₹1,533.4
▼ -41.26 -2.62%
06 Aug 2026
NSE Listed · Pharmaceuticals
Rubicon Research Limited (RUBICON)
Volume: 2,55,419Avg Vol 1W: 1,70,350Avg Vol 1M: 2,43,49552W Range:₹570.75₹1,589.7
Key Ratios
Checked just nowMarket Cap₹25,360 Cr
Current Price₹1,533.4
Previous Close₹1,574.66
High / Low (52w)₹1,589.7 / ₹570.75
Volume2,55,419
Avg Vol (1W)1,70,350
Avg Vol (1M)2,43,495
Stock P/E102.77
Book Value₹77.93
Dividend Yield10%
ROE19.14%
ROA10.6%
Revenue (TTM)—
Revenue Growth50.4%
Profit Margin14.07%
Total Debt₹64 Cr
Shares Outstanding17 Cr
Face Value₹1
EPS (TTM)₹14.92
P/B19.68
Debt / Equity0.24
50 DMA₹1,380.04
200 DMA—
Day change-2.62%
Price Chart
₹1,533.4▲ 144.09% · 1Y
2025-10-162026-08-06
20-day avg volume: 2.5L shares
Pros
- Healthy return on equity of 19.1%.
- Pays a dividend yield of 10.0%.
- Company is almost debt-free.
Cons
- Revenue fell 78% YoY.
- Stock trades at a high P/E of 103.
Quarterly Results
| Metric | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | ₹296 Cr | ₹313 Cr | ₹358 Cr | ₹352 Cr | ₹412 Cr | ₹476 Cr | ₹514 Cr |
| EBITDA | ₹56 Cr | ₹61 Cr | ₹63 Cr | ₹70 Cr | ₹83 Cr | ₹100 Cr | ₹109 Cr |
| Net Profit | ₹34 Cr | ₹38 Cr | ₹36 Cr | ₹43 Cr | ₹54 Cr | ₹73 Cr | ₹77 Cr |
| EPS | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Dec 2024 | Mar 2025 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹245 Cr | ₹1,288 Cr | ₹301 Cr | ₹278 Cr | ₹336 Cr | ₹302 Cr | ₹390 Cr | ₹1,762 Cr |
| EBITDA | ₹58 Cr | ₹231 Cr | ₹65 Cr | ₹56 Cr | ₹71 Cr | ₹57 Cr | ₹100 Cr | ₹363 Cr |
| Net Profit | ₹38 Cr | ₹134 Cr | ₹40 Cr | ₹35 Cr | ₹46 Cr | ₹37 Cr | ₹70 Cr | ₹247 Cr |
| EPS | — | 8.68 | — | — | — | — | — | 15.31 |
Balance Sheet
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Total Assets | ₹430 Cr | ₹538 Cr | ₹560 Cr | ₹750 Cr | ₹1,109 Cr | ₹1,451 Cr | ₹2,327 Cr |
| Total Liabilities | ₹90 Cr | ₹164 Cr | ₹254 Cr | ₹463 Cr | ₹724 Cr | ₹910 Cr | ₹1,038 Cr |
| Equity | ₹341 Cr | ₹374 Cr | ₹305 Cr | ₹286 Cr | ₹385 Cr | ₹541 Cr | ₹1,289 Cr |
| Total Debt | — | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | ₹32 Cr | ₹95 Cr | ₹-54 Cr | ₹-73 Cr | ₹39 Cr | ₹198 Cr | ₹314 Cr |
| Investing | ₹-84 Cr | ₹-46 Cr | ₹-55 Cr | ₹-34 Cr | ₹-69 Cr | ₹-65 Cr | ₹-410 Cr |
| Financing | ₹80 Cr | ₹52 Cr | ₹63 Cr | ₹123 Cr | ₹44 Cr | ₹-40 Cr | ₹283 Cr |
| Free Cash Flow | ₹-27 Cr | ₹24 Cr | ₹-109 Cr | ₹-117 Cr | ₹-17 Cr | ₹198 Cr | ₹314 Cr |
Shareholding
Promoter 59.76% Institutions 16.95% Public 23.3%
Efficiency & Working Capital
ROCE22.6%
Interest Coverage6.3
Dividend Payout—
Debtor Days106 d
Inventory Days152 d
Payable Days79 d
Cash Conversion Cycle179 d
Working Capital Days258 d
Shareholding Details
As of 2026-06-30
Promoter59.8%
FII7.5%
DII9.4%
Institutions16.9%
Public23.3%
Promoter Pledge0%
No. of Shareholders43,254
Shareholding Pattern
Quarterly — figures in %. Latest 8 quarters.
| Period | Jul 2024 | Jul 2024 | Sept 2025 | Oct 2025 | Oct 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 84.2% | 84.2% | 60% | 60% | 60% | 60% | 59.9% | 59.8% |
| FIIs | 0% | 0% | 9.4% | 5.4% | 9.4% | 8% | 7.5% | 7.5% |
| DIIs | 15.8% | 0% | 10.5% | 10.5% | 10.5% | 9.4% | 10% | 9.4% |
| Public | 0% | 15.8% | 20.1% | 24.1% | 20.1% | 22.6% | 22.6% | 23.3% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 15 | 15 | 1,05,311 | 1,05,311 | 1,05,311 | 31,914 | 33,738 | 43,254 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202503 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| General Atlantic Singapore Rr Pte Ltd | Shareholding of Promoter and Promoter Group | 35.8% | 5.93 Cr |
| Shivanand Shankar Mankekar Huf | Public Shareholding | 13.5% | 2.24 Cr |
| Surabhi Parag Sancheti | Shareholding of Promoter and Promoter Group | 7.9% | 1.31 Cr |
| Sumant Pilgaonkar | Shareholding of Promoter and Promoter Group | 7.9% | 1.31 Cr |
| Pratibha Sudhir Pilgaonkar | Shareholding of Promoter and Promoter Group | 3.9% | 64,35,000 |
| Sudhir D Pilgaonkar | Shareholding of Promoter and Promoter Group | 3.9% | 64,35,000 |
| Amansa Investments Ltd | Public Shareholding | 3.1% | 51,60,278 |
| Kotak Midcap Fund | Public Shareholding | 2.9% | 47,11,435 |
| Motilal Oswal Small Cap Fund | Public Shareholding | 1.7% | 28,61,358 |
| Fidelity Funds - India Focus Fund | Public Shareholding | 1.4% | 23,50,854 |
| Nomura Funds Ireland Public Limited Company- Nomura Funds Ireland - India Equity Fund | Public Shareholding | 1.4% | 22,39,895 |
| Bajaj Finserv Flexi Cap Fund | Public Shareholding | 1.3% | 21,91,575 |
| Narendra Narhar Borkar | Public Shareholding | 1.1% | 17,63,790 |
| Terentia Venture Partners | Shareholding of Promoter and Promoter Group | 0.3% | 5,10,000 |
| Parag Suganchand Sancheti | Shareholding of Promoter and Promoter Group | 0% | 30,000 |
| Prashant Pilgaonkar | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Sheela Suganchand Sancheti | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Suganchand Gendulal Sancheti | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Ananya Parag Sancheti | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Ira Parag Sancheti | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Saloni Pilgaonkar | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Kimaya Sumant Pilgaonkar | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Kirit Vishanji Gala | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Rumie Gala | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Smeet Gala | Shareholding of Promoter and Promoter Group | 0% | 0 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| CHANGAVALLI VENKAT | Chairman & Independent Directo | 2025 |
| PRATIBHA SUDHIR PILGAONKAR | Executive Director & MD | 2025 |
| PARAG SUGANCHAND SANCHETI | Executive Director & CEO | 2025 |
| Varun Talukdar | Non Executive Director | 2025 |
| Shantanu Rastogi | Non Executive Director | 2025 |
| Anand Agarwal | Non Executive Director | 2025 |
| K G Ananthakrishnan | Independent Non Exe. Director | 2025 |
| MILIND ANIL PATIL | Independent Non Exe. Director | 2025 |
| DEEPASHREE OMKAR TANKSALE | Company Sec. & Compli. Officer | 2025 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Pharmaceutical Service | ₹22 Cr | 14.3% |
| Manufacturing | ₹132 Cr | 85.7% |
| In-house Reseach & Development | ₹0 Cr | 0% |
Segments — Geography
| Region | Revenue | Share |
|---|---|---|
| India | ₹11 Cr | 1.3% |
| USA | ₹832 Cr | 97.4% |
| Others | ₹11 Cr | 1.3% |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2025 | ₹1 | 24 | 15 | 15 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| forthcoming | 2026-08-07 | Dividend (1.5/- per share) | Final |
| dividend | 2026-08-07 | ₹1.5 (150%) | Final |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2025 | 845 | 0 | 0 | 13 | 4 | 863 |
| 2025 | 58 | 0 | 0 | 0 | 0 | 58 |
| 2025 | 41 | 0 | 0 | 13 | 4 | 59 |
Insider / Designated-Person Trades
21 recent disclosure(s)
Girish Subramaniam IyerDisposal · 10,000
Prakash ChandranDisposal · 20,000
Prakash Chandran— · 10,000
Prakash Chandran— · 20,000
Prakash ChandranRevoke · 20,000
Prakash ChandranRevoke · 20,000
Company Information
Incorporated1999
ChairmanCHANGAVALLI VENKAT
AuditorDeloitte Haskins & Sells LLP
Investor Email[email protected]
📍 Medone House B-75 Road No.33, Wagle Estate, Thane (West), Maharashtra, 400604
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