Torrent Pharma shares hit 52-week high; here’s what Morgan Stanley, Jefferies analysts said post-Q4 earnings

Torrent Pharmaceuticals shares rallied 5% to hit their 52-week high of ₹4,698 apiece on Monday, May 25, as the firm’s revenue growth in the March quarter followed by analysts’ commentary supported investors’ sentiment.

The drugmaker reported a 22% growth in consolidated net profit at ₹389 crore for the fourth quarter of the financial year 2025-26 (Q4 FY26) as compared to ₹498 crore in the same period last year.

The pharma major’s revenue from operations, however, jumped 44% year-on-year (YoY) to ₹4,197 crore in the January-March period from ₹2,909 crore in the year-ago period.

The firm’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 48% annually to ₹1,356 crore as against ₹914 crore in Q4 FY25. Its operating profit margin expanded to 32.3% in contrast to 31.4% on a yearly basis.

“Excluding JB Pharma, the base business recorded revenue growth of 16% for the quarter and 15% for FY26, with operating EBITDA growth of 16% and margins of 32.7% for both periods,” Torrent Pharma said in a statement.

Torrent Pharma further stated that following the acquisition of a controlling stake in JB Pharma, its consolidated financial statements now include the financial results of JB Pharma, its subsidiaries, and the related acquisition effects from January 21, 2026.

During the reporting quarter, the company’s base business grew 15%, outperforming the IPM growth of 10%, according to the AIOCD PharmaTrac dataset.

For the full year FY26, the Ahmedabad-based firm’s India revenues stood at ₹7,645 crore, marking a 20% increase. It added that its base business continues to be among the fastest-growing within the top 10 companies, while the generic semaglutide launch has started strongly, capturing a 38% market share (oral and injectable combined) as per April 2026 PharmaTrac data.

Dividend and QIP details

Along with the earnings approval, Torrent Pharma’s board has recommended seeking shareholders’ approval at the upcoming Annual General Meeting to raise up to ₹5,000 crore through the issuance of equity shares, including convertible bonds or debentures, via Qualified Institutional Placement (QIP) and/or other permissible modes.

The board has also recommended a final dividend of ₹9 per equity share of ₹5 each (180%) for FY26. If approved by shareholders, the dividend is proposed to be paid or dispatched on or around June 25, 2026.

This comes in addition to the interim dividend of ₹29 per equity share (580%) that was already paid during the last quarter, the pharma major said in a statement.

Here’s what analysts said

They highlighted that Torrent expects semaglutide sales to reach ₹200–250 crore in FY27, positioning it as the company’s largest product launch opportunity. The JB Pharma merger is nearing final NCLT approval, with cost synergies of ₹400–450 crore expected over the next three years.

They added that JB Pharma integration is progressing well, with the company on track to achieve cost synergy benefits starting in its first year.

Torrent Pharma share price

At 10:45 AM, Torrent Pharma shares were trading at ₹4,659 apiece on the National Stock Exchange, rising 3.85%.

Over a month’s time, the stock has gained 10%, while it has jumped over 24% in the last six months. From the beginning of the year, Torrent Pharma shares have climbed 21%, while they have surged 46% on a year-on-year (YoY) basis.

The company has a market capitalisation of ₹1.57 lakh crore.