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 ₹ 37,202 Cr.
- Current Price ₹ 660
- High / Low ₹ 874 / 579
- Stock P/E 74.0
- Book Value ₹ 49.0
- Dividend Yield 0.00 %
- ROCE 28.5 %
- ROE 20.8 %
- 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 21.0%
Cons
- Stock is trading at 13.5 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 633 | 1,103 | 1,231 | 1,057 | 1,419 | 1,845 | 1,997 | |
| 451 | 695 | 666 | 626 | 914 | 1,173 | 1,235 | |
| Operating Profit | 182 | 408 | 565 | 431 | 506 | 672 | 762 |
| OPM % | 29% | 37% | 46% | 41% | 36% | 36% | 38% |
| 21 | 37 | 49 | 139 | 63 | 85 | 93 | |
| Interest | 20 | 17 | 10 | 9 | 10 | 11 | 6 |
| Depreciation | 62 | 62 | 58 | 64 | 82 | 89 | 125 |
| Profit before tax | 121 | 366 | 546 | 497 | 477 | 657 | 725 |
| Tax % | 23% | 26% | 26% | 23% | 23% | 31% | |
| 93 | 271 | 406 | 385 | 367 | 451 | 485 | |
| EPS in Rs | 110.62 | 319.74 | 462.09 | 6.75 | 6.57 | 8.07 | 8.64 |
| Dividend Payout % | 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: | 37% |
| 3 Years: | 4% |
| TTM: | 23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 21% |
| Last Year: | 21% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 9 | 114 | 112 | 112 | 112 |
| Reserves | 413 | 693 | 1,346 | 1,627 | 1,813 | 2,298 | 2,640 |
| 159 | 100 | 35 | 126 | 239 | 113 | 108 | |
| 207 | 232 | 228 | 148 | 235 | 284 | 424 | |
| Total Liabilities | 787 | 1,034 | 1,619 | 2,014 | 2,398 | 2,808 | 3,284 |
| 306 | 361 | 329 | 449 | 483 | 705 | 769 | |
| CWIP | 50 | 19 | 154 | 164 | 345 | 297 | 263 |
| Investments | 99 | 209 | 273 | 499 | 472 | 433 | 545 |
| 333 | 445 | 863 | 902 | 1,099 | 1,373 | 1,707 | |
| Total Assets | 787 | 1,034 | 1,619 | 2,014 | 2,398 | 2,808 | 3,284 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 166 | 278 | 333 | 306 | 140 | 418 | |
| -109 | -196 | -205 | -376 | -221 | -152 | |
| -48 | -63 | 181 | 64 | -77 | -134 | |
| Net Cash Flow | 9 | 18 | 308 | -6 | -158 | 133 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 61 | 84 | 97 | 95 | 126 | 89 |
| Inventory Days | 186 | 29 | 52 | 139 | 129 | 167 |
| Days Payable | 87 | 50 | 50 | 77 | 61 | 54 |
| Cash Conversion Cycle | 160 | 63 | 99 | 156 | 193 | 202 |
| Working Capital Days | 20 | 27 | 75 | 112 | 128 | 134 |
| ROCE % | 55% | 51% | 28% | 24% | 28% |
Insights
In beta| Mar 2010 | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Custom Synthesis Capacity kL |
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| Fermentation Capacity kL |
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| Fixed Asset Turnover x |
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| Number of Commercial Molecules Number |
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Documents
Announcements
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 (SEBI LODR Regulations)
23 Feb - First Amendment allows conversion of additional Rs 275 crore loan into Neoanthem equity; total sanction Rs 550 crore.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 9 Feb
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Feb - Newspaper Publication of Financial Results for the quarter and nine months ended December 31, 2025
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Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised)
5 Feb - Q3 and 9MFY26 results: 9MF revenue 15,134 Mn; EBITDA 6,712 Mn; PAT 4,020 Mn.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 Feb - Audio of earnings call for quarter and nine months ended Dec 31, 2025 published Feb 05, 2026.
Concalls
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Feb 2026Transcript PPT REC
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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.