2 High-ROCE, debt-free microcaps in India’s protected pharma supply chain
- Posted on June 27, 2026
- By Financial Express
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- 1 min read
2 High-ROCE, debt-free microcaps in India’s protected pharma supply chain
Two small, debt-free Indian companies produce pharmaceutical-grade gelatin. Their margins have jumped, their balance sheets are clean, and they still trade in single-digit to mid-teens earnings multiples. Here is what the numbers actually say, and where the easy story falls apart.
