Windlas Biotech Ltd.

Financial

	Windlas Biotech	SMS Pharmaceuticals	Indoco Remedies
Operational Metrics
Financials
5 yr Average ROE	9.77 %	9.06 %	11.09 %
5yr average Equity Multiplier	1.41	1.9	1.79
5yr Average Asset Turnover Ratio	1.07	0.64	0.92
5yr Avg Net Profit Margin	6.87 %	7.28 %	6.73 %
Price to Book	4.33	3.78	1.92
P/E	33.1	32.26	0.0
5yr Avg Cash Conversion Cycle	5.93 Days	93.25 Days	53.79 Days
Inventory Days	40.6 Days	116.73 Days	66.59 Days
Days Receivable	73.22 Days	93.46 Days	76.04 Days
Days Payable	94.29 Days	81.31 Days	121.65 Days
5yr Average Interest Coverage Ratio	41.19	4.77	7.97
5yr Avg ROCE	16.36 %	12.12 %	15.12 %
5yr Avg Operating Profit Margin	12.16 %	17.98 %	15.97 %
5 yr average Debt to Equity	0.06	0.53	0.38
5yr CAGR Net Profit	29.13 %	9.56 %	32.49 %
5yr Average Return on Assets	7.07 %	4.75 %	6.31 %
Shareholdings
Promoter Holding	62.34 %	66.26 %	58.9 %
Share Pledged by Promoters	0.0	37.6 %	0.0
Change in Promoter Holding (3 Yrs)	2.39 %	-1.03 %	0.21 %
Change in Mutual Fund Holding (3 Yrs)	-2.8 %	2.43 %	1.0 %

Business

	Windlas Biotech	SMS Pharmaceuticals	Indoco Remedies
Product Wise Break-Up	Product Wise Break-Up CDMO 69.59 Trade Generics & OTC 25.44 Exports 4.97 Pharmaceuticals 0 CRO, Analytical Services 0 API 0 Formulation 0	Product Wise Break-Up CRO, Analytical Services 0 Formulation 0 CDMO 0 Pharmaceutical 100.0 Trade Generics & OTC 0 API 0 Exports 0	Product Wise Break-Up CRO, Analytical Services 0 Formulations 91.0 CDMO 0 Pharmaceuticals 0 Trade Generics & OTC 0 Active Pharmaceutical Ingredient (API) 9.0 Exports 0
Location Wise Break-Up	Location Wise Break-Up India 95.64 India 0 Rest of the World 0 Others 4.36	Location Wise Break-Up Rest of the World 87.0 India 13.0	Location Wise Break-Up Rest of the World 30.02 India 69.98
Acute vs Chronic	Acute vs Chronic Chronic & Sub-Chronic 66.0 Acute 34.0	-	-
Segment Wise Break-Up	Segment Wise Break-Up Pharmaceutical 100.0	-	-