Windlas Biotech Ltd

Windlas Biotech Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Windlas Biotech Ltd

₹ 850 1.20%
16 Jul - close price
windlasbiotech.com BSE: 543329 NSE: WINDLAS
About

Windlas Biotech Ltd is a leading domestic pharmaceutical formulations contract development and manufacturing organization (CDMO). The company manufactures both solid and liquid pharmaceutical dosage forms and provides a comprehensive range of CDMO services ranging from product discovery, product development, and commercial manufacturing of generic products, including complex generics.[1]

Key Points

Market Position
Windlas Biotech is amongst the top five players in the domestic pharmaceutical formulations, contract development, and manufacturing organization (CDMO) industry in India, in terms of revenues. The company offers a range of CDMO services from product discovery to product development, licensing, and commercial manufacturing of generic products including complex generics. [1]

Website BSE NSE
  • Market Cap ₹ 1,755 Cr.
  • Current Price ₹ 850
  • High / Low ₹ 1,098 / 697
  • Stock P/E 26.4
  • Book Value ₹ 275
  • Dividend Yield 0.74 %
  • ROCE 15.9 %
  • ROE 12.2 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 19.8%
  • Promoter holding has increased by 1.41% over last quarter.
  • Company's working capital requirements have reduced from 21.4 days to 14.4 days

Cons

  • Company has a low return on equity of 12.8% over last 3 years.

* 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

Part of BSE Healthcare

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
141 145 153 162 171 175 187 195 203 210 222 233 238
124 128 134 142 149 154 164 170 177 184 194 209 213
Operating Profit 16 17 19 20 22 21 23 25 26 27 29 24 25
OPM % 12% 12% 12% 13% 13% 12% 12% 13% 13% 13% 13% 10% 11%
2 3 3 3 4 4 5 4 5 5 4 5 4
Interest 0 0 0 0 0 0 1 1 1 1 1 1 1
Depreciation 4 3 3 3 4 6 6 7 8 7 8 8 8
Profit before tax 15 16 18 20 23 18 20 20 21 23 24 20 20
Tax % 24% 26% 23% 24% 25% 26% 23% 24% 22% 24% 25% 25% 21%
11 12 14 15 17 13 16 15 16 18 18 15 16
EPS in Rs 5.38 5.80 6.75 7.26 8.15 6.45 7.49 7.29 7.77 8.43 8.45 7.09 7.59
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
274 315 320 288 329 428 466 513 631 760 904
253 290 284 244 288 373 413 453 553 666 799
Operating Profit 20 25 36 44 41 55 53 60 78 94 105
OPM % 7% 8% 11% 15% 12% 13% 11% 12% 12% 12% 12%
1 4 5 2 1 -29 7 10 13 18 18
Interest 7 5 5 4 2 1 1 1 1 4 5
Depreciation 9 9 11 8 9 13 12 12 13 28 31
Profit before tax 6 14 25 35 31 11 46 57 77 79 87
Tax % 20% 35% 33% 36% 27% 55% 16% 25% 25% 24% 24%
5 9 17 22 22 5 39 43 58 61 66
EPS in Rs 8.14 16.41 30.24 35.05 35.03 7.81 17.69 20.05 27.95 28.94 31.48
Dividend Payout % 0% 0% 0% 0% 0% 0% 20% 20% 20% 20% 20%
Compounded Sales Growth
10 Years: 13%
5 Years: 16%
3 Years: 21%
TTM: 19%
Compounded Profit Growth
10 Years: 31%
5 Years: 28%
3 Years: 17%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 37%
1 Year: -9%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 13%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 6 6 6 6 6 6 11 10 10 10 11
Reserves 132 141 158 188 210 193 384 392 440 495 570
53 62 43 30 27 32 7 5 4 33 35
90 94 93 73 100 65 89 121 172 222 291
Total Liabilities 281 304 299 297 344 296 491 529 626 760 907
56 56 58 62 68 96 91 109 179 223 213
CWIP 9 15 11 5 0 0 8 15 6 5 60
Investments 95 121 123 121 121 23 65 107 173 223 268
121 111 107 110 154 177 327 298 268 308 366
Total Assets 281 304 299 297 344 296 491 529 626 760 907

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
47 7 39 22 21 11 9 61 109 68 105
-62 -39 -11 -7 -9 -20 -154 -14 -92 -74 -92
38 5 -25 -8 -6 1 130 -44 -15 1 -13
Net Cash Flow 24 -27 4 7 5 -8 -15 3 2 -5 0
Free Cash Flow 35 -8 28 12 11 6 -6 -9 71 16 37
CFO/OP 249% 34% 122% 80% 84% 33% 34% 117% 163% 95% 115%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 74 70 68 79 72 68 87 83 79 80 92
Inventory Days 49 62 44 38 85 55 71 84 57 63 40
Days Payable 137 120 124 117 143 53 76 98 121 138 156
Cash Conversion Cycle -14 13 -12 0 13 70 82 69 15 6 -24
Working Capital Days -46 -37 2 -12 3 40 86 72 32 18 14
ROCE % 10% 13% 18% 14% 19% 15% 14% 18% 17% 16%

Insights

In beta
Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
CDMO Number of Customers Catered
count

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CDMO Number of Products Catered
count
Complex Generic Variations
count
Stockists and Distributors
count
Top 10 Customer Concentration
% of CDMO revenue
Trade Generics Number of Brands
count
Installed Capacity - Tablets & Capsules
Mn units per annum
Capacity Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
62.82% 62.82% 62.82% 62.51% 62.51% 62.51% 62.34% 62.34% 61.98% 61.98% 61.90% 63.31%
0.80% 1.35% 1.18% 1.59% 2.00% 1.55% 1.52% 1.44% 1.11% 0.93% 0.60% 2.04%
11.52% 11.71% 11.82% 10.35% 9.58% 10.26% 10.89% 11.22% 11.44% 11.44% 11.80% 9.84%
24.85% 24.11% 24.19% 25.55% 25.91% 25.67% 25.25% 25.01% 25.48% 25.64% 25.69% 24.80%
No. of Shareholders 68,79861,90051,27745,82445,70646,59046,38345,88745,43345,46144,76944,996

* 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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Documents

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Annual reports

DRHP

Credit ratings

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