Sun Pharmaceutical Industries Ltd.
NSE: SUNPHARMA
Healthcare · Drug Manufacturers - Specialty & Generic
₹1,748.00 last close on 23 Oct 2026 −0.57%
Research updated
Abbott India Ltd.
NSE: ABBOTINDIAHealthcareDrug Manufacturers - Specialty & Generic
- Last close
- ₹25,030.00
- Day change
- −₹330.00 (−1.30%)vs
- Market cap
- ₹54,600 crIndian rupees
- Research updated
- 1 report
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About Abbott India
Abbott India Ltd. is a prominent pharmaceutical company known for its comprehensive range of healthcare products and services. It operates under the umbrella of Abbott Laboratories, focusing on manufacturing and marketing a diverse suite of medicines and nutritional products. Abbott India specializes in therapeutic segments such as women's health, gastroenterology, and neurosciences, contributing significantly to public health and well-being. The company's product portfolio includes branded generics, over-the-counter medications, and advanced nutritional supplements, serving both healthcare professionals and consumers. Situated in India, Abbott India plays a critical role in the Indian healthcare sector, utilizing its broad distribution network to ensure widespread accessibility of its pharmaceutical advancements. The company's commitment to innovation and quality in healthcare makes it a key player in the pharmaceutical industry, addressing diverse medical needs and enhancing patient care across the nation.
- Sector
- Healthcare
- Industry
- Drug Manufacturers - Specialty & Generic
- Listing
- NSE: ABBOTINDIA
- Employees
- 3,679
- Headquarters
- Mumbai, India
- ISIN
- INE358A01014
- Website
- abbott.co.in
Public research · Report of
Business model & financial foundation
Abbott India (NSE: ABBOTINDIA), Pharmaceuticals - domestic branded formulations (MNC): revenue of ₹6,929 crore in FY26 (+8.1% on FY25), an EBITDA margin of 27.3% and net profit of ₹1,552 crore.
- Revenue, FY26 (₹ crore)
- 6,929
- standalone
- Revenue growth, FY26
- +8.1%
- on FY25
- EBITDA margin, FY26
- 27.3%
- EBITDA (Operating EBITDA excluding other income) / revenue
- Net profit, FY26 (₹ crore)
- 1,552
- to owners
- Return on equity, FY26
- 34.5%
- on average equity
- Market capitalisation (₹ crore)
- 57,235
- at the close of 13 Oct 2026
Company profile
Abbott India is the listed, standalone Indian pharmaceutical company controlled by Abbott Laboratories. It sells owned/licensed branded formulations and principal-accounted third-party distribution across gastroenterology, women's health, metabolics, CNS, vaccines and multispecialty. Established brands include Thyronorm, Udiliv and Duphaston. Selective Novo insulin withdrawals create a mix transition, not termination of the partnership; semaglutide brand Extensior launched in FY26. Novo-only revenue and licensing terms are undisclosed.
| Item | Value |
|---|---|
| Legal name | Abbott India Limited |
| Exchange and ticker | NSE: ABBOTINDIA; BSE: 500488 |
| ISIN | INE358A01014 |
| CIN | L24239MH1944PLC007330 |
| Sector | Healthcare |
| Industry | Pharmaceuticals - domestic branded formulations (MNC) |
| Headquarters | Mumbai, India |
| Fiscal year end | March |
| Reporting basis and unit | standalone, in ₹ crore |
| Auditor | Walker Chandiok & Co LLP |
| Market capitalisation | ₹57,235 crore (13 Oct 2026) |
| Shares outstanding | 2.12 crore shares (FY26) |
| Price | ₹25,790 (close, 13 Oct 2026) |
| 52-week range | ₹25,135 - ₹30,655 (to 13 Oct 2026) |
| Website | https://www.abbott.co.in |
Corporate structure and shareholding
Parent: Abbott Laboratories, USA (through group holding entities).
No subsidiary is recorded.
No subsidiaries, associates or joint ventures; standalone accounts are the group accounts. Manufacturing at Goa plant plus third-party loan licensees; large share of portfolio sourced from Abbott group and contract manufacturers.
| Shareholding (% of shares) | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|
| Promoter | 74.99% | 74.99% | 74.99% | |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | |
| Foreign institutions | 0.19% | 0.26% | 0.38% | |
| Domestic institutions | 9.00% | 8.93% | 8.78% | |
| of which mutual funds | 7.65% | 7.68% | 7.44% | |
| Other | 15.83% | 15.81% | 15.85% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Abbott India is a standalone listed company (no subsidiaries) controlled 74.99% by Abbott Laboratories entities. It sells branded formulations in India across GI (Udiliv, Duphalac, Cremaffin), women's health (Duphaston), thyroid/metabolics (Thyronorm), CNS (Vertin), vaccines and multispecialty, and also markets in-licensed Novo Nordisk diabetes brands, booked as principal revenue. It reports a single pharmaceuticals segment. Manufacturing is asset-light (FY26 capex 40.92cr against revenue 6,929cr); most supply is purchased stock-in-trade (FY26 purchases 3,164cr). Group goods purchases were 6.7% of FY26 revenue.
| Peer | Why the dossier compares them |
|---|---|
| Sanofi India (SANOFI) | MNC pharma subsidiary in Indian branded formulations, chronic and VMS portfolio, high payout, net cash |
| Pfizer Ltd (PFIZER) | MNC pharma subsidiary, domestic branded formulations, net cash |
| GlaxoSmithKline Pharmaceuticals (GLAXO) | MNC pharma subsidiary, domestic branded, high payout |
| Torrent Pharmaceuticals (TORNTPHARM) | |
| Mankind Pharma (MANKIND) | |
| JB Chemicals & Pharmaceuticals (JBCHEPHARM) | |
| Procter & Gamble Health (PGHL) | MNC subsidiary in vitamins/consumer health, net cash, high payout |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from operations | 4,910 | 5,347 | 5,849 | 6,409 | 6,929 |
| Cost of revenue (vendor classification) * | 2,667 | 2,984 | 3,232 | 3,511 | 3,706 |
| Other operating costs (vendor classification) * | 574.4 | 583.7 | 563.0 | 593.9 | 653.3 |
| EBITDA (vendor classification) * | 1,166 | 1,359 | 1,700 | 1,975 | 2,173 |
| EBIT * | 1,099 | 1,290 | 1,630 | 1,898 | 2,104 |
| Finance costs | 19.1 | 16.0 | 12.5 | 11.4 | 25.0 |
| Profit before tax | 1,080 | 1,274 | 1,618 | 1,887 | 2,079 |
| Total tax expense | 281.0 | 324.4 | 416.5 | 472.5 | 527.3 |
| Profit for the year (standalone) | 798.7 | 949.4 | 1,201 | 1,414 | 1,552 |
| Diluted EPS (equals basic EPS) (₹) | 375.9 | 446.8 | 565.3 | 665.6 | 730.4 |
| Other income | 248.3 | 275.6 | 288.1 | ||
| Cost of materials consumed | 565.7 | 621.1 | 613.9 | ||
| Purchases of stock-in-trade | 2,647 | 3,056 | 3,164 | ||
| Changes in finished goods, WIP and stock-in-trade inventories | 7.73 | -180.7 | -85.3 | ||
| Materials, traded purchases and inventory change | 3,221 | 3,497 | 3,693 | ||
| Employee benefits expense | 576.6 | 587.5 | 668.8 | ||
| Other expenses | 598.6 | 630.2 | 675.3 | ||
| Operating EBITDA excluding other income | 1,453 | 1,695 | 1,892 | ||
| Depreciation and amortisation expense | 71.2 | 71.8 | 76.0 | ||
| Exceptional items | 0.00 | 0.00 | 0.00 | ||
| Basic EPS (₹) | 565.3 | 665.6 | 730.4 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity | 2,820 | 3,189 | 3,699 | 4,233 | 4,774 |
| Debt: lease liabilities only | 151.7 | 113.2 | 83.2 | 196.7 | 172.0 |
| Cash and cash equivalents | 132.7 | 239.7 | 291.7 | 560.6 | 442.3 |
| Trade receivables | 288.2 | 318.8 | 319.1 | 380.2 | 361.7 |
| Inventories | 687.8 | 648.9 | 619.6 | 882.0 | 947.3 |
| Trade payables | 889.5 | 892.0 | 1,003 | 1,058 | 1,107 |
| PPE excluding right-of-use assets | 262.4 | 229.4 | 218.3 | 133.6 | 162.2 |
| Capital work-in-progress excluding capital advances | 0.66 | 3.66 | 10.1 | 18.1 | 5.51 |
| Total assets * | 4,224 | 4,556 | 5,193 | 5,917 | 6,502 |
| Financial investments excluding bank deposits | 0.00 | 0.00 | |||
| Current term deposits excluding cash equivalents | 2,553 | 1,790 | |||
| Noncurrent bank term deposits | 672.0 | 2,178 | |||
| Cash equivalents plus all bank term deposits | 3,785 | 4,410 | |||
| Other bank balances including margins and dividend balances | 1,066 | 1,813 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net operating cash flow after tax | 1,045 | 1,177 | 1,213 | 1,012 | 1,319 |
| Free cash flow (vendor definition) * | 903.6 | 859.3 | 1,164 | 959.2 | 1,278 |
| Dividends paid (cash outflow negative) | -584.4 | -584.4 | -690.6 | -871.2 | -1,009 |
| Gross PPE/intangible purchases (cash outflow negative) | -43.8 | -33.6 | -48.3 | -52.6 | -40.9 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shares outstanding | 2.12 | 2.12 | 2.12 | 2.12 | 2.12 |
| Fiscal-year DPS including special (₹) | 410.0 | 475.0 | 656.0 |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,633 | 1,614 | 1,605 | 1,738 | 1,757 | 1,724 | 1,710 | 1,814 |
| Cost of revenue (vendor classification) * | 901.8 | 892.7 | 870.2 | 942.1 | 936.9 | 908.8 | 905.0 | 931.6 |
| Other operating costs (vendor classification) * | 144.6 | 150.8 | -202.1 | 182.6 | 159.2 | 155.7 | 177.9 | 184.4 |
| EBITDA (vendor classification) * | 499.4 | 507.8 | 504.6 | 518.4 | 572.1 | 533.2 | 556.4 | 597.9 |
| EBIT * | 481.9 | 489.9 | 486.6 | 499.0 | 553.5 | 514.5 | 537.4 | 578.1 |
| Finance costs | 2.50 | 2.26 | 3.92 | 5.82 | 7.55 | 5.48 | 6.14 | 5.91 |
| Profit before tax | 479.4 | 487.6 | 482.7 | 493.1 | 545.9 | 509.0 | 531.2 | 572.2 |
| Total tax expense | 120.8 | 126.8 | 115.7 | 127.3 | 130.7 | 133.0 | 136.3 | 143.7 |
| Profit for the period (standalone) | 358.6 | 360.8 | 367.0 | 365.9 | 415.3 | 376.0 | 394.9 | 428.5 |
| Diluted EPS (equals basic EPS) (₹) | 168.8 | 169.8 | 172.7 | 172.2 | 195.4 | 176.9 | 185.9 | 201.7 |
| Other income | 60.5 | 71.8 | 76.0 | 72.8 | 70.0 | 69.8 | 75.6 | 75.4 |
| Cost of materials consumed | 172.1 | 116.1 | 186.7 | 146.2 | 162.6 | 147.3 | 157.8 | 150.6 |
| Purchases of stock-in-trade | 738.5 | 749.2 | 787.4 | 868.8 | 733.3 | 752.6 | 809.5 | 812.1 |
| Changes in finished goods, WIP and stock-in-trade inventories | -8.79 | 27.4 | -118.1 | -72.9 | 40.9 | 8.92 | -62.3 | -31.1 |
| Materials, traded purchases and inventory change | 901.8 | 892.7 | 856.0 | 942.1 | 936.9 | 908.8 | 905.0 | 931.6 |
| Employee benefits expense | 147.4 | 134.7 | 144.4 | 168.0 | 159.0 | 196.1 | 145.8 | 175.2 |
| Other expenses | 144.6 | 150.8 | 175.7 | 182.6 | 159.2 | 155.7 | 177.9 | 184.4 |
| Operating EBITDA excluding other income | 439.0 | 436.1 | 428.5 | 445.6 | 502.2 | 463.5 | 480.9 | 522.5 |
| Depreciation and amortisation expense | 17.5 | 18.0 | 17.9 | 19.5 | 18.6 | 18.8 | 19.1 | 19.8 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Basic EPS (₹) | 168.8 | 169.8 | 172.7 | 172.2 | 195.4 | 176.9 | 185.9 | 201.7 |
Standalone, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 14.0% | 8.9% | 9.4% | 9.6% | 8.1% |
| EBITDA margin | 24.8% | 26.4% | 27.3% | ||
| Net margin | 16.3% | 17.8% | 20.5% | 22.1% | 22.4% |
| Return on equity | 29.5% | 31.6% | 34.9% | 35.7% | 34.5% |
| Return on capital employed | 38.4% | 41.1% | 46.0% | 46.2% | 44.9% |
| Return on assets | 19.8% | 21.6% | 24.6% | 25.5% | 25.0% |
| Borrowings less cash (₹ crore) | 19.0 | -126.5 | -208.5 | -363.9 | -270.3 |
| Borrowings less cash / EBITDA | -0.14x | -0.21x | -0.14x | ||
| Interest cover | 57.5x | 80.7x | 130.9x | 166.1x | 84.2x |
| Asset turnover | 1.22x | 1.22x | 1.20x | 1.15x | 1.12x |
| Receivable days | 21 | 22 | 20 | 22 | 19 |
| Inventory days (on revenue) | 51 | 44 | 39 | 50 | 50 |
| Payable days (on revenue) | 66 | 61 | 63 | 60 | 58 |
| Cash conversion | 1.31x | 1.24x | 1.01x | 0.72x | 0.85x |
| Capex intensity | 0.9% | 0.6% | 0.8% | 0.8% | 0.6% |
| Free cash flow (₹ crore) | 1,001 | 1,143 | 1,164 | 959.2 | 1,278 |
| Dividend payout | 73.2% | 61.5% | 57.5% | 61.6% | 65.0% |
| EPS, diluted (₹) | 375.9 | 446.8 | 565.3 | 665.6 | 730.4 |
| Book value per share (₹) | 1,327 | 1,501 | 1,741 | 1,992 | 2,247 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA (Operating EBITDA excluding other income) / revenue.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on capital employed: EBIT / average equity plus borrowings.
- Return on assets: net profit to owners / average total assets.
- Borrowings less cash (₹ crore): borrowings less cash and cash equivalents, with no investments netted; negative is cash beyond borrowings.
- Borrowings less cash / EBITDA: borrowings less cash / EBITDA (Operating EBITDA excluding other income).
- Interest cover: EBIT / finance cost.
- Asset turnover: revenue / average total assets.
- Receivable days: receivables / revenue x 365.
- Inventory days (on revenue): inventory / revenue x 365.
- Payable days (on revenue): payables / revenue x 365.
- Cash conversion: cash from operations / net profit to owners.
- Capex intensity: capital expenditure / revenue.
- Free cash flow (₹ crore): cash from operations less capital expenditure.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS (equals basic EPS)).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 13 Oct 2026); market data at the close of 13 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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What the full research on Abbott India includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
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Report history
Reports on Abbott India
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Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 13 Oct 2026; page updated 25 Oct 2026.
Mool’s research is written by AI agents and published by Mool Capital Private Limited, a SEBI-registered Research Analyst, registration INH000012449, which is responsible for it. This page shows factual company information and an excerpt of that research; it carries no rating and is not investment advice for any individual. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Read the disclosures.