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Ind-Swift Laboratories Ltd (INDSWFTLAB)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532305 NSE: INDSWFTLAB Pharmaceuticals & Drugs | Small Cap | Ind-Swift Labs. Share Price

₹401.10 -3.95 (-0.98%)

As on 24-Sep'26 16:59

Ind-Swift Laboratories Ltd (INDSWFTLAB)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532305 NSE: INDSWFTLAB Pharmaceuticals & Drugs | Small Cap | Ind-Swift Labs. Share Price

₹401.10 -3.95 (-0.98%)

As on 24-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,522 Cr.
Current Price
₹401.1
52-Week Low / High
₹87 / 417
TTM EPS
₹6.6
TTM Sales
₹665 Cr.
Book Value per Share
₹161.9
P/E Ratio
61.45
Higher than its 5-year historical median
Industry PE
55.3
Price to Book (P/B)
2.50
Higher than its 5-year historical median
Price to Sales (P/S)
5.30
Higher than its 5-year historical median
EV/EBITDA
27.05
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
3.47%
Underperforms industry median
Return on Capital Employed (ROCE)
4.00%
Underperforms industry median
Return on Assets (ROA)
2.85%
Operating Profit Margin
5.7%
Net Profit Margin
6.63%
Gross Profit Margin
13.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
13.11%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-82.82%
Asset Quality
Promoter Holding
42.93%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,321 Cr.
Equity
₹87 Cr.
Face Value
₹10
All Time Low / High
₹13.25 / 417.00

Ind-Swift Laboratories stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Ind-Swift Laboratories Ltd a good quality company?
Ind-Swift Laboratories Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Ind-Swift Laboratories Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Ind-Swift Laboratories Ltd vs industry peers?
Ind-Swift Laboratories Ltd revenue CAGR is -6.14%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Ind-Swift Laboratories Ltd?
Promoters hold 42.93% of the Ind-Swift Laboratories Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Ind-Swift Laboratories Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 27.2% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ind-Swift Laboratories Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 2.1%4.5%10.7%6%8.2%7.5%12.7%55.5%25.2%4%-
Value Creation
Index
-0.9-0.7-0.2-0.6-0.4-0.5-0.13.00.8-0.7-

Growth Parameters

Sales 6757287247528579881,1521,227562636659
Sales YoY Gr.-7.9%-0.5%3.8%13.9%15.4%16.6%6.5%-54.2%13.1%-
Adj EPS -8.33.1-5.4-5.2-1.1-1.78.223.511.65.86.8
YoY Gr.-NA-276.5%NANANANA186.2%-50.6%-50%-
BVPS (₹) 56.963.473.570.972.373.783.1156.1158.6157.7160.3
Adj Net
Profit
-37.313.9-25.7-30.5-6.7-1048.513979.750.459
Cash Flow from Ops. 92.771.5-74.6123135136183-180-45.3-40.2-
Debt/CF from Ops. 13.415.2-158.17.26.94.6-0-0.7-0.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -0.7%-5.8%-18%13.1%
Adj EPS NANA-10.9%-50%
BVPS12%16.9%23.8%-0.5%
Share Price 26.6% 44.5% 67.4% 283.8%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
-7.22.6-4.5-4.9-1-1.67.417.47.644.3
Op. Profit
Mgn %
15.617.417.318.821.120.319.320.2-0.15.79.3
Net Profit
Mgn %
-5.51.9-3.5-4.1-0.8-14.211.314.27.98.9
Debt to
Equity
4.93.83.22.42.32.11.7000-
Working Cap
Days
478427428420384350324227285265230
Cash Conv.
Cycle
3052862782672532352081076085166

Valuation of Ind-Swift Labs. - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *48.570.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales6977637577808911,0391,2071,281574649
Operating Expenses + 5916286306367098439781,027581612
Manufacturing Costs69938794102991191075160
Material Costs392391403397451537656661288288
Employee Cost 7088919698117126142106139
Other Costs 60574950588977117137126
Operating Profit 106134126143183196229254-737
Operating Profit Margin (%) 15.2%17.6%16.7%18.4%20.5%18.8%19.0%19.8%-1.2%5.7%
Other Income + 23263733234334456957
Exceptional Items -5-283000-27387223-11
Interest 90359210710096925131
Depreciation 8887104908713157532431
Profit Before Tax -553650-2018138758225851
Tax -161421121153916078
Profit After Tax -392229-21-3-24842125143
PAT Margin (%) -5.6%2.9%3.8%-2.7%-0.4%-0.2%4.0%32.9%43.6%6.6%
Adjusted EPS (₹)-8.84.96.1-3.6-0.5-0.48.171.236.45.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 5295525886416046016829311,0991,383
Share Capital 45.464648.2959.8159.8159.8159.8159.0968.7486.84
Reserves 4835065405815445416228721,0301,296
Debt +9988321,0581,006978912802143116
Long Term Debt592520966891884848753112612
Short Term Debt40631193115936449364
Minority Interest0000-0-00-0-0-0
Trade Payables10212912713513917620494110146
Others Liabilities 402415731038601069415378
Total Liabilities 2,0311,9271,8451,7921,7581,7491,7941,1331,3941,623

Fixed Assets

Net Fixed Assets +1,0339259018437396285855271302
Gross Block1,4071,3491,3791,3591,3021,3171,3318652697
Accumulated Depreciation3744254785165636897463382395
CWIP 70692011191080012
Investments 31313117362930111213248
Inventories34431731734337642943910114148
Trade Receivables357408351396432455505169165199
Cash Equivalents 1693011122118432425430
Others Assets 180169196170145177209406206285
Total Assets 2,0311,9271,8451,7921,7581,7491,7941,1331,3941,623
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 9673-64125135150195-163-29-68
PBT -5038-33-2018131131953562
Adjustment 168104186176179226133125-37-20
Changes in Working Capital -22-68-215-31-62-88-51-483-20-103
Tax Paid 00-300000-7-7
Cash Flow From Investing Activity + -31-17-12-9-105-13-104-113-73
Capex -32-21-15-11-4-13-13-42-26-87
Net Investments 0-0-01-617-1-81-126-42
Others 1431111183955
Cash Flow From Financing Activity + -69-62100-133-124-141-18668172142
Net Proceeds from Shares 0110000000
Net Proceeds from Borrowing 0000000000
Interest Paid -6-21-62-68-84-105-129-126-42-5
Dividend Paid 0000000000
Others -63-42161-66-40-36-57807114147
Net Cash Flow -4-623-17114-4413-691
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)-15.897.898.99-5.56-0.78-0.5410.6158.9724.683.47
ROCE (%)2.194.599.255.978.317.8813.2555.1324.244
Asset Turnover Ratio0.340.390.40.430.510.60.680.880.460.45
PAT to CFO Conversion(x)N/A3.32-2.21N/AN/AN/A4.06-0.39-0.12-1.58
Working Capital Days
Receivable Days185.90181.30182.20174.10168.40154.50144.5095.40103.9097.50
Inventory Days178.30156.50152.20153.70146140130.5063.6038.8070.40
Payable Days109.30107.90115.50120.50110.80106.90105.8082.20129.40162.30

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Ind-Swift Laboratories Ltd FAQs

The current trading price of Ind-Swift Labs. on 24-Sep-2026 16:59 is ₹401.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Sep-2026 the market cap of Ind-Swift Labs. stood at ₹3,522.4 Cr

The latest P/E ratio of Ind-Swift Labs. as of 23-Sep-2026 is 59.82.

The latest P/B ratio of Ind-Swift Labs. as of 23-Sep-2026 is 2.53.

The 52-week high of Ind-Swift Labs. is ₹417.0 and the 52-week low is ₹87.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ind-Swift Labs. is ₹659 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ind-Swift Laboratories Ltd is a average quality company.

The key valuation ratios of Ind-Swift Laboratories Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Ind-Swift Laboratories Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Ind-Swift Laboratories Ltd

Ind-Swift Laboratories is a part of the Ind-swift Group and is based at Chandigarh, India. It has been promoted by Ind-Swift Limited in a joint venture with the Punjab State Industrial Development Corporation Limited (PSIDC). The group has established a strong reputation as innovators in the Indian pharmaceutical industry. 

Ind-Swift Laboratories Ltd. went public in 1997 and concentrated on the manufacturing of Active Pharmaceutical Ingredients (API). Its strength in organic synthetic chemistry resulted in the company emerging as the pioneer for a number of products both in the national and international markets. As the company built up vast skills in the area of research and development, quality systems as well as matters relating to regulatory compliance, it began establishing a presence in the highly regulated markets of the world.

Over a short period of time, Ind-Swift Laboratories Ltd. has emerged as a respectable and dependable supplier of Bulk-Actives in more than 40 countries. Not only are the company's plants built as per USFDA, the company employs current Good Manufacturing Practices (cGMP) also, which are recognised and accepted in the stringent regulated markets. This includes a responsible commitment to the environment.   To leverage its quality commitment, the Company has drawn out a long term strategy of emerging as a powerful force in the regulated markets as drugs worth over US$ 80 billion goes off patent during this decade.

The company's shares are listed on the Bombay, National, Ludhiana and Delhi stock exchanges.

Product range of the company include:

  • Macrolide antibiotics
  • Cardiovascular
  • Anti histamine
  • Anti diabetic
  • Analgesic
  • Aromatase inhibtors
  • Anti depressant
  • Alcohol absistence

MANUFACTURING

Ind-Swift's manufacturing facilities are second to none, and in fact has grown over the years to accommodate a wide range of products. However, even with the spiraling increase in production, it has never compromised on Quality, which has always remained its mantra.

The company has put to operation three new manufacturing facilities covered under its Rs 1 billion expansion plans. The three facilities were a dedicated facility to manufacture Statins ( installed capacity of 40TPA) , a new dedicated facility for an Anti-Histamine drug ( installed capacity 27 TPA) and a New API facility at Samba, Jammu (installed capacity of 50TPA ) . All these facilities conform to USFDA standards and have been put to commercial production. The new facility at Jammu is situated in a tax free zone and shall be entitled to tax holiday for a period of ten years.

Strict Quality Control

Equipped with state-of-the-art quality testing equipment and well trained personnel, Ind-Swift maintains strict quality control, storage to delivery in accordance with GMP and ISO 9002. Quality of products meet the respective requirement of USP/BP/EP/JP etc., as per the international quality standards.

Manufacturing Facilities

  • 1,50,000 sq. ft. covered area
  • 5 Dedicated Blocks operating as per US FDA guidelines.
  • 132 Stainless Steel and Glass Lined Reaction Vessels with capacities ranging from 50 to 6000 liters. (Total Volume 245 kilo liters)
  • 3 Automated Fluidized Bed Coaters with capacity of manufacturing 3 MT of Granules per month.
  • cGMP Pilot Plant having 7 reaction vessels with capacities ranging from 250 to 1000 liters. (Total Volume 3.63 kilo liters)
  • Fully Automated Solvent Recovery System
  • Biological Waste Water Treatment Plant

Future plans

While development of new molecules will remain its core activity in the post patent era the Company will also focus on alternate and non-infringing routes for the drugs whose patent will expire in coming years.

To enter the regulated markets like USA, EU, Australia, and New Zealand, the company is focusing on getting its manufacturing plant approved by regulatory agencies like USFDA, TGA and MCA.

A new R&D Center with investment of $ 5 Million is already planned in Mohali with a focus to develop NCEs.

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