Themis Medicare Limited (IN:THEMISMED)
:THEMISMED
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Themis Medicare Limited
(THEMISMED)
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Rating:60Neutral
Price Target:
₹78.00
▼(-23.90% Downside)
Action:ReiteratedDate:04/02/26
Score is driven by solid underlying financial performance (strong growth and stable balance sheet), partially offset by weaker cash-flow consistency and profitability volatility. Technicals are the biggest near-term risk, with a clear downtrend and bearish momentum despite oversold readings. Valuation is neutral overall due to a moderate P/E and low dividend yield.
Positive Factors
Revenue growth & high gross margins
Consistent top-line gains paired with high gross margins indicate durable product demand and manufacturing cost efficiency. This combination supports reinvestment in capacity and R&D, sustains operating leverage as volumes scale, and underpins long-term margin resilience versus purely commoditized peers.
Negative Factors
Recent reported revenue contraction
A sizable recent revenue decline is a material structural risk if it reflects lost market share, pricing pressure, or product de-listings. Sustained revenue weakness can erode operating leverage, compress margins, and require margin restoration via cost cuts or larger reinvestment cycles to regain growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & high gross margins
Consistent top-line gains paired with high gross margins indicate durable product demand and manufacturing cost efficiency. This combination supports reinvestment in capacity and R&D, sustains operating leverage as volumes scale, and underpins long-term margin resilience versus purely commoditized peers.
Read all positive factors
Themis Medicare Limited (THEMISMED) vs. iShares MSCI India ETF (INDA)
Market Cap
₹7.28B
Dividend Yield0.48%
Average Volume (3M)6.87K
Price to Earnings (P/E)22.9
Beta (1Y)1.73
Revenue Growth-18.86%
EPS Growth-150.92%
CountryIN
Employees1,509
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)1.10
Shares Outstanding92,100,120
10 Day Avg. Volume6,301
30 Day Avg. Volume6,868
Financial Highlights & Ratios
PEG Ratio-1.45
Price to Book (P/B)3.39
Price to Sales (P/S)3.37
P/FCF Ratio70.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Themis Medicare Limited Business Overview & Revenue Model
Company Description
Themis Medicare Limited, together with its subsidiaries, manufactures and sells pharmaceutical products in India and internationally. It offers active pharmaceutical ingredients and formulations for use in various therapeutic areas, including anti...
How the Company Makes Money
Themis Medicare Limited primarily makes money by selling pharmaceutical products. Key revenue streams include: (1) sales of finished dosage formulations (branded and/or generic medicines) to distribution channels such as wholesalers, distributors,...
Themis Medicare Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.41B | 4.06B | 3.82B | 3.54B | 3.95B | 2.31B |
| Gross Profit | 2.15B | 2.74B | 2.42B | 2.36B | 2.43B | 1.50B |
| EBITDA | -99.69M | 490.48M | 733.17M | 789.56M | 1.02B | 531.16M |
| Net Income | -269.80M | 298.33M | 435.24M | 569.01M | 728.81M | 357.03M |
Balance Sheet | ||||||
| Total Assets | 5.82B | 5.88B | 5.66B | 5.14B | 4.28B | 3.71B |
| Cash, Cash Equivalents and Short-Term Investments | 189.59M | 65.59M | 99.22M | 125.47M | 202.79M | 190.18M |
| Total Debt | 955.64M | 829.88M | 957.92M | 923.75M | 797.32M | 871.82M |
| Total Liabilities | 2.02B | 1.85B | 1.89B | 1.75B | 1.40B | 1.53B |
| Stockholders Equity | 3.80B | 4.03B | 3.78B | 3.39B | 2.87B | 2.19B |
Cash Flow | ||||||
| Free Cash Flow | -40.38M | 192.84M | 36.76M | -126.55M | 137.67M | 389.36M |
| Operating Cash Flow | -14.84M | 347.10M | 220.94M | 160.93M | 343.94M | 569.75M |
| Investing Cash Flow | -6.82M | -121.74M | -159.48M | -239.62M | -155.86M | -156.51M |
| Financing Cash Flow | 37.41M | -258.98M | -87.70M | 1.36M | -175.47M | -256.47M |
Themis Medicare Limited Technical Analysis
Neutral
102.50
Price Trends
81.82
Negative
93.68
Negative
107.14
Negative
Market Momentum
-3.27
Negative
51.17
Neutral
55.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:THEMISMED, the sentiment is Neutral. The current price of 102.5 is above the 20-day moving average (MA) of 76.31, above the 50-day MA of 81.82, and below the 200-day MA of 107.14, indicating a neutral trend. The MACD of -3.27 indicates Negative momentum. The RSI at 51.17 is Neutral, neither overbought nor oversold. The STOCH value of 55.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:THEMISMED.
Themis Medicare Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹12.24B | 8.47 | ― | 0.37% | ― | ― | |
74 Outperform | ₹24.79B | 18.57 | ― | 0.28% | 7.51% | 71.81% | |
67 Neutral | ₹12.46B | 28.83 | ― | 1.24% | 24.60% | 153.56% | |
64 Neutral | ₹8.05B | 12.53 | ― | ― | 8.92% | -5.56% | |
60 Neutral | ₹7.28B | 22.95 | ― | 0.48% | -18.86% | -150.92% | |
57 Neutral | ₹5.82B | 19.44 | ― | 1.96% | -6.96% | -66.75% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IN:THEMISMED
Themis Medicare Limited
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Themis Medicare Limited Corporate Events
Themis Medicare Shareholders Approve Resolutions via Postal Ballot
Mar 28, 2026
Themis Medicare Limited has announced the completion of a postal ballot process, conducted through remote e-voting, to seek shareholder approval on various business resolutions. The company reported that all resolutions detailed in the February 25...
Themis Medicare contests Rs 13.32 crore income-tax demand, says no hit to finances
Mar 26, 2026
Themis Medicare Limited has disclosed that it received a notice from the Income Tax Department’s Vapi circle under Section 226(3) of the Income-tax Act, directing payment of outstanding tax demands for assessment years 2017-18, 2018-19 and 2...
Themis Medicare Closes Trading Window Ahead of March Quarter Results
Mar 24, 2026
Themis Medicare Limited has announced the closure of its trading window for dealings in the company’s shares from 1 April 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its own code of conduct. The window will...
Themis Medicare Raises Price for Preferential Convertible Warrants to Institutional Investor
Mar 10, 2026
Themis Medicare Limited has revised the pricing of its proposed convertible equity warrants to Rs. 102.87 per warrant, up from an earlier Rs. 100, following a modified pricing certificate issued under SEBI regulations. The warrants, to be issued v...
Themis Medicare Raises Price, Amends Terms of Promoters’ Preferential Warrant Issue
Mar 10, 2026
Themis Medicare has issued a corrigendum to its February 25, 2026 postal ballot notice seeking shareholder approval for a preferential issue of convertible equity warrants to promoter group entity Vividhmargi Investments. Following observations fr...
Themis Medicare Launches Digital-Only Postal Ballot for Shareholder Resolutions
Feb 25, 2026
Themis Medicare Limited has initiated a postal ballot process, conducted exclusively through remote e-voting, to seek shareholder approval for ordinary and special resolutions in line with the Companies Act and SEBI listing regulations. The notice...
Themis Medicare Clears Preferential Issue of Convertible Warrants to Investor
Feb 25, 2026
Themis Medicare’s board-appointed Preferential Issue Committee has approved the allotment of 4,595,795 convertible equity warrants to Vividhmargi Investments Private Limited on a preferential basis. The minimum issue price has been set at Rs...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.