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NSE:WINDLAS

WINDLAS BIOTECH LIMITED

Healthcare › Pharmaceuticals & Biotechnology
₹878.00
at close · 27 Oct 2026
▼ 6.80 (-0.77%)

Latest filings

  1. Independent Director Mr Vivek Dhariwal resigns effective Oct 12, 2026 · Management Changes
  2. Board changes: two new independent directors join, one resigns · Management Changes
  3. Windlas Biotech appoints two independent directors, one resigns · Management Changes
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures pharmaceutical formulations on contract for other pharma companies (CDMO), sells trade generics and institutional products in India, and exports formulations to regulated and emerging markets. The CDMO vertical is the dominant business at ₹664 crores in FY26 (+20% Y-o-Y), supplying contract development and manufacturing services to a diversified client base. Trade Generics and Institutional sales contributed ₹195 crores (+13%), while Exports grew 40% to ₹46 crores with Philippines GMP received for Plants 4 and 5 (injectables). Plant 6 reached mechanical completion and is targeted for H1 FY27 commercialisation, with a further 10–15% efficiency upside targeted on top of existing manufacturing capacity that will also include ₹100 crores of injectable capacity. Employee costs at 16.8% of revenue are the largest disclosed cost line; capex is at 7.5% of revenue with FY27 planned as maintenance capex only. The injectable facility has GLP-1 vial-filling capability being evaluated for CDMO opportunities, and Q4 FY26 was the 13th consecutive quarter of record revenue.

Operating scale
Total capacity after Plant 6
₹1,100 crores (incl. ₹100 crores injectables)H1 FY27 onwards
Top customer concentration
6.5% of revenue
Top 10 customer concentration
32% of revenue
Working capital cycle
20–25 daysLast 3 years
Consecutive record-revenue quarters
13
Net operating cash flow
₹105 croresFY26
Who pays it
Pharma companies via CDMO contracts (diversified — top 10 at 32%), Indian trade generic and institutional buyers, and overseas customers including Philippines and EU
Biggest cost
Employee costs at 16.8% of revenue (FY26)
Kind of business
Pharmaceutical contract manufacturing with growing injectables and regulated exports
Where it sits
CDMO vertical contributes ~73% of revenue; listed on NSE and BSE
Market Cap
₹1,812 Cr
P / E (TTM)
27.8×
EV / EBITDA
15.0×
Div Yield
0.67%
Growth
—·
Revenue 5y CAGR
PAT — · EBITDA —
Quality
15.7%▲
ROCE (5y median)
ROE 11.4% (5y median) · margin 13.6%
Leverage
0.05·
Debt / Equity · low
Net debt ₹29 Cr
Revenue FY22→FY26
1.9×▲
Margin −0.8 pts
₹466 Cr → ₹904 Cr
Cash conversion
1.32×▲
Operating cash ÷ profit · 5 yrs
₹352 Cr on ₹266 Cr
Moves on a normal day
1.23%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 185 Pharmaceuticals peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#74/158
P/B#84/163
ROCE#66/183
ROE#72/166
Debt / Equity#68/166
EBITDA margin#106/165
Revenue growth#76/161
Profit growth#107/158

Scorecard

Measured from the filed financials, judged against its Pharmaceuticals peers · as of FY26 — not investment advice

Strengths
Returns on capital 15.7% (5-year median)
#66 of 183 in Pharmaceuticals on the latest reported figures · up from 11.8% in FY22
Over 5 years it reported ₹266 Cr of profit and ₹352 Cr of operating cash — 1.32×
Profit is converting into cash
Concerns
Nothing flagged in the filed numbers.

Charts

How has the market priced it — with filings on the timeline?

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Peers

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from WINDLAS BIOTECH LIMITED's filed financials and exchange disclosures

What does WINDLAS BIOTECH LIMITED do?

WINDLAS BIOTECH LIMITED is a Pharmaceuticals & Biotechnology company listed on NSE and BSE, trading under the symbol WINDLAS.

Is WINDLAS BIOTECH LIMITED profitable?

Yes. Over the trailing twelve months WINDLAS BIOTECH LIMITED reported a net profit of ₹66 Cr on revenue of ₹904 Cr.

Does WINDLAS BIOTECH LIMITED pay a dividend?

Yes. The dividend yield is 0.67% at the current price. It paid out 18% of its profit as dividend in FY26.

Is WINDLAS BIOTECH LIMITED debt-free?

No. It reported borrowings of ₹30 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹29 Cr after cash. Debt stands at 0.05× equity. That is lower than 59% of its 166 Pharmaceuticals peers.

Is WINDLAS BIOTECH LIMITED expensive compared with its peers?

On trailing P/E, WINDLAS BIOTECH LIMITED ranks 74 of 158 in Pharmaceuticals — cheaper than 54% of them, against an industry median of 30.1×. This is a position, not a valuation judgement.

How much does the WINDLAS BIOTECH LIMITED share price move in a day?

On a typical session WINDLAS BIOTECH LIMITED moves 1.23% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track WINDLAS BIOTECH LIMITED's announcements?

Every NSE and BSE filing by WINDLAS BIOTECH LIMITED appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.