Concall transcriptSep 2026
Sep 2026 · Transcript
Source: Bse
Symbiotec Pharmalab Limited (SYMBIOTEC)
Micro CapPharma stocks · Micro cap · NSE
Symbiotec Pharmalab Limited is a global leader in corticosteroid and steroidal hormone APIs, operating fully integrated manufacturing platforms across India. The company is expanding into complex injectables (dual chamber vials) and industrial biotech CDMO services backed by long-term take-or-pay customer contracts.
Data qualityFresh enough for analysisQuote updated 04 Nov, 03:31 pm ISTDetails
Quote04 Nov, 03:31 pm IST
Base fundamentals02 Nov 2026 · screener
Latest result23 Sept, 01:58 am IST
Score05 Nov, 04:30 am IST · v4.3-runtime-valuation
Tags20 Sept 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 32.8 (n=186)
Technical timing lens
Trend score and candlestick chart
75BullishSMA20 +9.3% / mo · MACD − · sector +7.0pp vs Nifty 500 (3M)
Stock trend: 59
Sector RS: 100
Sector 3M: +2.9% vs Nifty 500 -4.1%
Pharma FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
SYMBIOTECD candles · FIT view+12.3%Latest close ₹1233.20 on 2026-11-04
Daily history is available from 2026-09-01; the requested 1Y window is partially covered.
Bar
-2.1%
RSI
55
MACD hist
-1.66
52W pos
80%
2026-11-04O ₹1260.10H ₹1273.60L ₹1226.10C ₹1233.20Vol 6.3L 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
SYMBIOTECNifty PharmaNifty 500
- SYMBIOTEC
- +12.3%
- Nifty 500
- -2.4%
- Nifty Pharma
- +2.0%
- Vs Nifty 500
- +14.8 pp
Chart stats
4 Nov 2026- From 52W high
- -5.9%
- 52W range position
- 80%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.94x
- Avg traded value
- ₹82.2 Cr
- 20D price channel
- ₹1,067.6 - ₹1,309.9
₹1,309.9
₹934.2 - ₹1,309.9
₹61.4
Latest completed session
20-session average
50.8% annualized volatility
Research snapshot
What the evidence says now
Weak 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 · OVERVALUED19
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +7.4% · PAT -53.3% YoY
Technical
Bullish75
Price trend and sector-relative-strength timing.
Valuation
Legacy model-932.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
pending—
Management reliability not computed 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
Bad · 0/100PAT -53% YoY · margin compression · Rev +7% YoY
Filed 21 Sept 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹218 Cr | +7.4% | -11.0% |
| EBITDA | ₹45 Cr | -22.4% | -27.4% |
| Operating margin | 21.0% | -800 bps | -400 bps |
| PAT | ₹14 Cr | -53.3% | -50.0% |
| PAT margin | 6.4% | -836 bps | -501 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 80.50
- P/B
- —
- EV/EBITDA
- 28.76
- Market Cap
- 8008.00Cr
Profitability
- ROE
- 11.70%
- ROCE
- 13.00%
- ROA
- 6.18%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- -1.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 70.00%
Balance Sheet
- Debt/Equity
- 0.34
- Interest Coverage
- 9.19×
- Altman Z
- 8.06
- Book Value
- —
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- 175.00 Cr
- EPS TTM
- 17.51
Shareholding
- Promoter Hold
- 33.28%
- Promoter Pledge
- 38.50%
- Momentum 52W
- 83%
Financial History
Updated 4/11/2026
Revenue
₹ CrLatest: 218-11.0% vs prev
Net Profit
₹ CrLatest: 14.0-50.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 55. Wait for confirmation.
- SMA20 rising (~8.5% over last month) — short-term momentum positive.
- RSI(14) at 55 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 6% off 52W high · 32% 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
-
RS percentile
Insufficient history
1M return
+7.3%
3M return
-
6M return
-
1Y return
-
RS 1D
-
RS 20D
-
Sector rank
#2
Industry rank
-
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
unavailable
200-DMA
unavailable
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
44 observations
04 Nov 2026Value 115.16-3.43%
RS vs Nifty 500115
Valuation & peers
U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth5/25
Quality2/20
Balance Sheet6/15
Cash Flow1/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
19
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
19/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 6/15 to the score.
- Growth contributes 5/25 to the score.
Main drags
- Promoter pledge is 38.5%.
- Fair-value margin of safety is negative at -932.7%.
- Valuation is weaker at 0/30; 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
80.5
PB
—
EV/EBITDA
28.8
ROE
11.7%
ROCE
13.0%
FCF Yield
—
Debt/Equity
0.3
MoS
-932.7%
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: 05 Nov 2026
v4.3-runtime-valuation
Final score
19
Previous: 19
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-932.7%
Previous: -932.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
05 Nov 2026
v4.3-runtime-valuation
22
22
22
22
22
22
22
22
19
19
19
19
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
—
Growth-justified P/E
6.8
Growth-justified Value
₹119.42
-932.7% MoS
PEG
—
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
AARTIPHARM
Micro
Aarti Pharmalabs Limited
Pharmaceuticals
match 93
33
30.4
8.6%
+27%
WATCHLIST
HCG
Micro
Healthcare Global Enterprises Limited
Healthcare Services
match 92
28
181.0
2.5%
-802%
OVERVALUED
JLHL
Micro
Jupiter Life Line Hospitals Limited
Healthcare Services
match 92
39
44.4
13.1%
-9%
WATCHLIST
ENTERO
Micro
Entero Healthcare Solutions Limited
Pharmaceuticals
match 92
37
52.0
6.9%
-16%
WATCHLIST
YATHARTH
Micro
Yatharth Hospital & Trauma Care Services Limited
Healthcare Services
match 91
38
49.3
10.2%
-22%
WATCHLIST
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 2026-10-29T01:11:07.629Z
Management commentary snapshot
Q1FY27 consolidated revenue grew 7% YoY to Rs 218.2 Cr, driven by steady 6% growth in the core API segment, while reported EBITDA declined 22% YoY to Rs 45.2 Cr due to operational expenses and depreciation drag from new non-revenue-generating businesses.
The core API business remains cash-generative, maintaining gross margins above 60% and stable EBITDA margins near 30%. Near-term profit compression is fully attributable to upfront opex and depreciation in new growth verticals (complex injectables and CDMO) which are slated to commence commercial revenue generation within 6-12 months.
Growth engines
Complex Injectables - Dual Chamber Vials
ON_TRACKFiled first molecule ANDA for DCV in September 2026; second ANDA filing scheduled for Q4 FY27; term-sheet signed for US distribution.
Industrial Biotech CDMO Services
ON_TRACK10-year take-or-pay agreement with a US alternate protein player and a 10-year take-or-pay term-sheet with a European alternate protein player in place.
Bio-Pharmaceuticals (Insulin Drug Substance)
ON_TRACK5-year take-or-pay agreement in place with capex on track; regulatory approval filing scheduled for Q4 FY27.
Core API Expansion
ON_TRACKConsistent core API revenue growth backed by three decades of steroid chemistry depth and regulatory compliance across regulated markets.
Capacity and execution
New CDMO and Fermentation Capacity
ON_TRACKInitiated 600 kl new CDMO capacities backed by customer agreements; Ujjain biomanufacturing facility commissioned at 400 kl alongside a dedicated 14 kl biologics facility under construction.
Complex Injectables Facility
COMMISSIONEDDouble Chamber Vial facility operational at Mhow, Indore with 18-20 million vial capacity per annum.
Tailwinds
Take-or-Pay Contract Security
POSITIVELong-term take-or-pay contracts for CDMO and alternate protein segments secure highly predictable, recurring revenue streams.
Clean Regulatory Track Record
POSITIVEZero critical observations from global regulators since FY24, enabling seamless service delivery to leading global innovators.
Headwinds
Opex and Depreciation Drag
CHALLENGINGNew non-revenue generating businesses incurred Rs 23 Cr in opex and Rs 12 Cr in depreciation during Q1FY27, impacting reported PAT.
Risk radar
Execution and Ramp-up Delays in New Businesses
MONITORRs 1,000+ Cr capex invested in new projects is yet to generate substantial commercial revenue, creating short-term earnings dilution.
Net Debt Levels
MONITORConsolidated net debt stood at ~Rs 398 Cr as of June 30, 2026, moderating to ~Rs 326 Cr by September 20, 2026.
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
Year-over-year comparisons provide a meaningful baseline for evaluating revenue growth, profitability trends, and core margin delivery against seasonal and operational baselines.
Sector KPIs management disclosed
API Revenue Growth
POSITIVEAPI revenue grew 6% YoY to Rs 215.3 Cr in Q1FY27 compared to Rs 203.2 Cr in Q1FY26.
API EBITDA Margins
STABLEAPI EBITDA margins remained steady at ~30% (Rs 65.8 Cr in Q1FY27 vs Rs 60.1 Cr in Q1FY26).
Gross Margins
POSITIVEConsolidated gross margins expanded by 300 bps YoY to 65% in Q1FY27 from 62% in Q1FY26.
Regulatory Compliance
POSITIVESuccessfully completed 4 major regulatory audits recently, including EUGMP for Rau and Pithampur plants with approvals received, and USFDA audit EIR received for Rau.
Management forward view
Core Cash Generation Funds New Growth
POSITIVEConsistent, cash-generative growth in the API business allows the company to build new growth engines with conviction.
Revenue Commencing Soon
ON_TRACKRevenue generation from various new businesses and capitalized capacities is expected to commence in the next 6-12 months.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| New Business Revenue Commencement | Non-revenue generating phase with initial filings and customer onboarding | Commercial revenue realization from DCV and CDMO contracts over the next 6-12 months |
| Net Debt Trajectory | Rs 398 Cr as of June 2026 / Rs 326 Cr as of September 2026 | Continued debt reduction utilizing internal accruals and IPO proceeds |
| USFDA Regulatory Status | EIR awaited for Pithampur plant audit conducted in August 2026 | Successful clearance and receipt of EIR for Pithampur facility |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
Trust profile pending
Trust asks a simple question: can investors rely on management behaviour and financial delivery? Trust Lite uses promoter alignment, cash conversion, leverage, and result consistency. Full transcript-based claim matching appears after enough documents are ingested.
Continue researching Symbiotec Pharmalab 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 28 Oct - Earnings Conference Call / Analysts Meet to discuss the financial performance and business updates for the quarter and half year ended September 30, 2026 (Q2FY27). …
Source: Bse
Investor presentationSep 2026
Sep 2026 · PPT
Source: Bse
Announcement
Announcement Under Regulation 30 (LODR)-Symbiotec Pharmalab Limited Receives Establishment Inspection Report ("EIR") From U.S. FDA For Its Manufacturing Facility In Pithampur ('SEZ') With VAI Classification 29 Sep - Received FDA EIR for Pithampur SEZ facility with VAI status after August 10-14, 2026 inspection.
Source: Bse
Concall transcript
Earnings-call transcript · Symbiotec Pharmalab Limited has informed the Exchange about Transcript
Source: Nse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Sep - Pursuant to regulation 30 and 47 of SEBI Listing Regulations, the copies of newspaper publication is attached herewith.
Source: Bse
Investor presentationJun 2026
Jun 2026 · Investor presentation · Symbiotec Pharmalab Limited has informed the Exchange about Investor Presentation
Source: Nse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Sep - Dear Sir / Madam, Pursuant to above referred Listing Regulations, we enclose herewith the details of the 'Earnings Conference Call / Analysts Meet' to discuss …
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 21 Sep - Q1FY27 revenue rose to Rs 218.2 crore; PAT was Rs 14.1 crore; first DCV ANDA filed.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.