Amrutanjan Health Care Ltd (AMRUTANJAN)
🎯 Key Takeaways
- Amrutanjan Health Care Ltd is in a clear growth phase, transitioning from a mature OTC player to a digitally enabled, rural-focused health and wellness platform with scalable manufacturing ambitions. Management is executing a strategic shift toward higher-growth segments like women's hygiene and pain management, supported by aggressive distribution expansion and new product launches.
- Revenue declined 31.2% QoQ to ₹103 in Q1FY27.
- ⚠️ 1) Margin pressure in lower-volume quarters (e.g., Q1 FY26 OPM at 4.2%) suggests sensitivity to demand fluctuations and pricing pressures in competiti
- Market Cap
- ₹1,463
- P/E Ratio
- 27.1
- P/B Ratio
- 13.46
- ROE
- 49.6%
- ROCE
- 65.5%
- Debt/Equity
- 0.02
- Div Yield
- 0.76%
- Promoter
- 46.5%
📖 The Story
Amrutanjan Health Care Ltd is in a clear growth phase, transitioning from a mature OTC player to a digitally enabled, rural-focused health and wellness platform with scalable manufacturing ambitions. Management is executing a strategic shift toward higher-growth segments like women's hygiene and pain management, supported by aggressive distribution expansion and new product launches.
📰 What's Happening
In its FY26 annual report (Aug 28, 2026), management highlighted 10% YoY revenue growth to ₹50,255.27 crore and ₹5,791.78 crore PAT, driven by 19% growth in Comfy and 10% in pain management. Key initiatives include expanding distribution to 44,000 new chemist outlets (targeting 100K by FY27), launching products like Comfy Slimfit XXL Night Pads and Relief Nasal Spray, and investing ₹150 crore in a new sanitary napkin plant in Telangana (700 million annual capacity) to be commissioned in May FY27. Digital transformation reached 85% by FY26-end, with automation at 70% of critical processes. The company also entered the US market via Amazon US for 'Amrutanjan Relief'.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 118 | 141 | 150 | 103 |
| Operating Profit | 15 | 24 | 24 | 4 |
| OPM % | 12.7% | 16.7% | 16.0% | 4.2% |
| Net Profit | 14 | 19 | 16 | 4 |
| EPS | ₹4.83 | ₹6.73 | ₹5.60 | ₹1.51 |
Quarterly trends show revenue volatility but improving profitability in recent quarters: Q1 FY26 revenue of ₹103 crore with ₹4 crore profit (OPM 4.2%), up from ₹118 crore revenue and ₹14 crore profit in Q4 FY25 (OPM 12.7%), though down from ₹150 crore revenue and ₹16 crore profit in Q1 FY26 (OPM 16%). This suggests seasonality and margin pressure in lower-volume quarters, but full-year FY26 results confirm 10% revenue growth and strong PAT expansion. The margin trajectory aligns with management’s focus on operational efficiency and scale-driven profitability in higher-margin segments.
🔮 Management Outlook & What's Next
Management targets 100,000 direct chemist outlets by FY27, full commissioning of the ₹150 crore sanitary napkin plant in Q1 FY27, and 85% digital process digitisation by FY26-end. They emphasize rural market penetration, digital channel expansion (E-Com, Q-Com), and new product launches as growth levers. The relaunch of the 'Relief' brand in FY27 and continued focus on the $15B Indian health and wellness market underscore a long-term growth narrative anchored in scalability and sustainability.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2016 |
|---|---|
| Equity Capital | 3 |
| Reserves | 106 |
| Borrowings | 3 |
| Total Liabilities | 140 |
| Fixed Assets | 29 |
| Investments | 9 |
| Total Assets | 140 |
The balance sheet shows minimal debt (D/E of 0.02) and strong equity reserves, indicating a conservative capital structure. There is no evidence of large-scale capex beyond the planned ₹150 crore plant, suggesting disciplined investment. The company is not returning capital beyond regular dividends, focusing instead on reinvestment for growth. This supports a long-term value creation model rather than financial engineering.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2016 |
|---|---|
| Operating | +21 |
| Investing | +4 |
| Financing | -13 |
| Net Cash Flow | +12 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 46.5% | 46.5% | 46.5% | 46.5% |
| FII | 2.4% | 2.3% | 2.2% | 2.4% |
| DII | 12.9% | 13.0% | 12.7% | 12.3% |
| Public | 32.2% | 32.1% | 32.2% | 32.1% |
| # Shareholders | 47,954 | 46,675 | 45,805 | 45,135 |
Institutional interest is gradually increasing: FII holding rose from 2.17% (Q4 FY26) to 2.44% (Q1 FY27), and DII from 12.66% to 12.28% (though slightly down quarter-on-quarter). Promoter holding remains stable at 46.52%. The growing institutional presence, alongside a rising shareholder base (45,135 to 47,954 shareholders), signals increasing market confidence and retail participation.
⚖️ Peer Comparison — Pharmaceuticals
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| SUNPHARMA | 4.46 L Cr | 36.9 | 18.7% | — | 0.05 |
| DIVISLAB | 2.52 L Cr | 86.0 | 23.0% | — | 0.00 |
| TORNTPHARM | 1.87 L Cr | 78.4 | 15.1% | — | 1.76 |
| ZYDUSLIFE | 1.19 L Cr | 26.6 | 16.8% | — | 0.43 |
| CIPLA | 1.12 L Cr | 33.1 | 13.2% | — | 0.01 |
| LAURUSLABS | 1.07 L Cr | 98.0 | 20.8% | — | 0.45 |
| MANKIND | 1.05 L Cr | 51.4 | 13.9% | — | 0.38 |
| DRREDDY | 1.04 L Cr | 32.3 | 10.1% | — | 0.17 |
| AUROPHARMA | 97,987 | 26.6 | 12.8% | — | 0.20 |
| LUPIN | 94,190 | 16.6 | 27.9% | — | 0.26 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Margin pressure in lower-volume quarters (e.g., Q1 FY26 OPM at 4.2%) suggests sensitivity to demand fluctuations and pricing pressures in competitive OTC segments. 2) Execution risk around the ₹150 crore plant’s timely commissioning and profitability contribution in FY27. 3) US market entry via Amazon US is nascent and may face regulatory or competitive challenges. 4) Revenue growth relies heavily on distribution expansion and new product adoption, which may not materialize at scale without consistent consumer uptake.
📋 Recent Filings
- Announcement2026-09-25Amrutanjan Health Care Ltd announced that its designated insiders must remain in a closed trading window from October 1, 2026 until 48 hours after the…
- 🟡 voting results2026-09-24Amrutanjan Health Care held its 89th AGM on September 23, 2026 via video conference, with 28,910,630 shareholders participating remotely. Shareholders…
- 🟡 Board Meeting2026-09-23Amrutanjan Health Care held its 89th AGM on September 23, 2026, where shareholders approved the audited financial statements, declared a final dividen…
- 🔴 annual report2026-08-28Amrutanjan Health Care Ltd reported FY26 revenue of ₹50,255.27 crore, up 10% YoY, with PAT at ₹5,791.78 crore and dividend of [amount context mismatch…
- 🟡 sustainability report2026-08-28Amrutanjan Health Care Ltd's BRSR filing highlights robust growth in OTC and women's hygiene segments, with 11% revenue and 25% profit growth (pre-exc…
- Announcement2026-08-12Amrutanjan Health Care reported Q1 FY27 net sales of ₹102.97 crores, up 9.48% YoY, driven by strong growth in women's hygiene (+27.09%) and beverages …
- 🔴 Corporate Action2026-08-11Amrutanjan Health Care Limited announced that September 11, 2026 will be the record date for payment of the final dividend for the financial year 2025…
- 🟡 Board Meeting2026-08-11The board approved unaudited Q1 FY26 results showing revenue of [amount not verified], profit after tax of **[amount context mismatch] lakhs**, and de…
- Announcement2026-08-01Amrutanjan Health Care Limited paid Rs.9.75 crores in lease rent arrears to Kapaleeswarar Temple following a Madras High Court order, resolving a long…
- Financial Results2026-06-24Amrutanjan Health Care Limited announced that its designated insiders must remain in a closed trading window from July 1, 2026, until 48 hours after t…
🧠 Analyst's Read
Amrutanjan Health Care is transitioning into a scalable, digitally integrated health and wellness platform with clear long-term growth drivers. Investors should monitor execution of the sanitary napkin plant rollout, rural distribution targets, and US market traction as next-phase catalysts. The company’s financial discipline and rising institutional interest support a constructive long-term outlook, provided operational execution remains on track.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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