Ind-Swift Laboratories Ltd
Incorporated in 1995, Ind-Swift Laboratories Ltd is in the business of Bulk Drugs & Pharmaceuticals[1]
- Market Cap ₹ 747 Cr.
- Current Price ₹ 91.5
- High / Low ₹ 124 / 67.2
- Stock P/E 25.2
- Book Value ₹ 160
- Dividend Yield 0.00 %
- ROCE 0.78 %
- ROE 0.18 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.57 times its book value
- Promoter holding has increased by 0.93% over last quarter.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -6.35% over past five years.
- Company has a low return on equity of 8.93% over last 3 years.
- Earnings include an other income of Rs.269 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 965 | 660 | 653 | 716 | 765 | 757 | 780 | 891 | 1,039 | 1,207 | 1,709 | 562 | 568 | |
| 906 | 571 | 546 | 610 | 631 | 630 | 635 | 709 | 837 | 978 | 1,403 | 581 | 579 | |
| Operating Profit | 59 | 89 | 107 | 106 | 134 | 126 | 144 | 183 | 202 | 229 | 306 | -19 | -11 |
| OPM % | 6% | 13% | 16% | 15% | 18% | 17% | 19% | 21% | 19% | 19% | 18% | -3% | -2% |
| -19 | -31 | 1 | 15 | 16 | 120 | 33 | 23 | 37 | 7 | 476 | 305 | 269 | |
| Interest | 117 | 117 | 106 | 88 | 28 | 92 | 107 | 100 | 96 | 92 | 104 | 3 | -14 |
| Depreciation | 66 | 84 | 85 | 88 | 87 | 104 | 90 | 87 | 131 | 57 | 80 | 24 | 27 |
| Profit before tax | -142 | -143 | -83 | -55 | 36 | 50 | -20 | 18 | 13 | 87 | 598 | 258 | 245 |
| Tax % | -14% | -17% | -29% | -29% | 39% | 42% | 7% | 117% | 117% | 45% | 10% | 3% | |
| -122 | -119 | -59 | -39 | 22 | 29 | -21 | -3 | -2 | 48 | 539 | 250 | 234 | |
| EPS in Rs | -29.79 | -29.14 | -14.33 | -8.75 | 4.85 | 6.09 | -3.59 | -0.53 | -0.36 | 8.06 | 91.18 | 41.32 | 38.17 |
| 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: | -19% |
| TTM: | -34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 16% |
| 3 Years: | 11% |
| TTM: | -81% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 8% |
| 3 Years: | 9% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 6% |
| 3 Years: | 9% |
| Last Year: | 0% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 42 | 42 | 45 | 46 | 48 | 60 | 60 | 60 | 60 | 67 | 69 | 82 |
| Reserves | 684 | 553 | 476 | 486 | 507 | 540 | 581 | 544 | 541 | 622 | 745 | 1,104 | 1,226 |
| 1,355 | 1,413 | 1,457 | 1,242 | 1,083 | 1,148 | 1,031 | 1,005 | 953 | 862 | 217 | 41 | 22 | |
| 258 | 236 | 240 | 364 | 387 | 188 | 198 | 210 | 247 | 280 | 432 | 224 | 215 | |
| Total Liabilities | 2,339 | 2,244 | 2,215 | 2,138 | 2,023 | 1,924 | 1,870 | 1,818 | 1,801 | 1,824 | 1,460 | 1,438 | 1,544 |
| 1,174 | 1,117 | 1,099 | 1,042 | 934 | 914 | 843 | 753 | 630 | 587 | 192 | 273 | 285 | |
| CWIP | 78 | 113 | 78 | 70 | 69 | 20 | 11 | 19 | 10 | 8 | 51 | 0 | 0 |
| Investments | 17 | 18 | 18 | 18 | 18 | 19 | 17 | 36 | 29 | 30 | 112 | 213 | 312 |
| 1,070 | 997 | 1,020 | 1,007 | 1,002 | 972 | 998 | 1,011 | 1,131 | 1,199 | 1,106 | 952 | 947 | |
| Total Assets | 2,339 | 2,244 | 2,215 | 2,138 | 2,023 | 1,924 | 1,870 | 1,818 | 1,801 | 1,824 | 1,460 | 1,438 | 1,544 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 98 | 79 | 96 | 73 | -64 | 125 | 135 | 150 | 195 | -187 | -25 | |
| 0 | -35 | -29 | -31 | -17 | -12 | -9 | -10 | 5 | -13 | -28 | -110 | |
| 0 | -64 | -48 | -69 | -62 | 100 | -133 | -124 | -141 | -186 | 657 | 69 | |
| Net Cash Flow | 0 | -1 | 3 | -4 | -6 | 23 | -17 | 1 | 14 | -4 | 443 | -66 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 168 | 215 | 208 | 182 | 194 | 169 | 186 | 177 | 160 | 153 | 67 | 107 |
| Inventory Days | 182 | 312 | 368 | 305 | 291 | 284 | 315 | 301 | 288 | 242 | 31 | 145 |
| Days Payable | 103 | 120 | 137 | 91 | 118 | 114 | 124 | 111 | 118 | 113 | 122 | 140 |
| Cash Conversion Cycle | 247 | 407 | 439 | 396 | 367 | 339 | 377 | 367 | 330 | 282 | -24 | 112 |
| Working Capital Days | 129 | 141 | -26 | -97 | -49 | 217 | 248 | 253 | 253 | 234 | 7 | 115 |
| ROCE % | 0% | 1% | 2% | 2% | 4% | 4% | 5% | 7% | 7% | 13% | 21% | 1% |
Documents
Announcements
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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.
-
Receipt Of Good Manufacturing Practice (GMP) Certificate From National Center For Public Health And Pharmacy (NNGYK-Hungary).
15 Dec - Received EU-GMP (NNGYK-Hungary) certificate after Nov 2025 inspection; valid three years; opens European markets.
-
Announcement under Regulation 30 (LODR)-Change in Management
8 Dec - Ind‑Swift appoints Dinesh Kashikar (VP‑Site Quality Head) and Vinayak N. Malik (Sr GM QC), effective Dec 08, 2025.
-
Intimation Of Trading Approval Obtained From Stock Exchanges For 81,24,698 Equity Shares Of ?10/- Each Issued Pursuant To The Approved Scheme Of Amalgamation
5 Dec - Listing and trading approval for 8,124,698 equity shares (₹10) post-amalgamation, effective Dec 5, 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from bse
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.