Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1 Sep - Intimation of Schedule of Analyst/Institutional Investor Meetings under the SEBI (LODR), Regulations 2015
Source: Bse
Windlas Biotech Limited (WINDLAS)
Small CapPharma stocks · Small cap · NSE
Windlas Biotech Limited operates in Formulations, within the Pharma sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:38 am IST
Score20 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
67BullishSMA20 -4.4% / mo · RSI oversold · MACD − · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 46
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
WINDLASD candles · FIT view+5.4%Latest close ₹906.10 on 2026-10-19
Bar
-0.8%
RSI
28
MACD hist
-17.97
52W pos
43%
2026-10-19O ₹913.00H ₹915.70L ₹885.00C ₹906.10Vol 1.0L 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
WINDLASNifty PharmaNifty 500
- WINDLAS
- +4.0%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- +9.5 pp
Chart stats
19 Oct 2026- From 52W high
- -23.3%
- 52W range position
- 43%
- ATR (14)
- 4.9%
- Volume vs 20D
- 1.23x
- Avg traded value
- ₹8.5 Cr
- 20D price channel
- ₹885 - ₹1,148
₹1,181.9
₹697.4 - ₹1,181.9
₹44
Latest completed session
20-session average
32.0% 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 VALUE49
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +18.1% · PAT +0.0% YoY
Technical
Bullish67
Price trend and sector-relative-strength timing.
Valuation
Legacy model+36.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence79
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
Bad · 0/100PAT 0% YoY · margin compression · Rev +18% YoY
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹248 Cr | +18.1% | +4.2% |
| EBITDA | ₹27 Cr | +0.0% | +8.0% |
| Operating margin | 11.0% | -200 bps | +0 bps |
| PAT | ₹18 Cr | +0.0% | +12.5% |
| PAT margin | 7.3% | -131 bps | +54 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 31.60
- P/B
- 3.70
- EV/EBITDA
- 15.71
- Market Cap
- 2101.00Cr
Profitability
- ROE
- 12.20%
- ROCE
- 15.90%
- ROA
- 7.28%
- Dividend Y
- 0.62%
Growth (CAGR)
- Revenue 5Y
- 16.00%
- EPS 5Y
- 28.00%
- Revenue 3Y
- 21.00%
- EPS 3Y
- 17.00%
Balance Sheet
- Debt/Equity
- 0.06
- Interest Coverage
- 21.00×
- Altman Z
- 6.40
- Book Value
- 275.00
Cash Flow
- FCF Yield
- 0.62%
- FCF Positive Y
- 6/5
- OCF
- 105.00 Cr
- EPS TTM
- 31.68
Shareholding
- Promoter Hold
- 63.31%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 66%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 904+18.9% vs prev
Net Profit
₹ CrLatest: 66.0+8.2% vs prev
Return on Equity
%Latest: 11.4-6.0% 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 uptrend intact. RSI 28. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~4.7% over last month) — short-term momentum negative.
- RSI(14) at 28 — oversold zone; bounce conditions.
- MACD below signal but histogram contracting — bearish momentum easing.
- 23% off 52W high · 30% 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
64
RS percentile
Stage 1 Base / Transition
1M return
-18.3%
3M return
+4.0%
6M return
+3.2%
1Y return
-2.5%
RS 1D
0
RS 20D
-15
Sector rank
#1
Industry rank
#11
Stage evidence
- Price is within 1.6% of the 30-week proxy.
- The 30-week proxy changed +4.3% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 101.19-0.21%
RS vs Nifty 500101
Valuation & peers
U-Score 49 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 49 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation10/30
Growth15/25
Quality4/20
Balance Sheet11/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
49
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
49/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 36.4%.
- Balance sheet contributes 11/15 to the score.
Main drags
- Quality is weaker at 4/20; verify the latest quarterly trend.
- Valuation is weaker at 10/30; 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
31.6
PB
3.7
EV/EBITDA
15.7
ROE
12.2%
ROCE
15.9%
FCF Yield
0.6%
Debt/Equity
0.1
MoS
+36.4%
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
49
Previous: 48 (+1)
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+36.4%
Previous: +36.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
47
48
48
48
48
48
48
48
48
48
48
48
Factor attribution
Valuation
10+1
was 9
Modelled fair value
Graham Number
₹442.74
-104.7% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹1,425.6
+36.4% MoS
PEG
1.34
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
BETA
Small
Beta Drugs Limited
Pharmaceuticals
match 167
44
48.7
18.8%
+13%
WATCHLIST
AHCL
Small
Anlon Healthcare Limited
Pharmaceuticals
match 165
41
52.5
18.4%
-11%
WATCHLIST
ALEMBICLTD
Small
Alembic Limited
Pharmaceuticals
match 164
58
8.4
13.0%
-21%
FAIR VALUE
JAGSNPHARM
Small
Jagsonpal Pharmaceuticals Limited
Pharmaceuticals
match 164
58
32.2
17.3%
+29%
FAIR VALUE
KOPRAN
Small
Kopran Limited
Pharmaceuticals
match 162
22
51.9
4.9%
-1785%
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
Issuer presentation review pending
Windlas Biotech Limited operates in Formulations, within the Pharma sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
79Limited 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 88th percentile of the scored universe and 83rd 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
88 docs text-extracted · 40 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
88th percentile
overall median 67 · Pharma: 83rd pctile, median 70 · Small: 90th pctile, median 66
Evidence depth
Financial-only
88 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
96
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
61
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 63.3%.
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 1.3%.
- ▸FCF yield is positive at 0.6%.
Trust risks
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Windlas Biotech Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Jul - Windlas Biotech to hold virtual group analyst/institutional investor meeting on July 14, 2026.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Jun - Windlas Biotech to meet Vara Capital and Apricus Wealth on July 2, 2026, in-person.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Jun - Windlas Biotech schedules virtual analyst meetings with Trust Mutual Fund, Baring PE, Vaikarya, and UT Mutual Fund in July 2026.
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 1 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 21 May - Windlas Biotech reported FY26 revenue of Rs 904 Cr, up 19%; Q4 revenue Rs 238 Cr, plant-6 mechanically completed.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Jul - Newspaper Advertisement of completion of despatch of the Notice of 25th Annual General Meeting and Annual Report for the financial year 2025-2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.