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Sakar Healthcare Ltd

SAKAR
NSE
625.65
4.06%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Sakar Healthcare Ltd

SAKAR
NSE
625.65
4.06%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
1,392Cr
Close
Close Price
625.65
Industry
Industry
Hospitals
PE
Price To Earnings
54.93
PS
Price To Sales
6.03
Revenue
Revenue
231Cr
Rev Gr TTM
Revenue Growth TTM
35.49%
PAT Gr TTM
PAT Growth TTM
69.72%
Peer Comparison
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SAKAR
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
413934374341434350535870
Growth YoY
Revenue Growth YoY%
11.136.711.011.25.95.525.516.616.728.234.562.0
Expenses
ExpensesCr
333025283230313235404652
Operating Profit
Operating ProfitCr
89991111121216131119
OPM
OPM%
19.123.227.524.225.526.026.927.131.324.119.726.4
Other Income
Other IncomeCr
221010000011
Interest Expense
Interest ExpenseCr
222221214222
Depreciation
DepreciationCr
454455555666
PBT
PBTCr
4443555565511
Tax
TaxCr
011122010111
PAT
PATCr
4342325565510
Growth YoY
PAT Growth YoY%
-56.2-1.487.6-48.4-20.4-15.131.9118.884.693.8-5.4126.3
NPM
NPM%
9.67.310.75.67.35.911.210.411.58.87.914.6
EPS
EPS
2.01.51.71.01.51.12.22.12.72.12.04.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
8395128133153178231
Growth
Revenue Growth%
14.235.44.015.015.830.0
Expenses
ExpensesCr
637299100115128173
Operating Profit
Operating ProfitCr
20232933385058
OPM
OPM%
23.623.922.924.925.028.025.3
Other Income
Other IncomeCr
2125312
Interest Expense
Interest ExpenseCr
22368910
Depreciation
DepreciationCr
781015182123
PBT
PBTCr
12131917162228
Tax
TaxCr
3344443
PAT
PATCr
10111513121825
Growth
PAT Growth%
11.042.1-15.9-8.550.044.1
NPM
NPM%
11.611.311.89.67.69.910.9
EPS
EPS
6.46.98.86.65.68.011.4

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
15161719222222
Reserves
ReservesCr
6683110154236261281
Current Liabilities
Current LiabilitiesCr
14334754596387
Non Current Liabilities
Non Current LiabilitiesCr
204694109676758
Total Liabilities
Total LiabilitiesCr
115178268336389415449
Current Assets
Current AssetsCr
22345056728995
Non Current Assets
Non Current AssetsCr
93144218280317327354
Total Assets
Total AssetsCr
115178268336389415449

Cash Flow

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
191536332434
Investing Cash Flow
Investing Cash FlowCr
-22-47-90-74-52-31
Financing Cash Flow
Financing Cash FlowCr
332554127-3
Net Cash Flow
Net Cash FlowCr
000000
Free Cash Flow
Free Cash FlowCr
6-21-62-49-352
CFO To PAT
CFO To PAT%
196.0136.4235.2261.4209.6194.4
CFO To EBITDA
CFO To EBITDA%
96.564.5121.7100.663.868.5

Ratios

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
75177231382801465
Price To Earnings
Price To Earnings
7.816.515.229.968.626.6
Price To Sales
Price To Sales
0.91.91.82.95.22.6
Price To Book
Price To Book
0.91.81.82.23.11.6
EV To EBITDA
EV To EBITDA
4.69.610.914.922.710.9
Profitability Ratios
Profitability Ratios
GPM
GPM%
48.146.042.044.945.453.7
OPM
OPM%
23.623.922.924.925.028.0
NPM
NPM%
11.611.311.89.67.69.9
ROCE
ROCE%
15.111.310.18.07.28.4
ROE
ROE%
11.810.811.97.44.56.2
ROA
ROA%
8.46.05.73.83.04.2
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Sakar Healthcare Limited, established in 2004 by entrepreneur Mr. Sanjay Shah and headquartered in Changodar, Ahmedabad, Gujarat, is a rapidly evolving Indian pharmaceutical company with a strong focus on oncology, antibiotics, and general formulations. From its origins as a contract manufacturer of oral liquid formulations, the company has strategically transformed into a **vertically integrated, research-driven pharmaceutical player**, recognized among India’s **Top 10 oncology drug manufacturers (India Pharma Outlook, 2024)**. Sakar operates **EU-GMP and WHO-GMP certified manufacturing facilities** across 39,121 sq. meters in Bavla and Changodar, Gujarat, producing a wide array of dosage forms including oral solids, liquids, sterile injectables, lyophilized products, dry powder injections, and high-potency APIs. --- ### **Core Business Segments & Diversified Revenue Model** Sakar Healthcare follows a **multi-pronged business strategy**, ensuring stable and scalable revenue streams: 1. **Contract Development & Manufacturing (CDMO/CMO)** - Partners with leading multinational and Indian pharmaceutical companies including **Zydus Lifesciences, Glenmark, Intas, Emcure, Dr. Reddy’s, Biocon, and Ferring Pharmaceuticals**. - Offers **end-to-end services** from R&D and process optimization to regulatory dossier preparation and commercial manufacturing under **global compliance standards (EMA, USFDA)**. - Serves as a **premium CDMO in oncology** with integrated API capabilities, supporting tech transfer, bioequivalence studies, and large-scale production. 2. **Own-Brand Exports** - Exports own-branded formulations to **over 60 countries** across APAC, Latin America, Africa, CIS, Europe, and MENA. - Approximately **70% of exports are under the company’s own brands**, enhancing margin capture and brand equity. - Key export markets include the **UK, EU, Canada, Africa, Latin America, Southeast Asia, and GCC**. 3. **Technology Transfer & Licensing (CRAMS, LSA, Profit Sharing)** - Engages in **co-development, loan licensing (LSA), out-licensing, and profit-sharing models** globally. - Has executed **multiple technology transfers** for major Indian pharma firms and developed **32+ eCTD/CTD dossiers** compliant with EU/US regulations. 4. **Pipeline & Product Development** - Focuses on **non-infringing patent products and complex generics**, particularly in high-barrier therapeutic areas like oncology. - Leverages **proprietary processes and green chemistry** to differentiate products and reduce environmental impact. --- ### **Oncology: The Strategic Growth Driver** Oncology is the **core of Sakar’s transformation** and long-term value creation, positioning the company as a **global niche player in anti-cancer therapeutics**. #### **Key Oncology Highlights (as of Nov 2025):** - **Vertically Integrated API-to-FDF Facility** in Bavla, Gujarat: - One of the **few research-driven, API-integrated oncology plants in India**. - EU-GMP and WHO-GMP certified with **OEL Level 4 containment** for safe handling of cytotoxic compounds. - Annual capacities: - **12.3 MT of oncology APIs** - **97 million tablets & 29 million capsules** - **13 million vials of sterile injectables** - **9,600 kg high-potency API capacity** - **Regulatory Milestones**: - **11 granted Marketing Authorizations (MAs)** globally, including **5 in Europe (Bulgaria, Bosnia)** and 5 in emerging markets (SE Asia, Latin America). - Approved products: **Carboplatin, Docetaxel, Irinotecan, Gemcitabine (lyophilized), Tamoxifen, Imatinib, Capecitabine**, etc. - Targets multiple cancers: ovarian, lung, breast, prostate, colorectal, blood cancers (leukemia), multiple myeloma. - **Intellectual Property & Innovation**: - **First granted patent (2024)**: Process patent for **Imatinib (Indian Patent No. 488161)** — a tyrosine kinase inhibitor for chronic myelogenous leukemia. - Developing **21 in-house oncology APIs**, with **16 regulatory confirmations** and **7 pending CEP applications**. - Co-developing **non-infringing, patent-protected oncology molecules** with partners in Greece and Switzerland. - **Advanced Drug Delivery Platforms**: - **Liposomal technologies**: Commercialized **Pegylated Liposomal Doxorubicin (Doxil®/Caelyx® equivalent)**; also developed **Daunorubicin, Paclitaxel, and Tretinoin** in liposomal form. - **HME (Hot-Melt Extrusion)**: Enhancing solubility of poorly soluble drugs like **apalutamide, enzalutamide, and olaparib**. - **Flow Chemistry (Vapourtech, UK)**: For improved yield, safety, and sustainability in complex synthesis. - **Regulatory Pipeline**: - **32 dossiers ready for launch**, with **80+ dossiers submitted globally**. - Awaiting **additional MA approvals** in EU and regulated markets, expected within the next few quarters. - **292+ product registrations**, with **over 40 active discussions** for new supply and out-licensing partnerships. --- ### **Manufacturing & Technology** - **4 state-of-the-art manufacturing units** producing over **22 therapeutic categories** (including anti-infectives, PPIs, antifungals, anticoagulants). - **Advanced Equipment & Technologies**: - **TOFFLON lyophilizers** (automated ORABS), **Di-Dietrich glass reactors**, **GEA granulation lines**, **Lipex Flow Pump for liposomal extrusion**. - Compliance with **green chemistry principles**, **zero liquid discharge (ZLD)**, and **solar power systems**. - **In-House Capabilities**: - Full **EU/US FDA-compliant CTD dossier development**. - Bioequivalence studies through EMA/USFDA-approved CROs. - **Analytical, formulation, and R&D labs** integrated within the site. --- ### **Global Market Strategy** Sakar employs a **region-specific commercial model** to maximize market access and profitability: | Region | Strategy | |-------|--------| | **EU & UK** | Licensing & supply for oral solids | | **MENA** | CDMO for oncology oral liquids | | **Africa** | MAH & distribution for liquid injections | | **Latin America & Canada** | Profit-sharing for lyophilized injections | | **APAC** | Co-development and tech transfer for bulk drugs | | **CIS** | Focus on oncology APIs | - Active partnerships with **75+ international firms**, including **Accord Healthcare, Ferring, PharOS, Dr. Reddy’s, Biocon, Emcure**, and top-20 pharma companies. - **49 active agreements** covering **277 oncology SKUs** under CDMO, CMO, out-licensing, and profit-sharing models. --- ### **Strategic Milestones & Recognition** - **Mar 2024**: EU GMP approval for oral solids and injectables at Bavla oncology unit. - **Apr 2019**: Migrated from NSE SME Platform to **Main Board (NSE: SAKAR)**. - **Aug 2024**: Oncology unit recognized by **DSIR** for R&D excellence. - **2024**: Ranked **Top 10 Oncology Drug Manufacturer in India** by *India Pharma Outlook*. --- ### **Leadership & Operations** - **Founder & Chairman**: Mr. Sanjay Shah — over two-decade-long experience in pharmaceuticals. - **Strong Customer Base**: Top 5 customers (engaged >5 years) account for **45.4% of FY21 revenue**, reflecting deep client integration and reliability. - **Workforce**: Over **300 employees**; skilled scientific and regulatory teams. ---