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Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
20 announcements match the current filters (relevance ≥ 5).
CARE Downgrades Themis Medicare Bank Facilities to 'CARE BB+; Stable' from 'BBB-'
CARE Ratings has downgraded Themis Medicare's long-term bank facilities (₹77.39 crore) to 'CARE BB+; Stable' from 'CARE BBB-; Negative', and short-term facilities (₹48.50 crore) to 'CARE A4+' from 'CARE A3'. The downgrade reflects shrinking business scale, severe margin erosion in FY26 (PBILDT margin falling to 0.79% vs 12.43% in FY25), and a PBILDT loss of ₹51.43 crore in Q1FY27 driven by revenue and debtor write-offs. To cushion liquidity, the company raised ₹100 crore by selling part of its stake in associate GTBL to promoters, which also increased promoter share pledge to 43% as of June 30, 2026.
Confidence: HIGH
What changedCredit rating agency CARE downgraded ₹125.89 crore in total bank facilities into sub-investment grade (CARE BB+/A4+) territory.
Why it mattersA credit downgrade to sub-investment grade increases borrowing costs, complicates bank limit renewals, and signals severe operational stress from margin collapse and inventory write-offs.
Long-term rated facilities: ₹77.39 croreShort-term rated facilities: ₹48.50 croreTotal rated facilities vs FY26 debt: ~125.9%Q1FY27 PBILDT loss: ₹51.43 crorePromoter share pledge as of June 30, 2026: 43%
📅 Short termNegative sentiment is likely to weigh on the stock due to the multi-notch rating downgrade and disclosure of high promoter share pledging (43%).
📈 Long termStructural recovery depends on restoring the pricing and volume of key formulation products (Sepgard range), containing API price volatility, and re-establishing operational profitability above a 12% PBILDT margin.
⚠ Risk flags
- High promoter pledge of 43% to fund asset purchases from the company
- Operational losses and debtor/revenue write-offs
- Intense product competition in core formulation and API lines
Key Highlights
Long-term bank facilities of ₹77.39 crore downgraded to CARE BB+; Stable from CARE BBB-; Negative
Short-term bank facilities of ₹48.50 crore downgraded to CARE A4+ from CARE A3
PBILDT loss of ₹51.43 crore incurred in Q1FY27 due to debtor and revenue write-offs
PBILDT margin compressed severely to 0.79% in FY26 from 12.43% in FY25 as revenue fell 15.34% to ₹344.58 crore
Promoter share pledge rose to 43% as of June 30, 2026, following promoter-level borrowing to purchase ₹100 crore GTBL shares
👀 What to Watch
Track the upcoming quarterly earnings to see if operating losses abate, and monitor promoter pledge reduction as well as working capital cycle recovery.
CARE Downgrades Themis Medicare Bank Facilities to 'CARE BB+; Stable' from 'BBB-'
CARE Ratings has downgraded Themis Medicare Limited's long-term bank facilities from 'CARE BBB-; Negative' to 'CARE BB+; Stable'. Short-term bank facilities were also downgraded from 'CARE A3' to 'CARE A4+'. The total facilities rated aggregate to ₹125.89 crore, covering ₹77.39 crore in long-term facilities and ₹48.50 crore in short-term facilities. The rating action was driven by operational and financial performance during FY26 and Q1FY27.
Confidence: HIGH
What changedThe company's credit rating for bank facilities was downgraded into sub-investment grade (BB+ from BBB-) by CARE Ratings.
Why it mattersA downgrade below investment grade generally increases debt refinancing costs, tightens bank lending terms, and reflects sustained operational stress and margin pressure.
Total facilities rated: Rs. 125.89 croreLong-term bank facilities: Rs. 77.39 croreShort-term bank facilities: Rs. 48.50 croreRated facilities vs TTM revenue: ~37.9%
📅 Short termNegative sentiment likely due to the sub-investment grade classification and risk of higher interest spreads on working capital limits.
📈 Long termSignals ongoing fundamental pressure from product competition, plant disruptions, and weak operating profit margins that need structural turnaround.
⚠ Risk flags
- Higher borrowing costs or restricted access to credit lines
- Sub-investment grade rating profile (BB+)
- Past margin volatility and operational headwinds
Key Highlights
Long-term facilities of ₹77.39 crore downgraded to 'CARE BB+; Stable' from 'CARE BBB-; Negative'
Short-term facilities of ₹48.50 crore downgraded to 'CARE A4+' from 'CARE A3'
Total bank facilities under rating review stand at ₹125.89 crore
Term loan components include ₹24.79 crore with Union Bank of India and ₹12.62 crore with Bank of Baroda
👀 What to Watch
Monitor upcoming quarterly financial prints to assess whether operating margins recover and track any increase in borrowing costs or working capital constraints resulting from falling below investment grade.
Themis Medicare Approves ₹4.61 Cr Dividend and Amends AOA on Share Allotment Rules
Shareholders of Themis Medicare Limited have approved a dividend of ₹0.50 (50%) per equity share of face value ₹1 for FY26, amounting to ₹4.61 crore. The dividend payout represents roughly 10.5% of TTM PAT (₹44 crore). Concurrently, members approved an amendment to Article 13(1)(c) of the Articles of Association, removing specific text mandating share price determination by a registered valuer. The amendment gives broader flexibility to issue shares to any person for cash or non-cash consideration.
Confidence: HIGH
What changedMembers approved an annual dividend payout of ₹4.61 crore and altered Article 13(1)(c) of the AOA to remove restrictive wording regarding registered valuer reports.
Why it mattersThe dividend formalizes the FY26 payout to equity holders, while the AOA amendment streamlines future share allotment mechanics for cash or non-cash consideration.
Dividend per share: Re. 0.50Face value: Re. 1/-Total dividend payout: Rs. 4,60,50,060Dividend vs TTM PAT: ~10.5%
📅 Short termNeutral trading expected; dividend confirmation is procedural and reflects typical AGM voting outcomes.
📈 Long termLimited operational impact; primarily standard corporate governance and administrative alignment.
Key Highlights
Approved dividend of ₹0.50 per equity share (50% of ₹1 face value) for FY26
Total dividend payout aggregates to ₹4,60,50,060 (₹4.61 crore)
Amended Article 13(1)(c) of Articles of Association regarding allotment of shares
Removed specific registered valuer clause text from Article 13(1)(c)
👀 What to Watch
Track the upcoming dividend record and payment dates, as well as any future board proposals that might utilize the updated AOA clause for equity or preferential issuances.
Themis Medicare Withdraws Rs 47.28 Cr Preferential Issue of 45.95 Lakh Convertible Warrants
Themis Medicare Limited has decided to withdraw its previously proposed preferential issue of 45,95,795 convertible equity warrants to a promoter group entity. The warrants were originally approved on February 25, 2026, at an issue price of Rs 102.87 each, representing an aggregate fundraise of approximately Rs 47.28 crore (~4.4% of market cap). Management noted that working capital requirements originally targeted by the issue have now been arranged through other means, and applications for in-principle approval submitted to BSE and NSE will be withdrawn.
Confidence: HIGH
What changedThe proposed preferential issuance of 45.95 lakh convertible warrants to promoters, approved in February 2026, has been completely withdrawn.
Why it mattersThe cancellation prevents equity dilution for existing shareholders, though it indicates working capital needs were instead absorbed or refinanced through alternate funding channels.
Warrants withdrawn: 45,95,795Issue price per warrant: Rs. 102.87Total proposed issue value: ~Rs 47.28 CrFundraise vs Market Cap: ~4.4%
📅 Short termNear-term impact is expected to be neutral as dilution is avoided, but the market will monitor whether alternate funding increases debt levels.
📈 Long termLimited structural impact, though company left open the option for fresh equity issues in the future if capital requirements dictate.
⚠ Risk flags
- Potential increase in short-term debt if working capital was arranged through borrowings rather than cash flows
Key Highlights
Withdrawal of 45,95,795 convertible equity warrants proposed to promoter group entity
Issue was priced at Rs 102.87 per warrant, totaling approximately Rs 47.28 crore
Working capital requirements have been met via alternate means according to the company
In-principle listing approval applications filed with BSE and NSE are being withdrawn
👀 What to Watch
Track upcoming quarterly balance sheets and cash flow statements to assess how working capital needs were funded (debt vs internal accruals) without equity dilution.
Themis Medicare Q1 FY27: PAT at ₹24.6 Cr Driven by ₹92.95 Cr One-off Gain Amid Operating Losses
Themis Medicare reported a 10.9% YoY revenue decline to ₹86.96 Cr in Q1 FY27, primarily due to headwinds in its API business. While the company reported a PAT of ₹24.61 Cr compared to a loss of ₹14.22 Cr YoY, this was entirely supported by a one-off profit of ₹92.95 Cr from the sale of shares. Operationally, the company faced a significant EBITDA loss of ₹52.42 Cr with margins deteriorating to -60.3% due to inventory price adjustments and one-off expenses.
Confidence: HIGH
What changedThe company realized a massive non-recurring gain from share sales while its core pharmaceutical operations suffered a significant EBITDA-level loss.
Why it mattersThe operational performance is under severe pressure from API market headwinds and inventory adjustments, making the company dependent on non-core income for bottom-line profitability in the short term.
Q1 FY27 Revenue: ₹86.96 CrOne-off Profit on Sale of Shares: ₹92.95 CrEBITDA Margin: -60.28%One-off Gain vs TTM Revenue: ~27.1%Hospital Segment Share: 56%
📅 Short termThe stock may face pressure as the market digests the underlying operational loss despite the high reported PAT.
📈 Long termThe structural shift toward the Hospital segment (Critical Care/Injectables) is the key long-term narrative, but current execution is hampered by high costs and API volatility.
⚠ Risk flags
- Significant operational (EBITDA) losses
- High dependence on non-recurring income for PAT
- API business contraction
- Inventory price adjustment risks
Key Highlights
One-off profit of ₹92.95 Cr from the sale of shares masked a deep operational loss.
EBITDA loss widened to ₹52.42 Cr in Q1 FY27 from a loss of ₹10.08 Cr in Q1 FY26.
Hospital business segment now contributes 56% of total revenue, up from 50% in FY26.
R&D investment stood at ₹7 Cr, representing approximately 8% of the quarterly revenue.
Net Revenue declined 10.9% YoY to ₹86.96 Cr from ₹97.58 Cr.
👀 What to Watch
Investors should look past the headline PAT and monitor the core EBITDA recovery, as the current operating margins are unsustainable. Watch for the stabilization of the API business and the execution of the 'Hospital Business' strategy which is now the primary revenue driver.
Themis Medicare Appoints New CS with 23 Years Experience; Approves Q1 FY27 Results
Themis Medicare has appointed Mr. Suresh Savaliya as the permanent Company Secretary and Compliance Officer, effective August 13, 2026. Mr. Savaliya brings 23 years of experience from major corporations like Reliance Industries and Essel Group, replacing the interim secretary who transitioned to an internal role. The board also approved the unaudited financial results for the quarter ended June 30, 2026. This management change occurs as the company seeks to stabilize after a volatile FY26, which saw TTM PAT drop to just ₹1 Cr.
Confidence: HIGH
What changedThe company transitioned from an interim to a permanent, highly experienced Company Secretary and formally approved its latest quarterly financial performance.
Why it mattersStrengthening corporate governance with a seasoned KMP is essential for a company with a high P/E of 801.4 and low current profitability, ensuring better compliance and regulatory management.
CS Experience: 23 yearsTTM Revenue: ₹342 CrTTM PAT: ₹1 CrMarket Cap: ₹920 CrP/E Ratio: 801.4
📅 Short termThe stock is likely to react more to the specific numbers in the Q1 FY27 results (revenue and margins) than the administrative management change.
📈 Long termLimited; while the CS appointment improves governance, long-term value depends on clearing export backlogs and restoring JV manufacturing capacity.
⚠ Risk flags
- Extremely high P/E ratio (801.4) makes the stock sensitive to any earnings disappointment
- Low TTM profitability (₹1 Cr PAT)
Key Highlights
Appointment of Mr. Suresh Savaliya as CS and KMP, bringing 23 years of experience in corporate governance and SEBI regulations.
Resignation of Mr. Nagraj Mogaveera as Interim Company Secretary, moving to a Deputy Manager role within the company.
Approval of Unaudited Standalone and Consolidated financial results for the quarter ended June 30, 2026.
Board meeting duration of 2 hours and 15 minutes, concluding at 12:45 PM on August 13, 2026.
👀 What to Watch
Investors should examine the detailed Q1 FY27 financial statements to see if operating margins have recovered from the TTM level of 0.1% and if the Richter Themis JV capacity has been restored.
Themis Medicare Q4 FY26 PAT Turns Positive at ₹8.9 Cr; Annual Revenue Declines 15.6%
Themis Medicare reported a recovery in Q4 FY26 with a PAT of ₹8.9 crore, reversing a loss of ₹9.7 crore in the same quarter last year. However, the full-year FY26 performance was significantly impacted, with revenue falling 15.6% to ₹342.2 crore and PAT dropping 96.2% to ₹1.14 crore. The company is undergoing a strategic shift towards the Hospital business, which now accounts for 50% of total revenue. Management is focusing on cost rationalization and operational efficiencies to stabilize margins, which saw Q4 EBITDA margins improve to 4.9%.
Key Highlights
Q4 FY26 PAT turned positive at ₹8.9 crore compared to a loss of ₹9.66 crore in Q4 FY25.
Full-year FY26 revenue declined to ₹342.2 crore from ₹405.5 crore in the previous fiscal year.
Hospital business segment contribution increased to 50% of total revenue in FY26 from 38% in FY25.
Maintained a healthy balance sheet with a Debt-to-Equity ratio of 0.25 as of March 31, 2026.
R&D investment remained consistent at approximately 3% of revenue, totaling ₹11 crore for FY26.
👀 What to Watch
Investors should watch for the sustainability of the Q4 turnaround into the next fiscal year, particularly the growth in the high-margin hospital segment. The sharp decline in annual profitability suggests a transition phase, making it essential to monitor if cost-optimization measures continue to yield positive results.
Themis Medicare FY26 Revenue Drops 15.6%; Reports Annual Net Loss of ₹14.19 Crore
Themis Medicare reported a weak performance for the full year ended March 31, 2026, with standalone revenue declining 15.6% YoY to ₹342.24 crore. The company swung to a standalone net loss of ₹14.19 crore for FY26, compared to a profit of ₹23.92 crore in FY25, impacted by lower operational income and exceptional write-offs. However, Q4 FY26 showed signs of recovery with a net profit of ₹1.97 crore against a loss in the previous year's corresponding quarter. Despite the annual loss, the board recommended a final dividend of ₹0.50 per share.
Key Highlights
Annual standalone revenue fell to ₹342.24 crore in FY26 from ₹405.51 crore in FY25.
Reported a standalone net loss of ₹14.19 crore for the full year FY26 versus a profit of ₹23.92 crore in FY25.
Recommended a final dividend of 50% (₹0.50 per equity share of face value ₹1).
Q4 FY26 standalone net profit stood at ₹1.97 crore, improving from a loss of ₹7.74 crore in Q4 FY25.
Exceptional items for the year included a ₹1.29 crore write-off of investment in a wholly-owned subsidiary.
👀 What to Watch
Investors should exercise caution as the company has moved from profit to loss on an annual basis with declining revenues. While the Q4 turnaround is positive, long-term recovery depends on stabilizing operational margins and revenue growth.
Themis Medicare Submits Valuation Report for Preferential Allotment of Warrants
Themis Medicare is moving forward with its plan for a preferential allotment of convertible warrants, which was initially approved by the Board on February 13, 2026. In response to queries from BSE and NSE, the company has now submitted a formal Valuation Report from an independent registered valuer. Additionally, an updated Compliance Certificate from a Practicing Company Secretary has been filed to satisfy regulatory requirements. This procedural step is essential for the company to secure the necessary in-principle approvals from stock exchanges for the fundraise.
Key Highlights
Board approved preferential allotment of convertible warrants on February 13, 2026
Independent Valuation Report obtained to address specific queries from BSE and NSE
Updated Compliance Certificate issued by a Practicing Company Secretary to ensure regulatory alignment
Documents hosted on company website for transparency regarding the warrant pricing and compliance
Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
👀 What to Watch
Investors should monitor the final approval from the stock exchanges and the specific pricing terms of the warrants. This fundraise will lead to future equity dilution, so the utilization of funds for growth will be a key factor to watch.
Themis Medicare Shareholders Approve Rs 130 Cr Share Transfer and Warrant Issuance
Shareholders of Themis Medicare have approved four key resolutions via postal ballot, including a significant inter-se transfer of Gujarat Themis Biosyn Limited (GTBL) shares worth up to Rs 130 crore to Dr. Sachin D. Patel. The company also received approval for the issuance of convertible warrants to the promoter group entity, Vividhmargi Investments Private Limited, on a preferential basis. Additionally, material related party transactions with Themis Distributors and GTBL were cleared. All resolutions passed with a requisite majority, with the warrant issuance receiving 99.65% votes in favor.
Key Highlights
Approved inter-se transfer of GTBL equity shares held by the company to Dr. Sachin D. Patel for up to Rs 130 crore
Authorized issuance of convertible warrants to promoter group company Vividhmargi Investments Private Limited on a preferential basis
Passed material Related Party Transactions with Gujarat Themis Biosyn Limited (GTBL) and Themis Distributors Private Limited
The resolution for warrant issuance received 99.65% votes in favor from participating shareholders
Total of 4 resolutions were passed via remote e-voting with the required majority
👀 What to Watch
Investors should monitor the specific terms and pricing of the convertible warrants as they will lead to future equity dilution. The Rs 130 crore share transfer is a significant transaction that clarifies the promoter's holding structure and provides liquidity.
Themis Medicare Receives ₹13.32 Crore Income Tax Demand Notice
Themis Medicare Limited has received a notice under Section 226(3) of the Income Tax Act, 1961, for outstanding tax demands totaling ₹13.32 crore. The demand pertains to three assessment years: 2017-18, 2018-19, and 2020-21. The company has stated its intention to file an appeal before higher appellate forums to contest these demands. While the company claims no adverse impact on operations, the demand represents a significant potential cash outflow.
Key Highlights
Total aggregate tax demand of ₹13.32 crore received from Income Tax Department, Vapi.
Major portion of the demand (₹8.71 crore) relates to Assessment Year 2017-18.
Additional demands of ₹4.17 crore for AY 2018-19 and ₹0.44 crore for AY 2020-21.
Notice issued under Section 226(3) which relates to recovery proceedings for outstanding dues.
Company is in the process of preferring an appeal to defend its position.
👀 What to Watch
Investors should monitor the progress of the legal appeal as a potential ₹13.32 crore liability could impact the company's cash reserves. Verify if the company has already made provisions for these tax disputes in its latest financial statements.
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
👀 What to Watch
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
👀 What to Watch
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
👀 What to Watch
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
👀 What to Watch
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.
👀 What to Watch
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.
👀 What to Watch
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.
👀 What to Watch
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.
👀 What to Watch
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.
👀 What to Watch
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.
