543616
Trident Lifeline financials
- Market cap
- ₹356 Cr
- Sector
- Healthcare
What Trident Lifeline does
Trident Lifeline manufactures pharmaceutical formulations (tablets, capsules, liquids, ointments, injectables, gels, syrups and more) under its own brands and facilities, and also operates through loan-license and contract manufacturing arrangements with third parties. It sells domestically and exports directly under its own brands across registered markets, while also engaging in bulk/merchant exports to B2B players and distributors. Through subsidiaries and stake acquisitions it has extended into herbal/wellness products, skin & hair cosmetics, specialty-chemical intermediates, injectables and medical devices, controlling procurement, manufacturing, exports and sales & marketing across the value chain.
Segments
- Own-brand pharmaceutical formulations
- Contract / loan-license manufacturing
- Merchant / bulk exports
- Herbal & wellness products
- Skin & hair cosmetics
- Specialty-chemical intermediates
- Injectables
- Medical devices
- Manufacturing sites
- 5 (own plant + TNS Pharma, TLL Industries, TLL Parenterals (under construction) and Trident Mediquip)
- Consolidated manufacturing capacity per month
- Tablets 120 mn; Capsules 120 mn; Injectables 10 mn; Liquid bottles 3 mn; Dry powder bottles 3 mn; Ointments 3 mn
- Products in portfolio
- 3,625 (as of Mar 31, 2026)
- Countries present globally
- 46
- Countries where products already registered
- 23
- Export product registration applications
- 1,091 registered + 2,534 in process = 3,625 total (as of Mar 31, 2026)
Quarterly results
Q1 FY27: revenue up 42.8%, net profit up 82.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15 | 12 | 34 | 24 | 31 +103% | 26 +117% | 50 +47% | 34 +43% |
| EBITDA | 4 | 4 | 9 | 5 | 7 +69% | 5 +25% | 11 +29% | 9 +65% |
| Net profit | 3 | 3 | 6 | 3 | 5 +82% | 5 +81% | 7 +11% | 5 +82% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +7.2% 1Y
1Y: ₹280.8 on 10 Sept 2025 → ₹301. High ₹324 (2 Jan 2026), low ₹237.9 (17 Mar 2026).
Financials, as filed
Revenue grew 51.1% a year over 3 years, FY23 to FY26. Operating margin widened to 21.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹38 Cr | ₹54 Cr | ₹74 Cr | ₹131 Cr |
| Operating profit | ₹7 Cr | ₹10 Cr | ₹19 Cr | ₹28 Cr |
| Operating margin | 17.9% | 17.7% | 25.7% | 21.5% |
| Interest | ₹0 Cr | ₹1 Cr | ₹3 Cr | ₹4 Cr |
| Depreciation | ₹0 Cr | ₹1 Cr | ₹4 Cr | ₹6 Cr |
| Net profit | ₹7 Cr | ₹7 Cr | ₹13 Cr | ₹19 Cr |
| Net margin | 17.7% | 13.1% | 17.6% | 14.8% |
| Cash from operations | ₹-19 Cr | ₹2 Cr | ₹-10 Cr | ₹5 Cr |
| Free cash flow | ₹-26 Cr | ₹-16 Cr | ₹-21 Cr | ₹-29 Cr |
| ROCE | 23.0% | 15.0% | 18.0% | 21.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity capital | ₹8 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Reserves | ₹-3 Cr | ₹34 Cr | ₹41 Cr | ₹69 Cr | ₹88 Cr |
| Borrowings | ₹2 Cr | ₹8 Cr | ₹18 Cr | ₹59 Cr | ₹73 Cr |
| Other liabilities | ₹7 Cr | ₹9 Cr | ₹16 Cr | ₹47 Cr | ₹63 Cr |
| Total liabilities | ₹14 Cr | ₹63 Cr | ₹87 Cr | ₹187 Cr | ₹237 Cr |
| Fixed assets | ₹1 Cr | ₹3 Cr | ₹21 Cr | ₹46 Cr | ₹61 Cr |
| Capital work in progress | ₹0 Cr | ₹5 Cr | ₹4 Cr | ₹2 Cr | ₹18 Cr |
| Investments | ₹0 Cr | ₹3 Cr | ₹4 Cr | ₹9 Cr | ₹8 Cr |
| Other assets | ₹12 Cr | ₹51 Cr | ₹58 Cr | ₹130 Cr | ₹150 Cr |
| Total assets | ₹14 Cr | ₹63 Cr | ₹87 Cr | ₹187 Cr | ₹237 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +2.55 pp while FIIs trimmed −1.96 pp. The shareholder count grew 29% to 709.
- Promoters
- 62.6%
- FIIs
- 5.3%
- DIIs
- 0.3%
- Public
- 31.9%
Since Jun 2025
- Public +2.55 pp
- FIIs −1.96 pp
- Promoters −0.45 pp
How it drifted, 12 quarters
Over this window promoters fell from 70.0% to 62.6% — −7.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 70.0%, FIIs 4.6%, Public 25.3%.Dec '23: Promoters 70.0%, FIIs 4.6%, Public 25.3%.Mar '24: Promoters 67.5%, FIIs 6.0%, Public 26.5%.Jun '24: Promoters 65.5%, FIIs 6.0%, Public 28.5%.Sep '24: Promoters 63.0%, FIIs 6.1%, Public 30.9%.Dec '24: Promoters 63.0%, FIIs 6.1%, Public 30.9%.Mar '25: Promoters 63.0%, FIIs 6.6%, DIIs 0.1%, Public 30.3%.Jun '25: Promoters 63.0%, FIIs 7.2%, DIIs 0.4%, Public 29.4%.Sep '25: Promoters 63.1%, FIIs 7.7%, DIIs 0.4%, Public 28.8%.Dec '25: Promoters 64.1%, FIIs 7.0%, DIIs 0.3%, Public 28.5%.Mar '26: Promoters 62.9%, FIIs 7.2%, DIIs 0.3%, Public 29.6%.Jun '26: Promoters 62.6%, FIIs 5.3%, DIIs 0.3%, Public 31.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Craft Emerging Market Fund Pcc- Elite Capital Fund FPI fund +0.31 pp 1.69% held
- Hardik Jigishkumar Desai, Maniya Hardik Desai, Anjanaben Jigishkumar Desai On Behalf Of Hardik Desai Family Trust +0.11 pp 7.18% held
The same filing shows 5 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Trident Lifeline above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Desai Hardik Jigishkumar | 23.11% | unchanged |
| Hardik Jigishkumar Desai, Maniya Hardik Desai, Anjanaben Jigishkumar Desai On Behalf Of Hardik Desai Family Trust | 7.18% | +0.11 pp |
| Anjanaben Jigishkumar Desai | 7.02% | unchanged |
| Tarang Nathabhai Gajera | 5.62% | unchanged |
| Rupaben Chetanbhai Jariwala | 5.19% | −0.11 pp |
| Mayurkumar Mansukhbhai Gajera | 3.98% | unchanged |
| Mohak Gajera | 3.98% | unchanged |
| Rinkal Mayurbhai Gajera | 3.34% | −0.14 pp |
| Goenka Business And Finance Limited | 3.03% | −0.17 pp |
| NAV Capital Vcc - NAV Capital Emerging Star Fund FPI fund | 2.63% | −2.19 pp |
| Craft Emerging Market Fund Pcc- Elite Capital Fund FPI fund | 1.69% | +0.31 pp |
| Chetan Muktilal Mehta Huf | 1.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹301, this stock must grow earnings at 15% every year for 7 years. Our analysis caps realistic growth at ~32%. At that growth it is worth ₹695 — upside of 131%.
- Growth the price implies
- 15.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 31.6% a year
- net profit, FY23–FY26
- The gap
- -0.2 pp
- 131% downside if it only repeats history
Learn to analyse Trident Lifeline
Guides on how to read this kind of business and the numbers that matter.