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PHAARMASIA LTD. (PHRMASI) Fair Value & Analysis

Healthcare · IN · Market cap ₹677M

PL PHAARMASIA LTD. PHRMASI · BSE
Price₹76.00
Fair Value₹145.43
Upside+91.4%
Quality76/100
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Strengths

Trades 91% below our fair value of ₹145.43
Highly profitable · 37.2% net margin
Ranks above peers (9/12)

Risks

!Expensive Growth
!Low debt · negative free cash flow
!Moderate moat 59/100
!Evidence only medium, so the estimate is less certain
Expensive Growth
Highly profitable · 37.2% net margin
Low debt · negative free cash flow
Ranks above peers (9/12)
Moderate moat 59/100
Evidence: Medium Range ₹109.07 – ₹181.79 Share as image

Fair value as of: Aug 19, 2026

From 14 valuation models · updated 3 days ago

A strong business, screening 91% undervalued on our models.

What runs behind every stock

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

What matters now

  • The rarer combination: high quality (76/100) 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.
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Price vs Fair Value (5 years)

₹129.20 ₹21.25 Fair Value ₹145.43 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹21.25 – ₹129.20 · fair‑value band ₹109.07 – ₹181.79 · the ₹76.00 price screens below the ₹145.43 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

PHAARMASIA LTD. (PHRMASI) currently trades at ₹76.00, while our model-based Fair Value estimate is ₹145.43, implying the stock looks roughly 91.4% undervalued today. The Quality Score stands at 76/100 (high quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PHAARMASIA LTD. generated revenue of ₹472M at a net margin of 37.2%. Revenue grew 42.4% year over year. It earns a return on equity of 114.0%. Net debt stands at ₹8.0M. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹109.07 (bear case) to ₹181.79 (bull case); at ₹76.00, the current price sits below 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 42% below its 52-week high and 192% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 91%, PHRMASI 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
ROIC Compounder ₹14.99 ₹16.97 ₹18.62 72
Growth-Adj P/E ₹426.42 ₹609.16 ₹791.91 68
P/E Multiple ₹424.71 ₹566.29 ₹707.86 63
All 14 models by family
Earnings-Based
Graham-Dodd ₹175.03 ₹996.66 ₹1,385 54
Lynch FV ₹280.18 ₹400.26 ₹520.34 50
PEG = 1.0 ₹280.18 ₹400.26 ₹520.34 46
EPV ₹14.99 ₹16.97 ₹18.62 59
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 53
EV/EBITDA ₹29.30 ₹38.91 ₹48.52 54
EV/Revenue ₹22.60 ₹32.08 ₹41.56 43
Asset-Based
NCAV (Graham) ₹16.18 ₹21.69 ₹32.37 50
Economic Profit
Residual Income ₹159.00 ₹273.03 ₹5,867 61
ROIC Compounder ₹14.99 ₹16.97 ₹18.62 72
Growth Earnings
Growth-Adj P/E ₹426.42 ₹609.16 ₹791.91 68

Widest divergence: Growth Earnings (₹609.16) versus Economic Profit (₹16.97). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) ₹472M
Revenue growth (YoY) +42.4%
Net margin 37.2%
Return on equity 114%
Free cash flow −₹164M FY2026
P/E ratio 3.0
More key figures
Operating margin -4.7%
EPS (TTM) ₹25.74
Net debt ₹8.0M FY2026

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 74 · Market factors (momentum, volatility) 47

Profitability 97
Margins and returns on capital today
Quality Growth 96
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 36
Price trend over the last 3–12 months (market factor)
52W Momentum 74
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

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, …

Full company description

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.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

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

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹472M
Latest YoY
+93.7%
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.
+19.8%
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.
+18.9%
Avg. growth/yr (13Y) 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.
+15.4%
Revenue +28.7%/yr
FY22 ₹172M
FY23 ₹275M
FY24 ₹306M
FY25 ₹244M
FY26 ₹472M
Net income
FY22 −₹15.5M
FY23 −₹12.6M
FY24 −₹5.2M
FY25 −₹15.9M
FY26 ₹176M

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Cite: Fair Value Calculator (2026). "PHAARMASIA LTD. Fair Value". https://www.fairvalue-calculator.com/stock/PHRMASI

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 76 · Top 25%
Fair Value upside +91% · Top 25%
Return on equity (TTM) 114% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 37% · Top 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth 42% · Top 25%

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

P/E (TTM) 3.0× · Cheaper than 75% of peers
P/B 3.07× · Pricier than median
P/S (TTM) 1.44× · Cheaper than median
EV/EBITDA 23.8× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 3
FUTURE100 · sector 20
PAST100 · sector 22
HEALTH100 · sector 97
DIVIDEND0 · sector 30

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 19, 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 PHAARMASIA LTD. (PHRMASI) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹145.43 versus a price of ₹76.00, about +91% (undervalued).
What is the fair value of PHRMASI?
Our model-based fair value for PHAARMASIA LTD. is ₹145.43 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹76.00.
What is the quality score of PHRMASI?
PHAARMASIA LTD. has a Quality Score of 76/100. 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 PHAARMASIA LTD. (PHRMASI)?
PHAARMASIA LTD. reported trailing-twelve-month revenue of about ₹472M (latest available figure, as of Aug 19, 2026).
What is the net profit margin of PHRMASI?
The net profit margin of PHAARMASIA LTD. is about 37.2%, meaning it keeps roughly 37.2% 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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