About
Rubicon Research Limited operates as a specialty pharmaceutical company in India, the United States, and internationally. Its primary proprietary technologies for drug delivery comprising RubiSRL for the formulation of sustained release liquids using a combination of ion exchange and membrane diffusion controlled-release technologies; and RubiReten, a gastro-retentive system for drugs with poor solubility and a limited window of absorption. The company develops products in the areas of analgesics/pain management, hypokalemia, gastrointestinal, cardiovascular, skeletal muscle relaxants, metabolic, central nervous system, nicotine replacement therapy, and immunosuppressant. The company was incorporated in 1999 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap29,297 Cr
P/E102.00
Div Yield0.08 %
Book Value₹78.10
52w High₹1,899.00
52w Low₹571.00
Face Value₹1.00
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 |
|---|---|---|---|---|---|---|---|---|
| Sales | 428.00 | 390.00 | 302.00 | 336.00 | 278.00 | 301.00 | 245.00 | 255.00 |
| Expenses | 303.00 | 284.00 | 239.00 | 257.00 | 215.00 | 240.00 | 181.00 | 186.00 |
| Operating Profit | 125.00 | 106.00 | 62.00 | 79.00 | 63.00 | 61.00 | 64.00 | 68.00 |
| OPM % | 29.00 | 27.00 | 21.00 | 24.00 | 23.00 | 20.00 | 26.00 | 27.00 |
| Other Income | 2.00 | 4.00 | 4.00 | 2.00 | 1.00 | 12.00 | 2.00 | 3.00 |
| Depreciation | 11.00 | 10.00 | 10.00 | 10.00 | 8.00 | 9.00 | 8.00 | 7.00 |
| Interest | 6.00 | 5.00 | 8.00 | 9.00 | 9.00 | 11.00 | 7.00 | 6.00 |
| Profit before tax | 111.00 | 94.00 | 50.00 | 62.00 | 47.00 | 54.00 | 51.00 | 58.00 |
| Tax % | 25.00 | 26.00 | 25.00 | 26.00 | 26.00 | 25.00 | 25.00 | 25.00 |
| Net Profit | 82.00 | 70.00 | 37.00 | 46.00 | 35.00 | 40.00 | 38.00 | 43.00 |
| EPS in Rs | 4.99 | 4.24 | 2.26 | 2.97 | 2.28 | 2.61 | 2.51 | 2.82 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Sales | 1,306.00 | 1,074.00 | 631.00 | 394.00 | 400.00 | 331.00 | 263.00 |
| Expenses | 994.00 | 803.00 | 557.00 | 375.00 | 360.00 | 220.00 | 173.00 |
| Operating Profit | 312.00 | 271.00 | 73.00 | 18.00 | 40.00 | 111.00 | 90.00 |
| OPM % | 24.00 | 25.00 | 12.00 | 4.70 | 10.00 | 34.00 | 34.00 |
| Other Income | 10.00 | 19.00 | 26.00 | 25.00 | 17.00 | 11.00 | 18.00 |
| Interest | 31.00 | 34.00 | 31.00 | 19.00 | 9.00 | 9.00 | 6.00 |
| Depreciation | 38.00 | 32.00 | 35.00 | 36.00 | 32.00 | 28.00 | 18.00 |
| Profit before tax | 253.00 | 223.00 | 34.00 | -11.00 | 17.00 | 85.00 | 84.00 |
| Tax % | 26.00 | 25.00 | 29.00 | 53.00 | 1.00 | 38.00 | 29.00 |
| Net Profit | 188.00 | 168.00 | 24.00 | -17.00 | 17.00 | 53.00 | 59.00 |
| EPS in Rs | 11.40 | 10.87 | 1.60 | -33.31 | 32.90 | 104.46 | 116.53 |
| Dividend Payout % | 13.00 | 0.00 | 1.00 | -2.00 | 0.00 | 0.00 | 2.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 17.00 | 15.00 | 15.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Reserves | 1,337.00 | 652.00 | 461.00 | 281.00 | 424.00 | 406.00 | 350.00 |
| Borrowings | 276.00 | 408.00 | 412.00 | 320.00 | 169.00 | 93.00 | 30.00 |
| Other Liabilities | 346.00 | 265.00 | 129.00 | 144.00 | 81.00 | 65.00 | 59.00 |
| Total Liabilities | 1,976.00 | 1,341.00 | 1,017.00 | 750.00 | 678.00 | 570.00 | 445.00 |
| Fixed Assets | 416.00 | 259.00 | 232.00 | 199.00 | 181.00 | 177.00 | 151.00 |
| CWIP | 26.00 | 6.00 | 10.00 | 25.00 | 3.00 | 4.00 | 2.00 |
| Investments | 43.00 | 36.00 | 34.00 | 0.00 | 19.00 | 32.00 | 35.00 |
| Other Assets | 1,490.00 | 1,040.00 | 741.00 | 526.00 | 476.00 | 356.00 | 256.00 |
| Total Assets | 1,976.00 | 1,341.00 | 1,017.00 | 750.00 | 678.00 | 570.00 | 445.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 39.00 | 30.00 | 83.00 | -75.00 | -71.00 | 47.00 | 9.00 |
| Cash from Investing Activity | -270.00 | -10.00 | -130.00 | -32.00 | -43.00 | -29.00 | -84.00 |
| Cash from Financing Activity | 297.00 | -34.00 | 46.00 | 123.00 | 65.00 | 52.00 | 76.00 |
| Net Cash Flow | 66.00 | -15.00 | -1.00 | 16.00 | -49.00 | 70.00 | 1.00 |
| Free Cash Flow | -156.00 | -40.00 | 27.00 | -119.00 | -71.00 | 47.00 | -41.00 |
| CFO/OP % | 43.00 | 21.00 | 136.00 | -394.00 | -156.00 | 72.00 | 40.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 199.00 | 170.00 | 146.00 | 209.00 | 213.00 | 169.00 | 194.00 |
| Inventory Days | 365.00 | 305.00 | 309.00 | 609.00 | 203.00 | 373.00 | 360.00 |
| Days Payable | 275.00 | 218.00 | 167.00 | 353.00 | 206.00 | 212.00 | 213.00 |
| Cash Conversion Cycle | 290.00 | 258.00 | 288.00 | 465.00 | 210.00 | 330.00 | 341.00 |
| Working Capital Days | 197.00 | 110.00 | 53.00 | 75.00 | 159.00 | 168.00 | 191.00 |
| ROCE % | 21.00 | 26.00 | 9.00 | 1.00 | 5.00 | 21.00 | — |
Corporate Actions
1 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 07 Aug 2026 | 07 Aug 2026 | — | 1.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update16 Jul 2025 from fitch
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Rating update17 Apr 2024 from fitch