Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 12 Oct - Allotment of 54,500 Equity Shares having Face Value of Rs. 1/- each, as per Companies ESOP Plan
Source: Bse
Sai Life Sciences Limited (SAILIFE)
Small CapPharma stocks · Small cap · NSE
Sai Life Sciences is an integrated Contract Research, Development, and Manufacturing Organization (CRDMO) founded in 1999. It offers end-to-end services from drug discovery to commercial manufacturing for global pharma and biotech clients, including 19 of the top 25 global pharma companies. It has R&D and manufacturing facilities in India, US, and UK.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result07 Aug, 04:01 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
68BullishSMA20 -1.4% / mo · MACD − · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 49
Sector RS: 98
Sector 3M: -1.8% vs Nifty 500 -5.6%
Pharma FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
SAILIFED candles · FIT view+36.2%Latest close ₹1395.90 on 2026-10-19
Bar
+1.1%
RSI
33
MACD hist
-21.08
52W pos
67%
2026-10-19O ₹1381.00H ₹1412.60L ₹1370.40C ₹1395.90Vol 2.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SAILIFENifty PharmaNifty 500
- SAILIFE
- +7.6%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- +13.2 pp
Chart stats
19 Oct 2026- From 52W high
- -17.7%
- 52W range position
- 67%
- ATR (14)
- 3.6%
- Volume vs 20D
- 0.62x
- Avg traded value
- ₹65.8 Cr
- 20D price channel
- ₹1,370.4 - ₹1,649.8
₹1,697
₹783.9 - ₹1,697
₹49.9
Latest completed session
20-session average
23.8% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · FAIR VALUE52
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good70
Revenue +11.7% · PAT +21.7% YoY
Technical
Bullish68
Price trend and sector-relative-strength timing.
Valuation
Legacy model-81.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence81
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 70/100Rev +12% YoY · PAT +22% YoY · margin expansion · operating leverage
Filed 06 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹554 Cr | +11.7% | -8.0% |
| EBITDA | ₹148 Cr | +22.3% | -16.4% |
| Operating margin | 27.0% | +300 bps | -200 bps |
| PAT | ₹73 Cr | +21.7% | -29.8% |
| PAT margin | 13.2% | +108 bps | -410 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 80.30
- P/B
- 11.89
- EV/EBITDA
- 35.82
- Market Cap
- 29547.00Cr
Profitability
- ROE
- 15.40%
- ROCE
- 19.60%
- ROA
- 10.02%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 24.00%
- EPS 5Y
- 42.00%
- Revenue 3Y
- 22.00%
- EPS 3Y
- 105.00%
Balance Sheet
- Debt/Equity
- 0.12
- Interest Coverage
- 18.80×
- Altman Z
- 8.43
- Book Value
- 117.00
Cash Flow
- FCF Yield
- 0.39%
- FCF Positive Y
- 4/5
- OCF
- 509.00 Cr
- EPS TTM
- 17.12
Shareholding
- Promoter Hold
- 34.50%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 66%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 2,192+29.3% vs prev
Net Profit
₹ CrLatest: 349+105.3% vs prev
Return on Equity
%Latest: 14.1+76.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 33.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~1.4% over last month) — short-term momentum negative.
- RSI(14) at 33 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 18% off 52W high · 78% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
94
RS percentile
Stage 2 UptrendEstablished S2
1M return
-12.8%
3M return
+7.6%
6M return
+38.8%
1Y return
+55.4%
RS 1D
-1
RS 20D
-2
Sector rank
#1
Industry rank
-
Stage evidence
- Price is 10.4% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +5.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
09 Feb 2026
S2 age
179 trading sessions
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 167.57+1.51%
RS vs Nifty 500168
Valuation & peers
U-Score 52 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 52 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth22/25
Quality13/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
52
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
52/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 22/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Fair-value margin of safety is negative at -81.2%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
80.3
PB
11.9
EV/EBITDA
35.8
ROE
15.4%
ROCE
19.6%
FCF Yield
0.4%
Debt/Equity
0.1
MoS
-81.2%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
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.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
52
Previous: 52
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-81.2%
Previous: -81.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
52
52
52
52
52
52
52
52
52
52
52
52
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹212.29
-557.5% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹770.4
-81.2% MoS
PEG
1.19
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
LALPATHLAB
Small
Dr. Lal Path Labs Ltd.
Healthcare Services
match 97
49
55.5
22.3%
-27%
FAIR VALUE
NEULANDLAB
Small
Neuland Laboratories Limited
Healthcare Services
match 96
50
49.5
21.2%
-10%
FAIR VALUE
NH
Small
Narayana Hrudayalaya Ltd.
Healthcare Services
match 96
49
40.8
20.5%
+3%
FAIR VALUE
PPLPHARMA
Small
Piramal Pharma Limited
Healthcare Services
match 95
30
34.0
9.8%
-125%
OVERVALUED
WOCKPHARMA
Small
Wockhardt Limited
Healthcare Services
match 95
20
79.4
6.1%
-2942%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-17T04:38:08.284Z
Management commentary snapshot
FY26 revenue grew 29% YoY to ₹2,192 Cr, with EBITDA up 56% to ₹661 Cr, driven by strong CDMO and CRO performance. PAT surged 109% YoY. Company plans significant Capex of ₹1,100-1,300 Cr in FY27 for capacity expansion.
The company delivered robust FY26 results with strong revenue and EBITDA growth, driven by operating leverage and material margin expansion. Management is front-loading significant capex in FY27, aligned with customer demand and strategic opportunities, indicating confidence in future growth despite potential near-term operational inefficiencies.
Current business mix
FY26 Revenue Contribution
Latest issuer-disclosed distribution across 2 reported categories.
CDMO65.0%
CRO35.0%
Growth engines
Deepening Large Pharma Engagement
Increasing strategic engagement with global large pharma customers across CRO and CDMO, with expansion from early discovery to commercial manufacturing.
Momentum in Integrated Discovery Services
Integrated CRO strategy with biotech and pharma customers continues to scale, growing cross-sell opportunities and traction for larger programs.
Investments in Next-Generation Technologies
HTE platform established, expanding capabilities in Peptides and ADCs, and continued investments in advanced biology platforms.
Scaling Capacity & Infrastructure
The company incurred ₹633 Cr capex in FY26 and plans ₹1,100-1,300 Cr in FY27 to nearly double overall manufacturing capacity by FY27.
Capacity and execution
FY27 Capex Allocation
₹1,100 – 1,300 Crore allocated for FY27 Capex, with 70% dedicated to capacity expansion.
Overall Manufacturing Capacity
Strategic investments will nearly double Sai’s overall manufacturing capacity by FY27.
New Process R&D Block
Broke ground for a new Process R&D Block at Unit 2 Hyderabad, doubling PRD capacity.
New Greenfield Site
Acquired land for a new greenfield site in Choutuppal.
Tailwinds
Rise in R&D and Manufacturing Outsourcing
Increasing outsourcing intensity across Pharma & Biotech companies, with integrated CRO-CDMO partnerships gaining strategic relevance.
Geographic Diversification
Trend of Large Pharma diversifying supply chains and manufacturing networks, leading to more pronounced long-term strategic partnerships.
Biotech Funding Recovery
Biotech funding environment showing signs of recovery, with funding skewed towards mid-to-late stage assets and pipeline progression.
Headwinds
Middle Eastern Conflict Impact
Ongoing geopolitical tensions have led to a rise in input and logistics costs.
Near-term Operational Inefficiencies
Ongoing investments may lead to some near-term operational inefficiencies.
Risk radar
Input and Logistics Cost Recovery
Rise in input and logistics costs due to geopolitical tensions; customer discussions initiated for revisions, but recoveries may not always be contemporaneous.
Evolving Tariff Environment
Evolving tariff environment remains an area of focus, though no impact has been seen so far from Sai's perspective.
Operational Inefficiencies from Capex
The company states that ongoing investments may lead to some near-term operational inefficiencies.
Management accountability
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.
Analyst reading lens
Compare YOY
The investor presentation primarily highlights full-year FY26 results compared to FY25, providing clear percentage changes for key financial metrics. This comparison is most relevant for assessing annual performance and growth trends.
Sector KPIs management disclosed
Volumes (Revenue Growth)
PositiveRevenue for FY26 was ₹2,192 Cr, a 29% increase over ₹1,695 Cr in FY25.
Realizations (EBITDA Margin)
PositiveEBITDA margin expanded by 508 bps YoY to 30% in FY26, mainly due to operating leverage on employee costs, material margin, and other expenses.
Spreads (Material Margin)
PositiveMaterial margin expanded by 145 bps YoY in FY26.
EBITDA per tonne
Not applicable for a CRDMO business. EBITDA for FY26 was ₹661 Cr.
Management forward view
Long-term Fundamentals Strong
MD & CEO believes the long-term fundamentals of innovation-led outsourcing and supply chain diversification continue to remain strong.
EBITDA Margin Forecast
The Company remains confident of maintaining its EBITDA margin forecast of 28-30% over the next 2-3 years, despite ongoing investments.
Revenue CAGR Target
Positioned to achieve 15-20% revenue CAGR over 3-5 years.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 30% (FY26) | Sustained EBITDA margin within the 28-30% forecast range despite significant FY27 capex. |
| FY27 Capex Execution | ₹1,100 – 1,300 Crore planned | Timely deployment of the front-loaded capex and successful ramp-up of new capacity by FY27. |
| Input Cost Revisions | Customer discussions initiated for cost revisions | Successful and contemporaneous recovery of rising input and logistics costs to protect margins. |
| New Modalities Revenue Contribution | 4% (FY26) | Increasing revenue contribution from new modalities like Peptides, ADCs, Oligos, and Lipids. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
81Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 93rd percentile of the scored universe and 90th percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
30 docs text-extracted · 9 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
93rd percentile
overall median 67 · Pharma: 90th pctile, median 70 · Small: 95th pctile, median 66
Evidence depth
Financial-only
30 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read 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.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
76
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.4%.
- ▸4 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Sai Life Sciences Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep - Sai Life Sciences to attend Jefferies 5th India Forum on 18 September 2026 in Gurgaon.
Source: Bse
Annual reportSep 2026
Sep 2026 · Weblink Letter To Shareholders - As Per Regulation 36(1)(B) Of SEBI (LODR) Regulations, 2015 25 Aug - Web-link sent for FY2025-26 annual report; 27th AGM on September 17, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 18 Sep - Allotment of 24,000 Equity Shares having Face Value of Rs. 1/- as per Company''s ESOP Plan
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 1 Sep - Allotment of 80,600 Equity shares having Face Value ?1/- each as per Company''s ESOP Plans
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Allotment 6 Aug - Sai Life Sciences allotted 18,700 equity shares on 06 August 2026 under ESOP 2008.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug - Newspaper Publication relating to 27th AGM (Post-dispatch Advt.)
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Allotment 10 Jul - Sai Life Sciences allotted 8,900 ESOP shares on 10 July 2026, raising capital by INR 16.81 lakh.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug - Newspaper publication for Un-audited Financial Results of the Company for the quarter ended on 30 June 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.