Rubicon Research LtdNSE:RUBICON
Current view Q4 2026
Makes complex US specialty and generic medicines; sales rose 37% to Rs1,754 crore as higher-margin new launches land and its FDA pipeline grows. But the stock trades near 100 times earnings - priced for perfection.
Latest exchange filings last 5 · 5 after Q4 2026
- 29 Aug ’26Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 29 Aug ↗
- 27 Aug ’26General Atlantic Singapore RR sold 1.4 crore Rubicon shares on 25-26 Aug 2026; holding fell to 27.34%. ↗
- 26 Aug ’2627th AGM voting results released; 9 resolutions passed, including final dividend, ESOP 2026, and subsidiary merger. ↗
- 26 Aug ’26Rubicon Research held its 27th AGM on August 26, 2026; discussed dividend, ESOPs, and subsidiary merger proposal. ↗
- 19 Aug ’26Trascript of Earnings Call Q1 FY 2026-27 ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +43.6% | +8.0% | +64.5% | +41.0% |
| Operating profit | ▲ +65.3% | +10.2% | +111.7% | +31.9% |
| EPS | ▲ +97.9% | +5.2% | +32.8% | −24.4% |
| PAT | ▲ +113.9% | +5.5% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +43.6%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Good66/100
Cheap, and growing fast. Profit per share grew 33% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹1,593 → ₹3,186 needs the P/E at 88× — it is 104× today, and has ranged 59× to 145× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 133× — it has traded there — high was 145×.
Target capped at 33× — its 91× five-year average came from near-zero earnings.
At ₹504 the price-tag on its earnings reaches the 33× it is being projected toward — the point where being cheap against that yardstick is used up.
Growth still unpaid, one leg weaker. Worth the concall read.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹29,249 cr, so the odds of a re-rate are not fighting its own size.
Why the target is capped at 33×. This company averaged 91× over five years, but a multiple that high comes from near-zero earnings rather than from what buyers chose to pay — projecting a return to it would price in the collapse, not the recovery. 33× is what a 33% grower supports.
Growth rate used: 32.8% — the weakest of
EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%. Price move is a proxy (distance from the 40-week EMA) until ret1y is stored.
How it compares with its rivals Healthcare · 6 of 159 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Rubicon Research | ₹1,799 | 103.3× | ₹29,782 Cr | 28.4% | +95.8% | +51.6% |
| Sun Pharma.Inds. | ₹1,853 | 35.1× | ₹4.45 L Cr | 20.5% | +6.0% | +10.5% |
| Divi's Lab. | ₹9,378 | 83.5× | ₹2.49 L Cr | 22.0% | +65.5% | +27.8% |
| Torrent Pharma. | ₹4,855 | 82.8× | ₹1.85 L Cr | 15.2% | +5.8% | +54.9% |
| Zydus Lifesci. | ₹1,152 | 23.6× | ₹1.15 L Cr | 21.1% | −35.1% | +22.0% |
| Cipla | ₹1,375 | 31.0× | ₹1.11 L Cr | 15.5% | −39.2% | +2.3% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — a little wider than 21 months earlier | operating margin 21% → 24% over 21 months |
|---|---|---|
| Did the profit turn into cash? | under half — much of the profit is tied up | 78% last year, 59% over three · free cash flow −₹24 cr, positive in 1 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹311 cr — 0.24× its own equity (was 0.77×) |
| Is it being collected? | collection is steady | 106 days to collect, up 14 in a year · cash cycle 371 days |
| Who has been buying? | promoter stake unchanged on record | promoters 59.8% · FIIs 7.5% · DIIs 9.4% |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 28.4% · ROE 27.0% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 52.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.5%
Against it
- Stock is trading at 23.2 times its book value
- Working capital days have increased from 68.8 days to 104 days
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.