Anthem Biosciences Limited (ANTHEM)

Healthcare · Pharmaceuticals & Biotechnology · NSE · Updated 22 July 2026

₹778.9 ↑ 6.33% (1Y)

🎯 Key Takeaways

Anthem Biosciences is in a strategic transition phase, shifting from short-term revenue volatility to sustainable growth driven by margin expansion and capital efficiency. Despite a 22.
Revenue grew 44.4% QoQ to ₹611 in Q4FY26.
⚠️ Revenue volatility due to customer delivery timing shifts in CRDMO and specialty ingredients segments.

Market Cap

₹43,999

P/E Ratio

109.4

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Anthem Biosciences is in a strategic transition phase, shifting from short-term revenue volatility to sustainable growth driven by margin expansion and capital efficiency. Despite a 22.6% YoY revenue decline in Q1FY27 due to delivery timing shifts, the company is leveraging strong cash reserves and operational discipline to position for long-term value creation.

📰 What's Happening

In Q1FY27, Anthem reported consolidated revenue of ₹4,182 crores (down 22.6% YoY) with PAT at ₹1,199 crores and EBITDA margin at 39.6%, reflecting improved operational efficiency. The board approved unaudited results and issued 1.67 million shares under ESOPS 2024, signaling confidence in future growth. Management highlighted timing-related delivery shifts but emphasized sustained demand and margin expansion through cost efficiencies and yield optimization in H2FY27. The company also released its BRSR report, underscoring ESG commitments and climate risk mitigation.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q1FY26	Q2FY26	Q3FY26	Q4FY26
Revenue	540	550	423	611
Operating Profit	214	266	165	319
OPM %	35.5%	39.6%	37.1%	43.7%
Net Profit	136	173	93	190
EPS	₹2.43	₹3.09	₹1.65	₹0.00

Revenue has shown volatility over the past four quarters, peaking at ₹611 crores in Q4FY26 before declining to ₹4,182 crores in Q1FY27, while operating margins have remained resilient above 35%. Net profit margins improved to 27.1% in Q1FY27 from prior quarters, supported by EBITDA margin expansion to 39.6%. Despite revenue headwinds, PAT rose to ₹1,199 crores in Q1FY27 from ₹1,020 crores standalone in the same period, indicating strong cost control and profitability management amid macroeconomic pressures.

🔮 Management Outlook & What's Next

Management expects sustained revenue growth in H2FY27 aligned with historical performance, driven by cost efficiencies, yield optimization, and margin expansion. Forward-looking statements in the Q1FY27 results release reaffirm confidence in long-term growth prospects despite near-term delivery timing impacts. The company is focused on scaling high-margin segments like CRDMO and specialty ingredients, with no public guidance on revenue targets but clear emphasis on profitability and operational discipline.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	2025-2026	2025-2026	2025-2026	2025-2026
Equity Capital	112	112	112	112
Reserves	—	2,640	—	2,930
Borrowings	—	106	—	51
Total Liabilities	—	532	—	387
Fixed Assets	—	762	—	780
Investments	—	545	—	1,007
Total Assets	—	3,284	—	3,429

Anthem maintains a robust balance sheet with total assets of ₹3,429 crores and net cash position of ₹17,197 crores as of June 30, 2026, providing significant financial flexibility. Borrowings remain low and stable, while equity and reserves reflect strong capital accumulation. The company is actively returning value through dividends (₹2 per share approved) and ESOPS issuance, suggesting a capital allocation strategy focused on both growth investments and shareholder returns.

⚖️ Peer Comparison — Pharmaceuticals & Biotechnology

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Sun Pharmaceutical Industries Limited	4.51 L Cr	41.3	20.3%	15.1%	0.03
Divi's Laboratories Limited	1.79 L Cr	72.4	22.1%	16.6%	0.00
Torrent Pharmaceuticals Limited	1.49 L Cr	80.1	—	—	—
Cipla Limited	1.16 L Cr	25.4	19.4%	14.6%	0.00
Dr. Reddy's Laboratories Limited	1.12 L Cr	20.0	19.7%	16.6%	0.12
Lupin Limited	1.04 L Cr	36.2	—	—	—
Mankind Pharma Limited	1.03 L Cr	49.2	—	—	—
Zydus Lifesciences Limited	1.02 L Cr	22.5	—	—	—
Aurobindo Pharma Limited	87,806	25.3	—	—	—
Laurus Labs Limited	71,455	356.8	—	—	—

🔗 Peer Stock Analyses

SUNPHARMA DIVISLAB TORNTPHARM CIPLA DRREDDY

⚠️ Risk Factors

1. Revenue volatility due to customer delivery timing shifts in CRDMO and specialty ingredients segments. 2. High P/E ratio of 109.4 suggests market expectations may be pricing in future growth that could be challenging to sustain without clear revenue visibility. 3. Dependence on export markets (85% export revenue) exposes the company to global demand and currency fluctuations. 4. Limited transparency in forward guidance may reduce investor confidence during transition periods.

📋 Recent Filings

🧠 Analyst's Read

Anthem Biosciences is navigating near-term revenue headwinds but is building a foundation for long-term resilience through margin discipline, strong cash flows, and strategic capital allocation. Investors should monitor H2FY27 execution, particularly the pace of revenue recovery and margin improvement, as key indicators of management's ability to convert operational efficiency into sustainable top-line growth.

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 2026-07-22.

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