Viyash Scientific Ltd.

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viyash.comBSE: 512529NSE: VIYASH

Market Cap₹ 11,675 Cr.

Current Price

High / Low₹ 298 / 177

Stock P/E195.5

Book Value₹ 69

Price to Book2.67

Dividend Yield0.00 %

ROCE4.2 %

ROE2.6 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

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.

Confidence

50%

View full sector analysis →

PROS

Company is almost debt free
Promoters have been increasing their shareholding - up 8.5pp over 2 years
Latest quarter profit grew 520.8% YoY, showing strong momentum
Company has delivered good sales growth of 39.1% CAGR over last 5 years
Operating margins have improved to 17.0% from 0.8%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.08x)

CONS

A large part of profit comes from other income (57.0% of PBT)
Company has a low return on capital employed of 2.7%
Company has a low return on equity of 1.9% over last 3 years
Receivables are growing faster than sales - a possible quality concern
Equity base is being diluted - shares outstanding up 75.1%
Valuation is stretched - P/E of 195.5 is well above its own 5-year median (105.5)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SUNPHARMA	1899.00	37.67	455633.71	0.84	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9100.00	82.59	241576.41	0.33	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4850.00	84.58	184478.41	0.78	566.00	3.28	4921.00	57.32	19.27	33.81
4.	CIPLA	1385.00	33.19	111888.39	0.94	785.55	-39.18	7119.28	4.13	16.00	16.73
5.	ZYDUSLIFE	1121.00	24.78	111820.18	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
6.	LAURUSLABS	1840.00	90.93	99417.45	0.11	3620.70	2139.42	20263.10	1191.00	18.20	31.50
7.	LUPIN	2111.00	17.46	96528.82	0.85	1416.98	16.01	8276.89	34.28	28.86	29.59
8.	DRREDDY	1154.00	29.89	96322.06	0.69	435.60	-69.10	8099.80	-5.21	13.75	10.63
9.	MANKIND	2328.55	47.09	96179.61	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
10.	AUROPHARMA	1653.30	25.62	95127.23	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
11.	GLENMARK	2427.00	38.10	68495.93	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	VIYASH	265.40	68.21	11675.15	0.00	792.90	4412.81	9463.60	2043.90	13.10	18.85

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	40	49	42	37	58	42	338	344	41	34	342	372	3,537
	49	57	46	43	60	44	280	284	43	37	271	310	3,404
Operating Profit	-9	-8	-4	-6	-2	-2	58	61	-2	-3	70	63	133
OPM %	-22.44%	-15.70%	-9.83%	-15.61%	-3.43%	-5.00%	17.24%	17.66%	-4.97%	-7.76%	20.59%	16.83%	3.76%
	3	10	13	13	11	12	13	-55	10	10	-25	20	146
Interest	1	1	1	1	1	1	6	6	1	1	4	3	14
Depreciation	2	2	2	2	2	2	32	30	2	2	31	31	324
Profit before Tax	-9	-1	6	4	6	6	34	-30	5	4	11	49	279
Tax %	24.70%	34.29%	24.79%	8.29%	25.62%	33.54%	-51.99%	35.86%	29.50%	29.03%	100.75%	26.54%	24.99%
Net Profit	-7	-1	5	4	4	4	51	-19	3	3	-0	36	209
	-0.27	-0.04	0.18	0.15	0.18	0.17	1.20	-0.45	0.14	0.10	0.00	0.82	0.48

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	91	106	166	227	265	220	223	169	1,310	1,382	4,285
	121	124	164	207	242	232	249	195	1,102	1,148	4,022
Operating Profit	-31	-18	3	20	24	-12	-26	-27	208	235	263
OPM %	-33.69%	-17.37%	1.62%	9.01%	9.02%	-5.45%	-11.86%	-15.82%	15.90%	16.97%	6.15%
	19	23	14	16	29	39	28	40	-9	22	151
Interest	0	0	3	5	3	2	3	4	25	16	21
Depreciation	3	4	7	9	9	10	9	9	125	124	389
Profit before Tax	-15	1	6	23	41	16	-10	-0	49	116	343
Tax %	-0.00%	432.43%	-22.30%	6.45%	21.46%	5.68%	37.62%	360.25%	-18.96%	34.72%	27.61%
Net Profit	-15	-2	8	21	32	15	-6	1	58	76	248
EPS	0.00	16.66	0.31	0.87	1.30	0.59	-0.24	0.02	2.34	1.74	—
Dividend Payout %	0.00%	-221.24%	65.08%	0.00%	38.67%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 39%
3 Years:: 84%

COMPOUNDED PROFIT GROWTH

10 Years:: 22%
5 Years:: 19%
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 1%
5 Years:: 1%
3 Years:: 2%
Last Year:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	49	49	49	50	50	50	50	50	50	87
	1,193	882	850	822	972	944	952	960	2,686	2,905
	87	0	44	36	5	16	19	46	176	28
Trade Payables	70	25	53	64	59	58	37	37	237	311
	65	39	38	31	45	82	52	116	371	324
Total Liabilities	1,464	994	1,034	1,003	1,131	1,150	1,111	1,210	3,520	3,655
	182	24	52	69	66	67	57	43	1,220	1,162
Capital Work in Progress	1	2	0	4	4	1	2	5	34	55
	891	687	788	758	685	659	633	640	968	977
	63	14	25	31	46	68	48	35	279	293
	0	0	0	0	0	0	0	45	445	554
Cash & Bank	3	3	2	4	1	13	0	1	27	35
	325	266	166	137	329	342	371	441	548	578
Total Assets	1,464	994	1,034	1,003	1,131	1,150	1,111	1,210	3,520	3,655

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-23	-5	74	32	19	11	38	-27	188	119
Cash from Investing	-47	16	-114	-18	17	-4	-51	5	-410	-107
Cash from Financing	71	-12	40	-11	-21	7	0	22	195	-7
	0	-0	0	2	-2	12	-13	1	-27	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	-0.62	-0.09	0.31	0.86	1.29	0.60	-0.24	0.02	2.34	1.74
Book Value (₹)	50.95	38.20	36.41	35.11	41.14	40.02	40.18	40.49	109.29	68.50
Dividend per Share (₹)	0.00	0.20	0.20	0.00	0.50	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-0.49	0.06	0.60	1.22	1.66	0.98	0.12	0.38	7.32	4.58
PROFITABILITY
Operating Margin %	-12.16%	5.49%	9.99%	16.04%	20.56%	12.21%	0.84%	-15.46%	15.90%	16.97%
Net Margin %	-16.04%	-2.06%	4.55%	9.30%	11.95%	6.72%	-2.70%	0.36%	4.46%	5.49%
ROE %	-1.25%	-0.20%	0.83%	2.41%	3.39%	1.47%	-0.61%	0.06%	3.12%	2.65%
ROCE %	-1.13%	0.09%	0.99%	2.96%	4.45%	1.65%	-0.68%	0.37%	3.51%	4.19%
	-1.07%	-0.18%	0.75%	2.10%	3.01%	1.30%	-0.54%	0.05%	2.47%	2.11%
EFFICIENCY
Debtor Days	361	326	133	67	69	94	54	62	68	132
Inventory Days	229	130	43	45	52	94	94	87	44	75
Payable Days	362	218	149	189	206	195	127	125	85	160
	228	238	27	-77	-84	-7	21	24	27	47
FINANCIAL HEALTH
Debt to Equity (x)	0.07x	0.00x	0.05x	0.04x	0.01x	0.02x	0.02x	0.05x	0.07x	0.01x
Interest Coverage (x)	-34.85x	2.69x	2.93x	5.53x	16.26x	10.75x	-2.88x	0.95x	2.96x	8.17x
	2.14x	5.27x	1.09x	1.18x	1.50x	1.73x	1.22x	0.99x	1.65x	2.31x
GROWTH
Revenue Growth %	-77.01%	16.86%	56.84%	36.73%	16.77%	-17.26%	1.39%	-24.32%	677.57%	5.47%
Operating Profit Growth %	-122.50%	151.20%	182.92%	121.09%	50.16%	-51.33%	-93.00%	926.35%	1352.13%	7.24%
Net Profit Growth %	-246.01%	85.47%	444.19%	181.32%	50.48%	-53.92%	-141.08%	110.23%	9302.89%	29.72%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	110.21%	9283.94%	-25.67%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4630.52x	55.98x	105.49x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.85x	1.20x	2.67x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	151.24x	12.27x	26.60x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.78	52.76	52.61	52.61	52.61	52.33	61.41	61.31	61.31
	5.69	6.45	6.10	6.05	6.15	5.90	3.16	2.94	4.50
	8.06	9.99	12.00	12.81	12.98	12.91	7.36	7.98	3.76
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	33.46	30.80	29.29	28.53	28.26	28.85	28.06	27.76	30.43

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

General Updates

2026-09-04 - Viyash Scientific Limited has informed the Exchange about ESOP Allotment

2026-08-16

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-16 - Viyash Scientific Limited has informed the Exchange about Transcript

2026-08-12

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - Viyash Scientific Limited has informed the Exchange about Link of Earning call Recording

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Viyash Scientific Limited has informed the Exchange about Copy of Newspaper Publication for Q1 FY 27 Financial Results.

2026-08-12

Investor Presentation

2026-08-12 - Viyash Scientific Limited has informed the Exchange about Investor Presentation

2026-08-11

Shareholders meeting

2026-08-11 - Viyash Scientific Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-11

Shareholders meeting

2026-08-11 - Viyash Scientific Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026

2026-08-11

Press Release

2026-08-11 - Viyash Scientific Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "Press Release for Q1 FY 2026-27".

2026-08-11

General Updates

2026-08-11 - Viyash Scientific Limited has informed the Exchange about General Updates Allotment of ESOP under Viyash Scientific Limited -Employee Stock Option Scheme 2026

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