & Gamble Overseas India BV.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Procter & Gamble Health Limited reported revenue of ₹14.1B in FY2025 versus ₹9.9B in FY2020, a compound +7.3%/yr. Reported net income was ₹3.3B in FY2025, compounding +13.1%/yr from FY2020.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
₹14.1B
Avg. growth/yr (3Y) 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.
+4.6%
Avg. growth/yr (5Y) 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.
+7.3%
Avg. growth/yr (12Y) 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.
+4.9%
Revenue +7.3%/yr
FY20 ₹9.9B
FY21 ₹10.9B
FY22 ₹12.3B
FY23 ₹11.3B
FY25 ₹14.1B
Net income +13.1%/yr
FY20 ₹1.8B
FY21 ₹1.9B
FY22 ₹2.3B
FY23 ₹2.0B
FY25 ₹3.3B

PGHL screens 38% overvalued. Compare with Sun Pharmaceutical Industries Limited →

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Cite: Fair Value Calculator (2026). "Procter & Gamble Health Limited Fair Value". https://www.fairvalue-calculator.com/stock/PGHL.BSE

Peer Group

Drug Manufacturers - Specialty & Generic · 639 stocks

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.

Quality Score 95 · Top 25%
Fair Value upside −38% · Below median
Return on equity (TTM) 62% · Top 25%
Return on assets 33% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 26% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 3.5% · Top 25%

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

P/E (TTM) 27.0× · Pricier than median
P/B 18.46× · Pricier than 75% of peers
P/S (TTM) 6.76× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 20.4× · Pricier than 75% of peers

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 (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹8,525 ₹1,228 -86%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,915 ₹1,163 -76%
PharmaEssentia Corporation 6446 1,440 TWD 233.93 TWD -84%
Cipla Limited CIPLA ₹1,463 ₹1,001 -32%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,167 ₹703.32 -40%
Lupin Limited LUPIN ₹2,281 ₹2,477 +9%
Mankind Pharma Limited MANKIND ₹2,433 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,200 ₹874.79 -27%
Laurus Labs Limited LAURUSLABS ₹1,823 ₹344.84 -81%

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Frequently asked questions

Is Procter & Gamble Health Limited (PGHL) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹3,617 versus a price of ₹5,835, about −38% (overvalued).
What is the fair value of PGHL?
Our model-based fair value for Procter & Gamble Health Limited is ₹3,617 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹5,835.
What is the quality score of PGHL?
Procter & Gamble Health Limited has a Quality Score of 95/100. 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 revenue of Procter & Gamble Health Limited (PGHL)?
Procter & Gamble Health Limited reported trailing-twelve-month revenue of about ₹14.3B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of PGHL?
The net profit margin of Procter & Gamble Health Limited is about 24.9%, meaning it keeps roughly 24.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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