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PHAARMASIA LTD. (PHRMASI) fair value: what the stock is really worth

As of Oct 5, 2026: fair value of PHAARMASIA LTD. ₹145, price ₹92.40, upside +57.4%, quality 78 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Healthcare · IN · ISIN INE486I01016

PL Thin data Oct 3, 2026

PHAARMASIA LTD.

PHRMASI · BSE

Strongly undervaluedStrong Fair Value upside with high Quality.

Fair value ₹145.43 · Strongly undervalued (+57.4%)
Quality 78/100
Highly profitable · 36.3% net margin (TTM)
Low debt
Ranks above peers (9/12)
Wide moat 66/100
Expensive Growth (revenue 5y +18.9 %/yr in INR)
Negative free cash flow
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

₹129.20 ₹21.25 Fair Value ₹145.43 May 2021 Oct 2026

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 ₹21.25 – ₹129.20 · fair‑value band ₹109.07 – ₹181.79 · the ₹92.40 price screens below the ₹145.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Phaarmasia Limited manufactures and sells oral contraceptive pills and iron tablets in India.

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Phaarmasia Limited manufactures and sells oral contraceptive pills and iron tablets in India. The company offers hormone products, including mifepristone and misoprostaol, desogestrel and ethinyl estradiol, estradiol valerate, levonorgestrel and ethinyl estradiol, medroxyprogesterone acetate, cabergoline, clomiphene citrate, levonorgestrel, progesterone, fluoxymesterone, liothyronine sodium, chlorodehydromethyltestosterone, liothyronine sodium, oxandrolone tablets, testosterone cypionate, methenolone enanthate, drostanolone, testosterone, trenbolone, and stanozolol cypionate injections. It provides herbal products, such as herbal toothpaste, cough and sore throat reliver, and mouth ulcer gel under the Smyle brand name. Phaarmasia Limited was incorporated in 1981 and is based in Hyderabad, India.

Stock analysis

PHAARMASIA LTD. (PHRMASI) currently trades at ₹92.40, while our model-based Fair Value estimate is ₹145.43, implying the stock looks roughly 36.5% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹609.16 per share, and 8 of the 14 models we run sit above the ₹92.40 price.

Bear case: the Economic Profit group reads lowest at ₹19.58, and 6 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹109.07 (bear) to ₹181.79 (bull), the price of ₹92.40 sits below 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 78/100 (high quality), in the Healthcare sector.

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

PHAARMASIA LTD. reported revenue of ₹472M in FY2026 versus ₹172M in FY2022, a compound +28.7%/yr. Reported net income was ₹176M in FY2026.

Key figures

Market cap ₹631M (≈ $6.5M) · P/E ratio 3.6 · P/S ratio 1.33 · EPS (TTM) ₹25.84 · Net margin 37.2% · Return on equity 114% · Return on assets (EBIT) −5.1% · Operating margin 3.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 208% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at 57%, PHRMASI screens cheaper than that median.

Fair Value models

Bear ₹109.07 Fair Value ₹145.43 Bull ₹181.79
Price ₹92.40 · Upside +57.4%
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 2026 figures (about 6 months old). Earnings retained since then (₹13.45 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
EPV ₹16.97 ₹19.58 ₹21.82 74
ROIC Compounder ₹16.97 ₹19.58 ₹21.82 72
EV/EBITDA ₹29.30 ₹38.91 ₹48.52 67
All 14 models by family
Earnings-Based
Graham-Dodd ₹175.03 ₹996.66 ₹1,385 63
Lynch FV ₹280.18 ₹400.26 ₹520.34 61
PEG = 1.0 ₹280.18 ₹400.26 ₹520.34 57
EPV ₹16.97 ₹19.58 ₹21.82 74
Multiples
P/E Multiple ₹424.71 ₹566.29 ₹707.86 63
P/S Multiple ₹181.52 ₹242.02 ₹302.53 58
P/B Multiple ₹109.24 ₹145.65 ₹182.06 55
EV/EBIT ₹31.47 ₹41.81 ₹52.14 66
EV/EBITDA ₹29.30 ₹38.91 ₹48.52 67
EV/Revenue ₹22.60 ₹32.08 ₹41.56 54
Asset-Based
NCAV (Graham) ₹16.18 ₹21.69 ₹32.37 54
Economic Profit
Residual Income ₹113.39 ₹182.15 ₹463.51 62
ROIC Compounder ₹16.97 ₹19.58 ₹21.82 72
Growth Earnings
Growth-Adj P/E ₹426.42 ₹609.16 ₹791.91 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 78/100

Of which business quality 75 · Market factors (momentum, volatility) 62

Profitability 97
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 82
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+93.7%
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.
+19.8%
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.
+18.9%
Start year 2021 (pandemic). Over 10 years: +13.6% 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.
+15.4%
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.
−2.0% (2021) → 3.5% (2026)

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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 · 603 stocks

Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 78 · Top 25%
Fair Value upside +57.4% · Top 25%
Profitability
Return on equity (TTM) 114.0% · Top 25%
Return on assets 6.4% · Top 25%
Net margin (TTM) 36.3% · Top 25%
Operating margin (TTM) 3.8% · Below median
Growth and dividend
Revenue growth 20.5% · Top 25%

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

P/E (TTM) 3.6× · Cheapest 25%
P/B 2.85× · Pricier than median
P/S (TTM) 1.30× · Cheaper than median
EV/EBITDA 22.5× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 18
FUTURE (revenue growth)100 · sector 24
PAST (return on equity)100 · sector 27
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 31

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
Merck KGaA MRK €134.45 €108.94 −19%
Takeda Pharmaceutical Company TAK $17.86 $11.35 −36%
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 $69.69 $110.50 +59%
Divi's Laboratories Limited DIVISLAB ₹9,620 ₹1,871 −81%

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PHAARMASIA LTD. · Fair Value
₹145.43 +36%Fair Value
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Cite: Fair Value Calculator (2026). "PHAARMASIA LTD. Fair Value". https://www.fairvalue-calculator.com/stock/PHRMASI

Frequently asked questions

Is PHAARMASIA LTD. (PHRMASI) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹145.43 versus a price of ₹92.40, about +57% upside (undervalued).
What is the fair value of PHRMASI?
Our model-based fair value for PHAARMASIA LTD. is ₹145.43 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹92.40.
What is the quality score of PHRMASI?
PHAARMASIA LTD. has a Quality Score of 78/100. 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 PHAARMASIA LTD. (PHRMASI)?
Our model-based price target is the fair value of ₹145.43 (as of Oct 3, 2026) from 14 valuation models. Cautious scenario ₹109.07, optimistic scenario ₹181.79. It is a calculation from audited fundamentals, not an analyst target.
What is the PHAARMASIA LTD. stock forecast for 2026?
Our models put fair value at ₹145.43, about +57% upside versus a price of ₹92.40 (undervalued). Cautious scenario ₹109.07, optimistic scenario ₹181.79. The calculation is refreshed regularly with new filings.
What is the revenue of PHAARMASIA LTD. (PHRMASI)?
PHAARMASIA LTD. reported trailing-twelve-month revenue of about ₹486M (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of PHAARMASIA LTD. (PHRMASI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PHAARMASIA LTD. it is ₹145.43 per share (as of Oct 3, 2026), against a price of ₹92.40. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is PHAARMASIA LTD. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, PHRMASI trades below its calculated fair value: price ₹92.40, fair value ₹145.43, a gap of about +57% (undervalued). 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 PHRMASI?
No. The price is what the market pays today (₹92.40); the fair value is what the company's own numbers justify (₹145.43). For PHAARMASIA LTD. the two are ₹53.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is PHAARMASIA LTD. worth?
The market values PHAARMASIA LTD. at about ₹631M (market capitalisation, as of Oct 3, 2026). Per share that is ₹92.40; our models calculate a fair value of ₹145.43 per share.
What do the bullish and bearish scenarios say about PHRMASI?
Our models span a range for PHAARMASIA LTD.: cautious scenario ₹109.07, base ₹145.43, optimistic ₹181.79 per share (as of Oct 3, 2026, price ₹92.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PHRMASI?
PHAARMASIA LTD. trades at a price-to-earnings ratio of 3.6 (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 ₹145.43 is built from several models across several years. Other multiples: P/B 2.9, P/S 1.3, EV/EBITDA 22.5.
How solid is the balance sheet of PHAARMASIA LTD. (PHRMASI)?
Balance-sheet figures for PHAARMASIA LTD. (as of Oct 3, 2026): return on equity 114.0%. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is PHRMASI from its 52-week high?
PHAARMASIA LTD. trades at ₹92.40, about 28% below its 52-week high of ₹129.20 and 208% above the low of ₹30.01 (as of Oct 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹145.43 is for.
Which stocks are comparable to PHAARMASIA LTD.?
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 PHAARMASIA LTD. stock attractive at the current price?
The data as of Oct 3, 2026: price ₹92.40, calculated fair value ₹145.43 (+57%), Quality Score 78/100, from 14 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 PHRMASI calculated?
We run PHAARMASIA LTD. through 14 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 ₹145.43, 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 15.4 % above its aggregate fair value. PHAARMASIA LTD. currently trades 36 % 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 PHAARMASIA LTD. (PHRMASI)?
The closing price on Oct 5, 2026 was ₹92.40. Our model-based fair value is ₹145.43, about +57% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PHAARMASIA LTD. right now?
The rarer combination: high quality (78/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (₹109.07). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of PHAARMASIA LTD.

How large is the market capitalisation of PHAARMASIA LTD. (PHRMASI)?
The market capitalisation of PHAARMASIA LTD. is ₹631M (≈ $6.5M). 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 PHAARMASIA LTD. (PHRMASI)?
The price-to-sales ratio of PHAARMASIA LTD. is 1.33 (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 PHAARMASIA LTD. (PHRMASI)?
Earnings per share at PHAARMASIA LTD. are ₹25.84 (price ÷ EPS = P/E 3.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PHAARMASIA LTD. (PHRMASI)?
The net margin of PHAARMASIA LTD. is 37.2% (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 PHAARMASIA LTD. (PHRMASI)?
The return on equity (ROE) of PHAARMASIA LTD. is 114% (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 PHAARMASIA LTD. (PHRMASI)?
On an EBIT basis the return on assets of PHAARMASIA LTD. is −5.1% (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 PHAARMASIA LTD. (PHRMASI)?
The operating margin of PHAARMASIA LTD. is 3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PHAARMASIA LTD. (PHRMASI)?
Revenue at PHAARMASIA LTD. is growing +20.5% versus a year earlier (3y avg +19.8%). 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 PHAARMASIA LTD. (PHRMASI)?
Earnings per share at PHAARMASIA LTD. are growing +25.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PHAARMASIA LTD. (PHRMASI) generate?
The free cash flow of PHAARMASIA LTD. is −₹164M (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 PHAARMASIA LTD. (PHRMASI) carry?
The net debt of PHAARMASIA LTD. is ₹8.0M (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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