CURIS
Curis Lifesciences financials
- Market cap
- ₹169 Cr
- Sector
- Healthcare
- Calls analysed
- 2
CURIS Q2 FY26
What went well
- Revenue for September 2025 stood at 2791.01 lakhs.
- EBITDA margin for September 2025 was healthy at 21.46%, with PAT margin at 15.09%.
- Company aims for 22% EBITDA margin by FY28 through strategic shift to own-brand exports.
What to watch
- Own-brand marketing is a 'very expensive and lengthy process' requiring significant financial investment and time (1-1.5 years for product registration).
- 9 out of 12 export-ready products are impacted by geopolitical instability in Yemen, posing a risk to near-term export revenue.
What Curis Lifesciences Ltd does
Curis Lifesciences operates a single WHO-GMP certified pharmaceutical manufacturing facility at Sanand GIDC-II, Ahmedabad, Gujarat, producing tablets, capsules, oral liquids, external preparations (ointments/gels/creams) and sterile ophthalmic ointments. It earns through loan licensing and contract manufacturing for domestic clients who own the brand, and through direct and merchant export of finished formulations to international markets including Yemen, Kenya, Nigeria, Ghana and the Philippines. The company is NAFDAC approved for exports to Nigeria and holds additional country-specific manufacturing/marketing registrations, and is working to shift its mix from lower-margin domestic contract manufacturing toward merchant export and own-brand sales in Africa.
Segments
- Loan licensing
- Contract manufacturing (domestic)
- Direct export
- Merchant export
- Manufacturing facility
- 1 facility at Sanand GIDC-II, Ahmedabad, Gujarat spanning 2,827 sq. m.
- Product portfolio
- 1,200+ products across dosage forms
- Installed tablet capacity
- 1,380 million units/yr (43.6% utilization, as of 31/03/2025)
- Installed capsule capacity
- 157 million units/yr (16.8% utilization, as of 31/03/2025)
- Capsule filling capacity (in-house)
- 40,000 capsules/hour
- Liquid bottle filling capacity (in-house)
- 7,200 bottles (100 ml)/hour
Guidance record · Q3 FY26
what the last two calls moved 8 tracked 0 delivered 1 missed 7 open- Tablet Capacity Utilization went quiet said Q2 FY26 Promised: achieve 80% plus tablet utilization... capacity utilization in the next 2-3 years without major capex Q3 FY26: No specific update provided on tablet utilization percentages.
- EBITDA Margin revised up said Q2 FY26 Promised: it will increase to 10%, it means it will be 22% in year 28 financial year. Q3 FY26: Management now expects to hit 22% EBITDA margin in FY26 and FY27, accelerating the timeline.
- Own Brand Marketing Revenue Contribution on track said Q2 FY26 Promised: increase it to 5% to 7%... by 27, March. I mean, Financial 27. Q3 FY26: Management stated they aim to achieve 10% of total revenue from own brand in FY27-28, which aligns with the trajectory for FY27.
All 8 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
| Line item | Q1 FY25 |
|---|---|
| Revenue | 9 |
| EBITDA | 3 |
| Net profit | 1 |
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 +58.0% YTD
YTD: ₹125.5 on 1 Jan 2026 → ₹198.35. High ₹218.65 (9 Sept 2026), low ₹88.8 (23 Mar 2026).
How the price took the results
close before → close after
- Q2 FY26
- +3.5%
- 9 Jan
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.
Balance sheet
| Year ending | FY23 | FY24 |
|---|
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 Mar 2026
Since Nov 2025, the public added +6.81 pp while DIIs trimmed −5.06 pp. The shareholder count shrank 37% to 340.
- Promoters
- 68.0%
- FIIs
- 1.2%
- DIIs
- 5.8%
- Public
- 25.0%
Since Nov 2025
- Public +6.81 pp
- DIIs −5.06 pp
- FIIs −1.74 pp
Who bought this quarter
since Nov 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ss Corporate Securities Limited newly disclosed 2.81% held
- Sachin Kapoor newly disclosed 2.04% held
- Sixth Sense Securities Private Limited newly disclosed 1.72% held
- Radhu Developers Private Limited newly disclosed 1.29% held
- Strategic Sixth Sense Capital Fund AIF +0.13 pp 2.17% held
- Llp newly disclosed 0.06% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Curis Lifesciences Ltd above SEBI's 1% disclosure line, and what changed since Nov 2025.
| Holder | Stake | Change |
|---|---|---|
| Pawasia Siddhant J | 19.05% | unchanged |
| Piyush Gordhanbhai Antala | 15.65% | unchanged |
| Dharmesh D Patel | 13.27% | unchanged |
| Patel Jaimik Mansukhlal | 10.89% | unchanged |
| Pavasiya Jayntibhai Dayaljibhai | 6.80% | unchanged |
| Ss Corporate Securities Limited | 2.81% | newly disclosed |
| Strategic Sixth Sense Capital Fund AIF | 2.17% | +0.13 pp |
| Mansukhbhai Patel | 2.04% | unchanged |
| Sachin Kapoor | 2.04% | newly disclosed |
| Sixth Sense Securities Private Limited | 1.72% | newly disclosed |
| Maiq Growth Scheme-Long Only AIF | 1.51% | unchanged |
| Rs Wealth Management Private Limited | 1.37% | 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.
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