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Themis Medicare Revises Preferential Issue Price Upward to Rs 102.87 per Warrant
Themis Medicare has issued a corrigendum to its postal ballot notice, increasing the issue price of 45,95,795 convertible warrants from Rs 100 to Rs 102.87 per warrant. This adjustment follows observations from the National Stock Exchange (NSE) regarding the pricing formula under SEBI (ICDR) Regulations. The total fundraise amount has consequently increased from approximately Rs 45.96 crore to Rs 47.28 crore. The warrants are being issued on a preferential basis to the promoter group entity, Vividhmargi Investments Private Limited.
Key Highlights
Issue price revised from Rs 100 to Rs 102.87 per warrant based on NSE regulatory observations
Total aggregate fundraise increased by approximately Rs 1.32 crore to a total of Rs 47.28 crore
Issuance of 45,95,795 warrants to promoter group company Vividhmargi Investments Private Limited
Upfront payment of 25% revised to Rs 11.82 crore, with the remaining 75% due upon warrant exercise
Shareholders who already voted have until March 27, 2026, to modify their votes in light of the changes
💼 Action for Investors
Investors should view the upward revision of the issue price as a positive development as it reduces dilution impact slightly compared to the previous price. Monitor the final approval and subsequent utilization of these funds for the company's growth initiatives.
Themis Medicare Revises Preferential Issue Price to Rs 102.87 per Warrant
Themis Medicare's Preferential Issue Committee has revised the pricing for its upcoming warrant issuance to Vividhmargi Investments Private Limited. The issue price has been increased from Rs 100 to Rs 102.87 per convertible equity warrant to comply with SEBI (ICDR) pricing regulations. The company intends to issue up to 45,95,795 warrants, which represents approximately 4.99% of the total shareholding. This capital infusion is subject to shareholder and stock exchange approvals.
Key Highlights
Revised issue price of convertible equity warrants to Rs 102.87 from the previous Rs 100 per warrant
Proposed issuance of up to 45,95,795 warrants to a single investor, Vividhmargi Investments Private Limited
The total issuance represents up to 4.99% of the company's total shareholding post-conversion
Pricing adjustment follows a modified certificate from practicing company secretaries to meet SEBI Regulation 164 requirements
Approved a corrigendum to the Postal Ballot Notice dated February 25, 2026, to reflect these changes
💼 Action for Investors
Investors should note the minor upward revision in the entry price for the new investor, which is slightly less dilutive than the previous terms. Monitor the upcoming shareholder vote and the company's stated purpose for utilizing the raised capital.
Themis Medicare to Issue 45.95 Lakh Convertible Warrants at Rs 100 Per Unit
Themis Medicare's Preferential Issue Committee has approved the issuance of 45,95,795 convertible equity warrants to Vividhmargi Investments Private Limited. The issue price is fixed at Rs 100 per warrant, which is a slight premium over the SEBI-mandated minimum price of Rs 99.76. This capital infusion will result in a total fundraise of approximately Rs 45.96 crore upon full conversion. The company has initiated a postal ballot process for shareholder approval, with voting ending on March 27, 2026.
Key Highlights
Approved allotment of 45,95,795 convertible equity warrants to M/s. Vividhmargi Investments Private Limited
Issue price set at Rs 100.00 per warrant, exceeding the SEBI minimum price of Rs 99.76
Total potential fundraise estimated at approximately Rs 45.96 crore
Postal ballot for shareholder approval scheduled from February 26 to March 27, 2026
Relevant date for the preferential issue fixed as February 25, 2026
💼 Action for Investors
Investors should monitor the final shareholder approval and the specific end-use of the funds for growth initiatives. While the fundraise is positive for capital structure, be mindful of the eventual equity dilution upon warrant conversion.
Themis Medicare Seeks Approval for ₹300 Crore Related Party Transactions for FY 2026-27
Themis Medicare Limited has issued a postal ballot notice to obtain shareholder approval for material related party transactions (RPTs) scheduled for the 2026-27 financial year. The company is proposing a transaction limit of ₹250 crore with Themis Distributors Private Limited (or VMIPL post-merger) and ₹50 crore with Gujarat Themis Biosyn Limited. These transactions are stated to be in the ordinary course of business and conducted on an arm's length basis. The e-voting period for shareholders is set from February 26, 2026, to March 27, 2026.
Key Highlights
Proposed related party transactions with Themis Distributors/VMIPL capped at ₹250 crore for FY27
Proposed transactions with Gujarat Themis Biosyn Limited (GTBL) capped at ₹50 crore for FY27
Transactions involve the sale, purchase, or supply of goods and services in the ordinary course of business
Remote e-voting period runs from February 26, 2026, to March 27, 2026
Final results of the postal ballot will be declared on or before March 31, 2026
💼 Action for Investors
Investors should review the explanatory statement to ensure the terms of these large-scale related party transactions are fair and do not lead to value leakage. Participation in the e-voting process is recommended to exercise governance rights.
Themis Medicare Q3 PAT Rises to ₹4.58 Cr; Board Approves 4.99% Warrant Issue to Promoters
Themis Medicare reported a standalone net profit of ₹4.58 crore for Q3 FY26, showing recovery from a loss in the previous quarter, though 9-month performance remains at a net loss of ₹16.15 crore. The board has approved a preferential issue of up to 45,95,795 convertible warrants to the promoter group, representing a 4.99% stake. Additionally, the company approved an internal transfer of a 3% stake in Gujarat Themis Biosyn Limited within the promoter group. Management changes were also announced, with Nagraj Mogaveera appointed as the Interim Company Secretary and Compliance Officer.
Key Highlights
Standalone Revenue for Q3 FY26 stood at ₹90.13 crore, a slight decline from ₹93.81 crore in the previous year's quarter.
Net Profit for the quarter improved to ₹4.58 crore, up from ₹3.08 crore YoY, despite a cumulative 9-month loss of ₹16.15 crore.
Board approved a preferential allotment of convertible equity warrants to promoters for up to 4.99% of total shareholding.
Approved inter-se transfer of up to 3% equity in Gujarat Themis Biosyn Limited (GTBL) within the promoter group at market price.
Nagraj Mogaveera appointed as Interim Company Secretary & Compliance Officer effective February 14, 2026.
💼 Action for Investors
Investors should monitor the pricing of the upcoming warrant issue as it indicates promoter confidence, while keeping a close eye on whether the Q3 profitability can be sustained to reverse the year-to-date losses.
Themis Medicare Reports Q3 Profit of ₹4.58 Cr and Plans 4.99% Warrant Issue to Promoters
Themis Medicare reported a standalone net profit of ₹4.58 crore for Q3 FY26, showing recovery from previous losses despite a slight revenue dip to ₹90.13 crore. The board has approved a significant fundraise through the issuance of 45.96 lakh convertible warrants to the promoter group, representing a 4.99% stake. Additionally, the company announced a management change with the resignation of its Company Secretary and an internal transfer of a 3% stake in its subsidiary, Gujarat Themis Biosyn Limited. While the quarterly performance is positive, the company remains in a net loss position of ₹16.15 crore for the nine-month period ended December 2025.
Key Highlights
Standalone Revenue for Q3 FY26 stood at ₹90.13 crore compared to ₹93.81 crore in Q3 FY25.
Net Profit for the quarter improved to ₹4.58 crore from ₹3.08 crore in the corresponding previous year quarter.
Board approved preferential allotment of 45,95,795 convertible warrants (4.99% stake) to Promoters.
Mr. Nagraj Mogaveera appointed as Interim Company Secretary effective February 14, 2026, following the resignation of Mr. Pradeep Chandan.
Approved inter-se transfer of up to 3% equity stake in Gujarat Themis Biosyn Limited (GTBL) within the promoter group.
💼 Action for Investors
Investors should view the promoter warrant subscription as a positive sign of internal confidence, but must remain cautious due to the year-to-date loss and monitor the pricing of the upcoming warrant issue.
Themis Medicare Q3 FY26 PAT Surges to ₹10.1 Cr; API Business Doubles YoY
Themis Medicare reported a significant turnaround in Q3 FY26 with PAT reaching ₹10.09 crore compared to ₹0.52 crore in the previous year, despite a 3.9% dip in revenue to ₹90.13 crore. The API business showed strong momentum, more than doubling year-on-year, while the formulations segment faced regulatory headwinds in a major business line. EBITDA margins improved by 178 bps to 10.87% due to cost rationalization and a shift in the sales mix toward higher-margin products. However, the 9-month performance remains weak with a net loss of ₹7.74 crore, reflecting a challenging first half of the fiscal year.
Key Highlights
Q3 FY26 PAT grew by 1843% YoY to ₹10.09 Cr, significantly aided by a ₹5.52 Cr share of profit from associates/JV.
API business revenue more than doubled YoY in Q3, helping offset a decline in the formulations segment.
EBITDA margin expanded by 178 bps YoY to 10.87% through cost optimization and improved field force productivity.
Hospital business remains the primary growth driver, contributing 49% to the revenue mix in 9M FY26.
R&D investment remains steady at approximately 3% of revenue, focusing on complex injectables and differentiated products.
💼 Action for Investors
Investors should monitor the expected positive regulatory development regarding the disrupted business line and the sustainability of the API segment's growth. While the Q3 turnaround is encouraging, the cumulative 9-month loss warrants a cautious approach until consistent operational profitability is maintained.
Themis Medicare Q3 PAT Rises 48% YoY to ₹4.58 Cr; Board Approves Warrant Issue to Promoters
Themis Medicare reported a standalone Net Profit of ₹4.58 crore for Q3 FY26, marking a 48.6% increase from ₹3.08 crore in the previous year's corresponding quarter. While revenue saw a slight YoY decline of 3.9% to ₹90.13 crore, the company achieved a significant sequential turnaround from a loss of ₹5.35 crore in Q2 FY26. The Board also approved a preferential issue of up to 45,95,795 convertible warrants to the Promoter group, representing approximately 4.99% of the shareholding. Additionally, an inter-se transfer of up to 3% stake in Gujarat Themis Biosyn Limited (GTBL) was approved within the promoter group.
Key Highlights
Standalone Net Profit grew 48.6% YoY to ₹4.58 crore in Q3 FY26.
Revenue from operations stood at ₹90.13 crore, a 15.6% improvement over the preceding quarter.
Board approved issuance of 45,95,795 convertible warrants to Promoters, totaling up to 4.99% stake.
Inter-se transfer of up to 3% equity in Gujarat Themis Biosyn Limited (GTBL) within the promoter group.
Nagraj Mogaveera appointed as Interim Company Secretary following the resignation of Pradeep M. Chandan.
💼 Action for Investors
The sequential turnaround in profitability and the promoter's decision to infuse capital via warrants are strong signals of internal confidence. Investors should watch for the final pricing of the warrants and the company's plan for the capital raised.
Themis Medicare Q3 Profit at ₹4.58 Cr; Board Approves 4.99% Warrant Issue to Promoters
Themis Medicare reported a standalone net profit of ₹4.58 crore for Q3 FY26, marking a recovery from a loss of ₹5.36 crore in the preceding quarter. Despite the quarterly turnaround, the company remains in a net loss position of ₹16.15 crore for the nine-month period ended December 2025. The Board has approved a preferential issue of up to 45.96 lakh convertible warrants (4.99% stake) to the promoter group, signaling potential capital infusion. Additionally, the company announced an internal transfer of a 3% stake in Gujarat Themis Biosyn Limited within the promoter group.
Key Highlights
Standalone Q3 FY26 net profit reached ₹4.58 crore, up from a loss of ₹5.36 crore in Q2 FY26.
Revenue from operations grew 15.5% sequentially to ₹90.13 crore from ₹77.99 crore.
Board approved issuing up to 45,95,795 convertible equity warrants to promoters, representing 4.99% of shareholding.
Nine-month cumulative performance shows a net loss of ₹16.15 crore compared to a profit in the previous year.
Mr. Nagraj Mogaveera appointed as Interim Company Secretary following the resignation of Mr. Pradeep M. Chandan.
💼 Action for Investors
Investors should monitor the pricing of the proposed warrants and the company's ability to sustain the quarterly profit turnaround to offset year-to-date losses. The promoter's intent to increase stake via warrants is a positive signal, but operational stability remains the primary concern.