Symbiotec PharmalabIPO Review — Financials, Valuation & Peers
A data-only look at the Symbiotec Pharmalab IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 723.33 | 100.06 | 177.04 | 720.68 | 1,294.79 | 247.21 | — |
| FY 2025 | 755.98 | 96.79 | 206.11 | 821.15 | 1,579.65 | 540.92 | — |
| FY 2026 | 872.26 | 109.9 | 231.97 | 1,158.64 | 1,780.79 | 387.91 | 17.82 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 55.44x
- P/E (post-issue)
- 56.81x
- RoNW
- 9.48%
- RoE
- 11.19%
- RoCE
- 11.56%
- EPS (pre-issue)
- ₹17.82
- EPS (post-issue)
- ₹17.39
- EBITDA Margin
- 26.59%
- PAT Margin
- 12.6%
- P/BV
- 5.35x
- NAV / share
- ₹184.69
- Market Cap
- ₹6,244.43 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV |
|---|---|---|---|---|---|
| Symbiotec Pharmalab | 19.1 | 184.69 | — | 9.48% | — |
| Cohance Lifesciences | 4.69 | — | 95.02x | 7% | — |
| Concord Biotech | 24.78 | — | 61.07x | 14% | — |
| Divi's Laboratories | 96.75 | 631 | 87.8x | 16.5% | 13.46x |
| Laurus Labs | 16.47 | — | 109.36x | 16.8% | — |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Anil Satwani, Kashish Satwani, Sushil Satwani, Satwani Holdings LLP</p>
- Holding (pre-issue)
- 36.39%
- Holding (post-issue)
- 33.28%
- Dilution
- 3.11%
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | May Apply |
Third-party analyst views on the Symbiotec Pharmalab IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Analysis in brief
Anchor book
The anchor round of the Symbiotec Pharmalab IPO drew 34 institutional investors committing a combined ₹526.19 crore. Anchor investors are institutions allotted shares at the issue price a day before bidding opens, in exchange for a mandatory post-listing lock-in — their names and cheque sizes are disclosed, which is why the anchor book is read as an institutional signal. The largest allocations went to ICICI PRUDENTIAL SMALLCAP FUND (₹60 crore), ASHOKA WHITEOAK ICAV-ASHOKA WHITEOAK EMERGING MARKETS EQUITY FUND (₹45 crore) and MOTILAL OSWAL SMALL CAP FUND (₹45 crore). Investor categories represented include Other, Insurance, FII/FPI and MF. The lock-in on half the anchor shares ends on 26 Sept 2026, with the remainder locked until 25 Nov 2026.
Analyst view tally
For the Symbiotec Pharmalab IPO, we track the published view of 1 reviewer, Capital Market among them. Of the 1 with a stated verdict, 1 says "May Apply". These are the views of the named reviewers, reproduced as published — they are not ipostation's recommendation, and this page does not rate the issue.
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Symbiotec Pharmalab operates at an EBITDA margin of 26.59% and a net (PAT) margin of 12.6% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 11.56% and a return on equity (RoE) of 11.19%. At the upper band, the post-issue market capitalisation works out to about ₹6,244.43 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company (₹112.5 crore), alongside issue expenses (₹105.02 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Symbiotec Pharmalab reported revenue of ₹872.26 crore and a net profit of ₹109.9 crore. Revenue grew from ₹723.33 crore in FY2024 to ₹872.26 crore in FY2026 (+21.0%). Net worth stood at ₹1,158.64 crore at the end of FY2026. At the upper band, that puts the issue at roughly 55.4× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 56.81× post-issue earnings and 5.35× book value, against a return on net worth of 9.48%. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Cohance Lifesciences and Concord Biotech, with a median peer P/E of about 91.4×. The issue's own post-issue P/E works out to 56.81×.
Promoters
The promoters of the company are <p>Anil Satwani, Kashish Satwani, Sushil Satwani, Satwani Holdings LLP</p>. Promoter holding stands at 36.39% before the issue and comes down to 33.28% after listing.
Frequently asked questions
- What is the reservation split in the Symbiotec Pharmalab IPO?
- Of the total shares offered, retail investors get 34.93%, QIBs 19.96% (plus 29.94% anchor), non-institutional investors 14.97%.
- Who are the promoters of Symbiotec Pharmalab and what is their holding?
- The promoters are <p>Anil Satwani, Kashish Satwani, Sushil Satwani, Satwani Holdings LLP</p>. Promoter holding is 36.39% before the issue and 33.28% after listing.
- What is the P/E ratio of the Symbiotec Pharmalab IPO?
- At the upper price band, the Symbiotec Pharmalab IPO is valued at 55.44× pre-issue earnings and 56.81× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Symbiotec Pharmalab IPO?
- The net proceeds go primarily toward prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company, among 3 disclosed objects.