Themis Medicare Ltd.
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ABOUT
AI Sector View
AI GENERATEDHealthcare
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.
PROS
- Latest quarter profit grew 273.1% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 15.0% CAGR over last 5 years
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
- Company maintains a comfortable, low leverage position
CONS
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.56x)
- Operating margins have contracted to 12.1% from 25.9%
- Company has delivered a poor profit growth of 3.8% over past five years
- Growth is decelerating - 3Y profit CAGR (-25.8%) trails the 5Y trend (3.8%)
- Rich enterprise valuation - EV/EBITDA of 26.4x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | 1842.00 | 36.54 | 441957.50 | 0.87 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| DIVISLAB | 9326.00 | 84.64 | 247576.00 | 0.32 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| TORNTPHARM | 4975.00 | 86.76 | 189233.01 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| ZYDUSLIFE | 1119.50 | 24.74 | 111670.55 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| CIPLA | 1365.00 | 32.72 | 110272.68 | 0.95 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| LAURUSLABS | 1970.35 | 97.37 | 106460.42 | 0.10 | 362.07 | 123.94 | 2026.31 | 29.10 | 18.20 | 31.50 |
| DRREDDY | 1161.00 | 30.07 | 96906.38 | 0.69 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| AUROPHARMA | 1675.45 | 25.97 | 96401.69 | 0.24 | 1032.03 | 25.22 | 9150.35 | 17.44 | 12.76 | 20.54 |
| LUPIN | 2096.00 | 17.34 | 95842.92 | 0.86 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| MANKIND | 2277.00 | 46.04 | 94050.37 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| GLENMARK | 2416.90 | 37.94 | 68210.88 | 0.10 | 482.83 | 927.88 | 4018.48 | 31.35 | 20.35 | 20.03 |
| THEMISMED | 127.95 | 29.48 | 1178.42 | 0.39 | 24.61 | 273.07 | 86.96 | -10.89 | 10.37 | -57.31 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 97 | 105 | 83 | 98 | 123 | 117 | 94 | 72 | 98 | 78 | 90 | 77 | 87 | |
| 75 | 92 | 74 | 89 | 94 | 100 | 85 | 77 | 108 | 81 | 80 | 73 | 145 | |
| Operating Profit | 22 | 12 | 8 | 9 | 29 | 17 | 9 | -6 | -10 | -3 | 10 | 4 | -58 |
| OPM % | 22.49% | 11.83% | 9.77% | 9.51% | 23.72% | 14.64% | 9.09% | -8.08% | -10.33% | -3.96% | 10.86% | 4.91% | -66.63% |
| 1 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 3 | 0 | 4 | -92 | |
| Interest | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 2 | 2 | 3 | 3 | 3 | 3 |
| Depreciation | 3 | 3 | 3 | 3 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 17 | 10 | 3 | 5 | 25 | 13 | 4 | -9 | -14 | -5 | 5 | 2 | 39 |
| Tax % | 25.59% | 27.10% | 29.82% | 40.73% | 26.25% | 26.18% | 27.01% | 15.85% | -1.15% | -3.28% | 5.95% | 7.98% | 36.24% |
| Net Profit | 0 | 0 | 0 | 0 | 25 | 14 | 5 | -10 | -14 | -4 | 101 | 89 | 25 |
| 1.98 | 1.23 | 0.80 | 0.72 | 2.68 | 1.55 | 0.06 | -1.05 | -1.54 | -0.39 | 1.10 | 0.96 | 2.67 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 232 | 217 | 210 | 184 | 202 | 231 | 395 | 354 | 382 | 406 | 332 | |
| 194 | 184 | 185 | 181 | 166 | 181 | 299 | 287 | 330 | 356 | 379 | |
| Operating Profit | 38 | 32 | 25 | 2 | 36 | 49 | 96 | 67 | 52 | 49 | -47 |
| OPM % | 16.42% | 14.94% | 11.71% | 1.24% | 17.69% | 21.46% | 24.24% | 19.04% | 13.49% | 12.10% | -14.32% |
| 3 | 3 | 3 | 3 | 3 | 4 | 7 | 12 | 5 | 5 | -85 | |
| Interest | 12 | 12 | 12 | 12 | 13 | 13 | 9 | 10 | 9 | 10 | 11 |
| Depreciation | 12 | 7 | 7 | 8 | 8 | 9 | 9 | 10 | 12 | 10 | 10 |
| Profit before Tax | 17 | 16 | 9 | -15 | 27 | 41 | 95 | 73 | 53 | 40 | 40 |
| Tax % | 11.16% | 9.80% | 1.17% | 12.36% | 7.79% | 13.62% | 23.49% | 21.53% | 18.56% | 24.81% | 36.17% |
| Net Profit | 15 | 15 | 9 | -13 | 25 | 36 | 73 | 57 | 44 | 30 | 26 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 26.97 | 38.84 | 79.07 | 6.17 | 4.73 | 3.24 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 6.49% | 11.07% | 6.31% | 8.09% | 10.57% | 15.43% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 7%
- 5 Years:
- 15%
- 3 Years:
- 1%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 17%
- 5 Years:
- 4%
- 3 Years:
- -26%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 5%
- 3 Years:
- -7%
- 1 Year:
- 26%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 17%
- 3 Years:
- 13%
- Last Year:
- 8%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| 66 | 141 | 159 | 148 | 173 | 209 | 278 | 330 | 368 | 393 | |
| 119 | 73 | 77 | 80 | 94 | 82 | 71 | 81 | 75 | 63 | |
| Trade Payables | 35 | 32 | 31 | 35 | 30 | 31 | 32 | 40 | 47 | 51 |
| 46 | 29 | 24 | 35 | 39 | 40 | 52 | 63 | 76 | 81 | |
| Total Liabilities | 275 | 284 | 301 | 307 | 345 | 371 | 442 | 524 | 576 | 598 |
| 117 | 124 | 126 | 123 | 116 | 133 | 144 | 162 | 168 | 172 | |
| Capital Work in Progress | 6 | 9 | 2 | 2 | 8 | 2 | 3 | 3 | 3 | 3 |
| 6 | 23 | 24 | 27 | 35 | 45 | 56 | 70 | 89 | 95 | |
| 58 | 48 | 50 | 54 | 55 | 58 | 61 | 69 | 71 | 84 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 178 | 177 | |
| Cash & Bank | 14 | 9 | 7 | 3 | 5 | 25 | 26 | 19 | 19 | 13 |
| 73 | 72 | 91 | 98 | 126 | 107 | 152 | 202 | 48 | 54 | |
| Total Assets | 275 | 284 | 301 | 307 | 345 | 371 | 442 | 524 | 576 | 598 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 40 | -2 | 7 | 11 | 1 | 57 | 52 | 32 | 22 | 35 | |
| Cash from Investing | -7 | -4 | -0 | -4 | -5 | -16 | -16 | -24 | -16 | -12 |
| Cash from Financing | -13 | 5 | -9 | -10 | 7 | -26 | -18 | 0 | -9 | -26 |
| 5 | -0 | -1 | -3 | 2 | 16 | 1 | -8 | -3 | -3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Themis Medicare Limited has informed the Exchange about Copy of Newspaper Publication for Notice of 56th AGM scheduled on 30th September, 2026.
2026-09-08 - Themis Medicare Limited has informed the Exchange regarding Notice of 56th Annual General Meeting to be held on September 30, 2026
2026-09-07 - Significant increase in volume has been observed in Themis Medicare Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Themis Medicare Limited has submitted their response.
2026-09-07 - Significant increase in volume has been observed in Themis Medicare Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-17 - Themis Medicare Limited has informed the Exchange about General Updates -Change Of Company Secretary / Compliance Officer's E-Mail ID and updation of E-Mail Id of RTA,
2026-08-14 - Themis Medicare Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Themis Medicare Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-13 - Themis Medicare Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-13 - Themis Medicare Limited has informed the Exchange about Resignation of Director/KMP/SMP
News
Recent coverage and analyst commentary for THEMISMED
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Themis Medicare Ltd.
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