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 ₹ 52,792 Cr.
- Current Price ₹ 937
- High / Low ₹ 989 / 579
- Stock P/E 79.4
- Book Value ₹ 60.6
- Dividend Yield 0.21 %
- ROCE 32.0 %
- ROE 24.3 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 20.4% CAGR over last 5 years
- Company's working capital requirements have reduced from 113 days to 82.2 days
Cons
- Stock is trading at 15.5 times its book value
* 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 626 | 633 | 1,103 | 1,231 | 1,057 | 1,418 | 1,841 | 2,089 | 1,955 | |
| Sales growth | +1% | +74% | +12% | -14% | +34% | +30% | +14% | -5% | |
| 454 | 451 | 695 | 666 | 626 | 912 | 1,151 | 1,238 | 1,129 | |
| Operating Profit | 172 | 182 | 408 | 566 | 431 | 505 | 690 | 851 | 826 |
| OPM % | 27% | 29% | 37% | 46% | 41% | 36% | 37% | 41% | 42% |
| 21 | 21 | 37 | 49 | 139 | 70 | 109 | 158 | 170 | |
| Interest | 18 | 20 | 17 | 10 | 9 | 9 | 9 | 7 | 7 |
| Depreciation | 61 | 62 | 62 | 58 | 64 | 81 | 78 | 100 | 98 |
| Profit before tax | 114 | 121 | 366 | 547 | 498 | 485 | 711 | 903 | 891 |
| Tax % | 32% | 23% | 26% | 26% | 23% | 23% | 29% | 26% | |
| 77 | 93 | 271 | 406 | 386 | 375 | 506 | 671 | 647 | |
| EPS in Rs | 1.41 | 1.70 | 4.92 | 7.11 | 6.76 | 6.70 | 9.05 | 11.94 | 11.50 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 26% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 26% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 34% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 23% |
| Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 9 | 114 | 112 | 112 | 112 | 113 |
| Reserves | 323 | 413 | 693 | 1,347 | 1,628 | 1,821 | 2,361 | 3,072 | 3,302 |
| 192 | 159 | 100 | 35 | 115 | 173 | 113 | 50 | 41 | |
| 194 | 207 | 232 | 228 | 136 | 219 | 249 | 296 | 329 | |
| Total Liabilities | 718 | 787 | 1,034 | 1,619 | 1,993 | 2,324 | 2,836 | 3,531 | 3,784 |
| 316 | 306 | 361 | 329 | 449 | 478 | 624 | 613 | 598 | |
| CWIP | 12 | 50 | 19 | 153 | 143 | 156 | 58 | 84 | 129 |
| Investments | 73 | 99 | 209 | 273 | 499 | 472 | 533 | 1,380 | 1,634 |
| 318 | 333 | 444 | 865 | 902 | 1,219 | 1,620 | 1,455 | 1,423 | |
| Total Assets | 718 | 787 | 1,034 | 1,619 | 1,993 | 2,324 | 2,836 | 3,531 | 3,784 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 196 | 166 | 278 | 333 | 319 | 164 | 300 | 889 | |
| -121 | -109 | -196 | -206 | -378 | -192 | -250 | -742 | |
| -65 | -48 | -63 | 181 | 53 | -132 | -68 | -44 | |
| Net Cash Flow | 9 | 9 | 18 | 308 | -6 | -159 | -18 | 104 |
| Free Cash Flow | 144 | 119 | 159 | 308 | 145 | 41 | 171 | 753 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 114% | 116% | 85% | 81% | 101% | 56% | 67% | 128% |
Ratios
Standalone / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 68 | 61 | 84 | 97 | 95 | 126 | 89 | 100 |
| Inventory Days | 123 | 186 | 29 | 52 | 139 | 129 | 167 | 55 |
| Days Payable | 72 | 87 | 50 | 58 | 77 | 61 | 54 | 32 |
| Cash Conversion Cycle | 119 | 160 | 63 | 91 | 157 | 194 | 201 | 122 |
| Working Capital Days | 22 | 20 | 27 | 75 | 114 | 129 | 128 | 82 |
| ROCE % | 26% | 55% | 51% | 28% | 25% | 31% | 32% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| CRDMO Revenue Share % |
|
|||
| Custom Synthesis Installed Capacity kL |
||||
| Fermentation Installed Capacity kL |
||||
| Number of Commercial Molecules count |
||||
| Number of Late-Phase (Phase 3) Molecules count |
||||
| Number of Scientific Staff count |
||||
| Custom Synthesis Capacity Utilization % |
||||
| Fermentation Capacity Utilization % |
||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of Q2 & H1 FY27 Earnings Conference Call
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2/H1 FY2026 earnings call made available on company website.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper publication on Unaudited Consolidated and Standalone Financial Results for the quarter and half year ended September 30, 2026
-
Announcement under Regulation 30 (LODR)-Investor Presentation
- Investors presentation for the financial results for the quarter and half year ended September 30, 2026.
Concalls
-
Nov 2026Transcript PPT REC
-
Jul 2026Transcript PPT REC
-
Jul 2026PPT
-
May 2026Transcript PPT REC
-
Feb 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
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.