Morepen Laboratories (NSE:MOREPENLAB) Graham Number: ₹24.57 (As of Mar. 2026) — 1328% Above Median

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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NSE:MOREPENLAB Morepen Laboratories Ltd NSE:MOREPENLAB
75 GF Score
Price ₹53.80
GF Value ₹50.03
Valuation Fairly Valued
! 9 Warning Signs
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What is Morepen Laboratories Graham Number?

Morepen Laboratories NSE:MOREPENLAB +2.57% 75 Graham Number is ₹24.57 as of Mar. 2026, which is 100% below its 10-year median of 1.72. GuruFocus rates NSE:MOREPENLAB with a GF Score™ of 75/100 and a GF Value™ of ₹50.03 (Fairly Valued). The stock has 9 warning signs investors should review. Among 604 Drug Manufacturers companies, Morepen Laboratories ranks worse than 67.38% on this metric.

Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.

As of today (2026-07-25), the stock price of Morepen Laboratories is ₹53.80. Morepen Laboratories's graham number for the quarter that ended in Mar. 2026 was ₹24.57. Therefore, Morepen Laboratories's Price to Graham Number ratio for today is 2.19.

The historical rank and industry rank for Morepen Laboratories's Graham Number or its related term are showing as below:

NSE:MOREPENLAB' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.1   Med: 1.72   Max: 4.64
Current: 2.19

During the past 13 years, the highest Price to Graham Number ratio of Morepen Laboratories was 4.64. The lowest was 1.10. And the median was 1.72.

NSE:MOREPENLAB's Price-to-Graham-Number is ranked worse than
67.38% of 604 companies
in the Drug Manufacturers industry
Industry Median: 1.495 vs NSE:MOREPENLAB: 2.19

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.

Morepen Laboratories  (NSE:MOREPENLAB) Graham Number Explanation

Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:

Current price should not be more than 15 times average earnings of the past three years.

Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)

Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.

In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.

Morepen Laboratories's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Mar. 2026 )
=53.80/24.57
=2.19

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Be Aware

Please keep these in mind:

1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.

Morepen Laboratories Graham Number Related Terms

Morepen Laboratories Graham Number Historical Data

* Premium members only.

The historical data trend for Morepen Laboratories's Graham Number can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Morepen Laboratories Graham Number Chart

Morepen Laboratories Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Graham Number
Get a 7-Day Free Trial Premium Member Only Premium Member Only 20.90 14.87 24.96 30.20 25.04

Morepen Laboratories Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 30.20 0.00 24.66 0.00 24.57

NSE:MOREPENLAB vs ZTS, UTHR: Graham Number Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Morepen Laboratories's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Morepen Laboratories Price-to-Graham-Number vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Morepen Laboratories's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where Morepen Laboratories's Price-to-Graham-Number falls into.


NSE:MOREPENLAB
75GF Score
Morepen Laboratories Ltd NSE:MOREPENLAB
Graham Number is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Morepen Laboratories Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

Morepen Laboratories's Graham Number for the fiscal year that ended in Mar. 2026 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*20.576*1.354)
=25.04

Morepen Laboratories's Graham Number for the quarter that ended in Mar. 2026 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*20.576*1.304)
=24.57

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Graham Number →
What does a Graham Number of ₹24.57 mean?
Morepen Laboratories (NSE:MOREPENLAB) has a Graham Number of ₹24.57 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Morepen Laboratories and its competitors. This is 1328% above median its historical median of 1.72. Over the past decade, Morepen Laboratories' Graham Number has ranged from 1.10 to 4.64. According to the industry distribution chart, Morepen Laboratories ranks #407 out of 604 companies in the Drug Manufacturers industry, placing it in the top 67.4%.
Is Morepen Laboratories' Graham Number too high?
Morepen Laboratories' current Graham Number of ₹24.57 is 1328% above median its 10-year median of 1.72. Over the past 10 years, this metric has ranged from a low of 1.10 to a high of 4.64. Based on the distribution chart, Morepen Laboratories ranks #407 out of 604 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Morepen Laboratories has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Morepen Laboratories' Graham Number compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Morepen Laboratories ranks #407 out of 604 companies for Graham Number. This places Morepen Laboratories in the lower half of its industry. The industry median Graham Number is 1.50. Historically, Morepen Laboratories' own Graham Number has ranged from 1.10 to 4.64 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Drug Manufacturers company?
The median Graham Number among Drug Manufacturers companies is 1.50, based on 604 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Morepen Laboratories and its competitors. For the Drug Manufacturers industry, the median Graham Number is 1.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morepen Laboratories's current Graham Number is ₹24.57, which is 1328% above median its own 10-year median of 1.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morepen Laboratories stock overvalued right now?
Based on GuruFocus' analysis, Morepen Laboratories (NSE:MOREPENLAB) is currently considered Fairly Valued. The stock's GF Value™ is ₹50.03, compared to a current price of ₹53.80 — trading 7.5% above its estimated fair value. The current Graham Number is ₹24.57, which is 1328% above median its 10-year median of 1.72. Morepen Laboratories' overall GF Score™ is 75/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Morepen Laboratories (NSE:MOREPENLAB), the current Graham Number is ₹24.57 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Morepen Laboratories (NSE:MOREPENLAB) Overvalued in 2026?

Based on GuruFocus' analysis, Morepen Laboratories stock appears to be overvalued. The current stock price of ₹53.80 is trading 7.5% above its estimated GF Value™ of ₹50.03. GuruFocus considers Morepen Laboratories to be Fairly Valued.

Key valuation signals for NSE:MOREPENLAB:

  • Graham Number: ₹24.57 (1328% above median its 10-year median of 1.72)
  • GF Value™: ₹50.03 vs. price of ₹53.80 (7.5% above fair value)
  • GF Score™: 75/100 with 9 warning signs

No single metric tells the full story. See the NSE:MOREPENLAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Morepen Laboratories Business Description

Other Exchanges 500288:India
Address Udyog Vihar-III, Sector-20, 2nd Floor, Tower C, DLF Cyber Park, Gurugram, HR, IND, 122016
Morepen Laboratories Ltd is in the business of manufacturing, producing, developing, and marketing various Active Pharmaceutical Ingredients (APIs), branded and generic formulations, and also Home Health products. Some of the products offered by the company include various drug formulations, APIs, digital thermometers, heat belts, pulse oximeters, nutritional tablets, pain sprays, and others. The company operates in a single segment namely, Pharmaceuticals. Geographically, the company derives maximum revenue from India and the rest from the United States of America, and the Rest of the world.
75GF Score

Get the complete analysis for NSE:MOREPENLAB

Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹53.80
Price
₹50.03
GF Value