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.
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.
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
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 30 Jun 2026
Good · 70/100Rev +12% YoY · PAT +22% YoY · margin expansion · operating leverage
| 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.
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 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.
FY26 Revenue Contribution
Latest issuer-disclosed distribution across 2 reported categories.
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.
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.
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.
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.
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
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 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.
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.
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.
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.
Trend score and candlestick chart
71Bullishfull bull SMA stack · SMA20 +13.1% / mo · RSI overbought · MACD + · near 52W high · sector +2.2pp vs Nifty (3M)
Technical chart
SAILIFEdaily · 1Y · AUTO+48.2%Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 71.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~11.5% over last month) — short-term momentum positive.
- RSI(14) at 71 — overbought zone; risk of mean reversion.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 37.2% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +7.8%.
- Both 3-month and 6-month returns are positive.
Valuation & score drivers
U-Score 51 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 51 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 22/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -105.6%.
- Valuation is weaker at 0/30; 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.
Healthy Trust: 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.
High Trust Lite: Promoter pledge is zero.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Pharma: 90th pctile, median 70 · Small: 95th pctile, median 66
26 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
Healthy 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 pledge is zero.
- ▸FCF yield is positive at 0.3%.
- ▸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.
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
- 91.50
- P/B
- 13.54
- EV/EBITDA
- 40.74
- Market Cap
- 33650.00Cr
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
- 0.34%
- FCF Positive Y
- 4/5
- OCF
- 509.00 Cr
- EPS TTM
- 17.12
Shareholding
- Promoter Hold
- 34.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 95%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Pharma, ranked by similarity
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.