Windlas Biotech Ltd. (WINDLAS) AI Stock Analysis

Windlas Biotech Ltd.

(NSE:WINDLAS)

Select Model

Rating:77Outperform

Price Target:INR 996.00▲(9.49% Upside)

Action:upgraded

Date:08/25/26

Windlas Biotech earns a strong overall score driven primarily by an exceptionally resilient balance sheet, consistent top-line growth, and robust bullish price momentum. The stock demonstrates strong technical momentum, trading well above all major moving averages. However, the final score is slightly restrained by its premium valuation, negligible dividend yield, and recent gross margin contractions that warrant continued monitoring.

Positive Factors

Durable Revenue GrowthRevenue has nearly doubled across FY2022–FY2026, demonstrating sustained demand for Windlas Biotech’s services rather than reliance on a single reporting period. Continued top-line expansion can strengthen operating scale, support investment in capacity, and reinforce the company’s position with pharmaceutical customers.

Negative Factors

Gross Margin CompressionThe sharp FY2026 gross-margin decline is a material threat to earnings quality because revenue growth is producing less gross profit per rupee of sales. If the lower margin persists, it could reduce operating leverage, constrain reinvestment capacity, and weaken the profitability of future growth.

Windlas Biotech Ltd. (WINDLAS) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 18.08B
Dividend Yield: 0.72%
Average Volume (3M): 6,670
Price to Earnings (P/E): 27.6
Beta (1Y): 0.88
Revenue Growth: 18.53%
EPS Growth: 1.89%
Country: India
Employees: 1,385
Sector: General
Sector Strength: 55
Industry: Drug Manufacturers - Specialty & Generic

Windlas Biotech Ltd. Business Overview & Revenue Model

Company Description

Windlas Biotech Limited functions as a comprehensive contract development and manufacturing organization (CDMO). Its CDMO offerings span the full product lifecycle, encompassing initial discovery, subsequent development, licensing, and large-scale co...

Windlas Biotech Ltd. Financial Statement Overview

Summary

Exhibits a fundamentally sound profile with consistent revenue growth and a pristine balance sheet featuring minimal leverage. However, recent gross margin contraction and modest cash flow conversion slightly temper the outlook.

Income Statement

76Positive

Balance Sheet

92Very Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	9.42B	9.04B	7.60B	6.29B	5.11B	4.63B
Gross Profit	2.11B	1.64B	2.88B	2.28B	1.81B	1.61B
EBITDA	1.17B	1.05B	1.12B	916.40M	701.91M	591.29M
Net Income	664.45M	664.56M	609.94M	581.87M	426.26M	380.89M
Balance Sheet
Total Assets	0	9.07B	7.60B	6.26B	5.29B	4.91B
Cash, Cash Equivalents and Short-Term Investments	2.79B	2.70B	2.40B	2.04B	1.32B	1.76B
Total Debt	0	352.42M	325.97M	36.41M	49.93M	66.37M
Total Liabilities	-5.81B	3.27B	2.55B	1.76B	1.27B	962.33M
Stockholders Equity	5.81B	5.81B	5.06B	4.50B	4.02B	3.95B
Cash Flow
Free Cash Flow	265.34M	337.68M	159.93M	712.76M	-99.25M	-56.74M
Operating Cash Flow	559.24M	1.01B	681.87M	1.09B	609.65M	91.30M
Investing Cash Flow	-437.62M	-931.15M	-740.64M	-920.68M	-141.10M	-1.55B
Financing Cash Flow	-123.71M	-82.06M	10.13M	-152.90M	-437.39M	1.30B

Windlas Biotech Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price909.65

Price Trends

50DMA1017.84Negative

100DMA936.62Negative

200DMA864.57Positive

Market Momentum

MACD-41.03Positive

RSI35.82Neutral

STOCH49.55Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WINDLAS, the sentiment is Negative. The current price of 909.65 is below the 20-day moving average (MA) of 937.28, below the 50-day MA of 1017.84, and above the 200-day MA of 864.57, indicating a neutral trend. The MACD of -41.03 indicates Positive momentum. The RSI at 35.82 is Neutral, neither overbought nor oversold. The STOCH value of 49.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WINDLAS.

Windlas Biotech Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:WINDLAS against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:WINDLAS	77Outperform	INR 18.10B	27.61	―	0.72%	18.53%	1.89%
IN:SYNCOMF	75Outperform	INR 18.09B	21.14	―	0.52%	0.44%	48.60%
IN:VENUSREM	69Neutral	INR 16.46B	13.61	―	0.82%	20.22%	73.03%
IN:MOREPENLAB	61Neutral	INR 62.30B	33.05	―	0.18%	30.20%	91.17%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:INDSWFTLAB	51Neutral	INR 31.95B	53.99	―	―	66.39%	-72.31%
IN:INDOCO	50Neutral	INR 19.23B	61.26	―	0.10%	10.75%	―

* General Sector Average

Performance Comparison

IN:WINDLAS and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:WINDLAS	Windlas Biotech Ltd.	877.25	-51.08	-5.50%
IN:INDOCO	Indoco Remedies Limited	208.35	-64.61	-23.67%
IN:INDSWFTLAB	Ind-Swift Laboratories Ltd.	367.40	265.60	260.90%
IN:MOREPENLAB	Morepen Laboratories Limited	113.70	65.57	136.24%
IN:SYNCOMF	Syncom Formulation (India) Ltd.	19.25	3.00	18.47%
IN:VENUSREM	Venus Remedies Limited	1231.75	791.29	179.65%

Windlas Biotech Ltd. Corporate Events

Windlas Biotech Schedules Earnings Call for Q2 and H1 FY27 Results

Oct 30, 2026

Windlas Biotech Limited operates in the pharmaceutical and biotechnology sector, producing healthcare and biopharmaceutical products for the Indian market and beyond. The company is publicly listed on BSE and NSE, signaling its integration into India...

Windlas Biotech Files Q1 FY27 Earnings Call Transcript With Indian Exchanges

Aug 14, 2026

Windlas Biotech Limited has released the transcript of its Q1 FY27 earnings conference call, formally submitting the document to the listing and compliance departments of BSE and the National Stock Exchange of India in line with SEBI disclosure regul...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 25, 2026

Windlas Biotech Ltd. AI Stock Analysis