Haleos Labs Limited (HALEOSLABS)

Healthcare · Pharmaceuticals · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹1,524.75 ↑ 33.8% (1Y)

🎯 Key Takeaways

Haleos Labs Limited is in a mature, cash-generative phase with stable promoter control and minimal institutional presence. The company has demonstrated consistent profitability over the past year, with improving operational metrics in recent quarters despite a recent dip in Q3 2026.
Revenue declined 2.9% QoQ to ₹73 in Q1FY27.
⚠️ 1) Seasonal or demand-related revenue volatility is evident, with a 23% drop in revenue from December 2025 to March 2026, raising concerns about susta

Market Cap

₹461

P/E Ratio

29.2

P/B Ratio

2.35

ROE

7.8%

ROCE

10.0%

Debt/Equity

0.43

Div Yield

0.10%

Promoter

72.1%

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📖 The Story

Haleos Labs Limited is in a mature, cash-generative phase with stable promoter control and minimal institutional presence. The company has demonstrated consistent profitability over the past year, with improving operational metrics in recent quarters despite a recent dip in Q3 2026. It operates in the pharmaceuticals sector with a focus on regulated financial compliance and shareholder governance, reflecting a conservative corporate posture.

📰 What's Happening

In Q1FY27 (March 2026), the company reported revenue of ₹73 crore with operating profit of ₹5 crore (OPM 6.7%), a notable decline from ₹95 crore revenue and ₹10 crore operating profit in December 2025 (OPM 10.7%). This suggests seasonal or demand-driven softness, though profitability remains intact. The board is seeking shareholder approval via postal ballot for key governance matters, including the reappointment of Whole-time Director Mrs. Sudeepthi Gopineedi and approval of managerial remuneration and material related-party transactions for FY 2026-27. Additionally, shareholders must submit tax residency and PAN details by September 25, 2026, to avoid higher TDS (10%-20%) on the final dividend of ₹1.50 per share. Unclaimed dividends from FY 2018-19 will be transferred to the IEPF Suspense Account by November 5, 2026, if not claimed.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	81	95	75	73
Operating Profit	10	10	0	5
OPM %	11.9%	10.7%	0.4%	6.7%
Net Profit	6	7	0	2
EPS	₹20.19	₹21.89	₹1.44	₹8.75

The company's financial trajectory shows a clear peak in profitability during Q4 2025 (December), with revenue of ₹95 crore and net profit of ₹7 crore, followed by a sharp decline in Q1 2026 (March) to ₹73 crore revenue and ₹2 crore net profit. This indicates a potential seasonal slowdown or temporary operational headwinds, though margins remain positive. Despite the dip, the company continues to generate operating cash flow, with ₹34 crore reported in March 2025. The consistent reserve growth and controlled debt levels suggest financial discipline, but the downward trend in top-line and operating performance warrants close monitoring of near-term execution.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue or margin expectations in the latest filings. However, the board's actions — particularly the reappointment of key managerial personnel and approval of remuneration — signal confidence in ongoing governance stability. The emphasis on compliance, including SEBI-mandated trading windows and IEPF transfers, reflects a focus on regulatory adherence rather than aggressive growth. Shareholders are being asked to endorse financial decisions through a postal ballot, indicating a preference for structured, transparent governance over rapid expansion.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	3	3	3	3
Reserves	185	194	203	211
Borrowings	92	84	70	111
Total Liabilities	391	390	394	454
Fixed Assets	217	232	226	268
Investments	0	0	0	0
Total Assets	391	390	394	454

The balance sheet shows stable equity of ₹3 crore and modest reserve growth from ₹194 crore (March 2025) to ₹211 crore (March 2026), indicating retained earnings are being accumulated. Borrowings have decreased from ₹84 crore to ₹70 crore over the same period, suggesting active deleveraging. Total assets rose to ₹454 crore from ₹390 crore, driven by asset growth outpacing liability reduction. This points to a conservative capital allocation strategy focused on strengthening the balance sheet rather than aggressive reinvestment or shareholder returns.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+34
Investing	-15
Financing	-19
Net Cash Flow	-0

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	71.4%	71.8%	72.1%	72.1%
FII	0.0%	0.0%	0.0%	0.0%
DII	0.0%	0.3%	0.3%	0.3%
Public	25.3%	24.6%	24.3%	24.0%
# Shareholders	7,521	7,125	6,937	6,859

Promoter holding remains steady at 72.11% from Q4FY26 to Q1FY27, indicating no recent dilution or stake sale. Institutional ownership (FII and DII) is negligible, with DII slightly increasing from 0.29% to 0.31% and FII remaining at 0%. The number of public shareholders has declined slightly from 7,521 to 6,859, suggesting possible consolidation. There are no signs of activist activity or significant foreign interest, and no pledging of shares is indicated in the data.

⚖️ Peer Comparison — Pharmaceuticals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
SUNPHARMA	4.63 L Cr	38.3	18.7%	14.6%	0.05
DIVISLAB	2.43 L Cr	83.2	23.0%	17.4%	0.00
TORNTPHARM	1.89 L Cr	79.1	15.1%	25.7%	1.76
ZYDUSLIFE	1.16 L Cr	25.9	16.8%	16.6%	0.43
CIPLA	1.15 L Cr	34.0	13.2%	9.8%	0.01
LAURUSLABS	1.00 L Cr	91.8	20.8%	20.6%	0.45
LUPIN	98,305	17.4	27.9%	24.7%	0.26
DRREDDY	97,741	30.3	10.1%	8.4%	0.17
MANKIND	97,467	47.7	13.9%	12.7%	0.38
AUROPHARMA	96,836	26.3	12.8%	9.8%	0.20

🔗 Peer Stock Analyses

SUNPHARMA DIVISLAB TORNTPHARM ZYDUSLIFE CIPLA

⚠️ Risk Factors

1) Seasonal or demand-related revenue volatility is evident, with a 23% drop in revenue from December 2025 to March 2026, raising concerns about sustainability of profitability. 2) Operating performance has declined sharply in the latest quarter, with OPM falling to 6.7% from 11.9% in September 2025, signaling margin pressure without a clear recovery path disclosed. 3) Minimal institutional interest may limit liquidity and analyst coverage, potentially leading to higher volatility. 4) Heavy reliance on regulatory compliance processes (e.g., IEPF claims, TDS documentation) suggests operational complexity and potential for shareholder disengagement if not managed proactively.

📋 Recent Filings

🧠 Analyst's Read

Haleos Labs appears to be a stable, promoter-backed entity with a history of profitability and disciplined balance sheet management, but recent operational softness and lack of growth guidance introduce uncertainty. Investors should monitor the outcome of the upcoming shareholder ballot and any signs of revenue recovery in the next quarterly filing. The company’s future trajectory hinges on whether it can stabilize top-line performance while maintaining compliance and governance standards.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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