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Emcure Pharmaceuticals Ltd
NSE:EMCURE

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Emcure Pharmaceuticals Ltd
NSE:EMCURE
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Price: 1 638 INR 0.05%
Market Cap: ₹310.5B

EV/S

3.5
Current
19%
More Expensive
vs 3-y average of 2.9

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
3.5
=
Enterprise Value
₹271.5B
/
Revenue
₹88.5B

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
3.5
=
Enterprise Value
₹271.5B
/
Revenue
₹88.5B

Valuation Scenarios

Emcure Pharmaceuticals Ltd is trading above its 3-year average

If EV/S returns to its 3-Year Average (2.9), the stock would be worth ₹1 373.61 (16% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-18%
Maximum Upside
+4%
Average Downside
12%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 3.5 ₹1 638
0%
3-Year Average 2.9 ₹1 373.61
-16%
5-Year Average 2.9 ₹1 373.61
-16%
Industry Average 3.6 ₹1 703.49
+4%
Country Average 2.9 ₹1 345.5
-18%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
₹271.5B
/
Jan 2026
₹88.5B
=
3.5
Current
₹271.5B
/
Mar 2026
₹99B
=
2.7
Forward
₹271.5B
/
Mar 2027
₹112.1B
=
2.4
Forward
₹271.5B
/
Mar 2028
₹125.4B
=
2.2
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
IN
Emcure Pharmaceuticals Ltd
NSE:EMCURE
310.5B INR 3.5 35.7
US
Eli Lilly and Co
NYSE:LLY
820.3B USD 13.1 39.7
US
Johnson & Johnson
NYSE:JNJ
542.6B USD 5.9 25.8
CH
Roche Holding AG
SIX:ROG
248.4B CHF 4.7 20.1
UK
AstraZeneca PLC
LSE:AZN
216.7B GBP 5.2 28.1
CH
Novartis AG
SIX:NOVN
218.2B CHF 5.2 19.6
US
Merck & Co Inc
NYSE:MRK
272.8B USD 4.7 14.9
IE
Endo International PLC
LSE:0Y5F
244.4B USD 108.7 -83.6
DK
Novo Nordisk A/S
CSE:NOVO B
1.2T DKK 4.1 11.4
US
Pfizer Inc
NYSE:PFE
152.3B USD 3.2 19.6
US
Bristol-Myers Squibb Co
NYSE:BMY
116.3B USD 3.1 16.5
P/E Multiple
Earnings Growth PEG
IN
E
Emcure Pharmaceuticals Ltd
NSE:EMCURE
Average P/E: 23.1
35.7
28%
1.3
US
Eli Lilly and Co
NYSE:LLY
39.7
32%
1.2
US
Johnson & Johnson
NYSE:JNJ
25.8
8%
3.2
CH
Roche Holding AG
SIX:ROG
20.1
14%
1.4
UK
AstraZeneca PLC
LSE:AZN
28.1
25%
1.1
CH
Novartis AG
SIX:NOVN
19.6
14%
1.4
US
Merck & Co Inc
NYSE:MRK
14.9
14%
1.1
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -83.6 N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
11.4
0%
N/A
US
Pfizer Inc
NYSE:PFE
19.6
22%
0.9
US
Bristol-Myers Squibb Co
NYSE:BMY
16.5
16%
1

Market Distribution

In line with most companies in India
Percentile
57th
Based on 2 864 companies
57th percentile
3.5
Low
0 — 1.6
Typical Range
1.6 — 5
High
5 —
Distribution Statistics
India
Min 0
30th Percentile 1.6
Median 2.9
70th Percentile 5
Max 55 686.2

Emcure Pharmaceuticals Ltd
Glance View

Market Cap
310.5B INR
Industry
Pharmaceuticals

Emcure Pharmaceuticals Ltd. emerged as a prominent player in the Indian pharmaceutical landscape, guided by a commitment to innovation and accessibility. Founded in 1981 by Satish Mehta, the company started as a small-scale manufacturer and has since evolved into a global pharmaceutical powerhouse. Emcure thrives on a multifaceted business model that encompasses the complete pharmaceutical value chain, from research and development to manufacturing and distribution. The company's success rests on its robust portfolio of generics, branded generics, and biopharmaceuticals, which cater to diverse therapeutic areas like cardiology, oncology, gynecology, and infectious diseases. The driving force behind Emcure's financial engine is its ability to balance volume and value. Through a network of state-of-the-art facilities, Emcure sustains a strong presence both domestically and internationally, with exports spanning over 70 countries. The firm capitalizes on economies of scale by leveraging its extensive production infrastructure, allowing it to offer high-quality medications at competitive prices. Furthermore, strategic collaborations and licensing agreements empower Emcure to penetrate new markets and broaden its product offerings. By continually expanding its pipeline and embracing cutting-edge technologies, Emcure not only secures its position in the competitive pharmaceutical industry but also reinforces its mission to deliver affordable healthcare solutions globally.

EMCURE Intrinsic Value
1 191.56 INR
Overvaluation 27%
Intrinsic Value
Price ₹1 638
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