Windlas Biotech Ltd (WINDLAS) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543329 | NSE: WINDLAS | Pharmaceuticals & Drugs | Small Cap

Windlas Biotech Share Price

770.65 -20.30 -2.57%
as on 05-Dec'25 16:59

Windlas Biotech Ltd (WINDLAS) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543329 | NSE: WINDLAS | Pharmaceuticals & Drugs | Small Cap

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Based on:

Overall Rating
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1. Quality


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2. Valuation


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3. Price Trend


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Windlas Biotech stock performance -

Key Ratios
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P/E Ratio (SA):
24.89
Market Cap:
1,667.1 Cr.
52-wk low:
667.3
52-wk high:
1,175.2

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10 Year X-Ray of Windlas Biotech: Login to view analysis.

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.
Windlas Biotech Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 7.7%9.6%14.4%17.9%14.7%5.2%15%14.4%18.3%17%-
Value Creation
Index
-0.5-0.30.00.30.1-0.60.10.00.30.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 274315320288329428466513631760830
Sales YoY Gr.-15.2%1.6%-10%14.1%30%9%10.1%23%20.4%-
Adj EPS 2.95.810.612.31315.217.52027.928.831.8
YoY Gr.-101.4%83%16.5%5.6%16.4%15.8%13.8%39.5%3.5%-
BVPS (₹) 86.892.6103.2106.6121109.3180.5191.1214.2238.8253.4
Adj Net
Profit
4.69.216.822.523.727.638.241.857.960.367
Cash Flow from Ops. 47.36.939.122.124.911.596110968.2-
Debt/CF from Ops. 1.18.611.41.12.70.7000.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12%18.2%17.7%20.4%
Adj EPS 29.2%17.2%18%3.5%
BVPS11.9%14.6%9.8%11.5%
Share Price - - 43.1% -29.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
4.46.310.612.411.413.212.910.513.612.612.9
Op. Profit
Mgn %
7.57.91215.412.612.811.411.712.412.412.7
Net Profit
Mgn %
1.72.95.27.87.26.58.28.19.27.98.1
Debt to
Equity
0.40.40.20.20.10.20000.10
Working Cap
Days
145115118123126119140171147127115
Cash Conv.
Cycle
27910322396968413060

Recent Performance Summary

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Latest Financials - Windlas Biotech Ltd.

Standalone Consolidated
TTM EPS (₹) 31.8 31.9
TTM Sales (₹ Cr.) 830 830
BVPS (₹.) 253.4 253.4
Reserves (₹ Cr.) 524 524
P/BV 3.12 3.12
PE 24.89 24.76
From the Market
52 Week Low / High (₹) 667.30 / 1175.20
All Time Low / High (₹) 203.15 / 1197.00
Market Cap (₹ Cr.) 1,667
Equity (₹ Cr.) 10.5
Face Value (₹) 5
Industry PE 40.7

Management X-Ray of Windlas Biotech:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Windlas Biotech - Standalone Basis

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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Event Update

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Analyst's Notes

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Key Ratios of Windlas Biotech

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales274315320288329428466513631760
Operating Expenses 253290282244287373413453553666
Manufacturing Costs9101112153436545352
Material Costs203234224181212261291299374454
Employee Cost 252933334458637087123
Other Costs 16171417171923293837
Operating Profit 20253844415553607894
Operating Profit Margin (%) 7.5%7.9%12.0%15.4%12.6%12.8%11.4%11.7%12.4%12.4%
Other Income 1432237101318
Interest 7554311114
Depreciation 9911891312121328
Exceptional Items 00000-320000
Profit Before Tax 6142535321146577779
Tax 15812867141919
Profit After Tax 59172224539435861
PAT Margin (%) 1.7%2.9%5.3%7.8%7.2%1.2%8.3%8.3%9.2%8.0%
Adjusted EPS (₹)2.95.810.712.313.02.817.720.428.028.9
Dividend Payout Ratio (%)0%0%0%0%0%0%20%20%20%20%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 141150167194220199393400445501
Share Capital 99966611101010
Reserves 132141158188214193382389435490
Minority Interest0000000000
Debt44513023223060027
Long Term Debt2018126110000
Short Term Debt24331817212950027
Trade Payables7677755883406387131167
Others Liabilities 20252520232727404965
Total Liabilities 280303297295349296489527626760

Fixed Assets

Gross Block9110111412679184164194275347
Accumulated Depreciation35455664988738596123
Net Fixed Assets 56565862709691109179223
CWIP 9151150081565
Investments 951211231211272365107173223
Inventories27402719494159756281
Trade Receivables556159626479111117136167
Cash Equivalents 2926131831114253116
Others Assets 981313202542793844
Total Assets 280303297295349296489527626760

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 4773922251196110968
PBT 6142535321146577779
Adjustment 161215101047107718
Changes in Working Capital 29-184-9-4-40-38644-9
Tax Paid -3-2-5-13-13-7-9-10-19-21
Cash Flow From Investing Activity -62-39-11-7-14-20-154-14-92-74
Capex -13-15-11-10-15-6-15-70-38-52
Net Investments 00-03087-14251-56-24
Others -49-23111-1023522
Cash Flow From Financing Activity 395-25-8-51130-44-151
Net Proceeds from Shares 100500165004
Net Proceeds from Borrowing 00-5-8-6-5-0-0-00
Interest Paid -7-5-5-3-3-1-1-1-1-4
Dividend Paid 0000000-8-8-11
Others 4510-15-137-33-35-612
Net Cash Flow 24-27475-8-1532-5

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)4.516.4410.8812.5611.432.3913.0210.7513.7612.82
ROCE (%)7.689.5514.3717.914.75.2215.0314.3818.3117.04
Asset Turnover Ratio1.141.081.070.971.021.331.191.011.091.1
PAT to CFO Conversion(x)9.40.782.2911.042.20.231.421.881.11
Working Capital Days
Receivable Days82676877706174817373
Inventory Days40393829383939474034
Payable Days117119124134122866592107120

Windlas Biotech Ltd Stock News

Windlas Biotech Ltd FAQs

The current trading price of Windlas Biotech on 05-Dec-2025 16:59 is ₹770.6.
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 04-Dec-2025 the market cap of Windlas Biotech stood at ₹1,667.1.
The latest P/E ratio of Windlas Biotech as of 04-Dec-2025 is 24.89.
The latest P/B ratio of Windlas Biotech as of 04-Dec-2025 is 3.12.
The 52-week high of Windlas Biotech is ₹1,175.2 and the 52-week low is ₹667.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Windlas Biotech is ₹830.2 ( Cr.) .

About Windlas Biotech Ltd

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 revenue. With over two decades of experience in manufacturing both solid and liquid pharmaceutical dosage forms and significant experience in providing specialized capabilities, including, high potency, controlled substances and low solubility, it provides a comprehensive range of CDMO services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics, in compliance with current Good Manufacturing Practices (GMP) with a focus on improved safety, efficacy and cost. In addition to providing services and products in the CDMO market, it also sell its own branded products in the trade generics and OTC markets as well as export generic products to several countries.

The company’s CDMO Services and Products SBV is focused on providing products and services across a diverse range of pharmaceutical and nutraceutical generic products for Indian and multinational pharmaceutical companies who market such products under their own brand names to the end users. The company’s Domestic Trade Generics and OTC Brands SBV consists of (i) trade generic products; and (ii) OTC brands, which include nutraceutical and health supplement products that do not require prescription and are marketed, distributed and promoted in India under its own brand names through online and offline channels and majorly manufactured by it. Trade generic products are generic medicines, i.e. drugs for which the patents have expired, which are sold directly to the distributor and not marketed through medical representatives, and are typically used as a substitute for more expensive branded generic medicines in order to offer affordable medicines to patients by the retailers and pharmacies. The company’s Exports SBV is engaged in identifying high growth markets and opportunities in semi-regulated international markets as well as selected regulated markets, for developing and registering product applications to obtain marketing authorizations for generic medicines and health supplements and subsequently, sell such products to pharmaceutical companies and pharmacies in the respective markets.

Business area of the company

The company provides pharmaceutical development services, large-scale manufacturing services and authentic yet affordable products to its customers and consumers around the world.

Awards, accreditations and recognitions

  • 2018: The company was awarded the TV100 Industrial Excellence Award in the field of medicine.
  • 2019: The company was awarded the certificate of appreciation from the Secretary, Bureau of Energy Efficiency for valuable contributions in implementing energy efficiency and cleaner production measures under the project ‘Financing Energy Efficiency at MSMEs’.
  • 2019: The company was awarded the certificate of partnership recognizing its contribution to and participation in the Swasth Bharat Yatra, a pan-India cyclothon organised by the Food Safety and Standards Authority of India.

Major events and milestones

  • 2001: Commenced operations at Dehradun Plant - I situated at 40/1, Mohabewala Industrial Area, Dehradun 248 110 and initiated commercial production.
  • 2009: Commenced operations at Dehradun Plant - IV situated at plot no. 183 and 192, Mohabewala Industrial Area, Dehradun 248 110.
  • 2010: Revenues crossed Rs 1,000 million for the FY 2009-10.
  • 2014: Received first USFDA inspection clearance for the WHC Plant.
  • 2014: Revenues crossed Rs 2,000 million for the FY 2013-14.
  • 2014: Commenced operations at Dehradun Plant - II situated at khasra no. 141 to 143 and 145, Mohabewala Industrial Area, Dehradun 248 110.
  • 2015: Investment of Rs 750 million from Tano India Private Equity Fund II.
  • 2017: Revenues crossed Rs 3,000 million for the FY 2016-17.
  • 2018: Launched first product in the United States from the Dehradun Plant - IV situated at plot no. 183 and 192, Mohabewala Industrial Area, Dehradun.
  • 2018: Commenced operations at Dehradun Plant - III situated at plot no. 39, Pharmacity, Selaqui, Dehradun.
  • 2021: Approval of Scheme of Amalgamation of its erstwhile subsidiary, Windlas Healthcare, with and into the company.
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