Torrent Pharma surpasses Cipla in mcap ranking; soars 6% on Nov 10

Torrent Pharma market capitalisation stood at ₹1.28 trillion on Monday, while that of Cipla at ₹1.22 trillion, shows BSE.

Share price of Torrent Pharmaceuticals today

 

Shares of Torrent Pharmaceuticals hit a record high of ₹3,809.15, as they rallied 6 per cent on the BSE in Monday’s intra-day trade after the company reported strong earnings for the second quarter of the financial year 2025-26.

 

The stock price of the drug company surpassed its previous high of ₹3,790 touched on July 30, 2025. In the past six months, Torrent Pharma has outperformed the market by surging 17 per cent. In comparison, the BSE Sensex and the BSE Healthcare index, were up 1.4 per cent and 6.7 per cent, respectively.

 

Torrent Pharma surpasses Cipla in market capitalisation ranking

 

A sharp rally in Torrent Pharma’s stock price has seen the company surpass Cipla in market capitalisation ranking. At 10:23 AM; Torrent Pharma’s market capitalisation stood at ₹1.28 trillion, while that of Cipla at ₹1.22 trillion on the BSE, the exchange data showed. In the past six months, the Cipla’s share price remained flat or down by 0.26 per cent.

 

Torrent Pharma’s Q2 results

 

Torrent Pharmaceuticals reported a robust set of results for September 2025 quarter (Q2FY26), driven by strong branded business performance across key markets.

 

On a consolidated basis, its revenue from operations rose 15 per cent year-on-year (YoY) to ₹3,256 crore, supported by double-digit growth across major geographies. Operating earnings before interest, tax, depreciation and amortisation (EBITDA) increased 15 per cent YoY to ₹1,083 crore, whereas margins improved by 30 bps YoY to 32.8 per cent. Profit after tax (PAT) grew 30 per cent YoY to ₹591 crore.

 

Torrent Pharma is amongst the Top 5 in the therapeutics segments of Cardiovascular (CV), Gastro Intestinal (GI), Central Nervous System (CNS) and Cosmo-Dermatology.  CATCH STOCK MARKET LIVE UPDATES TODAY 

Brokerages view on Torrent Pharma

 

India growth was driven by strong new launch performance. Its chronic portfolio (13 per cent YoY growth) continued to outperform IPM chronic segment (11 per cent YoY growth). Brazil growth was aided by the performance of top brands & new launches. The growth there has outperformed the market growth significantly (15 per cent vs 7 per cent as per IQVIA).

 

In Germany, the revenue de-grew 5 per cent in constant currency terms impacted by supply disruption at third party suppliers. The US growth was driven by new launches and traction from existing products. 

 

Going ahead, strong India and Brazil momentum besides sustainability of margins would be key, monitorable besides integration of JB Chemicals in the long run. The company has received CCI approval for the JB Pharma acquisition and is poised to purchase a stake from KKR by January 2026, ICICI Securities said in a note.

 

Meanwhile, Torrent Pharma remains confident of growing its India business slightly ahead of the market and expects strong double-digit growth in the US, aided by 4-5 planned launches in the remainder of this year. 

 

Analysts at JM Financial Institutional Securities projects Torrent to deliver a 14 per cent/15 per cent/25 per cent revenue/EBITDA/PAT compound annual growth rate (CAGR) over FY25–28, with 149bps margin expansion supported by pricing-led growth and improving US profitability from new launches. 

 

With the CCI approval in place for JB Chemicals merger, the anticipated timeline for the company to take control in JB is well ahead of analyst's estimations and synergy benefits from the deal are expected to reflect in the earnings from FY27. Hence, the brokerage firm said it values the company at 27x EV/EBITDA multiple on September 2027 basis, arriving at a target price of ₹4,255, and upgrade the rating from HOLD to BUY.