Bacil Pharma Limited

Healthcare — Drug Manufacturers - Specialty & Generic · BSE

₹21.41−₹0.54 (−2.46%)

DalalBaazaar Score

56 / 100

🟡 Moderate

Verdict

NEUTRAL

Risk

Low

Driven by micro-cap size, which brings thin liquidity.

In simple words: The business is earning a fairly low return on the money invested in it. Thin profit margins are the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:27 pm

Understanding the Business

Company site ↗

The 60-second version of Bacil Pharma Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Bacil Pharma Limited develops, manufactures, and distributes pharmaceuticals products in India. The company offers pharmaceutical formulations, including tablets, capsules, injectables, ointments, and specialty products.

IndustryDrug Manufacturers - Specialty & Generic

SectorHealthcare

Employees2

Who are its competitors?

The closest listed comparisons in its industry are SUN PHARMACEUTICAL IND L, DR. REDDY S LABORATORIES, CIPLA LTD, DIVI S LABORATORIES LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 4.0% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE14.5%

DalalBaazaar Score

56/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROCE of 4.0% is below 10% — capital is not working hard
✓ ROCE has improved by 13.1 points over the period — returns are strengthening
✗ The business is lossmaking at the net level

Quality vs. Valuation

Company Quality

54/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

62/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

30.6x

1.3Y Median

62.0x

16 monthly readings · mean 52.9x · range 11.4x–89.0x

Sector Median

33.3x

median of 4 sector peers

🟢Current valuation is approximately 51% below its 1.3y median of 62.0x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟡Against its sector it is priced broadly in line with the peer median of 33.3x.

vs. its own history

Cheap

62.0x median over 16 months · -51%

vs. sector peers

Fair

33.3x median of 4 peers · -8%

vs. generic bands

Fair

15x–35x

EV/EBITDA

28.9x

PEG

—

What's Good / What's Bad

🟢 What's Going Well4

Cash flow has turned positive
Free cash flow moved from negative to positive over 3 years.
Return on equity is rising
ROE has improved from -9.3% to 6.3%.
Return on capital is rising
ROCE has improved from -9.1% to 4.0%.
Very low debt
Debt/Equity of 0.22x leaves the balance sheet with plenty of headroom.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

1 item require attention · 1 watch

🟡Shareholders have been dilutedOwnership
Shares outstanding are up 144% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Priced below its own history
The stock trades 51% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Self-funding with balance-sheet headroom
Positive free cash flow of ₹1 Cr alongside low debt means growth, buybacks or dividends need no outside money — and a downturn can be absorbed rather than refinanced.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Free cash flow remains positive✓ ₹1 Cr
Profit that never becomes cash eventually stops being profit.
2ROCE stays above 8%✗ 4.0%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
3Valuation vs its own median of 62.0x✓ 30.6x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

7 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

5 good · 4 neutral · 2 weak

Market Cap

₹31 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

30.6x

Fair

Fairly valued against the generic band

P/B Ratio

1.02x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.7

Profitable

Profitable on a per-share basis

ROE

3.0%

Weak

Weak capital efficiency

ROCE

4.0%

Weak

Low return on total capital employed

Debt/Equity

0.22x

Low

Conservative leverage

Revenue Growth (YoY)

Not available

No data

Source didn't return this field

Profit Growth (YoY)

284.9%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹1 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

ROA

-0.4%

Weak

Assets generate little profit

Operating Margin

0.0%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

1.24

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.15

Defensive

Steadier than the market

52W Range Position

21%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

24.6 / 18.8

Bullish alignment (short > long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

27.6

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
EBITDA	-₹0 Cr	-₹0 Cr	-₹0 Cr	₹1 Cr	—
PAT (Net Profit)	-₹0 Cr	-₹0 Cr	₹0 Cr	₹2 Cr	—
EPS	₹-0.17	₹-0.1	₹0.64	₹1.11	—
ROE	-9.3%	-4.9%	1.6%	6.3%	—
ROCE	-9.1%	-4.8%	1.6%	4.0%	—
Total Debt	₹0 Cr	₹0 Cr	₹0 Cr	—	—
Free Cash Flow	-₹0 Cr	-₹0 Cr	₹0 Cr	₹1 Cr	—

🟢 EBITDA has turned positive, from -₹0 Cr to ₹1 Cr.

🟢 PAT (Net Profit) has turned positive, from -₹0 Cr to ₹2 Cr.

🟢 EPS has turned positive, from ₹-0.17 to ₹1.11.

🟢 ROE has risen from -9.3% to 6.3% over 3 years (+15.5 pts).

🟢 ROCE has risen from -9.1% to 4.0% over 3 years (+13.1 pts).

🟢 Free Cash Flow has turned positive, from -₹0 Cr to ₹1 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹27 Cr

Total Liabilities

₹3 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

₹1 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

63.7%

Peer Comparison

Company	P/E	ROE
SUN PHARMACEUTICAL IND L	34.9x	14.5%
DR. REDDY S LABORATORIES	31.0x	8.8%
CIPLA LTD	31.8x	9.8%
DIVI S LABORATORIES LTD	83.0x	17.5%

Recent News

2 mixed4 general

Top 14 Pharma Stocks To Buy In India October 2026

Samco, 17 Oct

Bacil Pharma Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 29 Aug

Bacil Pharma Q2FY27 Results: Net loss of ₹0.98 lakh, other income ₹9.18 lakh

scanx.trade, 14 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Bacil Pharma Q1 Results FY27: Net Loss Rs 0.02 Cr

Univest, 14 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Bacil Pharma board approves rights issue up to ₹50 Cr

scanx.trade, 18 Jul

Bacil Pharma Incorporates Wholly Owned R&D Subsidiary Bacil Research & Development Pvt Ltd

scanx.trade, 28 Jul

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

StrongFinancial Health · Valuation

MiddlingGrowth · Profitability

WeakBusiness Quality · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you.

1 of 3 tripwires tripped — ROCE stays above 8% · see Key things to watch ↑