Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Anthem Biosciences Limited (ANTHEM)
Large CapPharma stocks · Large cap · NSE
Anthem Biosciences Limited is a contract research, development, and manufacturing organization (CRDMO) and producer of specialty ingredients, serving the life sciences sector.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result21 Jul, 10:17 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
66BullishSMA20 -6.9% / mo · MACD − · sector +4.9pp vs Nifty 500 (3M)
Stock trend: 43
Sector RS: 100
Sector 3M: -0.7% vs Nifty 500 -5.6%
Pharma FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
ANTHEMD candles · FIT view+4.7%Latest close ₹805.55 on 2026-10-21
Bar
-0.4%
RSI
33
MACD hist
-7.34
52W pos
57%
2026-10-21O ₹808.45H ₹819.60L ₹795.00C ₹805.55Vol 5.0L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ANTHEMNifty PharmaNifty 500
- ANTHEM
- +1.8%
- Nifty 500
- -6.5%
- Nifty Pharma
- -2.0%
- Vs Nifty 500
- +8.3 pp
Chart stats
21 Oct 2026- From 52W high
- -17.6%
- 52W range position
- 57%
- ATR (14)
- 3.5%
- Volume vs 20D
- 1.13x
- Avg traded value
- ₹38.6 Cr
- 20D price channel
- ₹795 - ₹921
₹977.6
₹579.2 - ₹977.6
₹28.1
Latest completed session
20-session average
29.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE51
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -22.6% · PAT -11.8% YoY
Technical
Bullish66
Price trend and sector-relative-strength timing.
Valuation
Legacy model-74.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence81
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -23% YoY · PAT -12% YoY · margin expansion · operating leverage
Filed 21 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹418 Cr | -22.6% | -31.6% |
| EBITDA | ₹151 Cr | -20.9% | -43.4% |
| Operating margin | 36.0% | +100 bps | -800 bps |
| PAT | ₹120 Cr | -11.8% | -36.8% |
| PAT margin | 28.7% | +352 bps | -239 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 78.10
- P/B
- 15.17
- EV/EBITDA
- 49.81
- Market Cap
- 46315.00Cr
Profitability
- ROE
- 22.30%
- ROCE
- 30.40%
- ROA
- 16.80%
- Dividend Y
- 0.24%
Growth (CAGR)
- Revenue 5Y
- 14.00%
- EPS 5Y
- 17.00%
- Revenue 3Y
- 26.00%
- EPS 3Y
- 21.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 132.17×
- Altman Z
- 8.90
- Book Value
- 54.20
Cash Flow
- FCF Yield
- 0.31%
- FCF Positive Y
- 5/5
- OCF
- 844.00 Cr
- EPS TTM
- 10.25
Shareholding
- Promoter Hold
- 71.39%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 61%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 418-31.6% vs prev
Net Profit
₹ CrLatest: 120-36.8% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 33.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~7.4% over last month) — short-term momentum negative.
- RSI(14) at 33 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 18% off 52W high · 39% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
79
RS percentile
Stage 1 Base / Transition
1M return
-12.2%
3M return
+1.8%
6M return
+8.8%
1Y return
+10.8%
RS 1D
+2
RS 20D
-1
Sector rank
#2
Industry rank
#3
Stage evidence
- Price is within 0.6% of the 30-week proxy.
- The 30-week proxy changed +3.3% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 109.52+0.56%
RS vs Nifty 500110
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth13/25
Quality18/20
Balance Sheet10/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
51
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
51/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 18/20 to the score.
- Balance sheet contributes 10/15 to the score.
Main drags
- Fair-value margin of safety is negative at -74.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
78.1
PB
15.2
EV/EBITDA
49.8
ROE
22.3%
ROCE
30.4%
FCF Yield
0.3%
Debt/Equity
0.0
MoS
-74.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
51
Previous: 51
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-74.6%
Previous: -75.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
51
51
51
51
51
51
51
51
51
51
51
51
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹111.8
-620.5% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹461.25
-74.6% MoS
PEG
4.20
Comparable companies
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
AKUMS
Large
Akums Drugs and Pharmaceuticals Limited
Pharmaceuticals
match 160
42
37.8
8.4%
+15%
WATCHLIST
SYNGENE
Small
Syngene International Limited
Pharmaceuticals
match 154
29
52.7
7.8%
-1179%
OVERVALUED
COHANCE
Small
Cohance Lifesciences Limited
Pharmaceuticals
match 154
23
165.0
4.9%
-4672%
OVERVALUED
AARTIPHARM
Micro
Aarti Pharmalabs Limited
Pharmaceuticals
match 152
32
35.4
8.6%
+20%
WATCHLIST
DCAL
Small
Dishman Carbogen Amcis Limited
Pharmaceuticals
match 152
41
131.0
1.6%
-215%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-07-22T07:10:42.524Z
Management commentary snapshot
Anthem Biosciences reported a significant revenue decline of 22.6% YoY and 31.5% QoQ in Q1FY27, driven by timing shifts in key customer deliveries. Despite revenue pressure, EBITDA and PAT margins improved YoY to 39.6% and 27.1% respectively, reflecting cost efficiencies and yield optimization.
The sharp revenue contraction in Q1FY27 raises concerns, though management attributes it to delivery timing. The YoY margin expansion is positive, indicating operational efficiency. The thesis hinges on the company's ability to execute scheduled deliveries in H2FY27 and demonstrate sustained underlying demand.
Current business mix
Revenue Split Q1FY27
Latest issuer-disclosed distribution across 2 reported categories.
CRDMO81.5%
Specialty Ingredients18.5%
Growth engines
Underlying Demand
Management states 'The underlying demand remains strong'.
Scheduled Deliveries in H2
Management expects 'a higher concentration of scheduled deliveries in the latter half of the year'.
Long-term Growth Commitment
Management is 'firmly committed to sustaining revenue growth aligned with our long-term historical performance'.
Tailwinds
Underlying Demand
Management states 'The underlying demand remains strong'.
Scheduled Deliveries
Management expects 'a higher concentration of scheduled deliveries in the latter half of the year'.
Cost Efficiencies
Management highlights 'disciplined focus on cost efficiencies, yield optimisation, and employee productivity'.
Headwinds
Timing Shifts in Deliveries
Q1FY27 quarterly results reflect timing shifts in deliveries to key customers.
Risk radar
Execution Risk on Delayed Deliveries
Q1FY27 quarterly results reflect timing shifts in deliveries to key customers, impacting current period revenue.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The company explicitly provides both YoY and QoQ comparisons. While QoQ shows a steeper decline, management's explanation of 'timing shifts in deliveries' suggests sequential momentum is impacted by short-term factors, making both comparisons relevant to understand performance against prior year and immediate prior quarter.
Sector KPIs management disclosed
EBITDA Margin
39.6% in Q1FY27, up 153 bps YoY from 38.1% in Q1FY26.
PAT Margin
27.1% in Q1FY27, up 300 bps YoY from 24.1% in Q1FY26.
CRDMO Revenue Contribution
81.5% of total revenue in Q1FY27.
Molecules in Pipeline
14 Commercial + 10 Late Stage (Phase III) Molecules.
Management forward view
Future Revenue Growth
Management is 'positioned to capture that momentum' from H2 deliveries.
Commitment to Growth
Management is 'firmly committed to sustaining revenue growth aligned with our long-term historical performance'.
Sustaining Margins
Management expects 'to sustain this performance through the year' on margins.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | -22.6% YoY in Q1FY27 | Execution of scheduled deliveries in H2FY27 to reverse revenue decline. |
| EBITDA Margin | 39.6% in Q1FY27 | Sustained margin profile through the year as guided by management. |
| Net Cash Position | ₹17,197 Mn as of June 30, 2026 | Deployment of cash for future growth or capacity expansion. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
81Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 93rd percentile of the scored universe and 90th percentile within Pharma. Main check: results consistency is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
28 docs text-extracted · 8 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
93rd percentile
overall median 67 · Pharma: 90th pctile, median 70 · Large: 82nd pctile, median 73
Evidence depth
Financial-only
28 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
48
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 71.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.3%.
- ▸5 years of positive FCF.
Trust risks
- ▸Promoter holding fell 3.3%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Anthem Biosciences Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement Under 22 Jul - 20th AGM held July 22, 2026; shareholders approved dividend, auditor appointment, and other resolutions.
Source: Bse
Annual reportJul 2026
Jul 2026 · Letter To Shareholders 8 Jul - Letters sent to shareholders without registered emails for FY 2025–26 annual report and July 22, 2026 AGM.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 3 Jul - ICRA upgraded Anthem Biosciences’ ratings to AA (Stable) for Rs 275.5 crore bank facilities.
Source: Bse
Announcement
Announcement Under Regulation 30 (LODR)- Newspaper Publication 1 Jul - Newspaper advertisement regarding the completion of dispatch of notice of the 20th Annual General Meeting of the Company
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 30 Jun
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Jul - Newspaper Publication on Unaudited Consolidated and Standalone Financial Results for the quarter ended June 30, 2026
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised) 1d - Revised Q1FY27 press release shows revenue ₹4,182 Mn, EBITDA ₹1,755 Mn, PAT ₹1,199 Mn.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 1d - Anthem Biosciences reported Q1FY27 revenue ₹4,182 Mn, EBITDA ₹1,755 Mn, PAT ₹1,199 Mn; call on July 22.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Jul - Intimation of Schedule of Earnings Conference Call to discuss on Unaudited Standalone and Consolidated Financial Results for quarter ended June 30, 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.