Lasa Supergenerics Ltd (LASA)

Healthcare · Pharmaceuticals · NSE · Updated 17 September 2026

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

₹6.27 ↓ 54.07% (1Y)

🎯 Key Takeaways

Lasa Supergenerics Ltd is currently in a turnaround or restructuring phase, marked by persistent losses, negative ROE and ROCE, and declining revenue trends over the past year. The company operates in the pharmaceutical sector but has not demonstrated operational profitability, with margins severely negative in recent quarters.
Revenue declined 1046.2% QoQ to ₹1 in Q1FY27.
⚠️ Persistent operational losses and negative margins across all recent quarters, with revenue declining sharply year-on-year.

Market Cap

₹31

P/B Ratio

0.38

ROE

-20.2%

ROCE

-17.9%

Debt/Equity

0.03

Promoter

53.6%

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📖 The Story

Lasa Supergenerics Ltd is currently in a turnaround or restructuring phase, marked by persistent losses, negative ROE and ROCE, and declining revenue trends over the past year. The company operates in the pharmaceutical sector but has not demonstrated operational profitability, with margins severely negative in recent quarters. Management has not provided forward guidance on profitability or revenue recovery, and the business appears to be in a capital-light but cash-burning state. The absence of institutional or foreign investor interest and stable promoter holding suggest limited market confidence at this stage.

📰 What's Happening

The most significant recent development is the appointment of Janardan Savala as an additional executive director, announced on August 26, 2026, pending shareholder approval via general meeting or postal ballot. This move is likely intended to strengthen operational and financial coordination at the leadership level. Additionally, the company secured an SDD compliance certificate from SEBI for the quarter ended June 30, 2026, affirming adherence to insider trading regulations with no violations reported. There were no new share purchases or encumbrances disclosed by the promoter during FY27, reinforcing compliance with takeover norms. No financial impact or strategic direction was disclosed in connection with the new director’s appointment.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	20	3	2	-0	1
Operating Profit	-2	-6	-2	-3	-3
OPM %	-10.3%	-182.0%	-105.5%	2638.5%	-240.7%
Net Profit	-21	-6	-3	-4	-4
EPS	₹-4.21	₹-1.25	₹-0.51	₹-0.83	₹-0.71

The company’s financial trajectory shows a sharp decline in revenue and worsening profitability, with revenue dropping from ₹20 crore in June 2025 to just ₹1 crore in June 2026, accompanied by increasingly negative operating margins — reaching -240.7% in the latest quarter. Operating losses have persisted across all recent periods, with net losses of ₹4 crore in both June and March 2026, and EPS remaining deeply negative at ₹-0.71 and ₹-0.83 respectively. Despite the revenue contraction, the company maintains a stable equity base of ₹50 crore, but total assets have declined from ₹102 crore in March 2025 to ₹66 crore in March 2026, indicating asset reduction or reclassification. The financial pattern suggests ongoing operational distress without a clear path to recovery disclosed by management.

🔮 Management Outlook & What's Next

Management has not provided any explicit forward guidance on revenue growth, margin improvement, or profitability in the available filings. The appointment of a new executive director is framed as a structural enhancement to governance and coordination, with no stated financial targets or timelines for performance improvement. The board’s actions appear administrative rather than strategic, focusing on compliance and personnel updates rather than business transformation. Without disclosed objectives or performance metrics, the management outlook remains neutral and non-committal on near-term recovery.

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

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	50	50	50	50
Reserves	41	32	6	-0
Borrowings	20	2	7	10
Total Liabilities	147	102	72	66
Fixed Assets	81	68	40	38
Investments	0	0	0	0
Total Assets	147	102	72	66

The balance sheet indicates a conservative capital structure with negligible debt (D/E of 0.03) and a stable equity base of ₹50 crore, but total assets have declined significantly from ₹102 crore in March 2025 to ₹66 crore in March 2026, suggesting asset divestment, write-downs, or revaluation. Reserves remain minimal or negative in recent periods, and borrowings are low at ₹7–10 crore, implying limited external financing. The company is not aggressively investing or deleveraging but appears to be preserving capital amid ongoing losses. Cash flow from operations remains negative, reinforcing the view that the business is not generating sustainable cash inflows from core operations.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-3
Investing	+8
Financing	-6
Net Cash Flow	-0

👥 Shareholding Pattern

Category	Q1FY26	Q2FY26	Q3FY26	Q4FY26
Promoters	53.6%	53.6%	53.6%	53.6%
FII	0.0%	0.0%	0.0%	0.0%
DII	0.0%	0.0%	0.0%	0.0%
Public	34.1%	42.1%	42.0%	42.0%
# Shareholders	27,188	28,656	28,120	27,702

Shareholding patterns show stable promoter ownership at 53.65% over the last four quarters, with no increase or decrease disclosed, while public shareholding has slightly declined from 42.14% to 42.04%, and the number of public shareholders has reduced from 28,656 to 27,702. Notably, FII and DII holdings remain at 0%, indicating no institutional or mutual fund interest in the stock. This lack of institutional accumulation, combined with a shrinking public float, suggests limited investor confidence and potential liquidity concerns. There are no signs of activist activity or significant stake sales by insiders, but the static ownership structure reflects stagnation rather than confidence in future performance.

⚖️ Peer Comparison — Pharmaceuticals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
SUNPHARMA	4.45 L Cr	36.8	18.7%	14.6%	0.05
DIVISLAB	2.44 L Cr	83.5	23.0%	17.4%	0.00
TORNTPHARM	1.83 L Cr	76.9	15.1%	25.7%	1.76
ZYDUSLIFE	1.10 L Cr	24.6	16.8%	16.6%	0.43
CIPLA	1.10 L Cr	32.6	13.2%	9.8%	0.01
LAURUSLABS	1.03 L Cr	94.1	20.8%	20.6%	0.45
DRREDDY	95,591	29.6	10.1%	8.4%	0.17
AUROPHARMA	94,420	25.6	12.8%	9.8%	0.20
LUPIN	93,605	16.5	27.9%	24.7%	0.26
MANKIND	92,842	45.4	13.9%	12.7%	0.38

🔗 Peer Stock Analyses

SUNPHARMA DIVISLAB TORNTPHARM ZYDUSLIFE CIPLA

⚠️ Risk Factors

1. Persistent operational losses and negative margins across all recent quarters, with revenue declining sharply year-on-year. 2. Absence of any forward-looking guidance or strategic roadmap from management to return to profitability. 3. Declining asset base and negative cash flows from operations, raising concerns about sustainability without external funding. 4. Complete lack of institutional or foreign investor interest, which may limit liquidity and market depth. These factors collectively signal a high-risk profile with no clear catalyst for improvement currently in view.

📋 Recent Filings

🧠 Analyst's Read

The company is in a critical phase where operational and financial turnaround efforts are not yet visible, and management has not articulated a clear path forward. Investors should monitor the eventual approval and impact of the new executive director, any future strategic announcements, and whether cash burn can be stabilized. Until there is evidence of margin improvement or revenue stabilization, the stock remains speculative with elevated execution and solvency risks.

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 2026-09-17.

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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