Anuh Pharma Limited (ANUHPHR)
₹82.57 -1.39% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Anuh Pharma's revenue was ₹194 Cr (+4.2% year on year, -4.1% on the previous quarter), and net profit ₹11.4 Cr (+42.8% year on year); the operating margin was 8.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹194 | +4.2% | -4.1% |
| Operating profit | ₹16.3 | +62.9% | -18.6% |
| Net profit | ₹11.4 | +42.8% | -4.8% |
| EPS (₹) | 1.14 | +37.3% | -2.6% |
| Operating margin | 8.4% | — | — |
ANUHPHR delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 55.97% of the ANUHPHR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 51.61%. That is close to its usual level. Turnover was only ₹44 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 49.0% · 53.3% · 42.2% · 50.9% · 56.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Anuh Pharma Limited has signed an Asset Transfer Agreement to acquire the manufacturing facility of Vanquest Pharma Private Limited in Tarapur, Maharashtra, for a cash consideration of ₹72.90 crore. The acquired assets (land, building, plant, and machinery) will add 525 MTPA of capacity for APIs and intermediates, representing a 35% expansion over its current 1,500 MTPA base. The transaction value represents approximately 20.7% of the company's net worth (₹352 crore). The counterparty is an unrelated entity, and no equity shares are being issued.
- Agreed purchase price of ₹72.90 crore (excluding applicable taxes and fees) paid in cash
- Acquisition adds 525 MTPA manufacturing capacity for APIs and intermediates
- Increases current installed capacity from 1,500 MTPA by 35% to 2,025 MTPA
- Asset deal includes land, building, and plant & machinery in Tarapur, Maharashtra
- Transaction is at arm's length with no promoter or related party involvement
Anuh Pharma's Board of Directors has approved an investment in manufacturing assets to expand its production capacity. To fund the purchase of these assets, the board approved availing a loan of up to ₹75 crore, subject to terms, conditions, and regulatory approvals. Against the company's current net worth of ₹352 crore, the proposed debt facility represents ~21.3% of net worth for a currently debt-free entity. Detailed capacity addition metrics and execution schedules are yet to be disclosed.
- Board approved investment in manufacturing assets for capacity expansion on October 13, 2026
- Approved availing a loan of up to ₹75 cr to fund asset purchases
- Loan represents ~21.3% of the company's net worth (₹352 cr)
- Company transitions from zero debt (D/E: 0.00) to taking on leverage for growth
The Board of Directors of Anuh Pharma Limited has approved investments in manufacturing assets to expand its production capacity. To fund this asset purchase, the board approved availing a loan of up to ₹75 cr, subject to finalisation of terms and regulatory approvals. The ₹75 cr loan proposal is substantial relative to the company's net worth of ₹352 cr (~21.3%) and introduces debt to a currently zero-debt balance sheet. Detailed terms, specific capex outlays, and capacity additions will be disclosed later under SEBI regulations.
- Board approved investment in manufacturing assets for production capacity expansion
- Approved availing a loan of up to ₹75 cr to fund asset purchases
- Loan represents ~21.3% of the company's net worth of ₹352 cr
- Meeting commenced at 03:30 p.m. and concluded at 04:35 p.m. on October 13, 2026
Anuh Pharma Limited submitted its certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter and half-year ended September 30, 2026. The certificate was issued by Bigshare Services Private Limited, the company's Registrar and Share Transfer Agent. The RTA confirmed that no Demat or Remat requests were received for processing during the quarter ended September 30, 2026. This is a standard quarterly compliance filing with no operational or financial impact.
- Compliance certificate submitted under Regulation 74(5) for the period 01/07/2026 to 30/09/2026
- RTA Bigshare Services confirmed zero Demat and Remat requests received during the quarter ended 30th September 2026
- Company Secretary & Compliance Officer signed the submission on 12th October, 2026
Anuh Pharma Limited received a demand order under Section 156 of the Income Tax Act, 1961, from the Assessment Unit for Assessment Year 2018-19. The demand amounts to Rs. 9,93,206 and arises from disallowances of deductions claimed. The company stated it has adequate factual and legal grounds and plans to file an appeal before the CIT within prescribed timelines. Relative to the company's net worth of Rs 352 Cr and quarterly revenue of ~Rs 197 Cr, the financial magnitude is negligible.
- Tax demand order received amounting to Rs. 9,93,206 under Section 156 of the Income Tax Act
- Pertains to Assessment Year 2018-19 regarding disallowance of certain deduction claims
- Order received on 18th September, 2026 at 11:55 AM IST
- Company is in the process of filing an appeal before the Commissioner of Income Tax (CIT)
Anuh Pharma released its Q1 FY27 investor presentation, reporting a 3.93% YoY growth in operating revenue to ₹193.81 crore. Operating profitability saw significant expansion, with EBITDA rising 41.56% YoY to ₹19.36 crore and EBITDA margins improving from 7.34% to 9.99%. Profit After Tax (PAT) grew 37.63% YoY to ₹11.42 crore, driven by a richer product mix and higher throughput from regulated markets. Production volume increased 19.46% YoY to 491 MT, with ROCE improving by 326 bps to 19.18%.
- Operating revenue rose 3.93% YoY to ₹193.81 crore from ₹186.48 crore in Q1 FY26
- EBITDA increased 41.56% YoY to ₹19.36 crore with margin expansion to 9.99% (vs 7.34% in Q1 FY26)
- PAT surged 37.63% YoY to ₹11.42 crore, while basic EPS stood at ₹1.14 vs ₹0.83 in Q1 FY26
- Production expanded 19.46% YoY to 491 MT against total installed capacity of 2,400 MTPA
- Annual growth target guided at 15-20% per annum supported by pipeline molecules like Vonoprazan Fumarate and Pretomanid
Anuh Pharma Limited announced the approval of key shareholder resolutions at its 66th Annual General Meeting held on August 12, 2026. Shareholders approved the re-appointment of Non-Executive Non-Independent Directors Mr. Bipin Nemchand Shah and Mr. Arun Lalchand Todarwal, who retired by rotation. Revisions in remuneration for Joint Managing Directors Mr. Ritesh B. Shah and Mr. Vivek Shah for FY 2026-27 were approved, along with the re-appointment of Cost Auditor Mr. Ankit Kishor Chande for FY 2026-27 and the adoption of updated MOA and AOA.
- Shareholders approved ordinary and special resolutions at the 66th AGM held on August 12, 2026
- Re-appointment of Mr. Bipin Nemchand Shah and Mr. Arun Lalchand Todarwal as Non-Executive Directors w.e.f. August 12, 2026
- Re-appointment of Cost Auditor Ankit Kishor Chande (COP No. 34051) for FY 2026-27
- Approval granted for revised remuneration payable to Joint Managing Directors Ritesh B. Shah and Vivek Shah for FY 2026-27
Anuh Pharma Limited announced that shareholders at its 66th Annual General Meeting held on August 12, 2026, approved key statutory resolutions. These include the reappointment of Mr. Bipin Nemchand Shah and Mr. Arun Lalchand Todarwal as Non-Executive Non-Independent Directors liable to retire by rotation. Additionally, the reappointment of Mr. Ankit Kishor Chande as Cost Auditor for FY2026-27, revisions in remuneration for Joint Managing Directors Mr. Ritesh B. Shah and Mr. Vivek Shah, and adoption of updated MOA and AOA were approved.
- Reappointment of Mr. Bipin Nemchand Shah and Mr. Arun Lalchand Todarwal as Non-Executive Directors approved w.e.f. August 12, 2026
- Reappointed Mr. Ankit Kishor Chande (COP No. 34051) as Cost Auditor for the financial year ending March 2027
- Approved revision in remuneration for Joint MDs Mr. Ritesh B. Shah and Mr. Vivek Shah for FY2026-27
- Adopted updated Memorandum of Association (MOA) and Articles of Association (AOA) aligned with Companies Act, 2013
Anuh Pharma Limited reported the approval of resolutions passed at its 66th Annual General Meeting held on August 12, 2026. Shareholders approved the reappointment of Non-Executive Non-Independent Directors Mr. Bipin Nemchand Shah and Mr. Arun Lalchand Todarwal upon retirement by rotation. Additionally, members approved the reappointment of Cost Auditor Mr. Ankit Kishor Chande for FY 2026-27 along with revisions in remuneration for Joint Managing Directors Mr. Ritesh B. Shah and Mr. Vivek Shah. The adoption of a new set of Memorandum of Association and Articles of Association under the Companies Act, 2013 was also approved.
- Shareholders approved all resolutions at the 66th Annual General Meeting held on August 12, 2026
- Re-appointed 2 Non-Executive Directors (Mr. Bipin Nemchand Shah and Mr. Arun Lalchand Todarwal) retiring by rotation
- Re-appointed Cost Auditor Mr. Ankit Kishor Chande (COP No. 34051) for the financial year ending March 2027
- Approved revision in remuneration for 2 Joint Managing Directors for FY 2026-27
- Approved adoption of new set of MOA and AOA aligned with the Companies Act, 2013
Anuh Pharma Limited has submitted the voting results and scrutinizer report for its 66th Annual General Meeting held on August 12, 2026. Shareholders approved all 9 resolutions with overwhelming majorities (>99.9% overall favor), including the declaration of a final dividend of Rs 1.50 per share (face value Rs 5) for FY 2025-26. Key special resolutions including remuneration revisions for Joint Managing Directors Mr. Ritesh B. Shah and Mr. Vivek Shah for FY 2026-27 and modernised Memorandum/Articles of Association were also adopted. Total voter turnout was 72.22%, representing 7.24 crore votes polled out of 10.02 crore total shares.
- Approved dividend of Rs 1.50 per equity share (face value Rs 5) for FY 2025-26
- All 9 ordinary and special resolutions approved with >99.9% overall votes in favor
- Overall voter participation was 72.22% (72,378,520 votes polled across 100,224,000 total shares)
- Approved revised managerial remuneration for Jt MDs Mr. Ritesh B. Shah and Mr. Vivek Shah for FY 2026-27
Anuh Pharma Limited conducted its 66th Annual General Meeting on August 12, 2026, where shareholders considered a dividend of ₹1.50 per equity share for FY 2025-26. Key resolutions included the revision of remuneration for Joint Managing Directors Ritesh B. Shah and Vivek Shah for the upcoming FY 2026-27. The company also proposed the adoption of a new Memorandum and Articles of Association to align with the Companies Act 2013. Voting results are expected to be disclosed within two working days.
- Dividend of ₹1.50 per equity share (face value ₹5) declared for the financial year 2025-26
- Remote e-voting was conducted between August 9, 2026, and August 11, 2026
- Total of 45 members attended the meeting held via video conferencing
- Proposed revision in remuneration for two Joint Managing Directors for FY 2026-27
- Company maintains a debt-free balance sheet with a net worth of ₹352 Cr
Three members of the Anuh Pharma promoter group—Vikram Kirtilal Shah, Kiran Piyush Shah, and Kinjal Siddharth Jhaveri—have voluntarily withdrawn their applications to be reclassified as public shareholders. This reversal follows their initial request submitted on May 20, 2026. As a result, they will continue to be classified under the 'Promoter & Promoter Group' category, which currently holds a 71.8% stake in the company. This is a procedural update and does not affect the company's operational capacity or financial health.
- 3 members of the Promoter Group withdrew their reclassification requests effective August 7, 2026
- The original application for reclassification was filed on May 20, 2026
- Promoter holding remains stable at 71.8% as per the latest June 2026 filing
- The withdrawal was made voluntarily and of the individuals' own free will
- Company maintains a strong financial position with Rs 352 Cr net worth and zero debt
Three members of the Promoter Group—Mr. Vikram Kirtilal Shah, Mrs. Kiran Piyush Shah, and Mrs. Kinjal Siddharth Jhaveri—have voluntarily withdrawn their applications to be reclassified as public shareholders. This reversal follows their initial request submitted on May 20, 2026. As a result, they will continue to be classified under the 'Promoter & Promoter Group' category. The company's promoter holding remains stable at 71.8% as of June 2026, and this administrative update does not impact the company's operations or financial standing.
- 3 individuals from the Promoter Group withdrew their reclassification requests on August 7, 2026.
- The original application for reclassification was filed with exchanges on May 20, 2026.
- Promoter holding as of June 2026 stands at 71.8%, maintaining high promoter skin-in-the-game.
- The withdrawal was made voluntarily and of the individuals' own free will as per the filing.
Anuh Pharma reported a steady Q1 FY27 with revenue from operations growing 3.9% YoY to ₹193.81 Cr. The company saw a significant expansion in profitability, with Net Profit (PAT) rising 37.6% YoY to ₹11.42 Cr, driven by improved operational efficiency as EBITDA margins rose from 7.34% to 9.99%. While YoY performance is strong, revenue saw a marginal 4.1% sequential (QoQ) decline from ₹202.12 Cr. The company maintains a robust balance sheet with zero debt and a net worth of ₹352 Cr.
- Revenue from operations increased to ₹193.81 Cr in Q1 FY27 from ₹186.48 Cr in Q1 FY26.
- Net Profit after tax grew 37.6% YoY to ₹11.42 Cr compared to ₹8.30 Cr in the previous year's quarter.
- EBITDA margins expanded by 265 basis points YoY to reach 9.99%.
- Finance costs remained negligible at ₹0.35 Lakhs, reflecting a debt-free status.
- Earnings Per Share (EPS) improved to ₹1.14 from ₹0.83 in the corresponding quarter last year.
Anuh Pharma reported a strong 37.6% YoY increase in net profit to ₹11.42 Cr for the quarter ended June 30, 2026, despite a modest 3.9% growth in revenue to ₹193.81 Cr. The performance was driven by significant margin expansion, with EBITDA margins rising to 9.99% from 7.34% in the same period last year. Additionally, three promoter group members holding a combined 0.83% stake withdrew their requests to be reclassified as public shareholders, choosing to remain in the promoter group. The company also adopted a revised policy on Related Party Transactions.
- Net Profit (PAT) grew 37.6% YoY to ₹11.42 Cr from ₹8.30 Cr in Q1 FY26.
- EBITDA margins expanded by 265 basis points to 9.99% compared to 7.34% YoY.
- Revenue from operations increased 3.9% YoY to ₹193.81 Cr from ₹186.48 Cr.
- Promoter group members holding 8,31,748 shares (0.83% stake) withdrew their reclassification applications.
- Cost of materials consumed rose to ₹159.96 Cr from ₹123.91 Cr, reflecting raw material price shifts.
Financial Performance
Revenue Growth by Segment
The company operates in a single segment (Pharmaceuticals) as per Ind AS 108; no separate segment information is provided. Total revenue for FY2024-25 was INR 661.51 Cr, representing a 2.24% YoY growth. For H1 FY2025-26, revenue grew 21.14% YoY to INR 376.73 Cr.
Geographic Revenue Split
Exports account for ~55% of total revenue (FY2024-25), with a strong presence in over 59 countries including Europe, Mexico, and South Africa. Domestic sales contribute the remaining ~45% of revenue.
Profitability Margins
Net Profit Margin was 7.20% in FY2024-25, down from 9.30% in FY2023-24. Operating Margin Ratio was 22.55% in FY2024-25 compared to 23.60% in the previous year, reflecting pressure from commoditised pricing.
EBITDA Margin
EBITDA margin for FY2024-25 was 10.64%. In H1 FY2025-26, the EBITDA margin fell to 7.13% from 11.38% in H1 FY2024-25, a decline of 425 basis points due to lower sales of high-margin products and non-recurring maintenance expenses.
Capital Expenditure
The company recently expanded its manufacturing capacity to 1,500 MTPA from 1,200 MTPA. Current Property, Plant and Equipment (PPE) is valued at INR 52.80 Cr as of September 30, 2025. Future capex is expected to be funded via internal accruals, supported by INR 83.4 Cr in cash and liquid investments.
Credit Rating & Borrowing
The company maintains a strong liquidity position with INR 83.4 Cr in cash and liquid investments against a total debt of INR 10.9 Cr (including lease liabilities) as of March 31, 2025. The interest coverage ratio was robust at 51.8 times in FY2025.
Operational Drivers
Raw Materials
Key raw materials include intermediates for Erythromycin and its salts, as well as higher macrolides like Azithromycin and Roxithromycin.
Capacity Expansion
Current installed capacity is 1,500 MTPA, which was expanded from 1,200 MTPA in FY2024 to meet growing demand in regulated markets.
Raw Material Costs
Raw material costs represent approximately 80% of revenue, based on a gross margin of 20% (INR 75.20 Cr) on revenue of INR 376.73 Cr in H1 FY2025-26.
Manufacturing Efficiency
The company recently completed a state-of-the-art manufacturing facility targeted at regulated markets, which commenced commercial production on December 21, 2019.
Strategic Growth
Expected Growth Rate
21.14%
Growth Strategy
Growth will be achieved through the ramp-up of the recently expanded 1,500 MTPA capacity, entry into new geographies, and the launch of new products developed through R&D to diversify the portfolio beyond core macrolides like Erythromycin.
Products & Services
Active Pharmaceutical Ingredients (APIs) including Erythromycin and its salts, and higher macrolides such as Azithromycin and Roxithromycin.
New Products/Services
The company is launching new products to strengthen its portfolio; however, the specific expected revenue contribution percentage is not quantified in the documents.
Market Expansion
The company is targeting expansion in regulated and semi-regulated markets including Western Europe, Mexico, and South Africa.
Market Share & Ranking
The company is described as a medium-sized player in the API/bulk drugs industry.
Strategic Alliances
The company maintains strong marketing partnerships with 360 customers across 59 countries.
External Factors
Industry Trends
The API industry is seeing a shift toward regulated markets; Anuh Pharma is positioning itself by obtaining certifications like WHO GMP and COFEPRIS to capture higher-realisation volumes. Current revenue growth is 21.14% for H1 FY2025-26.
Competitive Landscape
The company faces intense price-based competition from other medium and large-sized API manufacturers in commoditised product segments.
Competitive Moat
Durable advantages include regulatory certifications (CEP, WHO GMP, EDQM) required for regulated markets and an established track record with 360 customers. These are sustainable as they act as significant entry barriers for competitors.
Macro Economic Sensitivity
The company is sensitive to global demand for bulk drugs and forex volatility, as evidenced by unrealised currency losses impacting H1 FY2025-26 margins.
Geopolitical Risks
Exposure to trade barriers and regulatory changes in 59 export countries could impact the 55% of revenue derived from international markets.
Regulatory & Governance
Industry Regulations
Operations are governed by WHO GMP, COFEPRIS (Mexico), EDQM, and CEP standards. Compliance is critical as any suspension of these certifications would halt exports to regulated markets.
Environmental Compliance
The company has an active CSR committee and follows a board-approved CSR policy available on its website.
Taxation Policy Impact
The effective tax rate is approximately 23.7%, based on a tax expense of INR 4.96 Cr on a PBT of INR 20.87 Cr in H1 FY2025-26.
Risk Analysis
Key Uncertainties
Key risks include the successful ramp-up of enhanced capacity and the sustainability of operating margins, which have a negative rating trigger if they fall below 7% on a sustained basis.
Geographic Concentration Risk
55% of revenue is concentrated in export markets, specifically Europe, Mexico, and South Africa.
Technology Obsolescence Risk
Technology risk is mitigated by ongoing R&D focus on new product launches and diversification into higher macrolides.
Credit & Counterparty Risk
Receivables quality is monitored; the Debtors Turnover Ratio increased to 113 days in FY2024-25 from 102 days in the previous year, indicating a slight stretching of credit terms.
