Windlas Biotech Ltd. (IN:WINDLAS)
:WINDLAS
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Windlas Biotech Ltd.
(WINDLAS)
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Rating:64Neutral
Price Target:
₹847.00
▲(7.48% Upside)
Action:Downgraded
Date:05/25/26
Score is driven primarily by solid fundamentals and a conservatively financed balance sheet, tempered by cash-flow volatility and FY2026 margin compression. Technical signals are currently weak and valuation is only moderate with a low dividend yield.
Positive Factors
Conservative Balance Sheet
Very low leverage (debt-to-equity ~0.06) and steadily increasing equity provide a conservatively financed balance sheet, reducing refinancing and solvency risk. This financial flexibility supports capital spending, acquisitions, and resilience through industry cycles over months to years.
Negative Factors
Gross Margin Compression
FY2026 gross margin collapsed to ~18% from prior ~36%–38%, a material hit to core profitability. If persistent, this suggests sustained pricing pressure, rising input costs, or adverse product mix that could erode operating margins and weaken earnings quality over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage (debt-to-equity ~0.06) and steadily increasing equity provide a conservatively financed balance sheet, reducing refinancing and solvency risk. This financial flexibility supports capital spending, acquisitions, and resilience through industry cycles over months to years.
Read all positive factors
Windlas Biotech Ltd. (WINDLAS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹17.18B
Dividend Yield0.71%
Average Volume (3M)3.48K
Price to Earnings (P/E)26.2
Beta (1Y)0.78
Revenue Growth18.98%
EPS Growth8.30%
CountryIN
Employees1,154
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)32.15
Shares Outstanding21,165,873
10 Day Avg. Volume3,282
30 Day Avg. Volume3,478
Financial Highlights & Ratios
PEG Ratio2.80
Price to Book (P/B)2.67
Price to Sales (P/S)1.71
P/FCF Ratio45.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Windlas Biotech Ltd. Business Overview & Revenue Model
Company Description
Windlas Biotech Limited functions as a comprehensive contract development and manufacturing organization (CDMO). Its CDMO offerings span the full product lifecycle, encompassing initial discovery, subsequent development, licensing, and large-scale...
How the Company Makes Money
Windlas Biotech makes money primarily by providing contract manufacturing and related services to pharmaceutical companies and brand owners. Key revenue streams typically include: (1) CDMO/contract manufacturing of finished dosage forms: clients o...
Windlas Biotech Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.30B | 9.04B | 7.60B | 6.29B | 5.11B | 4.63B |
| Gross Profit | 3.18B | 1.64B | 2.88B | 2.28B | 1.81B | 1.61B |
| EBITDA | 1.23B | 1.05B | 1.12B | 916.40M | 701.91M | 591.29M |
| Net Income | 673.21M | 664.56M | 609.94M | 581.87M | 426.26M | 380.89M |
Balance Sheet | ||||||
| Total Assets | 8.14B | 9.07B | 7.60B | 6.26B | 5.29B | 4.91B |
| Cash, Cash Equivalents and Short-Term Investments | 2.61B | 2.70B | 2.40B | 2.04B | 1.32B | 1.76B |
| Total Debt | 312.09M | 352.42M | 325.97M | 36.41M | 49.93M | 66.37M |
| Total Liabilities | 2.80B | 3.27B | 2.55B | 1.76B | 1.27B | 962.33M |
| Stockholders Equity | 5.34B | 5.81B | 5.06B | 4.50B | 4.02B | 3.95B |
Cash Flow | ||||||
| Free Cash Flow | 265.34M | 337.68M | 159.93M | 712.76M | -99.25M | -56.74M |
| Operating Cash Flow | 559.24M | 1.01B | 681.87M | 1.09B | 609.65M | 91.30M |
| Investing Cash Flow | -437.62M | -931.15M | -740.64M | -920.68M | -141.10M | -1.55B |
| Financing Cash Flow | -123.71M | -82.06M | 10.13M | -152.90M | -437.39M | 1.30B |
Windlas Biotech Ltd. Technical Analysis
Positive
788.05
Price Trends
818.51
Positive
800.84
Positive
841.05
Negative
Market Momentum
2.08
Negative
52.74
Neutral
48.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WINDLAS, the sentiment is Positive. The current price of 788.05 is below the 20-day moving average (MA) of 805.65, below the 50-day MA of 818.51, and below the 200-day MA of 841.05, indicating a neutral trend. The MACD of 2.08 indicates Negative momentum. The RSI at 52.74 is Neutral, neither overbought nor oversold. The STOCH value of 48.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:WINDLAS.
Windlas Biotech Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹22.94B | 23.37 | ― | ― | 17.97% | 126.79% | |
73 Outperform | ₹13.05B | 17.41 | ― | ― | 4.98% | 55.05% | |
64 Neutral | ₹17.18B | 26.17 | ― | 0.71% | 18.98% | 8.30% | |
62 Neutral | ₹13.75B | 32.87 | ― | ― | 226.01% | -84.17% | |
60 Neutral | ₹25.90B | 29.70 | ― | 0.49% | -0.32% | -22.18% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
43 Neutral | ₹22.53B | -21.56 | ― | 0.08% | 10.73% | -31.79% |
* Healthcare Sector Average
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Windlas Biotech Ltd. Corporate Events
Windlas Biotech Clears FY26 Results, Proposes 126% Dividend
May 21, 2026
Windlas Biotech’s board has approved the audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026, with the statutory auditor issuing unmodified opinions on both sets of Ind-AS financial st...
Windlas Biotech shareholders approve re-appointment and new independent directors via postal ballot
Mar 20, 2026
Windlas Biotech Limited has secured shareholder approval via postal ballot for key board appointments, including the re-appointment of Ashok Kumar Windlass as whole-time director from May 3, 2026, and the appointment of Vivek Dhariwal and Gaurav G...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.