Eris Lifesciences financials and balance sheet

NSE: ERISBSE: 540596Pharmaceuticals & BiotechnologySmall Cap

₹1,095.50₹25.70 (2.29%)BSE ₹1,097.65

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,121.20.

52-week range of traded prices to 23 Oct 2026

₹1,087.90Low, 23 Oct 2026₹1,740.00High, 9 Dec 2025

Next results date: the board meets on 26 Oct 2026 to consider: financial results.

Market cap: ₹15,199 Cr353rd largest listed
P/E: 23.6
P/B: 3.9
Dividend yield: 0.66%
ROE: 19.1%
ROCE: 13.8%
Debt to equity: 0.59
Volume, NSE: 37,94348.8% delivered

9 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Eris Lifesciences annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹3,129 Cr, year to Mar 2026

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 1.4% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue3,129
Materials and goods−796
Employee costs−557
Other expenses−657
Operating profit1,120
Depreciation−280
Other income+7.8
One-off items−17
Finance costs−193
Profit before tax638
Tax+9.0
Joint ventures+0.1
Net profit648

What the company owns

Plant, investments and other assets₹6,181 Cr
Receivables₹680 Cr
Inventory₹437 Cr
Cash and bank₹67 Cr

What pays for it: net worth and liabilities

Net worth₹3,896 Cr
Borrowings₹2,310 Cr
Other liabilities₹831 Cr
Owed to suppliers₹330 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Eris Lifesciences quarterly results

₹ crore	Mar 2018	Mar 2019Filed 22 May	Mar 2020Filed 27 Jun	Mar 2021Filed 14 May	Mar 2022Filed 4 May	Mar 2023Filed 26 May	Mar 2024Filed 23 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Revenue from operations	856	982	1,074	1,212	1,347	1,685	2,009	2,894	3,129
	534	637	706	781	862	1,148	1,334	1,876	2,009
Materials and goods bought	134	154	172	238	259	352	380	714	796
Employee costs	157	191	206	229	252	346	404	505	557
Other expenses	242	293	328	314	351	450	550	657	657
Operating profit before depreciation	322	345	368	431	485	537	675	1,017	1,120
Operating margin	37.6%	35.1%	34.3%	35.5%	36.0%	31.9%	33.6%	35.2%	35.8%
Materials, % of revenue	15.7%	15.6%	16.0%	19.7%	19.2%	20.9%	18.9%	24.7%	25.4%
Employee costs, % of revenue	18.4%	19.4%	19.2%	18.9%	18.7%	20.5%	20.1%	17.5%	17.8%
Other expenses, % of revenue	28.3%	29.8%	30.6%	25.9%	26.1%	26.7%	27.4%	22.7%	21.0%
Depreciation and amortisation	26	36	50	43	65	117	183	315	280
Operating profit after depreciation	296	309	318	388	420	420	492	702	841
Other income	26	32	15	9	26	11	24	18	8
Finance costs	11	23	2	2	4	26	85	231	193
Profit before one-off items and tax	312	317	331	394	442	405	431	489	656
One-off items	0	0	0	0	0	0	0	0	−17
Profit before tax	312	317	331	394	442	405	431	489	638
	17	26	35	39	36	30	34	114	−9
Current tax	69	71	61	69	82	75	82	112	157
Deferred tax	−52	−45	−26	−30	−45	−44	−48	2	−166
Share of profit of joint ventures and associates	–	–	–	–	–	–	–	0	0
	295	291	297	355	406	374	397	375	648
Belonging to the company's shareholders	295	291	297	355	406	382	392	352	620
Belonging to outside owners of subsidiaries	–	0	–	0	0	−8	5	23	28
Other comprehensive income	–	0	−1	−1	−1	0	−3	−3	−1
Total comprehensive income	–	291	295	354	405	374	394	371	646
Net margin	34.5%	29.6%	27.6%	29.3%	30.1%	22.2%	19.8%	12.9%	20.7%
Net margin without joint ventures and associates	–	–	–	–	–	–	–	12.9%	20.7%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 22 May	Mar 2020Filed 27 Jun	Mar 2021Filed 14 May	Mar 2022Filed 4 May	Mar 2023Filed 26 May	Mar 2024Filed 23 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
	1,169	1,296	1,576	1,908	2,221	3,222	3,272	3,896
	1,151	1,296	1,576	1,908	2,196	2,586	2,854	3,903
Share capital	14	14	14	14	14	14	14	14
Reserves	1,137	1,283	1,563	1,895	2,182	2,573	2,841	3,889
Belonging to outside owners of subsidiaries	18	0	0	0	25	636	417	−7
	0	0	0	45	830	2,735	2,478	2,310
Repayable after a year	0	0	0	45	644	655	1,782	956
Repayable within a year	0	0	0	0	186	2,081	696	1,354
	306	165	167	200	443	2,532	1,381	2,077
Trade payables	84	100	103	118	125	268	332	330
Other financial liabilities	176	8	12	16	38	32	165	206
Other liabilities	22	20	17	20	22	49	66	72
Provisions	21	30	27	39	69	62	78	38
Tax owed	2	7	8	7	4	40	44	78
	79	91	91	164	1,003	1,295	2,380	1,393
Other financial liabilities	2	12	8	39	46	43	6	41
Other liabilities	6	3	2	2	11	1	4	4
Provisions	19	26	31	32	44	53	69	87
Deferred tax	52	51	50	46	258	543	518	305
Total assets	1,554	1,552	1,835	2,272	3,667	7,049	7,033	7,366
	972	1,073	1,368	1,645	2,903	4,747	5,771	5,826
Plant in use, after depreciation	55	87	78	168	356	505	662	708
Plant being built	1	0	0	24	21	19	67	171
Intangible assets	612	694	683	657	1,880	2,962	3,732	3,567
Goodwill	94	93	93	93	332	861	912	912
Intangible assets being developed	2	4	2	3	0	1	0	0
Investments	41	3	244	421	7	16	11	10
Stakes in joint ventures and associates	–	0	0	0	0	0	51	52
Loans given	0	0	5	3	1	1	1	1
Other financial assets	8	8	45	4	8	9	11	10
Deferred tax	145	171	201	243	274	307	289	243
Other assets	15	11	18	29	24	67	34	151
	582	480	467	627	765	2,302	1,263	1,540
Inventories	83	69	94	118	131	189	335	437
Trade receivables	84	157	140	161	293	422	459	680
Cash and cash equivalents	8	67	37	51	56	94	200	55
Other bank balances	0	0	1	1	2	1,306	23	13
Current investments	315	75	50	100	30	0	5	0
Loans given	2	1	3	23	4	6	6	53
Other financial assets	13	12	48	67	1	2	3	9
Tax paid in advance	0	0	0	–	0	0	40	0
Other assets	78	99	92	106	247	283	193	294
Net debt	−322	−142	−89	−107	742	1,335	2,250	2,242

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 14 May	Mar 2022Filed 4 May	Mar 2023Filed 26 May	Mar 2024Filed 23 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
	375	378	292	486	1,065	538
	444	462	369	587	1,163	662
	5	−30	−176	−99	126	−458
Receivables	16	−20	−117	−57	−9	−210
Inventories	−25	−23	5	−17	−94	−101
Payables	3	15	−10	91	68	−6
Other working capital	12	−1	−53	−116	162	−141
Tax paid	−69	−83	−77	−101	−98	−124
Capital spending	26	121	841	129	155	297
Free cash flow	350	257	−550	357	910	241
	−323	−320	−975	−1,828	−80	−369
Plant and property sold	0	1	0	0	0	0
Companies bought	0	0	0	0	−1,169	−10
Interest received	1	5	4	7	4	2
	−82	−45	688	1,380	−881	−314
Borrowings raised	0	45	1,168	1,623	1,436	170
Borrowings repaid	0	0	−350	−159	−1,834	−282
Interest paid	−2	−4	−23	−77	−145	−193
Lease payments	−6	−12	−9	−1	−9	0
Dividends paid	75	82	100	0	100	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	−30	14	5	38	104	−145

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Eris Lifesciences dividend history

₹ per share	Mar 2018	Mar 2019Filed 22 May	Mar 2020Filed 27 Jun	Mar 2021Filed 14 May	Mar 2022Filed 4 May	Mar 2023Filed 26 May	Mar 2024Filed 23 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Earnings per share	₹21.39	₹21.15	₹21.61	₹26.16	₹29.89	₹28.10	₹28.82	₹25.85	₹45.33
Diluted earnings per share	₹21.39	₹21.13	₹21.59	₹26.14	₹29.88	₹28.07	₹28.79	₹25.81	₹45.26
Dividend per share	–	–	₹2.87	₹5.50	₹6.01	₹7.35	–	₹7.35	₹7.21
Book value per share	–	₹83.66	₹95.47	₹116.10	₹140.39	₹161.48	₹190.11	₹209.57	₹281.78
Dividend payout	–	–	13.1%	21.0%	20.1%	26.2%	–	28.5%	16.1%
Shareholder yield	–	–	–	0.9%	0.9%	1.3%	0.0%	0.5%	0.0%
Market cap at the year end (₹ crore)	10,997	8,869	5,073	8,215	9,362	7,780	11,472	19,294	17,670

Ratios

Consolidated, years to March.Eris Lifesciences PE ratio and valuation

Ratio	Mar 2018	Mar 2019Filed 22 May	Mar 2020Filed 27 Jun	Mar 2021Filed 14 May	Mar 2022Filed 4 May	Mar 2023Filed 26 May	Mar 2024Filed 23 May	Mar 2025Filed 12 Jun	Mar 2026Filed 20 May
Revenue growth	–	14.8%	9.4%	12.8%	11.2%	25.1%	19.2%	44.0%	8.1%
Operating profit growth	–	7.1%	6.8%	16.9%	12.6%	10.7%	25.7%	50.7%	10.1%
Net profit growth	–	−1.3%	1.8%	19.8%	14.3%	−7.8%	6.1%	−5.6%	72.8%
Earnings per share growth	–	−1.1%	2.2%	21.1%	14.3%	−6.0%	2.6%	−10.3%	75.4%
	–	25.3%	24.2%	24.7%	23.3%	18.6%	16.4%	12.9%	18.3%
	–	–	−1.0 pts	0.5 pts	−1.4 pts	−4.7 pts	−2.2 pts	−3.5 pts	5.4 pts
From the net margin	–	–	−1.7 pts	1.5 pts	0.7 pts	−5.8 pts	−2.6 pts	−6.2 pts	8.1 pts
From asset turnover	–	–	2.2 pts	0.9 pts	−2.1 pts	−2.4 pts	−5.4 pts	1.0 pts	1.2 pts
From borrowing	–	–	−1.5 pts	−1.9 pts	0.0 pts	3.5 pts	5.8 pts	1.7 pts	−3.9 pts
Return on capital employed	–	26.4%	24.5%	24.6%	21.5%	13.8%	8.3%	12.2%	13.5%
Cash conversion	–	–	–	105.7%	93.2%	78.0%	122.4%	284.3%	83.1%
Interest cover	28.1	13.5	147.1	215.1	101.4	16.0	5.8	3.0	4.4
Debt to equity	–	0.00	0.00	0.00	0.02	0.37	0.85	0.76	0.59
Receivable days	–	31	53	42	44	63	77	58	79
Inventory days	–	196	148	145	166	136	182	171	200
Payable days	–	200	213	157	166	129	258	170	151
Cash conversion cycle, days	–	28	−12	30	44	70	0	59	129
Working capital days	–	−17	59	64	75	91	82	44	87
Asset turnover	–	0.63	0.69	0.72	0.66	0.57	0.38	0.41	0.43
Assets per rupee of net worth	–	1.35	1.27	1.18	1.18	1.45	2.24	2.59	2.13
Sales per rupee of plant	–	17.75	12.31	15.56	8.03	4.73	3.98	4.37	4.42
Capital spending to depreciation	–	–	–	0.60	1.87	7.19	0.71	0.49	1.06
Plant being built, % of plant in use	–	1.4%	0.0%	0.0%	14.3%	6.0%	3.8%	10.1%	24.2%

No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 8.6%
Cash from operations against operating profit: 48.0%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	20.9%	22.9%
Profit growth, yearly rate	–	11.8%	17.5%
Return on equity, average	–	17.9%	15.9%
Return on capital employed, average	–	13.9%	11.3%
Operating margin, average	35.0%	34.5%	34.8%
Net margin, average	25.2%	21.1%	17.8%
Asset turnover, average	–	0.49	0.41
Cash conversion cycle, days, average	–	60	63
Interest cover, average	59.4	26.1	4.4
Debt to equity, average	–	0.52	0.73

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	2,759	2,089	538
Cash from investing	−3,571	−2,277	−369
Cash from financing	828	185	−314
Capital spending	1,543	581	297
Dividends paid	282	100	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	4,443	3,230	170
Borrowings repaid	2,625	2,275	282

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	6	4	3	5	4	5
Altman Z-scorePublished threshold 1.81	–	16.42	14.54	21.84	18.07	5.01	2.80	4.37	4.56
Beneish M-scorePublished threshold −1.78	–	–	–	−2.56	−2.40	−2.25	−2.63	−2.55	−2.01
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	17.90	16.90	35.59	32.45	−8.67	6.65
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	0.92	0.98	1.61	1.47
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	77.46	−23.28	3.42	56.74	24.95	−35.35	40.19
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	−27.55	−2.93	16.32	−24.83	35.96	−10.74	19.03
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	1.83	2.46	2.49	4.42	1.83	−1.71	2.15
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	0.00	0.00	0.16	0.07	0.06	0.14	0.53
Effective tax ratePublished threshold 17.16 per cent	5.53	8.26	10.52	9.98	8.23	7.53	7.93	23.36	−1.40
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	−10.60	−11.55	−15.44	3.34	−20.89

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
8 May 2026	India Ratings and Research Private Limited (opens in a new tab)	Bank loan facilities	IND AA; IND A1+Review, Re-affirm	Stable	1,198
8 May 2026	India Ratings and Research Private Limited (opens in a new tab)	Non-convertible debentures	IND AAReview, Re-affirm	Stable	625
8 May 2026	India Ratings and Research Private Limited (opens in a new tab)	Issuer Rating	IND AAReview, Re-affirm	Stable

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.