Anthem Biosciences Ltd
Incorporated in 2006, Anthem Biosciences
Ltd is in the business of providing CRDMO services and the manufacture and sale of specialty ingredients.[1]
- Market Cap ₹ 35,418 Cr.
- Current Price ₹ 631
- High / Low ₹ 874 / 627
- Stock P/E 66.3
- Book Value ₹ 50.8
- Dividend Yield 0.00 %
- ROCE 30.7 %
- ROE 23.0 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.9%
Cons
- Stock is trading at 12.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 626 | 633 | 1,103 | 1,231 | 1,057 | 1,418 | 1,841 | |
| 454 | 451 | 695 | 666 | 626 | 912 | 1,151 | |
| Operating Profit | 172 | 182 | 408 | 566 | 431 | 505 | 690 |
| OPM % | 27% | 29% | 37% | 46% | 41% | 36% | 37% |
| 21 | 21 | 37 | 49 | 139 | 70 | 109 | |
| Interest | 18 | 20 | 17 | 10 | 9 | 9 | 9 |
| Depreciation | 61 | 62 | 62 | 58 | 64 | 81 | 78 |
| Profit before tax | 114 | 121 | 366 | 547 | 498 | 485 | 711 |
| Tax % | 32% | 23% | 26% | 26% | 23% | 23% | 29% |
| 77 | 93 | 271 | 406 | 386 | 375 | 506 | |
| EPS in Rs | 91.97 | 110.62 | 319.77 | 462.60 | 6.76 | 6.70 | 9.05 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 14% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 8% |
| TTM: | 35% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 22% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 9 | 114 | 112 | 112 | 112 |
| Reserves | 323 | 413 | 693 | 1,347 | 1,628 | 1,821 | 2,361 | 2,741 |
| 192 | 159 | 100 | 35 | 115 | 173 | 113 | 110 | |
| 194 | 207 | 232 | 228 | 136 | 219 | 249 | 387 | |
| Total Liabilities | 718 | 787 | 1,034 | 1,619 | 1,993 | 2,324 | 2,836 | 3,350 |
| 316 | 306 | 361 | 329 | 449 | 478 | 624 | 609 | |
| CWIP | 12 | 50 | 19 | 153 | 143 | 156 | 58 | 81 |
| Investments | 73 | 99 | 209 | 273 | 499 | 472 | 533 | 645 |
| 318 | 333 | 444 | 865 | 902 | 1,219 | 1,620 | 2,016 | |
| Total Assets | 718 | 787 | 1,034 | 1,619 | 1,993 | 2,324 | 2,836 | 3,350 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 196 | 166 | 278 | 333 | 319 | 164 | 440 | |
| -121 | -109 | -196 | -206 | -378 | -192 | -246 | |
| -65 | -48 | -63 | 181 | 53 | -132 | -66 | |
| Net Cash Flow | 9 | 9 | 18 | 308 | -6 | -159 | 127 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 68 | 61 | 84 | 97 | 95 | 126 | 89 |
| Inventory Days | 123 | 186 | 29 | 52 | 139 | 129 | 167 |
| Days Payable | 72 | 87 | 50 | 58 | 77 | 61 | 54 |
| Cash Conversion Cycle | 119 | 160 | 63 | 91 | 157 | 194 | 201 |
| Working Capital Days | 22 | 20 | 27 | 75 | 114 | 129 | 128 |
| ROCE % | 26% | 55% | 51% | 28% | 25% | 31% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 Nov - H1 FY26 revenue Rs1,090Cr, EBITDA Rs480Cr (41.4%), PAT Rs309Cr; Rs1,000Cr Unit-IV CAPEX two-year plan.
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Intimation Of Violation Under Company'S Code Of Conduct To Regulate, Monitor And Report Trading By Designated Persons As Required Under SEBI (Prohibition Of Insider Trading) Regulations 2015 ('SEBI PIT Regulations')
11 Nov - Two DPs sold ESOP shares during trading window closure: 5,000 shares (Rs41.75 lakh on 15/09/2025) and 674 shares in Oct.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
10 Nov - Newspaper Publication of Financial Result for the quarter and half year ended September 30, 2025
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10 Nov - Audio recording of earnings call for quarter and half-year ended Sep 30, 2025, posted Nov 10.
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Announcement under Regulation 30 (LODR)-Investor Presentation
8 Nov - Investors Presentation for the financial results for quarter and half year ended September 30, 2025.
Concalls
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
Business Overview:[1]
ABL is a Contract Research, Development,
and Manufacturing Organization with fully integrated operations across the drug discovery, development, and manufacturing value chain. It is among the few companies in India offering capabilities in both New Chemical
Entity (NCE) and New Biological Entity (NBE) programs. The company has developed various platforms such as RNA interference (RNAi),
Antibody-Drug Conjugates (ADCs), peptides, lipids, and oligonucleotides.