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FDC Ltd.FDC.NSCompetitor analysis, valuation and peers

India · INR·Pharma & Healthcare›Pharmaceuticals: Major
Momentum leader 81
Mkt cap
$672M
US dollars, full cap
Free float
30%
of shares outstanding
$/day
$1.10M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
-3.3 pp
WACC 14.9%
Hurdle
+16 pp
Req g minus delivered
Next earnings
83 days
28 Jan 2027
Close · INR₹389.95
1D-0.4%
1W+3.4%
1M+18.7%
3M+5.4%
6M+3.8%
YTD-7.8%
1Y-13.7%
ATR %2.9%
Beta0.39
52w lowhigh17.7% off high

What FDC does

Employees: 7,076

FDC at a glance

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).

Relative performance

9010011011 May 202611 Aug 20266 Nov 2026FDC.NS 103Peer median 94
Six months, rebased to 100: FDC against the median of its 20 peers (local-currency closes).

FDC financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
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 flown/a₹623M₹2.67B₹1.55B₹652M
Capital expendituren/a₹1.87B₹967M₹934M₹1.13B
Total debt₹128M₹155M₹212M₹205M₹283M

Quarterly statements and history in the cockpit →

FDC competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%-20%0%4123IMMX603998300878SPARC00279349853012112157NVCT4534300233688356000915603439ACHV300016300194SGMTFDC.NS6-month return →1-month return →
Up and to the right = strong over both horizons. FDC is the large dot.

Fundamentals: revenue growth against valuation

0%+1,000%+2,000%+3,000%0×10×20×4123603998300878SPARC00279349853012112157300233688356ZVRA300016FDC.NSRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. FDC is the large dot.

Capital: growth delivered against growth the price implies

-20%0%+20%+40%0%25%50%41236039980027934985300233688356603439ZVRA300016300194FDC.NSGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. FDC is the large dot.

FDC competitors and peer comparison

How FDC compares with its peers

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.

FDC against its 20 peers (data as of 6 Nov 2026)
MeasureFDC.NSPeer medianRank 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 margin13.9%6.0%5th highest of 17
EV / Sales2.5×2.7×7th 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 pp5th most demanding of 11
ROIC minus cost of capital-3.3 pp-3.9 pp8th highest of 16
EV / EBITDA15.1×9.3×3rd most expensive of 7
Net debt / EBITDA-1.6×-0.7×2nd least indebted of 7

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
FDC FDC.NSIndia$672M+4%+10%14%2.5×25.9%+10.3%
Center Laboratories 4123.TWOTaiwan$676M-28%+4%5%13.6×50.8%+16.2%
Immix Biopharma IMMXUnited States$668M-17%n/an/an/an/an/a
Hunan Fangsheng Pharmaceutical 603998.SSChina$678M-6%+10%19%2.5×-2.4%+6.4%
Zhejiang Wecome Pharmaceutical 300878.SZChina$666M+10%+40%-65%19.0×n/an/a
Sun Pharma Advanced Research SPARC.NSIndia$665M+16%+3,141%84%2.6×n/an/a
Luoxin Pharmaceuticals Group Stock 002793.SZChina$664M-26%-10%-9%2.2×0.3%-17.9%
Earth 4985.TJapan$682M+6%+6%4%0.6×-2.5%-1.8%
Hubei Biocause Heilen Pharmaceutical 301211.SZChina$682M-5%+13%4%6.2×n/an/a
Lepu Biopharma 2157.HKHong Kong$663M-45%+47%7%5.1×n/an/a
Nuvectis Pharma NVCTUnited States$683M+79%n/an/an/an/an/a
Mochida Pharmaceutical 4534.TJapan$683M-6%+15%9%0.7×n/an/a
Shandong Jincheng Pharmaceutical 300233.SZChina$661M-25%+2%4%1.4×1.1%-1.6%
Jenkem Technology 688356.SSChina$686M-23%+52%11%10.9×41.4%+11.2%
Shandong Wit Dyne Health 000915.SZChina$687M-33%-36%36%2.5×n/an/a
GuiZhou SanLi Pharmaceutical 603439.SSChina$657M-4%-6%5%2.9×23.2%+21.9%
Zevra Therapeutics ZVRAUnited States$690M+4%+75%31%3.4×0.0%+51.6%
Achieve Life Sciences ACHVUnited States$692M+29%n/an/an/an/an/a
Beijing Beilu Pharmaceutical 300016.SZChina$692M-16%+23%11%3.2×10.3%+7.9%
Fuan Pharmaceutical (Group) 300194.SZChina$653M-11%-3%-1%2.5×12.1%-5.9%
Sagimet Biosciences SGMTUnited States$693M+28%n/an/an/an/an/a

Questions

Which companies are FDC's closest peers?
The cockpit's peer set: Center Laboratories (4123.TWO), Immix Biopharma (IMMX), Hunan Fangsheng Pharmaceutical (603998.SS), Zhejiang Wecome Pharmaceutical (300878.SZ), Sun Pharma Advanced Research (SPARC.NS), Luoxin Pharmaceuticals Group Stock (002793.SZ), Earth (4985.T), Hubei Biocause Heilen Pharmaceutical (301211.SZ).
Is FDC expensive compared with its peers?
On ev / sales it trades at 2.5× against a peer median of 2.7×, 7th cheapest of 17 in its peer set. 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.
How has FDC stock performed?
Over six months to 6 Nov 2026 the shares returned +3.8% against -6.1% for the median peer; over one year -13.7%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.