Bliss GVS Pharma Ltd

₹ 648 -4.91%

30 Oct - close price

About

Incorporated in 1984, Bliss GVS Pharma Limited is engaged in manufacturing, marketing, trading and export of pharmaceutical formulations in the form of suppositories, pessaries, capsules, tablets, and syrups.

Key Points

Change of Promoter^[1] ^[2]
In May 2026, the company disclosed that certain promoter and non-promoter shareholders had entered into a Share Purchase Agreement with Anupam Rasayan India Ltd for the proposed acquisition of approximately 43.28% of its paid-up equity share capital for Rs. 1,369 Cr, subject to regulatory approvals and other closing conditions. The transaction also triggered a mandatory open offer for up to an additional 26% stake from public shareholders.

Website BSE NSE - BE

Market Cap ₹ 6,888 Cr.
Current Price ₹ 648
High / Low ₹ 745 / 118
Stock P/E 42.4
Book Value ₹ 121
Dividend Yield 0.23 %
ROCE 16.9 %
ROE 11.8 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is almost debt free.
Promoter holding has increased by 15.1% over last quarter.

Cons

Stock is trading at 5.34 times its book value
The company has delivered a poor sales growth of 9.94% over past five years.
Company has a low return on equity of 10.2% over last 3 years.
Promoters have pledged 95.8% of their holding.
Company has high debtors of 204 days.

* 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.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	212	201	198	184	218	210	198	207	244	218	257	286	313
	158	157	170	149	176	181	177	166	201	183	213	209	233
Operating Profit	54	44	28	34	41	30	21	41	43	35	44	76	81
OPM %	26%	22%	14%	19%	19%	14%	11%	20%	18%	16%	17%	27%	26%
	13	5	-24	4	5	15	12	35	8	16	11	10	8
Interest	1	2	2	2	4	1	2	5	3	1	2	1	3
Depreciation	6	7	7	7	7	8	8	8	8	8	9	10	10
Profit before tax	59	40	-4	30	36	36	23	63	41	41	45	75	75
Tax %	27%	27%	24%	26%	28%	29%	29%	30%	30%	39%	18%	32%	29%
	43	29	-5	22	26	26	17	44	29	25	37	51	53
EPS in Rs	4.05	2.64	-0.87	1.97	2.31	2.26	1.47	4.08	2.58	2.20	3.36	4.72	4.91
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	407	547	798	815	899	689	577	747	752	770	810	927	1,074
	304	391	596	618	739	566	471	629	634	620	683	760	838
Operating Profit	103	156	203	197	160	123	107	118	117	151	127	168	236
OPM %	25%	29%	25%	24%	18%	18%	18%	16%	16%	20%	16%	18%	22%
	20	24	12	-8	35	26	20	-42	18	-0	36	67	45
Interest	16	19	20	23	4	8	6	5	10	7	8	12	7
Depreciation	11	13	20	21	9	13	17	17	19	26	29	33	37
Profit before tax	96	148	175	145	182	129	104	54	106	117	126	190	236
Tax %	36%	32%	36%	39%	30%	26%	29%	57%	28%	30%	28%	29%
	61	100	113	89	127	95	74	23	77	82	90	135	166
EPS in Rs	5.81	8.00	7.95	5.70	11.99	9.43	6.64	1.45	6.80	7.21	8.00	12.21	15.19
Dividend Payout %	12%	6%	8%	18%	8%	5%	8%	34%	7%	7%	6%	4%

Compounded Sales Growth
10 Years:	5%
5 Years:	10%
3 Years:	7%
TTM:	25%

Compounded Profit Growth
10 Years:	5%
5 Years:	14%
3 Years:	23%
TTM:	48%

Stock Price CAGR
10 Years:	15%
5 Years:	44%
3 Years:	89%
1 Year:	313%

Return on Equity
10 Years:	11%
5 Years:	9%
3 Years:	10%
Last Year:	12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	10	10	10	10	10	10	10	10	10	10	11	11	11
Reserves	327	402	476	526	636	725	798	808	873	957	1,040	1,182	1,280
	160	132	225	118	102	126	122	109	102	100	88	22	23
	166	218	311	206	157	168	147	181	171	145	163	278	269
Total Liabilities	662	762	1,023	860	905	1,030	1,077	1,109	1,157	1,212	1,301	1,492	1,582
	234	225	305	143	146	242	234	281	379	370	406	459	471
CWIP	0	9	4	0	47	0	2	22	3	8	21	6	8
Investments	0	0	0	0	0	0	0	2	8	4	4	5	4
	428	527	714	717	712	788	840	803	768	830	871	1,022	1,100
Total Assets	662	762	1,023	860	905	1,030	1,077	1,109	1,157	1,212	1,301	1,492	1,582

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	38	113	289	18	40	47	64	135	34	103	106	139
	-29	-50	-249	48	-79	-40	-45	-103	-6	-83	-75	-38
	-42	-40	-10	-76	17	-6	-21	-24	-25	-21	-30	-89
Net Cash Flow	-34	23	30	-10	-22	0	-2	9	3	-1	0	11
Free Cash Flow	5	101	186	-7	2	-12	55	63	-59	75	33	84
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	45%	101%	160%	29%	-8%	69%	87%	143%	67%	91%	112%	108%

Ratios

Consolidated / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	222	201	116	134	187	290	293	192	187	192	198	204
Inventory Days	69	55	50	55	46	64	110	116	94	113	111	129
Days Payable	165	153	100	55	47	75	82	86	79	58	63	89
Cash Conversion Cycle	126	102	67	134	186	279	321	221	202	247	246	244
Working Capital Days	105	84	-10	135	154	232	264	179	192	207	198	214
ROCE %	23%	31%	29%	27%	26%	18%	12%	14%	12%	14%	12%	17%

Insights

In beta

Mar 2017

Mar 2018

Mar 2019

Mar 2021

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Number of branded formulations
count ・Standalone data

	xxx	xxx		xxx	xxx	xxx	xxx
	x	x	x	x	x		x
xx.xx	xx.xx	xx.xx			xx.xx	xx.xx	xx.xx
		xxx	xxx	xxx	xxx		xxx
		xxx	xxx	xxx	xxx		x,xxx
	xx	xx		xx		xx	xx
		x.xx	x.xx	x.xx	x.xx	x.xx	x.xx

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Number of manufacturing units
count ・Standalone data

Revenue from Africa (% of consolidated revenue)
% of revenue

Installed capacity - Suppositories and Pessaries
Mn units per annum ・Standalone data

Installed capacity - Tablets
Mn units per annum ・Standalone data

Number of countries of presence
count ・Standalone data

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	34.97%	34.97%	34.90%	34.82%	35.10%	35.29%	35.44%	35.39%	35.36%	35.36%	35.01%	50.07%
	15.35%	14.74%	13.24%	12.13%	13.51%	13.18%	12.65%	13.27%	14.54%	10.45%	8.07%	5.03%
	6.60%	6.59%	6.58%	6.56%	6.55%	6.55%	6.54%	5.98%	5.78%	5.04%	9.46%	9.62%
	43.08%	43.71%	45.27%	46.49%	44.84%	44.98%	45.37%	45.36%	44.32%	49.15%	47.45%	35.29%
No. of Shareholders	40,758	45,157	44,737	52,937	49,558	49,517	46,707	44,461	43,380	44,874	46,767	47,944

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	60.16%	60.16%	41.60%	41.60%	33.31%	33.14%	35.04%	34.97%	35.29%	35.36%	50.07%
	5.44%	10.84%	23.87%	24.16%	22.83%	17.33%	16.60%	14.74%	13.18%	10.45%	5.03%
	0.25%	0.14%	1.62%	2.96%	6.72%	6.66%	6.63%	6.59%	6.55%	5.04%	9.62%
	34.15%	28.86%	32.91%	31.28%	37.14%	42.87%	41.73%	43.71%	44.98%	49.15%	35.29%
No. of Shareholders	15,811	19,930	15,010	14,151	28,543	45,866	43,041	45,157	49,517	44,874	47,944

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Aug 2019

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