---
title: "Sterling Biotech Ltd (STERLINBIO) — Share Price, Financials & Analysis"
symbol: "STERLINBIO"
company: "Sterling Biotech Ltd"
canonical: "https://tapetide.com/stocks/STERLINBIO"
sector: "Healthcare"
industry: "Pharmaceuticals & Biotechnology"
generated_at: "2026-09-13T19:39:30.756Z"
---

# Sterling Biotech Ltd (STERLINBIO)

Canonical page: https://tapetide.com/stocks/STERLINBIO

## Company

- **Sector:** Healthcare
- **Industry:** Pharmaceuticals & Biotechnology
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** sterlingbiotech.in

## About

Sterling Biotech is engaged in the manufacturing of Pharma Grade Gelatine & Di-Calcium Phosphate and other Pharma products The Company has presence in both domestic and international markets.

## Latest Price

## Key Insights

### Strengths

- Debtor days have improved from 42.9 to 32.1 days.

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 2.07% over past five years.
- Contingent liabilities of Rs.1,015 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 65% | 3% | 5% |
| revenue growth | 19% | 5% | 2% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 113 | 95 | 88 | 96 | 91 | 95 | 89 | 88 | 80 | 84 | 82 | 95 |
| Expenses | 99 | 84 | 94 | 92 | 86 | 94 | 82 | 84 | 78 | 80 | 70 | 84 |
| Operating Profit | 14 | 11 | -6 | 4 | 5 | 0 | 7 | 4 | 2 | 4 | 12 | 11 |
| OPM % | 12 | 12 | -7 | 4.4 | 5 | 0.5 | 7 | 4.4 | 2.6 | 4.5 | 15 | 12 |
| Other Income | 3 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | -765 | -3008 | 2 | 1 |
| Interest | 83 | 80 | 95 | 97 | 98 | 103 | 112 | 111 | 114 | 237 | 148 | -102 |
| Depreciation | 66 | 66 | 66 | 66 | 66 | 67 | 61 | 61 | 61 | 61 | 61 | 61 |
| Profit before tax | -132 | -134 | -167 | -158 | -158 | -167 | -165 | -168 | -938 | -3303 | -195 | 53 |
| Tax % | -35 | -35 | -35 | -35 | -29 | -35 | 0 | 0 | -40 | -30 | -30 | 30 |
| Net Profit | -86 | -88 | -110 | -103 | -112 | -110 | -165 | -168 | -563 | -2309 | -136 | 37 |
| EPS in Rs | -3.17 | -3.22 | -4.02 | -3.79 | -4.12 | -4.02 | -6.05 | -6.17 | -20.69 | -84.84 | -5 | 1.36 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 15m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 835 | 718 | 667 | 524 | 368 | 352 | 350 | 346 | 343 | 408 |
| Expenses | 687 | 623 | 587 | 460 | 356 | 338 | 306 | 536 | 305 | 461 |
| Operating Profit | 148 | 95 | 80 | 64 | 13 | 14 | 44 | -190 | 38 | -53 |
| OPM % | 18 | 13 | 12 | 12 | 3.4 | 4 | 13 | -55 | 11 | -13 |
| Other Income | 6 | 4 | 4 | 8 | 4 | -767 | -3008 | 4 | 75 | 8 |
| Interest | 412 | 438 | 470 | 415 | 370 | 440 | 259 | 0 | 0 | 2 |
| Depreciation | 259 | 254 | 277 | 345 | 264 | 246 | 246 | 246 | 245 | 243 |
| Profit before tax | -518 | -593 | -662 | -688 | -617 | -1438 | -3468 | -432 | -133 | -290 |
| Tax % | -32 | -32 | -31 | -34 | -33 | -30 | -4 | 0 | 536 | 2 |
| Net Profit | -350 | -401 | -458 | -450 | -412 | -1005 | -3330 | -432 | -844 | -295 |
| EPS in Rs | -13.06 | -14.96 | -16.82 | -16.55 | -15.15 | -36.94 | -122.36 | -15.89 | -31 | -10.85 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
| Reserves | 1844 | 1443 | 1010 | 1637 | 1249 | 249 | -4190 | -4623 | -5466 | -5760 |
| Borrowings | 4990 | 5868 | 6105 | 6568 | 6949 | 7493 | 3223 | 7969 | 7900 | 7984 |
| Other Liabilities | 223 | 61 | 70 | 129 | 130 | 109 | 4642 | 123 | 130 | 181 |
| Total Liabilities | 7084 | 7399 | 7213 | 8360 | 8355 | 7877 | 3703 | 3495 | 2591 | 2432 |
| Fixed Assets | 3633 | 3433 | 3274 | 2965 | 2726 | 2488 | 2244 | 1998 | 1760 | 1520 |
| CWIP | 1552 | 2110 | 2270 | 2450 | 2442 | 2503 | 0 | 0 | 0 | 0 |
| Investments | 377 | 377 | 169 | 1552 | 1582 | 1586 | 2 | 2 | 3 | 3 |
| Other Assets | 1522 | 1479 | 1500 | 1393 | 1604 | 1299 | 1457 | 1495 | 829 | 909 |
| Total Assets | 7084 | 7399 | 7213 | 8360 | 8355 | 7877 | 3703 | 3495 | 2591 | 2432 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 811 | 172 | 256 | 67 | 1 | -33 | 58 | 20 | 32 | 87 |
| Cash from Investing Activity | -812 | -315 | 17 | -84 | -49 | -9 | -1 | 1 | -4 | 1 |
| Cash from Financing Activity | -4 | 143 | -273 | 16 | 49 | 38 | -2 | 0 | 0 | 0 |
| Net Cash Flow | -4 | 0 | 0 | -1 | 0 | -4 | 55 | 21 | 28 | 88 |
| Free Cash Flow | 11 | -143 | 65 | -17 | -49 | -42 | 57 | 20 | 25 | 85 |
| CFO/OP | 550 | 183 | 320 | 114 | 5 | -233 | 132 | -11 | 84 | -164 |

### Ratios

| Item | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 152 | 171 | 99 | 29 | 43 | 53 | 42 | 45 | 52 | 32 |
| Inventory Days | 547 | 566 | 498 | 739 | 939 | 88 | 91 | 101 | 134 | 117 |
| Days Payable | 17 | 14 | 19 | 23 | 51 | 30 | 35 | 25 | 36 | 28 |
| Cash Conversion Cycle | 682 | 722 | 577 | 745 | 931 | 112 | 98 | 121 | 149 | 121 |
| Working Capital Days | -1060 | -1812 | -965 | -1042 | -2008 | -5340 | -6017 | -6299 | -6272 | -5392 |
| ROCE % | -2 | -2 | -3 | -4 | -3 | -3 | -6 | -36 | -5 | -12 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 28.62% | 27.16% | 27.16% | 24.64% | 24.64% | 24.64% | 24.64% |
| FIIs | 13.97% | 14.63% | 13.95% | 21.93% | 21.93% | 21.93% | 21.92% |
| DIIs | 0.01% | 0.01% | 0% | 0% | 0% | 0% | 0% |
| Public | 57.4% | 58.21% | 58.89% | 53.43% | 53.43% | 53.43% | 53.43% |
| No. of Shareholders | 34494 | 34880 | 34888 | 35233 | 35271 | 35216 | 35184 |

### Quarterly

| Category | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% | 24.64% |
| FIIs | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.93% | 21.92% |
| Public | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% | 53.43% |
| No. of Shareholders | 35165 | 35233 | 35247 | 35301 | 35290 | 35271 | 35257 | 35238 | 35233 | 35216 | 35203 | 35184 |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_STERLINBIO_2010_2010_15062012101925.zip) |
| from nse | [Annual Report 2009 from nse](https://archives.nseindia.com/annual_reports/AR_STERLINBIO_2009_2009_18082010121500.zip) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122990317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122990316.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122991214.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122991213.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122991212.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122991211.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport//5122991210.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:39:30.756Z.