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UNJHA FORMULATIONS LTD. (UNJHAFOR) Fair Value & Analysis

Healthcare · IN · Market cap ₹87.4M

UF UNJHA FORMULATIONS LTD. UNJHAFOR · BSE
Price₹26.50
Fair Value₹29.28
Upside+10.5%
Quality69/100
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Strengths

Trades 10% below our fair value of ₹29.28
Healthy Growth
Low debt · generates free cash flow
Ranks above peers (10/13)

Risks

!Thin margins · 4.5% net margin
!Narrow moat 43/100
Healthy Growth
Thin margins · 4.5% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Narrow moat 43/100
Evidence: High Range ₹20.99 – ₹40.44 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 7 days ago

Fair value updated Aug 13, 2026, revised from ₹31.46 to ₹29.28 (−6.9%) since Jul 6, 2026. Share price +35.9% over the past month.

A solid business, screening 10% undervalued on our models.

What matters now

  • A fairly wide model range (₹20.99 to ₹40.44) leaves room in how you read the outcome.
  • Our model range runs from ₹20.99 (bear) to ₹40.44 (bull), base ₹29.28. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹37.00 ₹7.50 Fair Value ₹29.28 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹7.50 – ₹37.00 · fair‑value band ₹20.99 – ₹40.44 · the ₹26.50 price screens below the ₹29.28 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

UNJHA FORMULATIONS LTD. (UNJHAFOR) currently trades at ₹26.50, while our model-based Fair Value estimate is ₹29.28, implying the stock looks roughly 10.5% undervalued today. The Quality Score stands at 69/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, UNJHA FORMULATIONS LTD. generated revenue of ₹157M at a net margin of 4.5%. Revenue grew 39.2% year over year. It earns a return on equity of 20.2%. The stock trades on a trailing P/E of 16.9. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹20.99 (bear case) to ₹40.44 (bull case); at ₹26.50, the current price sits within 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 13% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -40% fair-value upside, at 10%, UNJHAFOR 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
Growth DCF ₹23.01 ₹31.07 ₹41.10 80
Rev-Margin DCF ₹22.62 ₹33.72 ₹47.05 74
ROIC Compounder ₹16.56 ₹19.03 ₹21.65 72
All 24 models by family
DCF Models
FCF DCF ₹23.12 ₹31.98 ₹43.60 38
Owner Earnings ₹15.46 ₹20.83 ₹27.88 31
5Y Revenue Exit ₹22.62 ₹33.69 ₹47.95 39
5Y EBITDA Exit ₹25.13 ₹38.55 ₹54.45 41
5Y P/E Exit ₹25.18 ₹38.64 ₹53.09 38
10Y Revenue Exit ₹22.10 ₹31.42 ₹44.21 36
10Y EBITDA Exit ₹23.95 ₹34.35 ₹48.58 37
10Y P/E Exit ₹23.97 ₹34.41 ₹47.66 35
Earnings-Based
Graham-Dodd ₹10.70 ₹38.91 ₹52.49 54
Lynch FV ₹9.25 ₹13.21 ₹17.18 50
PEG = 1.0 ₹9.25 ₹13.21 ₹17.18 46
EPV ₹15.78 ₹17.23 ₹18.41 59
Multiples
P/E Multiple ₹25.95 ₹34.60 ₹43.25 63
P/S Multiple ₹20.05 ₹26.74 ₹33.42 58
P/B Multiple ₹20.05 ₹26.74 ₹33.42 55
EV/EBIT ₹31.03 ₹40.16 ₹49.28 53
EV/EBITDA ₹29.53 ₹38.15 ₹46.77 54
EV/Revenue ₹23.20 ₹31.57 ₹39.94 43
Asset-Based
NCAV (Graham) ₹4.29 ₹5.75 ₹8.58 50
Growth DCF
Growth DCF ₹23.01 ₹31.07 ₹41.10 80
Rev-Margin DCF ₹22.62 ₹33.72 ₹47.05 74
Economic Profit
Residual Income ₹8.37 ₹10.76 ₹25.63 61
ROIC Compounder ₹16.56 ₹19.03 ₹21.65 72
Growth Earnings
Growth-Adj P/E ₹17.97 ₹25.68 ₹33.38 68

Widest divergence: DCF Models (₹33.69) versus Asset-Based (₹5.75). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹157M
Revenue growth (YoY) +39.2%
Net margin 4.5%
Return on equity 20.2%
Free cash flow ₹10.1M FY2026
P/E ratio 16.9
More key figures
Operating margin -14.8%
EPS (TTM) ₹1.57
EPS growth (YoY) +6.0%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 72 · Market factors (momentum, volatility) 50

Profitability 74
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 55
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

Unjha Formulations Limited engages in the manufacture and sale of ayurvedic products in India. It offers sat-isabgol and isabgo husk formulation in elaichi flavor under the Anchor name; and isabgol powder in orange flavor under the Fibron and Fibron SF names. The company also exports its products.

Full company description

Unjha Formulations Limited engages in the manufacture and sale of ayurvedic products in India. It offers sat-isabgol and isabgo husk formulation in elaichi flavor under the Anchor name; and isabgol powder in orange flavor under the Fibron and Fibron SF names. The company also exports its products. Unjha Formulations Limited was incorporated in 1994 and is based in Sidhpur, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

UNJHA FORMULATIONS LTD. reported revenue of ₹156M in FY2026 versus ₹142M in FY2022, a compound +2.4%/yr. Reported net income was ₹7.0M in FY2026, compounding +29.3%/yr from FY2022.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹156M
Latest YoY
+12.4%
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.
+5.8%
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.
+9.4%
Avg. growth/yr (7Y) 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.
+4.5%
Revenue +2.4%/yr
FY22 ₹142M
FY23 ₹132M
FY24 ₹185M
FY25 ₹139M
FY26 ₹156M
Net income +29.3%/yr
FY22 ₹2.5M
FY23 ₹2.8M
FY24 ₹2.8M
FY25 ₹4.1M
FY26 ₹7.0M

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Cite: Fair Value Calculator (2026). "UNJHA FORMULATIONS LTD. Fair Value". https://www.fairvalue-calculator.com/stock/UNJHAFOR

Peer Group

Drug Manufacturers - Specialty & Generic · 638 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 69 · Top 25%
Fair Value upside +11% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 4% · Below median
Operating margin (TTM) -15% · Bottom 25%
Revenue growth 39% · Top 25%

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

P/E (TTM) 16.9× · Cheaper than median
P/B 2.27× · Pricier than median
P/S (TTM) 0.56× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 6.4× · Cheaper 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
VALUE47 · sector 4
FUTURE100 · sector 20
PAST81 · sector 23
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 13, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 1276 HK$56.05 HK$33.59 -40%
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%

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Frequently asked questions

Is UNJHA FORMULATIONS LTD. (UNJHAFOR) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹29.28 versus a price of ₹26.50, about +10% (undervalued).
What is the fair value of UNJHAFOR?
Our model-based fair value for UNJHA FORMULATIONS LTD. is ₹29.28 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹26.50.
What is the quality score of UNJHAFOR?
UNJHA FORMULATIONS LTD. has a Quality Score of 69/100. 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 UNJHA FORMULATIONS LTD. (UNJHAFOR)?
UNJHA FORMULATIONS LTD. reported trailing-twelve-month revenue of about ₹157M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of UNJHAFOR?
The net profit margin of UNJHA FORMULATIONS LTD. is about 4.5%, meaning it keeps roughly 4.5% 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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