Sai Life Sciences Ltd
SAILIFE NSE
Sai Life Sciences Ltd
HealthcareNSE: SAILIFE BSE: 544306 Pharmaceuticals & Biotechnology
Incorporated in 1999, Sai Life Sciences Ltd carries out contract research and manufacturing activities for customers engaged in pharmaceutical and bio technology industries[1]
AI Verdict: HOLD Confidence: 5%
Sai Life Sciences is a high-growth CDMO with 29% TTM sales growth and 107% TTM profit growth, backed by unanimous analyst buy ratings. However, at 73.1x PE and 10.27x book value with zero dividends and deteriorating working capital, the valuation leaves little margin of safety for new entrants.
Key Fundamentals
SmallcapPharmaceuticalsHealthcareMarket Cap
₹25,467 Cr
Volatility
Moderate
P/E Ratio
73.71
EBITDA
₹623 Cr
Debt to Equity
0.41
Book Value
₹117
52W High
₹1,249
52W Low
₹736.5
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 10.3 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
Revenue Growth
26.64% ↗
Net Income Growth
122.10% ↗
Cash Flow Change
19.37% ↗
ROE
-5.89% ↘
ROCE
-1.49% ↘
EBITDA Margin (Avg.)
8.81% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 1d agoHOLD
Risk high
Sai Life Sciences is a high-growth CDMO with 29% TTM sales growth and 107% TTM profit growth, backed by unanimous analyst buy ratings. However, at 73.1x PE and 10.27x book value with zero dividends and deteriorating working capital, the valuation leaves little margin of safety for new entrants.
Bull Case 7
- Exceptional profit growth with 5-year CAGR of 42.2% and TTM profit growth of 107%, indicating strong operating leverage
- Robust revenue growth with 5-year compounded sales CAGR of 24% and TTM sales growth accelerating to 29%
- Unanimous analyst consensus with 100% buy ratings from all 5 covering analysts, signaling strong institutional conviction
- ROE improving from 9% (5-year average) to 15% last year, showing improving capital efficiency
- Stock has delivered 59% returns over 1 year, reflecting strong price momentum and market confidence
- Market cap of Rs 26,166 Cr positions the company as a credible mid-cap CDMO player with scale advantages
- 3-year compounded profit CAGR of 226% demonstrates the business is at an earnings inflection point
Bear Case 8
- Stock trades at 73.1x PE, a steep premium even by healthcare CDMO standards, pricing in years of future growth
- Price-to-book ratio of 10.27x is extremely elevated, offering no valuation comfort on an asset basis
- Zero dividend yield despite repeated profitability suggests poor capital return policy for shareholders
- Working capital days deteriorated from 51.8 to 77.6 days, a 50% increase indicating potential cash conversion issues
- 3-year average ROE of only 12.7% is modest for a stock commanding such premium multiples
- No 52-week high/low data available makes technical risk assessment difficult for position sizing
- Debt-to-equity ratio unavailable raises transparency concerns about balance sheet leverage post-IPO
- 5-year ROE average of just 9% suggests the recent profitability uptick may not be structurally sustainable
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 14h ago Neutral 3
- Goldman Sachs analyst meeting Jun 10
Sai Life Sciences scheduled a meeting with Goldman Sachs analyst group in Hyderabad on June 11, 2026. No unpublished price sensitive information to be discussed.
- Active investor engagement May 27
Company lined up meetings with Morgan Stanley and Citi conferences in Mumbai on June 3-4, 2026, signaling continued institutional outreach.
- No promoter share encumbrance Jun 5
Promoters confirmed zero encumbrance of shares throughout FY26 under SEBI takeover regulation disclosures.
TL;DR: Sai Life Sciences shows no material positive or negative catalysts in recent news flow. The company is actively engaging top-tier institutional investors including Goldman Sachs, Morgan Stanley, and Citi, which signals management confidence and investor interest. Clean promoter holding with no encumbrance is a governance positive. The near-term outlook depends on upcoming quarterly results and any business updates shared during these investor interactions.
Quarterly Results
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 384 | 439 | 280 | 396 | 440 | 580 | 496 | 537 | 556 | 602 |
| Expenses | 287 | 315 | 254 | 293 | 320 | 422 | 375 | 392 | 369 | 426 |
| Operating Profit | 96 | 125 | 26 | 102 | 120 | 158 | 121 | 146 | 188 | 177 |
| OPM % | 25% | 28% | 9% | 26% | 27% | 27% | 24% | 27% | 34% | 29% |
| Other Income | 11 | 3 | 8 | 10 | 9 | 10 | 10 | 15 | 0 | 16 |
| Interest | 23 | 21 | 21 | 21 | 23 | 11 | 12 | 9 | 10 | 8 |
| Depreciation | 31 | 31 | 31 | 36 | 34 | 37 | 38 | 40 | 44 | 45 |
| PBT | 53 | 76 | -18 | 55 | 72 | 119 | 81 | 112 | 134 | 139 |
| Tax % | 25% | 26% | -25% | 25% | 25% | 26% | 25% | 25% | 25% | 25% |
| Net Profit | 40 | 56 | -14 | 42 | 54 | 88 | 60 | 84 | 100 | 104 |
| EPS in Rs | — | — | — | — | 2.59 | 4.24 | 2.9 | 4 | 4.75 | 4.92 |
Profit & Loss
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 695 | 726 | 760 | 870 | 1,217 | 1,465 | 1,695 | 2,192 |
| Expenses | 520 | 558 | 593 | 743 | 1,048 | 1,178 | 1,285 | 1,561 |
| Operating Profit | 176 | 168 | 167 | 126 | 169 | 287 | 410 | 631 |
| OPM % | 25% | 23% | 22% | 15% | 14% | 20% | 24% | 29% |
| Other Income | 6 | 18 | 27 | 28 | 27 | 29 | 35 | 41 |
| Interest | 24 | 22 | 33 | 54 | 81 | 88 | 78 | 39 |
| Depreciation | 44 | 55 | 80 | 90 | 99 | 119 | 139 | 167 |
| PBT | 113 | 109 | 82 | 10 | 16 | 109 | 228 | 466 |
| Tax % | 35% | 30% | 25% | 36% | 39% | 24% | 25% | 25% |
| Net Profit | 73 | 76 | 61 | 6 | 10 | 83 | 170 | 349 |
| EPS in Rs | — | — | — | — | — | — | 8.16 | 16.48 |
| 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
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
15h - Earnings conference call invite for the quarter and year ended Financial Results ended on 31 March, 2026 15h - Earnings conference call invite for the quarter and year ended Financial Results ended on 31 March, 2026
2
Announcement under Regulation 30 (LODR)-Press Release / Media Release
10h - Sai Life Sciences' Bidar campus achieved 100% renewable electricity on 11 May 2026; 97% direct solar/wind, 35,110 tCO₂ saved. 10h - Sai Life Sciences' Bidar campus achieved 100% renewable electricity on 11 May 2026; 97% direct solar/wind, 35,110 tCO₂ saved.
3
Intimation Of An Order Dated 29Th April 2026 Issued By The Joint Commissioner Of Commercial Taxes (Appeals), Kalaburagi U/S 107 (11) Of The Central Goods And Services Tax Act, 2017 And The Karnataka Goods And Services Tax Act, 2017.
30 Apr - Karnataka GST appeals order demands ₹16.28 crore tax, ₹13.32 crore interest, ₹3.26 crore penalty. 30 Apr - Karnataka GST appeals order demands ₹16.28 crore tax, ₹13.32 crore interest, ₹3.26 crore penalty.
4
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
23 Apr - Allotment of 2,44,281 Equity Shares under ESOP Schemes of the Company. 23 Apr - Allotment of 2,44,281 Equity Shares under ESOP Schemes of the Company.
5
Intimation Of An Order Dated 29Th April 2026 Issued By The Joint Commissioner Of Commercial Taxes (Appeals), Kalaburagi U/S 107 (11) Of The Central Goods And Services Tax Act, 2017 And The Karnataka Goods And Services Tax Act, 2017.
30 Apr - Karnataka GST appeals order demands ₹16.28 crore tax, ₹13.32 crore interest, ₹3.26 crore penalty. 30 Apr - Karnataka GST appeals order demands ₹16.28 crore tax, ₹13.32 crore interest, ₹3.26 crore penalty.
Frequently Asked Questions about Sai Life Sciences Ltd
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[1]
Where is Sai Life Sciences Ltd (SAILIFE) listed?
Sai Life Sciences Ltd is listed on the Indian stock exchanges. It is listed on NSE: SAILIFE and BSE: 544306. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Sai Life Sciences Ltd belong to?
Sai Life Sciences Ltd operates in the Healthcare sector within the Pharmaceuticals & Biotechnology industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Sai Life Sciences Ltd?
Sai Life Sciences Ltd has a market capitalisation of approximately ₹25467.24 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Sai Life Sciences Ltd?
The Price-to-Earnings (PE) ratio of Sai Life Sciences Ltd is 73.71. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Sai Life Sciences Ltd?
Over the past 52 weeks, Sai Life Sciences Ltd has traded between a low of ₹736.5 and a high of ₹1,249. This range helps investors understand the stock's price volatility and recent trading levels.
How can I research Sai Life Sciences Ltd on Tapetide?
On Tapetide, you can view Sai Life Sciences Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
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]