About
Natural Capsules Limited engages in the manufacture and sale of hard gelatin and cellulose capsule shells in India and internationally. The company offers bovine spongiform encephalopathy and transmissible spongiform encephalopathy free gelatin, shiny gelatin, sodium lauryl sulfate free gelatin, halal-certified gelatin, fast-release gelatin, printed gelatin/cellulose, vegetarian, and enteric capsule shells. It also provides pharmaceutical dosage forms in capsule dosage form for pharma and neutraceutical products. In addition, the company offers steroidal APIs and derivative salts comprising prednisolone, betamethasone, dexamethasone and hydrocortisone. Natural Capsules Limited was incorporated in 1993 and is based in Bengaluru, India.
Key Metrics
as of Sep 2026Market Cap226 Cr
P/E—
Div Yield0.00 %
Book Value₹168.00
52w High₹296.00
52w Low₹136.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 48.71 | 58.45 | 37.75 | 45.80 | 45.20 | 44.97 | 43.83 | 41.22 | 39.18 | 40.22 | 39.98 | 37.52 | 37.70 |
| Expenses | 47.59 | 57.12 | 40.07 | 46.69 | 44.88 | 40.58 | 39.56 | 36.72 | 34.81 | 36.11 | 35.26 | 32.40 | 31.74 |
| Operating Profit | 1.12 | 1.33 | -2.32 | -0.89 | 0.32 | 4.39 | 4.27 | 4.50 | 4.37 | 4.11 | 4.72 | 5.12 | 5.96 |
| OPM % | 2.30 | 2.28 | -6.15 | -1.94 | 0.71 | 9.76 | 9.74 | 10.92 | 11.15 | 10.22 | 11.81 | 13.65 | 15.81 |
| Other Income | 2.35 | 0.76 | 0.45 | 0.16 | 0.36 | 0.30 | 0.11 | 0.11 | 0.18 | 0.92 | 0.50 | 0.35 | 0.17 |
| Depreciation | 4.33 | 4.28 | 4.36 | 4.29 | 4.21 | 2.16 | 2.33 | 2.35 | 2.28 | 2.20 | 2.19 | 2.17 | 2.11 |
| Interest | 4.97 | 2.89 | 2.85 | 2.68 | 2.53 | 1.64 | 1.54 | 1.65 | 1.49 | 1.40 | 1.24 | 1.16 | 1.33 |
| Profit before tax | -5.83 | -5.08 | -9.08 | -7.70 | -6.06 | 0.89 | 0.51 | 0.61 | 0.78 | 1.43 | 1.79 | 2.14 | 2.69 |
| Tax % | -1.54 | -1.97 | -21.70 | -9.09 | -8.09 | 41.57 | 78.43 | 201.64 | 21.79 | 32.17 | 32.96 | 27.10 | 32.34 |
| Net Profit | -5.75 | -4.98 | -7.12 | -6.99 | -5.58 | 0.52 | 0.11 | -0.61 | 0.60 | 0.97 | 1.21 | 1.56 | 1.82 |
| EPS in Rs | -3.82 | -3.32 | -4.77 | -6.76 | -5.40 | 0.35 | 0.11 | -0.60 | 0.64 | 1.04 | 1.30 | 1.68 | 1.96 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 187.00 | 169.00 | 155.00 | 170.00 | 135.00 | 80.00 | 62.00 | 60.00 | 55.00 |
| Expenses | 188.00 | 151.00 | 135.00 | 135.00 | 110.00 | 68.00 | 56.00 | 55.00 | 49.00 |
| Operating Profit | -1.00 | 18.00 | 20.00 | 35.00 | 26.00 | 11.00 | 5.00 | 5.00 | 6.00 |
| OPM % | -0.50 | 10.00 | 13.00 | 21.00 | 19.00 | 14.00 | 9.00 | 8.00 | 10.00 |
| Other Income | 2.00 | 1.00 | 2.00 | 1.00 | 1.00 | 3.00 | 1.00 | 1.00 | 1.00 |
| Interest | 12.00 | 7.00 | 5.00 | 4.00 | 2.00 | 1.00 | 1.00 | 1.00 | 0.00 |
| Depreciation | 17.00 | 9.00 | 9.00 | 7.00 | 5.00 | 4.00 | 4.00 | 3.00 | 4.00 |
| Profit before tax | -28.00 | 3.00 | 8.00 | 25.00 | 19.00 | 9.00 | 1.00 | 2.00 | 2.00 |
| Tax % | -12.00 | 78.00 | 31.00 | 26.00 | 28.00 | 24.00 | 38.00 | 7.00 | 34.00 |
| Net Profit | -25.00 | 1.00 | 6.00 | 18.00 | 14.00 | 7.00 | 1.00 | 2.00 | 1.00 |
| EPS in Rs | -16.44 | 0.42 | 5.95 | 20.02 | 14.96 | 7.43 | 0.92 | 2.06 | 1.19 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 5.00 | 5.00 | 9.00 | 43.00 | 32.00 | 56.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10.00 | 10.00 | 9.00 | 9.00 | 7.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| Reserves | 165.00 | 176.00 | 194.00 | 114.00 | 76.00 | 56.00 | 49.00 | 49.00 | 48.00 |
| Borrowings | 162.00 | 152.00 | 109.00 | 97.00 | 53.00 | 10.00 | 6.00 | 5.00 | 0.00 |
| Other Liabilities | 87.00 | 81.00 | 64.00 | 70.00 | 29.00 | 27.00 | 14.00 | 14.00 | 19.00 |
| Total Liabilities | 424.00 | 419.00 | 377.00 | 290.00 | 165.00 | 99.00 | 76.00 | 75.00 | 73.00 |
| Fixed Assets | 274.00 | 284.00 | 103.00 | 97.00 | 66.00 | 38.00 | 24.00 | 24.00 | 22.00 |
| CWIP | 4.00 | 0.00 | 144.00 | 88.00 | 20.00 | 7.00 | 2.00 | 2.00 | 1.00 |
| Investments | 3.00 | 3.00 | 3.00 | 0.00 | 0.00 | 0.00 | 6.00 | 5.00 | 5.00 |
| Other Assets | 143.00 | 133.00 | 127.00 | 105.00 | 79.00 | 54.00 | 45.00 | 43.00 | 45.00 |
| Total Assets | 424.00 | 419.00 | 377.00 | 290.00 | 165.00 | 99.00 | 76.00 | 75.00 | 73.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 11.00 | 27.00 | -8.00 | 17.00 | -1.00 | 13.00 | 7.00 | 2.00 | 5.00 |
| Cash from Investing Activity | -11.00 | -44.00 | -73.00 | -105.00 | -46.00 | -16.00 | -6.00 | -7.00 | -1.00 |
| Cash from Financing Activity | -1.00 | 16.00 | 82.00 | 87.00 | 48.00 | 3.00 | -1.00 | 4.00 | -4.00 |
| Net Cash Flow | 0.00 | -2.00 | 1.00 | 0.00 | 1.00 | 0.00 | 0.00 | -1.00 | 0.00 |
| Free Cash Flow | -1.00 | -18.00 | -79.00 | -88.00 | -47.00 | -11.00 | 2.00 | -5.00 | 4.00 |
| CFO/OP % | -1,634.00 | 162.00 | -32.00 | 64.00 | 17.00 | 134.00 | 144.00 | 57.00 | 97.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 139.00 | 134.00 | 128.00 | 112.00 | 71.00 | 123.00 | 180.00 | 197.00 | 208.00 |
| Inventory Days | 94.00 | 109.00 | 88.00 | 45.00 | 34.00 | 82.00 | 89.00 | 87.00 | 149.00 |
| Days Payable | 197.00 | 166.00 | 141.00 | 127.00 | 98.00 | 159.00 | 91.00 | 114.00 | 185.00 |
| Cash Conversion Cycle | 36.00 | 78.00 | 75.00 | 30.00 | 7.00 | 45.00 | 179.00 | 170.00 | 172.00 |
| Working Capital Days | -1.00 | 53.00 | 80.00 | 61.00 | 73.00 | 35.00 | 121.00 | 143.00 | 186.00 |
| ROCE % | -5.00 | 3.00 | 5.00 | 15.00 | 21.00 | 11.00 | 4.00 | 5.00 | — |
Corporate Actions
18 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 20 Jul 2023 | — | — | 1.00 | |
| Dividend | 09 Sep 2022 | — | — | 1.00 | |
| Other | 11 Nov 2021 | 12 Nov 2021 | — | — | Right Issue of Equity Shares |
| Dividend | 06 Jul 2021 | — | — | 1.00 | |
| Dividend | 12 Aug 2020 | — | — | 0.60 | |
| Dividend | 13 Aug 2019 | — | — | 1.00 | |
| Dividend | 12 Sep 2018 | — | — | 1.00 | |
| Dividend | 18 Aug 2017 | — | — | 1.00 | |
| Dividend | 16 Aug 2016 | — | — | 1.50 | |
| Dividend | 19 Aug 2015 | — | — | 1.50 | |
| Dividend | 20 Aug 2014 | — | — | 1.50 | |
| Dividend | 19 Jul 2013 | — | — | 1.50 | |
| Dividend | 20 Jul 2012 | — | — | 1.50 | |
| Dividend | 21 Jul 2011 | — | — | 1.20 | |
| Dividend | 23 Sep 2010 | — | — | 1.20 | |
| Dividend | 23 Jul 2009 | — | — | 1.20 | |
| Dividend | 24 Jul 2008 | — | — | 1.00 | |
| Dividend | 20 Jul 2007 | — | — | 1.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update19 Mar from infomerics
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Rating update13 Aug 2025 from icra
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Rating update26 Nov 2024 from icra
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Rating update4 Oct 2023 from care
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Rating update13 Sep 2023 from icra
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Rating update22 Aug 2023 from icra