Windlas Biotech Ltd
WINDLASWindlas Biotech Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the P/E sits at the 96th percentile of its own range — the multiple has already done part of the work.
The price is in a confirmed uptrend (6 weeks in) while the P/E sits at the 96th percentile of its own 5-year range. Underneath, the last four quarters read mixed — profit +0.0% year on year, and 152% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
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.
Windlas Biotech Ltd trades at ₹1,129, in a confirmed uptrend and 6 weeks into that stage. That is +28.5% against its own 200-day average. It sits at 100% of a 52-week range of ₹723 to ₹1,129. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 12 straight weeks.
Today the stock is in a confirmed uptrend — week 6 of stage 2, confirmed. At ₹1,129 it trades +28.5% versus its 200-day average and sits at 100% of its 52-week range (₹723–₹1,129).
Against the market, two honest reads. Cumulative: over the last 5.1 years the stock moved +208% while the NIFTY 500 moved +62% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 12 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.
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.
Windlas Biotech Ltd trades at 35.1× P/E, at the pricey end of its own range (96th percentile). Its long-run median P/E is 21.8×, measured across 5.1 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 35.1× is at the pricey end of its own range (96th percentile), against a long-run median of 21.8× measured over 5.1 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 +8.2% against a +13.7% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +24.0%/yr price move, ~−8.4%/yr came from earnings growth and ~+32.4 pp from the multiple (expanding). 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.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 13 June 2026 price, Windlas Biotech Ltd was paying for profit growth of about 15.5% a year. Profit itself has compounded 25.1% a year over the past 8 years. Today the market pays 35.1× P/E, the 96th percentile of its own 5-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is below what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Mixed 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).
Windlas Biotech Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 16.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
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.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +18.9% | +20.8% | +16.1% | — |
| Profit | +8.2% | +15.4% | +32.8% | — |
| EPS | +8.2% | +16.3% | +5.0% | — |
| Share price | +13.7% | +44.3% | +24.0% | — |
4-Factor Sector Score
53.5/100 — rank 10 of 24 in Pharma - API & CRAMS · 77% evidence confidence
Windlas Biotech Ltd scores 53.5 out of 100 against the 24 companies it is compared with in Pharma - API & CRAMS, ranking 10. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 16.7 + 14.5 + 11.5 + 10.8 = 53.5. 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.
Windlas Biotech Ltd reported ₹238 Cr of revenue in the Mar 26 quarter, +17.2% year on year. That is the 10th straight quarter of year-on-year growth. Over 8 years it has compounded at 12.5% a year. The last full year, FY26, came in at ₹904 Cr. The last four reported quarters add to ₹903 Cr.
FY26 revenue came in at ₹904 Cr (+18.9% on the year), capping 8 years at 12.5% compound. The latest quarter (Mar 26) printed ₹238 Cr, +17.2% year on year — the 10th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +18.9% growth against the decade's 12.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +18.8% over the last 4 quarters against +19.6%/yr over the last 8 — stabilising; TTM profit +9.8% vs +7.5%/yr — stabilising.
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.
Windlas Biotech Ltd's operating margin is 11.0% in the Mar 26 quarter, −2.0 percentage points against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 10.0% to 13.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 11.0%, −2.0 pp against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 10.0%–13.0%.
🚨 Why the margin moved: operating margin went −2.0 pp year on year while gross margin went +0.1 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Windlas Biotech Ltd earned ₹16.0 Cr of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY26 profit was ₹66.0 Cr. The 8-year compound rate is 25.1%. That is 6.7% of the quarter's revenue. The same quarter a year earlier earned ₹16.0 Cr.
Mar 26 profit was ₹16.0 Cr, +0.0% year on year. On the full year, FY26 printed ₹66.0 Cr (+8.2%), and the 8-year compound rate is 25.1%.
🚨 Why profit moved: revenue contributed +17.2% and the margin −2.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +11.2% vs revenue +18.9%. Profit is growing slower than sales — costs are eating the growth before it reaches 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 152% of Windlas Biotech Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹105 Cr of operating cash against ₹66.0 Cr of profit. After ₹76.0 Cr of capital spending, ₹29.0 Cr was left as free cash.
FY26: operating cash of ₹105 Cr against reported profit of ₹66.0 Cr, leaving free cash of ₹29.0 Cr after ₹76.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 152% 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 152%: the cash cycle tightened 94 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).
Windlas Biotech Ltd's cash conversion cycle runs −24 days in FY26, down from 70 days in FY21. Capital spending ran ₹221 Cr over the last 3 years. At FY26 sales of ₹904 Cr each day of that cycle holds about ₹2.5 Cr, so roughly ₹−59.0 Cr sits inside the business at any moment.
FY26: debtors at 92 days, inventory at 40 days — roughly 1.3 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 70.
The full loop: cash goes out to suppliers and production on day 0; stock waits 40 days to sell; customers pay about 92 days after that; and suppliers themselves are paid at 156 days — netting out to the −24-day cycle.
In money terms: at FY26 sales of ₹904 Cr, each day of the cycle holds about ₹2.5 Cr — so the −24-day loop keeps roughly ₹−59.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹221 Cr over the last 3 fiscal years against ₹72.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹60.0 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.⚠ unverified
Windlas Biotech Ltd earns a ROCE of 16% in FY26. That is up from a trough of 12% in FY20. Return on invested capital clears the cost of that capital by +4.9 percentage points, so growth here adds value rather than only size. The wiring behind it is 7.3% net margin on 1.00× asset turns.
FY26 ROCE is 16%, recovered from a FY20 trough of 12% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 7.3% net margin × 1.00× asset turns × 1.56× balance-sheet leverage ≈ 11.4% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 16.9% − 12.0% = a +4.9 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.⚠ unverified
Windlas Biotech Ltd carries total debt of ₹35.0 Cr against shareholder equity of ₹581 Cr as of Mar 26, a debt-to-equity of 0.06 — effectively unlevered. On the annual view that ratio went from 0.02 in FY22 to 0.06 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹35.0 Cr against shareholder equity of ₹581 Cr — a debt-to-equity of 0.06. On the annual view, debt-to-equity went from 0.02 (FY22) to 0.06 (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.
No holder of Windlas Biotech Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved +0.3 points over the same window, to 9.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +0.8 points over 8 quarters to 63.3%; Domestic institutions: +0.3 points over 8 quarters to 9.8%; Foreign institutions: +0.0 points over 8 quarters to 2.0%.
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.
Windlas Biotech 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 | 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 LtdSAILIFE | 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 Ltdthis pageWINDLAS | 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 Windlas Biotech Ltd's share price today?
Windlas Biotech Ltd trades at ₹1,129, +13.7% over the past year. The company is valued at ₹2,330 Cr. The stock sits at the very top of its 52-week range (₹723–₹1,129), +28.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 6 weeks in. — as of 11 September 2026.
What were Windlas Biotech Ltd's latest quarterly results?
Windlas Biotech Ltd reported revenue of ₹238 Cr and net profit of ₹16.0 Cr for the Mar 26 quarter. Revenue rose 17.2% and profit rose 0.0% year on year. Earnings per share were ₹7.58. The operating margin was 11.0%, 2.0 pp lower than a year earlier. — as of 11 September 2026.
What is Windlas Biotech Ltd's revenue?
Windlas Biotech Ltd reported revenue of ₹238 Cr in the Mar 26 quarter, +17.2% year on year. For the full FY26 fiscal year, revenue was ₹904 Cr (+18.9%). Over the last 8 years revenue compounded at 12.5% a year. — as of 11 September 2026.
What is Windlas Biotech Ltd's profit?
Windlas Biotech Ltd earned ₹16.0 Cr of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY26 profit was ₹66.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 11 September 2026.
What is Windlas Biotech Ltd's market cap?
Windlas Biotech Ltd's market capitalisation is ₹2,330 Cr at a share price of ₹1,129. 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 Windlas Biotech Ltd's P/E ratio?
Windlas Biotech Ltd trades at a P/E of 35.1×, at the 96th percentile of its own 5-year range, against a long-run median of 21.8×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Windlas Biotech Ltd pay a dividend?
Yes — Windlas Biotech Ltd's dividend payout was 20% of profit in FY26, and it recorded a payout in 5 of its last 9 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Windlas Biotech Ltd overvalued?
On its own history, Windlas Biotech Ltd looks expensive: its P/E of 35.1× sits at the 96th percentile of its 5-year range (long-run median 21.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Windlas Biotech Ltd growing?
The picture is mixed for Windlas Biotech Ltd: latest-quarter revenue +17.2% year on year, profit +0.0%, and the margin −2.0 pp at 11.0%. The 8-year compound rates are 12.5% (revenue) and 25.1% (profit). The earnings engine currently reads: mixed — as of 11 September 2026.
How is Windlas Biotech Ltd performing?
Windlas Biotech Ltd is in a confirmed uptrend, 6 weeks in. Its latest quarter's revenue rose 17.2% and profit rose 0.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 12 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Windlas Biotech Ltd in?
Mixed — no clean majority across the growth curves, ROCE holding at 16.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +17.2% latest, profit growth +0.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Windlas Biotech Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 6 of stage 2), trading +28.5% 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 Windlas Biotech Ltd beating the market?
On recent form, yes — Windlas Biotech Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 12 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.1 years the stock moved +208% against the NIFTY 500's +62% — ahead of the index over the full window. — as of 11 September 2026.
Will Windlas Biotech Ltd's share price go up?
This page publishes no price forecast for Windlas Biotech Ltd. What it measures instead: the share price is ₹1,129, the price is in a confirmed uptrend 6 weeks in. Its P/E of 35.1× sits at the 96th percentile of its own 5-year range. — as of 11 September 2026.
Who owns Windlas Biotech Ltd?
Promoters hold 63.3% of Windlas Biotech Ltd, foreign institutions 2.0%, domestic institutions 9.8% and the public 24.8% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.
Does Windlas Biotech Ltd have too much debt?
No — Windlas Biotech Ltd's debt-to-equity is 0.06, and operating profit covers the interest bill 21×. FY26 borrowings were ₹35.0 Cr against equity of ₹581 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Windlas Biotech Ltd's capex?
Windlas Biotech Ltd spent ₹221 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 ₹76.0 Cr, with ₹60.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Windlas Biotech Ltd's cash flow?
Windlas Biotech Ltd generated ₹105 Cr of operating cash flow in FY26 and ₹29.0 Cr of free cash flow after ₹76.0 Cr of capital spending. Reported profit that year was ₹66.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Windlas Biotech Ltd's profit real cash?
Yes — over the last 3 fiscal years, 152% of Windlas Biotech Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹105 Cr against reported profit of ₹66.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Windlas Biotech Ltd in its business cycle?
Windlas Biotech Ltd's FY26 operating margin was 12.0%, against a 9-year band of 10.0%–13.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Windlas Biotech Ltd's price assume?
At its price on 13 June 2026, Windlas Biotech Ltd was priced for profit growth of about 15.5% a year. Profit itself has compounded 25.1% a year over the past 8 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Windlas Biotech Ltd story?
Biggest watch item: the P/E sits at the 96th percentile of its own range — the multiple has already done part of the work. 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 Windlas Biotech Ltd a stock worth studying right now?
This is not investment advice. The machine read: Windlas Biotech Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. 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 !!