Sai Life Sciences Ltd
SAILIFESai Life Sciences Ltd's earnings have outrun its stock. EPS grew +102.0% in a year against a +81.6% price move.
The sharpest disagreement: the engine is strong, but at the 100th percentile of its own range you are paying full price for it.
The price is in a confirmed uptrend (63 weeks in) while the P/E sits at the 100th percentile of its own 1-year range. Underneath, the last four quarters read improving — profit +21.7% year on year, and 180% of the last 3 years' profit arrived as cash. What settles it: whether the earnings grow into the multiple.
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.
Sai Life Sciences Ltd trades at ₹1,585, in a confirmed uptrend and 63 weeks into that stage. That is +36.6% against its own 200-day average. It sits at 100% of a 52-week range of ₹795 to ₹1,585. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 37 straight weeks.
Today the stock is in a confirmed uptrend — week 63 of stage 2, confirmed. At ₹1,585 it trades +36.6% versus its 200-day average and sits at 100% of its 52-week range (₹795–₹1,585).
Against the market, two honest reads. Cumulative: over the last 1.7 years the stock moved +125% while the NIFTY 500 moved +2% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 37 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.
Story check
Sai Life Sciences Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: PEAK. Still open: The thesis breaks if the first Bidar block misses its stated H2 FY27 commissioning window and H2 revenue does not improve despite the added capacity.
Our read, 22 August 2026. Sai Life is converting integrated CRO/CDMO relationships into capacity-led growth, but a peak-cycle operating read and premium valuation leave little room for missed commissioning or weaker utilization.
From the numbers. The current weekly screening label is EMERGING_OPPORTUNITY at 75.9x PE with FII_BUYING, but the deterministic curve ends at 83.7x, its observed peak, and classifies the operating cycle as PEAK. The normalized-margin…
From the price. Price stage 2, week 63 — above its 200-day line, relative strength rising.
From the research. Sai Life is converting integrated CRO/CDMO relationships into capacity-led growth, but a peak-cycle operating read and premium valuation leave little room for missed commissioning or weaker utilization.
🚨 Where they disagree. The current weekly screening label is EMERGING_OPPORTUNITY at 75.9x PE with FII_BUYING, but the deterministic curve ends at 83.7x, its observed peak, and classifies the operating cycle as PEAK. The normalized-margin verdict is NA_SHORT_MARGIN_HISTORY because only about three years of OPM history are available; this limits a full through-cycle margin conclusion but does not negate the peak-cycle valuation restraint.
What is proven. Sai Life is converting integrated CRO/CDMO relationships into capacity-led growth, but a peak-cycle operating read and premium valuation leave little room for missed commissioning or weaker utilization.
What is not proven yet. The thesis breaks if the first Bidar block misses its stated H2 FY27 commissioning window and H2 revenue does not improve despite the added capacity.
🚨 What would change our mind. The thesis breaks if the first Bidar block misses its stated H2 FY27 commissioning window and H2 revenue does not improve despite the added capacity.
🚨 Layer 1 read, 22 August 2026 — DROP. Dearest the shares have ever been, while profit growth slowed from 100% to 22% — price ahead of business. Sai Life is a good contract-research and manufacturing business, but the two lines have crossed. Its earnings multiple has climbed to 83.7 times profit, the highest it has ever traded at, having risen a third over two years — while the growth behind it slowed from 100% profit growth two quarters ago to 22% now, and last quarter's sales, operating profit and pre-tax profit ALL fell compared with the quarter before. The usual defence for a high multiple, that profits are temporarily depressed, does not apply: adjusting to a normal profit margin makes the multiple higher, not lower. Management has also revised three of its own statements — when the new capacity arrives, how advanced its…
What would change Layer 1’s mind. The first Bidar block being confirmed commissioned inside the stated second-half FY27 window AND second-half revenue growth returning to at least 15% year on year — that would show the deceleration was a capacity gap being bridged rather than demand normalising, and would earn back the multiple. Running the other way, the verdict turns to a clear DROP if operating margin falls below 28% in the September 2026 quarter while revenue growth stays in single digits, because that combination would…
The test written in advance. The thesis breaks if the first Bidar block misses its stated H2 FY27 commissioning window and H2 revenue does not improve despite the added capacity. — the thesis as written as stated by the next result.
The test written in advance. Peak-cycle valuation trap — Peak-cycle valuation trap Trailing PE and normalized PE after the next two quarterly results by the next result.
The test written in advance. Capacity execution and return dilution — Capacity execution and return dilution Bidar blocks commissioned within the stated FY27 windows and capacity utilization disclosure by the next result.
What the company does. Q1 FY27 revenue and PAT rose year on year while operating margin fell from the preceding quarter, showing growth without a fresh margin step-up. The next earnings leg depends on Bidar commissioning, conversion of integrated programmes, and H2 delivery timing rather than on a further valuation re-rating. The share price discounts a demanding earnings outcome: the PE series has expanded to its observed peak, normalized PE is higher than trailing PE, and the margin-history verdict is not sufficient to establish a through-cycle margin.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Integrated customer programmes | HIGH | — | Integrated services and FTE relationships can move work from discovery into development and commercial manufacturing. | Customers retain discovery work but shift development or commercial work to other suppliers. |
| Bidar capacity commissioning | HIGH | — | The first manufacturing block is expected in H2 FY27 and the second is targeted by FY27-end; this is the near-term test of… | Commissioning slips beyond the stated FY27 windows or capacity opens without customer utilization. |
| Discovery capacity and CRO conversion | MEDIUM | — | New discovery capacity was reported sold out, supporting customer expansion into integrated CRO work. | Discovery demand normalizes before integrated programmes enter later development stages. |
| Late-stage and commercial pipeline | MEDIUM_HIGH | — | The disclosed CMC pipeline and regulatory milestones provide a route to future commercial manufacturing work. | Late-stage regulatory milestones slip or customers do not award commercial supply. |
| New-modality platform build | MEDIUM | — | Peptide, ADC, and formulation capabilities broaden the platform but remain option value rather than a base-case revenue source. | Customer validation is delayed or new-modality work remains confined to discovery. |
🚨 What the surface reading misses. The surface reading is: A high PE can appear expensive. The research reads it further: Normalized EPS is below trailing EPS, so normalization raises rather than lowers the multiple.
🚨 What the surface reading misses. The surface reading is: A 26.7% operating margin looks close to normalized profitability. The research reads it further: The normalized margin is only modestly above current margin, while normalized non-operating and earnings adjustments lower EPS.
Lever 1 · Operating leverage — BUILDING. Integrated services and FTE relationships can move work from discovery into development and commercial manufacturing. What proves it keeps working: Integrated customer programmes. It stops working if Customers retain discovery work but shift development or commercial work to other suppliers.
Lever 6 · Order-book wins — BUILDING. The first manufacturing block is expected in H2 FY27 and the second is targeted by FY27-end; this is the near-term test of capacity-led revenue delivery. What proves it keeps working: Bidar capacity commissioning. It stops working if Commissioning slips beyond the stated FY27 windows or capacity opens without customer utilization.
Lever 14 · A bigger market to sell into — BUILDING. New discovery capacity was reported sold out, supporting customer expansion into integrated CRO work. What proves it keeps working: Discovery capacity and CRO conversion. It stops working if Discovery demand normalizes before integrated programmes enter later development stages.
Lever 2 · Value-added mix — BUILDING. The disclosed CMC pipeline and regulatory milestones provide a route to future commercial manufacturing work. What proves it keeps working: Late-stage and commercial pipeline. It stops working if Late-stage regulatory milestones slip or customers do not award commercial supply.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Sai Life Sciences Ltd reported ₹554 Cr of revenue in the Jun 26 quarter, +11.7% year on year. That is the 7th straight quarter of year-on-year growth. Over 7 years it has compounded at 17.8% a year. The last full year, FY26, came in at ₹2,192 Cr. The last four reported quarters add to ₹2,249 Cr.
Why this happened. The capex inflection point can extend growth once capacity is commissioned and utilized. The May timetable placed the remaining 225 KL in FY28, whereas the August call targets the second block by FY27-end. The current schedule must therefore be treated as a monitored trigger rather than delivered capacity.
FY26 revenue came in at ₹2,192 Cr (+29.3% on the year), capping 7 years at 17.8% compound. The latest quarter (Jun 26) printed ₹554 Cr, +11.7% year on year — the 7th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +19.4% growth against the decade's 17.8% — the current year is running faster than its own long-run rate.
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.
Sai Life Sciences Ltd's operating margin is 27.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 8 fiscal years the operating margin has ranged 14.0% to 29.0%. The current quarter sits inside that band.
Why this happened. Management says integrated services cover many customers and cites a customer relationship that expanded into an end-to-end programme. This is the value-chain climb: revenue durability improves only if those programmes convert through later stages.
The latest quarter's operating margin is 27.0%, +3.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 14.0%–29.0%, and FY26's 29.0% is the top of that band — a record year.
Why the margin moved: operating margin went +2.3 pp year on year while gross margin went +2.3 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Sai Life Sciences Ltd earned ₹73.0 Cr of net profit in the Jun 26 quarter, +21.7% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹349 Cr. The 7-year compound rate is 25.0%. That is 13.2% of the quarter's revenue. The same quarter a year earlier earned ₹60.0 Cr.
Jun 26 profit was ₹73.0 Cr, +21.7% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹349 Cr (+105.3%), and the 7-year compound rate is 25.0%.
Why profit moved: revenue contributed +11.7% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +56.3% vs revenue +19.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
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 180% of Sai Life Sciences Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹509 Cr of operating cash against ₹349 Cr of profit. After ₹640 Cr of capital spending, ₹−131 Cr was left as free cash.
FY26: operating cash of ₹509 Cr against reported profit of ₹349 Cr, leaving free cash of ₹−131 Cr after ₹640 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 180% 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 180%: the cash cycle tightened 20 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 3.1× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
Sai Life Sciences Ltd's cash conversion cycle runs −24 days in FY26, down from −4 days in FY21. Capital spending ran ₹1,322 Cr over the last 3 years. At FY26 sales of ₹2,192 Cr each day of that cycle holds about ₹6.0 Cr, so roughly ₹−144 Cr sits inside the business at any moment.
FY26: debtors at 62 days, inventory at 97 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −24 days, tighter than FY21's −4.
The full loop: cash goes out to suppliers and production on day 0; stock waits 97 days to sell; customers pay about 62 days after that; and suppliers themselves are paid at 182 days — netting out to the −24-day cycle.
In money terms: at FY26 sales of ₹2,192 Cr, each day of the cycle holds about ₹6.0 Cr — so the −24-day loop keeps roughly ₹−144 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹1,322 Cr over the last 3 fiscal years against ₹425 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹270 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
Sai Life Sciences Ltd earns a ROCE of 20% in FY26. That is up from a trough of 3% in FY22. Return on invested capital clears the cost of that capital by +2.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 15.9% net margin on 0.61× asset turns.
FY26 ROCE is 20%, recovered from a FY22 trough of 3% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 15.9% net margin × 0.61× asset turns × 1.45× balance-sheet leverage ≈ 14.1% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 14.0% − 12.0% = a +2.0 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. Positive but thin — value creation with little room for error.
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.
Sai Life Sciences Ltd carries total debt of ₹288 Cr against shareholder equity of ₹2,484 Cr as of Mar 26, a debt-to-equity of 0.12 — effectively unlevered. On the annual view that ratio went from 0.95 in FY24 to 0.12 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹288 Cr against shareholder equity of ₹2,484 Cr — a debt-to-equity of 0.12. On the annual view, debt-to-equity went from 0.95 (FY24) to 0.12 (FY26). The returns on this page are earned, not borrowed.
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.
Domestic institutions added 20.8 points of Sai Life Sciences Ltd over 6 quarters, the biggest move on the register. That takes domestic institutions to 32.7% of the company. Foreign institutions moved +7.9 points over the same window, to 19.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +20.8 points over 6 quarters to 32.7%; Foreign institutions: +7.9 points over 6 quarters to 19.6%; Promoters: −0.7 points over 6 quarters to 34.5%.
Why the register moved: domestic institutions drove it (+20.8 points), alongside foreign institutions (+7.9 points) — steady accumulation by institutions reading the same numbers this page reads.
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.
Sai Life Sciences 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.
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.
Sai Life Sciences Ltd trades at 91.6× P/E, about the priciest it has ever traded. Its long-run median P/E is 64.2×, measured across 0.8 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 91.6× is about the priciest it has ever traded, against a long-run median of 64.2× measured over 0.8 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 +102.0% against a +81.6% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
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).
Sai Life Sciences 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 7 quarters across 1 curve, 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.
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 | +29.3% | +21.7% | +23.6% | — |
| Profit | +105.3% | +226.8% | +41.7% | — |
| EPS | +102.0% | — | — | — |
| Share price | +81.6% | — | — | — |
4-Factor Sector Score
62.9/100 — rank 8 of 24 in Pharma - API & CRAMS · 93% evidence confidence
Sai Life Sciences Ltd scores 62.9 out of 100 against the 24 companies it is compared with in Pharma - API & CRAMS, ranking 8. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 27.2 + 16.6 + 4.9 + 14.2 = 62.9. 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.
Said versus delivered
What Sai Life Sciences Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
🚨 Capacity Expansion Timeline Delayed · 15 May 2026. Both the Aug 2025 and Nov 2025 calls explicitly committed to completing the full 450 KL capacity addition, bringing total installed capacity to approximately 1,150 KL, by the second half of FY27 or by end of FY27 at the latest. The May 2026 call discloses that only 225 KL will come online in FY27 with the remaining 225 KL pushed to FY28, a one-year delay for half the planned new capacity that management did not specifically address or explain.
🚨 ADC Pipeline Stage Downgraded · 15 May 2026. In the Aug 2025 call, management described their ADC engagement as working on late-phase assets that are already commercial, indicating meaningful participation in advanced client ADC programs. The May 2026 call instead characterizes ADC work as adding capability on the discovery side with development-stage work to be announced later, a significant and unexplained step-back in the described maturity of their ADC involvement that would materially affect near-term revenue contribution assumptions for this modality.
Customer Concentration Rose Sharply · 15 May 2026. The Aug 2025 call disclosed top 10 customer concentration at approximately 40% based on the most recent full year data, with management across prior calls framing diversification and management of concentration as a core risk priority. The May 2026 call reveals top 10 customer concentration jumped to 54% in FY26, a 14 percentage point increase in a single year, which is inconsistent with the diversification narrative and was presented without a specific explanation for the increase.
🚨 Strategic Pivot Disclosed as Product Failure · 6 February 2026. In the November 2025 call, management framed the Veterinary API facility as a proactive "strategic entry" and a "launch" to drive long-term growth. However, in the February 2026 call, management admitted this facility was actually a defensive pivot repurposing a unit built for a failed product. Earlier call (Nov 2025): “The launch of our dedicated Veterinary API facility marks our strategic entry into the animal health segment... we see this as just the beginning of a long-term growth opportunity”. Later call (Feb 2026): “To be very candid this is a unit we had actually built for another purpose but that product did not succeed. So we”.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Neuland Laboratories LtdNEULANDLAB | 81.2/100Sector-leading setup100% evidence | LEADER | 33.6/35 Revenue 78.3% · PAT 100% · OPM change 23 pp 100% evidence | 19.9/25 ROCE 26.5% · OPM 35% 100% evidence | 12.0/20 P/E 60.7× · PEG 1.05 100% evidence | 15.7/20 RS sector 7.5% · RS bench 44.6% · 1Y 62.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 33.6 + 19.9 + 12 + 15.7 = 81.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Acutaas Chemicals LtdACUTAAS | 77.3/100Favorable setup76% evidence | 31.9/35 Revenue 41% · PAT 100% · OPM change 9 pp 95% evidence | 20.1/25 ROCE 31.6% · OPM 34% 76% evidence | 9.3/20 P/E 71.7× · PEG — 50% evidence | 16.0/20 RS sector 86.5% · RS bench 43.7% · 1Y 129.5%5 of 8 weeks ahead 70% evidence | |
| Exact sum: 31.9 + 20.1 + 9.3 + 16 = 77.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3IOL Chemicals & Pharmaceuticals LtdIOLCP | 73.0/100Favorable setup100% evidence | LEADER | 28.5/35 Revenue 18.5% · PAT 60% · OPM change 3 pp 100% evidence | 12.5/25 ROCE 11.3% · OPM 14% 100% evidence | 13.8/20 P/E 32.3× · PEG 0.66 100% evidence | 18.2/20 RS sector 37.2% · RS bench 81.2% · 1Y 100.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.5 + 12.5 + 13.8 + 18.2 = 73 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Laurus Labs LtdLAURUSLABS | 71.2/100Favorable setup93% evidence | LEADER | 32.2/35 Revenue 22.6% · PAT 100% · OPM change 8 pp 100% evidence | 18.2/25 ROCE 17.8% · OPM 32% 100% evidence | 5.3/20 P/E 97.3× · PEG 3.33 65% evidence | 15.5/20 RS sector 22.2% · RS bench 63.4% · 1Y 123.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32.2 + 18.2 + 5.3 + 15.5 = 71.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 5Gland Pharma LtdGLAND | 69.7/100Favorable setup100% evidence | LEADER | 26.4/35 Revenue 17.6% · PAT 46.4% · OPM change 3 pp 100% evidence | 13.9/25 ROCE 15.1% · OPM 27% 100% evidence | 14.2/20 P/E 42.1× · PEG 1.45 100% evidence | 15.2/20 RS sector 8.2% · RS bench 45.5% · 1Y 54.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.4 + 13.9 + 14.2 + 15.2 = 69.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Divis Laboratories LtdDIVISLAB | 65.4/100Favorable setup100% evidence | LEADER | 26.5/35 Revenue 16.4% · PAT 26.8% · OPM change 11 pp 100% evidence | 19.1/25 ROCE 22% · OPM 41% 100% evidence | 3.5/20 P/E 83.1× · PEG 3.45 100% evidence | 16.3/20 RS sector 3.2% · RS bench 39.9% · 1Y 55.1%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.5 + 19.1 + 3.5 + 16.3 = 65.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 7Shilpa Medicare LtdSHILPAMED | 63.1/100Mixed-positive evidence100% evidence | LEADER | 27.6/35 Revenue 28% · PAT 100% · OPM change 1 pp 100% evidence | 10.3/25 ROCE 10.9% · OPM 29% 100% evidence | 5.6/20 P/E 66.1× · PEG 6.86 100% evidence | 19.6/20 RS sector 60.8% · RS bench 111.5% · 1Y 127.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.6 + 10.3 + 5.6 + 19.6 = 63.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Sai Life Sciences Ltdthis pageSAILIFE | 62.9/100Mixed-positive evidence93% evidence | LEADER | 27.2/35 Revenue 17.6% · PAT 48% · OPM change 3 pp 100% evidence | 16.6/25 ROCE 19.6% · OPM 27% 100% evidence | 4.9/20 P/E 91.6× · PEG 3.46 65% evidence | 14.2/20 RS sector 12.7% · RS bench 51.7% · 1Y 84.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.2 + 16.6 + 4.9 + 14.2 = 62.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 9Granules India LtdGRANULES | 62.4/100Mixed-positive evidence100% evidence | LEADER | 26.4/35 Revenue 24.8% · PAT 38.1% · OPM change 3 pp 100% evidence | 15.8/25 ROCE 15.5% · OPM 23% 100% evidence | 10.4/20 P/E 34.7× · PEG 1.27 100% evidence | 9.8/20 RS sector 1.7% · RS bench 37.1% · 1Y 77.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.4 + 15.8 + 10.4 + 9.8 = 62.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Windlas Biotech LtdWINDLAS | 53.5/100Mixed-positive evidence77% evidence | BREAKING OUT | 16.7/35 Revenue 18.8% · PAT 9.8% · OPM change -2 pp 83% evidence | 14.5/25 ROCE 15.9% · OPM 11% 95% evidence | 11.5/20 P/E 35.1× · PEG — 50% evidence | 10.8/20 RS sector -1.8% · RS bench 34.7% · 1Y 13.7%5 of 10 weeks ahead 70% evidence |
| Exact sum: 16.7 + 14.5 + 11.5 + 10.8 = 53.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Anthem Biosciences LtdANTHEM | 53.0/100Mixed-positive evidence77% evidence | BREAKING OUT | 12.7/35 Revenue -2.1% · PAT 14.1% · OPM change 1 pp 100% evidence | 22.0/25 ROCE 30.4% · OPM 36% 100% evidence | 9.2/20 P/E 89.3× · PEG — 15% evidence | 9.1/20 RS sector -4.6% · RS bench 29.4% · 1Y 13.4%7 of 12 weeks ahead 70% evidence |
| Exact sum: 12.7 + 22 + 9.2 + 9.1 = 53 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12SMS Pharmaceuticals LtdSMSPHARMA | 48.7/100Mixed-negative evidence100% evidence | TURNING | 19.1/35 Revenue 10.2% · PAT 41.7% · OPM change 0 pp 100% evidence | 11.3/25 ROCE 13.3% · OPM 20% 100% evidence | 10.3/20 P/E 42.4× · PEG 1.53 100% evidence | 8.0/20 RS sector -2.8% · RS bench 32.7% · 1Y 96.2%2 of 12 weeks ahead 100% evidence |
| Exact sum: 19.1 + 11.3 + 10.3 + 8 = 48.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Morepen Laboratories LtdMOREPENLAB | 48.5/100Mixed-negative evidence94% evidence | BREAKING OUT | 20.3/35 Revenue 9.5% · PAT 51.6% · OPM change 8 pp 100% evidence | 8.5/25 ROCE 8.1% · OPM 14% 100% evidence | 9.7/20 P/E 54× · PEG 1.68 100% evidence | 10.0/20 RS sector -16.2% · RS bench 130.1% · 1Y 134.8%10 of 10 weeks ahead 70% evidence |
| Exact sum: 20.3 + 8.5 + 9.7 + 10 = 48.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Blue Jet Healthcare LtdBLUEJET | 46.5/100Mixed-negative evidence94% evidence | BREAKING OUT | 5.8/35 Revenue -27.5% · PAT -34.6% · OPM change -1 pp 100% evidence | 21.0/25 ROCE 26.1% · OPM 33% 100% evidence | 13.8/20 P/E 45.8× · PEG 1.39 100% evidence | 5.9/20 RS sector -39.2% · RS bench 12% · 1Y -23.6%10 of 10 weeks ahead 70% evidence |
| Exact sum: 5.8 + 21 + 13.8 + 5.9 = 46.5 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 15Supriya Lifescience LtdSUPRIYA | 45.3/100Mixed-negative evidence100% evidence | FADING | 16.1/35 Revenue 28.2% · PAT 11.2% · OPM change -11 pp 100% evidence | 17.1/25 ROCE 25.2% · OPM 25% 100% evidence | 6.9/20 P/E 36.5× · PEG 3.11 100% evidence | 5.2/20 RS sector -11.2% · RS bench 20.4% · 1Y 38.4%8 of 12 weeks ahead 100% evidence |
| Exact sum: 16.1 + 17.1 + 6.9 + 5.2 = 45.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 16Concord Biotech LtdCONCORDBIO | 37.8/100Mixed-negative evidence94% evidence | BREAKING OUT | 9.2/35 Revenue -6.7% · PAT -23.3% · OPM change 2 pp 100% evidence | 14.9/25 ROCE 17.1% · OPM 32% 100% evidence | 6.7/20 P/E 56.7× · PEG 5.67 100% evidence | 7.0/20 RS sector -23.6% · RS bench 16.4% · 1Y -9.2%10 of 10 weeks ahead 70% evidence |
| Exact sum: 9.2 + 14.9 + 6.7 + 7 = 37.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Jubilant Pharmova LtdJUBLPHARMA | 37.6/100Mixed-negative evidence93% evidence | TURNING | 11.8/35 Revenue 16.3% · PAT -23% · OPM change -4 pp 100% evidence | 6.8/25 ROCE 9% · OPM 11% 100% evidence | 13.9/20 P/E 42.1× · PEG 1.17 65% evidence | 5.1/20 RS sector -23% · RS bench 5.6% · 1Y -4.2%4 of 12 weeks ahead 100% evidence |
| Exact sum: 11.8 + 6.8 + 13.9 + 5.1 = 37.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 18Piramal Pharma LtdPPLPHARMA | 35.2/100Mixed-negative evidence71% evidence | LEADER | 13.0/35 Revenue 0.8% · PAT -80% · OPM change 3 pp 74% evidence | 1.4/25 ROCE 2.5% · OPM 9% 100% evidence | 10.0/20 P/E — · PEG — 0% evidence | 10.8/20 RS sector -10.9% · RS bench 21.1% · 1Y 5.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 13 + 1.4 + 10 + 10.8 = 35.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Solara Active Pharma Sciences LtdSOLARA | 34.7/100Adverse evidence83% evidence | TURNING | 7.9/35 Revenue 15.6% · PAT -80% · OPM change -2 pp 100% evidence | 3.8/25 ROCE 4.9% · OPM 16% 100% evidence | 8.5/20 P/E 843× · PEG — 15% evidence | 14.5/20 RS sector 1.9% · RS bench 38.7% · 1Y 12.7%8 of 12 weeks ahead 100% evidence |
| Exact sum: 7.9 + 3.8 + 8.5 + 14.5 = 34.7 · Decision use: Price leads the evidence: RS versus the benchmark is 38.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 20Hikal LtdHIKAL | 33.0/100Adverse evidence81% evidence | BREAKING OUT | 11.6/35 Revenue -5.4% · PAT -80% · OPM change 2.6 pp 74% evidence | 4.3/25 ROCE 3.5% · OPM 9.2% 100% evidence | 7.4/20 P/E 65.4× · PEG — 50% evidence | 9.7/20 RS sector -21.7% · RS bench 6.9% · 1Y -14.2%8 of 12 weeks ahead 100% evidence |
| Exact sum: 11.6 + 4.3 + 7.4 + 9.7 = 33 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21OneSource Specialty Pharma LtdONESOURCE | 27.5/100Adverse evidence71% evidence | BASING | 11.3/35 Revenue 4.3% · PAT -80% · OPM change 0 pp 74% evidence | 3.3/25 ROCE 0.6% · OPM 27% 100% evidence | 10.0/20 P/E — · PEG — 0% evidence | 2.9/20 RS sector -27.3% · RS bench -0.8% · 1Y -15%3 of 12 weeks ahead 100% evidence |
| Exact sum: 11.3 + 3.3 + 10 + 2.9 = 27.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Syngene International LtdSYNGENE | 23.6/100Adverse evidence100% evidence | BASING | 6.7/35 Revenue -3.4% · PAT -56.4% · OPM change -11.3 pp 100% evidence | 8.6/25 ROCE 10% · OPM 12.3% 100% evidence | 8.1/20 P/E 52.2× · PEG 7.87 100% evidence | 0.2/20 RS sector -44.2% · RS bench -22.8% · 1Y -41%1 of 12 weeks ahead 100% evidence |
| Exact sum: 6.7 + 8.6 + 8.1 + 0.2 = 23.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Dishman Carbogen Amcis LtdDCAL | 22.1/100Adverse evidence87% evidence | ASLEEP | 7.0/35 Revenue 0.2% · PAT -80% · OPM change -11 pp 100% evidence | 4.8/25 ROCE 3.1% · OPM 9% 100% evidence | 6.4/20 P/E 145× · PEG 2.65 65% evidence | 3.9/20 RS sector -31% · RS bench -18.6% · 1Y -39.5%3 of 10 weeks ahead 70% evidence |
| Exact sum: 7 + 4.8 + 6.4 + 3.9 = 22.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Cohance Lifesciences LtdCOHANCE | 20.6/100Adverse evidence82% evidence | BREAKING OUT | 3.0/35 Revenue -19.8% · PAT -80% · OPM change -19.7 pp 95% evidence | 6.8/25 ROCE 5.8% · OPM 0.3% 76% evidence | 5.5/20 P/E 156× · PEG — 50% evidence | 5.3/20 RS sector -33.4% · RS bench -9.2% · 1Y -52.3%6 of 12 weeks ahead 100% evidence |
| Exact sum: 3 + 6.8 + 5.5 + 5.3 = 20.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Sai Life Sciences Ltd's share price today?
Sai Life Sciences Ltd trades at ₹1,585, +81.6% over the past year. The company is valued at ₹33,664 Cr. The stock sits at the very top of its 52-week range (₹795–₹1,585), +36.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 63 weeks in. — as of 11 September 2026.
What were Sai Life Sciences Ltd's latest quarterly results?
Sai Life Sciences Ltd reported revenue of ₹554 Cr and net profit of ₹73.0 Cr for the Jun 26 quarter. Revenue rose 11.7% and profit rose 21.7% year on year. Earnings per share were ₹3.45. The operating margin was 27.0%, 3.0 pp higher than a year earlier. — as of 11 September 2026.
What is Sai Life Sciences Ltd's revenue?
Sai Life Sciences Ltd reported revenue of ₹554 Cr in the Jun 26 quarter, +11.7% year on year. For the full FY26 fiscal year, revenue was ₹2,192 Cr (+29.3%). Over the last 7 years revenue compounded at 17.8% a year. — as of 11 September 2026.
What is Sai Life Sciences Ltd's profit?
Sai Life Sciences Ltd earned ₹73.0 Cr of net profit in the Jun 26 quarter, +21.7% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹349 Cr. The operating margin ran 27.0% in the latest quarter. — as of 11 September 2026.
What is Sai Life Sciences Ltd's market cap?
Sai Life Sciences Ltd's market capitalisation is ₹33,664 Cr at a share price of ₹1,585. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Sai Life Sciences Ltd's P/E ratio?
Sai Life Sciences Ltd trades at a P/E of 91.6×, at the most expensive it has been in 1 years, against a long-run median of 64.2×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Sai Life Sciences Ltd pay a dividend?
Not in its latest year — Sai Life Sciences Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 2 of its last 8 reported fiscal years, so there is a history but no current dividend. — as of 11 September 2026.
Is Sai Life Sciences Ltd overvalued?
On its own history, Sai Life Sciences Ltd looks expensive: its P/E of 91.6× sits at the most expensive it has been in 1 years (long-run median 64.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.
Is Sai Life Sciences Ltd growing?
Yes — Sai Life Sciences Ltd is growing: latest-quarter revenue +11.7% year on year, profit +21.7%, and the margin +3.0 pp at 27.0%. The 7-year compound rates are 17.8% (revenue) and 25.0% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Sai Life Sciences Ltd performing?
Sai Life Sciences Ltd is in a confirmed uptrend, 63 weeks in. Its latest quarter's revenue rose 11.7% and profit rose 21.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 37 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
Is Sai Life Sciences Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 63 of stage 2), trading +36.6% versus its 200-day average and at the very top 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 11 September 2026.
Is Sai Life Sciences Ltd beating the market?
On recent form, yes — Sai Life Sciences Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 37 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.7 years the stock moved +125% against the NIFTY 500's +2% — ahead of the index over the full window. — as of 11 September 2026.
Will Sai Life Sciences Ltd's share price go up?
This page publishes no price forecast for Sai Life Sciences Ltd. What it measures instead: the share price is ₹1,585, the price is in a confirmed uptrend 63 weeks in. Its P/E of 91.6× sits at the 100th percentile of its own 1-year range. — as of 11 September 2026.
Who owns Sai Life Sciences Ltd?
Promoters hold 34.5% of Sai Life Sciences Ltd, foreign institutions 19.6%, domestic institutions 32.7% and the public 13.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 20.8 points over 6 quarters. — as of 11 September 2026.
Does Sai Life Sciences Ltd have too much debt?
No — Sai Life Sciences Ltd's debt-to-equity is 0.12, and operating profit covers the interest bill 16×. FY26 borrowings were ₹288 Cr against equity of ₹2,484 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Sai Life Sciences Ltd's capex?
Sai Life Sciences Ltd spent ₹1,322 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 ₹640 Cr, with ₹270 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Sai Life Sciences Ltd's cash flow?
Sai Life Sciences Ltd generated ₹509 Cr of operating cash flow in FY26 and ₹−131 Cr of free cash flow after ₹640 Cr of capital spending. Reported profit that year was ₹349 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Sai Life Sciences Ltd's profit real cash?
Yes — over the last 3 fiscal years, 180% of Sai Life Sciences Ltd's reported profit arrived as operating cash. Though the latest year ran at 146% — the trend is the thing to watch. In FY26, operating cash was ₹509 Cr against reported profit of ₹349 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Sai Life Sciences Ltd in its business cycle?
Sai Life Sciences Ltd's FY26 operating margin was 29.0%, against a 8-year band of 14.0%–29.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 27.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the Sai Life Sciences Ltd story?
The sharpest disagreement: the engine is strong, but at the 100th percentile of its own range you are paying full price for it. 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 11 September 2026.
Is Sai Life Sciences Ltd a stock worth studying right now?
This is not investment advice. The machine read: Sai Life Sciences Ltd's earnings have outrun its stock. EPS grew +102.0% in a year against a +81.6% price move. The sharpest open question: whether the earnings grow into the multiple. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!