| Warrant Count | 72 CrTo Promoters |
|---|---|
| Market Cap | ₹857 CrSmall Cap |
| Net Profit YoY | 93.32%Sept 2026 Qtr |
| PE TTM | 36.78Sector PE 34.09 |
Key highlights
- Board approved up to 72,00,00,000 warrants convertible into equity shares
- Warrants to be issued to promoters Mr. Hemal Mehta and Mr. Sachin Mehta
- Pricing to be determined as per SEBI Regulation 164 for preferential issues
- Net profit surged 93.32% YoY to ₹8.09 crore in the quarter ended Sept 2026
- The move is subject to approval at an Extraordinary General Meeting (EGM)
Preferential Issue to Promoter Group
The Board of Directors of Sudarshan Pharma Industries has greenlit a significant capital raising exercise through the preferential allotment of 72 crore warrants. These instruments are earmarked for promoters Mr. Hemal Mehta and Mr.
Sachin Mehta. Each warrant is convertible into one equity share with a face value of Re 1. While the total transaction value is not yet fixed, the pricing will be established in accordance with Regulation 164 of the SEBI ICDR Regulations.
The issuance is intended to strengthen the company's capital base as it pursues multiple manufacturing and acquisition milestones over the next two fiscal years.
Strong Q2 Performance Supports Expansion
- Operating revenue for the September 2026 quarter reached ₹216.97 crore, up 28.5% YoY
- Net profit grew to ₹8.09 crore, representing a 93.3% increase from the previous year
- Operating profit margins expanded to 9.5% from 5.5% in the same period last year
- Trailing twelve-month (TTM) net profit stands at ₹29.03 crore
- Promoter holding remains at 57.81% prior to the potential warrant conversion
Strategic Roadmap and Previous Fund Raises
This warrant issuance is part of a broader financial strategy; the company recently approved a massive ₹1,500 crore fundraise via Foreign Currency Convertible Bonds (FCCBs) on October 29, 2026. This follows a USD 10 million FCCB allotment in May 2026 and an earlier approval to increase borrowing limits to ₹2,500 crore. These funds are likely to support the commissioning of a new API manufacturing facility at Mahad by March 2026 and the acquisition of a 9.50% stake in US-based MedTherapy Biotechnology Inc.
by March 2027. Additionally, the Ratna Lifesciences facility is scaling toward a 15 MT capacity to capture a ₹60 crore annual revenue potential.
| Date | Announcement | Amount |
|---|---|---|
| 29 Oct 2026 | Board approval for fund raising via Foreign Currency Convertible Bonds (FCCBs) and other securitiesSource: investorfeed.in | ₹1,500.00 Cr |
| 21 May 2026 | Allotment of 8.00% Senior Unsecured Foreign Currency Convertible Bonds (FCCBs) due 2029 (USD 10 million)Source: investorfeed.in | ₹96.84 Cr |
| 15 May 2026 | Board approval for issuance of Foreign Currency Convertible Bonds (FCCBs) up to USD 20 millionSource: BSE filing | ₹191.86 Cr |
| 19 Jun 2025 | Board approval for fund raising via issuance of equity shares and/or eligible securitiesSource: market data.com | ₹1,500.00 Cr |
| 14 Jun 2025 | Shareholders' approval to increase borrowing limit and create charges on assetsSource: stockscans.in | ₹2,500.00 Cr |
| 10 Jan 2025 | Board approval for preferential issue of up to 4.30 crore fully convertible warrantsSource: zerodha.com | ₹188.00 Cr |
What to watch next
- Announcement of the Extraordinary General Meeting (EGM) date for shareholder approval
- Commissioning of the Mahad API manufacturing facility by March 31, 2026
- Completion of the 9.50% equity stake acquisition in MedTherapy Biotechnology by March 31, 2027
- Pricing determination for the warrants based on SEBI ICDR Regulation 164
| Share price | ₹35.61 |
|---|---|
| Market capitalisation | ₹856.99 Cr |
| Revenue (annual) | ₹703.06 Cr |
| Net profit (annual) | ₹23.30 Cr |
| Revenue (latest quarter) | ₹216.97 Cr+24.40% vs previous quarter |
| Net profit (latest quarter) | ₹8.09 Cr+38.13% vs previous quarter |
| P/E (TTM) | 36.78×Sector 34.09× |
| Promoter holding | 57.81%-1.12% QoQ |
| FII holding | 21.94%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Sudarshan Pharma Industries Ltd announcing the outcome of the Board Meeting held on October 29, 2026. Market figures from a third-party data provider.
