Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 8 Oct
Source: Bse
Viyash Scientific Limited (VIYASH)
Micro CapPharma stocks · Micro cap · NSE
Viyash Scientific Limited, formerly Sequent Scientific, is a pharma company that completed a transformative FY26, marked by successful integration of facilities, operations, and corporate functions. The company focuses on animal health and APIs, leveraging merger synergies for improved operating leverage and resilience.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result16 Aug, 12:51 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 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
62BullishSMA20 -9.0% / mo · MACD − · sector +4.9pp vs Nifty 500 (3M)
Stock trend: 36
Sector RS: 100
Sector 3M: -0.7% 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
VIYASHD candles · FIT view+1.6%TODAY · PROVISIONALLatest price ₹213.58 on 2026-10-21
Daily history is available from 2026-01-23; the requested 1Y window is partially covered. Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-4.0%
RSI
26
MACD hist
-1.31
52W pos
30%
2026-10-21O ₹222.39H ₹222.88L ₹204.15C ₹213.58Vol 35.1L shIntraday candle
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
VIYASHNifty PharmaNifty 500
- VIYASH
- -16.4%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- -10.8 pp
Chart stats
19 Oct 2026- From 52W high
- -25.8%
- 52W range position
- 36%
- ATR (14)
- 3.8%
- Volume vs 20D
- 1.48x
- Avg traded value
- ₹50.8 Cr
- 20D price channel
- ₹218.4 - ₹262.7
₹298
₹178.1 - ₹298
₹8.4
Latest completed session
20-session average
24.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST45
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +19.4% · PAT +113.5% YoY
Technical
Bullish62
Price trend and sector-relative-strength timing.
Valuation
Legacy model+17.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence82
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
Excellent · 90/100Rev +19% YoY · PAT +114% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹946 Cr | +19.4% | +2.8% |
| EBITDA | ₹178 Cr | +49.6% | -3.3% |
| Operating margin | 19.0% | +400 bps | -100 bps |
| PAT | ₹79 Cr | +113.5% | +19.7% |
| PAT margin | 8.3% | +368 bps | +118 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 46.60
- P/B
- 3.50
- EV/EBITDA
- 11.36
- Market Cap
- 10313.00Cr
Profitability
- ROE
- 7.39%
- ROCE
- 13.40%
- ROA
- 5.81%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 20.00%
- EPS 5Y
- 15.00%
- Revenue 3Y
- 34.00%
- EPS 3Y
- 73.00%
Balance Sheet
- Debt/Equity
- 0.17
- Interest Coverage
- 11.66×
- Altman Z
- 6.05
- Book Value
- 66.60
Cash Flow
- FCF Yield
- 2.32%
- FCF Positive Y
- 6/5
- OCF
- 323.00 Cr
- EPS TTM
- 5.76
Shareholding
- Promoter Hold
- 61.31%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 46%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 3,420+13.7% vs prev
Net Profit
₹ CrLatest: 225+1306.3% vs prev
Return on Equity
%Latest: 7.7+1071.2% 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
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 26. Wait for confirmation.
- SMA20 falling (~10.3% over last month) — short-term momentum negative.
- RSI(14) at 26 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 28% off 52W high · 20% 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
58
RS percentile
Stage 1 Base / Transition
1M return
-11.4%
3M return
-16.4%
6M return
+5.5%
1Y return
-
RS 1D
-2
RS 20D
-10
Sector rank
#1
Industry rank
#51
Stage evidence
- Price is 9.0% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +1.9% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
unavailable
Sector
leading
Industry
weakening
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
182 observations
19 Oct 2026Value 109.95-1.15%
RS vs Nifty 500110
Valuation & peers
U-Score 45 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 45 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · WATCHLISTValuation6/30
Growth16/25
Quality1/20
Balance Sheet11/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
45
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
45/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 17.6%.
- Balance sheet contributes 11/15 to the score.
Main drags
- Quality is weaker at 1/20; verify the latest quarterly trend.
- Valuation is weaker at 6/30; verify the latest quarterly trend.
- Cash flow is weaker at 6/10; 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
46.6
PB
3.5
EV/EBITDA
11.4
ROE
7.4%
ROCE
13.4%
FCF Yield
2.3%
Debt/Equity
0.2
MoS
+17.6%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
45
Previous: 45
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+17.6%
Previous: +14.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
43
43
43
43
43
45
45
45
45
45
45
45
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
₹92.91
-129.9% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹259.2
+17.6% MoS
PEG
1.94
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
METROPOLIS
Micro
Metropolis Healthcare Limited
Diagnostics
match 167
39
53.4
13.6%
-562%
WATCHLIST
THYROCARE
Micro
Thyrocare Technologies Limited
Diagnostics
match 165
55
43.5
28.4%
-117%
FAIR VALUE
NIDAN
SME
Nidan Laboratories And Healthcare Ltd.
Diagnostics
match 151
36
10.1
2.6%
-131%
WATCHLIST
INVICTA
SME
Invicta Diagnostic Ltd.
Diagnostics
match 151
60
19.4
14.0%
+61%
UNDERVALUED
PARKHOSPS
Micro
Park Medi World Limited
Healthcare Services
match 98
44
37.2
16.8%
+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 2026-06-14T21:08:29.816Z
Management commentary snapshot
Viyash Scientific reports Q4 FY26 as its strongest quarter, with revenues up 19.1% YoY and EBITDA surging 63.8% YoY, driven by merger synergies and operational improvements. Full-year FY26 also saw robust growth and margin expansion.
The company delivered strong Q4 and FY26 results, with significant margin expansion and deleveraging, indicating successful integration and synergy realization. Management's focus on product pipeline and inorganic growth suggests continued momentum, though sustained execution on synergies and new opportunities remains key.
Current business mix
Q4 FY26 Global Sales by Segment
Latest issuer-disclosed distribution across 3 reported categories.
Formulations55.4%
APIs42.6%
Other Sales2.0%
Growth engines
Merger Synergies
Merger synergies are beginning to reflect meaningfully in financial performance, strengthening execution and improving operating leverage.
Product Pipeline & Growth Roadmap
Management is excited about the product pipeline and growth roadmap for FY27.
Strategic Partnerships
Partnership with Boehringer Ingelheim for distribution and promotion of companion animal portfolio in India.
Direct Sales Expansion
Initiated direct companion animal sales activities in Italy.
Capacity and execution
New Production Block
A new production block was created and received EU approval; commercialization has already started.
Tailwinds
Merger Integration & Synergies
Successful integration of facilities, operations, and corporate functions into one unified platform, with synergies reflecting meaningfully.
Deleveraged Balance Sheet
Significantly deleveraged balance sheet, with Net Debt to LTM EBITDA at 0.2x in Q4 FY26, down from 1.0x in FY25.
Strong Q4 Performance
Q4 FY26 was the strongest quarter in the Company’s history.
Headwinds
Geopolitical and Maritime Disruptions
Ongoing geopolitical and maritime disruptions pose challenges.
Risk radar
Geopolitical and Maritime Disruptions
The company navigates ongoing geopolitical and maritime disruptions through disciplined asset utilization, cost controls, and agile pricing strategies.
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 BOTH
Q4 FY26 results are compared both YoY (for overall growth and annual trends) and QoQ (for sequential momentum and the impact of merger synergies). Management highlighted Q4 as the strongest quarter in company history, making sequential performance crucial.
Sector KPIs management disclosed
Q4 FY26 Revenue Growth (YoY)
Revenues: ₹9,200 Million, +19.1% YoY.
Q4 FY26 EBITDA Growth (YoY)
EBITDA: ₹2,001 Million, +63.8% YoY.
Q4 FY26 EBITDA Margin
EBITDA Margin: 21.7%, +590 bps YoY.
FY26 Revenue Growth (YoY)
Revenues: ₹34,203 Million, +13.8% YoY.
Management forward view
Transformative Year & Integration Success
Fiscal Year 2026 has been a transformative year, marked by successful integration into one unified platform.
Focus on Synergy Realization
Focus on synergy realization for the next 12 months, with the merger process well on track.
Inorganic Growth Opportunities
Actively evaluating selective inorganic opportunities to further strengthen the platform and create long-term value.
FY27 Outlook
Excited about the product pipeline and growth roadmap as the company enters FY27.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Debt to LTM EBITDA | 0.2x (Q4 FY26) | Sustained low leverage, enabling inorganic growth opportunities. |
| EBITDA Margin | 21.7% (Q4 FY26) | Continued expansion or stability, indicating effective cost controls and operating leverage from synergies. |
| Synergy Realization | Merger synergies beginning to reflect meaningfully. | Further quantifiable benefits from R&D integration, manufacturing optimization, and procurement. |
| Product Launches & Approvals | 4 APIs, 4 FDFs approved; 19 products in R&D pipeline. | Timely commercialization of new products and successful regulatory approvals, especially in key markets like the USA. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
82Limited 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 94th 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 05 Sept 2026
management-trust-v1
79 docs text-extracted · 37 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
94th percentile
overall median 67 · Pharma: 90th pctile, median 70 · Micro: 90th pctile, median 73
Evidence depth
Financial-only
79 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
90
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 61.3%.
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 9%.
- ▸FCF yield is positive at 2%.
Trust risks
- ▸ROE is low at 7.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Viyash Scientific 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)-Press Release / Media Release 8 Jun - Viyash acquires 100% of Italy’s BioForLife for ~₹188 crore; closing expected in Q2 FY27.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 18 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 4 Sep
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Annual reportAug 2026
Aug 2026 · Letter To The Shareholders Annual Report FY 2025-26 17 Jul - 41st AGM on August 11, 2026; annual report web-link shared with shareholders.
Source: Bse
Annual reportAug 2026
Aug 2026 · Notice Of 41St Annual General Meeting 17 Jul - 41st AGM on August 11, 2026; annual report issued, director reappointments and new Articles proposed.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Jul
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 17 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jul
Source: Bse
Investor presentation
Announcement under Regulation 30 (LODR)-Investor Presentation 25 Jun
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.