Anthem Biosciences Ltd.

871.45-0.35%

2026-08-21

anthembio.comBSE: 544449NSE: ANTHEM
Market Cap₹ 49,679 Cr.
Current Price₹ 874
High / Low₹ 904 / 579
Stock P/E86.3
Book Value₹ 56
Price to Book12.25
Dividend Yield0.23 %
ROCE29.6 %
ROE22.0 %
Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Contract Manufacturing Development & Discovery Services (CRDMO ): 83.4% • Speciality Ingredients: 16.6%

PROS

  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 27.5%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 21.0%
  • Company has consistently been profitable over the last 5 years
  • Company comfortably covers its interest (117.8x coverage)
  • Institutional investors have been accumulating - FII+DII up 11.0pp

CONS

  • Promoter holding has decreased over last 2 years: -12.6pp
  • Receivables are growing faster than sales - a possible quality concern
  • Stock is trading at 12.3x its book value
  • Operating margins have contracted to 38.2% from 48.1%
  • Expensive relative to growth - PEG of 5.6

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

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.SUNPHARMA1898.0037.65455393.780.842901.2326.5315299.8810.9819.1128.81
2.DIVISLAB8525.0077.37226311.960.35902.0065.503080.0027.8021.5140.75
3.TORNTPHARM5013.0087.43190678.410.76566.003.284921.0057.3219.2733.81
4.CIPLA1416.0033.94114392.010.92785.55-39.187119.284.1316.0016.73
5.ZYDUSLIFE1105.0024.42110224.170.09990.20-34.908017.0023.9721.3924.54
6.LUPIN2220.0018.36101506.150.811416.9816.018276.8934.2828.8629.59
7.MANKIND2391.0048.3498747.340.04574.0929.124030.5912.8913.2426.30
8.DRREDDY1171.0030.3397740.540.68435.60-69.108099.80-5.2113.7510.63
9.LAURUSLABS1807.0089.3097634.420.11362.07123.942026.3129.1018.2031.50
10.AUROPHARMA1615.1525.0392932.160.251032.0325.229150.3517.4412.7620.54
11.BIOCON414.30136.3267518.230.12136.8053.364336.0010.893.2619.54
12.ANTHEM881.7586.2649678.500.231199.41783.284182.18674.1829.6236.00
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2024
339
218
Operating Profit
OPM %
Other Income
19
Interest
4
Depreciation
19
118
Tax %
30.17%
Net Profit
0
1
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
525
330
Operating Profit
OPM %
Other Income
28
Interest
4
Depreciation
20
200
Tax %
18.85%
Net Profit
0
3
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
498
338
Operating Profit
OPM %
Other Income
24
Interest
3
Depreciation
20
161
Tax %
22.80%
Net Profit
0
2
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
483
288
Operating Profit
OPM %
Other Income
14
Interest
1
Depreciation
30
178
Tax %
53.66%
Net Profit
0
1
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
540
349
Operating Profit
OPM %
Other Income
23
Interest
2
Depreciation
26
186
Tax %
27.09%
Net Profit
136
2
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
550
332
Operating Profit
OPM %
Other Income
48
Interest
3
Depreciation
34
230
Tax %
24.46%
Net Profit
173
3
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
423
266
Operating Profit
OPM %
Other Income
34
Interest
0
Depreciation
35
130
Tax %
28.86%
Net Profit
93
2
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
611
344
Operating Profit
OPM %
Other Income
51
Interest
2
Depreciation
40
278
Tax %
31.72%
Net Profit
190
3
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
112
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
418
299
Operating Profit
OPM %
Other Income
25
Interest
1
Depreciation
30
145
Tax %
17.04%
Net Profit
120
0
Equity Capital
113
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
113
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015
248
178
Operating Profit
73
OPM %
30
Other Income
3
Interest
6
Depreciation
10
58
Tax %
32
Net Profit
39
EPS
46
Dividend Payout %
0
Minority Interest
-0
Share of Associates
0
Adjusted EPS
1
Minority Interest
-0
Share of Associates
0
Adjusted EPS
1
Mar 2016
308
215
Operating Profit
98
OPM %
32
Other Income
5
Interest
5
Depreciation
21
73
Tax %
31
Net Profit
50
EPS
37
Dividend Payout %
0
Minority Interest
-0
Share of Associates
0
Adjusted EPS
1
Minority Interest
-0
Share of Associates
0
Adjusted EPS
1
Mar 2017
356
248
Operating Profit
115
OPM %
32
Other Income
7
Interest
5
Depreciation
22
88
Tax %
25
Net Profit
66
EPS
79
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
1
Minority Interest
0
Share of Associates
0
Adjusted EPS
1
Mar 2020
633
451
Operating Profit
203
OPM %
32
Other Income
21
Interest
20
Depreciation
62
121
Tax %
23
Net Profit
93
EPS
108
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
2
Minority Interest
0
Share of Associates
0
Adjusted EPS
2
Mar 2021
1,103
696
Operating Profit
445
OPM %
40
Other Income
37
Interest
17
Depreciation
62
366
Tax %
26
Net Profit
271
EPS
323
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
5
Minority Interest
0
Share of Associates
0
Adjusted EPS
5
Mar 2022
1,231
664
Operating Profit
616
OPM %
50
Other Income
49
Interest
12
Depreciation
58
546
Tax %
26
Net Profit
406
EPS
7
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Mar 2023
1,057
634
Operating Profit
508
OPM %
48
Other Income
85
Interest
9
Depreciation
64
497
Tax %
23
Net Profit
385
EPS
7
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Mar 2024
1,419
914
Operating Profit
569
OPM %
40
Other Income
64
Interest
10
Depreciation
82
477
Tax %
23
Net Profit
367
EPS
7
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Mar 2025
1,845
1,174
Operating Profit
757
OPM %
41
Other Income
86
Interest
11
Depreciation
89
657
Tax %
31
Net Profit
451
EPS
8
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
8
Minority Interest
0
Share of Associates
0
Adjusted EPS
8
Mar 2026
2,124
1,290
Operating Profit
990
OPM %
47
Other Income
156
Interest
7
Depreciation
134
824
Tax %
28
Net Profit
592
EPS
11
Dividend Payout %
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
11
Minority Interest
0
Share of Associates
0
Adjusted EPS
11
TTM
2,002
1,240
Operating Profit
OPM %
Other Income
158
Interest
6
Depreciation
138
783
Tax %
26
Net Profit
576
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
0
Adjusted EPS
Minority Interest
0
Share of Associates
0
Adjusted EPS

COMPOUNDED SALES GROWTH

10 Years:
32%
5 Years:
14%
3 Years:
26%

COMPOUNDED PROFIT GROWTH

10 Years:
43%
5 Years:
17%
3 Years:
15%

STOCK PRICE CAGR

10 Years:
5 Years:
3 Years:
1 Year:
4%

RETURN ON EQUITY

10 Years:
33%
5 Years:
25%
3 Years:
21%
Last Year:
22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Jun 25

₹ 1

Rs.2.0000 per share(100%)Final Dividend

Mar 2015
8
89
27
Trade Payables
24
87
Total Liabilities
235
91
Capital Work in Progress
22
2
37
0
Cash & Bank
2
81
Total Assets
235
Total Debt
77
Net Working Capital
31
Contingent Liabilities
0
Book Value per Share
116.13
Face Value
10.00
Total Debt
77
Net Working Capital
31
Contingent Liabilities
0
Book Value per Share
116.13
Face Value
10.00
Mar 2016
8
138
37
Trade Payables
26
147
Total Liabilities
355
86
Capital Work in Progress
74
8
47
0
Cash & Bank
4
136
Total Assets
355
Total Debt
119
Net Working Capital
61
Contingent Liabilities
0
Book Value per Share
174.14
Face Value
10.00
Total Debt
119
Net Working Capital
61
Contingent Liabilities
0
Book Value per Share
174.14
Face Value
10.00
Mar 2017
8
213
35
Trade Payables
33
221
Total Liabilities
510
258
Capital Work in Progress
43
27
58
0
Cash & Bank
11
113
Total Assets
510
Total Debt
191
Net Working Capital
68
Contingent Liabilities
0
Book Value per Share
263.68
Face Value
10.00
Total Debt
191
Net Working Capital
68
Contingent Liabilities
0
Book Value per Share
263.68
Face Value
10.00
Mar 2020
8
413
26
Trade Payables
58
270
Total Liabilities
776
306
Capital Work in Progress
50
99
125
0
Cash & Bank
22
174
Total Assets
776
Total Debt
159
Net Working Capital
156
Contingent Liabilities
8
Book Value per Share
503.43
Face Value
10.00
Total Debt
159
Net Working Capital
156
Contingent Liabilities
8
Book Value per Share
503.43
Face Value
10.00
Mar 2021
8
693
80
Trade Payables
77
232
Total Liabilities
1,091
361
Capital Work in Progress
19
209
35
0
Cash & Bank
41
426
Total Assets
1,091
Total Debt
100
Net Working Capital
331
Contingent Liabilities
11
Book Value per Share
826.75
Face Value
10.00
Total Debt
100
Net Working Capital
331
Contingent Liabilities
11
Book Value per Share
826.75
Face Value
10.00
Mar 2022
9
1,346
30
Trade Payables
65
276
Total Liabilities
1,726
329
Capital Work in Progress
154
273
58
0
Cash & Bank
349
563
Total Assets
1,726
Total Debt
35
Net Working Capital
867
Contingent Liabilities
6
Book Value per Share
1543.98
Face Value
10.00
Total Debt
35
Net Working Capital
867
Contingent Liabilities
6
Book Value per Share
1543.98
Face Value
10.00
Mar 2023
114
1,627
29
Trade Payables
72
263
Total Liabilities
2,105
449
Capital Work in Progress
164
499
129
0
Cash & Bank
343
520
Total Assets
2,105
Total Debt
125
Net Working Capital
1,159
Contingent Liabilities
226
Book Value per Share
30.51
Face Value
2.00
Total Debt
125
Net Working Capital
1,159
Contingent Liabilities
226
Book Value per Share
30.51
Face Value
2.00
Mar 2024
112
1,813
121
Trade Payables
101
330
Total Liabilities
2,477
483
Capital Work in Progress
345
472
211
490
Cash & Bank
184
292
Total Assets
2,477
Total Debt
233
Net Working Capital
1,143
Contingent Liabilities
250
Book Value per Share
34.43
Face Value
2.00
Total Debt
233
Net Working Capital
1,143
Contingent Liabilities
250
Book Value per Share
34.43
Face Value
2.00
Mar 2025
112
2,264
43
Trade Payables
110
420
Total Liabilities
2,949
705
Capital Work in Progress
297
433
340
450
Cash & Bank
172
550
Total Assets
2,949
Total Debt
109
Net Working Capital
1,162
Contingent Liabilities
54
Book Value per Share
42.49
Face Value
2.00
Total Debt
109
Net Working Capital
1,162
Contingent Liabilities
54
Book Value per Share
42.49
Face Value
2.00
Mar 2026
112
2,897
4
Trade Payables
75
517
Total Liabilities
3,606
783
Capital Work in Progress
264
1,007
125
591
Cash & Bank
275
561
Total Assets
3,606
Total Debt
51
Net Working Capital
1,477
Contingent Liabilities
90
Book Value per Share
53.57
Face Value
2.00
Total Debt
51
Net Working Capital
1,477
Contingent Liabilities
90
Book Value per Share
53.57
Face Value
2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015
0
Cash from Investing
0
Cash from Financing
0
0
Free Cash Flow
-30
OCF / Net Profit
0.00
Cumulative 5-Year FCF
0
OCF / Net Profit
0.00
Cumulative 5-Year FCF
0
Mar 2016
0
Cash from Investing
0
Cash from Financing
0
0
Free Cash Flow
-68
OCF / Net Profit
0.00
Cumulative 5-Year FCF
0
OCF / Net Profit
0.00
Cumulative 5-Year FCF
0
Mar 2017
0
Cash from Investing
0
Cash from Financing
0
0
Free Cash Flow
-163
OCF / Net Profit
0.00
Cumulative 5-Year FCF
0
OCF / Net Profit
0.00
Cumulative 5-Year FCF
0
Mar 2020
166
Cash from Investing
-109
Cash from Financing
-48
9
Free Cash Flow
-62
OCF / Net Profit
1.79
Cumulative 5-Year FCF
0
OCF / Net Profit
1.79
Cumulative 5-Year FCF
0
Mar 2021
278
Cash from Investing
-196
Cash from Financing
-63
18
Free Cash Flow
193
OCF / Net Profit
1.02
Cumulative 5-Year FCF
-129
OCF / Net Profit
1.02
Cumulative 5-Year FCF
-129
Mar 2022
333
Cash from Investing
-205
Cash from Financing
181
308
Free Cash Flow
177
OCF / Net Profit
0.82
Cumulative 5-Year FCF
78
OCF / Net Profit
0.82
Cumulative 5-Year FCF
78
Mar 2023
306
Cash from Investing
-376
Cash from Financing
64
-6
Free Cash Flow
115
OCF / Net Profit
0.79
Cumulative 5-Year FCF
261
OCF / Net Profit
0.79
Cumulative 5-Year FCF
261
Mar 2024
140
Cash from Investing
-221
Cash from Financing
-77
-158
Free Cash Flow
-153
OCF / Net Profit
0.38
Cumulative 5-Year FCF
271
OCF / Net Profit
0.38
Cumulative 5-Year FCF
271
Mar 2025
271
Cash from Investing
-147
Cash from Financing
-136
-12
Free Cash Flow
15
OCF / Net Profit
0.60
Cumulative 5-Year FCF
347
OCF / Net Profit
0.60
Cumulative 5-Year FCF
347
Mar 2026
844
Cash from Investing
-702
Cash from Financing
-40
103
Free Cash Flow
670
OCF / Net Profit
1.43
Cumulative 5-Year FCF
824
OCF / Net Profit
1.43
Cumulative 5-Year FCF
824

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015
EPS (₹)
46.14
Book Value (₹)
116.13
Dividend per Share (₹)
0.00
Cash EPS (₹)
0.90
Operating Margin %
29.61%
Net Margin %
15.72%
ROE %
49.99%
ROCE %
39.87%
18.74%
Debtor Days
64
Inventory Days
50
Payable Days
85
29
Debt to Equity (x)
0.76x
Interest Coverage (x)
11.47x
1.41x
Revenue Growth %
92.77%
Operating Profit Growth %
101.64%
Net Profit Growth %
136.80%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2016
EPS (₹)
59.44
Book Value (₹)
174.14
Dividend per Share (₹)
0.00
Cash EPS (₹)
1.30
Operating Margin %
31.93%
Net Margin %
16.27%
ROE %
41.23%
ROCE %
34.59%
16.98%
Debtor Days
83
Inventory Days
50
Payable Days
70
63
Debt to Equity (x)
0.79x
Interest Coverage (x)
15.53x
1.51x
Revenue Growth %
24.27%
Operating Profit Growth %
34.04%
Net Profit Growth %
28.57%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2017
EPS (₹)
78.50
Book Value (₹)
263.68
Dividend per Share (₹)
0.00
Cash EPS (₹)
1.61
Operating Margin %
32.33%
Net Margin %
18.56%
ROE %
36.02%
ROCE %
27.35%
15.28%
Debtor Days
81
Inventory Days
54
Payable Days
80
55
Debt to Equity (x)
0.85x
Interest Coverage (x)
17.24x
1.54x
Revenue Growth %
15.49%
Operating Profit Growth %
16.94%
Net Profit Growth %
31.79%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2020
EPS (₹)
110.62
Book Value (₹)
503.43
Dividend per Share (₹)
0.00
Cash EPS (₹)
2.83
Operating Margin %
32.03%
Net Margin %
14.65%
ROE %
28.84%
ROCE %
28.38%
14.42%
Debtor Days
52
Inventory Days
53
Payable Days
67
38
Debt to Equity (x)
0.38x
Interest Coverage (x)
6.91x
1.63x
Revenue Growth %
77.75%
Operating Profit Growth %
76.09%
Net Profit Growth %
40.29%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2021
EPS (₹)
319.75
Book Value (₹)
826.75
Dividend per Share (₹)
0.00
Cash EPS (₹)
6.05
Operating Margin %
40.33%
Net Margin %
24.59%
ROE %
48.30%
ROCE %
55.36%
29.07%
Debtor Days
60
Inventory Days
27
Payable Days
54
32
Debt to Equity (x)
0.14x
Interest Coverage (x)
22.55x
1.93x
Revenue Growth %
74.36%
Operating Profit Growth %
119.52%
Net Profit Growth %
192.65%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2022
EPS (₹)
462.10
Book Value (₹)
1543.98
Dividend per Share (₹)
0.00
Cash EPS (₹)
8.12
Operating Margin %
50.04%
Net Margin %
32.94%
ROE %
39.44%
ROCE %
50.94%
28.79%
Debtor Days
86
Inventory Days
14
Payable Days
63
37
Debt to Equity (x)
0.03x
Interest Coverage (x)
45.81x
3.48x
Revenue Growth %
11.60%
Operating Profit Growth %
38.47%
Net Profit Growth %
49.48%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
6.75
Book Value (₹)
30.51
Dividend per Share (₹)
0.00
Cash EPS (₹)
7.87
Operating Margin %
48.06%
Net Margin %
36.44%
ROE %
24.89%
ROCE %
31.08%
20.11%
Debtor Days
104
Inventory Days
32
Payable Days
74
62
Debt to Equity (x)
0.07x
Interest Coverage (x)
58.01x
5.16x
Revenue Growth %
-14.16%
Operating Profit Growth %
-17.56%
Net Profit Growth %
-5.02%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
6.57
Book Value (₹)
34.43
Dividend per Share (₹)
0.00
Cash EPS (₹)
8.03
Operating Margin %
35.59%
Net Margin %
25.88%
ROE %
20.04%
ROCE %
24.21%
16.04%
Debtor Days
98
Inventory Days
44
Payable Days
53
90
Debt to Equity (x)
0.12x
Interest Coverage (x)
50.43x
3.49x
Revenue Growth %
34.29%
Operating Profit Growth %
11.99%
Net Profit Growth %
-4.64%
-2.69%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.28x
Mar 2025
EPS (₹)
8.07
Book Value (₹)
42.49
Dividend per Share (₹)
0.00
Cash EPS (₹)
9.67
Operating Margin %
36.26%
Net Margin %
24.38%
ROE %
20.99%
ROCE %
28.55%
16.64%
Debtor Days
93
Inventory Days
54
Payable Days
52
95
Debt to Equity (x)
0.05x
Interest Coverage (x)
63.40x
3.39x
Revenue Growth %
29.96%
Operating Profit Growth %
33.05%
Net Profit Growth %
22.86%
22.86%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.06x
Mar 2026
EPS (₹)
10.54
Book Value (₹)
53.57
Dividend per Share (₹)
2.00
Cash EPS (₹)
12.92
Operating Margin %
38.20%
Net Margin %
27.11%
ROE %
21.98%
ROCE %
29.62%
18.06%
Debtor Days
87
Inventory Days
39
Payable Days
42
84
Debt to Equity (x)
0.02x
Interest Coverage (x)
117.83x
3.79x
Revenue Growth %
15.17%
Operating Profit Growth %
30.79%
Net Profit Growth %
31.14%
30.53%
P/E (x)
62.29x
P/B (x)
12.25x
Dividend Yield %
0.30%
37.02x

Shareholding Pattern

Numbers in percentages

TRADES
Mar 2020
84.00
0.00
0.00
Government
0.00
16.00
Mar 2021
82.96
0.00
0.00
Government
0.00
17.04
Mar 2022
76.85
0.00
0.00
Government
0.00
23.15
Mar 2023
76.84
0.00
0.00
Government
0.00
23.16
Jul 2025
74.69
1.50
3.59
Government
0.00
20.22
Sep 2025
74.69
1.66
7.21
Government
0.00
16.42
Dec 2025
74.69
1.37
7.60
Government
0.00
16.35
Mar 2026
74.68
1.28
11.55
Government
0.00
12.49
Jun 2026
71.42
2.57
13.48
Government
0.00
12.53

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Credit Ratings

  • Credit Rating

    2026-07-03 - Anthem Biosciences Limited has informed the Exchange about Credit Rating

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