Martin & Harris Laboratories Ltd
Old Gurugram-based branded-formulations maker with a loyal doctor franchise, steady profits, no debt and a tiny share count that keeps the price above ₹900.
Market cap
₹479.5 Cr
0.50 Cr shares
P/E ratio
11.99
Sector average 30
Book value
₹510.00
P/B 1.88
1-year return
+5.77%
52w ₹820 – ₹1,100
Currently 50% of the way through its 52-week range.
Indicative price history
1Y change
+6.91% ₹897 → ₹959
52-week band in this window: ₹872.37 – ₹980.49. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Branded prescription formulations with a loyal prescriber base in North and East India.
- Revenue about ₹290 Cr and PAT about ₹40 Cr in FY25 (approximate); no debt.
- Very small share count; EPS and book value per share are high.
About Martin & Harris
Martin & Harris Laboratories Ltd is a mid-sized Indian pharmaceutical company headquartered in Gurugram, Haryana, that makes and markets branded prescription formulations – chiefly in gastroenterology, paediatrics, gynaecology, pain management and nutraceuticals – through its own field force to general physicians and specialists across North and East India. Manufacturing is done at its own plant and through WHO-GMP contract manufacturers.
The company traces its roots to the 1960s and remains promoter-controlled, with a small legacy base of public shareholders from earlier decades. With only a few tens of lakh shares outstanding, per-share numbers are large: revenue in the ₹250–300 Cr range and net profit of roughly ₹30–35 Cr translate into an EPS of ₹60–70 and a book value of several hundred rupees. The company has no bank borrowings and has historically paid dividends.
Financial figures and the incorporation date here are approximate and were not re-verified against MCA filings at the time of writing.
This profile was compiled from public information already known to the research desk; live registry and dealer pages could not be re-checked at the time of writing, so identifiers that could not be confirmed are left blank and dates of appointment are indicative. Line items are reconstructed around reported totals; treat them as approximate.
Where the revenue comes from
- Gastroenterology & paediatrics40%
Core prescription brands
- Gynaecology & nutraceuticals30%
Supplements and women's-health products
- Pain, anti-infectives & others25%
Acute-therapy brands
- Contract manufacturing & exports5%
Third-party and export sales
Products & services
Gastro and paediatric brands
Prescription formulations for digestive and children's health.
Nutraceuticals
Vitamin, mineral and protein supplements.
Acute-care brands
Analgesics and anti-infectives.
What works
- • Established brands with prescriber loyalty and a long operating history.
- • Debt-free, cash-generative and dividend-paying; net margins around 12%.
- • Trades at a low-teens multiple of estimated earnings, cheap against listed formulation peers.
What to watch
- • Small scale and regional concentration versus national pharma companies.
- • Exposure to NPPA price control on essential-medicine brands.
- • Very small share count and float make the stock illiquid; figures are approximate.