SAI LIFE SCIENCES LIMITED (SAILIFE)
SAI LIFE SCIENCES LIMITED is an integrated CRDMO (CRO + CDMO) with FY26 revenue 2,192 Cr and PAT 349 Cr; execution on FY27 capacity/capability capex is the key swing factor.
Investment Read
Separate the company from the entry. Integrated CRDMO businesses can compound for years, but execution (regulatory/quality, capacity ramp, talent) matters more than one-quarter noise.
FY26 delivered ~30% sales growth with margin expansion; the question is whether FY27 capex ramps translate into sustained growth without execution slippage.
Sai Life Sciences is an integrated CRDMO combining CRO (Discovery Services) and CDMO (CMC Services). The model benefits from cross-sell (discovery → development → manufacturing), repeat programs, and deeper customer relationships when delivery and compliance are strong.
FY26 sales were 2,192 Cr (+29.3% YoY vs FY25) with PAT 349 Cr. Balance-sheet risk looks low given post-IPO deleveraging (net debt ratios in the snapshot are minimal).
Key watch items: execution of the planned capacity/capability capex program, outcomes of regulatory/customer audits, customer concentration and pricing power, and ability to attract/retain scientific talent while scaling.
Decision Frame
- Business: integrated CRDMO; wins scale with quality + execution.
- FY26 trend: sales 2,192 Cr; PAT 349 Cr.
- Technical: Stage 2, RSI 59.8, ADX 32.0.
- Action bias: prefer adds on constructive consolidation; avoid chasing extended candles.
- Invalidation: repeated quality/compliance issues or a sustained breakdown below key moving averages.
Fundamental Scores
Agent Adda scores from snapshot (ric_sherlock_cache). Useful ranking signals — not standalone buy/sell rules.
Score Interpretation
Company Overview
Integrated CRDMO: CRO (Discovery) + CDMO (CMC) with cross-sell and quality/regulatory execution as the moat.
What they do
Integrated drug discovery + development + manufacturing services for global pharma and biotech customers.
Operating model
CRO (discovery) + CDMO (CMC) platform; integrated programs improve stickiness and lifetime value per customer.
Key swing factors
Capacity ramp execution, audit outcomes, talent retention, and customer mix (large pharma vs biotech).
Historical P&L
Annual P&L from cached Screener fundamentals.
| Period | Revenue | Op. Profit | OPM | PAT | EPS | Payout |
|---|---|---|---|---|---|---|
| Mar 2023 | 1,217 | 169 | 14% | 10 | 676% | |
| Mar 2024 | 1,465 | 287 | 20% | 83 | 0% | |
| Mar 2025 | 1,695 | 410 | 24% | 170 | 8.16 | 0% |
| Mar 2026 | 2,192 | 631 | 29% | 349 | 16.48 | 0% |
| TTM | 2,250 | 658 | 29% | 362 | 17.12 |
Quarterly Results
Last 6 quarters from cached fundamentals.
| Quarter | Revenue | Op. Profit | OPM | PAT | EPS |
|---|---|---|---|---|---|
| Mar 2025 | 580 | 158 | 27% | 88 | 4.24 |
| Jun 2025 | 496 | 121 | 24% | 60 | 2.90 |
| Sep 2025 | 537 | 146 | 27% | 84 | 4.00 |
| Dec 2025 | 556 | 188 | 34% | 100 | 4.75 |
| Mar 2026 | 602 | 177 | 29% | 104 | 4.92 |
| Jun 2026 | 554 | 148 | 27% | 73 | 3.45 |
Balance Sheet And Cash Flow
Balance sheet and cash flow from cached fundamentals.
| Balance sheet item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Equity Capital | 18 | 21 | 21 |
| Reserves | 957 | 2,108 | 2,463 |
| Borrowings+ | 928 | 352 | 288 |
| Total Liabilities | 2,262 | 3,146 | 3,626 |
| Fixed Assets+ | 1,180 | 1,488 | 1,815 |
| Total Assets | 2,262 | 3,146 | 3,626 |
| Cash flow item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| CFO | 263 | 314 | 509 |
| CFI | -191 | -536 | -395 |
| CFF | -95 | 301 | -124 |
| FCF | 82 | -55 | -83 |
| Net Cash | -24 | 79 | -10 |
Concall, Filings And News
Cached concalls: 8 | cached announcements: 6. Web news not fetched in offline mode.
Concall summary (offline)
- Quarter context (Jun 2026): Revenue 554 Cr (+11.7% YoY), OP 148 Cr (+22.3% YoY), PAT 73 Cr (+21.7% YoY).
- FY26 baseline: Revenue 2,192 Cr, EBITDA/Op profit 631 Cr, PAT 349 Cr (Integrated AR FY 2025–26).
- Listen for: FY27 capex ramp + utilisation, margin bridge (mix/operating leverage), customer mix (large pharma vs biotech), audit/quality updates, and hiring/attrition in scientific roles.
SAILIFE_Aug-2026_transcript
- Revenue / growth: ntum we are seeing across our business. Revenue for the quarter grew by 12% year-over-year, supported by growth across two businesses, particularly in the CRO, which grew by 26% year-overyear. The Q1 performance has…
- Mix (CRO/CDMO): 2% year-over-year, supported by growth across two businesses, particularly in the CRO, which grew by 26% year-overyear. The Q1 performance has been in line with our expectations and we remain confident of our growth…
- Margins / EBITDA: growth guidance of 15% to 20%, and the EBITDA range of 28% to 30%. With that, we'll be happy to take your questions. Moderator: Thank you very much. We will now begin with the question-and answer-session. Your first…
- Capex / capacity: l, we expect a stronger H2 with planned capacity expansion going live in the second half of the year. As we look ahead, we believe Sai is at an important point in evolution from being a strong small molecule CRDMO to…
- Guidance / outlook: been in line with our expectations and we remain confident of our growth trajectory and prospects. As we have discussed in the previous earnings call, we expect a stronger H2 with planned capacity expansion going live…
SAILIFE_May-2025_transcript
- Revenue / growth: across both our CDMO and CRO segments. Revenue grew in double digits year-overyear with the CDMO and CRO contributing 63% and 37% of revenues respectively. EBITDA grew by 42% with margin expansion of 458 basis points.…
- Mix (CRO/CDMO): in double digits year-overyear with the CDMO and CRO contributing 63% and 37% of revenues respectively. EBITDA grew by 42% with margin expansion of 458 basis points. Our PAT saw a 105% increase over the previous year…
- Margins / EBITDA: g 63% and 37% of revenues respectively. EBITDA grew by 42% with margin expansion of 458 basis points. Our PAT saw a 105% increase over the previous year driven by operating leverage and improved efficiencies. Looking at…
- Capex / capacity: ess across multiple fronts. We expanded capacity at key facilities, onboard high-quality scientific talent, and deepened our relations with customers across the US, UK, and EU and Japan, including 18 of the top 25…
- Guidance / outlook: ty profile moving closer to a long-term guidance of 28% to 30% EBITDA margin. Profit after tax for FY25 stood at INR170 crores, compared to INR83 crores in FY24, makes a strong 105% year-on-year increase. This growth…
Recent announcements (titles)
- All
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript12 Aug- Transcript of Earnings Conference Call organised
- Announcement under Regulation 30 (LODR)-Newspaper Publication8 Aug- Newspaper publication for Un-audited Financial Resul
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome7 Aug- Recording of Q1 FY27 earnings call for u
- Announcement under Regulation 30 (LODR)-Investor Presentation7 Aug- Investor Presentation for the quarter ended on 30 Ju
- Announcement under Regulation 30 (LODR)-Allotment6 Aug- Sai Life Sciences allotted 18,700 equity shares on 06 August 202
Sector And Competitive Context
Peer context requires DB snapshot or web-enriched data.
| Item | Value |
|---|---|
| Sector | Other |
| Symbol | Stage | Tech Score | RS | Fund Score | Signal |
|---|---|---|---|---|---|
| SAILIFE | Stage 2 | 44.7 | 86.7 | 85.1 | BUY |
Equity Chart V1
EOD chart from local cache (130 bars). Range: 2026-02-10 → 2026-08-17.
Technical Analysis
Technical setup from cached snapshot (if available).
| Indicator | Value | Note |
|---|---|---|
| Stage | Stage 2 | Weinstein stage |
| Signal | BUY | Snapshot |
| RSI | 59.8 | Momentum |
| ADX | 32.0 | Trend strength |
| SMA20/50/200 | 1399.92 / 1304.65 / None | Trend context |
| Supertrend | SELL | Trend filter |
| Ratio | Value |
|---|---|
| Market cap | INR 30,069 Cr |
| P/E | 81.8x |
| ROCE | 19.6% |
| ROE | 15.4% |
| Book value | INR 117 |
| High / Low | 1,476 |
| Dividend yield | 0.00% |
Weinstein And O'Neil Read
Stan Weinstein Stage
Snapshot stage: Stage 2 (Stage 2 uptrend). RSI 59.8; ADX 32.0. Treat stage as a context label, not a trade signal.
O'Neil / CAN SLIM Lens
Prefer strong earnings/ sales acceleration plus relative strength leadership, with a definable risk point.
Broker And Market View
Broker targets and analyst view require web search injection.
Valuation Scenarios
Illustrative valuation from TTM EPS and P/E multiples (not a recommendation).
| Scenario | TTM EPS | P/E | Implied value | vs current | Condition required |
|---|---|---|---|---|---|
| Bear (multiple compression) | 17.12 | 57x | 980 | -31% | Risk-off, slower growth, lower multiple. |
| Base (current multiple) | 17.12 | 82x | 1400 | -1% | Steady execution; multiple holds. |
| Bull (multiple expansion) | 17.12 | 98x | 1680 | +19% | Sustained growth + quality premium. |
Issues And Risks
High-level risks; validate with annual report risk section.
| Risk | Why it matters | Severity | What to monitor |
|---|---|---|---|
| Regulatory / quality | CRDMO is audit-driven; any GMP/quality lapse can disrupt programs. | High | Track inspection/audit outcomes and remediation. |
| Execution of capex | Capacity/capability expansion can face delays, cost overruns, or slow ramp. | High | Watch utilisation, milestones, and hiring. |
| Customer concentration | Large-pharma mix can be sticky but concentrated; project delays hit growth. | Medium | Monitor customer mix and repeat programs. |
| Talent | Scientific talent is a bottleneck; attrition impacts delivery. | Medium | Attrition and hiring pace. |
| FX / geopolitics | Global customer base implies currency and demand cyclicality. | Medium | Hedges and exposure notes. |
Manual Verification Before Posting
No deploy or email command should be run before this gate is complete.
Required Checks
- Verify financial tables vs Screener cache URL (if present) for SAILIFE.
- Cross-check FY and quarter labels against filings/annual report.
- Confirm technical snapshot date and whether it is EOD or intraday.
- If posting: add dated, source-attributed broker targets (web-enriched run).
Publishing Gate
- Research-only disclaimer present.
- No definitive buy/sell language.
- All key numbers backed by a primary source link.
Evidence Trail
Source-first trail for review.
- Local cache: reports/portfolio/ric_sherlock_cache/SAILIFE.json
- Screener consolidated page.
- Integrated Annual Report FY 2025–26.