Sai Life Sciences
Sai Life Sciences
HealthcareKey Fundamentals
SmallcapPharmaceuticalsHealthcareTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has delivered good profit growth of 42.2% CAGR over last 5 years
Weaknesses
4- Stock is trading at 13.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.7% over last 3 years.
- Working capital days have increased from 49.2 days to 69.8 days
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoSai Life Sciences Ltd is a healthcare CDMO with a market cap of ₹33,748 Cr, trading at a PE of 93.5x and 13.6x book value. The company has delivered strong profit growth of 42% CAGR over five years and 22% sales CAGR over three years, but carries a relatively modest ROE of 15% for the last year and pays no dividend.
- Strong 5-year compounded profit growth of 42% CAGR indicates consistent earnings expansion in the CDMO space
- TTM profit growth of 51% shows accelerating earnings momentum in the most recent period
- 5-year compounded sales CAGR of 24% reflects robust and sustained top-line growth
- 3-year compounded sales CAGR of 22% demonstrates that revenue growth has remained healthy even in recent years
- ROE has improved from a 5-year average of 9% to 13% over 3 years and 15% in the last year, showing a clear upward trajectory in capital efficiency
- Stock has delivered 83% returns over the past 1 year, reflecting strong market confidence and momentum
- TTM sales growth of 18% continues to track well above GDP growth, suggesting the company is gaining market share or benefiting from sectoral tailwinds
- PE ratio of 93.5x is extremely elevated, pricing in significant future growth and leaving little margin of safety
- Price-to-book of 13.6x is very high, meaning investors are paying a steep premium over the company's net asset value
- Zero dividend yield despite repeated profitability suggests shareholders receive no income return on their investment
- 3-year average ROE of approximately 12.7% is modest for a company commanding such a high valuation multiple
- Working capital days have increased from 49.2 to 69.8 days, indicating deteriorating cash conversion efficiency and more capital tied up in operations
- TTM sales growth of 18% has decelerated from the 3-year CAGR of 22% and 5-year CAGR of 24%, suggesting a potential growth slowdown
- At 93.5x earnings, even a minor miss on growth expectations could lead to a sharp derating of the stock
- Limited long-term track record data — 10-year growth figures for sales, profit, ROE, and stock CAGR are unavailable, making it harder to assess durability of performance
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- Dual investor conference presence Sep 4
Sai Life Sciences will present at the Morgan Stanley Global Healthcare Conference in New York on Sep 14 and the Jefferies 5th India Forum in Gurugram on Sep 18, 2026, signaling active institutional engagement.
- FY26 BRSR and ESG filing Aug 25
Filed its Business Responsibility and Sustainability Report and ESG Databook for FY26 on Aug 25, disclosing environmental metrics, employee data, and governance information.
- 27th AGM scheduled Sep 17 Aug 24
AGM set for Sep 17, 2026 via VC/OAVM with remote e-voting open Sep 14-16 and a record date of Sep 10.
TL;DR: A quiet period for Sai Life Sciences with no material business updates — all recent news is routine corporate housekeeping including investor conference participation, ESG filings, and AGM scheduling. The back-to-back presence at Morgan Stanley and Jefferies conferences suggests management is actively courting institutional interest. No headwinds or catalysts are visible in this batch; watch the Sep 14-18 conference window for any forward-looking commentary from management.
Quarterly Results
| Particulars | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 384 | 439 | 280 | 396 | 440 | 580 | 496 | 537 | 556 | 602 | 554 |
| Expenses | 287 | 315 | 254 | 293 | 320 | 422 | 375 | 392 | 369 | 426 | 406 |
| Operating Profit | 96 | 125 | 26 | 102 | 120 | 158 | 121 | 146 | 188 | 177 | 148 |
| OPM % | 25% | 28% | 9% | 26% | 27% | 27% | 24% | 27% | 34% | 29% | 27% |
| Other Income | 11 | 3 | 8 | 10 | 9 | 10 | 10 | 15 | 0 | 16 | 4 |
| Interest | 23 | 21 | 21 | 21 | 23 | 11 | 12 | 9 | 10 | 8 | 8 |
| Depreciation | 31 | 31 | 31 | 36 | 34 | 37 | 38 | 40 | 44 | 45 | 46 |
| PBT | 53 | 76 | -18 | 55 | 72 | 119 | 81 | 112 | 134 | 139 | 98 |
| Tax % | 25% | 26% | -25% | 25% | 25% | 26% | 25% | 25% | 25% | 25% | 25% |
| Net Profit | 40 | 56 | -14 | 42 | 54 | 88 | 60 | 84 | 100 | 104 | 73 |
| EPS in Rs | — | — | — | — | 2.59 | 4.24 | 2.9 | 4 | 4.75 | 4.92 | 3.45 |
Profit & Loss
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 695 | 726 | 760 | 870 | 1,217 | 1,465 | 1,695 | 2,192 | 2,250 |
| Expenses | 520 | 558 | 593 | 743 | 1,048 | 1,178 | 1,285 | 1,559 | 1,592 |
| Operating Profit | 176 | 168 | 167 | 126 | 169 | 287 | 410 | 634 | 658 |
| OPM % | 25% | 23% | 22% | 15% | 14% | 20% | 24% | 29% | 29% |
| Other Income | 6 | 18 | 27 | 28 | 27 | 29 | 35 | 40 | 35 |
| Interest | 24 | 22 | 33 | 54 | 81 | 88 | 78 | 41 | 35 |
| Depreciation | 44 | 55 | 80 | 90 | 99 | 119 | 139 | 167 | 175 |
| PBT | 113 | 109 | 82 | 10 | 16 | 109 | 228 | 466 | 483 |
| Tax % | 35% | 30% | 25% | 36% | 39% | 24% | 25% | 25% | — |
| Net Profit | 73 | 76 | 61 | 6 | 10 | 83 | 170 | 349 | 362 |
| EPS in Rs | — | — | — | — | — | — | 8.16 | 16.48 | 17.12 |
| Div. Payout % | 0% | 0% | 0% | 1117% | 676% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 17 | 18 | 18 | 18 | 21 | 21 |
| Reserves | 703 | 778 | 845 | 861 | 870 | 957 | 2,108 | 2,463 |
| Borrowings | 249 | 304 | 637 | 752 | 933 | 928 | 352 | 288 |
| Other Liabilities | 247 | 312 | 318 | 527 | 358 | 359 | 665 | 841 |
| Total Liabilities | 1,215 | 1,410 | 1,817 | 2,157 | 2,179 | 2,262 | 3,146 | 3,613 |
| Fixed Assets | 373 | 641 | 701 | 751 | 1,037 | 1,180 | 1,488 | 1,815 |
| CWIP | 116 | 91 | 246 | 410 | 151 | 107 | 124 | 270 |
| Investments | 0 | 0 | 0 | 0 | 2 | 2 | 2 | 50 |
| Other Assets | 726 | 679 | 870 | 997 | 989 | 973 | 1,531 | 1,477 |
| Total Assets | 1,215 | 1,410 | 1,817 | 2,157 | 2,179 | 2,262 | 3,146 | 3,613 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | 129 | 116 | -36 | 105 | 219 | 263 | 314 | 509 |
| Investing | -158 | -262 | -260 | -102 | -99 | -191 | -536 | -395 |
| Financing | 268 | -4 | 296 | 72 | -201 | -95 | 301 | -124 |
| Net Cash Flow | 239 | -150 | -1 | 75 | -80 | -24 | 79 | -9 |
| Free Cash Flow | -28 | -157 | -298 | -102 | 148 | 82 | -55 | -83 |
| CFO/OP | 90 | 81 | -13 | 90 | 132 | 96 | 82 | 86 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 123 | 136 | 99 | 102 | 85 | 64 | 76 | 62 |
| Inventory Days | 86 | 79 | 127 | 179 | 121 | 72 | 93 | 97 |
| Days Payable | 207 | 258 | 230 | 279 | 180 | 113 | 253 | 182 |
| Cash Conversion Cycle | 1 | -43 | -4 | 2 | 25 | 22 | -83 | -24 |
| Working Capital Days | 55 | 24 | 62 | 42 | 36 | 12 | 66 | 70 |
| ROCE % | — | 13% | 9% | 3% | 6% | 11% | 14% | 20% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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59 extracted metrics + investor summaries across FY19–FY26.
Documents
Frequently Asked Questions about Sai Life Sciences
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Company Information
Incorporated in 1999, Sai Life Sciences Ltd carries out contract research and manufacturing activities for customers engaged in pharmaceutical and bio technology industries[1]
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