Ind-Swift Laboratories Limited (INDSWFTLAB)

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Ind-Swift Laboratories Limited (INDSWFTLAB) · mywealthgrid

About

Ind-Swift Laboratories Limited manufactures pharmaceuticals in the healthcare sector. With a market capitalization of ₹2,646 Cr and recent quarterly revenues around ₹186–191 Cr, the company operates at mid-cap scale. The stock has delivered a 203% one-year return.

Face value: ₹10

Market cap

₹3,438 Cr

P/E

60.0×

P/B

2.5×

Dividend yield

ROE

3.2%

ROCE

4.7%

Debt / equity

0.01

OPM

EPS (TTM)

₹6.6

Book value

₹159.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin volatility: OPM surged from 0.96% (Sep 2025) to 17.91% (Jun 2026)—verify whether this is structural efficiency gain or cyclical spike
Low capital efficiency: ROE of 3.24% despite rising profits suggests poor capital deployment
Stretched valuation: PE of 46.17 following a 203% annual gain leaves minimal room for disappointment
Institutional outflow: FII stake fell from 13.88% (Mar 2026) to 10.7% (Jun 2026)—verify reasons for sell-off

Generated analysis · source review pending

Growth drivers

Operating margin recovery: OPM jumped from 0.96–1.46% (Sep 2025) to 17.46–17.91% (Jun 2026), a 16-percentage-point improvement over 9 months
Revenue acceleration: Quarterly revenue grew from ₹150 Cr (Sep 2025) to ₹186–191 Cr (Jun 2026), showing recent momentum
Profit multiplier from margins: Net profit rose from ₹8 Cr (Sep 2025) to ₹24–25 Cr (Jun 2026)—a 3× gain on 25% revenue growth due to margin expansion
Verify domestic pharma demand recovery and export order trends that could sustain volume and pricing momentum

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹395.2-4.3%1Y

Quick read

rule-based

Pros

+Strong return on equity of 26.4% (3-yr avg)
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 43.9×

Cons

−Thin operating margin of 7%
−Profit declined 4.5% a year over the last 3 years
−Revenue shrank over the last 5 years (-6.4% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

38/100

Business quality: 41
Growth: 50
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	780	891	1,039	1,207	1,281	562	641
COGS	397	451	527	656	661	288	282
Gross profit	383	440	512	552	619	274	359
	239	257	316	323	365	293	314
	144	183	196	229	254	-19	45
OPM %	18.5%	20.5%	18.9%	19%	19.9%	-3.5%	7.1%
Depreciation	90	87	131	57	53	24	31
Interest	107	100	96	92	51	3	1
	33	23	43	7	432	305	36
Profit before tax	-20	18	13	86	573	258	49
Tax	1	21	15	39	151	7	8
Tax %	7.2%	117.5%	117.2%	44.8%	26.4%	2.8%	15.7%
	-21	-3	-2	48	421	250	41
PAT margin %	-2.7%	-0.4%	-0.2%	3.9%	32.9%	44.6%	6.5%
EPS (₹)	-4.3	—	-0.4	8.1	71.2	37.3	5
EPS adjusted (₹)	-3.5	-0.5	-0.4	8	71.3	36.4	4.8
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	60	60	60	60	59	69	87
Reserves	581	544	541	622	872	1,104	1,297
	1,031	1,005	952	862	17	41	18
	199	210	247	281	217	225	271
Total equity & liabilities	1,870	1,818	1,801	1,824	1,165	1,438	1,673
	828	739	628	585	5	271	300
CWIP	4	11	9	8	—	—	10
Investments	33	50	32	33	113	216	250
	1,006	1,019	1,132	1,199	1,047	952	1,113
Total assets	1,870	1,818	1,801	1,824	1,165	1,438	1,673

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.1%	49.4%	49.3%	45.7%	48.4%	48.7%	56%
EBITDA margin %	18.5%	20.5%	18.9%	19%	19.9%	-3.5%	7%
EBIT margin %	7%	10.7%	6.3%	14.2%	15.7%	-7.8%	2.3%
PAT margin %	-2.7%	-0.4%	-0.2%	3.9%	32.9%	44.6%	6.5%
Working capital
Receivable days	186	177	160	153	48	107	113
Inventory days	315	304	297	244	6	145	191
Payable days	124	112	122	114	52	140	188
NWC days	377	369	335	283	2	112	116
Leverage
Current ratio	2.66	2.99	3.21	3.14	2.99	3.92	3.83
Debt to EBITDA	7.14	5.5	4.85	3.76	0.07	—	0.4
Debt to equity	1.61	1.67	1.58	1.26	0.02	0.03	0.01
Interest coverage	0.8	1.2	1.1	2.2	4.8	12.8	43.9
Asset turnover	0.42	0.49	0.58	0.66	1.1	0.39	0.38
Return ratios
Return on assets %	-1.1%	-0.2%	-0.1%	2.6%	36.2%	17.4%	2.5%
Return on capital employed %	5.7%	7.8%	7.3%	14.1%	20.5%	3.5%	4.7%
Return on equity %	-3.3%	-0.5%	-0.4%	7%	45.2%	21.4%	3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42%	42%	42%	42%	42%	42%	40.94%	40.94%	39.5%	39.5%	42.99%	42.93%
	0.17%	0.31%	0.25%	1.26%	0.65%	0.46%	3.07%	4.27%	14.8%	14.33%	13.88%	10.7%
	19.49%	18.73%	8.03%	0.94%	0.94%	0.94%	0.91%	0.91%	0.68%	0.68%	0%	0.17%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	38.34%	38.96%	49.72%	55.8%	56.41%	56.6%	55.08%	53.88%	45.02%	45.49%	43.13%	46.2%
No. of shareholders	—	—	—	—	—	—	—	—	43,780	42,121	39,222	40,881

Promoter holding up 0.93 percentage points since Sep 2023.

109 deals · 7 Sept 2023 – 29 May 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
29 May 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	6,70,635	₹155.10	₹10.40 Cr
29 May 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	2,02,663	₹153.04	₹3.10 Cr
20 Apr 2026	HCP INVESTMENTS	Bulk	BSE	Sell	7,00,000	₹131.14	₹9.18 Cr
17 Apr 2026	HCP INVESTMENTS	Bulk	NSE	Sell	48,00,000	₹134.18	₹64.41 Cr
17 Apr 2026	F3 ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	8,35,425	₹133.17	₹11.13 Cr
17 Apr 2026	NOVA GLOBAL OPPORTUNITIES FUND PCC - TOUCHSTONE	Bulk	NSE	Buy	8,03,387	₹138.07	₹11.09 Cr
17 Apr 2026	MANSI SHARE AND STOCK BROKING PRIVATE LIMITED	Bulk	NSE	Buy	7,98,784	₹132.66	₹10.60 Cr
17 Apr 2026	F3 ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	7,02,431	₹133.25	₹9.36 Cr
17 Apr 2026	MANSI SHARE AND STOCK BROKING PRIVATE LIMITED	Bulk	NSE	Sell	6,96,283	₹136.17	₹9.48 Cr
17 Apr 2026	SHARE INDIA SECURITIES LIMITED	Bulk	NSE	Buy	6,89,971	₹134.28	₹9.26 Cr

1–10 of 109

1 / 11

Mr. Navrattan MunjalExecutive Director-Chairperson related to Promoter
Gagan AggarwalChief Financial Officer
Mr. Himanshu JainExecutive Director-MD
Mr. Rishav MehtaExecutive Director
Mr. Sahil MunjalExecutive Director-MD
Mrs. Neerja ChathleyNon-Executive - Independent Director
Mr. Rajinder Kumar GuptaNon-Executive - Independent Director
Mr. Subodh GuptaNon-Executive - Independent Director
Pardeep VermaCompany Secretary & Compliance Officer & G.M Corporate Affairs

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Ind-Swift Laboratories Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPTREC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

5

Dividend dividend20 Sept 2011 · ex-date₹1
Dividend dividend16 Sept 2010 · ex-date₹1
Dividend dividend17 Sept 2009 · ex-date₹1
Dividend dividend18 Sept 2008 · ex-date₹1
Dividend dividend21 Sept 2007 · ex-date₹1

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

36 announcementsExport CSV

30 Sept 2026, 6:22 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

28 Sept 2026, 7:06 pmCompany Update

Intimation To The Shareholders Of Physical Securities Pursuant To SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 Dated May 07, 2024

General PDF

28 Sept 2026, 6:59 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 11:13 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

21 Sept 2026, 6:11 pmCompany Update

Disclosures Under Regulation 29(2) Of The SEBI (Substantial Acquisition Of Shares And Takeover) Regulations, 2011

General PDF

17 Sept 2026, 5:45 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment

Allotment of Equity Shares PDF

6 Sept 2026, 2:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

5 Sept 2026, 8:49 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
30 Sept 2026, 6:22 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Sept 2026, 7:06 pm	Company Update General	Intimation To The Shareholders Of Physical Securities Pursuant To SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 Dated May 07, 2024

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.1%	49.4%	49.3%	45.7%	48.4%	48.7%	56%
EBITDA margin %	18.5%	20.5%	18.9%	19%	19.9%	-3.5%	7%
EBIT margin %	7%	10.7%	6.3%	14.2%	15.7%	-7.8%	2.3%
PAT margin %	-2.7%	-0.4%	-0.2%	3.9%	32.9%	44.6%	6.5%
Working capital
Receivable days	186	177	160	153	48	107	113
Inventory days	315	304	297	244	6	145	191
Payable days	124	112	122	114	52	140	188
NWC days	377	369	335	283	2	112	116
Leverage
Current ratio	2.66	2.99	3.21	3.14	2.99	3.92	3.83
Debt to EBITDA	7.14	5.5	4.85	3.76	0.07	—	0.4
Debt to equity	1.61	1.67	1.58	1.26	0.02	0.03	0.01
Interest coverage	0.8	1.2	1.1	2.2	4.8	12.8	43.9
Asset turnover	0.42	0.49	0.58	0.66	1.1	0.39	0.38
Return ratios
Return on assets %	-1.1%	-0.2%	-0.1%	2.6%	36.2%	17.4%	2.5%
Return on capital employed %	5.7%	7.8%	7.3%	14.1%	20.5%	3.5%	4.7%
Return on equity %	-3.3%	-0.5%	-0.4%	7%	45.2%	21.4%	3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-64	125	135	150	195	-181	-25	-63
	-12	-9	-10	5	-13	-104	-110	-73
	100	-133	-124	-141	-186	699	69	142
Net cash flow	23	-17	1	14	-4	414	-66	6
Free cash flow	-80	115	131	132	182	-225	-90	-151
CFO / Operating profit %	—	86.7%	73.8%	76.5%	84.9%	-71.2%	—	-140.1%

Ind-Swift Laboratories Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

5

1

Announcements

5

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Ind-Swift Laboratories Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends5

Board meetings1

Announcements

Dividends5

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

5

1

5

1