Influx Healthtech Ltd. (INFLUX)
SME CapPharma stocks · SME cap · NSE
Influx Healthtech is a CDMO specializing in nutraceuticals, cosmetics, pet care, and homecare, offering end-to-end services from product development to regulatory support. Operates 4 facilities in Palghar, Maharashtra, with 3,400+ products and 700+ clients globally. Listed on NSE Emerge in June 2025.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is acceptable, price trend is neutral, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹80 Cr | NDF | +19.4% |
| EBITDA | ₹15 Cr | +36.4% | +0.0% |
| Operating margin | 19.0% | -100 bps | -300 bps |
| PAT | ₹11 Cr | NDF | +10.0% |
| PAT margin | 13.8% | -29 bps | -118 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
FY26 revenue grew 40% YoY to INR 146.8 crs, with EBITDA up 45% to INR 29.9 crs and PAT up 54% to INR 20.5 crs. Margins expanded, but RoE and capacity utilization declined. Company secured FSSAI license for a new facility and invested in tablet capacity expansion.
Influx Healthtech delivered strong financial growth in FY26, driven by its core nutraceuticals segment and strategic capacity expansions. While RoE and capacity utilization declined, significant planned CapEx and new product launches, coupled with positive industry tailwinds for CDMO and nutraceuticals, support continued growth. Management's FY27 guidance indicates sustained momentum.
Revenue Mix – FY26 (%)
Latest issuer-disclosed distribution across 4 reported categories.
Nutraceuticals Segment Growth
Nutraceuticals revenue grew 40.3% YoY in FY26, comprising 90% of total revenue.
New Product Development
Introduced Quick Snap technology, MMTC technology, and functional beverages in FY26, expanding product portfolio.
Capacity Expansion
Invested ₹60 Lakhs to boost tablet capacity. Planned CapEx in nutraceuticals, cosmetics, veterinary & homecare segments.
Geographic Expansion
Received clearance to expand into the Tanzania market, increasing export reach to 36 countries.
Tablet Capacity Expansion
Invested ₹60 Lakhs to boost tablet capacity from 20,000 bottles to 30,000-35,000 bottles per day.
Planned CapEx for H2FY27
Planned CapEx in nutraceuticals, cosmetics, veterinary & homecare segments to go live by H2FY27.
Nutraceutical CDMO Facility Expansion
Reallocated IPO funds for enhanced construction cost, expanding nutraceutical CDMO facility from ~35,000 to 75,000 sq. ft.
New Production Lines Ordered
Ordered automated beverage manufacturing line (10,000 bottles/hour) and high-capacity pet food production line (1,000 kg/hour).
Indian CDMO Industry Growth
Indian CDMO industry is projected to grow at 13.8% CAGR, 2x the global industry's 7.2% CAGR.
Strategic Shift Towards Outsourcing
Pharma firms are increasingly outsourcing to CDMOs for cost savings and specialized expertise.
Indian Nutraceutical Industry Opportunity
India's nutraceutical industry is a $76 BN opportunity, projected to grow at 10.0% CAGR.
Rising Health Consciousness
Lifestyle shifts and rising health awareness are driving increased demand for nutraceutical products.
Declining Return on Equity (RoE)
RoE decreased to 20.4% in FY26 from 37.0% in FY25.
Reduced Capacity Utilization
Capacity utilization fell to 70% in FY26 from 89% in FY25, despite capacity additions.
Negative Shift in Cash Conversion Cycle
Cash Conversion Cycle moved from -23 days in FY25 to 64 days in FY26.
Decreased F&D Investment
F&D investment decreased to INR 5 lakhs in FY26 from INR 24 lakhs in FY25, potentially impacting future innovation.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The presentation primarily focuses on annual performance (FY26 vs FY25) and half-yearly (H2 FY26 vs H2 FY25) comparisons, which are more relevant for assessing growth trends in a manufacturing business with potential seasonality and project execution.
Nutraceuticals Revenue Growth
Nutraceuticals revenue grew 40.3% YoY to INR 131.9 crs in FY26.
Export Countries
Export countries increased from 11 in FY25 to 36 in FY26. Received clearance to expand into the Tanzania market.
New Product Introductions
Introduced Quick Snap technology, MMTC technology, and functional beverages in FY26.
Regulatory Approvals
Secured a 5-year FSSAI license for the new rented facility. Received GMP compliance approval for Tanzania expansion.
FY27 Growth Guidance
Management provided FY27 growth guidance of 25-30% with similar margins.
Commercialization of New Lines
Plans to commercialize automated beverage line and high-capacity pet production line.
CapEx Go-Live Timeline
Planned CapEx in nutraceuticals, cosmetics, veterinary & homecare segments to go live by H2FY27.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| FY27 Revenue Growth | 40% (FY26) | Achieving management's 25-30% guidance. |
| EBITDA Margin | 20.3% (FY26) | Maintaining similar margins as guided by management. |
| Capacity Utilization | 70% (FY26) | Improvement in utilization rates post new capacity commissioning. |
| Return on Equity (RoE) | 20.4% (FY26) | Reversal of the declining trend in RoE. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
58NeutralMACD − · near 52W high · sector +2.2pp vs Nifty (3M)
Technical chart
INFLUXdaily · 1Y · AUTO+39.4%Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 49.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 49 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 8% off 52W high · 81% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 15 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 15 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Balance sheet contributes 7/15 to the score.
- Growth contributes 3/25 to the score.
- Cash flow contributes 1/10 to the score.
Main drags
- Altman Z is 0.0, in distress territory.
- Fair-value margin of safety is negative at -344.5%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 45th percentile of the scored universe and 33rd percentile within Pharma. Main check: cash conversion is weak at 43/100.
Healthy Trust Lite: Promoter holding is 73.5%. Key concern: Only 0 years of positive FCF.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Pharma: 33rd pctile, median 70 · SME: 56th pctile, median 64
5 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 73.5%.
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.00.
- ▸OPM spread across recent quarters is 3%.
Trust risks
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 32.80
- P/B
- —
- EV/EBITDA
- 19.82
- Market Cap
- 674.00Cr
Profitability
- ROE
- —
- ROCE
- —
- ROA
- —
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- —
- EPS 5Y
- —
- Revenue 3Y
- —
- EPS 3Y
- —
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 0.00
- Book Value
- —
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 4.00 Cr
- EPS TTM
- 8.87
Shareholding
- Promoter Hold
- 73.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 84%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
Business-comparable names in Pharma, ranked by similarity
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.