Every listed Indian CDMO company covered here — Anthem Biosciences, Blue Jet, Cohance, Divi's, Gland, Laurus, Neuland, Piramal Pharma, Shilpa, Syngene — against Sai Life, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹248.3k Cr | 96.7× | 12.8% | 32.6% | 21.5% | 0.9× | 0.0× | 53.5% | |
| 2 | ₹108.3k Cr | 121.9× | 22.7% | 26.2% | 18.0% | 2.1× | 0.5× | 122.0% | |
| 3 | ₹50.1k Cr | 84.6× | 15.2% | 39.3% | 29.6% | 0.9× | 0.0× | 7.3% | |
| 4 | ₹48.1k Cr | 46.8× | 14.5% | 25.3% | 14.9% | 1.2× | 0.0× | 44.8% | |
| vs | 5Sai Life | ₹33.9k Cr | 97.2× | 29.4% | 28.8% | 19.2% | 1.8× | 0.1× | 83.1% |
| 6 | ₹28.9k Cr | 79.3× | 37.0% | 28.7% | 26.6% | 1.0× | 0.2× | 47.3% | |
| 7 | ₹27.9k Cr | n/m | -3.1% | 10.4% | 1.2% | n/m | 0.7× | 3.7% | |
| 8 | ₹20.2k Cr | 83.0× | 19.9% | 28.3% | 11.4% | 1.7× | 0.3× | 152.5% | |
| 9 | ₹17.3k Cr | 96.6× | -13.0% | 18.8% | 5.8% | 1.4× | 0.1× | -49.8% | |
| 10 | ₹15.2k Cr | 48.0× | 2.6% | 24.6% | 8.7% | 2.4× | 0.1× | -42.4% | |
| 11 | ₹10.2k Cr | 41.1× | -8.0% | 31.0% | 26.5% | 0.9× | 0.0× | -12.2% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | SAILIFE | ANTHEM |
|---|---|---|
| What you pay22 Sept 2026 | ||
| Share price | ₹1,600.50 | ₹891.70 |
| Market cap | ₹33,899 Cr | ₹50,087 Cr |
| P/E | 97.16× | 84.64× |
| P/B | 13.65× | 16.46× |
| P/S | 15.46× | 23.58× |
| 12-month return | 83.1% | 7.3% |
| SizeFY26 | ||
| Revenue | ₹2,192 Cr | ₹2,124 Cr |
| PAT | ₹349 Cr | ₹592 Cr |
| Net worth | ₹2,484 Cr | ₹3,043 Cr |
| Gross block | ₹1,815 Cr | ₹783 Cr |
| GrowthFY26 | ||
| Revenue growth | 29.4% | 15.2% |
| Revenue CAGR (3y) | 21.7% | 26.2% |
| PAT CAGR (3y) | 226.9% | 15.4% |
| What it keepsFY26 | ||
| EBITDA margin | 28.8% | 39.3% |
| PAT margin | 15.9% | 27.9% |
| ROCE | 19.2% | 29.6% |
| ROE | 14.0% | 19.5% |
| CFO / PAT (3y) | 1.80× | 0.89× |
| What it owesFY26 | ||
| Net debt | ₹178 Cr | ₹-221 Cr |
| Debt / equity | 0.12× | 0.02× |
| CWIP | ₹270 Cr | ₹264 Cr |
| Debtor days | 62 days | 101 days |
| Who owns itFY26 | ||
| Promoter holding | 34.5% | 71.4% |
| Institutional holding | 52.4% | 16.1% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
Sai Life takes a molecule from idea to shipment. Research run for other companies' discovery programmes is 40% of revenue and manufacturing the other 60%, and few rivals do both — the pitch is that a molecule never has to change hands. Nineteen of the twenty-five largest drug companies are customers, across 300 active accounts.
Anthem makes drug molecules to order for other drug companies, from early research through to commercial supply, which was 81.5% of June-quarter revenue. The rest is speciality ingredients — enzymes and nutritional actives — sold on its own account. Three plants in Karnataka, listed on the exchanges in July 2025.
There are 155 programmes in development, 33 molecules in commercial supply and 14 in late phase — the late-phase count is what becomes revenue three or four years out. It spent ₹395 crore last year and lifted the plant base 22% to ₹1,815 crore, with another ₹263 crore in the June quarter. Every regulatory inspection to date has been cleared.
Fourteen molecules are in commercial supply and ten more in late-stage trials, on 425 kilolitres of custom synthesis capacity and 142 of fermentation — and fermentation at that scale is what most Indian contract manufacturers do not have. A third site, NeoAnthem at Harohalli, is taking on peptide synthesis and oncology work. All of it built rather than bought.
Krishnam Raju Kanumuri is managing director and chief executive, with Dr K Ranga Raju Kanumuri a whole-time director. The independent side of the board is barely a year old: four directors left between June 2024 and March 2025, including the two nominees of TPG, and three independents arrived in their place. There is not much record yet to judge it on.
Founder Ajay Bhardwaj is chairman, managing director and chief executive at once — three roles most listed companies keep apart — and holds 42.4% of the company himself. The founding group owns 71.42%, none of it pledged, after selling about 3.25% when the listing lock-in expired in the June quarter. Three members of the family are employed in the business.
Operating margin guided at 28–30% for the full year. The June quarter came in at 27%, against 31% in March.
Q1 FY27 investor presentation
Capacity is 65% utilised, across 700 kilolitres and eighty production trains — built ahead of the pipeline rather than in answer to it.
Q1 FY27 investor presentation
Orders already in hand cover 60% of what the company needs for the full year.
Q1 FY27 investor presentation
On revenue falling 22.6%: deliveries slipped rather than demand, with more of the year's shipments scheduled for later months.
Q1 FY27 investor presentation
Closing prices to 22 Sept 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.