Key Metrics of Orbicular Pharmaceutical Technologies Private Limited
About Orbicular Pharmaceutical Technologies Private Limited
Sectors
Company details
- Registered office
- P. No. 53, Aleap Industrial Estate, Gajularamaram, Behind Pragathi Nagar, Kukatpally, Hyderabad, In-ts, 500090
Operational Areas of Orbicular Pharmaceutical Technologies Private Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 16 Sep 2026 | ICRA | Reaffirmed | BBB+ | A2 | Stable | ₹440 Cr | View |
| 17 Aug 2026 | ICRA | Assigned | BBB+ | A2 | Stable | ₹100 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Experienced promoters and established track record in the pharmaceutical industry
OPTPL is promoted by Dr. M.S Mohan, Dr. Hiren Patel, Dr.
+ High focus on research and development
The company has an experienced R&D team, headed by promoters, Dr.
+ Presence in niche and high-demand peptide products driving a strong order book position and healthy revenue visibility
The company is engaged in R&D and sales of generic drugs in regulated and semi-regulated markets.
+ Healthy financial risk profile
OPTPL has a healthy financial profile, characterised by comfortable coverage and leverage indicators.
Credit challenges
− High revenue concentration
OPTPL's revenue profile remains concentrated, with a significant proportion of revenues derived from a limited number of recently commercialised products.
− Dependence on third-party vendors for manufacturing and high working capital intensity
OPTPL follows an asset-light business model and relies on third-party contract manufacturing organisations (CMOs/CDMOs) for commercial production.
− Exposure to regulatory risks and volatility in foreign exchange rates
As is prevalent in the pharmaceutical industry, OPTPL remains exposed to regulatory requirements related to product registrations, approvals and manufacturing compliance across its key markets.
Could lead to an upgrade
The ratings may be upgraded if the company demonstrates a sustained scale-up in revenues and improvement in profitability, riding on sales of the recently developed and commercialised new molecules. Enhanced revenue diversification manifesting in lower dependence on a limited number of products/molecules / geographies, while maintaining a healthy financial profile, could also lead to a positive rating action.
Could lead to a downgrade
The ratings may be downgraded if the company witnesses a slower-than-expected scale-up in revenues and earnings due to delays in product commercialisation or pressures on profitability because of pricing pressures or otherwise. Any significant rise in working capital intensity, adversely impacting
Agency-reported financials (ICRA, 16 Sep 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹265 Cr | ₹525 Cr |
| PAT | ₹28.70 Cr | ₹53.30 Cr |
| OPBDIT/OI | 36.5% | 22.5% |
| PAT/OI | 10.8% | 10.2% |
| Total outside liabilities/Tangible net worth (times) | 1.00× | 2.50× |
| Total debt/OPBDIT (times) | 2.00× | 2.70× |
| Interest coverage (times) | 5.10× | 7.40× |
| Revenue growth (YoY) | — | 98.0% |
| EBITDA (margin × income) | ₹96.80 Cr | ₹118 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹194 Cr | ₹319 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹18.98 Cr | ₹15.96 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Loan | Other | — | ₹236 Cr | — | A2 | Reaffirmed | ICRA |
| Others | Other | — | ₹196 Cr | — | — | Assigned | ICRA |
| Unallocated | Other | ₹100 Cr | ₹8.00 Cr | −92.0% | A2 | Reaffirmed | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | FY FY | Term loans | — | 31 Mar 2024 | 31 Mar 2032 | ₹236 Cr | BBB+ | Outstanding |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 68% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 66% chance the next rating action is stable or better
- Current rating BBB+ (investment grade)
- Interest coverage 7.4×
- ₹8 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
September 16, 2026 Orbicular Pharmaceutical Technologies Private Limited: Ratings reaffirmed and assigned for enhanced amount Summary of rating action Previous rated Current rated Financial Sector Instrument* amount amount Rating action # Regulator (Rs. crore) (Rs. crore) [ICRA]BBB+(Stable);
From the report
Its liquidity remains supported by cash and bank balances of around Rs. 57.5 crore as on March 31, 2026, and adequate headroom in working capital facilities.
From the report
Its liquidity remains supported by cash and bank balances of around Rs. 57.5 crore as on March 31, 2026, and adequate headroom in working capital facilities. www.icra.in Sensitivity Label : Public Page |1 The ratings are, however, constrained by the company's high revenue concentration, with the top two products accounting for over 90% of FY2026 revenues.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Orbicular Pharmaceutical Technologies Private Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Dr. Reddy's Laboratories |
Part of Dr. Reddy's Laboratories. | drreddys.com | 1984 | India |
 Aurobindo Pharma |
Part of Aurobindo Pharma. | aurobindo.com | 1986 | Hyderabad, India |
 Cipla |
Part of Cipla. | cipla.com | 1935 | Mumbai, India |
| Formulations & Contract Manufacturing · Pharmaceuticals & Healthcare | lupin.com | 1968 | India | |
 Glenmark Pharmaceuticals |
Part of Glenmark Pharmaceuticals. | glenmarkpharma.com | 1977 | Mumbai, India |
| Part of Biocon. | biocon.com | 1978 | Bangalore, India | |
 Alkem Laboratories Limited |
Formulations & Contract Manufacturing · Pharmaceuticals & Healthcare | alkemlabs.com | 1973 | Mumbai, Maharashtra, India |
 Torrent Pharmaceuticals |
Formulations & Contract Manufacturing · Pharmaceuticals & Healthcare | torrentpharma.com | 1959 | Ahmedabad, India |
| Aster DM Quality Care Limited | Discovered Companies · Other Industries | — | — | Hyderabad, Telangana, India |
 Thomas Cook India |
Part of Thomas Cook Group. | thomascook.in | 1978 | Mumbai, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.