Employees: 7,076
Size FDC (FDC.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $672M, the 734th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹389.95 on 6 Nov 2026.
Performance Over six months the shares gained 3.8%, against -6.1% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 10.2% over the last twelve months (peer median +11.7%); the operating margin is 13.9% (peer median 6.0%).
Valuation It trades at 2.5× enterprise value to sales against a peer median of 2.7× (7th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.3 points below its cost of capital (14.9% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹22.9B | ₹21.7B | ₹21.0B | ₹19.4B | ₹17.8B |
| Revenue growth | — | +3% | +9% | +9% | — |
| Gross profit | ₹9.74B | ₹7.47B | ₹6.52B | ₹6.53B | ₹5.34B |
| EBITDA | ₹3.79B | ₹3.47B | ₹3.30B | ₹3.43B | ₹2.55B |
| Net income | ₹3.13B | ₹2.81B | ₹2.67B | ₹3.05B | ₹1.94B |
| Free cash flow | n/a | ₹623M | ₹2.67B | ₹1.55B | ₹652M |
| Capital expenditure | n/a | ₹1.87B | ₹967M | ₹934M | ₹1.13B |
| Total debt | ₹128M | ₹155M | ₹212M | ₹205M | ₹283M |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FDC.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.7% | -7.7% | highest of 21 |
| 6-month return | +3.8% | -6.1% | 8th highest of 21 |
| Distance from 52-week high | -17.7% | -30.0% | 3rd highest of 21 |
| Revenue growth (TTM) | +10.2% | +11.7% | 9th highest of 17 |
| Operating margin | 13.9% | 6.0% | 5th highest of 17 |
| EV / Sales | 2.5× | 2.7× | 7th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 25.9% | 5.7% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +10.3% | +7.1% | 5th highest of 11 |
| Hurdle (Req g minus delivered) | +15.6 pp | +2.6 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | -3.3 pp | -3.9 pp | 8th highest of 16 |
| EV / EBITDA | 15.1× | 9.3× | 3rd most expensive of 7 |
| Net debt / EBITDA | -1.6× | -0.7× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| FDC FDC.NS | India | $672M | +4% | +10% | 14% | 2.5× | 25.9% | +10.3% |
| Center Laboratories 4123.TWO | Taiwan | $676M | -28% | +4% | 5% | 13.6× | 50.8% | +16.2% |
| Immix Biopharma IMMX | United States | $668M | -17% | n/a | n/a | n/a | n/a | n/a |
| Hunan Fangsheng Pharmaceutical 603998.SS | China | $678M | -6% | +10% | 19% | 2.5× | -2.4% | +6.4% |
| Zhejiang Wecome Pharmaceutical 300878.SZ | China | $666M | +10% | +40% | -65% | 19.0× | n/a | n/a |
| Sun Pharma Advanced Research SPARC.NS | India | $665M | +16% | +3,141% | 84% | 2.6× | n/a | n/a |
| Luoxin Pharmaceuticals Group Stock 002793.SZ | China | $664M | -26% | -10% | -9% | 2.2× | 0.3% | -17.9% |
| Earth 4985.T | Japan | $682M | +6% | +6% | 4% | 0.6× | -2.5% | -1.8% |
| Hubei Biocause Heilen Pharmaceutical 301211.SZ | China | $682M | -5% | +13% | 4% | 6.2× | n/a | n/a |
| Lepu Biopharma 2157.HK | Hong Kong | $663M | -45% | +47% | 7% | 5.1× | n/a | n/a |
| Nuvectis Pharma NVCT | United States | $683M | +79% | n/a | n/a | n/a | n/a | n/a |
| Mochida Pharmaceutical 4534.T | Japan | $683M | -6% | +15% | 9% | 0.7× | n/a | n/a |
| Shandong Jincheng Pharmaceutical 300233.SZ | China | $661M | -25% | +2% | 4% | 1.4× | 1.1% | -1.6% |
| Jenkem Technology 688356.SS | China | $686M | -23% | +52% | 11% | 10.9× | 41.4% | +11.2% |
| Shandong Wit Dyne Health 000915.SZ | China | $687M | -33% | -36% | 36% | 2.5× | n/a | n/a |
| GuiZhou SanLi Pharmaceutical 603439.SS | China | $657M | -4% | -6% | 5% | 2.9× | 23.2% | +21.9% |
| Zevra Therapeutics ZVRA | United States | $690M | +4% | +75% | 31% | 3.4× | 0.0% | +51.6% |
| Achieve Life Sciences ACHV | United States | $692M | +29% | n/a | n/a | n/a | n/a | n/a |
| Beijing Beilu Pharmaceutical 300016.SZ | China | $692M | -16% | +23% | 11% | 3.2× | 10.3% | +7.9% |
| Fuan Pharmaceutical (Group) 300194.SZ | China | $653M | -11% | -3% | -1% | 2.5× | 12.1% | -5.9% |
| Sagimet Biosciences SGMT | United States | $693M | +28% | n/a | n/a | n/a | n/a | n/a |