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Ind-Swift Lab. Overview

Ind-Swift Laboratories Ltd is an primarily India-based corporation, which is engaged in production of active pharmaceutical components (APIs). The Company operates through the bulk tablets and pharmaceuticals segment. The Company has a product portfolio of approximately 50 products across about 15 therapeutic segments. It manufactures Atorvastatin Calcium Crystalline, Clarithromycin powder/granules, Roxithromycin and Nitazoxanide. It also manufactures Moxifloxacin, Imatinib Mesylate, Nateglinide, and Dutasteride,. The Company gives products for...Read More

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Ind-Swift Lab. Key Financials

Market Cap ₹1214 Cr.

Stock P/E 4.8

P/B 0.9

Current Price ₹139.8

Book Value ₹ 158.8

Face Value 10

52W High ₹156.5

Dividend Yield 0%

52W Low ₹ 67.2

Ind-Swift Lab. Share Price

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Volume
Price

Ind-Swift Lab. Quarterly Price

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Ind-Swift Lab. Peer Comparison

Ind-Swift Lab. Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 290 288 529 147 148 129 138 153 153 151
Other Income 7 7 71 43 17 17 4 15 18 28
Total Income 297 295 600 190 166 145 143 167 171 178
Total Expenditure 224 236 437 153 145 135 147 149 151 147
Operating Profit 73 59 162 37 20 10 -5 18 19 32
Interest 21 21 3 10 10 10 -27 1 2 1
Depreciation 13 14 20 6 6 6 7 7 7 9
Exceptional Income / Expenses 0 0 387 8 0 -1 216 0 0 -6
Profit Before Tax 39 24 527 29 5 -7 230 10 10 16
Provision for Tax 7 5 33 -0 0 -1 8 2 2 7
Profit After Tax 32 20 494 29 5 -6 222 9 8 10
Adjustments -0 -0 -0 -0 0 0 -0 0 -0 0
Profit After Adjustments 32 19 494 29 5 -5 222 9 8 10
Adjusted Earnings Per Share 5.4 3.3 73.5 4.3 0.7 -0.9 32.3 1.3 1 1.2

Ind-Swift Lab. Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 660 653 697 763 757 780 891 1039 1207 1281 562 595
Other Income 22 16 23 26 37 33 23 43 34 45 81 65
Total Income 683 669 720 788 794 813 914 1082 1241 1326 643 659
Total Expenditure 572 546 591 628 630 636 709 843 978 1027 581 594
Operating Profit 111 123 129 160 163 177 206 239 263 300 62 64
Interest 117 106 90 35 92 107 100 96 92 51 3 -23
Depreciation 84 85 88 87 104 90 87 131 57 53 24 30
Exceptional Income / Expenses -53 -15 -5 -2 83 0 0 0 -27 387 223 210
Profit Before Tax -143 -83 -55 36 50 -20 18 13 87 582 258 266
Provision for Tax -24 -24 -16 14 21 1 21 15 39 160 7 19
Profit After Tax -119 -59 -39 22 29 -21 -3 -2 48 421 251 249
Adjustments 0 0 0 0 0 0 0 0 -0 -0 -0 0
Profit After Adjustments -119 -59 -39 22 29 -21 -3 -2 48 421 250 249
Adjusted Earnings Per Share -29.1 -14.3 -8.7 4.9 6.1 -3.6 -0.5 -0.4 8.1 71.2 36.4 35.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -56% -19% -6% -2%
Operating Profit CAGR -79% -36% -19% -6%
PAT CAGR -40% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 94% 30% 12% 13%
ROE Average 25% 31% 19% 3%
ROCE Average 24% 31% 22% 12%

Ind-Swift Lab. Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 595 517 531 553 588 641 604 601 682 931 1173
Minority's Interest 0 0 0 0 0 0 -0 -0 0 -0 -0
Borrowings 816 746 592 520 966 891 884 848 753 11 26
Other Non-Current Liabilities -5 -29 -97 -83 -64 -63 -44 -34 -11 -31 -26
Total Current Liabilities 833 951 1005 936 356 323 315 334 371 221 221
Total Liabilities 2239 2185 2031 1927 1845 1792 1758 1749 1794 1133 1394
Fixed Assets 1117 1099 1033 925 901 843 739 628 585 5 260
Other Non-Current Assets 202 165 170 163 108 86 75 46 45 467 268
Total Current Assets 920 922 829 839 836 863 942 1073 1163 661 865
Total Assets 2239 2185 2031 1927 1845 1792 1758 1749 1794 1133 1394

Ind-Swift Lab. Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 21 20 23 16 9 30 11 12 21 18 494
Cash Flow from Operating Activities 98 79 96 73 -64 125 135 150 195 -163 -25
Cash Flow from Investing Activities -36 -30 -31 -17 -12 -9 -10 5 -13 -104 -110
Cash Flow from Financing Activities -64 -48 -69 -62 100 -133 -124 -141 -186 681 69
Net Cash Inflow / Outflow -1 2 -4 -6 23 -17 1 14 -4 413 -66
Closing Cash & Cash Equivalent 20 22 16 9 30 11 12 26 18 432 427

Ind-Swift Lab. Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -29.14 -14.33 -8.75 4.85 6.09 -3.59 -0.53 -0.36 8.06 71.24 36.44
CEPS(Rs) -8.56 6.36 10.98 23.98 27.96 11.66 14.24 21.81 17.8 80.35 40
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 67.21 56.78 58.08 65.58 73.01 70.21 66.35 68.33 84.25 157.64 159.86
Core EBITDA Margin(%) 13.03 15.94 14.79 17.41 16.6 18.32 20.35 18.66 18.9 19.71 -3.36
EBIT Margin(%) -3.83 3.51 4.88 9.26 18.68 11.09 13.16 10.31 14.74 49.07 45.24
Pre Tax Margin(%) -21.05 -12.3 -7.72 4.67 6.54 -2.52 2.01 1.2 7.14 45.11 44.74
PAT Margin (%) -17.53 -8.72 -5.46 2.85 3.81 -2.71 -0.35 -0.21 3.94 32.68 43.48
Cash Profit Margin (%) -5.15 3.87 6.86 14.1 17.5 8.79 9.37 12.3 8.68 36.81 47.72
ROA(%) -5.22 -2.65 -1.86 1.11 1.53 -1.17 -0.18 -0.12 2.7 28.79 19.83
ROE(%) -36.36 -23.11 -15.89 7.89 8.99 -5.56 -0.78 -0.54 10.61 58.97 24.68
ROCE(%) -1.52 1.4 2.19 4.59 9.25 5.97 8.31 7.88 13.25 55.13 24.24
Receivable days 223.2 206.44 185.94 181.25 182.19 174.12 168.41 154.46 144.51 95.44 105.66
Inventory Days 194.38 190.95 178.26 156.48 152.15 153.65 145.99 140.01 130.51 63.55 39.47
Payable days 155.81 137.79 109.26 107.94 115.52 120.5 110.78 106.89 105.77 82.21 129.43
PER(x) 0 0 0 11.81 6.45 0 0 0 6.86 1.38 2.3
Price/Book(x) 0.47 0.8 0.57 0.87 0.54 0.31 1.09 0.97 0.66 0.62 0.53
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 2.31 2.48 1.97 2.04 1.68 1.47 1.59 1.26 0.96 0.13 0.32
EV/Core EBITDA(x) 13.72 13.16 10.69 9.72 7.8 6.49 6.9 5.49 4.42 0.54 2.94
Net Sales Growth(%) -31.57 -1.09 6.76 9.33 -0.78 3.05 14.33 16.54 16.23 6.1 -56.15
EBIT Growth(%) -2.59 190.68 47.94 104.1 98.86 -38.78 36.08 -8.58 65.33 254.17 -58.8
PAT Growth(%) 2.17 50.83 33.32 156.15 31.72 -173.2 85.15 31.72 2325.72 781.13 -40.56
EPS Growth(%) 2.17 50.83 38.95 155.49 25.37 -158.93 85.15 31.71 2314.85 784.43 -48.86
Debt/Equity(x) 5.12 6.25 4.77 4.38 3.21 2.48 2.56 2.33 1.71 0.01 0.03
Current Ratio(x) 1.1 0.97 0.82 0.9 2.35 2.67 2.99 3.21 3.13 2.99 3.92
Quick Ratio(x) 0.69 0.59 0.48 0.56 1.46 1.61 1.8 1.93 1.95 2.94 3.41
Interest Cover(x) -0.22 0.22 0.39 2.02 1.54 0.81 1.18 1.13 1.94 12.38 89.31
Total Debt/Mcap(x) 10.86 7.79 8.39 5.03 5.97 8.04 2.36 2.4 2.61 0.02 0.06

Ind-Swift Lab. Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 42 42 42 42 42 40.94 40.94 39.5 39.5 42.99
FII 0.31 0.25 1.26 0.65 0.46 3.07 4.27 14.8 14.33 13.88
DII 18.73 8.03 0.94 0.94 0.94 0.91 0.91 0.68 0.68 0
Public 38.95 49.72 55.8 56.41 56.6 55.07 53.87 45.02 45.5 43.12
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Ind-Swift Lab. News

Ind-Swift Lab. Pros & Cons

Pros

  • Stock is trading at 0.9 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31%
  • Company is almost debt free.

Cons

  • Promoter holding is low: 42.99%.
  • Debtor days have increased from 82.21 to 129.43days.
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