AstraZeneca Pharma India Limited (ASTRAZEN.NS) Stock Analysis & Winston Score

AstraZeneca Pharma India Limited is the Indian subsidiary of AstraZeneca PLC, a global British-Swedish pharmaceutical company. It sells prescription medicines in India across key therapy areas including oncology, cardiovascular disease, diabetes, and respiratory conditions. The company markets drugs to hospitals, clinics, and doctors across India, with products like Tagrisso (lung cancer) and Farxiga (diabetes) among its key offerings.

The company earns revenue primarily by selling branded prescription medicines to healthcare providers and distributors across India. It benefits from the backing of its global parent, which gives it access to a strong pipeline of patented drugs that generic competitors cannot easily copy. AstraZeneca PLC operates in over 100 countries and generates roughly $45 billion in annual global revenue, making it one of the largest pharmaceutical companies in the world. The key growth driver for the Indian subsidiary is rising healthcare spending and growing diagnosis rates for chronic diseases in India, though currency risk and regulatory pricing controls remain ongoing challenges.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+21.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-23.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

81.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$4.6B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

AstraZeneca Pharma India Limited is a rare growth stock that's already generating positive cash flow while growing at 21%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 25.0M (2022) → 25.0M (2026)

Score breakdown

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Quality

Gross Margin

23.0%

Thin — 23.0% gross margin

Operating Margin

9.6%

Modest — 9.6% operating margin

ROCE

6.2%

Weak — 6.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+26.7%

Fast-growing sales (26.7% YoY)

EPS YoY

+15.4%

Earnings growing fast (15.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

-35%

Weak — only -35% of profit becomes cash

FCF Margin

-3.0%

Burning cash (-3.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.02

Conservative — low debt load (0.02)

Interest Cover

53.58x

Comfortably covers interest (53.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

105.6x

Expensive — P/E 105.6

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

-143.7

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

0.39%

Small dividend — 0.39% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+841.2%

Dividend growing fast (841.2% YoY)

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