ANTHEM

Anthem Biosciences share price & financials

Price
₹791.05
Market cap
₹44.5k Cr
Sector
Healthcare
Calls analysed
5
Latest concall · Q1 FY27 · call held 22 Jul 2026

Anthem Biosciences Limited Q1 FY27

Revenue ₹418 cr EBITDA ₹176 cr EBITDA Margin 39.6% PAT ₹120 cr

What went well

  • Consolidated revenues from operations for the quarter were Rs. 418 crores.
  • EBITDA was Rs. 176 crores, with EBITDA margin at 39.6%.
  • PAT for the quarter was Rs. 120 crores, with PAT margins at 27.1%.

What to watch

  • Q1 FY27 results reflect timing shifts in deliveries to key customers, leading to a softer quarter.
  • Unit 2 utilization was about 50% for Q1 FY27 across expanded capacity.
Read the full call →

What Anthem Biosciences Limited does

Anthem Biosciences is an integrated Contract Research, Development and Manufacturing Organisation (CRDMO) that provides drug discovery, development and manufacturing services to global biotech and pharmaceutical companies, working with both New Chemical Entities (NCEs) and New Biological Entities (NBEs) from preclinical through commercial-scale production. Alongside this, it runs a Specialty Ingredients business manufacturing probiotics, enzymes, nutritional actives, APIs, vitamin analogues and biosimilars for pharmaceutical and nutrition customers. It earns fee-for-service and manufacturing revenue by executing discovery-to-commercialisation projects for global biopharma customers and by supplying specialty ingredient products. Its technology platforms span RNA interference, antibody-drug conjugates, peptides, lipids and oligonucleotides, built on in-house custom synthesis, fermentation and biotransformation manufacturing capabilities.

Segments

  • CRDMO
  • Specialty Ingredients
Manufacturing facilities
3 cGMP facilities in Karnataka (Bommasandra Unit I; Harohalli Units II and III/NeoAnthem), plus a new Unit IV greenfield facility under construction at Harohalli
Custom synthesis capacity
425 KL
Fermentation capacity
142 KL
Commercial molecules manufactured
14
Cumulative customers served
675+
Cumulative projects executed
8,000+
Founded 2006Headquarters Bommasandra, Bengaluru, Karnataka, IndiaEmployees 2,282 (March 31, 2026) Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 4 delivered 0 missed 10 open
  • Revenue Growth (YoY) delivered, diluted said Q1 FY26 Promised: about 20% growth on a year-on-year basis Q1 FY27: Promise pertains to FY26, which is complete. Final verdict stands.
  • Revenue Growth (YoY) at risk said Q4 FY26 Promised: in the vicinity of 20% and more... in the coming years Q1 FY27: Q1 FY27 revenue declined YoY due to timing shifts. Management now guides for 'double-digit' growth for the full year, a softer tone than the original '20% and more' aspiration.
  • Unit-4 Phase 1 Commissioning on track said Q2 FY26 Promised: consistently commissioned in two years from now Q1 FY27: Timeline reaffirmed. Management states Unit 4 will be ready by the end of FY28, consistent with the original target.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 22.6%, net profit down 11.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue525 498 483 540 550 +5%423 −15%611 +27%418 −23%
EBITDA195 160 195 191 218 +12%157 −2%267 +37%151 −21%
Net profit162 124 83 136 173 +7%93 −25%190 +129%120 −12%
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 +15.4% 1Y

₹600₹700₹800₹900Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 5 Feb 2026Q4 FY26 — 20 May 2026Q1 FY27 — 22 Jul 2026

1Y: ₹815.2 on 10 Sept 2025 → ₹940.9. High ₹957.8 (8 Sept 2026), low ₹587.85 (1 Feb 2026).

How the price took the results

close before → close after

Q1 FY27
−1.6%
22 Jul
Q4 FY26
−0.9%
20 May
Q3 FY26
+4.9%
5 Feb
Q2 FY26
+1.2%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 15.1% a year over 1 year, FY25 to FY26. Operating margin widened to 39.2%.

Year endingFY25FY26
Revenue₹1.8k Cr₹2.1k Cr
Operating profit₹671 Cr₹833 Cr
Operating margin36.4%39.2%
Interest₹12 Cr₹7 Cr
Depreciation₹89 Cr₹135 Cr
Net profit₹451 Cr₹592 Cr
Net margin24.4%27.9%
Cash from operations₹271 Cr₹844 Cr
Free cash flow₹12 Cr₹637 Cr
ROCE28.0%30.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹8 Cr₹9 Cr₹114 Cr₹112 Cr₹112 Cr₹112 Cr
Reserves₹693 Cr₹1.3k Cr₹1.6k Cr₹1.8k Cr₹2.6k Cr₹2.9k Cr
Borrowings₹100 Cr₹35 Cr₹126 Cr₹239 Cr₹108 Cr₹54 Cr
Other liabilities₹232 Cr₹228 Cr₹148 Cr₹235 Cr₹424 Cr₹333 Cr
Total liabilities₹1.0k Cr₹1.6k Cr₹2.0k Cr₹2.4k Cr₹3.3k Cr₹3.4k Cr
Fixed assets₹361 Cr₹329 Cr₹449 Cr₹483 Cr₹769 Cr₹783 Cr
Capital work in progress₹19 Cr₹154 Cr₹164 Cr₹345 Cr₹263 Cr₹264 Cr
Investments₹209 Cr₹273 Cr₹499 Cr₹472 Cr₹545 Cr₹1.0k Cr
Other assets₹445 Cr₹863 Cr₹902 Cr₹1.1k Cr₹1.7k Cr₹1.4k Cr
Total assets₹1.0k Cr₹1.6k Cr₹2.0k Cr₹2.4k Cr₹3.3k Cr₹3.4k 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 Sep 2025, DIIs added +6.27 pp while the public trimmed −3.90 pp. The shareholder count shrank 20% to 1,73,273.

Promoters
71.4%
FIIs
2.6%
DIIs
13.5%
Public
12.5%

Since Sep 2025

  • DIIs +6.27 pp
  • Public −3.90 pp
  • Promoters −3.27 pp

How it drifted, 4 quarters

Over this window DIIs went from 7.2% to 13.5% — +6.3 pp.

Sep '25Dec '25Jun '26

Ownership split by quarter, oldest first. Sep '25: Promoters 74.7%, FIIs 1.7%, DIIs 7.2%, Public 16.4%.Dec '25: Promoters 74.7%, FIIs 1.4%, DIIs 7.6%, Public 16.3%.Mar '26: Promoters 74.7%, FIIs 1.3%, DIIs 11.6%, Public 12.5%.Jun '26: Promoters 71.4%, FIIs 2.6%, DIIs 13.5%, Public 12.5%.

Who was buying across the market this quarter →

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.

The same filing shows 4 holders trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Anthem Biosciences Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Ajay Bhardwaj 42.40%−0.13 pp
Ishaan Bhardwaj 10.13%unchanged
Ganesh Sambasivam 8.11%unchanged
K C Ravindra 7.75%unchanged
Portsmouth Technologies Llc 2.73%unchanged
HDFC Trustee Company Limited-HDFC Flexi Cap Fund Mutual fund2.44%newly disclosed
Malay Jiban Barua 2.26%unchanged
Satish S Sharma 2.26%unchanged
Rupesh Narharrao Kinekar 2.21%−0.06 pp
SBI Mnc Fund Mutual fund1.76%newly disclosed
Quant Mutual Fund-Quant Mid Cap Fund Mutual fund1.47%−0.17 pp
Axis ELSS Tax Saver Fund Mutual fund1.19%newly disclosed

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.

Mutual funds in ANTHEM

Filings to Aug 2026

0 new, 8 added, 1 trimmed, 0 sold out — net +2.24 L shares (+0.9%).

Held by funds
₹2.1k Cr
24 schemes
Biggest holder
HDFC Flexi Cap Fund
₹674 Cr · 0.6% of that fund
SchemeHoldingLast month
HDFC Flexi Cap Fund HDFC Mutual Fund₹674 Crheld
SBI Midcap Fund SBI Mutual Fund₹386 Crheld
SBI MNC Fund SBI Mutual Fund₹207 Crheld
SBI Healthcare Opportunities Fund SBI Mutual Fund₹168 Crheld
HDFC Manufacturing Fund HDFC Mutual Fund₹121 Crheld
Nippon India Pharma Fund Nippon India Mutual Fund₹114 Cr+2.17 L
HDFC Business Cycle Fund HDFC Mutual Fund₹108 Crheld
HDFC Pharma and Healthcare Fund HDFC Mutual Fund₹105 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

8 added, 1 trimmed — net +2.24 L shares (+0.9%)

Funds are sitting on
+12%
vs est. average cost
Held by funds
₹2.1k Cr
24 schemes · ≈ 4.4% of the company
Biggest holder
HDFC Flexi Cap Fund
₹674 Cr · 0.6% of that fund
Longest holder
SBI MNC Fund
1y 2m · since Jul '25

Shares held by these funds +207%

Jul '25 2.45 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹941, this stock must grow earnings at 45% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹470 — downside of 50%.

Growth the price implies
45.4% a year
for 7 years, fading to 4%
It has actually compounded at
31.3% a year
net profit, FY25–FY26 · EPS 30.6%
The gap
0.1 pp
-50% downside if it only repeats history
Price today ₹940.9 Value at the reference growth ₹470.27

Change the assumptions yourself →

All earnings calls (5)

Read the Q1 FY27 call →

Learn to analyse Anthem Biosciences Limited

Guides on how to read this kind of business and the numbers that matter.