Bilcare

BSE: BI · Healthcare Research, Analytics & Technology

52W Range₹50 ₹116

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Snapshot

Unlock Bilcare's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Bilcare Ltd. is a provider of pharmaceutical packaging solutions, global clinical services, and research and development services. The company also specialises in anti-counterfeit technology branded as nCid.

Business Model

The company generates revenue through the provision of specialised packaging materials and clinical research services to the pharmaceutical industry. Following recent NCLT proceedings, the company's operating assets were acquired by its subsidiary, Caprihans India Ltd., to facilitate debt repayment.

Management Commentary

Management has focused on resolving long-standing debt defaults through a one-time settlement process concluded in 2023. The restructuring involved leveraging the balance sheet of its subsidiary to satisfy lender obligations.

Growth Outlook

The company's outlook is tied to the operational stability achieved post-settlement and the integration of its assets under the subsidiary structure. Future growth depends on the revitalisation of its core pharmaceutical packaging and research service offerings.

Key Risks

  • Operational Continuity. The company faces significant challenges in restoring full operational capacity following years of financial distress and NCLT proceedings.
  • Financial Leverage. The reliance on subsidiary balance sheets for asset acquisition and debt settlement creates complex inter-company dependencies.
  • Market Competition. The pharmaceutical packaging and clinical research sectors are highly competitive, requiring constant innovation to maintain market share.
  • Regulatory Compliance. As a provider to the healthcare sector, the company must adhere to stringent global quality and safety standards, which are costly to maintain.

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Key Metrics

REVENUE

₹734 Cr

TTM · consolidated

-6.9%YoY

NET PROFIT

₹54 Cr

TTM · consolidated

+195.7%YoY

EPS

₹15.05

TTM · consolidated

+286.0%YoY

RETURN ON EQUITY

13.4%

TTM · consolidated

+24.8 ppYoY

RETURN ON CAPITAL EMPLOYED

-110.0%

TTM · consolidated

-111.7 ppYoY

P/E

4.2x

Q4 FY26 · consolidated

4.2 vs -4.0x5Y avg

EV/EBITDA

4.4x

Q4 FY26 · consolidated

4.4 vs 18.4x5Y avg

EBITDA MARGIN

23.1%

TTM · consolidated

+11.2 ppYoY

NET PROFIT MARGIN

4.2%

Q4 FY26 · consolidated

+1.6 ppYoY

DEBT TO EQUITY

3.1x

Q4 FY26 · consolidated

+1.70xYoY

Peers · Healthcare Research, Analytics & Technology

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
BilcareBI
₹216 Cr6.104.92-6.9%23.1%13.4%-110.0%+32.4%
Indegene Ltd.INDGN
₹13,950 Cr34.6519.0430.4%18.8%13.9%17.4%+6.8%
Suven Life Sciences LimitedSUVEN
₹9,624 Cr-24.51-27.8417.3%-557.4%-100.5%-99.8%+70.6%
Vimta LabsVIMTALABS
₹2,759 Cr34.5917.5415.2%37.3%19.1%24.1%-7.3%
Fabtech Technologies LimitedFABTECH
₹656 Cr10.688.9616.3%11.6%14.1%
Take SolutionsTAKE
₹239 Cr18.7738.287.4%49.8%24.2%+60.9%

As of Q4 FY26

Financials