Sanjivani Paranteral Ltd

BSE: 531569

₹ 157-2.12%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 193 crWebsite: www.sanjivani.co.inUpdated: 24 Oct 2026

About

Sanjivani Paranteral is a WHO GMP certified pharmaceutical company that makes injectables, IV fluids and oral solids, with a focus on life-saving drugs. It exports to over 25 countries across Latin America, Africa, the Middle East, CIS and Asia. Revenue was Rs 68.67 Cr in FY26. In Latin American markets, it ranks among the top 8-10 players in injectables (Q1 FY26).^[1][2][3]

Dosage-form mix

Tablets made up about 52% of standalone revenue in Q4 FY26.^[4]
Injectable, tablet and nutraceutical shares were 58.7%, 37.1% and 4.2% in FY25. In FY24, injectables were 69.3% and tablets 29.1%.^[5]
Injectables were 50.2% of revenue in Q1 FY26, down from about 60.4% in Q1 FY25, as the oral solids business grew.^[3]
Injectable revenue was INR 9.3 crores in Q2 FY26, up 2.4% YoY. Oral revenue was INR 4.9 crores, down 35.4% YoY.^[6]

Products and portfolio

Therapy areas include CNS, cardiovascular, antibiotics, gastroenterology, anti-diabetics and anti-allergics (FY26).^[1]
The portfolio had 200+ products as of Q2 FY26, up from 160 at 31 March 2025. The company added 15 products in FY25 and about 8 in H1 FY26.^[6][5][3]
Antibiotics were only 7-8% of the business as of Q2 FY26.^[6]
R&D focuses on differentiated sterile injectables and value-added nutraceuticals, with dossiers filed in multiple markets (FY26).^[1]

Manufacturing and capacity

The company has 4 manufacturing facilities. It is headquartered in Mumbai, with WHO GMP plants in Navi Mumbai and Dehradun (FY26).^[1]
Annual capacity as of FY26: 60 million IV fluid bottles, 720 million tablets, 84 million ampoules, 12 million liquid injectables and 48 million vials.^[1]
Annual capacity as of FY26: 120 million beta-lactam tablets, 180 million beta-lactam capsules and 72 million capsules.^[1]
Utilisation in Q4 FY25 was about 65% at the Mumbai plant and about 40% at the Dehradun plant.^[5]

Pune IV fluids plant

Subsidiary SPL Infusion Private Limited runs an IV fluids facility at Pune (FY26). The plant capex was INR 30-35 crores.^[1][5]
Commercial production began in December 2025. As of Q4 FY26, 5 products were approved and 18 were in the pipeline.^[4]
Pune IV fluids revenue was INR 2.7 crore in Q4 FY26, up from INR 1.2 crore in Q3 FY26. About 2 million bottles were sold in H2 FY26.^[4]
Management plans Pune utilisation of about 40%, 45%, 60% and 70% across Q1-Q4 FY27.^[4]

Markets and exports

Exports were 85.26% of standalone revenue in Q4 FY26. They were 81.5% in FY25, up from 75.1% in FY24.^[4][5]
Latin America, the Middle East and Africa, and CIS together made up 76.09% of revenue in Q4 FY26. The Middle East and Africa alone accounted for 40-45%.^[4]
A Francophone African regulator gave site approval in FY25. The company filed 48 products in the region that year.^[5]
Customer contracts carry no long-term fixed prices, so prices can follow international price revisions (Q4 FY26).^[4]
Debtor days improved to 65-70 days in FY26 from about 90 days in FY25.^[4]

Joint ventures and expansion

The company holds a minority stake in Alevia Healthcare, Prague, as an EU foothold for nutraceuticals. The JV's revenue was EUR 500K-600K in calendar 2025, its first year.^[1][4]
The company plans to add a few more plants in the near term (FY26 annual report).^[1]
In Q2 FY26, the company was in talks with 1-2 government bodies on public-private partnership (PPP) IV plant ventures similar to its HAL tie-up.^[6]
In FY25, the company planned 11 new products over the medium to long term and to seek approvals including EDQM and USFDA.^[7]

Recent developments

The Iran-related conflict halted March 2026 exports to the Middle East. About INR 6 crore of goods were carried into FY27, and dispatches have since normalised.^[4][1]
Aluminium and plastics input costs rose sharply in March 2026 because of the conflict.^[4]
In Q2 FY26, management said the government had revised IV fluid prices upward.^[6]

Market Cap

₹193 Cr

High / Low

₹244 / 126

Stock P/E

18.6

Price / Book

4.0

Book Value

₹39

EPS

₹5.5

No. of Shares

1.23 Cr

ROCE

17.7%

ROE

15.5%

OPM

14.6%

Debt / Equity

0.30

Sales

₹69 Cr

Net Profit

₹7 Cr

Promoter holding

31.6%

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