New Risk • Aug 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.8% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.0% average weekly change). Negative equity (-₹4.0b). High level of non-cash earnings (93% accrual ratio). Market cap is less than US$10m (₹850.4m market cap, or US$9.78m). Duyuru • Aug 09
Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) Completed the acquisition of Ind-Swift Limited (BSE:524652). Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) agreed to acquire Ind-Swift Limited (BSE:524652) for INR 708 million on September 25, 2023. The above-mentioned Scheme shall be subject to the approval of the BSE Limited, National Stock Exchange of India Limited, Securities Exchange Board of India, National Company Law Tribunal, Shareholders and Creditors of both the Companies and other Specific Sectoral Regulator. The Board of Directors of Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) and Ind-Swift Limited (BSE:524652) in their meeting held on September 25, 2023, has considered and approved the Scheme of Arrangement for Amalgamation of Ind Swift Limited with Ind Swift Laboratories Limited. The proceeds of the said sale shall be used primarily to repay its debt and to discharge other financial obligations. As of May 15, 2025, Company had filed Second motion Petition before the Hon’ble National Company Law Tribunal (NCLT), Chandigarh Bench-II for the approval of the Scheme of Arrangement for Amalgamation of Ind Swift Limited (“Transferor Company”) with Ind Swift Laboratories Limited (“Transferee Company”) (“Scheme”). The matter was listed for hearing today i.e. May 15, 2025 before the Hon’ble tribunal for discussion on reports submitted by statutory authorities and further approval of scheme by the Hon’ble NCLT Chandigarh Bench. As of July 8, 2025 both the companies have filed Form No. INC-28 with Registrar of Companies (ROC) today.
3Dimension Capital Services Limited and Ekadrisht Capital Private Limited acted as fairness provider to Ind-Swift Laboratories Limited and Ind-Swift Limited respectively.
Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) Completed the acquisition of Ind-Swift Limited (BSE:524652) on August 8, 2025. New Risk • Aug 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹867.2m (US$9.88m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.8% operating cash flow to total debt). Negative equity (-₹4.0b). High level of non-cash earnings (93% accrual ratio). Market cap is less than US$10m (₹867.2m market cap, or US$9.88m). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). New Risk • Jul 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.8% operating cash flow to total debt). Negative equity (-₹4.0b). High level of non-cash earnings (93% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (₹1.02b market cap, or US$11.9m). New Risk • Jun 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 93% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Negative equity (-₹4.0b). High level of non-cash earnings (93% accrual ratio). Minor Risk Market cap is less than US$100m (₹900.2m market cap, or US$10.5m). Reported Earnings • Jun 26
Full year 2025 earnings released: EPS: ₹52.33 (vs ₹2.63 in FY 2024) Full year 2025 results: EPS: ₹52.33 (up from ₹2.63 in FY 2024). Revenue: ₹5.63b (up 12% from FY 2024). Net income: ₹2.83b (up ₹2.69b from FY 2024). Profit margin: 50% (up from 2.8% in FY 2024). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Duyuru • May 23
Ind-Swift Limited to Report Q4, 2025 Results on May 30, 2025 Ind-Swift Limited announced that they will report Q4, 2025 results on May 30, 2025 Duyuru • Feb 20
Ind-Swift Limited Appoints Anil Agrawal as Chief Operating Officer Ind-Swift Limited announced that Mr. Anil Agrawal, has been appointed as "Chief Operating Officer (COO)" of the Company,effective from 20 February, 2025. Mr. Anil Agrawal Is A Seasoned Professional with A Bachelor of Pharmacy Degree from Devi Ahilya Vishwavidyalaya, Indore, Mp. He Has A Rich and Diverse Experience of More Than 25 Years in Leading Pharmaceutical Operations At Some of the Most Reputed Organizations in the Industry. His Distinguished Career Includes Leadership Roles At Ranbaxy Laboratories Ltd, Dr. Reddy's Laboratories Ltd, Glenmark Pharmaceuticals Ltd, Glaxosmithkline Pharmaceuticals Ltd, Zydus Cadila Healthcare Ltd, Alembic Pharmaceuticals Ltd, Par Formulations, and Sun Pharmaceutical Industries Ltd. His Extensive Expertise in Pharmaceutical Manufacturing, Operational Efficiencies, and Business Transformation Will Be Invaluable in Elevating the company's Formulation Business to New Heights. Reported Earnings • Feb 12
Third quarter 2025 earnings released: ₹1.02 loss per share (vs ₹2.76 loss in 3Q 2024) Third quarter 2025 results: ₹1.02 loss per share (improved from ₹2.76 loss in 3Q 2024). Revenue: ₹1.20b (up 17% from 3Q 2024). Net loss: ₹55.0m (loss narrowed 63% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 07
Ind-Swift Limited to Report Q3, 2025 Results on Feb 11, 2025 Ind-Swift Limited announced that they will report Q3, 2025 results at 9:15 AM, Indian Standard Time on Feb 11, 2025 New Risk • Feb 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹866.6m (US$9.90m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-₹6.6b). High level of non-cash earnings (53% accrual ratio). Market cap is less than US$10m (₹866.6m market cap, or US$9.90m). Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹22.21, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 32x in the Pharmaceuticals industry in India. Total returns to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹33.05, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 35x in the Pharmaceuticals industry in India. Total returns to shareholders of 137% over the past three years. New Risk • Dec 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Negative equity (-₹6.6b). High level of non-cash earnings (53% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (₹1.46b market cap, or US$17.2m). Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₹27.13, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 36x in the Pharmaceuticals industry in India. Total returns to shareholders of 123% over the past three years. Reported Earnings • Nov 18
Second quarter 2025 earnings released: EPS: ₹0.76 (vs ₹1.98 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹0.76 (up from ₹1.98 loss in 2Q 2024). Revenue: ₹1.41b (up 22% from 2Q 2024). Net income: ₹41.1m (up ₹148.2m from 2Q 2024). Profit margin: 2.9% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 09
Ind-Swift Limited to Report Q2, 2025 Results on Nov 14, 2024 Ind-Swift Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹18.66, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 38x in the Pharmaceuticals industry in India. Total returns to shareholders of 66% over the past three years. Duyuru • Sep 10
Ind-Swift Limited Announces Resignation of Ginny Uppal as Company Secretary Ind-Swift Limited informed that CS Ginny Uppal (ACS- 53483) vide her letter dated September 6, 2024 has tendered her resignation from the post of Company Secretary & Compliance Officer and a Key Managerial Personnel of the Company to pursue carrier opportunity outside the company with effect from closing of business hours of September 6, 2024. Duyuru • Aug 14
Ind-Swift Limited, Annual General Meeting, Sep 30, 2024 Ind-Swift Limited, Annual General Meeting, Sep 30, 2024, at 13:30 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹5.21 (vs ₹0.44 in 1Q 2024) First quarter 2025 results: EPS: ₹5.21 (up from ₹0.44 in 1Q 2024). Revenue: ₹1.54b (up 3.5% from 1Q 2024). Net income: ₹282.4m (up ₹258.8m from 1Q 2024). Profit margin: 18% (up from 1.6% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 01
Ind-Swift Limited to Report Q1, 2025 Results on Aug 13, 2024 Ind-Swift Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹25.71, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 37x in the Pharmaceuticals industry in India. Total returns to shareholders of 196% over the past three years. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹23.05, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 35x in the Pharmaceuticals industry in India. Total returns to shareholders of 356% over the past three years. New Risk • May 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 176% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-₹6.9b). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Market cap is less than US$100m (₹1.25b market cap, or US$15.0m). New Risk • May 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 6.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-₹6.9b). Minor Risks Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (₹1.15b market cap, or US$13.8m). Reported Earnings • May 17
Full year 2024 earnings released: EPS: ₹2.63 (vs ₹4.81 in FY 2023) Full year 2024 results: EPS: ₹2.63 (down from ₹4.81 in FY 2023). Revenue: ₹5.60b (up 36% from FY 2023). Net income: ₹142.3m (down 45% from FY 2023). Profit margin: 2.5% (down from 6.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Duyuru • May 05
Ind-Swift Limited to Report Q4, 2024 Results on May 14, 2024 Ind-Swift Limited announced that they will report Q4, 2024 results on May 14, 2024 Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹21.35, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total returns to shareholders of 447% over the past three years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₹23.70, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total returns to shareholders of 451% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹19.30, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 32x in the Pharmaceuticals industry in India. Total returns to shareholders of 311% over the past three years. Duyuru • Mar 06
Ind-Swift Limited Announces Cessation of Vinay Arora as an Independent Director Ind-Swift Limited informed that Dr. Vinay Arora, has completed his second and final term of 5 (five) consecutive years as an Independent Director of the Company and consequently has ceased to be an Independent Director of the Company w.e.f. the close of business hours on March 6, 2024. Consequent to the Completion of the said second term of Dr. Vinay Arora, as an Independent Director of the Company, his membership and chairmanship in various committees of the Board also cease to exist. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹20.80, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total returns to shareholders of 420% over the past three years. Reported Earnings • Feb 16
Third quarter 2024 earnings released: ₹2.76 loss per share (vs ₹0.19 loss in 3Q 2023) Third quarter 2024 results: ₹2.76 loss per share (further deteriorated from ₹0.19 loss in 3Q 2023). Revenue: ₹1.05b (down 1.3% from 3Q 2023). Net loss: ₹149.7m (loss widened ₹139.3m from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹21.35, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 35x in the Pharmaceuticals industry in India. Total returns to shareholders of 391% over the past three years. Duyuru • Jan 30
Ind-Swift Limited to Report Q3, 2024 Results on Feb 13, 2024 Ind-Swift Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹18.80, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 31x in the Pharmaceuticals industry in India. Total returns to shareholders of 596% over the past three years. Reported Earnings • Nov 10
Second quarter 2024 earnings released: ₹1.98 loss per share (vs ₹1.96 loss in 2Q 2023) Second quarter 2024 results: ₹1.98 loss per share (further deteriorated from ₹1.96 loss in 2Q 2023). Revenue: ₹1.19b (up 15% from 2Q 2023). Net loss: ₹107.1m (loss widened 1.1% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 31
Ind-Swift Limited to Report Q2, 2024 Results on Nov 09, 2023 Ind-Swift Limited announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Oct 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹806.5m (US$9.69m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Negative equity (-₹7.0b). Market cap is less than US$10m (₹806.5m market cap, or US$9.69m). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹16.80, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 30x in the Pharmaceuticals industry in India. Total returns to shareholders of 360% over the past three years. Duyuru • Sep 27
Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) agreed to acquire Ind-Swift Limited (BSE:524652). Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) agreed to acquire Ind-Swift Limited (BSE:524652) on September 25, 2023. The above-mentioned Scheme shall be subject to the approval of the BSE Limited, National Stock Exchange of India Limited, Securities Exchange Board of India, National Company Law Tribunal, Shareholders and Creditors of both the Companies and other Specific Sectoral Regulator. The Board of Directors of Ind-Swift Laboratories Limited (NSEI:INDSWFTLAB) and Ind-Swift Limited (BSE:524652) in their meeting held on September 25, 2023, has considered and approved the Scheme of Arrangement for Amalgamation of Ind Swift Limited with Ind Swift Laboratories Limited. The proceeds of the said sale shall be used primarily to repay its debt and to discharge other financial obligations. Duyuru • Sep 01
Ind-Swift Limited, Annual General Meeting, Sep 30, 2023 Ind-Swift Limited, Annual General Meeting, Sep 30, 2023, at 13:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹16.65, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 29x in the Pharmaceuticals industry in India. Total returns to shareholders of 397% over the past three years. Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: ₹0.44 (vs ₹2.85 loss in 1Q 2023) First quarter 2024 results: EPS: ₹0.44 (up from ₹2.85 loss in 1Q 2023). Revenue: ₹1.54b (up 63% from 1Q 2023). Net income: ₹23.6m (up ₹178.0m from 1Q 2023). Profit margin: 1.5% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 01
Ind-Swift Limited to Report Q1, 2024 Results on Aug 10, 2023 Ind-Swift Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹12.80, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 282% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹10.70, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 224% over the past three years. Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: ₹4.81 (vs ₹3.70 loss in FY 2022) Full year 2023 results: EPS: ₹4.81 (up from ₹3.70 loss in FY 2022). Revenue: ₹4.23b (up 5.2% from FY 2022). Net income: ₹260.4m (up ₹460.6m from FY 2022). Profit margin: 6.2% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 17
Ind-Swift Limited to Report Q4, 2023 Results on May 30, 2023 Ind-Swift Limited announced that they will report Q4, 2023 results on May 30, 2023 Reported Earnings • Feb 14
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₹1.10b (up 5.2% from 3Q 2022). Net loss: ₹10.3m (loss narrowed 83% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 46% per year, which means it is well ahead of earnings. Duyuru • Jan 29
Ind-Swift Limited to Report Q3, 2023 Results on Feb 13, 2023 Ind-Swift Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Reported Earnings • Nov 19
Second quarter 2023 earnings released: ₹1.96 loss per share (vs ₹0.91 loss in 2Q 2022) Second quarter 2023 results: ₹1.96 loss per share (further deteriorated from ₹0.91 loss in 2Q 2022). Revenue: ₹1.05b (up 7.6% from 2Q 2022). Net loss: ₹105.9m (loss widened 115% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Non-Executive Independent Director Bhupinder Singh was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 11
First quarter 2023 earnings released: ₹2.85 loss per share (vs ₹0.66 loss in 1Q 2022) First quarter 2023 results: ₹2.85 loss per share (down from ₹0.66 loss in 1Q 2022). Revenue: ₹961.8m (up 6.4% from 1Q 2022). Net loss: ₹154.4m (loss widened 333% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Reported Earnings • Jun 02
Full year 2022 earnings released: ₹3.70 loss per share (vs ₹5.51 loss in FY 2021) Full year 2022 results: ₹3.70 loss per share (up from ₹5.51 loss in FY 2021). Revenue: ₹4.21b (up 17% from FY 2021). Net loss: ₹200.2m (loss narrowed 33% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 8 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Jagvir Ahluwalia was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹1.11 loss per share (down from ₹0.22 loss in 3Q 2021). Revenue: ₹1.07b (up 1.0% from 3Q 2021). Net loss: ₹60.4m (loss widened 407% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
First quarter 2022 earnings released: ₹0.66 loss per share (vs ₹1.64 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹964.7m (up 51% from 1Q 2021). Net loss: ₹35.7m (loss narrowed 60% from 1Q 2021). Reported Earnings • Jul 04
Full year 2021 earnings released: ₹5.50 loss per share (vs ₹3.53 loss in FY 2020) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: ₹3.65b (up 8.4% from FY 2020). Net loss: ₹298.2m (loss widened 56% from FY 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 17
Third quarter 2021 earnings released: ₹0.22 loss per share (vs ₹2.18 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₹1.06b (up 6.6% from 3Q 2020). Net loss: ₹11.9m (loss narrowed 90% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 12
New 90-day high: ₹4.40 The company is up 22% from its price of ₹3.60 on 12 October 2020. The Indian market is up 24% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 14
New 90-day low: ₹2.75 The company is down 8.0% from its price of ₹3.00 on 14 August 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is flat over the same period. Reported Earnings • Nov 12
Second quarter 2021 earnings released: ₹0.42 loss per share The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: ₹983.8m (down 1.1% from 2Q 2020). Net loss: ₹22.9m (loss narrowed 81% from 2Q 2020). 
