Windlas Biotech Ltd. (WINDLAS) AI Stock Analysis

• Market Cap: ₹15.88B
• Dividend Yield: 0.71%
• Average Volume (3M): 3.48K
• Price to Earnings (P/E): 23.4
• Beta (1Y): 0.83
• Revenue Growth: 19.34%
• EPS Growth: 9.32%
• Country: IN
• Employees: 1,154
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 8.48
• Shares Outstanding: 21,136,883
• 10 Day Avg. Volume: 3,282
• 30 Day Avg. Volume: 3,478
• PEG Ratio: 8.12
• Price to Book (P/B): 4.20
• Price to Sales (P/S): 2.80
• P/FCF Ratio: 132.80
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ₹902.00 ▲(14.46% Upside)

Windlas Biotech Ltd. has a strong financial foundation with impressive revenue growth and profitability, which is the most significant factor in its overall score. However, technical analysis indicates bearish market momentum, and the valuation suggests potential overvaluation, which dampens the overall score. The absence of recent earnings call insights or notable corporate events means these factors do not influence the score.

Positive Factors

Revenue Growth

The company shows consistent revenue growth, reflecting its ability to expand market reach and product adoption, which is crucial for long-term sustainability.

Balance Sheet Health

A strong balance sheet with low leverage ensures financial stability and flexibility, allowing the company to invest in growth opportunities and weather economic downturns.

Profitability Metrics

Improved profitability metrics suggest effective cost management and operational efficiency, enhancing the company's ability to generate sustainable earnings over time.

Negative Factors

Fluctuating Free Cash Flow

Volatility in free cash flow can impact the company's ability to fund operations and growth initiatives consistently, posing a risk to financial stability.

Moderate EBIT Margin Growth

Moderate EBIT margin growth indicates room for improvement in operational efficiency, which is necessary to enhance profitability and competitive positioning.

Increase in Total Liabilities

An increase in liabilities, even if slight, can strain the balance sheet and limit financial flexibility, potentially impacting long-term financial health.

Windlas Biotech Ltd. Business Overview & Revenue Model

Company Description

Windlas Biotech Limited operates as a contract development and manufacturing organization (CDMO). Its CDMO services include product discovery, product development, licensing, and commercial manufacturing generic products, including generic products. The company provides its CMDO products and services across a range of pharmaceutical and nutraceutical conventional, and novel products for customers who market such products under their own brand names to the end users. It also offers manufactures various domestic trade generics and over-the-counter brand product portfolio to cater to nutritional, ayurvedic, wellness, and personal care markets. The company's domestic trade generics and OTC brands products are distributed through the offline channel, such as distributors, stockists, retail pharmacies, and institutional tenders, as well as the online channel, such as various e-commerce platforms. It exports its products primarily to Vietnam, Myanmar, Sri Lanka, Thailand, the Philippines, Cambodia, Fiji, Trinidad & Tobago, and South Africa. The company was incorporated in 2001 and is based in Gurugram, India.

How the Company Makes Money

Windlas Biotech generates revenue through multiple key channels, primarily focusing on the sale of its pharmaceutical products, including generic and branded medications. The company's revenue model is anchored in the production of a wide array of formulations, which are sold to hospitals, pharmacies, and distributors. Additionally, Windlas engages in contract manufacturing for other pharmaceutical companies, providing a substantial revenue stream as it leverages its manufacturing capabilities. Strategic partnerships with various healthcare entities and a strong presence in both domestic and international markets further enhance its earnings potential. Factors contributing to its financial performance include the increasing demand for affordable medications, the expansion of its product offerings, and the company's commitment to quality and regulatory compliance, which enables it to maintain a competitive edge in the pharmaceutical sector.

Windlas Biotech Ltd. Financial Statement Overview

Summary

Windlas Biotech Ltd. demonstrates strong financial health with impressive revenue growth and profitability metrics. The balance sheet is solid, with low leverage and high equity, ensuring financial stability. Cash flows are generally healthy, though fluctuations in free cash flow growth should be monitored.

Income Statement

Windlas Biotech Ltd. has shown strong revenue growth over the years with a significant increase from 2024 to 2025. The gross profit margin and EBITDA margin have also improved, indicating efficient cost management and operational performance. The net profit margin is solid, reflecting profitability. However, EBIT margin growth is moderate, suggesting potential areas for operational efficiency improvement.

Balance Sheet

The company maintains a healthy balance sheet with a strong equity position, as evidenced by a favorable equity ratio. The debt-to-equity ratio is low, pointing towards conservative leverage, which limits financial risk. Return on equity is commendable, reflecting effective utilization of shareholder funds. However, the slight increase in total liabilities warrants careful monitoring.

Cash Flow

The cash flow statement shows robust operating cash flow, though there has been a decline from the previous year. Free cash flow remains positive, indicating surplus cash generation. The operating cash flow to net income ratio suggests strong cash earnings quality, although free cash flow growth has been fluctuating, highlighting potential volatility in cash availability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.95B	7.60B	6.29B	5.11B	4.63B	4.27B
Gross Profit	3.03B	2.88B	2.28B	1.81B	1.61B	1.52B
EBITDA	1.19B	1.12B	916.40M	701.91M	591.29M	361.68M
Net Income	651.79M	609.94M	581.87M	426.26M	380.89M	158.32M
Balance Sheet
Total Assets	0.00	7.60B	6.26B	5.29B	4.91B	2.96B
Cash, Cash Equivalents and Short-Term Investments	2.39B	2.40B	2.04B	1.32B	1.76B	542.55M
Total Debt	0.00	325.97M	36.41M	49.93M	66.37M	323.49M
Total Liabilities	-5.06B	2.55B	1.76B	1.27B	962.33M	970.04M
Stockholders Equity	5.06B	5.06B	4.50B	4.02B	3.95B	1.99B
Cash Flow
Free Cash Flow	0.00	159.93M	712.76M	-99.25M	-56.74M	56.07M
Operating Cash Flow	0.00	681.87M	1.09B	609.65M	91.30M	114.54M
Investing Cash Flow	0.00	-740.64M	-920.68M	-141.10M	-1.55B	-201.98M
Financing Cash Flow	0.00	10.13M	-152.90M	-437.39M	1.30B	7.76M

Windlas Biotech Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 788.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WINDLAS, the sentiment is Negative. The current price of 788.05 is above the 20-day moving average (MA) of 780.86, below the 50-day MA of 807.22, and below the 200-day MA of 916.89, indicating a bearish trend. The MACD of -8.61 indicates Positive momentum. The RSI at 38.70 is Neutral, neither overbought nor oversold. The STOCH value of 24.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WINDLAS.

Windlas Biotech Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SAKAR	66 Neutral	₹8.34B	43.00	―	―	24.20%	55.01%
SMSPHARMA	65 Neutral	₹31.79B	35.37	―	0.13%	11.91%	36.92%
WINDLAS	62 Neutral	₹15.88B	23.38	―	0.71%	19.34%	9.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BAJAJHCARE	51 Neutral	₹12.50B	27.27	―	0.24%	13.04%	―
INDOCO	40 Neutral	₹20.18B	-18.25	―	0.08%	-2.81%	-444.69%

Windlas Biotech Ltd. Corporate Events

Windlas Biotech Schedules Investor and Analyst Meetings for December 2025

Windlas Biotech Ltd. announced its schedule for upcoming meetings with investors and analysts, which are set to take place in December 2025. These meetings, involving prominent research and fund houses such as Fidelity International and Laburnum Capital, indicate the company’s proactive approach in engaging with stakeholders and maintaining transparency. The discussions will be based on publicly available documents, reflecting the company’s commitment to compliance and open communication.