Employees: 2,301
Size Innova Captab (INNOVACAP.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $618M, the 768th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,021 on 6 Nov 2026.
Performance Over six months the shares gained 18.2%, against -21.4% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 34.5% over the last twelve months (peer median -2.2%); the operating margin is 12.2% (peer median 4.6%).
Valuation It trades at 30.4× forward earnings against a peer median of 10.9× (2nd most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.3 points above its cost of capital (11.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹17.5B | ₹16.1B | ₹12.4B | ₹10.8B | ₹9.26B |
| Revenue growth | — | +30% | +15% | +16% | — |
| Gross profit | ₹3.95B | ₹2.45B | ₹2.12B | ₹1.87B | ₹1.39B |
| EBITDA | ₹2.59B | ₹2.10B | ₹1.81B | ₹1.55B | ₹1.14B |
| Net income | ₹1.56B | ₹1.43B | ₹1.27B | ₹943M | ₹680M |
| Free cash flow | n/a | ₹341M | -₹1.06B | -₹1.53B | -₹238M |
| Capital expenditure | n/a | ₹683M | ₹1.72B | ₹2.87B | ₹790M |
| Total debt | n/a | ₹3.44B | ₹3.38B | ₹2.45B | ₹2.37B |
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| Measure | INNOVACAP.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.4% | -6.6% | 7th lowest of 21 |
| 6-month return | +18.2% | -21.4% | highest of 21 |
| Distance from 52-week high | -24.6% | -35.8% | 2nd highest of 21 |
| Revenue growth (TTM) | +34.5% | -2.2% | 4th highest of 19 |
| Operating margin | 12.2% | 4.6% | 5th highest of 19 |
| Forward P/E | 30.4× | 10.9× | 2nd most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 25.4% | 1.1% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +31.4% | +5.0% | highest of 12 |
| Hurdle (Req g minus delivered) | -6.0 pp | +1.2 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | +3.3 pp | -3.1 pp | 4th highest of 17 |
| EV / EBITDA | 22.5× | 11.4× | 2nd most expensive of 7 |
| Net debt / EBITDA | 1.1× | 0.3× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Innova Captab INNOVACAP.NS | India | $618M | +18% | +34% | 12% | 30.4× | 25.4% | +31.4% |
| Beijing Tong Ren Tang Chinese Medicine 3613.HK | Hong Kong | $617M | -22% | -21% | 32% | 10.9× | -14.3% | +2.8% |
| Chongkundang 185750.KS | South Korea | $611M | -26% | +7% | 4% | 12.6× | n/a | n/a |
| Zhong Zhu Healthcare 600568.SS | China | $628M | -21% | -6% | -34% | n/a | n/a | n/a |
| Aclaris Therapeutics ACRS | United States | $604M | -21% | -51% | -1,040% | n/a | n/a | n/a |
| DBV Technologies DBV.PA | France | $633M | -47% | n/a | n/a | n/a | n/a | n/a |
| JIANMIN PHARMACEUTICAL 600976.SS | China | $638M | -12% | -2% | 8% | 7.1× | -4.9% | +6.5% |
| Tianjin Lisheng Pharmaceutical 002393.SZ | China | $598M | -23% | -3% | 7% | 9.7× | -3.2% | +4.1% |
| Olema Pharmaceuticals OLMA | United States | $641M | -51% | n/a | n/a | n/a | n/a | n/a |
| TTY Biopharm 4105.TWO | Taiwan | $596M | +7% | +5% | 33% | 10.9× | -11.1% | +8.8% |
| Supriya Lifescience SUPRIYA.NS | India | $593M | -1% | +28% | 30% | 23.6× | 27.9% | +15.8% |
| Abbisko Cayman 2256.HK | Hong Kong | $589M | -48% | -83% | -520% | n/a | n/a | n/a |
| Oneness Biotech 4743.TWO | Taiwan | $652M | -21% | +37% | -510% | n/a | n/a | n/a |
| Jinhe Biotechnology 002688.SZ | China | $587M | -22% | +9% | 5% | 9.5× | 14.8% | +9.7% |
| Jinling Pharmaceutical 000919.SZ | China | $586M | -14% | -8% | 1% | n/a | 5.0% | +5.0% |
| Fuan Pharmaceutical (Group) 300194.SZ | China | $653M | -11% | -3% | -1% | n/a | 12.1% | -5.9% |
| GuiZhou SanLi Pharmaceutical 603439.SS | China | $657M | -4% | -6% | 5% | 30.1× | 23.2% | +21.9% |
| Shandong Jincheng Pharmaceutical 300233.SZ | China | $661M | -25% | +2% | 4% | n/a | 1.1% | -1.6% |
| Lepu Biopharma 2157.HK | Hong Kong | $663M | -45% | +47% | 7% | 61.2× | n/a | n/a |
| Luoxin Pharmaceuticals Group Stock 002793.SZ | China | $664M | -26% | -10% | -9% | n/a | 0.3% | -17.9% |
| Sun Pharma Advanced Research SPARC.NS | India | $665M | +16% | +3,141% | 84% | n/a | n/a | n/a |