Himalaya Nutravedics IndiaShare price, financial results, shareholding and management
- Market cap
- ₹127 cr
- Stock P/E
- 17.2peers 21.9
- Book value
- ₹18.6
- Price to book
- 7.74
- EV / operating profit
- -
- Market cap to sales
- 2.94
- ROCE · FY26
- 52.1%
- ROE · FY26
- 63.9%
- ROE, 3-year average
- 51.9%
- Operating margin · FY26
- 18.8%peers 17.2%
- Sales growth, 3 years
- 175.9%
- Profit growth, 3 years
- 266.6%
- Debt to equity
- 0.31peers 0.39
- Borrowings
- ₹5.1 cr
- Interest cover
- 22.4×
- Cash from business / op. profit
- -47%
- Debtor days
- 90
- Pledged
- 0.00%
- Promoter holding
- 68.13%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 474
- 52-week high / low
- ₹167 / ₹110
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Himalaya Nutravedics India share price chart
Close on 6 Nov 2026 · +20.00% on the day · Vol 93,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +11.5%
- Traded a day, 20 days
- ₹0.72 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +105% | +231% |
| 3 years, a year | +176% | +267% |
About Himalaya Nutravedics India: business, products and customers
Himalaya Nutravedics India makes Ayurvedic and nutraceutical capsules, oils and tablets at a plant in Hyderabad. It markets them under its own brands through doctors and stockists, and also makes them for other Ayurvedic companies. Its shares trade on BSE SME.
Himalaya Nutravedics India makes softgel capsules, medicated oils, tablets, hard capsules, syrups and protein powder at one leased plant in IDA Cherlapally, Hyderabad, which holds WHO-GMP, AYUSH and FSSAI approvals. It was set up in June 2022 and started production that September. Softgels brought about 60% of FY26 sales and medicated oils about 30%.
The business has two halves that behave differently. Contract manufacturing makes products to order for other Ayurvedic brands, mostly in Kerala, on purchase orders with no long-term contracts; it keeps the plant busy but the client owns the brand. Its own brands are sold the way medicines are: its field staff visit doctors, doctors prescribe, and stockists take stock from the company on credit and pass it to pharmacies at one national MRP. That half earns more but needs marketing spend, credit to stockists and stock across many products, and stockists can return goods that expire unsold.
Read more about the business
Those terms explain the numbers. As own brands grew from about a fifth to about half of sales in FY26, margins widened, but unpaid bills and raw material stock rose faster than profit, so operating cash flow stayed negative. Profit is also taxed lightly for now: the company uses a startup tax deduction for FY25 to FY27 and says profit after tax will fall once it ends.
IPO money is meant for working capital and for launching the brands online through marketplaces, quick commerce and its own website. The company also says it is preparing for exports to Africa, the Middle East, Southeast Asia and CIS markets, but not as a main source of sales soon. The offer document names Jeena Sikho Lifecare and Sandu Pharmaceuticals as its listed peers, both makers of Ayurvedic products.
From the September 2026 red herring prospectus and the FY26 investor presentation filed on 3 October 2026.
Read the deeper study ↓In its favour
- Sales have grown very fast: 176% a year over three years.
- It earns a high return on the money it uses: ROCE 52% in FY26.
- The promoters own a large part of the company: 68.13%.
To watch
- The end of the startup tax deduction after FY27, which the company says will lower profit after tax (offer document, p.35).
- Spending of the IPO money on working capital and the online brand launch in FY27 and FY28 (offer document, p.106).
- Auditor change: J.K. Mundada & Co. resigned on 19 November 2025 and J Singh & Associates was appointed on 28 November 2025; the stated reason is the company's decision to appoint a peer reviewed firm (offer document, p.84).
- Compliance record: some ROC forms filed late, one by 1,308 days; pollution board consents only in February and March 2026; an income tax demand of ₹0.27 cr under appeal; promoter guarantees on the bank loan (offer document, p.38, p.45, p.50, p.302).
- Its borrowings rose a lot last year: ₹5.1 cr, from ₹1.8 cr.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Himalaya Nutravedics India revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
Himalaya Nutravedics India profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 2.05 | 14.43 | 21 | 43.06 |
| Expenses | 1.77 | 13.49 | 18.01 | 34.95 |
| Operating profit | 0.28 | 0.94 | 2.99 | 8.11 |
| OPM | 13.7% | 6.5% | 14.2% | 18.8% |
| Other income | 0 | 0 | 0 | 0.05 |
| Interest | 0.02 | 0.18 | 0.32 | 0.35 |
| Depreciation | 0.06 | 0.16 | 0.42 | 0.33 |
| Profit before tax | 0.20 | 0.60 | 2.25 | 7.48 |
| Tax rate | 25.0% | 28.3% | 0.9% | 1.2% |
| Net profit | 0.15 | 0.43 | 2.23 | 7.39 |
| EPS ₹ | 1.81 | 5.18 | 5.58 | 11.72 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Himalaya Nutravedics India profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 13.7% | 6.5% | 14.2% | 18.8% |
| Tax rate | 25.0% | 28.3% | 0.9% | 1.2% |
| ROCE | · | 22.6% | 39.2% | 52.1% |
| ROE | · | 36.8% | 54.9% | 63.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Himalaya Nutravedics India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Himalaya Nutravedics India balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.83 | 0.83 | 4 | 6.31 |
| Reserves | 0.15 | 0.53 | 2.76 | 10.07 |
| Net worth | 0.98 | 1.36 | 6.76 | 16.38 |
| Borrowings | 1.32 | 3.24 | 1.76 | 5.13 |
| Other liabilities | 0.93 | 1.49 | 2.30 | 2.91 |
| Total liabilities | 3.23 | 6.09 | 10.82 | 24.42 |
| Fixed assets | 0.58 | 1.50 | 1.29 | 1.03 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0.02 | 0.03 | 0.07 |
| Other assets | 2.65 | 4.57 | 9.50 | 23.32 |
Himalaya Nutravedics India cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | · | -0.55 | -1.39 | -3.83 |
| Cash from investing | · | -1.10 | -0.23 | -0.06 |
| Cash from financing | · | 1.84 | 1.44 | 5.27 |
| Net cash flow | · | 0.19 | -0.18 | 1.38 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 169 | 39 | 98 | 90 |
| Inventory days | 736 | 112 | 97 | 143 |
| Days payable | 61 | 28 | 38 | 11 |
| Cash conversion cycle | 844 | 124 | 157 | 221 |
| Working capital days | 296 | 7 | 98 | 105 |
Himalaya Nutravedics India peers and competitors
Listed SME companies in the same industryBy sales, Himalaya Nutravedics India is number 25 of the 34 listed SME companies in pharmaceuticals & biotechnology.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Curis Lifesciences | 154 | 22.3 | 60.6 | 6.9 | 18.4% | 0.46 |
| Aptus Pharma | 779 | 168.7 | 46.6 | 4.6 | 16.0% | 0.31 |
| Bio Medica Laboratories | 205 | 17.4 | 43.1 | 11.8 | 45.6% | 1.51 |
| Himalaya Nutravedics India | 127 | 17.2 | 43.1 | 7.4 | 18.8% | 0.31 |
| Amwill Health Care | 89 | 8.0 | 43 | 11 | 30.0% | 0.00 |
| Vilin Bio Med | 79 | 41.1 | 42.3 | 1.9 | 7.6% | 0.01 |
| Accretion Nutraveda | 214 | 42.1 | 33.6 | 5.1 | 20.5% | 0.12 |
| Goldline Pharmaceutical | 30 | 7.4 | 31.2 | 4.1 | 22.7% | 0.88 |
| Cian Healthcare | 67 | - | 28 | -23 | -24.0% | 3.22 |
| Asston Pharmaceuticals | 83 | 21.5 | 25.5 | 3.9 | -2.0% | 0.13 |
| Medicamen Organics | 39 | - | 22.6 | -4 | -16.6% | 0.50 |
| Median of the 10 others | 86 | 21.9 | 37.9 | 4.4 | 17.2% | 0.39 |
Himalaya Nutravedics India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Himalaya Nutravedics India shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jun 26 | Sep 26 | |
|---|---|---|
| Promoters | 68.13% | 68.13% |
| Foreign investors (FIIs) | - | 7.54% |
| Number of shareholders | 474 | 474 |
Himalaya Nutravedics India study: the business from its own documents
Read from 3 of the company's own documentsHimalaya Nutravedics India key facts from the filings
Each figure with the document it comes from
- Own brands
- 51.1%
- Share of FY26 revenue from its own brands, up from 19.7% in FY25; the rest is contract manufacturing.Offer document, p.176
- Kerala
- 49.3%
- Share of FY26 revenue from Kerala, where about 90% of its contract manufacturing clients sit.Offer document, p.177 and p.178
- Largest customer
- 36.0%
- Share of FY26 revenue from one customer; the top ten together brought 81.2%.Offer document, p.181
- Largest supplier
- 62.1%
- Share of FY26 purchases from one supplier; the top ten supplied 94.3%.Offer document, p.192
- Softgel capsules
- 59.7%
- Share of FY26 revenue; medicated oils brought 29.9% and tablets 7.7%.Offer document, p.180
Show 5 more facts
- Shifts worked
- 1 of 3
- The plant runs one eight hour shift a day and can run three, so more output needs no new plant.Offer document, p.184
- Oil line use
- 90.2%
- Medicated oil output against one shift capacity in FY26, the busiest line in the plant.Offer document, p.191
- Marketing spend
- 4.2%
- Of FY26 revenue, all of it for the own brands, equal to 8.1% of brand sales; no mass media advertising.Offer document, p.194 and p.195
- Startup tax deduction
- FY25 to FY27
- Profit is almost untaxed in these years; the company says the end of the benefit will cut profit after tax by about 28% of profit before tax.Offer document, p.35 and p.107
- Operating cash flow FY26
- ₹-3.8 cr
- Negative for a third year as receivables and inventory grew with sales.Investor presentation, October 2026, p.24
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it will spend IPO money on working capital and on branding, digital marketing and sales over FY27 and FY28, launch its brands on marketplaces, quick commerce and its own website, add new products each year and prepare for exports. It gives no sales or profit target.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Himalaya Nutravedics earns most of its margin from its own doctor prescribed brands, while contract work for Kerala companies keeps the plant busy.
Its weak spots are a few large customers, a few large suppliers and profit that has not yet turned into cash.
AverageCan it set its own prices?Partly. Its own brands carry one national MRP on doctors' prescriptions, but contract work is priced order by order and stockists are won with offers and discounts.
WatchHow strong is it against rivals?It is young and small in a crowded field, and some contract clients market products that compete with its own brands.
WatchWho are its customers?A handful of buyers bring most of the sales, led by one large contract client, though the share has come down as the brands grew.
WatchDoes it need a lot of money?Not for machines, but a lot for stock and unpaid bills, and more still for the planned online push.
AverageCan it keep finding new work?It has added states and brand sales quickly, but has no long-term contracts and no order book.
AverageDo good and bad years swing a lot?Demand for prescribed health products is steady, but with only three years of history the margin has moved a lot with the mix of brand and contract work.
Who runs Himalaya Nutravedics India?
Promoters, directors and officers; tap a name for the background
RARohit AsawaPromoter, Chairman and Managing Director
B.Tech in electronics and communication engineering from Jawaharlal Nehru Technological University, Hyderabad, and a master's in electrical engineering from San Jose State University, USA. Over 12 years in technology and the nutraceutical and Ayurvedic industry, earlier with Sai Parenterals, Sree Kartikeya Kameswari Industries and Ericsson; a partner in Raghuveer Enterprises. Director since October 2022 and Chairman and Managing Director from 20 January 2026. Held 4.71% of the shares before the IPO.
Offer document, p.98, p.216 and p.218DADivya AsawaPromoter and Non-Executive Director
Commerce degree from Osmania University and has passed the ICAI Integrated Professional Competence Examination; over 7 years in financial management and cost control; a partner in Raghuveer Enterprises. On the board since April 2025. The offer document states Divya Asawa is the spouse of Rohit Asawa. Held 24.31% of the shares before the IPO.
Offer document, p.98, p.216 and p.217CAChanda AsawaPromoter
No professional qualification stated, with over 7 years of experience; the largest shareholder before the IPO at 43.17%. The offer document states Chanda Asawa is the mother of Rohit Asawa.
Offer document, p.98, p.232 and p.235RRRama Raju PenmatsaPromoter
No professional qualification stated; experience given as over 0.4 year. Held 15.22% of the shares before the IPO. The offer document states Rama Raju Penmatsa is the father of Sneha Penmatsa, a founding director who resigned from the board on 25 November 2025.
Offer document, p.98, p.220, p.232 and p.236KKKrishna Kanth SardaChief Financial Officer
Commerce degree from Osmania University and a management diploma from Aurora's Business School; over 5 years in accounting and finance, earlier with Berkadia India, Kotak Mahindra Bank, Yes Bank and HDFC Bank. Joined on 8 January 2026.
Offer document, p.229ADAbhisheak DhootIndependent Director
Chartered accountant with over 8 years in taxation, audit and financial advisory, earlier with Deloitte Haskins & Sells; partner at Abhisheak Dhoot & Co. Appointed on 28 November 2025 and chairs the audit committee.
Offer document, p.217 and p.222RIRamya InalaIndependent Director
B.A., LL.B. from Osmania University and a company secretary with over 7 years in legal and secretarial work; partner at SRIM & Associates. Appointed on 28 November 2025.
Offer document, p.216 and p.217Himalaya Nutravedics India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 Sept 2026: promoters unchanged at 68.13%.
Himalaya Nutravedics India announcements
3 on record, latest first; each opens the filing on the exchange
Himalaya Nutravedics India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 Oct 2026 ↗read
- 3 Oct 2026 ↗read
Himalaya Nutravedics India share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Himalaya Nutravedics India's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 11 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (88,06,320 shares).
- !The FY26 results imply 63,10,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY24 (₹5.18) and FY25 (₹5.58) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Himalaya Nutravedics India
What does Himalaya Nutravedics India do?
Himalaya Nutravedics India makes Ayurvedic and nutraceutical capsules, oils and tablets at a plant in Hyderabad. It markets them under its own brands through doctors and stockists, and also makes them for other Ayurvedic companies. Its shares trade on BSE SME.
What is the share price of Himalaya Nutravedics India?
₹144 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Himalaya Nutravedics India?
₹127 cr at the close on 6 Nov 2026, on 88,06,320 shares.
What is the P/E of Himalaya Nutravedics India?
17.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Himalaya Nutravedics India's revenue and profit?
Revenue ₹43 cr and profit after tax ₹7 cr in FY26.
Who are the promoters of Himalaya Nutravedics India?
Rohit Asawa, Divya Asawa, Chanda Asawa, Rama Raju Penmatsa; promoters held 68.13% at 30 Sept 2026.
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Built from 2 investor presentations, 1 offer document, 3 exchange announcements, 2 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.