Morepen Laboratories Ltd. was listed on the BSE on November 24, 1999. In the last five years, its stock has given a massive return of more than 250%. Will Morepen Lab continue to provide such great returns in the future as well? Let’s explore Morepen Lab’s growth potential and the Morepen Lab share price target 2025 to 2050 in this article.
About Morepen Lab
Morepen Laboratories Limited is a leading Indian pharmaceutical and healthcare company that manufactures and markets active pharmaceutical ingredients (APIs), completed formulations, diagnostics, and over-the-counter (OTC) goods. It was established in 1984 and is based in Himachal Pradesh. The company has a large global presence, exporting to more than 80 countries and operating in the consumer health category under the main brand “Dr. Morepen”.
Morepen Lab Business Model
- API Manufacturing Business: Morepen Laboratories manufactures Active Pharmaceutical Ingredients (APIs), which are the raw materials used to produce finished drugs. The company has a strong presence in export markets, especially in the U.S. and Europe, with key products like Loratadine, Atorvastatin, and Montelukast.
- Finished Dosage Formulations Business: Morepen also produces branded and generic finished pharmaceutical products like anti-allergics, antibiotics, gastroenterology, and pain management.
- Diagnostics & Medical Devices Business: Morepen manufactures medical devices such as blood pressure monitors, glucometers, and thermometers under the “Dr. Morepen” brand.
- Over-the-Counter (OTC) Healthcare Products: Morepen markets a range of OTC products like antacids, cough syrups, and skin ointments. These products are sold under its in-house brands and are widely available through pharmacies and modern trade outlets across India.
- Contract Development & Manufacturing Services (CDMO): The company provides manufacturing and formulation services to global pharmaceutical firms. This includes contract manufacturing of APIs and finished dosage forms, allowing clients to leverage Morepen’s regulatory-compliant infrastructure and cost-effective production.
Morepen Lab Fundamental Analysis
| Stock Name | Tata Consultancy Services Ltd. |
|---|---|
| NSE Symbol | MOREPENLAB |
| Market Cap | ₹ 3319 Cr. |
| 52W High | ₹ 101 |
| 52W Low | ₹ 41.7 |
| Stock P/E | 28.1 |
| Book Value | ₹ 2.11 |
| Dividend Yield | 0.00 % |
| ROCE | 15.1 % |
| ROE | 11.8 % |
| Face Value | ₹ 2.00 |
| Industry PE30.8 | 30.8 |
| Price to book value2.87 | 2.87 |
| Debt to equity0.09 | 0.09 |
| PEG Ratio0.98 | 0.98 |
| Quick ratio1.72 | 7.72 |
| Shareholders | March 2023 | March 2024 | March 2025 |
|---|---|---|---|
| Promoters | 38.22% | 38.22% | 35.66% |
| FIIs | 0.96% | 1.85% | 2.22% |
| DIIs | 2.93% | 2.15% | 1.64% |
| Government | 0.01% | 0.01% | 0.01% |
| Public | 57.88% | 57.76% | 60.46% |
| No. of Shareholders | 3,06,150 | 3,36,019 | 4,48,361 |
Key Factors Driving Morepen Lab’s Future Growth
- Expansion of API and Diagnostic Capabilities: Morepen Labs is strategically scaling up its Active Pharmaceutical Ingredients (API) manufacturing and diagnostic business to meet growing global demand. With its strengths in APIs like Loratadine, Atorvastatin, and Montelukast, and a growing presence in home diagnostic devices such as glucometers and BP monitors, Morepen is well-positioned to benefit from increasing health awareness and preventive care trends, both in India and internationally.
- Government Support and ‘Make in India’ Push: The Indian government’s Production Linked Incentive (PLI) scheme for pharmaceuticals and APIs directly benefits players like Morepen.
- Focus on Export Markets: Morepen is extending its export base, particularly in regulated regions, while also strengthening its global footprint through regulatory licenses (including USFDA and EU-GMP). With expanding global demand for low-cost generics and vital pharmaceuticals, the company is well-positioned to increase revenue through high-margin foreign sales
- Increased Demand for Preventive Healthcare: Post-COVID, there has been a significant shift in consumer behavior towards proactive health management. Morepen’s strong presence in the over-the-counter (OTC) and diagnostics market, coupled with direct-to-consumer channels, enables it to tap into this rising demand.
- Strengthening of Supply Chain and Digital Distribution: Morepen is enhancing its supply chain capabilities and leveraging e-commerce platforms and digital marketing to reach end-users directly. This omni-channel approach is improving margins and increasing consumer engagement, especially in the home diagnostics and wellness segments.
Pros of Morepen Lab
- Strong Profit Growth: Morepen Lab has achieved a strong profit growth of 49% CAGR over the last ten years.
- Low PE Ratio Compared to Peers: Morepen Lab has a PE ratio of 28.1, which is lower than the industry average of 30.8, making it relatively undervalued and potentially a good investment opportunity.
- Debt Free Company: Morepen Lab is almost a debt-free company with a debt-to-equity ratio of 0.09, which shows its financial stability.
- Increase in DIIs Holding: Domestic Institutional Investors (DIIs) have increased their holding to 1.67% in March 2025 from 1.64% in December 2024, indicating growing confidence in the future potential of Morepen Lab by the DIIs.
Cons of Morepen Lab
- Low Promoter Holding: Morepen Lab’s promoter holding is 35.6%, which is relatively low. This may indicate low promoter confidence and less control over decision-making, allowing outside investors to have more influence.
- Decrease in FIIs Holding: Foreign Institutional Investors (FIIs) have reduced their holding to 1.94% in March 2025 from 2.22% in December 2024, indicating a decline in FII’s confidence in the company’s future growth prospects.
Morepen Lab Ltd Balance Sheet
| Particulars | March 2023 | March 2024 | March 2025 |
|---|---|---|---|
| Equity Capital | 102 | 102 | 110 |
| Reserves | 651 | 745 | 1,047 |
| Borrowings | 25 | 29 | 105 |
| Other Liabilities | 332 | 417 | 517 |
| Total Liabilities | 1,110 | 1,293 | 1,778 |
| Fixed Assets | 267 | 307 | 489 |
| CWIP | 17 | 24 | 28 |
| Investments | 0 | 1 | 85 |
| Other Assets | 827 | 960 | 1,176 |
| Total Assets | 1,110 | 1,293 | 1,778 |
By the end of 2025, the Morepen Lab share price is expected to be around ₹85 in normal conditions. In a bear market, it might be ₹80, and in a bull market, it may go up to ₹100.
| Morepen Lab Share Price Target 2025 | Rupees (₹) |
|---|---|
| 1st Target | 80 |
| 2nd Target | 85 |
| 3rd Target | 100 |
In 2026, the Morepen Lab share price is expected to be around ₹110 in a normal situation. In a bear market, it might be ₹100, and in a bull market, it may cross ₹130.
| Morepen Lab Share Price Target 2026 | Rupees (₹) |
|---|---|
| 1st Target | 100 |
| 2nd Target | 195 |
| 3rd Target | 130 |
According to our analysis, the Morepen Lab share price is expected to be around ₹110 in 2027. In a bear market, it might be ₹90, and in a bull market, it may cross ₹170.
| Morepen Lab Share Price Target 2027 | Rupees (₹) |
|---|---|
| 1st Target | 90 |
| 2nd Target | 110 |
| 3rd Target | 170 |
According to our analysis, the Morepen Lab share price may trade near ₹150 by 2028; bearish conditions could pull it down to ₹120, while a strong bull run might lift it to ₹220.
| Morepen Lab Share Price Target 2028 | Rupees (₹) |
|---|---|
| 1st Target | 120 |
| 2nd Target | 150 |
| 3rd Target | 220 |
In a normal situation, the Morepen Lab share price is projected to be approximately ₹200 in 2029. In a bear market, the value may be as low as ₹140, while in a bull market, it may rise to ₹300.
| Morepen Lab Share Price Target 2029 | Rupees (₹) |
|---|---|
| 1st Target | 140 |
| 2nd Target | 200 |
| 3rd Target | 300 |
In a normal situation, the Morepen Lab share price is projected to be approximately ₹200 in 2030. In a bear market, the value may be as low as ₹170, while in a bull market, it may rise to ₹350.
| Morepen Lab Share Price Target 2030 | Rupees (₹) |
|---|---|
| 1st Target | 170 |
| 2nd Target | 200 |
| 3rd Target | 350 |
By 2035, the Morepen Lab share price is projected to be around ₹550 under normal conditions. In adverse markets, the price could fall to ₹350, while favorable conditions might push it up to ₹1100.
| Morepen Lab Share Price Target 2035 | Rupees (₹) |
|---|---|
| 1st Target | 350 |
| 2nd Target | 550 |
| 3rd Target | 1100 |
Under normal conditions, the Morepen Lab share price might hit ₹1500 by 2040. A bearish trend could lower it to ₹700, whereas a bullish surge could raise it to ₹3300.
| Morepen Lab Share Price Target 2040 | Rupees (₹) |
|---|---|
| 1st Target | 700 |
| 2nd Target | 1500 |
| 3rd Target | 3300 |
In 2050, the Morepen Lab share price is expected to be around ₹10,000 in a normal situation. In a bear market, it might be ₹2800, and in a bull market, it may go up to ₹19,800.
| Morepen Lab Share Price Target 2050 | Rupees (₹) |
|---|---|
| 1st Target | 2800 |
| 2nd Target | 10,000 |
| 3rd Target | 19,800 |
| Years | Target Price |
|---|---|
| Morepen Lab Share Price Target 2025 | ₹80 to ₹100 |
| Morepen Lab Share Price Target 2026 | ₹100 to ₹130 |
| Morepen Lab Share Price Target 2027 | ₹90 to ₹170 |
| Morepen Lab Share Price Target 2028 | ₹120 to ₹220 |
| Morepen Lab Share Price Target 2029 | ₹140 to ₹300 |
| Morepen Lab Share Price Target 2030 | ₹170 to ₹350 |
| Morepen Lab Share Price Target 2035 | ₹350 to ₹1100 |
| Morepen Lab Share Price Target 2040 | ₹700 to ₹3300 |
| Morepen Lab Share Price Target 2050 | ₹2800 to ₹19,800 |
Disclaimer
This article is for educational purposes only. It is not a stock recommendation and should not be treated as such. Please ask your financial advisor before making any investment decision.
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