Ind-Swift Laboratories Limited (INDSWFTLAB.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-42.2%

₹203.14

vs ₹351.35 price

Levered DCF

₹12.08

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

7.26

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	26.55×	2.44×	1.1×	6.85×	-185.14×	-135.75×	-4.75×	5.74×
P/B	0.79×	0.46×	0.63×	0.48×	0.66×	0.7×	0.16×	0.32×
P/S	1.71×	0.96×	0.46×	0.27×	0.38×	0.48×	0.13×	0.26×
EV / EBITDA	15.31×	0.52×	0.15×	4.96×	5.64×	7.16×	6.32×	5.63×
Gross margin	29.7%	48.7%	32.3%	36.5%	39.4%	42.1%	49.1%	12.6%
Operating margin	2.3%	-7.8%	15.7%	15.0%	8.9%	12.4%	9.4%	5.9%
Net margin	6.5%	44.6%	32.9%	3.9%	-0.2%	-0.4%	-2.7%	3.8%
Current ratio	3.8×	3.92×	4.43×	3.14×	3.22×	3×	2.67×	2.35×
Debt / equity	0.01×	0.03×	0.02×	1.26×	1.59×	1.67×	1.61×	1.9×
Interest coverage	10.31×	-15.03×	3.93×	1.97×	0.97×	1.11×	0.68×	0.48×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.0%	21.4%	45.0%	7.0%	-0.4%	-0.5%	-3.3%	4.8%
Return on invested capital	0.9%	-3.5%	11.6%	6.4%	-1.0%	-1.2%	4.3%	1.5%
Return on assets	2.5%	17.4%	28.8%	2.6%	-0.1%	-0.2%	-1.1%	1.5%
Free cash flow yield	-9.8%	-16.8%	-34.9%	55.8%	33.5%	30.7%	113.3%	-40.7%
Earnings yield	3.8%	46.7%	70.8%	14.6%	-0.5%	-0.7%	-21.1%	14.8%
Enterprise value	₹6.9B	₹1.5B	₹1.2B	₹11.7B	₹13.3B	₹14.2B	₹11.2B	₹13.4B
Net debt / EBITDA	-9.08×	-1.36×	-0.61×	3.58×	3.96×	5.01×	5.75×	4.81×
Cash conversion cycle (days)	115	112	54	272	320	364	389	285