Pharmaceuticals & Drugs · Founded 1994 · www.parmaxpharma.com · BSE 540359 · · ISIN INE240T01014
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Business
Parmax Pharma Ltd. operates in the Pharmaceuticals & Drugs sector in India. As a pharmaceutical company, its core business likely involves the research, development, manufacturing, marketing, and distribution of a range of pharmaceutical products. This typically includes active pharmaceutical ingredients (APIs), various drug formulations (e.g., tablets, capsules, injectables, syrups), and potentially over-the-counter (OTC) products or specialty drugs. The company generates revenue by selling these pharmaceutical products to healthcare providers, pharmacies, hospitals, and directly to consumers, both domestically within India and potentially in international markets through exports. Given the Indian context, it is highly probable the company focuses on generic drug formulations.
Revenue Mix
Specific information regarding Parmax Pharma Ltd.'s key segments or revenue mix is not available. Typically, pharmaceutical companies segment their business by therapeutic areas (e.g., cardiovascular, anti-infectives, diabetes, central nervous system), product types (e.g., generics, branded generics, specialty drugs, APIs, OTC), or geographical markets (domestic vs. international exports). Without detailed information, it is not possible to determine the specific contribution of any particular segment to Parmax Pharma Ltd.'s overall revenue.
Industry
The Indian pharmaceutical industry is one of the largest and fastest-growing globally, characterized by a strong focus on generic drug manufacturing, significant export capabilities, and a highly competitive domestic market. It is fragmented with numerous players ranging from large multinational corporations to small and medium-sized enterprises. Companies compete on factors such as product portfolio, manufacturing efficiency, regulatory compliance, pricing, distribution network, and research & development capabilities (especially for novel drugs or complex generics). Without specific market share, product portfolio, or size data for Parmax Pharma Ltd., its exact positioning relative to peers cannot be determined. It likely operates within this competitive landscape, aiming to carve out its niche through specific therapeutic focuses, market presence, or manufacturing strengths.
MOAT
Specific competitive advantages (moats) for Parmax Pharma Ltd. are not explicitly known. In the pharmaceutical sector, potential moats can include:
Scale & Cost Efficiency: Large-scale manufacturing and efficient operations leading to lower production costs, particularly important for generic drugs.
Regulatory Expertise & Quality: Proven ability to meet stringent domestic and international regulatory standards (e.g., US FDA, EU GMP), which is a barrier to entry.
Strong Distribution Network: Extensive reach across domestic and international markets.
Product Portfolio & R&D: A diverse and robust pipeline of differentiated products or a strong track record in developing complex generics.
Brand Recognition: For specific branded generic or OTC products, brand loyalty can be a significant advantage.
Without specific details, it is unclear which, if any, of these advantages Parmax Pharma Ltd. possesses.
Growth Drivers
Key factors that could drive growth for Parmax Pharma Ltd. over the next 3-5 years include:
Growing Healthcare Expenditure: Increasing public and private spending on healthcare in India.
Rising Disease Burden: Increasing prevalence of chronic and lifestyle diseases necessitating greater drug consumption.
Population Growth & Urbanization: A growing and aging population leading to higher demand for medicines.
Increasing Health Insurance Penetration: Expanding coverage making healthcare more accessible and affordable.
Generic Drug Demand: Continued global and domestic demand for affordable generic medicines.
Product Portfolio Expansion: Successful introduction of new drugs or formulations, particularly in high-growth therapeutic areas.
Market Expansion: Increased penetration into underserved domestic markets or entry into new export markets.
Regulatory Approvals: Obtaining timely approvals for new products from domestic and international authorities.
Risks
Parmax Pharma Ltd. faces several business risks common to the pharmaceutical industry:
Intense Competition & Pricing Pressure: High competition, especially in the generic segment, can lead to price erosion and margin compression.
Regulatory Changes: Stringent and evolving regulations, both domestically and internationally, can impact product approvals, manufacturing costs, and market access.
Quality Control & Recalls: Manufacturing defects or quality issues can lead to product recalls, reputational damage, and financial penalties.
R&D Failure & Product Obsolescence: Investments in R&D may not always yield successful products, and existing products can become obsolete.
Supply Chain Disruptions: Dependency on raw materials and APIs, often from global sources, can lead to supply chain vulnerabilities.
Forex Fluctuations: For companies with significant export operations, adverse currency movements can impact profitability.
Intellectual Property Challenges: Disputes over patents or intellectual property rights.
Management & Ownership
Specific details regarding the promoters, management quality, or ownership structure of Parmax Pharma Ltd. are not available. In India, many companies, especially in the pharma sector, are promoter-driven, meaning they are founded and largely controlled by a founding family or group. Management typically consists of experienced professionals with expertise in pharmaceutical research, manufacturing, regulatory affairs, marketing, and finance. The ownership structure could range from predominantly promoter-held to a more diversified structure including institutional investors and public shareholders, depending on its listing status and history.
Outlook
The outlook for Parmax Pharma Ltd. is subject to the broader trends in the Indian and global pharmaceutical markets. The Indian pharma sector continues to offer significant growth potential driven by robust domestic demand, increasing healthcare access, and strong generic manufacturing capabilities for exports. For Parmax, leveraging these macro tailwinds through strategic product development, efficient manufacturing, and effective market penetration could lead to growth. However, the company operates in a highly competitive and regulated environment, facing constant pricing pressures, the need for continuous R&D investment, and adherence to evolving quality standards. Its ability to navigate these challenges, expand its product portfolio, maintain cost efficiencies, and secure regulatory approvals will be crucial for its sustained performance and market position.
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4 | 1 | 4 | 8 | 2 | 6 | 5 | 2 | 3 | 4 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Total Income | 4 | 1 | 4 | 8 | 2 | 6 | 5 | 2 | 3 | 4 |
| Total Expenditure | 5 | 2 | 5 | 7 | 2 | 6 | 5 | 2 | 4 | 5 |
| Operating Profit | -1 | -1 | -1 | 1 | -0 | 0 | -1 | -0 | -2 | -0 |
| 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 | -1 | 0 | 0 | 0 |
| Profit Before Tax | -1 | -2 | -1 | 0 | -1 | -0 | -2 | -1 | -2 | -1 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Tax | -1 | -2 | -1 | 0 | -1 | -0 | -1 | -1 | -2 | -1 |
| Adjustments | 0 | 0 | 0 | -0 | -0 | -0 | 0 | 0 | 0 | -0 |
| Profit After Adjustments | -1 | -2 | -1 | 0 | -1 | -0 | -1 | -1 | -2 | -1 |
| Adjusted Earnings Per Share | -3.7 | -4.7 | -0 | 0 | -1.9 | -1.1 | -4 | -2 | -5.6 | -2 |
| #(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 | 0 | 0 | 0 | 12 | 12 | 21 | 26 | 18 | 15 | 11 | 28 | 14 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 12 | 12 | 21 | 26 | 18 | 15 | 11 | 28 | 14 |
| Total Expenditure | 0 | 0 | 0 | 11 | 11 | 19 | 23 | 16 | 13 | 14 | 28 | 16 |
| Operating Profit | 0 | 0 | 0 | 1 | 1 | 2 | 4 | 3 | 2 | -3 | 0 | -3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | -6 | -2 | -6 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Tax | 0 | -0 | -0 | 0 | 0 | 0 | 1 | 0 | -0 | -6 | -2 | -5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -0 | -0 | 0 | 0 | 0 | 1 | 0 | -0 | -6 | -2 | -5 |
| Adjusted Earnings Per Share | 0 | 0 | -0 | 0 | 0.2 | 1.1 | 2 | 0.4 | -0.3 | -15.4 | -5.6 | -13.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 155% | 16% | 6% | 0% |
| Operating Profit CAGR | 0% | -100% | -100% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -14% | 9% | -8% | NA% |
| ROE Average | 0% | -93% | -51% | -21% |
| ROCE Average | -30% | -29% | -13% | -4% |
| #(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 | 4 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 0 | -2 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 1 | 0 | 1 | 2 | 5 | 5 | 5 | 5 | 4 | 6 | 8 |
| Other Non-Current Liabilities | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Total Current Liabilities | 0 | 0 | 2 | 10 | 10 | 11 | 11 | 7 | 7 | 9 | 13 |
| Total Liabilities | 5 | 5 | 8 | 17 | 20 | 21 | 23 | 18 | 18 | 15 | 19 |
| Fixed Assets | 3 | 3 | 3 | 6 | 5 | 10 | 11 | 10 | 10 | 9 | 8 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Current Assets | 2 | 2 | 4 | 9 | 9 | 9 | 10 | 7 | 8 | 6 | 10 |
| Total Assets | 5 | 5 | 8 | 17 | 20 | 21 | 23 | 18 | 18 | 15 | 19 |
| #(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 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 3 | 1 | 0 | 0 |
| Cash Flow from Operating Activities | -0 | -0 | -1 | 4 | 1 | 3 | 4 | 1 | 0 | -0 | -1 |
| Cash Flow from Investing Activities | 0 | 0 | -0 | -4 | -3 | -2 | -3 | -2 | -1 | -2 | -1 |
| Cash Flow from Financing Activities | -0 | 0 | 1 | 1 | 3 | -0 | 0 | -1 | -0 | 1 | 1 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 1 | 1 | 0 | 1 | -2 | -1 | -0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 1 | 2 | 2 | 3 | 1 | 0 | 0 | -0 |
| # | 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) | 0 | 0 | -0.02 | 0 | 0.21 | 1.15 | 2.02 | 0.38 | -0.28 | -15.37 | -5.6 |
| CEPS(Rs) | 0.06 | -0.01 | -0.02 | 2.92 | 2.96 | 3.84 | 7.21 | 5.54 | 4.74 | -10.8 | -2.84 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0 | 0 | 7.08 | 6.14 | 5.2 | 7.4 | 10.48 | 11.92 | 12.7 | -1.62 | -7.21 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 9.11 | 9.26 | 8.46 | 13.04 | 14.02 | 14.64 | -30.48 | 0.9 |
| EBIT Margin(%) | 0 | 0 | 0 | 0.33 | 1.09 | 4.12 | 5.97 | 3.78 | 2.72 | -45.53 | -6.42 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0.01 | 0.82 | 3.49 | 4.61 | 1.66 | 0.3 | -51.17 | -8.49 |
| PAT Margin (%) | 0 | 0 | 0 | 0 | 0.66 | 2.05 | 2.88 | 0.78 | -0.67 | -52.03 | -7.42 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 9.19 | 9.23 | 6.86 | 10.29 | 11.36 | 11.5 | -36.54 | -3.77 |
| ROA(%) | 0.45 | -0.08 | -0.12 | 0 | 0.43 | 2.11 | 3.45 | 0.7 | -0.58 | -34.91 | -12.36 |
| ROE(%) | 0.7 | -0.12 | -0.28 | 0.02 | 3.71 | 18.19 | 22.55 | 3.38 | -2.26 | -277.44 | 0 |
| ROCE(%) | 0.88 | 0.28 | 0.18 | 0.81 | 1.96 | 10.19 | 16.25 | 6.62 | 3.96 | -59.76 | -29.88 |
| Receivable days | 0 | 0 | 0 | 32.09 | 47.37 | 38.8 | 34.54 | 23.31 | 15.38 | 40.27 | 20.01 |
| Inventory Days | 0 | 0 | 0 | 76.38 | 109.19 | 58.35 | 46.5 | 68.05 | 84.7 | 110.64 | 36.94 |
| Payable days | 0 | 0 | 0 | 370.52 | 660.54 | 304.71 | 265.42 | 419.72 | 338.42 | 311.96 | 149.2 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 17.6 | 108.01 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 1.94 | 2.99 | 0 | 0 | 3.39 | 3.43 | 2.39 | -17.63 | -5.86 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 0.68 | 0.64 | 0.35 | 0.63 | 1.06 | 1.06 | 1.49 | 0.84 |
| EV/Core EBITDA(x) | 127.83 | 338.8 | 780.88 | 7.13 | 6.63 | 3.87 | 4.74 | 7.4 | 7.1 | -4.97 | 80.88 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 0.91 | 74.4 | 25.13 | -30.31 | -15.57 | -28.23 | 155.17 |
| EBIT Growth(%) | -11.75 | -68.05 | -33.18 | 405.03 | 236.44 | 559.25 | 81.55 | -55.86 | -39.28 | -1300.54 | 64.05 |
| PAT Growth(%) | -38.11 | -116.85 | -108.03 | 106.89 | 0 | 444.7 | 75.99 | -81.24 | -173.54 | -5425.72 | 63.59 |
| EPS Growth(%) | 0 | 0 | 0 | 106.87 | 0 | 444.58 | 75.99 | -81.24 | -173.56 | -5424.95 | 63.59 |
| Debt/Equity(x) | 0.24 | 0.13 | 0.31 | 0.72 | 2.08 | 1.51 | 1.27 | 1 | 0.98 | 56.07 | -4.07 |
| Current Ratio(x) | 39.73 | 34.18 | 1.74 | 0.9 | 0.92 | 0.87 | 0.92 | 0.9 | 1.06 | 0.63 | 0.77 |
| Quick Ratio(x) | 39.73 | 34.18 | 0.92 | 0.58 | 0.52 | 0.62 | 0.57 | 0.51 | 0.45 | 0.37 | 0.51 |
| Interest Cover(x) | 723.32 | 145.7 | 2.99 | 1.04 | 4.01 | 6.58 | 4.4 | 1.78 | 1.12 | -8.08 | -3.09 |
| Total Debt/Mcap(x) | 0 | 0 | 0.2 | 0.31 | 0 | 0 | 0.44 | 0.34 | 0.47 | 0.55 | 0.51 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 30.8 | 30.83 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 69.2 | 69.17 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 |
| 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 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +155% | +16% | +6% | — |
| Operating Profit CAGR | — | -100% | -100% | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -14% | +9% | -8% | — |
| ROE Average | 0% | -93% | -51% | -21% |
| ROCE Average | -30% | -29% | -13% | -4% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 30.8 | 30.83 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 | 30.8 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 69.2 | 69.17 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 | 69.2 |
| 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 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
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