Pharmaceuticals & Drugs · Founded 1990 · www.bdhind.com · BSE 524828 · NSE BDH INDUS. · ISIN INE278D01018
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Business
BDH Industries Ltd., operating in the Pharmaceuticals & Drugs sector in India, is primarily engaged in the research, development, manufacturing, marketing, and sale of pharmaceutical products. Typically, companies in this sector produce a range of formulations (finished dosage forms like tablets, capsules, liquids, injectables) and potentially Active Pharmaceutical Ingredients (APIs) or intermediates. The company generates revenue by selling these pharmaceutical products to various markets, including domestic retail chains, hospitals, government tenders, and potentially through exports to other countries.
Revenue Mix
Specific key segments and their revenue contribution for BDH Industries Ltd. are not available. In the Pharmaceuticals & Drugs sector, common segments often include:
Formulations: Categorized by therapeutic areas (e.g., anti-infectives, cardiology, pain management, central nervous system).
Active Pharmaceutical Ingredients (APIs): Raw materials for drug manufacturing.
Contract Manufacturing & Research Services (CRAMS): Providing services to other pharma companies.
Without specific data, it is not possible to detail BDH's revenue mix or primary therapeutic focus.
Industry
The Indian Pharmaceuticals & Drugs industry is highly diverse, competitive, and significantly regulated. It is one of the world's largest producers of generic medicines. The industry structure includes large multinational corporations, major domestic players, and numerous small to mid-sized companies. Positioning typically depends on factors like product portfolio strength (generics vs. specialty vs. patented drugs), therapeutic focus, manufacturing capabilities, R&D pipeline, domestic market share, and export presence (especially in regulated markets like the US and Europe). Specific information on BDH Industries Ltd.'s market share, competitive standing, or niche within this industry is not available.
MOAT
Without specific details, it is difficult to ascertain the exact competitive advantages of BDH Industries Ltd. Potential moats in the pharmaceuticals sector generally include:
Intellectual Property (Patents): For innovative drugs.
Manufacturing Scale & Cost Efficiency: Ability to produce at lower costs.
Regulatory Expertise & Compliance: Strong track record in navigating complex regulatory approvals.
Established Distribution Network: Extensive reach in domestic and international markets.
Brand Equity & Doctor Prescriber Loyalty: Particularly for established branded generics or specialty drugs.
Proprietary APIs or Difficult-to-Manufacture Products: Niche expertise.
Whether BDH possesses any of these durable advantages would depend on its specific operations, product portfolio, and market strategy.
Growth Drivers
Key factors that could drive growth for a pharmaceutical company in India over the next 3-5 years include:
Rising Healthcare Expenditure: Increasing disposable incomes and government focus on healthcare.
Growing Disease Burden: Increase in lifestyle diseases and communicable diseases.
Genericization Opportunities: Patent expirations of innovator drugs creating opportunities for generic manufacturers.
Government Initiatives: Schemes like Ayushman Bharat promoting wider access to healthcare and medicines.
Increasing Exports: Demand for affordable generics from developing and regulated markets.
Focus on Specialty & Biologics: Moving up the value chain.
Digitalization in Healthcare: Adoption of telemedicine and digital health solutions.
Risks
Potential risks for BDH Industries Ltd., common within the Pharmaceuticals & Drugs sector, include:
Regulatory Changes: Stricter pricing controls, evolving drug approval processes, and compliance requirements (e.g., Good Manufacturing Practices).
Intense Competition: Price erosion due to strong competition from domestic and international players.
R&D Failure & Pipeline Risk: High costs and uncertainty associated with drug development.
Intellectual Property Disputes: Challenges related to patents and trade secrets.
Supply Chain Disruptions: Dependency on raw materials, especially from specific geographies.
Foreign Exchange Fluctuations: For companies involved in exports or importing raw materials.
Product Recalls & Litigation: Risks associated with product quality or safety issues.
Management & Ownership
Specific details regarding the promoters, management quality, or precise ownership structure of BDH Industries Ltd. are not available. In India, many companies, especially in the mid-cap segment, are promoter-led, meaning the founding family or group maintains significant ownership and management control. The quality of management is typically assessed based on their strategic vision, execution capabilities, corporate governance practices, and financial track record, none of which can be evaluated without further information.
Outlook
BDH Industries Ltd. operates within the dynamic and growing Indian pharmaceutical sector, which benefits from strong underlying demand drivers such as increasing healthcare access and a rising disease burden. Companies focused on cost-efficient manufacturing, R&D for complex generics, or niche therapeutic areas can find significant growth opportunities. However, the sector is also characterized by intense competition, stringent regulatory oversight, and potential pricing pressures. Sustained success would depend on the company's ability to maintain a robust product pipeline, ensure regulatory compliance, manage costs effectively, and navigate the evolving competitive landscape.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 21 | 27 | 16 | 16 | 16 | 18 | 19 | 19 | 29 | 29 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Total Income | 21 | 28 | 17 | 17 | 17 | 18 | 19 | 20 | 30 | 30 |
| Total Expenditure | 18 | 23 | 14 | 13 | 13 | 15 | 17 | 16 | 25 | 25 |
| Operating Profit | 4 | 4 | 2 | 3 | 4 | 4 | 3 | 4 | 5 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 4 | 4 | 2 | 3 | 4 | 3 | 2 | 4 | 5 | 5 |
| Provision for Tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit After Tax | 3 | 3 | 2 | 2 | 3 | 2 | 2 | 3 | 3 | 3 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 3 | 3 | 2 | 2 | 3 | 2 | 2 | 3 | 3 | 3 |
| Adjusted Earnings Per Share | 4.8 | 5.1 | 2.7 | 4.2 | 4.9 | 4.3 | 3.2 | 4.5 | 6.1 | 5 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 45 | 46 | 44 | 41 | 52 | 59 | 57 | 69 | 74 | 86 | 67 | 96 |
| Other Income | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 4 |
| Total Income | 46 | 48 | 45 | 42 | 53 | 60 | 59 | 70 | 75 | 87 | 68 | 99 |
| Total Expenditure | 41 | 42 | 39 | 36 | 45 | 51 | 49 | 60 | 64 | 73 | 55 | 83 |
| Operating Profit | 5 | 6 | 6 | 6 | 8 | 10 | 10 | 10 | 12 | 14 | 13 | 17 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 4 | 5 | 5 | 5 | 7 | 8 | 9 | 10 | 11 | 13 | 12 | 16 |
| Provision for Tax | 1 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 5 |
| Profit After Tax | 3 | 3 | 3 | 4 | 5 | 6 | 6 | 7 | 8 | 10 | 9 | 11 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 3 | 3 | 3 | 4 | 5 | 6 | 6 | 7 | 8 | 10 | 9 | 11 |
| Adjusted Earnings Per Share | 4.5 | 5.6 | 5.8 | 6.5 | 8.4 | 10.3 | 11 | 12.5 | 14.3 | 17.1 | 16.1 | 18.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -22% | -1% | 3% | 4% |
| Operating Profit CAGR | -7% | 9% | 5% | 10% |
| PAT CAGR | -10% | 9% | 8% | 12% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 45% | 36% | 29% | 16% |
| ROE Average | 14% | 16% | 16% | 15% |
| ROCE Average | 18% | 20% | 20% | 18% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 24 | 27 | 29 | 31 | 34 | 38 | 43 | 49 | 55 | 62 | 69 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Current Liabilities | 27 | 24 | 23 | 24 | 30 | 26 | 27 | 20 | 25 | 31 | 17 |
| Total Liabilities | 52 | 52 | 54 | 57 | 66 | 65 | 71 | 69 | 80 | 93 | 87 |
| Fixed Assets | 13 | 13 | 23 | 23 | 22 | 21 | 20 | 20 | 19 | 20 | 20 |
| Other Non-Current Assets | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
| Total Current Assets | 38 | 35 | 31 | 34 | 44 | 44 | 51 | 49 | 60 | 73 | 67 |
| Total Assets | 52 | 52 | 54 | 57 | 66 | 65 | 71 | 69 | 80 | 93 | 87 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 18 | 21 | 20 | 19 | 17 | 17 | 23 | 23 | 19 | 26 | 25 |
| Cash Flow from Operating Activities | 6 | 4 | 7 | -0 | -4 | 11 | 1 | 3 | 6 | -2 | 15 |
| Cash Flow from Investing Activities | -0 | -5 | -5 | 0 | 1 | 1 | 1 | 1 | 0 | -0 | 2 |
| Cash Flow from Financing Activities | -3 | -1 | -3 | -3 | 3 | -6 | -2 | -8 | 0 | 1 | -10 |
| Net Cash Inflow / Outflow | 3 | -1 | -1 | -2 | 0 | 6 | -0 | -4 | 7 | -1 | 6 |
| Closing Cash & Cash Equivalent | 21 | 20 | 19 | 17 | 17 | 23 | 23 | 19 | 26 | 25 | 31 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 4.46 | 5.6 | 5.8 | 6.54 | 8.39 | 10.32 | 11.05 | 12.55 | 14.25 | 17.14 | 16.11 |
| CEPS(Rs) | 5.76 | 6.88 | 7.04 | 7.85 | 9.83 | 11.99 | 12.42 | 13.64 | 15.24 | 18.14 | 17.68 |
| DPS(Rs) | 1.7 | 2 | 2 | 2.25 | 2.75 | 2.5 | 3 | 3.6 | 4 | 4.5 | 4.5 |
| Book NAV/Share(Rs) | 39.03 | 44.63 | 48.02 | 51.56 | 56.94 | 63.74 | 72.15 | 82.07 | 92.71 | 105.67 | 117.14 |
| Core EBITDA Margin(%) | 8.43 | 8.74 | 10.77 | 13.06 | 13.55 | 15.09 | 14.82 | 13.08 | 14.71 | 14.48 | 17.45 |
| EBIT Margin(%) | 9.48 | 11.01 | 11.95 | 13.22 | 13.66 | 14.81 | 15.71 | 14.09 | 15.08 | 15.65 | 18.85 |
| Pre Tax Margin(%) | 8.41 | 10.3 | 11.17 | 12.61 | 12.66 | 13.65 | 15.22 | 13.77 | 14.86 | 15.44 | 18.75 |
| PAT Margin (%) | 5.69 | 6.9 | 7.48 | 9.17 | 9.34 | 9.99 | 11.07 | 10.41 | 11.02 | 11.5 | 13.94 |
| Cash Profit Margin (%) | 7.34 | 8.47 | 9.08 | 11 | 10.94 | 11.61 | 12.44 | 11.32 | 11.78 | 12.17 | 15.3 |
| ROA(%) | 5.15 | 6.23 | 6.27 | 6.77 | 7.88 | 9.08 | 9.35 | 10.33 | 11.02 | 11.38 | 10.28 |
| ROE(%) | 11.69 | 13.4 | 12.51 | 13.13 | 15.46 | 17.11 | 16.26 | 16.27 | 16.31 | 17.28 | 14.46 |
| ROCE(%) | 13.25 | 15.39 | 14.9 | 14.74 | 16.94 | 19.14 | 18.74 | 19.61 | 20.84 | 21.03 | 18.18 |
| Receivable days | 71.62 | 69.59 | 65.35 | 67.05 | 69.62 | 72.45 | 83.22 | 78.12 | 76.39 | 95.68 | 116.74 |
| Inventory Days | 41.06 | 40.56 | 32.06 | 40.56 | 49.35 | 39.04 | 33.16 | 31.92 | 34.01 | 25.86 | 33.99 |
| Payable days | 207.28 | 212.64 | 219.21 | 271.33 | 221.35 | 186.59 | 183.09 | 140.94 | 147.84 | 131.76 | 178.52 |
| PER(x) | 11.64 | 14.81 | 13.51 | 10.7 | 8.85 | 5.19 | 8.36 | 10.66 | 7.92 | 16.45 | 16.33 |
| Price/Book(x) | 1.33 | 1.86 | 1.63 | 1.36 | 1.3 | 0.84 | 1.28 | 1.63 | 1.22 | 2.67 | 2.24 |
| Dividend Yield(%) | 3.27 | 2.41 | 2.55 | 3.22 | 3.7 | 4.67 | 3.25 | 2.69 | 3.55 | 1.6 | 1.71 |
| EV/Net Sales(x) | 0.4 | 0.81 | 0.79 | 0.75 | 0.74 | 0.29 | 0.68 | 0.87 | 0.59 | 1.7 | 1.82 |
| EV/Core EBITDA(x) | 3.55 | 6.33 | 5.67 | 4.99 | 4.88 | 1.75 | 3.98 | 6.06 | 3.72 | 10.41 | 9.02 |
| Net Sales Growth(%) | 4.64 | 3.4 | -5.32 | -6.1 | 26.04 | 15.06 | -3.4 | 20.79 | 7.3 | 15.28 | -22.51 |
| EBIT Growth(%) | 3.18 | 20.33 | 3.64 | 1.82 | 30.06 | 24.75 | 2.48 | 8.33 | 14.79 | 19.66 | -6.65 |
| PAT Growth(%) | 11.83 | 25.55 | 3.42 | 12.83 | 28.29 | 23.04 | 7.02 | 13.58 | 13.59 | 20.27 | -6.02 |
| EPS Growth(%) | 11.83 | 25.55 | 3.42 | 12.83 | 28.29 | 23.04 | 7.02 | 13.58 | 13.59 | 20.27 | -6.02 |
| Debt/Equity(x) | 0.39 | 0.37 | 0.3 | 0.25 | 0.39 | 0.25 | 0.2 | 0.05 | 0.09 | 0.14 | 0.01 |
| Current Ratio(x) | 1.44 | 1.46 | 1.37 | 1.42 | 1.43 | 1.69 | 1.88 | 2.51 | 2.46 | 2.37 | 3.95 |
| Quick Ratio(x) | 1.24 | 1.25 | 1.25 | 1.16 | 1.18 | 1.49 | 1.67 | 2.16 | 2.17 | 2.2 | 3.51 |
| Interest Cover(x) | 8.88 | 15.39 | 15.34 | 21.57 | 13.63 | 12.79 | 32.01 | 43.4 | 71.09 | 74.09 | 171.78 |
| Total Debt/Mcap(x) | 0.3 | 0.2 | 0.19 | 0.19 | 0.3 | 0.3 | 0.16 | 0.03 | 0.07 | 0.05 | 0.01 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 49.66 | 49.66 | 49.66 | 49.66 | 49.66 | 49.66 | 49.7 | 49.7 | 49.7 | 49.7 |
| FII | 0 | 0 | 0.44 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 50.34 | 50.34 | 49.89 | 50.06 | 50.06 | 50.06 | 50.03 | 50.03 | 50.03 | 50.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -22% | -1% | +3% | +4% |
| Operating Profit CAGR | -7% | +9% | +5% | +10% |
| PAT CAGR | -10% | +9% | +8% | +12% |
| Share Price CAGR | +45% | +36% | +29% | +16% |
| ROE Average | +14% | +16% | +16% | +15% |
| ROCE Average | +18% | +20% | +20% | +18% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 49.66 | 49.66 | 49.66 | 49.66 | 49.66 | 49.66 | 49.7 | 49.7 | 49.7 | 49.7 |
| FII | 0 | 0 | 0.44 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 50.34 | 50.34 | 50.34 | 50.34 | 50.34 | 50.34 | 50.3 | 50.3 | 50.3 | 50.3 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 |
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