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Sai Life Sciences

SAILIFE NSE
₹1,546.10 −12.10 (−0.78%)
P/E
90.31
View as Markdown
MCP
Close 4 Nov 2026 ₹1,546.10 +623.80 +67.6% 1Y
Start ₹922.30

Key Fundamentals

SmallcapPharmaceuticals & BiotechnologyHealthcare

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
19.60%
Debt to Equity
0.12
EPS (TTM)
₹17.12
Book Value
₹116.90
Market Cap
—
P/E (TTM)
90.31
P/B
13.23
ROE
15.40%
Dividend Yield
0.00%
EBITDA
₹680 Cr
52W High
₹1,697.00
52W Low
₹783.85
Day Range
₹1,504.00 – ₹1,555.70
Volume
3,25,247

Peer Comparison

Healthcare › Pharmaceuticals

Sai Life Sciences peer comparison
Sun Pharma
₹1,773.4038.81₹4,29,049 Cr4.770.90%16.00%20.50%₹61,631 Cr₹10,987 Cr
Divis Laboratories
₹10,037.5091.10₹2,65,269 Cr15.900.30%16.50%22.00%₹11,230 Cr₹2,925 Cr
Torrent Pharmaceuticals
₹4,738.5078.61₹1,77,061 Cr9.810.82%27.40%15.20%₹17,400 Cr₹2,099 Cr
Zydus Life Science
₹1,188.1026.44₹1,25,446 Cr4.370.08%21.20%21.10%₹28,592 Cr₹4,593 Cr
Laurus Labs
₹2,323.80114.81₹1,25,228 Cr20.720.04%18.30%17.80%₹7,270 Cr₹1,090 Cr
Dr Reddys Laboratories
₹1,374.0035.59₹1,14,543 Cr2.960.58%11.20%13.00%₹33,228 Cr₹3,184 Cr
Cipla
₹1,402.0033.59₹1,12,454 Cr3.200.93%11.60%15.50%₹28,324 Cr₹3,356 Cr
Sai Life Sciences (this company)
₹1,546.1090.31₹32,405 Cr13.230.00%15.40%19.60%₹2,250 Cr₹361 Cr
Median 8 companies₹1,659.7558.71₹1,25,337 Cr7.290.44%16.25%18.70%₹22,862 Cr₹3,055 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

42 Weak

Data confidence 100/100

Category scores

Quality
49
Average
Returns, margins, earnings quality 22% weight
Valuation
18
Poor
Cheap vs sector & own history 24% weight
Growth
52
Average
Sales & profit trajectory 9% weight
Financial Health
68
Strong
Solvency, leverage, coverage 9% weight
Momentum
72
Strong
Trend strength, vol-adjusted 12% weight
Ownership
32
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 42.2% CAGR over last 5 years

Weaknesses

4
  • Stock is trading at 11.8 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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3412
OscillatorsBearish342
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
59.34
Neutral
MACD (12,26,9)
7.41
Bullish
SMA (50)
1,520.84
Bullish
SMA (200)
1,204.95
Bullish

As of

Analyst Rating

Based on 5 analysts
BUY100%

5 of 5 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
5
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+23.60%
3Y+21.67%
1Y+29.32%
TTM+17.63%

Net profit

Net profit growth by window
5Y+41.74%
3Y+226.79%
1Y+105.29%
TTM+47.95%

Operating cash flow

Operating cash flow growth by window
5YTurned positive
3Y+32.46%
1Y+62.10%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+6.95 pp
3Y+15.03 pp
1Y+4.73 pp
TTM+3.10 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹695 Cr
Mar 2020₹726 Cr
Mar 2021₹760 Cr
Mar 2022₹870 Cr
Mar 2023₹1,217 Cr
Mar 2024₹1,465 Cr
Mar 2025₹1,695 Cr
Mar 2026₹2,192 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹73.00 Cr
Mar 2020₹76.00 Cr
Mar 2021₹61.00 Cr
Mar 2022₹6.00 Cr
Mar 2023₹10.00 Cr
Mar 2024₹83.00 Cr
Mar 2025₹170 Cr
Mar 2026₹349 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹154 Cr +1.4% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Sai Life Sciences Ltd trades at ₹1,558.2 as of 2026-11-03 with a market cap of ₹32,621.63 crore and a trailing PE of 91.02. The company has demonstrated strong profit growth at a 42% CAGR over five years and maintains a conservative balance sheet with a debt-to-equity ratio of 0.12, but its premium valuation and zero dividend payout warrant careful scrutiny.

Bull Case 7
  • Compounded profit growth of 42% CAGR over the last 5 years signals a strong and sustained earnings trajectory in the CDMO/pharma services space.
  • TTM profit growth of 51% indicates the earnings momentum is accelerating rather than tapering off.
  • Very low debt-to-equity ratio of 0.12 provides significant financial flexibility and reduces balance sheet risk.
  • Compounded sales growth of 24% over 5 years and 22% over 3 years reflects consistent revenue expansion across cycles.
  • ROCE of 18.1% suggests the company is generating reasonable returns on its total capital employed, supporting reinvestment-led growth.
  • The stock has delivered a 1-year CAGR of 58%, having risen from a 52-week low of ₹783.85, reflecting strong market recognition of the business trajectory.
  • ROE improved to 15% in the last year compared to a 3-year average of 13%, indicating an upward trend in shareholder return efficiency.
Bear Case 6
  • The stock trades at 13.33 times book value, well above typical healthcare sector multiples, making valuation a key risk.
  • Zero dividend yield despite repeated profitability means shareholders are entirely dependent on capital appreciation for returns.
  • Working capital days have increased from 49.2 to 69.8 days, suggesting deteriorating cash conversion efficiency and potential strain on operating cash flows.
  • The 3-year average ROE of 13% is modest relative to the premium valuation, indicating the market is paying a steep price for each unit of equity return.
  • TTM sales growth of 18% has decelerated from the 3-year CAGR of 22% and 5-year CAGR of 24%, hinting at potential revenue growth moderation.
  • EPS of ₹17.12 against a share price of ₹1,558.2 translates to an earnings yield of roughly 1.1%, well below risk-free rates, underscoring the stretched valuation.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

2d ago

TL;DR: Sai Life Sciences is executing well as a pure-play integrated CRDMO — 29% revenue growth, PAT margins expanding to 16%, and a virtually debt-free balance sheet with 18.2% ROCE. Key risks are China's dominant market share in CRDMO, the capital intensity of the FY27 expansion cycle, and the ongoing AI disruption in drug discovery. The trend is clearly improving, with rising cross-service penetration and a move into high-value modalities like ADCs and peptides, though sustaining premium valuations will require continued flawless execution on the nearly doubled capex program.

Headwinds 3
  • China dominates CRDMO market Oct 04

    China controls 18-21% of the global CRDMO market versus India's 2-3%, creating a significant competitive disadvantage on pricing and capacity.

  • AI disrupting discovery models Oct 04

    Virtual screening and molecular design threaten traditional laboratory-based discovery. While >65% of Sai's discovery programs integrate AI and automation, this is an ongoing arms race requiring continuous investment.

  • Heavy capex cycle ahead Oct 04

    FY27 capex of ₹1,100-1,300 crore is nearly double the ₹633 crore spent in FY26, with 75% allocated to capacity expansion and 25% to capabilities and AI.

Positives 7
  • Strong revenue and PAT growth Oct 04

    Sai Life Sciences delivered 29% revenue growth to ₹2,192 crore in FY25, with PAT margins jumping to 16% from 10% the prior year.

  • Near-zero debt balance sheet Oct 04

    Net debt-to-EBITDA stands at just 0.04x with interest coverage of 13.36-16.76x, giving the company significant financial flexibility versus leveraged peers.

  • High cross-service stickiness Oct 04

    Over 65% of revenues come from multi-service customers and >65% of discovery programs are integrated, creating strong client retention and switching costs.

Neutral 2
  • CDMO-heavy revenue split Oct 04

    CDMO contributes 64-66% of revenue and CRO 34-36%, with 30 commercial molecules and 40+ clinical-stage programs in the pipeline.

  • Premium valuation reflects execution Oct 04

    The market is pricing in Sai's predictability and financial discipline, with the stock trading at premium valuations after a 70% rise in 2026.

Quarterly Results

₹ Cr
SAILIFE quarterly results, ₹ crore
Particulars Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 (₹)
—
—
—
—
2.59
4.24
2.9
4
4.75
4.92
3.45

Profit & Loss

₹ Cr
SAILIFE profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
39.24
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 (₹)
—
—
—
—
—
—
8.16
16.48
17.12
Div. Payout %
0%
0%
0%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
676%
0%
0%
0%
—

Balance Sheet

₹ Cr
SAILIFE balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
SAILIFE cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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/EBITDA
90
81
−13
90
132
96
82
86

Ratios

SAILIFE financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Sai Life Sciences insights

65 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 34.50%
  • DIIs 32.32%
  • FIIs 19.91%
  • Public 7.21%
  • Others 6.05%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Sai Life Sciences

What does Sai Life Sciences Ltd do?
Incorporated in 1999, Sai Life Sciences Ltd carries out contract research and manufacturing activities for customers engaged in pharmaceutical and bio technology industries
Where is Sai Life Sciences Ltd (SAILIFE) listed?
Sai Life Sciences Ltd trades as SAILIFE on the NSE and under code 544306 on the BSE.
Which sector does Sai Life Sciences Ltd belong to?
Sai Life Sciences Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the PE ratio of Sai Life Sciences Ltd?
Sai Life Sciences Ltd trades at a PE ratio of 90.31 as of 4 Nov 2026, on earnings per share of ₹17.12, against a book value of ₹116.9 per share.
What is the 52-week high and low of Sai Life Sciences Ltd?
Over the last 52 weeks Sai Life Sciences Ltd has traded between ₹783.85 and ₹1,697 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Sai Life Sciences Ltd?
Sai Life Sciences Ltd reported a return on equity of 15.40%. Its debt-to-equity ratio is 0.12.

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

Website sailife.com
Listed 18 Dec 2024
Face Value ₹1

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