RUBICON RESEARCH LIMITED
₹1,609.90+₹49.25 (+3.2%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹11,141 Cr
- P/E
- 65.0x
- EV / EBITDA
- 115.2x
- Revenue
- ₹1,074 Cr
- Net margin
- 3.8%
- ROCE
- 8.2%
Price chart
Technical chartScreen technicals →+164.2% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -0.4%
- 3M
- +7.6%
- 6M
- +65.9%
- 1Y
- +164.2%
- 5Y
- +160.4%
52-week range
Day change +₹49.25 (+3.2%) from ₹1,561 to ₹1,610 · Last close Oct 30, 2026
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 19.1%
Concerns1
- Low return on equity of 5.0%
Rule-based from financial data. Not advice.
About the company
Rubicon Research Limited operates as a specialty pharmaceutical company in India, the United States, and internationally.
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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.
- Sector
- Healthcare
- Shares outstanding
- 16.5 Cr shares
- ISIN
- INE506V01022
- BSE code
- 544578
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹11,141 Cr
- P/E
- 65.0x
- EV / EBITDA
- 115.2x
- EV / Sales
- 18.1x
- P/S
- 17.7x
- Earnings yield
- 1.5%
- 52-week high
- ₹1,861.15
- 52-week low
- ₹577.65
Profitability
- Operating margin
- 11.6%
- Net margin
- 3.8%
- EBITDA margin
- 15.7%
- ROE
- 5.0%
- ROCE
- 8.2%
- ROA
- 2.4%
- Dividend payout
- 1.0%
- Tax rate
- 29.0%
- Other income, % of PBT
- 76.5%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,074 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 70.2%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.1%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹99.0 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 130.2%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 600.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -16.5%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹83.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -210.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹1.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 35.6%
Solvency and efficiency
- Current ratio
- 6.01
- Debt / Equity
- 0.87
- Debt / Assets
- 0.41
- Debt / EBITDA
- 4.16
- Interest coverage
- 2.35
- Financial leverage
- 2.14
- CFO / Net profit
- 3.46
- Cash / Market cap
- 6.7%
- Cash per share
- ₹45.03
- Asset turnover
- 0.62
- Fixed asset turnover
- 2.72
- Capital intensity
- 0.37
- Debtor days
- 146 days
- Inventory turnover
- 1.18
- Cash conversion cycle
- 288 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹16 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹803 Cr |
| Sales | Operating profit | ₹271 Cr |
| Operating profit | Interest | ₹34 Cr |
| Operating profit | Depreciation | ₹32 Cr |
| Operating profit | Profit before tax | ₹205 Cr |
| Other income | Profit before tax | ₹19 Cr |
| Profit before tax | Tax and other | ₹55 Cr |
| Profit before tax | Net profit | ₹168 Cr |
Revenue and net profit
Revenue grew 70.2% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹331 Cr | ₹53 Cr |
| FY2022 | ₹400 Cr | ₹17 Cr |
| FY2023 | ₹394 Cr | -₹17 Cr |
| FY2024 | ₹631 Cr | ₹24 Cr |
| FY2025 | ₹1,074 Cr | ₹168 Cr |
Cash flows
FY2025: ₹30.0 Cr from operations, ₹20.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹47 Cr | ₹18 Cr |
| FY2022 | -₹71 Cr | -₹114 Cr |
| FY2023 | -₹75 Cr | -₹107 Cr |
| FY2024 | ₹83 Cr | -₹47 Cr |
| FY2025 | ₹30 Cr | ₹20 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,074 Cr+70.2%1Y
- Net profit
- ₹168 Cr+600.0%1Y
- Cash from operations
- ₹30 Cr
- Free cash flow
- ₹20 Cr
- Revenue CAGR, 5Y
- 19.1%
- EBITDA CAGR, 5Y
- -1.7%
- Net profit CAGR, 5Y
- -16.5%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,074 Cr | ₹271 Cr | — | ₹168 Cr | ₹30 Cr | ₹20 Cr | 25.2% | +70.2% | +600.0% |
Monthly returns
Month-by-month returns of RUBICON across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,341 Cr |
| Equity capital | ₹15 Cr |
| Reserves | ₹652 Cr |
| Borrowings | ₹408 Cr |
| Other liabilities | ₹265 Cr |
| Assets | ₹1,341 Cr |
| Fixed assets | ₹259 Cr |
| Capital work in progress | ₹6 Cr |
| Investments | ₹36 Cr |
| Other assets | ₹1,040 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
RUBICON trades at 65.0x earnings against a peer median of 52.6x (a 24% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| RUBICON RESEARCH LIMITEDRUBICONthis companyP/E ↑ premium | ₹11,141 Cr | 65.0x | — | 5.0% | 115.2x |
| Rainbow Children's Medicare LimitedRAINBOW | ₹12,756 Cr | 51.8x | 8.1x | 16.7% | 29.5x |
| ALIVUS LIFE SCIENCES LIMITEDALIVUS | ₹10,777 Cr | 20.3x | 3.6x | 20.2% | 15.2x |
| Vijaya Diagnostic Centre LimitedVIJAYA | ₹10,297 Cr | 69.2x | 12.1x | 17.6% | 45.6x |
| Metropolis Healthcare LimitedMETROPOLIS | ₹9,882 Cr | 74.0x | 7.4x | 11.3% | 36.5x |
| Sanofi Consumer Healthcare India LimitedSANOFICONR | ₹9,742 Cr | 45.3x | 37.8x | — | — |
| JYOTHY LABS LIMITEDJYOTHYLAB | ₹9,555 Cr | 27.2x | 6.6x | 32.4% | 17.6x |
| HealthCare Global Enterprises LimitedHCG | ₹9,408 Cr | 513.0x | 8.0x | 2.8% | 49.9x |
| Sanofi India LtdSANOFI | ₹9,387 Cr | 25.4x | 12.0x | — | — |
| Peer median | — | 52.6x | 5.9x | 12.1% | 38.3x |
Year-to-date ROI
RUBICON since 1 January, against earlier years.
Historical volatility
RUBICON's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 34.0% |
| FY2022 | 10.0% |
| FY2023 | 5.0% |
| FY2024 | 12.0% |
| FY2025 | 25.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,074 Cr |
| Costs | |
| Interest | ₹34 Cr |
| Expenses | ₹803 Cr |
| Operating profitOperating Profit | ₹271 Cr |
| Other income and charges | |
| Profit before tax | ₹223 Cr |
| Tax | |
| Net profitNet Profit | ₹168 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,341 Cr |
| Equity capitalEquity Capital | ₹15 Cr |
| Reserves | ₹652 Cr |
| Borrowings | ₹408 Cr |
| Other liabilitiesOther Liabilities | ₹265 Cr |
| AssetsTotal Assets | ₹1,341 Cr |
| Fixed assetsFixed Assets | ₹259 Cr |
| Capital work in progressCWIP | ₹6 Cr |
| Investments | ₹36 Cr |
| Other assetsOther Assets | ₹1,040 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹30 Cr |
| Investing cash flowCash from Investing Activity | -₹10 Cr |
| Financing cash flowCash from Financing Activity | -₹34 Cr |
| Change in cashNet Cash Flow | -₹15 Cr |
Learn while you research
Academy chapters picked for RUBICON RESEARCH LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 65.0, learn when high multiples are justified.6 min read
- 04 Growth Investing70% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Sector Analysis MattersHealthcare valuation is driven by pipelines and regulation, not just numbers.6 min read