Overview

Detailed Summary

Ind-Swift Laboratories Ltd is a pharmaceutical manufacturer repositioned as a pure‑play Finished Dosage Formulations (FDF) company focused on exports, contract manufacturing (CDMO/CMO) and domestic branded/ethical therapies, operating two accredited manufacturing sites (Derabassi EOU and Samba) and an R&D centre supporting regulated‑market dossiers and tech transfers.
The company completed a strategic reset by divesting its capital‑intensive API & CRAMS business for ₹1,650 Cr, repaying all external debt and emerging as a net‑debt‑free formulations platform with a retained 7.8% stake in the buyer, materially improving balance sheet flexibility for growth investments.
Commercialisation with Viatris and other long‑term CMO partners is a key growth catalyst: Ind‑Swift expects commercial supplies to Viatris to begin FY27 and to contribute roughly ₹200–220 Cr incremental revenue, materially accelerating the Global Business Unit and CDMO revenue trajectory.
Ind‑Swift has a deep dossier and approvals footprint—1,915+ dossiers filed and 520+ global approvals—combined with Derabassi capacity capable of supporting >₹10 billion revenue, giving the company visibility to scale exports, launch 400+ new registrations by 2026, and pursue regulated‑market launches and out‑licensing opportunities.
Near‑term financial momentum shows stable quarterly revenues (~₹177 Cr Q3 FY26 total revenue) with improving operating EBITDA margins (5.95% Q3 FY26) and sequential PAT growth of 22.6% quarter‑on‑quarter, reflecting cost efficiencies and non‑operating income variability amid the post‑transformation phase.

Sector: Pharmaceuticals & Biotechnology
Industry: Pharmaceuticals
Market Cap: 2,044 Cr
Volatility: Moderate Risk
P/E Ratio: 49.4
Industry P/E: 36.3
PEG Ratio: -0.5
P/B Ratio: 1.5
52W High: 247.80
52W Low: 87.00

Sales CAGR

1Y: -56.15%
3Y: -17.76%
5Y: -6.07%
10Y: -1.99%

Profit CAGR

1Y: -40.56%
3Y: —
5Y: —
10Y: —

ROE

TTM: 3.57%
3Y: 25.81%
5Y: 17.89%
10Y: 9.47%

ROCE

TTM: 4.36%
3Y: 29.67%
5Y: 19.72%
10Y: 12.51%

Technicals

‌

Forecasts

Peers

Healthcare Healthcare Pharmaceuticals

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VENUSREM		1710.00	2,278 Cr	22.15	3.43	0.59	15.49	19.85	12.04
BETA		2190.30	2,025 Cr	48.82	8.27	0.00	16.95	17.46	8.37
NGLFINE		3188.90	1,988 Cr	41.38	6.04	0.05	14.62	15.37	8.81
INDSWFTLAB		235.70	1,950 Cr	47.09	1.41	0.00	3.57	4.36	2.47
HESTERBIO		2094.85	1,782 Cr	32.02	4.95	0.53	15.45	14.34	8.48
SAKAR		800.35	1,780 Cr	58.41	5.49	0.00	9.40	12.54	6.34
WINDLAS		825.15	1,701 Cr	25.59	2.93	0.76	11.44	14.90	7.32
Median: 7 Co.	—	1710.00	1,950 Cr	41.38	4.95	0.05	14.62	14.90	8.37

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	288	393	33	12	8.66	138	153	153	151	170
Expenses	236	317	43	24	23	147	149	151	147	149
Operating Profit	52	77	-9.74	-12	-15	-9.19	3.60	1.47	4.18	21
OPM %	17.98	19.45	-29.36	-98.58	-167.78	-6.65	2.36	0.96	2.77	12.12
Other Income	7.11	412	11	13	14	220	15	18	22	-2.93
Interest	21	-11	0.17	0.41	0.11	-27	1.15	2.01	0.67	-2.43
Depreciation	14	13	0.25	0.22	0.25	7.44	6.68	6.98	8.84	8.12
Profit Before Tax	24	487	0.98	0.58	-1.08	230	10	10	16	12
Tax %	19.31	27.60	-3.06	31.03	100.00	3.55	16.52	22.24	41.92	-26.34
Net Profit	20	353	1.01	0.40	-0.01	222	8.65	8.04	9.52	15
EPS in Rs	2.24	40.61	0.11	0.05	0.00	21.00	0.82	0.90	1.06	1.76

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	716	765	757	780	891	1,039	1,207	1,281	562	312
Expenses	610	631	631	635	709	843	978	1,027	581	344
Operating Profit	106	134	126	144	183	196	229	254	-19	-32
OPM %	14.79	17.55	16.66	18.52	20.51	18.83	18.98	19.85	-3.45	-10.24
Other Income	15	16	120	33	23	43	6.85	432	305	262
Interest	88	28	92	107	100	96	92	51	2.92	-25
Depreciation	88	87	104	90	87	131	57	53	24	15
Profit Before Tax	-55	36	50	-20	18	13	87	582	258	240
Tax %	29.24	38.93	41.73	-7.17	117.48	117.15	44.72	27.56	2.82	3.75
Net Profit	-39	22	29	-21	-3.15	-2.15	48	421	251	231
EPS in Rs	—	—	4.89	-2.86	-0.36	-0.25	5.48	48.48	21.15	4.54
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	42	45	46	48	60	60	60	60	59	69
Reserves	476	486	507	540	581	544	541	622	872	1,104
Borrowings	1,250	998	832	1,148	1,031	1,005	953	862	17	41
Other Liabilities	447	608	638	188	198	210	247	280	217	224
Total Liabilities	2,215	2,138	2,023	1,924	1,870	1,818	1,801	1,824	1,165	1,438
Fixed Assets	1,099	1,029	922	901	828	739	628	585	5.36	271
CWIP	78	70	69	20	11	19	10	7.71	0.00	0.00
Investments	18	31	31	31	33	50	32	33	113	216
Other Assets	1,020	1,007	1,002	972	998	1,011	1,131	1,199	1,047	952
Total Assets	2,215	2,138	2,023	1,924	1,870	1,818	1,801	1,824	1,165	1,438

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	79	96	73	-64	125	135	150	195	-163	-25
Cash from Investing Activity	-30	-31	-17	-12	-9.10	-10	4.77	-13	-104	-110
Cash from Financing Activity	-48	-69	-62	100	-133	-124	-141	-186	699	69
Net Cash Flow	1.94	-4.27	-6.30	23	-17	1.03	14	-4.41	431	-66

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2024	Aug 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Jul 2025	Aug 2025	Sep 2025	Dec 2025	Feb 2026	Mar 2026
Promoters	42.00%	42.00%	42.00%	42.00%	40.94%	40.94%	36.77%	37.72%	39.50%	39.50%	43.06%	42.99%
FIIs	1.26%	0.85%	0.65%	0.46%	3.00%	4.27%	16.99%	16.68%	14.80%	14.33%	13.80%	13.88%
DIIs	0.94%	0.94%	0.94%	0.94%	0.91%	0.91%	0.77%	0.75%	0.68%	0.68%	0.16%	0.00%
Public	55.80%	56.21%	56.41%	56.60%	55.14%	53.87%	45.47%	44.84%	45.02%	45.50%	42.98%	43.12%
Total Shareholders	25,461	29,536	28,883	28,752	28,190	28,709	28,907	28,892	43,780	42,121	40,404	39,222

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Frequently Asked Questions about Ind-Swift Laboratories Ltd

Ind-Swift Laboratories Ltd (INDSWFTLAB) is currently trading at 246.40 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Ind-Swift Laboratories Ltd is a pharmaceutical manufacturer repositioned as a pure‑play Finished Dosage Formulations (FDF) company focused on exports, contract manufacturing (CDMO/CMO) and domestic branded/ethical therapies, operating two accredited manufacturing sites (Derabassi EOU and Samba) and an R&D centre supporting regulated‑market dossiers and tech transfers. The company completed a strategic reset by divesting its capital‑intensive API & CRAMS business for ₹1,650 Cr, repaying all external debt and emerging as a net‑debt‑free formulations platform with a retained 7.8% stake in the buyer, materially improving balance sheet flexibility for growth investments. Commercialisation with Viatris and other long‑term CMO partners is a key growth catalyst: Ind‑Swift expects commercial supplies to Viatris to begin FY27 and to contribute roughly ₹200–220 Cr incremental revenue, materially accelerating the Global Business Unit and CDMO revenue trajectory. Ind‑Swift has a deep dossier and approvals footprint—1,915+ dossiers filed and 520+ global approvals—combined with Derabassi capacity capable of supporting >₹10 billion revenue, giving the company visibility to scale exports, launch 400+ new registrations by 2026, and pursue regulated‑market launches and out‑licensing opportunities. Near‑term financial momentum shows stable quarterly revenues (~₹177 Cr Q3 FY26 total revenue) with improving operating EBITDA margins (5.95% Q3 FY26) and sequential PAT growth of 22.6% quarter‑on‑quarter, reflecting cost efficiencies and non‑operating income variability amid the post‑transformation phase.

Over the past 52 weeks, Ind-Swift Laboratories Ltd has traded between a low of ₹87.00 and a high of ₹247.80. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Ind-Swift Laboratories Ltd has a market capitalization of approximately 2,044.47. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Ind-Swift Laboratories Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 49.37 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 2,044.47 Cr, Ind-Swift Laboratories Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Ind-Swift Laboratories Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Ind-Swift Laboratories Ltd is 49.37. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

The report headline said HCP Investments sold a 7.45% stake over three days, while the same update also mentioned a 0.8% stake sale in Ind-Swift Laboratories.

Ind Swift Laboratories Ltd

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