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Swing Capital

Haleos Labs Limited

NSE: HALEOSLABS BSE: 540679Pharma

Incorporated in 2006, SMS Lifesciences Ltd is in the business of manufacturing of Active Pharma Ingredients and their intermediates[1]

₹1,549
52W: ₹1050 — ₹1778
PE 25.7 · Book ₹684 · +126% vs book
Market Cap₹468 Cr
Stock P/E25.7Price to Earnings
ROCE13.9%Return on Capital
ROE11.4%Return on Equity
Div. Yield0.1%Face Value ₹10

Strengths

  • +Company has reduced debt.

Weaknesses

  • −The company has delivered a poor sales growth of 5.35% over past five years.
  • −Company has a low return on equity of 8.90% over last 3 years.
  • −Dividend payout has been low at 3.00% of profits over last 3 years

Shareholding Pattern

Promoters72.1%
FIIs0%
DIIs0.3%
Public27.59%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.4%71.4%71.4%71.4%71.4%71.4%71.79%▲0.472.1%▲0.3
FIIs0.01%0.02%▲0.00%▼0.00%0.03%▲0.00%▼0.00%0%
DIIs0%0%0%0%0%0.03%▲0.00.29%▲0.30.3%▲0.0
Public28.59%28.57%▼0.028.59%▲0.028.6%▲0.028.56%▼0.028.57%▲0.027.91%▼0.727.59%▼0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales67.8471.2386.3786.5778.582.8885.4379.0477.8480.72
Expenses58.3662.2175.5672.866.7169.8179.8368.2167.0469.16
Operating Profit9.489.0210.8113.7711.7913.075.610.8310.811.56
OPM %13.97%12.66%12.52%15.91%15.02%15.77%6.56%13.7%13.87%14.32%
Net Profit3.123.315.936.466.016.232.685.164.985.41
EPS ₹10.3210.9519.6121.3719.8820.618.8617.0716.4717.89

AI Insights

Revenue Trend

TTM revenue at ₹323Cr, down 3% YoY. OPM at 12%.

Debt Position

Borrowings at ₹67Cr. Debt-to-equity ratio: 0.33x. Healthy balance sheet.

Capex Cycle

CWIP at ₹8Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.3% (+0.30pp change). FIIs: 0% (+0.00pp change). Promoters hold 72.1%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 14% (Mar 2025). Working capital days: 57.

Valuation

PE 25.7x with 13.9% ROCE. Price is 126% above book value of ₹684. Dividend yield: 0.1%.

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