NSE: IPCALAB | BSE: 524494

Strong Performer, Getting Expensive

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1583.00 -30.60 (-1.90%)

26.48% Gain from 52W Low

136.0K NSE+BSE Volume

NSE 12 Jun, 2026 3:31 PM (IST)

40,161.4

Market Cap

High in industry

Beta 1Year

Very Low volatility

Ipca Laboratories Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for IPCALAB, BSE:524494 Ipca Laboratories Ltd.

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Ipca Laboratories Ltd.

02 Jun 2026

1583.00

-1.90%

Ipca Laboratories (IPCA IN) Q4FY26 Result Update Strong FY27 guidance BUY

Buy: Ipca Laboratories Ltd.

Prabhudas Lilladhar

IPCA reported strong EBITDA of INR 4.9bn (up 19.6% YoY), 7% above our estimates. Company has guided strong revenue growth of 12-13% and 150 bps margin expansion in FY27. Our FY27 and FY28E EPS stand increased by 2-3% which factors in 11% revenue growth in FY27. Domestic formulation and branded generic business, which now contributes 46% of revenues and ~70% of EBITDA, continued to outperform and grow at healthy levels. We believe 1) recovery in API segment 2) higher margins ex Unichem 3) steady growth in domestic formulation are the key growth drivers. At CMP, the stock is trading at 14.5x EV/EBITDA and 23x PE on FY28E adjusted for Unichem stake. We...

Ipca Laboratories Ltd. has an average target of 1793.75 from 4 brokers.

Ipca Laboratories Ltd.

02 Jun 2026

1583.00

-1.90%

Ipca Laboratories

Buy: Ipca Laboratories Ltd.

Target

ICICI Direct

Q4FY26 - Formulations drive numbers- Revenues grew 6.3% YoY to 2388.5 crore, mainly driven by formulations. Domestic formulations grew 12% YoY to 853 crore. Under exports formulations - Branded exports grew ~14% to 190 crore, generic exports also grew 39% YoY to 341 crore whereas Institutional exports de-grew 33% YoY to 74.1 crore. The API business was flat at 344.6 crore. The subsidiaries (including Unichem) performance was also below par with ~6% degrowth to 574 crore. EBITDA grew 13% YoY to 483.9 crore while EBITDA margins improved...

Ipca Laboratories Ltd. has an average target of 1793.75 from 4 brokers.

Ipca Laboratories Ltd.

02 Jun 2026

1583.00

-1.90%

Sharp price-value disconnect emerging

Buy: Ipca Laboratories Ltd.

Emkay

Ipca’s 4QFY26 EBITDA was ahead of our expectations (broadly in line with the consensus’). The beat was driven by higher overall sales, a marginally higher gross margin, as well as lower staff costs.

Ipca Laboratories Ltd. is trading above all available SMAs

Ipca Laboratories Ltd.

01 Jun 2026

1583.00

-1.90%

Domestic/exports formulation drive earnings

Buy: Ipca Laboratories Ltd.

Target

Motilal Oswal

Ipca Laboratories (IPCA) delivered in-line revenue in 4QFY28. It delivered 5% beat on EBITDA, driven by higher gross margin. PAT came in line with estimate.

Ipca Laboratories Ltd. has an average target of 1793.75 from 4 brokers.

Ipca Laboratories Ltd.

17 Mar 2026

1583.00

-1.90%

Growth visibility improving in DF and exports

Buy: Ipca Laboratories Ltd.

Target

Motilal Oswal

IPCA is taking multiple initiatives for its domestic formulation (DF) segment, such as cardiology portfolio restructuring, Zerodol franchise strengthening, RA focus within pain management, and entry into high-end cosmo-dermatology, to boost its growth prospects.

Ipca Laboratories Ltd. has an average target of 1793.75 from 4 brokers.

Ipca Laboratories Ltd.

06 Mar 2026

1583.00

-1.90%

Ipca Laboratories (IPCA IN) Management Meet Update Steady growth visibility BUY

Buy: Ipca Laboratories Ltd.

Target

Prabhudas Lilladhar

We interacted with the management of IPCA Laboratories (IPCA) to assess its medium-term growth trajectory. The company is prioritizing disciplined execution over aggressive diversification, with a clear focus on strengthening its core businesses while building growth levers. Domestic formulations and branded generics which now contribute 45% of revenues and ~70% of EBITDA, continued to outperform market and grow at healthy levels. We expect IPCA to deliver revenue growth ex Unichem at +11% over FY26-28E with normalization in export generic and API business. This will aid operating...

Ipca Laboratories Ltd. has an average target of 1793.75 from 4 brokers.

Ipca Laboratories Ltd.

17 Feb 2026

1583.00

-1.90%

Ipca Laboratories (IPCA IN) Q3FY26 Result Update Margin surprise BUY

Buy: Ipca Laboratories Ltd.

Recommendation Target

Prabhudas Lilladhar

Ipca reported strong EBITDA of Rs5.3bn (up 19% YoY) which was 10% above our estimates. Company has witnessed 400bps GMs expansion ex Unichme for 9MFY26 which should sustain given product mix and softer raw material prices. Export API business witnessed recovery in 9MFY26 with 26% YoY growth. Domestic formulation business, which now contributes 40% of revenues and ~55% of EBITDA, continued to outperform and grow at healthy levels. We believe 1) recovery in API segment 2) higher margins ex Unichem 3) steady...

Ipca Laboratories Ltd. is trading above all available SMAs

Ipca Laboratories Ltd.

17 Feb 2026

1583.00

-1.90%

Ipca Laboratories

Buy: Ipca Laboratories Ltd.

Target

ICICI Direct

Revenue break-up Q3FY26 Formulations: 64% (domestic: 41%, export: 22% - export generic: 11%, export institutional: 2%, export branded: 9%), APIs: 13% (export API: 10%, domestic API: 3%), subsidiaries: 23%...

Ipca Laboratories Ltd. is trading above all available SMAs

Ipca Laboratories Ltd.

16 Feb 2026

1583.00

-1.90%

Branded generics drive earnings

Buy: Ipca Laboratories Ltd.

Target

Motilal Oswal

Ipca Laboratories (IPCA) reported in-line revenue and better-than-expected EBITDA/PAT (10%/12% beat) in 3QFY26, aided by product mix, favorable currency and a lower tax rate.

ICICI Direct increased Buy price target of Ipca Laboratories Ltd. to 1845.0 on 02 Jun, 2026.

Ipca Laboratories Ltd.

17 Nov 2025

1583.00

-1.90%

Ipca Laboratories

Buy: Ipca Laboratories Ltd.

Recommendation Target

ICICI Direct

Q2FY26- Revenues growth a little subdued but margins strongRevenues grew ~9% YoY to 2556.5 crore driven by both domestic formulations and API exports. Domestic formulations grew 8% YoY to 1019 crore, driven by strong traction in pain management but also had some impact on account of GST rate rationalization. Export APIs grew ~45% to 221 crore. Under exports formulations - Branded exports grew ~2% to 145 crore, Institutional exports de-grew 29% YoY to 79.7 crore and generic exports de-grew 6% YoY to 268 crore. EBITDA grew 23.4% YoY to 545 crore while EBITDA margins grew by 257 bps to 21.3% aided...

Ipca Laboratories Ltd. has an average target of 1793.75 from 4 brokers.

Is Ipca Laboratories Ltd. worth buying?

374 Votes:

Buy 80.48%

Sell 9.89%

Hold 9.63%

RESEARCH REPORTS

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Buy SEE REPORTS >

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