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Swing Capital

Alivus Life Sciences Ltd

NSE: ALIVUS BSE: 543322Pharma

Glenmark Life Sciences, a subsidiary of Nirma Limited, a diversified conglomerate with interest in consumer products, cement, chemicals and pharmaceuticals. It is a leading developer and manufacturer of select, high-value, non-commoditized, active pharmaceutical ingredients (APIs) in chronic therapeutic areas. The company further operates in Contract Development and manufacturing operations to offer services to specialty Pharmaceutical companies.

₹1,057
52W: ₹819 — ₹1155
PE 22.2 · Book ₹271 · +290% vs book
Market Cap₹12,972 Cr
Stock P/E22.2Price to Earnings
ROCE25%Return on Capital
ROE19%Return on Equity
Div. Yield0.49%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 27.4%

Weaknesses

  • −The company has delivered a poor sales growth of 6.24% over past five years.
  • −Company has high debtors of 153 days.

Shareholding Pattern

Promoters74.87%
FIIs5.3%
DIIs7.27%
Public12.55%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters82.85%75%▼7.875%74.99%▼0.074.94%▼0.074.91%▼0.074.91%74.87%▼0.0
FIIs4.81%7.85%▲3.06.74%▼1.16.57%▼0.26.42%▼0.26.84%▲0.45.08%▼1.85.3%▲0.2
DIIs1.57%4.16%▲2.64.86%▲0.75.19%▲0.35.62%▲0.45.47%▼0.27.13%▲1.77.27%▲0.1
Public10.76%12.99%▲2.213.4%▲0.413.25%▼0.213.03%▼0.212.79%▼0.212.89%▲0.112.55%▼0.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales573537589507642650602588673689
Expenses400395429373452451430409442475
Operating Profit173141159134190198172179231215
OPM %30%26%27%27%30%31%29%30%34%31%
Net Profit1199811195137142122130150163
EPS ₹9.697.999.17.7811.1811.589.9110.612.2513.25

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,552Cr, up 6.9% YoY. OPM at 31%.

Debt Position

Borrowings at ₹57Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.

Capex Cycle

CWIP at ₹273Cr (26% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 7.27% (+6.69pp change). FIIs: 5.3% (+2.03pp change). Promoters hold 74.87%.

Margin & Efficiency

ROCE improving from 0% (Mar 2018) to 25% (Mar 2026). Working capital days: 306.

Valuation

PE 22.2x with 25% ROCE. Price is 290% above book value of ₹271. Dividend yield: 0.49%.

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