BI
Bilcare financials
- Market cap
- ₹212 Cr
- Sector
- Healthcare
What Bilcare Limited does
Bilcare Limited is the Pune-headquartered parent of the Bilcare Group, serving the pharmaceutical industry through two operating lines run by its subsidiaries rather than directly. Caprihans India Limited (55.99%-owned) manufactures PVC and PVDC films and blister packaging materials used for primary pharmaceutical packaging. Bilcare GCS group entities based in the UK, Ireland and the USA provide clinical-trial supply-chain services -- comparator drug sourcing, development/manufacturing and primary-secondary packaging of Investigational Medicinal Products, blinding, ambient and controlled-temperature storage, and worldwide distribution through a network of depots/sites, supported by an IWRS (Interactive Web Response System). The standalone parent itself reported no in-house R&D or manufacturing expenditure in FY25 and earns brand-royalty income from group companies using the Bilcare name.
Segments
- Pharmaceutical packaging (PVC/PVDC films & blister packaging)
- Clinical trial supplies / Global Clinical Services
- Group subsidiaries
- 7 (Bilcare GCS Ltd-UK, Bilcare GCS Inc-USA, Bilcare GCS Ireland Ltd, Bilcare Inc-USA, Bilcare Pharma Solutions Ltd, Caprihans India Ltd, Bilcare Research GmbH-Germany)
- Countries with group operations
- 5 (India, UK, USA, Ireland, Germany)
- Equity stake in Caprihans India Limited (pharma-packaging subsidiary)
- 55.99%
- Registered plant/works location
- 1 (Shiroli, Rajgurunagar, Pune, India)
- New international patent applications (FY25, PPI/packaging division)
- 5
- Clinical-trial depot/site network
- Global -- expanding partnerships to cover most locations worldwide
Quarterly results
Q1 FY27: revenue up 21.5%, net profit up 250.0% 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 | 202 | 198 | 194 | 186 | 178 −12% | 181 −9% | 188 −3% | 226 +22% |
| EBITDA | 8 | 11 | 8 | 11 | 3 −62% | 13 +18% | 17 +113% | 37 +236% |
| Net profit | -30 | -16 | 12 | -10 | -23 +23% | -6 +63% | 8 −33% | 15 +250% |
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 +5.5% 1Y
1Y: ₹88.38 on 10 Sept 2025 → ₹93.25. High ₹112.45 (27 Oct 2025), low ₹51.94 (27 Mar 2026).
Financials, as filed
Revenue fell 0.9% a year over 2 years, FY24 to FY26. Operating margin widened to 6.0%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹747 Cr | ₹788 Cr | ₹733 Cr |
| Operating profit | ₹39 Cr | ₹46 Cr | ₹44 Cr |
| Operating margin | 5.2% | 5.8% | 6.0% |
| Interest | ₹83 Cr | ₹83 Cr | ₹73 Cr |
| Depreciation | ₹44 Cr | ₹40 Cr | ₹34 Cr |
| Net profit | ₹-59 Cr | ₹-49 Cr | ₹-31 Cr |
| Net margin | -7.9% | -6.2% | -4.2% |
| Cash from operations | ₹62 Cr | ₹85 Cr | ₹128 Cr |
| Free cash flow | ₹-34 Cr | ₹140 Cr | ₹120 Cr |
| ROCE | 1.0% | 1.0% | 6.0% |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹24 Cr | ₹24 Cr | ₹24 Cr | ₹24 Cr | ₹24 Cr | ₹24 Cr |
| Reserves | ₹63 Cr | ₹52 Cr | ₹507 Cr | ₹474 Cr | ₹430 Cr | ₹173 Cr |
| Borrowings | ₹677 Cr | ₹690 Cr | ₹639 Cr | ₹756 Cr | ₹672 Cr | ₹620 Cr |
| Other liabilities | ₹300 Cr | ₹362 Cr | ₹424 Cr | ₹314 Cr | ₹255 Cr | ₹26 Cr |
| Total liabilities | ₹1.1k Cr | ₹1.1k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.4k Cr | ₹843 Cr |
| Fixed assets | ₹494 Cr | ₹465 Cr | ₹1.0k Cr | ₹1.0k Cr | ₹930 Cr | ₹433 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹7 Cr | ₹8 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹8 Cr | ₹14 Cr | ₹14 Cr |
| Other assets | ₹570 Cr | ₹661 Cr | ₹545 Cr | ₹521 Cr | ₹429 Cr | ₹387 Cr |
| Total assets | ₹1.1k Cr | ₹1.1k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.4k Cr | ₹843 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
The ownership split has held steady since Jun 2025. The shareholder count shrank 7% to 15,777.
- Promoters
- 30.0%
- FIIs
- 0.0%
- Public
- 69.9%
Since Jun 2025
- Public −0.01 pp
- Promoters 0.00 pp
- FIIs 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 30.0%, FIIs 0.0%, Public 69.9%.Dec '23: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Mar '24: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Jun '24: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Sep '24: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Dec '24: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Mar '25: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Jun '25: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Sep '25: Promoters 30.0%, FIIs 0.0%, Public 69.9%.Dec '25: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Mar '26: Promoters 30.0%, FIIs 0.0%, Public 70.0%.Jun '26: Promoters 30.0%, FIIs 0.0%, Public 69.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Bilcare Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mohan Harakchand Bhandari | 24.87% | unchanged |
| Monument Pte Limited | 16.44% | unchanged |
| Guttikonda Vara Lakshmi | 14.73% | unchanged |
| Nutan Mohan Bhandari | 5.12% | unchanged |
| Guttikonda Rajasekhar | 2.20% | unchanged |
| Sharad Mohanlal Bhatevara | 1.64% | unchanged |
| Rajendra Bhagirath Tapadia | 1.06% | unchanged |
| Chhaganbhai Parsottambhai Patel Huf | 1.03% | unchanged |
| Ankita Jayesh Kariya | 0.02% | 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.
Learn to analyse Bilcare Limited
Guides on how to read this kind of business and the numbers that matter.