Ind-Swift Laboratories Ltd.
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ABOUT
AI Sector View
AI GENERATEDHealthcare
This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.
PROS
- Company is almost debt free
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.4%
- Company has a healthy return on capital (ROCE) of 30.9%
- Latest quarter profit grew 181.3% YoY, showing strong momentum
- Company comfortably covers its interest (89.3x coverage)
- Institutional investors have been accumulating - FII+DII up 5.7pp
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 87.6% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (31.6% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.01x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | 1842.00 | 36.54 | 441957.50 | 0.87 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| DIVISLAB | 9326.00 | 84.64 | 247576.00 | 0.32 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| TORNTPHARM | 4975.00 | 86.76 | 189233.01 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| ZYDUSLIFE | 1119.50 | 24.74 | 111670.55 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| CIPLA | 1365.00 | 32.72 | 110272.68 | 0.95 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| LAURUSLABS | 1970.35 | 97.37 | 106460.42 | 0.10 | 362.07 | 123.94 | 2026.31 | 29.10 | 18.20 | 31.50 |
| DRREDDY | 1161.00 | 30.07 | 96906.38 | 0.69 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| AUROPHARMA | 1675.45 | 25.97 | 96401.69 | 0.24 | 1032.03 | 25.22 | 9150.35 | 17.44 | 12.76 | 20.54 |
| LUPIN | 2096.00 | 17.34 | 95842.92 | 0.86 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| MANKIND | 2277.00 | 46.04 | 94050.37 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| GLENMARK | 2416.90 | 37.94 | 68210.88 | 0.10 | 482.83 | 927.88 | 4018.48 | 31.35 | 20.35 | 20.03 |
| INDSWFTLAB | 386.10 | 58.57 | 3357.59 | 0.00 | 24.68 | 181.33 | 191.45 | 25.35 | 24.24 | 17.52 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 310 | 290 | 288 | 529 | 147 | 148 | 129 | 142 | 153 | 153 | 151 | 170 | 191 | |
| 250 | 224 | 236 | 437 | 154 | 145 | 135 | 147 | 149 | 151 | 147 | 149 | 166 | |
| Operating Profit | 60 | 66 | 52 | 91 | -6 | 3 | -7 | -4 | 4 | 1 | 4 | 21 | 25 |
| OPM % | 19.43% | 22.67% | 17.98% | 17.26% | -4.41% | 1.98% | -5.16% | -3.10% | 2.36% | 0.96% | 2.76% | 12.11% | 13.13% |
| 6 | 7 | 7 | 458 | 51 | 17 | 16 | 216 | 15 | 18 | 22 | -3 | 8 | |
| Interest | 20 | 21 | 21 | 3 | 10 | 10 | 10 | -27 | 1 | 2 | 1 | -2 | 1 |
| Depreciation | 14 | 13 | 14 | 20 | 6 | 6 | 6 | 7 | 7 | 7 | 9 | 8 | 8 |
| Profit before Tax | 32 | 39 | 24 | 527 | 29 | 5 | -7 | 230 | 10 | 10 | 16 | 12 | 33 |
| Tax % | 45.01% | 17.87% | 19.31% | 6.29% | -0.10% | 3.83% | 16.41% | 3.55% | 16.52% | 22.24% | 41.92% | -26.34% | 24.46% |
| Net Profit | 0 | 0 | 0 | 0 | 9 | 4 | 0 | 222 | 9 | 8 | 10 | 15 | 25 |
| 2.92 | 5.36 | 3.29 | 83.55 | 4.34 | 0.67 | -0.82 | 33.04 | 1.28 | 1.00 | 1.17 | 1.81 | 2.84 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 653 | 697 | 763 | 757 | 780 | 891 | 1,039 | 1,207 | 1,281 | 562 | 665 | |
| 546 | 591 | 628 | 630 | 636 | 709 | 843 | 978 | 1,027 | 581 | 613 | |
| Operating Profit | 107 | 106 | 134 | 126 | 143 | 183 | 196 | 229 | 254 | -19 | 51 |
| OPM % | 16.42% | 15.19% | 17.59% | 16.67% | 18.40% | 20.51% | 18.83% | 18.98% | 19.85% | -3.45% | 7.73% |
| 1 | 17 | 24 | 120 | 33 | 23 | 43 | 7 | 432 | 305 | 45 | |
| Interest | 106 | 90 | 35 | 92 | 107 | 100 | 96 | 92 | 51 | 3 | 1 |
| Depreciation | 85 | 88 | 87 | 104 | 90 | 87 | 131 | 57 | 53 | 24 | 32 |
| Profit before Tax | -83 | -55 | 36 | 50 | -20 | 18 | 13 | 87 | 582 | 258 | 71 |
| Tax % | 29.10% | 29.24% | 38.93% | 41.73% | -7.17% | 117.48% | 117.15% | 44.72% | 27.56% | 2.82% | 19.63% |
| Net Profit | -59 | -39 | 22 | 29 | -21 | -3 | -2 | 48 | 421 | 251 | 57 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -4.28 | -4.28 | -4.28 | 71.24 | 36.44 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -2%
- 5 Years:
- -6%
- 3 Years:
- -19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 26%
- 5 Years:
- 40%
- 3 Years:
- 64%
- 1 Year:
- 256%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 19%
- 3 Years:
- 31%
- Last Year:
- 25%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 45 | 45 | 48 | 59 | 59 | 59 | 59 | 59 | 69 |
| 476 | 483 | 506 | 540 | 581 | 544 | 541 | 622 | 872 | 1,030 | |
| 1,250 | 998 | 832 | 1,058 | 1,006 | 978 | 912 | 802 | 14 | 39 | |
| Trade Payables | 132 | 102 | 129 | 127 | 135 | 139 | 176 | 204 | 94 | 110 |
| 286 | 403 | 416 | 73 | 10 | 38 | 60 | 107 | 94 | 146 | |
| Total Liabilities | 2,185 | 2,031 | 1,927 | 1,845 | 1,792 | 1,758 | 1,749 | 1,794 | 1,133 | 1,394 |
| 1,099 | 1,033 | 925 | 901 | 843 | 739 | 628 | 585 | 5 | 260 | |
| Capital Work in Progress | 78 | 61 | 62 | 13 | 4 | 11 | 9 | 8 | 0 | 0 |
| 18 | 31 | 31 | 31 | 17 | 36 | 29 | 30 | 111 | 213 | |
| 356 | 344 | 317 | 317 | 343 | 376 | 429 | 439 | 10 | 114 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 169 | 165 | |
| Cash & Bank | 23 | 16 | 9 | 30 | 11 | 12 | 21 | 18 | 432 | 428 |
| 612 | 546 | 583 | 554 | 574 | 586 | 633 | 714 | 406 | 213 | |
| Total Assets | 2,185 | 2,031 | 1,927 | 1,845 | 1,792 | 1,758 | 1,749 | 1,794 | 1,133 | 1,394 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 96 | 73 | -65 | 125 | 135 | 150 | 194 | -163 | -25 | |
| Cash from Investing | -30 | -31 | -17 | -12 | -9 | -10 | 5 | -13 | -104 | -110 |
| Cash from Financing | -48 | -69 | -62 | 100 | -133 | -124 | -141 | -186 | 681 | 69 |
| 2 | -4 | -6 | 23 | -17 | 1 | 14 | -4 | 413 | -66 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-06 - Ind-Swift Laboratories Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-05 - Ind-Swift Laboratories Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026.
2026-09-04 - Ind-Swift Laboratories Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-04 - Outcome of Preferential Issue Committee meeting held on Friday, 4th September, 2026, as per Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-09-02 - Ind-Swift Laboratories Limited has informed the Exchange regarding Outcome of Board Meeting held on September 02, 2026.
2026-08-28 - Significant increase in volume has been observed in Ind-Swift Laboratories Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Ind-Swift Laboratories Limited has submitted their response.
2026-08-27 - Ind-Swift Laboratories Limited has informed the Exchange about Company's Clarification on Spurt in Volume
2026-08-26 - Significant increase in volume has been observed in Ind-Swift Laboratories Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-20 - Ind-Swift Laboratories Limited has informed the Exchange about Transcript of Earning Call held on August 17, 2026
News
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Ind-Swift Laboratories Ltd.
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