INDSWFTLABHealthcare

Ind-Swift Laboratories Limited

Pharmaceuticals · ISIN INE915B01019 · BSE 532305 · NSE EQ · FV ₹10
Last price
₹371
+7.80%today
What this company does

Ind-Swift Laboratories Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹240 cr of revenue in its latest quarter (Q2 FY27) and kept 14.2% of sales as profit.

In the report:
56out of 100
Equitytale Health Score
Mixed

Healthier than 56% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 80–153 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
44

At close. Not part of the score.

Profitability & returns44

How much profit it earns on the money it employs

Balance sheet82

How much it owes, and whether earnings cover the interest

Cash quality21

Whether reported profit actually arrives as cash

Growth & consistency23

Whether sales and profit have grown, and how steadily

Valuation80

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 58% vs last year
✓ Profit up 328% vs last year
✓ Promoters hold 43%
✓ No promoter shares pledged
✓ Virtually debt-free
Watch-outs
! Operating cash flow is negative

What if I invest in INDSWFTLAB?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹371▲ +7.80%
latest close · 2026-11-04
1-year return
+480.8%
52-wk low ₹5352-wk high ₹427
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio23.5Average
LowAverageHigh
P/B ratio2.19Moderate
Below bookModerateHigh
EV / EBITDA13.8Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity9.3%Fair
WeakFairStrong ▸15%
Return on capital11.9%Fair
WeakFairStrong
Net margin14.2%Decent
ThinDecentStrong
EBITDA margin21.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.01Comfortable
LowModerateHigh ▸1
Interest cover33.5×Strong
RiskyOkayStrong ▸5×
Current ratio3.90Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,222 cr
Book value
₹170
EPS
₹3.94
latest quarter
Net debt
₹-321 cr
more cash than debt
Enterprise value
₹2,902 cr
EBITDA
₹210 cr
annualised
EBIT
₹179 cr
annualised
Operating margin
18.6%
Return on assets
7.7%
Earnings yield
4.25%
P/S
3.35
Sales / share
₹110.6
Tax rate
21.3%
Face value
₹10
Shares
8.7 cr
Working capital
₹761 cr
Current assets
₹1,023 cr
Current liabilities
₹262 cr
Delivery %
44.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹140–₹164, midpoint ₹152

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹240 cr
Other Income₹8 cr
Total Income₹248 cr
Cost of Materials₹93 cr
Purchases of Stock-in-Trade₹16 cr
Inventory Change (±)₹-2 cr
Employee Benefit Expense₹38 cr
Finance Costs₹1 cr
Depreciation & Amortisation₹8 cr
Other Expenses₹51 cr
Total Expenses₹204 cr
Exceptional Items₹-58 L
Profit before Tax₹43 cr
Tax Expense₹9 cr
Share of JV / Associates₹7.2 L
Net Profit₹34 cr
Net margin on total income13.8%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹107 cr43.0%
Employee benefit expense₹38 cr15.3%
Finance costs₹1 cr0.5%
Depreciation & amortisation₹8 cr3.1%
Other expenses₹51 cr20.4%
Tax expense₹9 cr3.7%
Profit for the period₹34 cr13.8%
Total income ₹248 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue170 cr191 cr240 cr
Total income172 cr199 cr248 cr
Expenses155 cr166 cr204 cr
Profit before tax12 cr33 cr43 cr
Tax-3 cr8 cr9 cr
Net profit (owners' share)15 cr25 cr34 cr
Net margin (owners' share, on revenue)8.9%12.9%14.2%
EPS (₹)1.812.843.94
YoY (latest quarter): total income +45.5% · net profit +328.3%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹1,771 cr
Shareholder equity
₹1,474 cr
parent shareholders
Total debt
₹20 cr
Cash
₹340 cr
Cash flow · H1 FY27
Operating
₹-35 cr
Investing
₹-86 cr
Financing
₹34 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,770₹4.25 L cr53.3
Divi's Laboratories Limited₹10,064₹2.67 L cr74.1
Torrent Pharmaceuticals Limited₹4,650₹1.77 L cr82.7
Laurus Labs Limited₹2,323₹1.26 L cr71.1
Zydus Lifesciences Limited₹1,241₹1.24 L cr33.2
Dr. Reddy's Laboratories Limited₹1,368₹1.14 L cr30.8
Cipla Limited₹1,397₹1.13 L cr32.2
Mankind Pharma Limited₹2,475₹1.02 L cr35.9
Aurobindo Pharma Limited₹1,695₹97,502 cr23.7
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-09-30
No pledge
Promoter
42.9%
FII / Foreign
10.8%
DII / Domestic
0.2%
Retail / others
46.1%
Promoter stake up 2.0% over the last 12 quarters.
Smart-money activity
Insider trades
SoldPARDEEP VERMA · KMP6,140 · ₹25.1 L24 Sep 26
SoldPARDEEP VERMA · KMP6,140 · ₹25.1 L24 Sep 26
SoldGAGAN AGGARWAL · Key Managerial Personnel30,000 · ₹42.4 L9 Sep 24
Bulk / block deals
BoughtHRTI PRIVATE LIMITED · NSE6.71 L @ ₹155.129 May 26
SoldHRTI PRIVATE LIMITED · NSE2.03 L @ ₹153.0429 May 26
BoughtSHARE INDIA SECURITIES LIMITED · NSE6.90 L @ ₹134.2817 Apr 26
Stake changes
BoughtEssix Biosciences Limited · promoter→ 38.80% · 14.00 L8 Oct 26
BoughtEssix Biosciences Limited · promoter→ 37.81%17 Sep 26
SoldHCP Investments→ 1.15% · 65.03 L16 Apr 26
Promoter pledges
ReleasedIDBI Trusteeship Services Limited95.00 L · 16.08% held28 Mar 24
ReleasedIDBI Trusteeship Services Ltd Security trustee on behalf of IDBI Bank Ltd, Edelweiss Asset Reconstruction company Ltd and others ( Lenders of Ind swift Laboratories Ltd)95.00 L · 16.08% held28 Mar 24
PledgedIDBI Trusteeship Services Ltd95.00 L · 0.00% held12 Oct 20
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 29 Sep 2025
See the official result
1
To receive, consider, approve and adopt the Audited Financial Statements (including Consolidated Financial Statements) for the financial year ended 31st March, 2025 together with the Directors' and Auditors' Reports thereupon.
Backed by 100% of shareholders other than promotersneeded 50%
29.83 L votes for, 312 against · 0% of mutual funds and other big investors said no
2
To appoint a director in place of Mr. Rishav Mehta, Executive Director (DIN: 03028663) who retires by rotation under the provisions of Companies Act, 2013 and being eligible, offers himself for re-appointment
Backed by 99% of shareholders other than promotersneeded 50%
29.39 L votes for, 44,656 against · 97% of mutual funds and other big investors said no
3
RATIFICATION OF REMUNERATION TO THE COST AUDITORS FOR THE FINANCIAL YEAR 2025-26:
Backed by 100% of shareholders other than promotersneeded 50%
29.83 L votes for, 488 against · 0% of mutual funds and other big investors said no
4
TO APPOINT SECRETARIAL AUDITOR FOR SECRETARIAL AUDIT OF THE COMPANY
Backed by 100% of shareholders other than promotersneeded 50%
29.83 L votes for, 488 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 20 named members
owning 42.9% between them · as of 2026-09-30
ESSIX BIOSCIENCES LIMITED37.81%
NAVRATTAN MUNJAL1.16%
RISHAV MEHTA1.10%
S. R. MEHTA0.62%
HIMANSHU JAIN0.55%
GOPAL MUNJAL0.41%
V.R. MEHTA0.39%
SUNITA JAIN0.37%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹34 cr raised in Sep 2026 by selling shares to selected investors

As of Sep 2026, the company says it has spent 11% of what it set aside. CARE RATINGS LIMITED watches the spending on the exchange’s behalf.

Expansion of Existing Manufacturing Facility and Setting up of a new Warehouse
15%
of what was set aside
Research & Development (‘R&D’)
17%
of what was set aside
Technology Upgradation
0%
of what was set aside
Investment in subsidiary
97%
of what was set aside
To meet the Working Capital Requirements of the Company
8%
of what was set aside
General Corporate Purpose
0%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

₹256 cr raised in Aug 2024 by selling shares to selected investors

As of Sep 2026, the company says it has spent 70% of what it set aside, leaving ₹94 cr still to be spent. CARE RATINGS LIMITED watches the spending on the exchange’s behalf.

Expansion of Business of the Company or the Wholly Owned Subsidiaries
76%
₹114 cr of ₹150 cr
Investment in existing or to be acquired Subsidiaries
55%
₹27 cr of ₹50 cr
Working Capital for existing business
100%
₹40 cr of ₹40 cr
General Corporate Purpose
53%
₹40 cr of ₹75 cr
Spent by quarter: 74% → 80% → 70% (to Sep 2026) · 4 earlier quarters are left out because the company restated its figures

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.