Ind-Swift Laboratories Ltd

₹ 110 1.60%

10 Sep - close price

indswiftlabs.com BSE: 532305 NSE: INDSWFTLAB

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.

Website BSE NSE - BE

Market Cap ₹ 810 Cr.
Current Price ₹ 110
High / Low ₹ 149 / 67.2
Stock P/E 37.0
Book Value ₹ 192
Dividend Yield 0.00 %
ROCE 4.11 %
ROE 4.12 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.57 times its book value
Company is expected to give good quarter
Company has delivered good profit growth of 32.3% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -3.22%
The company has delivered a poor sales growth of -6.07% over past five years.
Company has a low return on equity of 9.48% over last 3 years.
Contingent liabilities of Rs.465 Cr.
Earnings include an other income of Rs.264 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	271.52	287.55	302.41	270.30	299.01	270.30	276.28	516.96	30.46	2.71	121.54	144.75	147.99
	218.53	230.70	246.50	206.90	239.20	206.90	222.04	429.77	34.99	14.71	122.46	158.22	144.92
Operating Profit	52.99	56.85	55.91	63.40	59.81	63.40	54.24	87.19	-4.53	-12.00	-0.92	-13.47	3.07
OPM %	19.52%	19.77%	18.49%	23.46%	20.00%	23.46%	19.63%	16.87%	-14.87%	-442.80%	-0.76%	-9.31%	2.07%
	7.39	7.54	8.36	7.40	5.55	7.40	7.11	458.23	11.14	12.95	15.90	220.29	14.58
Interest	23.98	23.98	22.38	21.14	20.38	21.14	21.05	2.95	0.17	0.41	10.03	-26.76	1.15
Depreciation	16.26	16.39	15.42	13.19	13.89	13.19	13.56	19.55	0.25	0.22	5.81	7.44	6.68
Profit before tax	20.14	24.02	26.47	36.47	31.09	36.47	26.74	522.92	6.19	0.32	-0.86	226.14	9.82
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%
	20.14	24.02	29.22	30.10	17.05	30.10	21.65	490.69	6.19	0.32	-0.86	218.09	8.12
EPS in Rs	3.41	4.07	4.95	5.09	2.89	5.09	3.66	83.05	1.05	0.05	-0.15	35.98	1.34
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	941	646	639	694	731	724	752	857	988	1,152	1,673	550	417
	882	557	532	589	604	599	610	676	788	930	1,374	563	440
Operating Profit	59	89	107	105	127	125	142	180	200	222	299	-13	-23
OPM %	6%	14%	17%	15%	17%	17%	19%	21%	20%	19%	18%	-2%	-6%
	-19	-31	1	15	16	130	36	23	34	7	479	304	264
Interest	117	117	106	88	28	92	107	100	96	92	51	3	-15
Depreciation	66	84	85	88	87	104	90	87	131	57	53	24	20
Profit before tax	-143	-143	-83	-56	29	59	-20	16	8	79	577	264	235
Tax %	-14%	-17%	-29%	-29%	38%	35%	6%	127%	171%	46%	28%	3%
	-123	-119	-59	-40	18	39	-21	-4	-6	42	418	256	226
EPS in Rs	-29.96	-29.09	-14.37	-8.88	3.89	8.11	-3.52	-0.74	-0.97	7.19	70.81	42.25	37.22
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:	-62%

Compounded Profit Growth
10 Years:	10%
5 Years:	32%
3 Years:	165%
TTM:	-89%

Stock Price CAGR
10 Years:	15%
5 Years:	26%
3 Years:	23%
1 Year:	-25%

Return on Equity
10 Years:	2%
5 Years:	6%
3 Years:	9%
Last Year:	4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	41	42	42	45	46	48	60	60	60	60	59	69
Reserves	682	551	473	480	497	542	585	579	573	616	863	1,095
	1,355	1,413	1,457	1,242	1,083	1,148	1,031	996	944	854	8	37
	252	233	238	353	371	174	184	182	226	259	174	221
Total Liabilities	2,330	2,238	2,210	2,121	1,997	1,913	1,860	1,817	1,803	1,788	1,105	1,422
	1,173	1,114	1,095	1,042	934	913	843	752	630	587	8	273
CWIP	78	115	82	70	69	20	11	19	10	8	0	0
Investments	27	26	26	26	26	26	26	55	111	85	166	269
	1,052	983	1,007	982	968	953	979	991	1,052	1,108	931	880
Total Assets	2,330	2,238	2,210	2,121	1,997	1,913	1,860	1,817	1,803	1,788	1,105	1,422

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	100	80	93	71	-75	123	135	136	183	-180	-39
	-37	-30	-31	-17	-2	-10	-10	3	-14	-104	-110
	-64	-48	-69	-62	100	-133	-124	-140	-168	700	74
Net Cash Flow	-0	3	-7	-8	23	-20	1	-1	1	416	-75

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	166	212	205	179	191	168	187	171	158	149	23	106
Inventory Days	187	319	377	317	305	302	330	304	303	253	0	137
Days Payable	102	119	137	88	112	110	122	106	120	114		141
Cash Conversion Cycle	250	412	445	409	384	359	395	368	342	287	23	102
Working Capital Days	128	32	-35	-106	-59	225	256	243	249	226	-13	109
ROCE %	0%	1%	2%	2%	3%	4%	5%	7%	7%	13%	25%	4%

Shareholding Pattern

Numbers in percentages

3 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Aug 2025
	42.01%	42.01%	42.01%	42.01%	42.01%	42.01%	42.01%	42.01%	42.01%	40.94%	40.94%	39.49%
	0.04%	0.00%	0.08%	0.17%	0.31%	0.26%	1.27%	0.65%	0.46%	3.07%	4.27%	14.90%
	19.49%	19.49%	19.49%	19.49%	18.73%	8.03%	0.94%	0.94%	0.94%	0.91%	0.91%	0.68%
	38.48%	38.52%	38.44%	38.34%	38.96%	49.72%	55.81%	56.41%	56.61%	55.08%	53.88%	44.91%
No. of Shareholders	24,456	23,397	22,962	25,405	24,633	22,439	25,461	28,883	28,752	28,117	28,709	43,984

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Aug 2025
	55.46%	54.80%	52.16%	42.00%	42.00%	42.00%	42.01%	42.01%	40.94%	39.49%
	2.27%	0.77%	0.60%	0.28%	0.17%	0.06%	0.00%	0.26%	3.07%	14.90%
	0.00%	0.00%	3.78%	19.50%	19.49%	19.49%	19.49%	8.03%	0.91%	0.68%
	0.00%	0.00%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	42.26%	44.43%	43.13%	38.23%	38.34%	38.44%	38.52%	49.72%	55.08%	44.91%
No. of Shareholders	18,970	15,511	14,652	14,578	15,859	25,342	23,397	22,439	28,117	43,984

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Ind-Swift Laboratories Ltd

Ind-Swift Laboratories Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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