Incorporated in 1995, Ind-Swift Laboratories Ltd (ISLL) is a prominent player in the Bulk Drugs & Pharmaceuticals sector. Established on January 4, 1995, as a joint venture between Ind-Swift Ltd and Punjab State Industrial Development Corporation, the company operates under the ticker symbol INDSWFTLAB. As of June 20, 2025, it holds a market capitalization of ₹640 Crore.
ISLL is a global manufacturer of Active Pharmaceutical Ingredients (APIs), Intermediates, and formulations, achieved through robust group collaboration. It caters to the API requirements of highly regulated markets, including those overseen by USFDA, EDQM, PMDA, ANVISA, EU-GMP, KFDA, NMO, ANSM, Cofepris, TGA, WHO, and others. The company is also recognized among the Fortune 500 list of Pharma Companies in India.
Ind-Swift Laboratories Ltd is involved in all stages of drug substance/product development, from new chemical/molecular research to formulation development. The company manufactures APIs used in a wide range of therapeutic areas, including:
- Cardiovascular health
- Antihistamine
- Antidiabetic
- Antipsychotic
- Antimigraine
- Parkinson's Disease
- Antineoplastic
- ADHD Symptoms
- Analgesics
- Alcohol Abstinence
- Bone Resorption Inhibitor
The company holds global leadership positions in the Macrolide Antibiotic segment. ISLL serves as an API partner for numerous organizations in both generic and innovative domains. It also offers reference standards and impurities for various active pharmaceutical ingredients (APIs) under British Pharmacopoeia (BP), European Pharmacopoeia (EP), and other global standards.
Based in Chandigarh, India, Ind-Swift Laboratories operates two advanced manufacturing facilities located in Derabassi and Jammu, both adhering to international quality standards. In April 2006, the company inaugurated new manufacturing facilities in Baddi, Himachal Pradesh, dedicated to the production of tablets, injectables, and liquids. The company's manufacturing capabilities have expanded significantly over the years, with production capacity increasing from 255.88 TPA in 2006-07 to 418.18 TPA in 2007-08.
During 2010, the company expanded its global footprint by incorporating two new subsidiaries: M/s Ind-Swift Middle East FZE, UAE (in Dubai) and M/s Ind-Swift Laboratories Pte Ltd., Singapore. It also entered into a joint venture with Farayand Chemi Hakim Co, a private joint stock company registered under Iranian law, to focus on marketing products in the Middle East and Iran. Ind-Swift Laboratories Ltd. is globally recognized as a leader in the Macrolide Antibiotic sector, with its products highly regarded by major pharmaceutical formulators worldwide, underscoring its significant international export presence.
Ind-Swift Laboratories Ltd has encountered significant financial challenges in recent quarters.
- Q3 FY2024-25: Revenue fell by -92.37% year-over-year to ₹22.48 Crore. Net profit fell by -99.95% year-over-year to ₹0.01 Crore.
- Q2 FY2024-25 (September quarter): Net profit declined by 98.70% to ₹0.41 Crore compared to ₹31.66 Crore in Q2 FY2023-24. Sales declined by 95.87% to ₹11.96 Crore compared to ₹289.71 Crore in Q2 FY2023-24.
- Revenue (TTM): ₹447 Crore (This figure seems inconsistent with quarterly reports. Based on available data, the TTM revenue as of 31-Dec-2024 was $53.4M.)
- Profit (TTM): ₹354 Crore (This figure seems inconsistent with quarterly reports. TTM profit after tax was ₹240 Crore.)
- Market Capitalization: ₹640 Crore (as of 20-Jun-2025)
The company has successfully reduced its debt and is currently almost debt-free, which is a significant positive for its financial stability. Despite reporting repeated profits, the company is not currently paying out dividends. There is no promoter pledging in Ind-Swift Laboratories Ltd.
The promoter of Ind-Swift Laboratories Ltd is ESSIX BIOSCIENCES LIMITED, which holds 40.9% of the total equity (as of the last reported quarter, with a decrease of -1.06% over the previous quarter). The chairman and managing director of the company is Navrattan Munjal.
Recent shareholding developments include:
- Essix Biosciences acquired 11 lakh shares via warrant conversion, increasing the promoter stake to 34.86% (at that time).
- Zeal Global Opportunities Fund increased its stake in Ind-Swift from 2.53% to 5.95% via warrant conversion.
Ind-Swift Laboratories has undertaken several corporate actions:
- Board Committee Reconstitution: Effective July 5, 2025, the company reconstituted its board committees, appointing new chairpersons and members.
- Director Appointments: The company appointed two new Independent Directors, while the tenure of one director ended on July 4, 2025.
As of May 07, 2025:
- 52-week High: ₹186.00
- 52-week Low: ₹69.55
- Latest PE Ratio: 5.61
- Latest PB Ratio: 2.24
Ind-Swift Laboratories Limited stands as a significant player in the API and pharmaceutical manufacturing sector, boasting strong regulatory approvals and a global market presence. Despite recent financial challenges, the company's established manufacturing capabilities, diverse product portfolio, and reduced debt position it as a key participant in the pharmaceutical industry.
