Ind-Swift Laboratories Ltd
INDSWFTLABInd-Swift Laboratories Ltd's price has outrun its earnings. +116.5% in a year against EPS −88.5% — the market is paying now for delivery later.
The sharpest disagreement: profits are rising, but only −36% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (23 weeks in) while the P/E sits at the 99th percentile of its own 8-year range. Underneath, the last four quarters read improving — profit −93.2% year on year, and −36% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Ind-Swift Laboratories Ltd trades at ₹231, in a confirmed uptrend and 23 weeks into that stage. That is +62.6% against its own 200-day average. It sits at 90% of a 52-week range of ₹90 to ₹246. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks.
Today the stock is in a confirmed uptrend — week 23 of stage 2, confirmed. At ₹231 it trades +62.6% versus its 200-day average and sits at 90% of its 52-week range (₹90–₹246).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +545% while the NIFTY 500 moved +280% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 14 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 99th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Ind-Swift Laboratories Ltd trades at 40.0× P/E, about the priciest it has ever traded. Its long-run median P/E is 15.9×, measured across 7.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 40.0× is about the priciest it has ever traded, against a long-run median of 15.9× measured over 7.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −88.5% against a +116.5% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +15.0%/yr price move, ~+24.8%/yr came from earnings growth and ~−9.8 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Ind-Swift Laboratories Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 10 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +14.1% | −19.0% | −6.4% | −0.2% |
| Profit | −83.6% | −5.1% | — | — |
| EPS | −88.5% | −16.0% | — | — |
| Share price | +116.5% | +40.5% | +15.0% | +19.5% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
59.0/100 — rank 4 of 14 in Pharma - API · 83% evidence confidence
Ind-Swift Laboratories Ltd scores 59.0 out of 100 against the 14 companies it is compared with in Pharma - API, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 22.3 + 10.4 + 6.3 + 20 = 59. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Ind-Swift Laboratories Ltd reported ₹170 Cr of revenue in the Mar 26 quarter, +23.2% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at −0.2% a year. The last full year, FY26, came in at ₹641 Cr. The last four reported quarters add to ₹627 Cr.
Ind-Swift Laboratories Ltd reported ₹170 Cr of revenue in the Mar 26 quarter, +23.2% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at −0.2% a year. The last full year, FY26, came in at ₹641 Cr. The last four reported quarters add to ₹627 Cr.
FY26 revenue came in at ₹641 Cr (+14.1% on the year), capping 10 years at −0.2% compound. The latest quarter (Mar 26) printed ₹170 Cr, +23.2% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +394.7% growth against the decade's −0.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +101.0% over the last 4 quarters against −33.5%/yr over the last 8 — accelerating; TTM profit −80.7% vs −72.7%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 12.0% this quarter (+19.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Ind-Swift Laboratories Ltd's operating margin is 12.0% in the Mar 26 quarter, +19.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −3.0% to 21.0%. The current quarter sits inside that band.
Ind-Swift Laboratories Ltd's operating margin is 12.0% in the Mar 26 quarter, +19.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −3.0% to 21.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 12.0%, +19.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −3.0%–21.0%.
Why the margin moved: operating margin went +18.8 pp year on year while gross margin went +5.5 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins held — did that reach the bottom line? Next: profit −93.2% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Ind-Swift Laboratories Ltd earned ₹15.0 Cr of net profit in the Mar 26 quarter, −93.2% year on year. Full-year FY26 profit was ₹41.0 Cr. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹222 Cr. 1 of the last 12 reported quarters were loss-making.
Ind-Swift Laboratories Ltd earned ₹15.0 Cr of net profit in the Mar 26 quarter, −93.2% year on year. Full-year FY26 profit was ₹41.0 Cr. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹222 Cr. 1 of the last 12 reported quarters were loss-making.
Mar 26 profit was ₹15.0 Cr, −93.2% year on year. On the full year, FY26 printed ₹41.0 Cr (−83.6%).
→ Profit rose — but did the cash follow? Next: −36% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −36% of Ind-Swift Laboratories Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−70.0 Cr of operating cash against ₹41.0 Cr of profit. After ₹74.0 Cr of capital spending, ₹−144 Cr was left as free cash.
FY26: operating cash of ₹−70.0 Cr against reported profit of ₹41.0 Cr, leaving free cash of ₹−144 Cr after ₹74.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −36% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −36%: the cash cycle tightened 251 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 116-day cycle and ₹−171 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Ind-Swift Laboratories Ltd's cash conversion cycle runs 116 days in FY26, down from 367 days in FY21. Capital spending ran ₹−171 Cr over the last 3 years. At FY26 sales of ₹641 Cr each day of that cycle holds about ₹1.8 Cr, so roughly ₹204 Cr sits inside the business at any moment.
FY26: debtors at 113 days, inventory at 191 days — roughly 6.3 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 116 days, tighter than FY21's 367.
The full loop: cash goes out to suppliers and production on day 0; stock waits 191 days to sell; customers pay about 113 days after that; and suppliers themselves are paid at 188 days — netting out to the 116-day cycle.
In money terms: at FY26 sales of ₹641 Cr, each day of the cycle holds about ₹1.8 Cr — so the 116-day loop keeps roughly ₹204 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹−171 Cr over the last 3 fiscal years against ₹108 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹10.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 5% and the ROIC − WACC spread is −10.7 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Ind-Swift Laboratories Ltd earns a ROCE of 5% in FY26. That is up from a trough of 0% in FY14. Return on invested capital clears the cost of that capital by −10.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 6.4% net margin on 0.38× asset turns.
FY26 ROCE is 5%, recovered from a FY14 trough of 0% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 6.4% net margin × 0.38× asset turns × 1.21× balance-sheet leverage ≈ 2.9% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 1.3% − 12.0% = a −10.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.01.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Ind-Swift Laboratories Ltd carries total debt of ₹21.0 Cr against shareholder equity of ₹1,384 Cr as of Mar 26, a debt-to-equity of 0.02 — effectively unlevered. On the annual view that ratio went from 1.59 in FY22 to 0.02 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹21.0 Cr against shareholder equity of ₹1,384 Cr — a debt-to-equity of 0.02. On the annual view, debt-to-equity went from 1.59 (FY22) to 0.02 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Foreign institutions added 10.0 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 10.0 points of Ind-Swift Laboratories Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 10.7% of the company. Promoters moved +0.9 points over the same window, to 42.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +10.0 points over 8 quarters to 10.7%; Promoters: +0.9 points over 8 quarters to 42.9%; Domestic institutions: −0.8 points over 8 quarters to 0.2%.
Why the register moved: foreign institutions drove it (+10.0 points), alongside promoters (+0.9 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Ind-Swift Laboratories Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Ind-Swift Laboratories Ltd this page | 40.0× | ₹1,978 Cr | No read | |||
| Senores Pharmaceuticals Ltd | 55.4× | ₹6,390 Cr | No read | |||
| Aarti Pharmalabs Ltd | 34.6× | ₹6,110 Cr | Mixed | |||
| Innova Captab Ltd | 38.8× | ₹5,439 Cr | Consistent | |||
| Orchid Pharma Ltd | 185.0× | ₹5,014 Cr | Turning around | |||
| Gujarat Themis Biosyn Ltd | 84.2× | ₹3,928 Cr | Turning around | |||
| Aarti Drugs Ltd | 18.9× | ₹3,692 Cr | Mixed | |||
| Beta Drugs Ltd | 52.9× | ₹2,413 Cr | Turning around | |||
| Jagsonpal Pharmaceuticals Ltd | 32.7× | ₹1,461 Cr | Mixed | |||
| Fermenta Biotech Ltd | 20.2× | ₹1,272 Cr | No read | |||
| Wanbury Ltd | 27.0× | ₹1,160 Cr | Turning around | |||
| Themis Medicare Ltd | 613.0× | ₹1,012 Cr | Mixed | |||
| Fermenta Biotech Ltd | 11.2× | ₹989 Cr | No read | |||
| Kopran Ltd | 37.3× | ₹960 Cr | Turning around | |||
| Anuh Pharma Ltd | 21.8× | ₹792 Cr | Turning around |
Frequently asked questions
What is Ind-Swift Laboratories Ltd's share price today?
Ind-Swift Laboratories Ltd trades at ₹231, +116.5% over the past year. The company is valued at ₹1,978 Cr. The stock sits at 90% of its 52-week range of ₹90–₹246, +62.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 23 weeks in. — as of 24 July 2026.
What were Ind-Swift Laboratories Ltd's latest quarterly results?
Ind-Swift Laboratories Ltd reported revenue of ₹170 Cr and net profit of ₹15.0 Cr for the Mar 26 quarter. Revenue rose 23.2% and profit fell 93.2% year on year. Earnings per share were ₹1.74. The operating margin was 12.0%, 19.0 pp higher than a year earlier. — as of 24 July 2026.
What is Ind-Swift Laboratories Ltd's revenue?
Ind-Swift Laboratories Ltd reported revenue of ₹170 Cr in the Mar 26 quarter, +23.2% year on year. For the full FY26 fiscal year, revenue was ₹641 Cr (+14.1%). Over the last 10 years revenue compounded at −0.2% a year. — as of 24 July 2026.
What is Ind-Swift Laboratories Ltd's profit?
Ind-Swift Laboratories Ltd earned ₹15.0 Cr of net profit in the Mar 26 quarter, −93.2% year on year. Full-year FY26 profit was ₹41.0 Cr. The operating margin ran 12.0% in the latest quarter. — as of 24 July 2026.
What is Ind-Swift Laboratories Ltd's market cap?
Ind-Swift Laboratories Ltd's market capitalisation is ₹1,978 Cr at a share price of ₹231. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Ind-Swift Laboratories Ltd's P/E ratio?
Ind-Swift Laboratories Ltd trades at a P/E of 40.0×, at the 99th percentile of its own 8-year range, against a long-run median of 15.9×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Ind-Swift Laboratories Ltd pay a dividend?
No — Ind-Swift Laboratories Ltd has recorded a dividend payout of 0% of profit in each of its last 13 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.
Is Ind-Swift Laboratories Ltd overvalued?
On its own history, Ind-Swift Laboratories Ltd looks expensive against its own history: its P/E of 40.0× sits at the 99th percentile of its 8-year range (long-run median 15.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Ind-Swift Laboratories Ltd growing?
Yes — Ind-Swift Laboratories Ltd is growing: latest-quarter revenue +23.2% year on year, profit −93.2%, and the margin +19.0 pp at 12.0%. The earnings engine currently reads: improving — as of 24 July 2026.
How is Ind-Swift Laboratories Ltd performing?
Ind-Swift Laboratories Ltd is in a confirmed uptrend, 23 weeks in. Its latest quarter's revenue rose 23.2% and profit fell 93.2% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 14 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is Ind-Swift Laboratories Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 23 of stage 2), trading +62.6% versus its 200-day average and at 90% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Ind-Swift Laboratories Ltd beating the market?
On recent form, yes — Ind-Swift Laboratories Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +545% against the NIFTY 500's +280% — ahead of the index over the full window. — as of 24 July 2026.
Will Ind-Swift Laboratories Ltd's share price go up?
This page publishes no price forecast for Ind-Swift Laboratories Ltd. What it measures instead: the share price is ₹231, the price is in a confirmed uptrend 23 weeks in. Its P/E of 40.0× sits at the 99th percentile of its own 8-year range. — as of 24 July 2026.
Who owns Ind-Swift Laboratories Ltd?
Promoters hold 42.9% of Ind-Swift Laboratories Ltd, foreign institutions 10.7%, domestic institutions 0.2% and the public 46.2% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 10.0 points over 8 quarters. — as of 24 July 2026.
Does Ind-Swift Laboratories Ltd have too much debt?
No — Ind-Swift Laboratories Ltd's debt-to-equity is 0.01, and operating profit covers the interest bill 45×. FY26 borrowings were ₹18.0 Cr against equity of ₹1,384 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Ind-Swift Laboratories Ltd's capex?
Ind-Swift Laboratories Ltd spent ₹−171 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹74.0 Cr, with ₹10.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Ind-Swift Laboratories Ltd's cash flow?
Ind-Swift Laboratories Ltd generated ₹−70.0 Cr of operating cash flow in FY26 and ₹−144 Cr of free cash flow after ₹74.0 Cr of capital spending. Reported profit that year was ₹41.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Ind-Swift Laboratories Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −36% of Ind-Swift Laboratories Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−70.0 Cr against reported profit of ₹41.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Ind-Swift Laboratories Ltd in its business cycle?
Ind-Swift Laboratories Ltd's FY26 operating margin was 7.0%, against a 13-year band of −3.0%–21.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 12.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Ind-Swift Laboratories Ltd story?
The sharpest disagreement: profits are rising, but only −36% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Ind-Swift Laboratories Ltd a stock worth studying right now?
This is not investment advice. The machine read: Ind-Swift Laboratories Ltd's price has outrun its earnings. +116.5% in a year against EPS −88.5% — the market is paying now for delivery later. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.