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Ind-Swift Laboratories Ltd

₹ 101-0.42%
14 Jan – close price
🔗indswiftlabs.com•BSE: 532305•NSE: INDSWFTLAB
Market Cap₹ 822 Cr.
Current Price₹ 101
High / Low₹ 124
Stock P/E27.1
Book Value₹ 159
Dividend Yield0.00 %
ROCE1.37 %
ROE0.82 %
Face Value₹ 10.0
Sales₹ 565 Cr.
OPM-1.62 %
Mar Cap₹ 822 Cr.

ABOUT

Incorporated in 1995, Ind-Swift Laboratories Ltd is in the business of Bulk Drugs & Pharmaceuticals[1]

KEY POINTS

Business Overview:[1]ISLL is a global manufacture of APIs, Intermediates and formulation (through group collaboration). It caters to the API needs of regulated markets including USFDA, EDQM, PMDA, ANVISA, EU-GMP, KFDA, NMO, ANSM, Cofepris, TGA, WHO, ROW. ISLL is present in all stages of drug substance/product including new chemical/molecular research to formulation development.Company manufactures APIs towards Cardiovascular health, Antihistamine, Antidiabetic, Antipsychotic, Antimigraine, Parkinson’s Disease, Antineoplastic, ADHD Symptoms, Analgesics, Alcohol Abstinence and Bone Resorption Inhibitor. It also holds global leadership positions in the Macrolide Antibiotic segment.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsPreferential IssuanceLarge Order ReceiptsJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Sun Pharma.Inds.1700.7035.35408054.900.943124.952.5614478.318.9320.2154964.0130.1211543.963117.955.2412.970.07
2.Divi's Lab.6355.5067.89168718.560.47689.0035.102715.0016.1220.4410029.0032.372485.00689.0010.9513.530.01
3.Torrent Pharma.4003.7062.54135503.400.80591.0032.493302.0014.3027.0512248.0032.602166.53600.1716.0413.260.33
4.Cipla1434.5021.30115874.780.911353.373.737589.447.6422.7228349.5725.405441.141351.173.5214.720.01
5.Lupin2195.9023.19100308.450.551484.8373.347047.5124.2321.3024750.6927.254324.631477.925.1112.410.32
6.Dr Reddy's Labs1186.5017.1699028.890.671336.807.288828.309.8322.6934310.0024.645772.201347.102.7512.950.16
7.Mankind Pharma2244.4052.9992649.970.04520.18-22.003697.1620.7715.9813545.6724.121748.55511.516.068.890.55
8.Ind-Swift Labs.100.7227.13821.990.008.762637.50150.445451.291.37564.72-1.6230.308.760.630.570.02
–Median: 149 Co.394.529.561738.640.1213.4911.71161.7610.5814.89591.7315.9345.2613.963.148.560.22

Quarterly Results

Standalone figures in ₹ crores

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
271.52287.55302.41270.30299.01270.30276.28516.9630.462.71121.54144.75147.99150.44
Expenses
218.53230.70246.50206.90239.20206.90222.04429.7734.9914.71122.46158.22144.92148.26
Operating Profit
52.9956.8555.9163.4059.8163.4054.2487.19-4.53-12.00-0.92-13.473.072.18
Other Income
7.397.548.367.405.557.407.11458.2311.1412.9515.90220.2914.5817.86
Profit before tax
20.1424.0226.4736.4731.0936.4726.74522.926.190.32-0.86226.149.8211.05
Tax %
0.00%-0.00%-10.43%17.49%45.19%17.49%19.04%6.17%-0.00%-0.00%-0.00%3.56%17.41%20.81%
Net Profit
20.1424.0229.2230.1017.0530.1021.65490.696.190.32-0.86218.098.128.76
EPS in Rs
3.414.074.955.092.895.093.6683.051.050.05-0.1535.981.341.07

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
9416466396947317247528579881,1521,673550565
Expenses
8825575325896045996106767889301,371563574
Operating Profit
5989107105127125142180200222302-13-9
Other Income
-19-31115161303623347476304269
Interest
11711710688289210710096921043-14
Depreciation
6684858887104908713157802427
Profit before tax
-143-143-83-562959-2016879594264246
Net Profit
-123-119-59-401839-21-4-642536256234
EPS in Rs
-29.96-29.09-14.37-8.883.898.11-3.52-0.74-0.977.1990.7442.2538.24
Dividend Payout %
0%0%0%0%0%0%0%0%0%0%0%0%–

Compounded Sales Growth

10 Years:-2%
5 Years:-6%
3 Years:-18%
TTM:-32%

Compounded Profit Growth

10 Years:8%
5 Years:19%
3 Years:72%
TTM:-82%

Stock Price CAGR

10 Years:10%
5 Years:6%
3 Years:16%
1 Year:-4%

Return on Equity

10 Years:1%
5 Years:6%
3 Years:9%
Last Year:1%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
41424245464860606060676982
Reserves
6825514734804975425855795736167311,0951,217
Borrowings
1,3551,4131,4571,2421,0831,1481,0319969448542143722
Other Liabilities
252233238353371174184182226259396221210
Total Liabilities
2,3302,2382,2102,1211,9971,9131,8601,8171,8031,7881,4081,4221,530
Fixed Assets
1,1731,1141,0951,042934913843752630587192273285
Gross Block
1,404.041,401.781,417.231,418.151,360.581,393.321,355.931,316.031,318.521,333.47562.88654.54–
Accumulated Depreciation
231.51287.40321.78375.94426.56479.86513.00563.62689.03746.04371.21381.57–
CWIP
7811582706920111910851-0-0
Investments
272626262626265511185167269368
Other Assets
1,0529831,0079829689539799911,0521,108998880877
Total Assets
2,3302,2382,2102,1211,9971,9131,8601,8171,8031,7881,4081,4221,530

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-0100809371-75123135136183-166-39
Cash from Investing Activity
-0-37-30-31-17-2-10-103-14-28-110
Cash from Financing Activity
-0-64-48-69-62100-133-124-140-16865874
Net Cash Flow
-0-03-7-823-201-11464-75

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
16621220517919116818717115814956106
Inventory Days
18731937731730530233030430325328137
Days Payable
10211913788112110122106120114114141
Cash Conversion Cycle
250412445409384359395368342287-30102
Working Capital Days
12832-35-106-59225256243249226-783
ROCE %
0%1%2%2%3%4%5%7%7%13%21%1%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
42.01%42.01%42.01%42.01%42.01%42.01%42.01%42.01%42.01%40.94%40.94%39.49%
FIIs
0.04%0.00%0.08%0.17%0.31%0.26%1.27%0.65%0.46%3.07%4.27%14.80%
DIIs
19.49%19.49%19.49%19.49%18.73%8.03%0.94%0.94%0.94%0.91%0.91%0.68%
Public
38.48%38.52%38.44%38.34%38.96%49.72%55.81%56.41%56.61%55.08%53.88%45.02%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Ind-Swift Labs Clarifies Volume Spurt; Links to Arbitration Award with NIL Impact

9th April 2026, 9:17 pm

Ind-Swift Laboratories Wins Arbitration Case Against PI Industries with NIL Financial Impact

7th April 2026, 10:55 pm

Ind-Swift Laboratories Invites Shareholders to Dematerialise Physical Shares via Special Window

6th April 2026, 8:21 pm

Ind-Swift Labs Files SEBI Compliance Certificate for Quarter Ended March 2026

3rd April 2026, 8:55 pm

Ind-Swift Labs Approves Allotment of 1.25 Lakh Equity Shares Under ESOP 2014

31st March 2026, 11:56 pm

Published by Other Websites

External media mentions & references

Dozens of Indian Stocks Move: HAL, Tata Motors, Cipla Lead Corporate Action

4th March 2026, 8:05 am

75+ Firms Post Q3 Earnings: IDFC First Bank, GAIL, Sun Pharma Results Due Today

31st January 2026, 8:17 am

Pharma & Healthcare Surge: Zydus FDA Update, Ind-Swift Europe Deal, New Hospitals & Acquisitions Spark Investor Excitement!

16th December 2025, 8:10 am

Ind-Swift Labs Promoter Boosts Stake to 43.06% Via ₹617 Cr Warrant Conversion
Ind-Swift Labs Becomes Debt-Free, Targets Doubled Revenue by FY29

News Articles

Editorial & research coverage

Pharma & Healthcare Surge: Zydus FDA Update, Ind-Swift Europe Deal, New Hospitals & Acquisitions Spark Investor Excitement!
Pharma & Healthcare Surge: Zydus FDA Update, Ind-Swift Europe Deal, New Hospitals & Acquisitions Spark Investor Excitement!

16th December 2025, 8:10 am

Ind-Swift Labs Becomes Debt-Free, Targets Doubled Revenue by FY29
Ind-Swift Labs Becomes Debt-Free, Targets Doubled Revenue by FY29

Documents

Announcements

Announcement under Regulation 30 (LODR)-Investor Presentation
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading Window
Disclosure Under Regulation 10(6)- Report To Stock Exchanges In Respect Of Acquisition Made In Reliance Upon Exemption Provided For In Regulation 10 Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011 For Inter-Se Transfer Of Shares Between The Promoters Of The Company

18 Dec - Transmission of 232,057 Ind-Swift shares to legal heirs; promoters' aggregate holding unchanged.

Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011

18 Dec - Transmission of 232,057 Ind-Swift shares to legal heirs on 17 Dec 2025; promoter holding unchanged.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from nse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

29 Mar 2024 from care

Rating update

7 Dec 2023 from care

Rating update

15 Sep 2023 from care

Rating update

8 Nov 2022 from care

Rating update

23 Dec 2021 from care

Rating update

10 Aug 2021 from care

Concalls

Jan 2026

PPT

Nov 2020

PPT

Jul 2020

PPT

Stock Analysis

Description

Ind-Swift Laboratories Ltd. is an Indian pharmaceutical company primarily engaged in the manufacturing of finished dosage formulations. The company has undergone a significant transformation, divesting its API and CRAMS business to focus on higher-margin formulation sales, exports, and contract manufacturing.

Key Growth Triggers

  • Export Acceleration: Scaling the Global Business Unit (GBU) with a presence in over 85 countries, driven by CMO contracts and own-brand sales in regulated and emerging markets.
  • CDMO Visibility & Viatris Partnership: Strengthening contract development and manufacturing capabilities, with significant revenue expected from commercial supplies to Viatris starting FY27.
  • High-Margin Therapy Focus: Pivoting towards chronic ethical therapies that offer higher gross margins (70-80%), leveraging an extensive domestic distribution network.
  • R&D and IP Creation: Active formulation pipeline targeting high-growth therapeutic areas, aiming for 400+ new registrations by FY27, including complex generics.
  • Market Expansion: Targeting own-brand footprint expansion in UAE and Central Asia, alongside future regulatory targets in Saudi FDA and Taiwan FDA.

Order Book

Currently no data available for Order Book.

Key Red Flags

  • Past Monitoring Agency reports indicated deviations in fund utilization from a previous preferential issue, raising concerns about transparency in capital allocation. The current presentation focuses on the strategic reset and debt-free status, aiming to move past these issues.

Key Dates To Watch

  • FY27: Commencement of commercial supplies under the Viatris partnership.
  • 2025: Scheduled inspections for Saudi FDA and Taiwan FDA, potentially opening new markets.

Corporate Announcements

9th Apr 26
Impact Rating: 7
Ind-Swift Laboratories informed exchanges it doesn't know the reason for the recent share volume spike, attributing it to market conditions. They mentioned a concluded arbitration with PI Industries, with an award having zero financial impact.
7th Apr 26
Impact Rating: 6
On April 7, 2026, Ind-Swift Laboratories' arbitration with PI Industries concluded as the Arbitral Tribunal rejected all claims and counterclaims. The company confirmed this outcome has NIL financial impact.
6th Apr 26
Impact Rating: -
No description available.
3rd Apr 26
Impact Rating: 3
Ind-Swift Laboratories Limited submitted its SEBI compliance certificate for the quarter ended March 31, 2026. The filing from its Registrar confirms the dematerialization, mutilation, and cancellation of physical share certificates.
31st Mar 26
Impact Rating: 7
Ind-Swift Laboratories announced the approval to allot 1,25,000 equity shares under the ESOP 2014 scheme, bringing the total paid-up equity share capital to ₹86.84 crore.