Sai Life Sciences Ltd
Sai Life Sciences Ltd
HealthcareKey Fundamentals
SmallcapPharmaceuticalsHealthcareInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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39 extracted metrics + investor summaries across FY19–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company has delivered good profit growth of 42.2% CAGR over last 5 years
Weaknesses
4- Stock is trading at 12.1 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 51.8 days to 77.6 days
Growth Rate
AI Analysis — Bull vs Bear
Sai Life Sciences is a healthcare CDMO trading at a market cap of ₹30,674 Cr with a PE of 85.1x. The company has delivered strong profit growth of 42% CAGR over 5 years and 18% TTM sales growth, but trades at elevated valuations of 12.4x book value with zero dividend payout and deteriorating working capital efficiency.
- Compounded profit growth of 42% CAGR over 5 years demonstrates strong earnings momentum and scalability of the CDMO business model
- TTM profit growth of 51% indicates accelerating earnings trajectory in the most recent period
- Compounded sales growth of 24% CAGR over 5 years reflects consistent revenue expansion and growing client base
- 3-year compounded sales growth of 22% shows sustained demand for contract development and manufacturing services
- ROE improved from 9% (5-year average) to 15% in the last year, suggesting improving capital efficiency and margin expansion
- Stock has delivered 63% returns over 1 year, reflecting strong market confidence in the company's growth trajectory
- 3-year compounded profit growth of 226% indicates a sharp inflection point in profitability from a lower base, with operating leverage kicking in
- PE ratio of 85.1x is significantly elevated relative to broader market and most healthcare peers, leaving limited margin of safety
- Price-to-book ratio of 12.4x indicates the stock is trading at a steep premium to its net asset value
- Zero dividend yield despite repeated profitability suggests no capital return to shareholders
- 3-year average ROE of only 12.7% is modest for a company commanding such premium valuations
- Working capital days have increased from 51.8 days to 77.6 days, a 50% deterioration indicating potential cash conversion challenges
- 5-year average ROE of just 9% suggests historically weak returns on shareholder equity relative to the capital deployed
- At 85.1x PE, even a slight slowdown from the 51% TTM profit growth could trigger significant multiple compression
- TTM sales growth of 18% has decelerated from the 5-year CAGR of 24%, indicating potential growth moderation
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Q1FY27 profit up 22% YoY Aug 6
Standalone net profit rose 22% YoY to ₹713.39 million for Q1FY27, driven by higher revenue and lower finance costs.
- Investor meetings in Singapore Aug 4
Sai Life Sciences scheduled analyst and investor meetings for August 13-14, 2026, in Singapore at the Avendus Spark INDX-Asia Edition 2026 event.
- Q1FY27 earnings call scheduled Jul 30
Company to host Q1FY27 earnings call on August 7, 2026, to discuss unaudited financial results for the quarter ended June 30, 2026.
TL;DR: Sai Life Sciences delivered solid Q1FY27 earnings with 22% profit growth, supported by revenue expansion and reduced finance costs. No material headwinds emerged in the recent news flow. The company is actively engaging institutional investors in Asia, signaling confidence. The trend is positive with earnings momentum intact heading into FY27.
Quarterly Results
| 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
| 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 | 1,561 | 1,592 |
| Operating Profit | 176 | 168 | 167 | 126 | 169 | 287 | 410 | 631 | 658 |
| OPM % | 25% | 23% | 22% | 15% | 14% | 20% | 24% | 29% | 29% |
| Other Income | 6 | 18 | 27 | 28 | 27 | 29 | 35 | 41 | 35 |
| Interest | 24 | 22 | 33 | 54 | 81 | 88 | 78 | 39 | 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
| 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 | 854 |
| Total Liabilities | 1,215 | 1,410 | 1,817 | 2,157 | 2,179 | 2,262 | 3,146 | 3,626 |
| 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 | 1,490 |
| Total Assets | 1,215 | 1,410 | 1,817 | 2,157 | 2,179 | 2,262 | 3,146 | 3,626 |
Cash Flow
| 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 | -10 |
| Free Cash Flow | -28 | -157 | -298 | -102 | 148 | 82 | -55 | -83 |
| CFO/OP | 90 | 81 | -13 | 90 | 132 | 96 | 82 | 87 |
Ratios
| 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 | 78 |
| ROCE % | — | 13% | 9% | 3% | 6% | 11% | 14% | 20% |
Documents
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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]