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Latest filing: 2026-07-27 10:57
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24 announcements match the current filters (relevance ≥ 5).
Anthem Biosciences Q1 FY27: Rs 418 Cr Revenue with 39.6% EBITDA Margin; Unit 4 on Track
Anthem reported a soft Q1 FY27 with revenue of Rs 418 cr, primarily due to timing shifts in deliveries to later quarters. Despite the lower top line, the company maintained strong profitability with an EBITDA margin of 39.6% and PAT of Rs 120 cr. Management highlighted a strong order book with 60% visibility for the full year and the addition of a new Big Pharma client. Capacity utilization at Unit 3 has improved to 30-35%, while the major Unit 4 expansion remains on track for commissioning by late FY27.
Confidence: HIGH
What changedDetailed operational data released via earnings transcript, confirming a temporary revenue dip due to delivery timing but maintaining high margins.
Why it mattersConfirms the lumpy nature of the CDMO business while validating the company's ability to maintain ~40% EBITDA margins even during slower quarters.
Q1 Revenue: Rs 418 crEBITDA Margin: 39.6%Unit 3 Utilization: 30-35%Net Cash: Rs 1,720 crOrder Visibility: 60%
📅 Short termThe stock may see neutral to slightly cautious sentiment due to the soft revenue, but the strong margin profile and cash position provide a solid fundamental floor.
📈 Long termStructural growth remains intact with the Unit 4 expansion and increasing utilization of newer facilities like Unit 3, targeting high-potent compounds and peptides.
⚠ Risk flags
- Lumpy quarterly performance due to delivery timing
- High product concentration (top 5 products = 50-55% revenue)
Key Highlights
Consolidated revenue for Q1 FY27 stood at Rs 418 cr, with CRDMO contributing 81.5% (Rs 341 cr).
EBITDA margin remained robust at 39.6%, supported by Rs 25 cr in other income.
Unit 3 utilization increased to 30-35% from 15% in the previous fiscal year.
Unit 4 expansion will add 365 kL of synthesis capacity and 100 kL of fermentation capacity by next year.
The company maintains a strong net cash position of Rs 1,720 cr as of June 30, 2026.
👀 What to Watch
Monitor the ramp-up of Unit 3 utilization and the execution timeline of Unit 4, which is critical for the next leg of growth. Watch for the conversion of the new Big Pharma engagement into commercial revenue in H2 FY27.
Anthem Biosciences Q1 FY27 Revenue Falls 22.6% YoY to ₹418.2 Cr; EBITDA Margins Rise to 39.6%
Anthem Biosciences reported a challenging Q1 FY27 with revenue from operations declining 22.6% YoY to ₹418.2 Cr, primarily due to timing shifts in deliveries to key customers in the CRDMO segment. Despite the top-line contraction, EBITDA margins improved by 153 bps YoY to 39.6%, reflecting disciplined cost management and yield optimization. Profit After Tax (PAT) fell 11.7% YoY to ₹119.9 Cr, though PAT margins expanded to 27.1%. Management expects a stronger performance in the second half of FY27 as delivery schedules are back-ended.
Confidence: HIGH
What changedAnthem experienced a significant quarterly revenue and profit contraction compared to both Q1 FY26 and Q4 FY26, though it successfully expanded its operating margins.
Why it mattersThe results highlight the inherent 'lumpiness' and delivery-timing risks in the CDMO business model, where high product concentration (top 5 products = 50-55% revenue) can lead to volatile quarterly performance.
Revenue (Q1 FY27): ₹418.2 CrYoY Revenue Growth: -22.6%EBITDA Margin: 39.6%PAT (Q1 FY27): ₹119.9 CrNet Cash: ₹1,719.7 CrPhase III Molecules: 10
📅 Short termThe stock may face short-term pressure due to the sharp revenue decline, although the margin resilience and strong cash balance may mitigate the downside.
📈 Long termThe long-term outlook remains tied to the successful commissioning of the ₹1,000 Cr Unit 4 by FY2028 and the scaling of commercial molecules from 14 to higher levels.
⚠ Risk flags
- High product concentration (top 5 products contribute 50-55% of revenue)
- Lumpy quarterly performance due to customer delivery schedules
- Clinical trial failure risks for customer-led molecules
Key Highlights
Revenue from operations decreased 22.6% YoY to ₹4,182 Mn, with the CRDMO segment falling 24.7% to ₹3,408 Mn.
EBITDA margins expanded to 39.6% from 38.1% YoY, despite an 18.1% drop in absolute EBITDA to ₹1,755 Mn.
Net cash position strengthened significantly to ₹17,197 Mn as of June 30, 2026, compared to ₹7,848 Mn a year prior.
The company maintains a pipeline of 14 commercial molecules and 10 late-stage (Phase III) molecules.
Asset turnover for the quarter stood at 1.10x on Gross Fixed Assets.
👀 What to Watch
Investors should monitor the revenue trajectory in Q2 and Q3 to verify management's claim that the Q1 dip was merely a 'timing shift' rather than a structural demand issue. Key milestones include the progress of the 10 Phase III molecules toward commercialization.
Anthem Q1FY27: Revenue drops 22.6% YoY to ₹418.2 Cr; EBITDA margins improve to 39.6%
Anthem Biosciences reported a weak start to FY27 with consolidated revenue declining 22.6% YoY to ₹4,182 Mn, attributed to timing shifts in deliveries to key customers. Despite the top-line contraction, the company maintained a strong margin profile with EBITDA margins expanding to 39.6% from 37.1% YoY. PAT fell 11.7% YoY to ₹1,199 Mn, though PAT margins improved to 27.1%. Management indicated that demand remains strong and performance is expected to be back-ended in the second half of the fiscal year.
Confidence: HIGH
What changedAnthem experienced a significant quarterly contraction in revenue and profit compared to both the previous year and the previous quarter (QoQ revenue down 31.5%).
Why it mattersThe results highlight the inherent lumpiness of the CDMO business model where revenue is highly dependent on specific delivery schedules for a concentrated product portfolio (top 5 products contribute 50-55% of revenue).
Revenue (Q1FY27): ₹4,182 MnYoY Revenue Growth: -22.6%EBITDA Margin: 39.6%PAT Margin: 27.1%Q1 Revenue vs FY26 Revenue: 19.7%
📅 Short termThe stock may face pressure due to the sharp YoY and QoQ decline in top-line and bottom-line figures, despite the margin expansion.
📈 Long termThe long-term outlook depends on the successful scaling of commercial molecules from 10 to 14 and the commissioning of the ₹1,000 Cr Unit 4 by FY2028.
⚠ Risk flags
- High product concentration (top 5 products = 50-55% of revenue)
- Lumpy quarterly performance due to delivery timing shifts
- Vulnerability to customer clinical trial outcomes
Key Highlights
Consolidated Revenue from Operations fell 22.6% YoY to ₹4,182 Mn from ₹5,402 Mn.
CRDMO segment, the primary revenue driver, saw a 24.7% YoY decline to ₹3,408 Mn.
EBITDA margins improved to 39.6% (₹1,755 Mn) driven by cost efficiencies and yield optimization.
PAT declined 11.7% YoY to ₹1,199 Mn, though it showed resilience compared to the 22.6% revenue drop.
Other income contributed ₹249 Mn to the quarter's performance, up 9.2% YoY.
👀 What to Watch
Investors should monitor the H2 FY27 delivery schedule to verify management's claim of 'timing shifts' and watch for the utilization levels of the 130 kL Unit 2 capacity expansion.
Anthem Biosciences Q1FY27 Revenue drops 22.6% YoY to ₹418.2 Cr; EBITDA Margins expand to 39.6%
Anthem Biosciences reported a weak top-line performance for Q1FY27, with revenue from operations falling 22.6% YoY to ₹418.2 Cr. The decline was primarily driven by the core CRDMO segment, which saw a 24.7% revenue contraction due to delivery timing shifts. However, operational efficiency improved as EBITDA margins expanded by 153 bps YoY to 39.6%, and PAT margins rose to 27.1%. Management maintains a positive outlook for H2 FY27, supported by a strong pipeline of 10 Phase III molecules and a robust net cash position of ₹1,719.7 Cr.
Confidence: HIGH
What changedAnthem reported a sharp sequential and yearly decline in revenue and profit for Q1FY27, though it managed to expand its operating margins.
Why it mattersThe results highlight the inherent lumpiness of the CDMO business model where delivery schedules impact quarterly performance; however, the margin expansion suggests strong pricing power and cost control.
Revenue (Q1FY27): ₹418.2 CrYoY Revenue Growth: -22.6%EBITDA Margin: 39.6%Net Cash: ₹1,719.7 CrCustom Synthesis Capacity: 425 KL
📅 Short termThe stock may face short-term pressure due to the 31.5% QoQ revenue decline and 36.8% QoQ PAT decline, despite management's optimistic commentary on H2.
📈 Long termThe long-term outlook remains tied to the successful ramp-up of Unit 4 and the conversion of the 10 Phase III molecules into commercial revenue, which could significantly re-rate the top line.
⚠ Risk flags
- High product concentration (top 5 products contribute 50-55% of revenue)
- Lumpy quarterly performance due to delivery timing shifts
- Customer clinical trial failure risks
Key Highlights
Revenue from operations declined 22.6% YoY to ₹418.2 Cr, down from ₹540.2 Cr in Q1FY26.
CRDMO segment revenue fell 24.7% YoY to ₹340.8 Cr, while Specialty Ingredients fell 11.5% to ₹77.4 Cr.
EBITDA margins improved to 39.6% from 38.1% YoY, despite the lower scale of operations.
Net cash position strengthened significantly to ₹1,719.7 Cr as of June 30, 2026.
The company currently manages 14 commercial molecules and 10 late-stage (Phase III) molecules.
👀 What to Watch
Investors should monitor if the 'timing shifts' mentioned by management translate into a significant revenue catch-up in Q2 and Q3 FY27. Key long-term triggers include the commissioning of the ₹1,000 Cr Unit 4 facility and the progression of the 10 Phase III molecules to commercialization.
Anthem Biosciences Q1 FY27: Revenue Falls 22.6% YoY to ₹418.2 Cr; Net Profit Down 11.7%
Anthem Biosciences reported a weak start to FY27 with consolidated revenue from operations declining 22.6% YoY to ₹418.22 cr, down from ₹540.21 cr in Q1 FY26. The core CRDMO segment saw a significant 24.7% revenue contraction to ₹340.80 cr, reflecting the 'lumpy' nature of contract manufacturing. Consolidated net profit fell 11.7% YoY to ₹119.94 cr, though the impact was partially mitigated by a deferred tax credit of ₹10.07 cr. The company also expanded its equity base by allotting 1.67 million shares under its ESOP scheme.
Confidence: HIGH
What changedThe company reported a significant YoY decline in both revenue and profit for Q1 FY27, primarily driven by weakness in its largest segment, CRDMO.
Why it mattersThe results underscore the high volatility and client concentration risks (top 5 products = 50-55% revenue) inherent in Anthem's business model, which can lead to sharp quarterly fluctuations despite long-term growth targets.
Consolidated Revenue (Q1 FY27): ₹418.22 crConsolidated Net Profit (Q1 FY27): ₹119.94 crRevenue Growth (YoY): -22.6%CRDMO Segment Revenue: ₹340.80 crESOP Shares Allotted: 1,670,909 units
📅 Short termThe stock is likely to face downward pressure in the short term as the market reacts to the double-digit decline in revenue and profit.
📈 Long termLong-term prospects depend on scaling commercial molecules from 10 to 14 and the successful commissioning of the ₹1,000 cr Unit 4 by FY2028 to diversify the revenue base.
⚠ Risk flags
- High client concentration
- Lumpy quarterly performance
- Equity dilution from ESOP allotment
Key Highlights
Consolidated revenue from operations decreased 22.6% YoY to ₹418.22 cr from ₹540.21 cr.
CRDMO segment revenue fell to ₹340.80 cr, a 24.7% decline compared to ₹452.71 cr in the year-ago quarter.
Consolidated Net Profit for the quarter stood at ₹119.94 cr, down 11.7% from ₹135.79 cr YoY.
Allotted 1,670,909 fully paid-up equity shares of ₹2 each under the ESOP Scheme 2024.
Consolidated PBT margin remained resilient at 34.6% despite the sharp drop in top-line scale.
👀 What to Watch
Investors should monitor the utilization levels of the recently expanded 400 kL capacity and the execution timeline for the ₹1,000 cr Unit 4 expansion. Watch for management commentary on whether the CRDMO slowdown is due to temporary inventory adjustments or clinical trial delays from key clients.
ICRA Upgrades Anthem Biosciences Long-Term Rating to [ICRA]AA (Stable)
ICRA has upgraded Anthem Biosciences' long-term credit rating from [ICRA]AA- (Positive) to [ICRA]AA (Stable) for bank facilities totaling Rs 275.50 crore. The short-term rating was reaffirmed at [ICRA]A1+, indicating the highest degree of safety regarding timely servicing of financial obligations. This upgrade reflects the company's improved credit profile as it scales its CDMO operations. The total rated debt of Rs 275.50 crore represents approximately 18.2% of the company's estimated TTM revenue of Rs 1,513.39 crore.
Confidence: HIGH
What changedICRA has upgraded the company's long-term credit rating by one notch and revised the outlook from Positive to Stable, while reaffirming the highest short-term rating.
Why it mattersA credit rating upgrade typically reduces the cost of debt and reflects the rating agency's confidence in the company's cash flow stability and balance sheet strength, which is crucial for a capital-intensive CDMO business.
Total Rated Amount: Rs 275.50 crWorking Capital Limit: Rs 175.00 crTerm Loan: Rs 67.50 crEstimated TTM Revenue: Rs 1,513.39 crRated Debt to TTM Revenue: 18.2%
📅 Short termThe upgrade is likely to be viewed positively by the market in the short term, signaling financial robustness and potentially improving the company's ability to secure cheaper funding.
📈 Long termThe upgrade supports the company's long-term growth strategy, including the commissioning of Unit 4 by FY2028, by providing a stronger financial foundation for large-scale capital expenditure.
⚠ Risk flags
- High product concentration (top 5 products = 50-55% of revenue)
- Lumpy quarterly performance due to customer inventory adjustments
Key Highlights
Long-term rating upgraded to [ICRA]AA (Stable) from [ICRA]AA- (Positive)
Total bank facilities rated by ICRA amount to Rs 275.50 crore
Working capital facilities comprise the largest portion at Rs 175.00 crore
Term loan limit enhanced to Rs 67.50 crore to support ongoing requirements
Short-term rating reaffirmed at [ICRA]A1+ for fund-based and non-fund based limits
👀 What to Watch
Investors should monitor the company's interest coverage ratio and finance costs in upcoming quarterly results to see if the upgrade translates into lower borrowing rates. Additionally, track the execution of the Rs 1,000 Cr Unit 4 expansion, as maintaining this rating will depend on successful capacity ramp-up.
Anthem Biosciences Approves Management Changes, Final Dividend of INR 2.00, and Share Allotment
Anthem Biosciences Limited announced several key outcomes from its Board Meeting held on May 19, 2026. The Board recommended a final dividend of INR 2.00 per equity share of face value INR 2.00 for FY26, with a record date set for June 26, 2026. Additionally, the company approved the allotment of 14,81,250 equity shares under its Employee Stock Option Plan 2024, increasing its paid-up equity share capital to INR 1,12,63,90,202. Management changes were also proposed, including the continuation of Independent Director Mr. Ravikant Uppal and the re-appointment of Whole Time Director Mr. Ravindra Chandrappa, subject to shareholder approval.
Key Highlights
Recommended a final dividend of INR 2.00 per equity share of face value INR 2.00 for FY26.
Approved allotment of 14,81,250 equity shares under the Anthem Employee Stock Option Plan 2024.
Paid-up equity share capital increased from INR 1,12,34,27,702 to INR 1,12,63,90,202.
Proposed the continuation of Mr. Ravikant Uppal as Non-Executive Independent Director upon attaining 75 years of age.
Recommended the re-appointment of Mr. Ravindra Chandrappa as Whole Time Director, retiring by rotation.
👀 What to Watch
Investors should note the dividend record date of June 26, 2026, to ensure eligibility for the INR 2.00 per share payout. The management continuity and ESOP allotment reflect stable governance and employee alignment, which are positive long-term indicators.
Anthem Biosciences Reports FY26 Revenue Growth; Declares ₹2 Dividend with June 26 Record Date
Anthem Biosciences reported a total revenue of ₹20,893.12 million for FY26, up from ₹18,406.49 million in FY25. The Board has recommended a final dividend of ₹2.00 per share, representing a 100% payout on the face value of ₹2.00. The record date for this dividend is fixed as June 26, 2026, with payment expected within 30 days of the AGM on July 22. The company also expanded its equity base by allotting 14.81 lakh shares to employees under its ESOP scheme.
Key Highlights
Recommended final dividend of ₹2.00 per share for the financial year ended March 31, 2026.
Set June 26, 2026, as the record date for dividend entitlement.
FY26 revenue from operations increased to ₹20,893.12 million compared to ₹18,406.49 million YoY.
Allotted 14,81,250 equity shares under ESOP 2024, increasing paid-up capital to ₹1,126.39 million.
Scheduled the 20th Annual General Meeting (AGM) for Wednesday, July 22, 2026.
👀 What to Watch
Shareholders should ensure they hold the stock before the June 26 record date to be eligible for the ₹2 dividend. The steady year-on-year revenue growth reflects positive operational momentum.
Anthem Biosciences Recommends ₹2 Final Dividend; FY26 Revenue Grows to ₹20,893 Million
Anthem Biosciences has recommended a final dividend of ₹2 per equity share for the financial year ended March 31, 2026. The company reported a strong growth in annual revenue from operations, which rose to ₹20,893.12 million from ₹18,406.49 million in the previous year. Additionally, the board approved the allotment of 1.48 million equity shares under its 2024 ESOP plan, leading to a marginal increase in paid-up capital. The record date for the dividend is set for June 26, 2026, with payment expected within 30 days of the AGM.
Key Highlights
Recommended final dividend of ₹2.00 per equity share of face value ₹2.00 each.
Annual revenue from operations increased to ₹20,893.12 million in FY26 vs ₹18,406.49 million in FY25.
Allotted 14,81,250 equity shares under ESOP 2024, increasing paid-up capital to ₹1,126.39 million.
Record date for dividend eligibility fixed as Friday, June 26, 2026.
20th Annual General Meeting (AGM) scheduled for Wednesday, July 22, 2026.
👀 What to Watch
Investors should ensure they hold shares before the June 26 record date to qualify for the ₹2 dividend. The combination of revenue growth and consistent dividend payout signals a stable financial outlook for the company.
Anthem Biosciences FY26 Revenue Up 13.5% to ₹2,089 Cr; Recommends ₹2 Dividend
Anthem Biosciences reported a steady 13.5% year-on-year growth in annual revenue, reaching ₹20,893.12 million for FY26. The Board has recommended a final dividend of ₹2.00 per share, reflecting a 100% payout on the face value of ₹2.00. Additionally, the company expanded its equity base by allotting 14.81 lakh shares to employees under its 2024 ESOP plan. Management stability is reinforced with the re-appointment of key directors and internal auditors for the upcoming fiscal year.
Key Highlights
Annual revenue from operations grew to ₹20,893.12 million in FY26 from ₹18,406.49 million in FY25
Recommended a final dividend of ₹2.00 per equity share with a record date of June 26, 2026
Allotted 14,81,250 equity shares under the Anthem Employee Stock Option Plan 2024
Total paid-up equity share capital increased to ₹1,126.39 million following the ESOP exercise
20th Annual General Meeting (AGM) scheduled for July 22, 2026
👀 What to Watch
The steady revenue growth and consistent dividend payout indicate healthy operational performance; investors should maintain their positions while monitoring margin trends in the detailed financial statements.
Anthem Biosciences FY26 PAT Jumps 31% to ₹5,918 Mn; Q4 Revenue Up 26% YoY
Anthem Biosciences reported a strong performance for FY26, with consolidated revenue growing 15.2% to ₹21,243 Mn, driven primarily by the CRDMO segment. Profitability showed significant improvement as annual PAT rose 31.1% YoY to ₹5,918 Mn, while EBITDA margins expanded to 43.4%. The fourth quarter was particularly robust, with revenue increasing 26.4% YoY and PAT more than doubling to ₹1,898 Mn. The company maintains a strong liquidity position with net cash of ₹13,743 Mn as of March 31, 2026.
Key Highlights
FY26 Revenue from operations grew 15.2% YoY to ₹21,243 Mn, with the CRDMO segment contributing ₹17,727 Mn.
Annual EBITDA increased by 30.8% to ₹9,896 Mn, achieving a healthy margin of 43.4%.
Q4FY26 performance was exceptionally strong with a 129.8% YoY surge in PAT to ₹1,898 Mn and 48.1% EBITDA margins.
The company reported a robust net cash position of ₹13,743 Mn as of March 31, 2026.
Full-year results include an exceptional expense of ₹244 Mn related to the impact of new labour codes.
👀 What to Watch
Investors should take note of the significant margin expansion and the strong growth in the core CRDMO business. The stock remains a positive watch given the robust cash position and the company's ability to scale profitability faster than revenue.
Anthem Biosciences Q4FY26 PAT Surges 130% YoY; FY26 Revenue Hits ₹21,243 Mn
Anthem Biosciences reported its highest-ever quarterly revenue in Q4FY26, reaching ₹6,109 million, a 26.4% YoY growth. The company's annual performance was robust, with FY26 revenue growing 15.2% to ₹21,243 million and PAT increasing by 31.1% to ₹5,918 million. Profitability margins improved significantly, with Q4 EBITDA margins hitting 48.1% compared to 42.1% in the previous year. The company is also investing ₹12,000 million in a new greenfield expansion (Unit IV) to significantly boost capacity.
Key Highlights
Q4FY26 PAT grew by 129.8% YoY to ₹1,898 million, driven by strong operational performance and margin expansion.
FY26 EBITDA increased by 30.8% YoY to ₹9,896 million, with full-year margins improving to 43.4%.
The CRDMO segment remains the primary driver, contributing 83.4% of total FY26 revenue.
Net cash position strengthened significantly to ₹13,743 million as of March 31, 2026.
Phase I of the Unit IV greenfield expansion is underway with a ₹12,000 million investment for 365KL Custom Synthesis capacity.
👀 What to Watch
Investors should view the strong margin expansion and aggressive capacity expansion as positive indicators for long-term growth. Monitor the execution of the Unit IV expansion as it will be a key driver for future revenue scaling.
Anthem Biosciences Q4 PAT Surges 130% YoY to ₹1,898 Mn; FY26 Revenue Up 15%
Anthem Biosciences reported a robust performance for FY26, with consolidated revenue growing 15.2% YoY to ₹21,243 Mn. The Q4FY26 performance was particularly strong, with revenue increasing 26.4% YoY and PAT surging 129.8% to ₹1,898 Mn. EBITDA margins for the quarter expanded significantly to 48.1%, driven by the core CRDMO business which grew 30.7% YoY in Q4. The company maintains a healthy net cash position of ₹13,743 Mn as of March 31, 2026.
Key Highlights
FY26 Consolidated Revenue grew 15.2% YoY to ₹21,243 Mn, led by 17.7% growth in the CRDMO segment.
Q4FY26 PAT jumped 129.8% YoY to ₹1,898 Mn, with quarterly EBITDA margins reaching a high of 48.1%.
Full-year EBITDA stood at ₹9,896 Mn (43.4% margin), representing a 30.8% growth over the previous year.
The company holds a strong net cash position of ₹13,743 Mn and reported a net exceptional expense of ₹244 Mn for labor code provisions.
CRDMO business remains the primary driver, contributing ₹17,727 Mn (83% of total revenue) in FY26.
👀 What to Watch
Investors should view the strong margin expansion and robust CRDMO growth as positive indicators of operational efficiency. Monitor the sustainability of the 48% EBITDA margin in upcoming quarters and the impact of the new labor code on future costs.
Anthem Biosciences Recommends INR 2.00 Dividend, Approves ESOP Share Allotment
Anthem Biosciences Limited announced the outcome of its board meeting held on May 19, 2026. The board has recommended a final dividend of INR 2.00 per equity share of face value of INR 2.00 each for the financial year ended March 31, 2026, subject to shareholder approval. Additionally, the board approved the allotment of 14,81,250 equity shares under the Anthem Employee Stock Option Plan 2024. Consequently, the paid-up equity share capital of the company has increased to INR 1,12,63,90,202 consisting of 56,31,95,101 equity shares.
Key Highlights
Recommended a final dividend of INR 2.00 per equity share of face value INR 2.00 for FY 2025-26.
Approved the allotment of 14,81,250 equity shares under the Anthem Employee Stock Option Plan 2024.
Paid-up equity share capital increased from INR 1,12,34,27,702 to INR 1,12,63,90,202.
The 20th Annual General Meeting (AGM) is scheduled to be held on Wednesday, July 22, 2026.
The record date for the purpose of payment of final dividend is fixed as Friday, June 26, 2026.
👀 What to Watch
Investors should note the upcoming dividend record date of June 26, 2026, to be eligible for the INR 2.00 per share payout, and monitor the full financial results once published in detail.
Anthem Biosciences Appoints S.R. Batliboi as Auditor; Approves ₹127.68 Cr Promoter Upside Payout
Anthem Biosciences has recommended the appointment of S. R. Batliboi & Associates LLP as its statutory auditors for a five-year term starting FY 2026-27, replacing K.P. Rao & Co. The Board also approved an upside sharing arrangement where promoters will receive ₹1,276.83 million from an investor, Viridity Tone LLP, following a successful post-listing divestment. This payout was triggered after the investor sold 20,313,795 shares for ₹13,170 million, achieving returns that exceeded the pre-agreed thresholds of 25% or 2x the original investment. The arrangement now awaits approval from public shareholders via an ordinary resolution.
Key Highlights
Appointment of M/s. S. R. Batliboi & Associates LLP as Statutory Auditors for a 5-year term (2026-2031).
Investor Viridity Tone LLP divested 20,313,795 shares on March 09, 2026, for a net realization of ₹13,170 million.
Promoters Ajay Bhardwaj, Ganesh Sambasivam, and K Ravindra Chandrappa to receive ₹1,276.83 million as an upside share.
The upside sharing is based on a 2021 Shareholders’ Agreement and requires an ordinary resolution from public shareholders.
The payout is triggered by the investor receiving returns in excess of 25% or 2x their original investment.
👀 What to Watch
Investors should note the transition to a Big 4 affiliate auditor as a positive for governance, while monitoring the upcoming AGM resolution regarding the significant promoter payout from the investor's exit.
Anthem Biosciences Appoints S.R. Batliboi as Auditor; Promoters to Receive ₹1,276.83 Mn Upside
Anthem Biosciences has recommended the appointment of S.R. Batliboi & Associates LLP (an EY affiliate) as statutory auditors for a five-year term starting FY 2026-27. The board also approved an 'Upside Sharing Arrangement' where three promoters will receive ₹1,276.83 million from investor Viridity Tone LLP following a stake sale. This payment was triggered after the investor realized ₹13,170 million from selling 20,313,795 shares, exceeding the pre-agreed return threshold of 2x the original investment. The arrangement now seeks approval from public shareholders via an ordinary resolution.
Key Highlights
S.R. Batliboi & Associates LLP appointed as Statutory Auditors for a 5-year term (2026-2031).
Investor Viridity Tone LLP divested 20,313,795 shares on March 09, 2026, for a total of ₹13,170 million.
Promoters Ajay Bhardwaj, Ganesh Sambasivam, and K Ravindra Chandrappa to receive ₹1,276.83 million in upside sharing.
The sharing arrangement was triggered as investor returns exceeded the higher of 25% or 2x the original investment.
Public shareholder approval is required for the payout, with related parties abstaining from the vote.
👀 What to Watch
Investors should view the transition to a Big 4 affiliate auditor as a positive move for transparency and governance. While the promoter payout is based on a pre-existing agreement, shareholders should evaluate the impact of such arrangements on promoter incentives and alignment.
Anthem Biosciences to Convert Additional ₹275 Crore Loan into Subsidiary Equity
Anthem Biosciences has executed a first amendment to its loan agreement with its wholly-owned subsidiary, Neoanthem Lifesciences, allowing for the conversion of an additional ₹275 crore of debt into equity. This follows a previous ₹100 crore conversion in February 2025, under a total sanctioned financial assistance limit of ₹550 crore. The current outstanding loan to the subsidiary stands at ₹439.41 crore. While this move increases the company's investment in the subsidiary and reduces standalone loan exposure, it has no material impact on the consolidated financial statements.
Key Highlights
Option to convert an additional ₹275 crore of the existing loan into equity shares of Neoanthem Lifesciences.
Total financial assistance limit for the subsidiary is capped at ₹550 crore.
Outstanding loan amount to the subsidiary currently stands at ₹439.41 crore.
Initial ₹100 crore loan-to-equity conversion was already completed on February 21, 2025.
The transaction is conducted on an arm's length basis with no impact on consolidated financials.
👀 What to Watch
Investors should view this as an internal balance sheet restructuring that strengthens the subsidiary's equity base. No immediate action is required as it does not change the consolidated valuation of the company.
Anthem Biosciences 9M FY26 PAT Grows to ₹402 Cr; EBITDA Margin Strong at 41.5%
Anthem Biosciences reported a steady 9M FY26 performance with consolidated revenue of ₹1,513 crore, driven primarily by its CRDMO segment which contributed ₹1,260 crore. Despite a slightly lower Q3 revenue of ₹423 crore due to a high base effect, the company maintained robust EBITDA margins of 41.5% for the nine-month period. Management has guided for a strong Q4, projecting full-year revenue growth in the mid-teens (15-16%) and EBITDA/PAT growth exceeding 20%. The company successfully reduced China dependency through backward integration, which structurally improved material margins.
Key Highlights
9M FY26 consolidated revenue reached ₹1,513 crore, with CRDMO contributing 83% of total sales.
EBITDA for 9M FY26 stood at ₹671 crore with a strong margin of 41.5%, representing 23% YoY growth.
Reported a one-time exceptional expense of ₹25.4 crore due to new government labor code notifications.
Management maintains a 20% plus growth guidance for EBITDA and PAT for the full financial year.
Successfully discontinued China supplies for key intermediates through backward integration, boosting structural margins.
👀 What to Watch
Investors should monitor the ramp-up of the four new product approvals and the company's ability to sustain 40%+ EBITDA margins. The structural shift away from Chinese raw materials reduces supply chain risk and enhances long-term profitability.
Anthem Biosciences Q3 PAT Drops 46.5% YoY to ₹928 Mn; 9M EBITDA Margins Strong at 41.5%
Anthem Biosciences reported a weak Q3 FY26 with revenue declining 23.1% YoY to ₹4,232 Mn, which management attributed to a high base effect from the previous year. Despite the quarterly dip, the 9-month (9M FY26) performance remains positive with revenue up 11.2% to ₹15,134 Mn and EBITDA growing 22.6% to ₹6,712 Mn. Quarterly profitability was significantly impacted by a ₹254 Mn exceptional provision related to the new Labour Code, leading to a 46.5% YoY decline in PAT. The company maintains a very strong liquidity position with net cash of ₹12,312 Mn.
Key Highlights
9M FY26 Revenue grew 11.2% YoY to ₹15,134 Mn, led by 13.1% growth in the core CRDMO segment.
EBITDA margins remained resilient at 41.8% for Q3 and 41.5% for the 9-month period.
Q3 FY26 PAT fell 46.5% YoY to ₹928 Mn, weighed down by a ₹254 Mn exceptional item for Labour Code compliance.
The company holds a robust net cash position of ₹12,312 Mn as of December 31, 2025.
Management maintains a positive outlook for Q4 FY26, citing robust underlying demand despite the Q3 volatility.
👀 What to Watch
Investors should monitor whether the sharp Q3 revenue decline is truly a one-off base effect or indicative of a slowdown in CRDMO order execution. While the high EBITDA margins and strong cash reserves are reassuring, the significant quarterly profit miss suggests a cautious approach until Q4 recovery is visible.
Anthem Biosciences Q3 PAT Declines to ₹1,121 Mn; Board Allots 1.03 Lakh ESOP Shares
Anthem Biosciences reported a weak Q3 FY26 with revenue from operations falling 16.4% YoY to ₹4,165.75 million. Net profit for the quarter dropped to ₹1,121.25 million from ₹1,279.93 million in the previous year, significantly impacted by a ₹249.84 million exceptional provision for new Labour Codes. On a positive note, the nine-month (9M FY26) performance remains stronger than the previous year, with total income reaching ₹16,282.61 million. Additionally, the board approved the allotment of 1,03,800 equity shares under the 2024 ESOP plan.
Key Highlights
Revenue from operations decreased to ₹4,165.75 million in Q3 FY26 from ₹4,982.62 million YoY.
Net Profit (PAT) for the quarter stood at ₹1,121.25 million, down from ₹1,984.34 million in the preceding quarter.
Recognized an exceptional expense of ₹249.84 million as a provision for the new Government Labour Codes.
Allotted 1,03,800 equity shares of ₹2 face value at an exercise price of ₹100.75 per share.
9M FY26 Profit after tax remains higher at ₹4,588.98 million compared to ₹3,836.25 million in 9M FY25.
👀 What to Watch
Investors should exercise caution due to the sequential and year-on-year decline in quarterly revenue and margins. It is advisable to wait for management commentary regarding the demand outlook and the one-time nature of the labor code provisions.
