Gujarat Themis Biosyn Ltd.

•

gtbl.inBSE: 506879NSE: GUJTHEM

Market Cap₹ 5,359 Cr.

Current Price

High / Low₹ 479 / 225

Stock P/E110.1

Book Value₹ 81

Price to Book12.35

Dividend Yield0.16 %

ROCE27.5 %

ROE21.7 %

Face Value₹ 1

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 44.8%
Company has a good return on equity (ROE) track record: 3 Years ROE 33.8%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.17x)
Company comfortably covers its interest (181.0x coverage)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Receivables are growing faster than sales - a possible quality concern
Stock is trading at 12.3x its book value
Operating margins have contracted to 45.7% from 54.1%
Expensive relative to growth - PEG of 29.1
Debtor days have increased from 48 to 71
Growth is decelerating - 3Y profit CAGR (3.8%) trails the 5Y trend (15.6%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SUNPHARMA	1899.00	37.67	455633.71	0.84	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9100.00	82.59	241576.41	0.33	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4850.00	84.58	184478.41	0.78	566.00	3.28	4921.00	57.32	19.27	33.81
4.	CIPLA	1385.00	33.19	111888.39	0.94	785.55	-39.18	7119.28	4.13	16.00	16.73
5.	ZYDUSLIFE	1121.00	24.78	111820.18	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
6.	LAURUSLABS	1840.00	90.93	99417.45	0.11	362.07	123.94	2026.31	29.10	18.20	31.50
7.	LUPIN	2111.00	17.46	96528.82	0.85	1416.98	16.01	8276.89	34.28	28.86	29.59
8.	DRREDDY	1154.00	29.89	96322.06	0.69	435.60	-69.10	8099.80	-5.21	13.75	10.63
9.	MANKIND	2328.55	47.09	96179.61	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
10.	AUROPHARMA	1653.30	25.62	95127.23	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
11.	GLENMARK	2427.00	38.10	68495.93	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	GUJTHEM	431.00	110.07	5359.00	0.16	110.67	—	437.90	—	27.48	47.49

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50	40	39	42	39	35	40	38	36	42	43	44	44
	26	23	21	21	20	19	21	22	22	21	22	25	29
Operating Profit	24	17	18	21	19	15	19	16	14	21	21	19	15
OPM %	47.41%	42.29%	45.56%	49.82%	47.77%	44.33%	47.75%	42.50%	38.81%	49.45%	49.14%	43.77%	34.33%
	1	1	1	1	1	0	0	1	0	1	0	1	0
Interest	0	0	0	0	0	0	0	0	0	0	1	2	2
Depreciation	1	1	1	1	1	1	2	1	2	3	4	4	4
Profit before Tax	24	17	18	21	18	14	17	16	12	19	17	14	15
Tax %	25.58%	25.70%	26.46%	24.15%	25.87%	25.58%	25.46%	25.42%	25.25%	23.99%	26.14%	24.06%	27.03%
Net Profit	18	13	13	16	13	11	13	12	9	14	12	11	11
	2.44	1.15	1.19	1.46	1.21	0.97	1.19	1.10	0.83	1.31	1.14	1.00	1.02

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	33	36	39	41	85	91	115	148	170	151	174
	27	30	33	34	53	50	57	75	91	82	97
Operating Profit	6	6	6	7	32	40	58	74	79	69	77
OPM %	18.50%	16.95%	16.08%	17.93%	37.40%	44.53%	50.54%	49.62%	46.36%	45.65%	44.11%
	0	0	0	2	2	3	4	7	4	2	2
Interest	0	0	0	0	1	1	1	0	0	0	5
Depreciation	1	1	1	1	1	2	2	3	4	5	15
Profit before Tax	5	5	5	8	31	41	59	77	79	66	65
Tax %	0.00%	10.39%	20.07%	21.80%	24.26%	26.18%	26.10%	25.17%	25.43%	25.58%	25.27%
Net Profit	5	4	4	6	24	30	44	58	59	49	49
EPS	3.19	3.01	2.66	4.41	16.30	20.77	30.03	7.98	8.14	4.48	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	10.13%	0.00%	36.63%	13.53%	12.28%	14.97%	—

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 12%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: 27%
5 Years:: 16%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 8%

RETURN ON EQUITY

10 Years:: 74%
5 Years:: 41%
3 Years:: 34%
Last Year:: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	7	7	7	7	7	7	7	7	7	11
	-3	1	5	11	35	63	96	142	194	237
	2	3	0	0	3	1	0	0	1	30
Trade Payables	6	7	6	6	7	4	7	10	10	15
	4	3	2	9	18	24	27	28	29	25
Total Liabilities	15	21	20	33	71	98	137	187	241	318
	9	11	11	15	17	19	19	33	38	41
Capital Work in Progress	0	0	0	1	0	2	13	21	91	184
	0	1	0	0	6	6	12	15	3	5
	0	0	0	0	0	0	0	0	27	31
Cash & Bank	0	0	4	2	2	28	12	9	8	13
	5	10	5	15	45	44	81	110	73	43
Total Assets	15	21	20	33	71	98	137	187	241	318

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5	3	6	2	8	21	55	60	64	91
Cash from Investing	-1	-3	-1	-6	-3	-2	-30	-20	-55	-112
Cash from Financing	-3	-0	-4	5	2	-5	-14	-13	-9	26
	-0	0	1	0	-0	3	-4	6	0	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	3.19	3.01	2.66	4.41	16.30	20.77	30.03	39.90	8.14	4.48
Book Value (₹)	2.65	5.65	8.34	12.75	29.04	48.14	71.11	102.66	27.72	22.79
Dividend per Share (₹)	0.00	0.00	0.00	0.00	1.65	0.00	11.00	5.40	1.00	0.67
Cash EPS (₹)	0.53	0.50	0.46	0.70	2.30	2.93	4.21	5.56	5.75	4.97
PROFITABILITY
Operating Margin %	19.02%	17.97%	16.51%	23.33%	39.40%	48.14%	54.06%	54.06%	46.36%	45.65%
Net Margin %	14.19%	12.26%	9.97%	15.61%	27.81%	33.32%	37.98%	39.07%	34.84%	32.34%
ROE %	302.71%	72.63%	38.06%	41.85%	77.99%	53.82%	50.35%	45.92%	33.76%	21.69%
ROCE %	80.38%	54.67%	42.22%	44.88%	85.96%	67.89%	67.91%	61.51%	45.40%	27.48%
	31.50%	24.25%	18.45%	24.07%	45.62%	35.65%	37.08%	35.81%	27.65%	17.44%
EFFICIENCY
Debtor Days	25	47	46	38	56	70	63	53	48	71
Inventory Days	4	5	5	4	14	24	28	32	19	10
Payable Days	0	2000	1309	2104	215	132	115	114	99	193
	30	-1949	-1259	-2062	-146	-38	-24	-29	-32	-112
FINANCIAL HEALTH
Debt to Equity (x)	0.86x	0.49x	0.05x	0.32x	0.19x	0.04x	0.00x	0.00x	0.00x	0.12x
Interest Coverage (x)	13.26x	12.96x	12.59x	52.71x	34.85x	42.66x	72.31x	440.64x	347.14x	181.05x
	0.34x	0.69x	0.99x	0.63x	1.49x	2.84x	2.93x	2.30x	1.87x	1.84x
GROWTH
Revenue Growth %	3.77%	9.40%	8.71%	5.80%	107.37%	6.39%	26.82%	29.19%	14.45%	-11.20%
Operating Profit Growth %	-2.38%	3.34%	-0.13%	49.51%	250.30%	29.97%	42.43%	29.18%	3.59%	-14.23%
Net Profit Growth %	0.77%	-5.44%	-11.66%	65.73%	269.40%	27.48%	44.55%	32.88%	2.06%	-17.56%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-79.59%	-45.04%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	32.42x	62.89x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	14.29x	12.35x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.24%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	34.53x	43.28x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.86	70.86	70.86	70.86	70.86	70.86	70.86	70.86	70.86
	1.44	1.49	1.42	1.91	2.51	2.95	1.96	1.80	1.76
	1.18	1.17	1.17	1.17	1.17	1.17	1.17	1.17	1.17
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.51	26.47	26.54	26.05	25.45	25.01	26.00	26.16	26.19

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Shareholders meeting

2026-09-04 - Gujarat Themis Biosyn Limited has informed the Exchange regarding Notice of 45th AGM to be held on September 30, 2026

2026-09-01

Outcome of Board Meeting

2026-09-01 - Gujarat Themis Biosyn Limited has informed the Exchange regarding Outcome of Board Meeting held on September 01, 2026.

2026-08-28

Committee Meeting Updates

2026-08-28 - Gujarat Themis Biosyn Limited has informed the Exchange regarding Outcome of Committee Meeting held on August 28, 2026 for allot

2026-08-28

General Updates

2026-08-28 - Gujarat Themis Biosyn Limited has informed the Exchange about the closure of QIP Issue.

2026-08-25

General Updates

2026-08-25 - Gujarat Themis Biosyn Limited has informed the Exchange about General Updates - Outcome of Board meeting relating to QIP Issue.

2026-08-25

General Updates

2026-08-25 - Gujarat Themis Biosyn Limited has informed the Exchange about General Updates

2026-08-23

Amendment to AOA/MOA

2026-08-23 - Gujarat Themis Biosyn Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-08-23

Amendment to AOA/MOA

2026-08-23 - Gujarat Themis Biosyn Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-08-22

Shareholders meeting

2026-08-22 - Gujarat Themis Biosyn Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

News

Recent coverage and analyst commentary for GUJTHEM

Loading news…

🤖

AI Stock Analyst

Gujarat Themis Biosyn Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account