🔍

Denis Chem Lab Ltd (537536)

📊 BSE: 537536 🏢 Pharmaceuticals 📢 Latest filing: 18 Aug 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Denis Chem's revenue was ₹44.0 Cr (+1.7% year on year, -5.9% on the previous quarter), and net profit ₹2.0 Cr (-17.5% year on year); the operating margin was 8.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹44.0	+1.7%	-5.9%
Operating profit	₹3.8	-43.5%	+50.8%
Net profit	₹2.0	-17.5%	+411.3%
EPS (₹)	1.47	-17.9%	+406.9%
Operating margin	8.7%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Denis Chem Lab Convenes 45th AGM for Sep 25, 2026; Proposes ₹2.50/Share Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 04:58 PM

Denis Chem Lab has issued the notice for its 45th Annual General Meeting (AGM) scheduled for September 25, 2026, along with its FY2025-26 Annual Report. The company has proposed a final dividend of ₹2.50 per equity share for FY26. Key agenda items include the re-appointment of Dr. Himanshu Patel as Managing Director for a 3-year term (from August 1, 2026, to July 31, 2029) and the appointment of Secretarial Auditors for a 5-year term. The Annual Report highlights FY26 ROCE at 13.84% and a low debt-to-equity ratio of 0.01.

45th Annual General Meeting scheduled for September 25, 2026, at 12:00 Noon IST via Video Conferencing.
Proposed final dividend of ₹2.50 per equity share for the financial year ended March 31, 2026.
Special resolution proposed for re-appointment of Dr. Himanshu Patel as MD for a 3-year period (Aug 1, 2026, to Jul 31, 2029).
Approval sought for appointing M/s Kashyap R. Mehta & Partners as Secretarial Auditors for a 5-year tenure (FY27 to FY31).
FY26 financial ratios show Debt-to-Equity at 0.01, Current Ratio at 2.70, and ROCE at 13.84%.

💡 Monitor voting results post-AGM on September 25, 2026, and note the upcoming record date for the ₹2.50/share dividend payout.

Denis Chem Lab Convenes 45th AGM on Sep 25, 2026; Proposes Rs 2.50/Share Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 04:55 PM

Denis Chem Lab Limited has published the Notice of its 45th Annual General Meeting (AGM) along with the Annual Report for FY 2025-26. The AGM is scheduled for September 25, 2026, via video conferencing. Key agenda items include shareholder approval for a final dividend of Rs 2.50 per equity share for FY26 and the re-appointment of Dr. Himanshu Patel as Managing Director for a 3-year tenure starting August 1, 2026.

45th Annual General Meeting scheduled to be held on September 25, 2026, at 12:00 Noon IST via VC/OAVM.
Proposed final dividend of Rs 2.50 per equity share for FY 2025-26 subject to shareholder approval.
Proposed re-appointment of Dr. Himanshu Patel as Managing Director for a 3-year term from August 1, 2026, to July 31, 2029.
Appointment of M/s Kashyap R. Mehta & Partners as Secretarial Auditors for a 5-year term (FY 2026-27 to 2030-31).

💡 Track shareholder voting results following the AGM on September 25, 2026, and monitor the dividend record/payment dates once finalized.

Denis Chem Lab Issues FY26 Annual Report; 45th AGM on Sep 25, 2026, Rs 2.50 Dividend Proposed

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 04:50 PM

Denis Chem Lab has released its Annual Report for FY 2025-26 along with the Notice for its 45th Annual General Meeting scheduled for September 25, 2026. Key business items include the approval of a final dividend of Rs 2.50 per equity share and the re-appointment of Dr. Himanshu Patel as Managing Director for a 3-year term from August 1, 2026, to July 31, 2029. Analytical disclosures in the report highlight FY26 Return on Equity at 9.18% and ROCE at 13.84%, with a healthy Current Ratio of 2.70.

45th AGM scheduled for September 25, 2026, via Video Conferencing
Final dividend of Rs 2.50 per equity share recommended for FY 2025-26
Re-appointment of Dr. Himanshu Patel as Managing Director for 3 years up to July 31, 2029
Reported FY26 Return on Equity at 9.18% and ROCE at 13.84%
Reported balance sheet health with a Current Ratio of 2.70 and Debt-to-Equity of 0.01

💡 Track voting outcomes at the AGM on September 25, 2026, and monitor upcoming quarterly results for margin recovery against input cost pressures.

Rs 2.05 Cr PAT: Denis Chem Lab Reports 17% YoY Profit Decline in Q1 FY27

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 13 Aug 2026, 01:59 PM

Denis Chem Lab reported a marginal 1.6% YoY revenue growth to Rs 43.99 Cr for the quarter ended June 30, 2026. Net profit declined by 17.3% YoY to Rs 2.05 Cr, down from Rs 2.48 Cr in the year-ago period, primarily due to higher raw material consumption costs. However, on a sequential basis, PAT recovered significantly from the low base of Rs 0.40 Cr in Q4 FY26. The company continues to operate in a single segment of transfusion solutions with limited pricing power due to regulatory controls.

Revenue from operations stood at Rs 43.99 Cr, a slight increase from Rs 43.28 Cr in Q1 FY26.
Net Profit for the quarter was Rs 2.05 Cr, representing a 17.3% decline compared to Rs 2.48 Cr YoY.
Cost of materials consumed rose to Rs 23.83 Cr, accounting for 54.2% of total revenue.
Earnings Per Share (EPS) decreased to Rs 1.47 from Rs 1.78 in the corresponding quarter of the previous year.
Finance costs reduced significantly to Rs 10.79 lakh from Rs 18.55 lakh YoY, reflecting lower debt servicing needs.

💡 Investors should monitor the company's progress on its planned capacity expansion, as current utilization is near 95%. Key focus areas include the management's ability to maintain margins despite high logistics costs and DPCO price restrictions on essential IVF products.

Rs 2.05 Cr PAT: Denis Chem Lab Reports 17% YoY Profit Decline in Q1 FY27

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 13 Aug 2026, 01:46 PM

Denis Chem Lab reported a flat performance for Q1 FY27 with revenue from operations at Rs 43.99 Cr, a marginal 1.6% increase YoY. Net profit declined by 17.3% YoY to Rs 2.05 Cr from Rs 2.48 Cr, although it showed a significant recovery from the exceptionally low Rs 0.40 Cr reported in the preceding March 2026 quarter. The company continues to face margin pressure with material costs rising to Rs 23.83 Cr. Finance costs saw a healthy reduction of 41.8% YoY to Rs 0.11 Cr, reflecting a strong balance sheet with minimal debt.

Revenue from operations remained stagnant at Rs 43.99 Cr vs Rs 43.28 Cr in the year-ago period.
Net Profit stood at Rs 2.05 Cr, down 17.3% YoY but up significantly from Rs 0.40 Cr in Q4 FY26.
Finance costs reduced to Rs 0.11 Cr from Rs 0.19 Cr in June 2025, a 41.8% decrease.
Cost of materials consumed increased to Rs 23.83 Cr, representing 54% of revenue.
Earnings Per Share (EPS) for the quarter was Rs 1.47, down from Rs 1.78 YoY.

💡 Watch for updates on the company's planned capacity expansion, as current utilization is near 95%, and monitor the impact of DPCO price controls on margins.

Denis Chem Lab schedules Board Meeting on Aug 13, 2026, for Q1 FY27 results

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 06 Aug 2026, 12:14 PM

Denis Chem Lab Ltd has announced a board meeting on August 13, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. The company, which has a market cap of Rs 95 Cr, reported a TTM revenue of Rs 182 Cr and a PAT of Rs 8 Cr. Investors will be closely watching for a recovery in profitability, as the March 2026 quarter saw net profit drop to Rs 0.4 Cr from Rs 3.32 Cr in the preceding quarter. The trading window for designated persons remains closed until 48 hours after the results are declared.

Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results.
Trading window has been closed since June 23, 2026, per SEBI regulations.
Company reported TTM revenue of Rs 182 Cr against a market cap of Rs 95 Cr.
Previous quarter (Mar 2026) net profit was Rs 0.4 Cr, a significant drop from Rs 3.32 Cr in Dec 2025.
Capacity utilization remains high at approximately 95% as per recent company context.

💡 Watch for the earnings release on August 13, 2026, specifically focusing on operating margins which fluctuated between 5.4% and 13.2% in recent quarters.

Denis Chem Lab Re-appoints MD for 3 Years; Sets Sept 18 as Dividend Record Date

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 Jul 2026, 01:33 PM

Denis Chem Lab has re-appointed Dr. Himanshu C. Patel as Managing Director for a three-year term effective August 1, 2026, ensuring leadership continuity. The Board has fixed September 18, 2026, as the record date for the final dividend for FY 2025-26, with the 45th AGM scheduled for September 25, 2026. Additionally, a new secretarial auditor has been appointed for a five-year tenure starting FY 2026-27. The company maintains a steady financial profile with TTM revenue of Rs 182 Cr and a low debt-to-equity ratio of 0.04.

Re-appointment of Dr. Himanshu C. Patel as MD for a 3-year term starting August 1, 2026
Record date for final dividend fixed as September 18, 2026
45th Annual General Meeting (AGM) scheduled for September 25, 2026
Secretarial Auditor appointed for a 5-year term (FY 2026-27 to 2030-31)
Dr. Patel has over 40 years of experience in the pharmaceutical field

💡 Investors should track the AGM for the formal approval of the dividend and any commentary on the 95% capacity utilization and expansion plans.

Denis Chem Lab Sets Sept 18 as Record Date for Dividend; Re-appoints MD for 3 Years

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 29 Jul 2026, 01:26 PM

Denis Chem Lab has fixed September 18, 2026, as the record date for its final dividend for FY 2025-26. The Board has also re-appointed Dr. Himanshu C. Patel as Managing Director for a three-year term effective August 1, 2026, ensuring leadership continuity. These proposals, along with the appointment of a new secretarial auditor for a five-year term, are subject to shareholder approval at the 45th AGM on September 25, 2026. The company currently operates at a high capacity utilization of 95%, with TTM revenue of Rs 182 Cr.

Record date for final dividend for FY 2025-26 fixed as September 18, 2026
45th Annual General Meeting (AGM) scheduled for September 25, 2026
Managing Director Dr. Himanshu C. Patel re-appointed for a 3-year term starting August 1, 2026
Secretarial Auditor appointed for a 5-year term covering FY 2026-27 to 2030-31
Remote e-voting period set from September 22 to September 24, 2026

💡 Investors should monitor the AGM outcome for the specific dividend quantum and management commentary on the execution timeline for planned capacity expansions, given the current 95% utilization.

3-Year Re-appointment of MD and Record Date for Dividend Fixed for Sept 18

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 29 Jul 2026, 01:18 PM

Denis Chem Lab has re-appointed Dr. Himanshu C. Patel as Managing Director for a three-year term effective August 1, 2026, ensuring leadership continuity. The company has fixed September 18, 2026, as the record date for the final dividend of FY 2025-26, with the 45th AGM scheduled for September 25, 2026. Additionally, a new Secretarial Auditor has been appointed for a five-year block (FY27-FY31). These administrative steps follow a year where the company achieved TTM revenues of Rs 182 Cr, slightly exceeding its previous guidance of Rs 170-175 Cr.

Re-appointment of Dr. Himanshu C. Patel as Managing Director for a 3-year term starting August 1, 2026.
Record date for final dividend entitlement fixed as September 18, 2026.
45th Annual General Meeting (AGM) to be held on September 25, 2026.
Appointment of M/s. Kashyap R. Mehta & Partners as Secretarial Auditors for a 5-year term (FY 2026-27 to 2030-31).
Dr. Himanshu C. Patel brings over 40 years of experience in the medical and pharmaceutical fields.

💡 Monitor the upcoming AGM on September 25 for the formal approval of the dividend and updates on capacity expansion plans, as the company is currently operating at 95% utilization.

Denis Chem Lab Re-appoints MD for 3 Years and Sets Sept 18 as Dividend Record Date

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 Jul 2026, 01:14 PM

Denis Chem Lab has scheduled its 45th Annual General Meeting (AGM) for September 25, 2026, and fixed September 18, 2026, as the record date for the FY 2025-26 final dividend. The Board has re-appointed Dr. Himanshu C. Patel as Managing Director for a three-year term starting August 1, 2026, ensuring leadership continuity. Additionally, M/s. Kashyap R. Mehta & Partners has been appointed as Secretarial Auditor for a five-year term. These administrative steps follow a year where the company achieved ₹182 Cr in revenue with a high capacity utilization of 95%.

Dr. Himanshu C. Patel re-appointed as Managing Director for a 3-year term effective August 1, 2026.
Record date for determining dividend eligibility fixed as September 18, 2026.
45th Annual General Meeting scheduled for September 25, 2026, via video conferencing.
New Secretarial Auditor appointed for a 5-year block from FY 2026-27 to 2030-31.
Company currently operates at approximately 95% capacity utilization in its IVF segment.

💡 Investors should track the AGM proceedings on September 25 for the formal declaration of the dividend amount and confirmation of management appointments.

Denis Chem Lab Sets Sept 18 Record Date for Dividend; Re-appoints MD for 3 Years

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 29 Jul 2026, 01:10 PM

Denis Chem Lab has scheduled its 45th Annual General Meeting (AGM) for September 25, 2026. The company has fixed September 18, 2026, as the record date for the final dividend for FY 2025-26, with payments starting from the AGM date. Additionally, the board has re-appointed Dr. Himanshu C. Patel as Managing Director for a three-year term effective August 1, 2026, ensuring leadership continuity. A new secretarial auditor has also been appointed for a five-year block starting FY 2026-27.

45th Annual General Meeting to be held on September 25, 2026, via video conferencing.
Record date for final dividend entitlement fixed as September 18, 2026.
Dr. Himanshu C. Patel re-appointed as Managing Director for a 3-year term starting August 1, 2026.
M/s. Kashyap R. Mehta & Partners appointed as Secretarial Auditors for a 5-year term (FY27-FY31).
Remote e-voting period scheduled from September 22 to September 24, 2026.

💡 Investors should check the upcoming AGM notice for the specific dividend amount and monitor management commentary regarding the 95% capacity utilization and planned expansions.

Denis Chem Lab Sets Sept 18 as Record Date for Dividend; Re-appoints MD for 3 Years

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 29 Jul 2026, 01:05 PM

Denis Chem Lab has scheduled its 45th Annual General Meeting (AGM) for September 25, 2026, and fixed September 18, 2026, as the record date for the final dividend of FY 2025-26. The board has approved the re-appointment of Dr. Himanshu C. Patel as Managing Director for a three-year term effective August 1, 2026, ensuring leadership continuity. Additionally, M/s. Kashyap R. Mehta & Partners were appointed as Secretarial Auditors for a five-year period starting FY 2026-27. These administrative updates follow a year where the company achieved TTM revenue of Rs 182 Cr and PAT of Rs 8 Cr.

Record date for final dividend entitlement fixed as September 18, 2026
45th Annual General Meeting (AGM) to be held on September 25, 2026
Dr. Himanshu C. Patel re-appointed as Managing Director for a 3-year term starting August 1, 2026
Secretarial Auditor appointed for a 5-year tenure from FY 2026-27 to 2030-31
Remote e-voting period scheduled from September 22 to September 24, 2026

💡 Investors should note the record date of September 18 for dividend eligibility and watch for the AGM results for updates on the company's 95% capacity utilization and expansion plans.

View All 537536 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single business segment (Intravenous Fluids). Total revenue grew by 2.98% YoY, reaching INR 173 Cr in FY 2024-25 compared to INR 168 Cr in FY 2023-24.

Geographic Revenue Split

Not specifically disclosed, though the company notes the domestic pharmaceutical market grew at 2% in FY 2024-25 with increasing penetration in rural markets.

Profitability Margins

Operating Profit Margin improved to 29.94% in FY 2024-25 from 28.20% in FY 2023-24 (a 6.17% increase). However, Net Profit Margin declined by 26.85% YoY, dropping from 6.48% to 4.74%.

EBITDA Margin

Operating Profit Margin stands at 29.94% for FY 2024-25. Core profitability remains healthy due to high capacity utilization (95%) and established market presence.

Capital Expenditure

No large debt-funded capital expenditure is planned for the medium term. The company maintains a healthy financial risk profile following a historical equity infusion of INR 34 Cr during fiscals 2017 and 2018.

Credit Rating & Borrowing

Rated CRISIL BBB/Stable (Long Term) and CRISIL A3+ (Short Term), reaffirmed in October 2025. The company has negligible debt with a gearing ratio of 0.01 time and an interest coverage ratio of 23 times in FY 2025.

⚙️ Operational Drivers

Raw Materials

Specific chemical names are not disclosed, but the company focuses on Intravenous Fluids (IVF) manufacturing, where packaging (bottles) and pharmaceutical-grade chemicals are primary inputs.

Capacity Expansion

Current capacity utilization is approximately 95%. Revenue is expected to increase over the medium term through planned expansion in production capacity to meet steady demand.

Raw Material Costs

Not explicitly disclosed as a percentage of revenue, but the company notes that enhanced regulations for drug manufacturing and pollution control may add to the compliance and cost burden.

Manufacturing Efficiency

Maintains high efficiency with 95% capacity utilization and is an early adopter of technologies like Euroheads for IVF manufacturing.

Logistics & Distribution

Logistics costs are noted as a competitive constraint, though specific INR values are not provided.

📈 Strategic Growth

Expected Growth Rate

20-25%

Growth Strategy

Growth is targeted through capacity expansion, increasing the sales team's effectiveness via training, and leveraging its license to manufacture over 110 products. The company aims for revenue of INR 170-175 Cr in FY 2026.

Products & Services

Intravenous fluids (IVFs) largely supplied in 500 ml and 100 ml bottles.

Brand Portfolio

Denis Chem Lab.

New Products/Services

The company is licensed for over 110 products; new drug launches in the Indian market (which grew 2% in FY25) are expected to contribute to future growth.

Market Expansion

Focusing on deeper penetration in rural markets and institutional sectors including government hospitals, nursing homes, and the defense sector.

Market Share & Ranking

Not disclosed, but the company is noted as an established player in the IVF segment with a strong market position.

🌍 External Factors

Industry Trends

India is now a top 5 pharmaceutical emerging market. Trends include new drug filings, Phase II clinical trials, and growth in chronic therapies and generic medicines.

Competitive Landscape

Faces intense competition from both large pharmaceutical companies and regional players who benefit from lower logistics costs.

Competitive Moat

Moat is built on the extensive experience of promoters in the IVF segment and early adoption of specialized technology (Euroheads), which provides a technical advantage over smaller competitors.

Macro Economic Sensitivity

Sensitive to healthcare budget allocations and hospital penetration rates. The domestic pharma market's 2% growth in FY25 reflects broader economic trends in healthcare access.

Consumer Behavior

Demand is driven by the number of surgeries and hospital admissions, which are currently seeing steady growth.

⚖️ Regulatory & Governance

Industry Regulations

Operations are heavily regulated by the Drug Prices Control Order (DPCO) and the National Pharmaceutical Pricing Authority (NPPA), which determine the prices of certain pharmaceutical products.

Environmental Compliance

Compliance with Pollution Control norms is mandatory and noted as a potential source of additional cost burden.

Taxation Policy Impact

The company follows relevant Indian Accounting Standards (Ind AS) under Section 133 of the Companies Act, 2013.

Legal Contingencies

No non-compliance or penalties were imposed by Stock Exchanges, SEBI, or other authorities during the last three years.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the impact of government price controls on profitability, which could lead to a material adverse impact if costs are not strictly controlled.