अApnaFunda

LYKA LABS LTD (LYKALABS)

Health Technology · Pharmaceuticals: Generic · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.35 / 100
Profitability 19Growth 61Balance sheet 27

Share price

Closing priceAdjusted for splits and bonus issues.

₹80.6 latest close · +12.9% over the last 90 sessions

₹60₹70₹80₹90Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹60₹70₹80₹90Jul 3Sep 4Nov 9

₹80.6 month-end · +0.2% over 12 months

₹60₹80Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹60₹80Nov '25May '26Nov '26

₹80.6 month-end · −39.3% over 3 years

₹50₹100₹150Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹50₹100₹150Nov '23May '25Nov '26

₹80.6 month-end · +231.0% since Jan '19

₹0₹100₹200Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹100₹200Jan '19Dec '22Nov '26

52-week range ₹44.10 to ₹96.00 · 1-year volatility 46.0%

How rough has the ride been?

Maximum drawdown-82.3%not yet recovered
1-year volatility46.0%annualised

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−81.7% 0%−25%−50%−75%2020202220242026−81.7%
Largest drawdowns

-82.3% (2021-12 peak to 2026-03 low, not yet recovered)

-69.8% (2019-04 peak to 2020-03 low, recovered 2021-04)

-29.2% (2021-05 peak to 2021-06 low, recovered 2021-07)

Where does it rank among Health Technology peers?

Each cell is the company's percentile rank among its Health Technology peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE5th▼ 28 pts vs a year ago
  • Op. margin32ndflat vs a year ago
  • Revenue growth12th▼ 68 pts vs a year ago
  • EPS growth4th▼ 96 pts vs a year ago
  • Debt/equity ↓20th▼ 14 pts vs a year ago
  • Cash cycle ↓80th▲ 15 pts vs a year ago
  • P/E ↓6thflat vs a year ago
  • 12M momentum42nd▲ 34 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹80.60
ROCE
-6.0%
Market Cap
₹291 cr
Revenue (TTM)
₹138 cr
P/S
2.1x
P/B
3.1x
ROE
-9.7%
Operating Margin
10.8%
Debt / Equity
0.5x
Promoter Holding
58.5%
12M Momentum
0.2%

52-week range

₹44.10₹96.00
70% of the way from its 52-week low to its high

Price risk

1Y volatility
46.0%
Beta vs sector
1-year daily
0.77

Balance sheet & cash

Interest cover
operating profit ÷ interest
-2.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
4.09x
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 4checks within range1 near a threshold
Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+11 daysWithin range

Debtor days are above the median of the previous three fiscal years by 11 days (100 vs 89). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2% of fixed assetsWithin range

Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+24 days / 2 yrsWithin range

Days payable changed by +24 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, promoters added 3.6 pts.
  • The number of shareholders rose from 26,652 to 29,369 (+10%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters54.8%58.5%+3.6 pts
FIIs0.2%0.2%0.0 pts
DIIs0.4%0.7%+0.3 pts
Public and others44.6%40.7%-3.9 pts

Number of shareholders

29,369shareholders+10% since Sep '23
26k27k28k29k Sep '23Mar '24Sep '24Mar '25Sep '25Jun '26
Sep '23: 26,652
Dec '23: 26,422
Mar '24: 25,717
Jun '24: 25,716
Sep '24: 28,943
Dec '24: 29,099
Mar '25: 28,472
Jun '25: 28,189
Sep '25: 27,743
Mar '26: 26,727
Jun '26: 29,369
26k27k28k29k Sep '23Sep '24Sep '25Jun '26
Sep '23: 26,652
Dec '23: 26,422
Mar '24: 25,717
Jun '24: 25,716
Sep '24: 28,943
Dec '24: 29,099
Mar '25: 28,472
Jun '25: 28,189
Sep '25: 27,743
Mar '26: 26,727
Jun '26: 29,369

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+2.2%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like LYKA LABS LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −24% to +48% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+3.4%, 80% range −8.7% to +8.5%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ORIENTALTL · Jul 2022: −60.3% vs market
OMAXE · May 2022: −49.2% vs market
SANGHIIND · Nov 2023: −48.4% vs market
PRAXIS · Oct 2023: −44.7% vs market
NIPPOBATRY · Nov 2023: −41.8% vs market
VITAL · Feb 2025: −41.6% vs market
ENIL · Jun 2022: −37.2% vs market
DELTAMAGNT · Aug 2023: −36.0% vs market
REPRO · Nov 2021: −35.3% vs market
THEMISMED · Mar 2020: −34.8% vs market
VALIANTORG · Jun 2025: −33.2% vs market
ACLGATI · Dec 2021: −25.2% vs market
LORDSCHLO · Jan 2025: −24.6% vs market
RAMANEWS · Jun 2020: −21.9% vs market
ZODIACLOTH · Apr 2022: −21.8% vs market
SHALPAINTS · Feb 2023: −21.6% vs market
TOKYOPLAST · Feb 2020: −18.0% vs market
INDIANCARD · Mar 2020: −11.7% vs market
TRF · Jun 2021: −10.4% vs market
AHLEAST · Aug 2022: −10.4% vs market
SCHAND · Aug 2020: −9.2% vs market
ASIANTILES · Aug 2023: −8.0% vs market
SOLARA · Aug 2024: −5.8% vs market
MAHEPC · May 2024: −0.8% vs market
RAMCOSYS · Jan 2024: +1.8% vs market
VALIANTLAB · Aug 2025: +2.7% vs market
ZOTA · Jun 2023: +4.0% vs market
VIPCLOTHNG · Sep 2020: +5.0% vs market
AURIONPRO · Apr 2022: +7.0% vs market
INDTERRAIN · Dec 2021: +7.6% vs market
WINDMACHIN · Apr 2021: +9.1% vs market
MTNL · Sep 2023: +12.4% vs market
NGIL · Sep 2025: +13.5% vs market
PROZONER · Jun 2025: +17.6% vs market
BYKE · Sep 2021: +32.0% vs market
ROSSELLIND · Jan 2020: +37.6% vs market
CCHHL · Jan 2023: +41.7% vs market
PRICOLLTD · Mar 2021: +50.5% vs market
SHILPAMED · Feb 2024: +52.7% vs market
SHAKTIPUMP · Dec 2020: +59.5% vs market
KUANTUM · Jan 2022: +59.5% vs market
ATULAUTO · Dec 2022: +60.3% vs market
PREMEXPLN · Mar 2021: +65.7% vs market
RUCHINFRA · Mar 2020: +80.8% vs market
ORIENTHOT · Dec 2021: +80.9% vs market
HARRMALAYA · May 2020: +82.8% vs market
CLEDUCATE · Sep 2021: +103.7% vs market
SPECIALITY · Jul 2021: +132.9% vs market
ROHLTD · Mar 2022: +136.1% vs market
SDBL · May 2022: +235.4% vs market
Similar setups +2.2%All companies −1.2%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 4 beyond the range shown, drawn at the edge

Similar setups' median
+2.2%
All companies' median
−1.2%
Beat the market
52% vs 49%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ATULAUTO
Consumer Durables
Dec 2022 —-6% +47%−13% +60%
SHALPAINTS
Process Industries
Feb 2023 —-7% +18%−18% −22%
AURIONPRO
Technology Services
Apr 2022 —-8% +101%−10% +7%
SDBL
Consumer Non-Durables
May 2022 —-4% +35%−11% +235%
SPECIALITY
Consumer Services
Jul 2021 —-8% +135%−2% +133%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INDTERRAIN
Consumer Non-Durables
Dec 2021 —-10% +73%−10% +8%
VITAL
Process Industries
Feb 2025 —0% −11%−33% −42%
VIPCLOTHNG
Consumer Non-Durables
Sep 2020 —-8% +5%−18% +5%
How reliable is this?

Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and revenue growth. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to LYKA LABS LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What changed?

30 events since Apr '21

  1. SepPeer rankMoved into the 3rd quartile of Health Technology on operating margin (from the bottom quartile).
  2. JunPeer rankSlipped to the bottom quartile of Health Technology on ROCE (from the 3rd quartile).
  3. MarResultsEPS (TTM) turned negative.
  4. MarPriceFell 82% from the Dec 2021 peak to the Mar 2026 low.
  5. JanDebtDebt / equity halved over 12 months to 0.37x.
  6. DecResultsYear-on-year EPS growth turned negative.
  7. DecPeer rankSlipped to the bottom quartile of Health Technology on operating margin (from the 3rd quartile).
  8. SepPeer rankMoved into the top quartile of Health Technology on EPS growth (from the bottom quartile).
Show 22 earlier events
  1. AugSharesShare count is up 9.1% over 12 months.
  2. JunPeer rankMoved into the 3rd quartile of Health Technology on ROCE (from the bottom quartile).
  3. JunDebtDebt / equity halved over 12 months to 0.37x.
  4. SepPromoterPromoter holding rose 3.3 pts to 58.1%.
  5. SepResultsEPS (TTM) turned positive.
  6. SepPeer rankMoved into the 3rd quartile of Health Technology on operating margin (from the bottom quartile).
  7. JulSharesShare count is up 6.5% over 12 months.
  8. JunDebtDebt / equity fell below 1.0x (0.87x).
  9. JanDebtDebt / equity halved over 12 months to 1.63x.
  10. JunResultsEPS (TTM) turned negative.
  11. JunPeer rankSlipped to the bottom quartile of Health Technology on ROCE (from the top quartile).
  12. JunDebtDebt / equity halved over 12 months to 1.63x.
  13. JunSharesShare count is up 6.9% over 12 months.
  14. JunResultsEPS (TTM) turned positive.
  15. JunPeer rankMoved into the top quartile of Health Technology on ROCE (from the 3rd quartile).
  16. NovPriceRegained the 2021-08 peak, 3 months after the low.
  17. AugPriceFell 29% from the Aug 2021 peak to the Aug 2021 low.
  18. JulPriceRegained the 2021-05 peak, 1 month after the low.
  19. JunResultsRevenue (TTM) reached a new high of ₹86 cr.
  20. JunPriceFell 29% from the May 2021 peak to the Jun 2021 low.
  21. JunPeer rankMoved into the 3rd quartile of Health Technology on ROCE (from the bottom quartile).
  22. AprPriceRegained the 2019-04 peak, 13 months after the low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹138 cr-9.7%-6.0%0.5x
2026-10—₹138 cr-9.7%-6.0%0.5x
2026-09—₹138 cr-9.7%-6.0%0.5x
2026-08—₹128 cr-10.8%-6.0%0.5x
2026-07—₹128 cr-10.8%-6.0%0.5x
2026-06—₹128 cr-10.8%-6.0%0.5x
2026-05—₹134 cr-0.6%10.0%0.4x
2026-04—₹134 cr-0.6%10.0%0.4x
2026-03—₹134 cr-0.6%10.0%0.4x
2026-02107.5x₹137 cr2.0%10.0%0.4x
2026-01123.7x₹137 cr2.0%10.0%0.4x
2025-12130.8x₹137 cr2.0%10.0%0.4x
2025-1138.1x₹141 cr7.0%10.0%0.4x
2025-1044.6x₹141 cr7.0%10.0%0.4x
2025-0945.5x₹141 cr7.0%10.0%0.4x
2025-0844.2x₹139 cr7.2%10.0%0.4x
2025-0751.6x₹139 cr7.2%10.0%0.4x
2025-0651.1x₹139 cr7.2%10.0%0.4x
2025-05108.6x₹133 cr5.4%4.0%0.9x
2025-0498.8x₹133 cr5.4%4.0%0.9x
2025-0389.7x₹133 cr5.4%4.0%0.9x
2025-02116.0x₹132 cr4.4%4.0%0.9x
2025-01165.6x₹132 cr4.4%4.0%0.9x
2024-12175.4x₹132 cr4.4%4.0%0.9x
2024-11984.7x₹118 cr0.8%4.0%0.9x
2024-10906.6x₹118 cr0.8%4.0%0.9x
2024-09911.7x₹118 cr0.8%4.0%0.9x
2024-08—₹111 cr-3.9%4.0%0.9x
2024-07—₹111 cr-3.9%4.0%0.9x
2024-06—₹111 cr-3.9%4.0%0.9x
2024-05—₹93 cr-27.1%5.0%1.6x
2024-04—₹93 cr-27.1%5.0%1.6x
2024-03—₹93 cr-27.1%5.0%1.6x
2024-02—₹93 cr-27.1%5.0%1.6x
2024-01—₹93 cr-27.1%5.0%1.6x
2023-12—₹93 cr-27.1%5.0%1.6x
2023-11—₹93 cr-27.1%5.0%1.6x
2023-10—₹93 cr-27.1%5.0%1.6x
2023-09—₹93 cr-27.1%5.0%1.6x
2023-08—₹93 cr-27.1%5.0%1.6x
2023-07—₹93 cr-27.1%5.0%1.6x
2023-06—₹93 cr-27.1%5.0%1.6x
2023-057.0x₹194 cr260.6%61.0%9.3x
2023-047.6x₹194 cr260.6%61.0%9.3x
2023-037.7x₹194 cr260.6%61.0%9.3x
2023-028.4x₹194 cr260.6%61.0%9.3x
2023-019.7x₹194 cr260.6%61.0%9.3x
2022-129.5x₹194 cr260.6%61.0%9.3x
2022-1110.3x₹194 cr260.6%61.0%9.3x
2022-1010.2x₹194 cr260.6%61.0%9.3x
2022-099.2x₹194 cr260.6%61.0%9.3x
2022-0811.0x₹194 cr260.6%61.0%9.3x
2022-079.6x₹194 cr260.6%61.0%9.3x
2022-068.2x₹194 cr260.6%61.0%9.3x
2022-05—₹86 cr—10.0%—
2022-04—₹86 cr—10.0%—
2022-03—₹86 cr—10.0%—
2022-02—₹86 cr—10.0%—
2022-01—₹86 cr—10.0%—
2021-12—₹86 cr—10.0%—
2021-11—₹86 cr—10.0%—
2021-10—₹86 cr—10.0%—
2021-09—₹86 cr—10.0%—
2021-08—₹86 cr—10.0%—
2021-07—₹86 cr—10.0%—
2021-06—₹86 cr—10.0%—
2021-05—₹61 cr—-6.0%—
2021-04—₹61 cr—-6.0%—
2021-03—₹61 cr—-6.0%—
2021-02—₹61 cr—-6.0%—
2021-01—₹61 cr—-6.0%—
2020-12—₹61 cr—-6.0%—
2020-11—₹61 cr—-6.0%—
2020-10—₹61 cr—-6.0%—
2020-09—₹61 cr—-6.0%—
2020-08—₹61 cr—-6.0%—
2020-07—₹61 cr—-6.0%—
2020-06—₹61 cr—-6.0%—
2020-05—₹71 cr-13.4%-5.0%2.2x
2020-04—₹71 cr-13.4%-5.0%2.2x
2020-03—₹71 cr-13.4%-5.0%2.2x
2020-02—₹71 cr-13.4%-5.0%2.2x
2020-01—₹71 cr-13.4%-5.0%2.2x
2019-12—₹71 cr-13.4%-5.0%2.2x
2019-11—₹71 cr-13.4%-5.0%2.2x
2019-10—₹71 cr-13.4%-5.0%2.2x
2019-09—₹71 cr-13.4%-5.0%2.2x
2019-08—₹71 cr-13.4%-5.0%2.2x
2019-07—₹71 cr-13.4%-5.0%2.2x
2019-06—₹71 cr-13.4%-5.0%2.2x
2019-05—₹60 cr-37.2%-8.0%2.3x
2019-04—₹60 cr-37.2%-8.0%2.3x
2019-03—₹60 cr-37.2%-8.0%2.3x
2019-02—₹60 cr-37.2%-8.0%2.3x
2019-01—₹60 cr-37.2%-8.0%2.3x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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