Themis Medicare LimitedQ1 FY27 Results & Financial Update
Themis Medicare Limited: Q1 FY27 consolidated results and company financials – revenue ₹86.96 Cr, PAT ₹24.61 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Themis Medicare Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Themis Medicare Limited reported consolidated revenue from operations of INR 86.96 crore for the first quarter of fiscal year 2027, accompanied by total income of INR 87.95 crore.
The company registered a profit before tax (PBT) of INR 36.01 crore for the quarter ended June 30, 2026, supported by significant non-operating items.
Net profit after tax (PAT) reached INR 24.61 crore, translating to a basic earnings per share (EPS) of INR 2.67 for the quarter.
Management noted that the top-line performance experienced headwinds within the API business, leading to a contraction compared to the corresponding period of the previous year.
Bottom-line profitability for the quarter was heavily bolstered by a substantial one-off gain of INR 92.95 crore arising from the profit on the sale of shares.
Operating expenditure dynamics reflected cost pressures, including inventory price adjustments and higher expenses that weighed on operating margins during the period.
R&D investments continued at approximately 8% of revenue, underscoring the company's long-term commitment to pipeline expansion across key therapeutic areas.
01 · Business model
What does Themis Medicare do?
Themis Medicare Limited operates as a fully integrated pharmaceutical company engaged in the research, development, manufacturing, and marketing of pharmaceutical formulations and active pharmaceutical ingredients (APIs).
The company maintains a strong market presence across hospital and critical care segments, supported by specialized divisions covering pharma, ortho, and gynecology, alongside institutional sales and international exports to over 44 countries.
Manufacturing infrastructure spans three main facilities located in Haridwar for formulations, Hyderabad via its Artemis Biotech division for synthetic and biotech APIs, and Vapi for synthetic APIs.
The economic and operating model is anchored by continuous investment in research and development, complex injectables expertise, and long-standing global licensing partnerships.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹86.96 Cr |
| Total income | ₹87.95 Cr |
| Profit before tax | ₹36.01 Cr |
| Profit after tax | ₹24.61 Cr |
| EPS | ₹2.67 |
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
The hospital business emerged as a major growth driver, contributing 56% of total revenue in Q1 FY27, supported by focused brand promotion in critical care and intensive care divisions.
The API and co-marketing segments contributed 23% of Q1 FY27 revenue, experiencing localized market headwinds that constrained top-line expansion.
Trade operations across pharma, ortho, and gynecology divisions accounted for 21% of total quarterly revenue.
What drove margins
Profitability was substantially enhanced by a one-off gain of INR 92.95 crore from the sale of shares, which lifted pre-tax and net earnings.
Margins were impacted by price adjustments in inventory and elevated other expenses, leading to total expenditure of INR 139.38 crore against revenue of INR 86.96 crore.
Ongoing research and development investments remained active at around 8% of revenue to support differentiated product development.
04 · Demand, customers & order book
Where demand is coming from
Critical care and intensive care teams expanded hospital and doctor coverage, reinforcing a strong foothold in the fragmented institutional market.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Hospital business represented 56% of revenue in Q1 FY27 compared to 50% in FY26, driven by new product launches and expanded doctor outreach.
Trade divisions (Pharma, Ortho, Gynecology) contributed 21% of Q1 FY27 revenue, compared to 26% in the preceding fiscal year.
Geography and market mix
The company maintains export operations across more than 44 countries through long-standing global licensing partnerships.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Equipped with an annual capacity of 520 million tablets, 9 million tubes of ointment, 36 million ampoules, 12 million vials, and 6 million pre-filled syringes, backed by EU GMP certification.
Artemis Biotech in Hyderabad holds a capacity of 120 MT for synthetic APIs with EU GMP approval, while the Vapi facility maintains a capacity of 191 MT under standard GMP.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company continues to leverage its core expertise in complex injectables and hospital-focused product portfolios to target leadership positions among corporate hospitals and nursing homes.
08 · Reported developments
What changed operationally
Reported PAT of INR 24.61 crore for Q1 FY27, supported by significant non-operating gains from share sales.
09 · Pressure points & risks
What is not going smoothly
Encountered market headwinds in the API business that led to a year-on-year revenue contraction.
10 · Items worth noticing
The line items that can distort a quick read
Includes a notable one-off gain of INR 92.95 crore from the profit on the sale of shares during the quarter.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Management emphasized a priority on accelerating cash collections, recovering long-pending receivables, and optimizing working capital efficiency.
12 · Management guidance & targets
What management is targeting from here
Management expressed optimism regarding improved business momentum supported by operational efficiencies, stricter productivity measures, and a gradual recovery in core segments.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Research and Development Pipeline
The R&D division maintains rolling projects including 3 to 5 API developments and 31 formulation products, with multiple documentation filings targeted annually.
14 · Key Q&A
The quarter, answered directly
What does Themis Medicare do?
Themis Medicare Limited operates as a fully integrated pharmaceutical company engaged in the research, development, manufacturing, and marketing of pharmaceutical formulations and active pharmaceutical ingredients (APIs).
What is the clearest takeaway from Q1 FY27?
Themis Medicare Limited reported consolidated revenue from operations of INR 86.96 crore for the first quarter of fiscal year 2027, accompanied by total income of INR 87.95 crore.
What drove revenue or demand?
The hospital business emerged as a major growth driver, contributing 56% of total revenue in Q1 FY27, supported by focused brand promotion in critical care and intensive care divisions.
What mattered most for margins or profitability?
Profitability was substantially enhanced by a one-off gain of INR 92.95 crore from the sale of shares, which lifted pre-tax and net earnings.
What changed operationally beyond the headline numbers?
Equipped with an annual capacity of 520 million tablets, 9 million tubes of ointment, 36 million ampoules, 12 million vials, and 6 million pre-filled syringes, backed by EU GMP certification.
What is management guiding or targeting from here?
Management expressed optimism regarding improved business momentum supported by operational efficiencies, stricter productivity measures, and a gradual recovery in core segments.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Core Segment Recovery: Monitor sequential performance in the API and institution businesses to track the anticipated recovery through the remainder of FY27.
- 02
Working Capital Metrics: Track receivables collection and working capital efficiency initiatives highlighted by management.
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