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Ind-Swift Laboratories (INDSWFTLAB)₹349.05+3.59%Pharmaceuticals
In the Sep 2026 quarter (consolidated), Ind-Swift Laboratories reported sales of ₹240 Cr, up 51.1% from Sep 2025, and net profit of ₹33.97 Cr, up 325.2% year on year. For the year to Mar 2026, sales were ₹649 Cr and net profit ₹42.94 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 288 | 529 | 32.96 | 11.99 | 129 | 138 | 153 | 159 | 151 | 170 | 191 | 240 |
| Expenses | 236 | 437 | 43.02 | 23.99 | 135 | 147 | 149 | 151 | 147 | 149 | 158 | 195 |
| Operating Profit | 51.96 | 90.91 | −9.99 | −12.01 | −7.01 | −8.99 | 3.99 | 6.99 | 3.99 | 20.99 | 32.99 | 44.99 |
| OPM % | 18.0% | 17.0% | −29.0% | −99.0% | −5.0% | −7.0% | 2.4% | 4.7% | 2.8% | 12.0% | 17.0% | 19.0% |
| Other Income | 7.01 | 459 | 11.01 | 13.03 | 16.03 | 220 | 15.02 | 12.02 | 22.03 | −3.01 | 7.01 | 7.01 |
| Interest | 21.03 | 3.01 | 0.00 | 0.00 | 10.02 | −27.06 | 1.01 | 2.01 | 1.01 | −2.01 | 1.01 | 1.01 |
| Depreciation | 14.02 | 20.01 | 0.00 | 0.00 | 6.01 | 7.01 | 7.01 | 7.01 | 9.01 | 8.01 | 8.01 | 8.01 |
| Profit before tax | 24.02 | 527 | 1.01 | 1.01 | −7.01 | 230 | 10.01 | 10.01 | 16.02 | 12.02 | 33.07 | 43.05 |
| Tax % | 19.0% | 6.0% | −3.0% | 31.0% | −16.0% | 4.0% | 17.0% | 22.0% | 42.0% | −26.0% | 25.0% | 21.0% |
| Exceptional items | 0.00 | 354 | 0.00 | 0.00 | −0.99 | 205 | 0.00 | 0.00 | −2.99 | −3.99 | 0.00 | 0.00 |
| Net Profit | 18.99 | 494 | 0.99 | 0.00 | −4.99 | 222 | 8.99 | 7.99 | 9.99 | 14.98 | 24.98 | 33.97 |
| EPS (Rs) | 3.28 | 83.51 | 0.15 | 0.06 | −0.94 | 36.64 | 1.44 | 0.99 | 1.16 | 1.75 | 2.83 | 3.93 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 653 | 715 | 765 | 757 | 780 | 890 | 1,039 | 1,205 | 1,280 | 574 | 649 | 752 |
| Expenses | 546 | 609 | 631 | 630 | 635 | 709 | 837 | 979 | 1,028 | 581 | 602 | 649 |
| Operating Profit | 107 | 106 | 134 | 126 | 144 | 183 | 202 | 229 | 252 | −6.99 | 46.99 | 103 |
| OPM % | 16.0% | 15.0% | 18.0% | 17.0% | 19.0% | 21.0% | 19.0% | 19.0% | 20.0% | −1.2% | 7.0% | 13.7% |
| Other Income | 1.01 | 15.02 | 16.03 | 120 | 33.05 | 23.05 | 37.07 | 7.01 | 435 | 293 | 36.08 | 33.04 |
| Interest | 106 | 88.16 | 28.05 | 92.21 | 107 | 100 | 96.14 | 92.17 | 51.14 | 3.01 | 1.01 | 1.02 |
| Depreciation | 85.07 | 88.16 | 87.03 | 104 | 90.08 | 87.14 | 131 | 57.08 | 53.02 | 24.01 | 31.05 | 33.04 |
| Profit before tax | −83.17 | −55.09 | 36.06 | 50.09 | −20.04 | 18.02 | 13.01 | 87.07 | 583 | 258 | 51.10 | 104 |
| Tax % | −29.0% | −29.0% | 39.0% | 42.0% | 7.0% | 117.0% | 117.0% | 45.0% | 28.0% | 3.0% | 15.0% | — |
| Exceptional items | −12.96 | −4.99 | −0.99 | 65.89 | 0.00 | 0.00 | −2.99 | −13.98 | 279 | 230 | −7.98 | −6.98 |
| Net Profit | −58.90 | −38.94 | 21.95 | 28.98 | −20.99 | −2.99 | −1.99 | 47.97 | 421 | 250 | 42.94 | 83.92 |
| EPS (Rs) | −14.32 | −8.74 | 4.86 | 6.08 | −3.58 | −0.52 | −0.35 | 8.05 | 71.20 | 41.28 | 4.98 | 9.67 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42.11 | 42.08 | 45.07 | 46.05 | 48.08 | 60.09 | 60.10 | 60.12 | 60.11 | 59.01 | 69.11 | 87.17 |
| Reserves | 553 | 476 | 486 | 507 | 540 | 581 | 544 | 541 | 621 | 871 | 1,103 | 1,296 |
| Borrowings | 1,414 | 1,457 | 1,243 | 1,082 | 1,148 | 1,031 | 1,006 | 952 | 862 | 16.97 | 32.99 | 18.01 |
| Other Liabilities | 237 | 241 | 364 | 388 | 189 | 197 | 210 | 246 | 279 | 216 | 231 | 271 |
| Total Liabilities | 2,246 | 2,216 | 2,138 | 2,024 | 1,925 | 1,869 | 1,819 | 1,799 | 1,822 | 1,163 | 1,436 | 1,672 |
| Fixed Assets | 1,121 | 1,103 | 1,045 | 937 | 917 | 846 | 756 | 632 | 589 | 8.02 | 274 | 305 |
| CWIP | 113 | 78.16 | 70.20 | 69.18 | 20.05 | 11.03 | 19.06 | 10.03 | 8.03 | 0.00 | 0.00 | 12.04 |
| Investments | 18.03 | 18.04 | 18.02 | 18.04 | 19.04 | 17.03 | 36.08 | 29.06 | 30.08 | 111 | 213 | 248 |
| Other Assets | 995 | 1,017 | 1,004 | 1,000 | 970 | 995 | 1,009 | 1,127 | 1,196 | 1,044 | 949 | 1,108 |
| Inventories | 348 | 356 | 345 | 317 | 318 | 343 | 377 | 428 | 439 | 10.01 | 114 | 148 |
| Trade receivables | 390 | 373 | 358 | 409 | 352 | 397 | 433 | 456 | 507 | 170 | 166 | 200 |
| Cash & equivalents | 19.93 | 22.92 | 15.96 | 8.98 | 29.90 | 10.98 | 11.96 | 20.94 | 17.94 | 431 | 424 | 429 |
| Total Assets | 2,246 | 2,216 | 2,138 | 2,024 | 1,925 | 1,869 | 1,819 | 1,799 | 1,822 | 1,163 | 1,436 | 1,672 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 98.29 | 79.23 | 96.29 | 73.25 | −64.20 | 125 | 136 | 150 | 196 | −164 | −29.10 | −68.20 |
| Cash from investing activity | −34.96 | −28.99 | −30.96 | −16.99 | −11.99 | −8.99 | −9.99 | 4.99 | −12.99 | −104 | −113 | −68.99 |
| Cash from financing activity | −63.88 | −47.91 | −68.83 | −61.87 | 99.73 | −133 | −124 | −141 | −186 | 698 | 71.82 | 142 |
| Net cash flow | −1.01 | 3.01 | −4.01 | −6.01 | 23.04 | −17.01 | 1.01 | 14.02 | −4.01 | 431 | −69.08 | 5.01 |
| Capex | 38.84 | 35.89 | 31.88 | 20.93 | 14.95 | 10.97 | 3.98 | 17.95 | 12.95 | 44.87 | 63.82 | 87.73 |
| Free cash flow | 59.04 | 49.01 | 63.02 | 51.99 | −79.06 | 114 | 131 | 137 | 182 | −205 | −54.01 | −155 |
| CFO / OP % | 111.0% | 74.0% | 90.0% | 53.9% | −51.1% | 87.0% | 73.0% | 74.0% | 85.0% | −65.0% | 322.9% | −131.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 215 | 208 | 182 | 194 | 169 | 186 | 177 | 160 | 153 | 48 | 105 | 112 |
| Inventory days | 312 | 368 | 305 | 291 | 284 | 313 | 301 | 288 | 242 | 6 | 145 | 187 |
| Days payable | 120 | 137 | 91 | 118 | 114 | 123 | 111 | 118 | 113 | 52 | 140 | 185 |
| Cash conversion cycle | 408 | 440 | 397 | 368 | 340 | 376 | 368 | 331 | 283 | 3 | 111 | 115 |
| Working capital days | 140 | −27 | −98 | −50 | 216 | 247 | 252 | 252 | 233 | 1 | 114 | 155 |
| ROCE % | 1.0% | 2.0% | 2.0% | 4.0% | 4.0% | 5.0% | 7.0% | 7.0% | 13.0% | 20.0% | 3.0% | 5.0% |
For the Sep 2026 quarter, Ind-Swift Laboratories reported sales of ₹240 Cr, up 51.1% year on year and net profit of ₹33.97 Cr, up 325.2% year on year. The operating margin was 19.0%.
Ind-Swift Laboratories' sales for the year to Mar 2026 were ₹649 Cr; over the last twelve months they were ₹752 Cr.
Net profit for the year to Mar 2026 was ₹42.94 Cr, and ₹83.92 Cr over the last twelve months. Earnings per share over the same trailing period were ₹9.67.
Ind-Swift Laboratories reported borrowings of ₹18.01 Cr at Mar 2026, against cash and equivalents of ₹429 Cr.
Cash from operations was −₹68.20 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹155 Cr.