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Swing Capital

OneSource Specialty Pharma Ltd

NSE: ONESOURCE BSE: 544292Pharma

Incorporated in 2007, OneSource Specialty Pharma Ltd is in the research, development, manufacture and commercialisation of bio logical drug products in various injectable formats. It also offers end-to-end CDMO services across all phases of pre-clinical and clinical development and commercial supply of biologics[1]

₹1,809
52W: ₹1057 — ₹2250
PE 779 · Book ₹519 · +249% vs book
Market Cap₹20,743 Cr
Stock P/E779Price to Earnings
ROCE2.06%Return on Capital
ROE0.45%Return on Equity
Div. Yield0%Face Value ₹1

Weaknesses

  • −Stock is trading at 3.57 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −Tax rate seems low
  • −Company has a low return on equity of -1.16% over last 3 years.
  • −Promoters have pledged 38.4% of their holding.
  • −Company has high debtors of 191 days.

Shareholding Pattern

Promoters30.48%
FIIs17.5%
DIIs20.61%
Public31.4%
CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters37.76%34.25%▼3.529.78%▼4.529.77%▼0.029.93%▲0.230.48%▲0.6
FIIs17.44%18.54%▲1.118.69%▲0.219.39%▲0.719.24%▼0.217.5%▼1.7
DIIs12.56%18.03%▲5.518.09%▲0.118.48%▲0.418.8%▲0.320.61%▲1.8
Public32.24%29.17%▼3.133.42%▲4.332.34%▼1.132.01%▼0.331.4%▼0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales5673240245337477321375290419
Expenses6776230223237240241274277344
Operating Profit-10-3102299237801021375
OPM %-18%-4%4%9%30%50%25%27%4%18%
Net Profit-130-40-24-58-731742537-6221
EPS ₹0000-6.3815.222.173.24-5.431.87

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,405Cr, up 8.1% YoY. OPM at 19%.

Debt Position

Borrowings at ₹1,504Cr. Debt-to-equity ratio: 0.25x. Healthy balance sheet.

Capex Cycle

CWIP at ₹314Cr (9% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 20.61% (+8.05pp change). FIIs: 17.5% (+0.06pp change). Promoters hold 30.48%.

Margin & Efficiency

ROCE improving from 0% (Mar 2021) to 2% (Mar 2026). Working capital days: -41.

Valuation

PE 779x with 2.06% ROCE. Price is 249% above book value of ₹519. Dividend yield: 0%.

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