Themis Medicare Ltd

₹ 102 -1.50%

18 Jun 1:45 p.m.

themismedicare.com BSE: 530199 NSE: THEMISMED

About

Incorporated in 1969, Themis Medicare manufactures Formulation and API pharmaceutical products^[1]

Key Points

Business Overview:^[1]
TML is in manufacturing antiseptics, anti-tuberculosis, anti-malarial, anti-cholesterol and pain management drugs.

Website BSE NSE

Market Cap ₹ 938 Cr.
Current Price ₹ 102
High / Low ₹ 148 / 65.0
Stock P/E
Book Value ₹ 32.7
Dividend Yield 0.48 %
ROCE -0.46 %
ROE -4.31 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 3.12 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 8.21% over past five years.
Company has a low return on equity of 3.87% over last 3 years.
Earnings include an other income of Rs.8.49 Cr.
Company has high debtors of 190 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

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	80.10	69.32	104.78	82.51	75.52	122.99	117.01	93.81	71.70	97.58	77.99	90.13	76.53
	69.61	57.88	92.37	74.44	67.04	93.81	99.89	85.28	77.48	107.67	81.09	80.32	72.76
Operating Profit	10.49	11.44	12.41	8.07	8.48	29.18	17.12	8.53	-5.78	-10.09	-3.10	9.81	3.77
OPM %	13.10%	16.50%	11.84%	9.78%	11.23%	23.73%	14.63%	9.09%	-8.06%	-10.34%	-3.97%	10.88%	4.93%
	2.95	6.32	2.44	0.56	-0.25	0.96	1.14	1.02	1.55	-0.11	3.24	0.41	3.67
Interest	2.71	1.76	2.04	2.68	1.68	2.36	2.44	2.79	2.45	2.47	2.76	2.75	2.70
Depreciation	2.80	1.05	3.07	3.10	0.99	2.41	2.45	2.54	2.53	2.55	2.57	2.59	2.60
Profit before tax	7.93	14.95	9.74	2.85	5.56	25.37	13.37	4.22	-9.21	-15.22	-5.19	4.88	2.14
Tax %	23.83%	16.05%	27.10%	29.82%	44.60%	26.25%	26.18%	27.01%	-15.85%	1.05%	3.08%	5.94%	7.94%
	6.04	12.56	7.10	2.00	3.09	18.71	9.87	3.08	-7.74	-15.37	-5.36	4.58	1.97
EPS in Rs	0.66	1.37	0.77	0.22	0.34	2.03	1.07	0.33	-0.84	-1.67	-0.58	0.50	0.21
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	167	203	217	210	184	202	231	395	354	382	406	342
	156	171	184	184	182	166	181	299	287	330	356	343
Operating Profit	11	31	33	26	3	36	50	96	67	52	49	-1
OPM %	7%	15%	15%	12%	1%	18%	22%	24%	19%	14%	12%	-0%
	12	3	3	3	3	3	4	7	12	5	5	8
Interest	14	12	12	12	12	13	13	9	10	9	10	11
Depreciation	7	7	7	7	8	8	9	9	10	12	10	10
Profit before tax	2	15	16	9	-15	18	32	84	59	35	34	-13
Tax %	-30%	-4%	10%	1%	-13%	12%	17%	27%	26%	29%	29%	6%
	2	15	15	9	-13	16	27	62	43	25	24	-14
EPS in Rs	0.24	1.77	1.64	1.01	-1.38	1.73	2.90	6.69	4.71	2.69	2.60	-1.54
Dividend Payout %	0%	0%	0%	0%	0%	10%	15%	7%	11%	19%	19%	-32%

Compounded Sales Growth
10 Years:	5%
5 Years:	8%
3 Years:	-1%
TTM:	-16%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-156%

Stock Price CAGR
10 Years:	6%
5 Years:	8%
3 Years:	-10%
1 Year:	-23%

Return on Equity
10 Years:	9%
5 Years:	10%
3 Years:	4%
Last Year:	-4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	9	9	9	9	9	9	9	9	9	9	9
Reserves	40	56	133	147	134	150	177	234	273	292	311	292
	109	95	82	80	82	100	87	80	92	96	83	100
	67	61	54	56	74	67	65	61	82	93	102	99
Total Liabilities	225	220	278	292	299	326	338	384	456	490	506	500
	92	89	124	126	123	116	133	144	162	168	172	167
CWIP	3	5	9	2	2	8	2	3	3	3	3	2
Investments	11	11	12	11	11	11	11	11	11	11	11	11
	119	115	133	153	162	191	192	226	280	308	320	320
Total Assets	225	220	278	292	299	326	338	384	456	490	506	500

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	19	-2	8	11	0	57	34	16	22	35	-3
	-2	-4	-4	-0	-4	-5	-16	-16	-24	-16	-12	-3
	-15	-13	5	-9	-10	7	-26	-18	0	-9	-26	4
Net Cash Flow	-6	2	-0	-1	-3	2	16	1	-8	-3	-3	-2
Free Cash Flow	9	13	-7	5	5	-5	39	15	-13	4	21	-8
CFO/OP	96%	58%	-5%	28%	439%	2%	114%	55%	48%	60%	93%	-356%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	88	73	81	120	145	186	123	93	150	170	160	190
Inventory Days	223	210	250	253	284	313	273	150	213	188	233	229
Days Payable	272	152	163	156	186	171	144	79	123	126	142	143
Cash Conversion Cycle	38	131	168	217	243	328	253	165	239	233	251	275
Working Capital Days	-50	-40	-16	21	1	38	54	74	111	117	123	138
ROCE %	10%	17%	15%	9%	-1%	13%	17%	31%	20%	11%	11%	-0%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Number of Permanent Employees
Count

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

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R&D Expenditure (Total)
INR Lakhs

Production Volumes (Bulk Drugs)
Metric Tonnes

Production Volumes (Formulations)
Units

Number of Formulations Dossiers Filled (ROW)
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	67.16%	67.16%	67.16%	67.15%	67.15%	67.15%	67.15%	67.15%	67.15%	67.15%	67.10%	67.10%
	0.04%	0.05%	0.01%	0.03%	0.05%	0.10%	0.10%	0.14%	0.09%	0.06%	0.05%	0.11%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	32.80%	32.77%	32.82%	32.81%	32.79%	32.74%	32.75%	32.70%	32.75%	32.77%	32.84%	32.78%
No. of Shareholders	6,007	6,970	11,244	11,295	11,322	14,270	17,773	17,889	19,335	22,490	22,576	21,818

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	66.99%	67.32%	67.32%	67.27%	67.26%	67.18%	67.16%	67.15%	67.15%	67.10%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.03%	0.14%	0.11%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	33.00%	32.67%	32.67%	32.72%	32.73%	32.81%	32.78%	32.81%	32.70%	32.78%
No. of Shareholders	4,215	4,039	4,032	3,902	5,858	5,891	5,927	11,295	17,889	21,818

* 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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