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Themis Medicare Limited
(THEMISMED)
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Rating:50Neutral
Price Target:
₹119.00
▲(16.10% Upside)
Action:Reiterated
Date:07/03/26
The score is held back primarily by weakening financial performance, especially the sharp margin compression and the shift to negative operating and free cash flow. Technicals are supportive (price above major moving averages with positive MACD), but valuation is a major headwind given the extremely high P/E and low dividend yield.
Positive Factors
Manageable leverage
Debt-to-equity near 0.25 provides durable financial flexibility to fund working capital, capex or R&D without immediate distress. Over a 2–6 month horizon this balance-sheet capacity helps absorb margin volatility, pursue strategic initiatives and avoid forced recapitalization.
Negative Factors
Severe margin compression
A collapse in gross margin and negative EBIT signal deep profitability stress that reduces the firm's ability to generate sustainable earnings. Over months this undermines free cash generation, constrains reinvestment, and suggests structural pricing, input-cost or product-mix issues that must be corrected to restore durable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage
Debt-to-equity near 0.25 provides durable financial flexibility to fund working capital, capex or R&D without immediate distress. Over a 2–6 month horizon this balance-sheet capacity helps absorb margin volatility, pursue strategic initiatives and avoid forced recapitalization.
Read all positive factors
Themis Medicare Limited (THEMISMED) vs. iShares MSCI India ETF (INDA)
Market Cap
₹10.68B
Dividend Yield0.48%
Average Volume (3M)6.87K
Price to Earnings (P/E)864.8
Beta (1Y)1.60
Revenue Growth-15.60%
EPS Growth-96.35%
CountryIN
Employees1,509
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.13
Shares Outstanding92,100,120
10 Day Avg. Volume6,301
30 Day Avg. Volume6,868
Financial Highlights & Ratios
PEG Ratio-5.72
Price to Book (P/B)1.58
Price to Sales (P/S)1.84
P/FCF Ratio-37.64
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, along with its affiliated entities, is a pharmaceutical company that produces and supplies medicinal goods for both the Indian and international markets. Its product portfolio encompasses active pharmaceutical ingredients ...
How the Company Makes Money
The company primarily makes money by selling pharmaceutical products. Its key revenue streams include (1) sales of finished formulations (finished dosage medicines) to customers in India and/or overseas markets and (2) sales of active pharmaceutic...
Themis Medicare Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
66
Positive
Cash Flow
29
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.42B | 4.06B | 3.82B | 3.54B | 3.95B |
| Gross Profit | 1.09B | 2.74B | 2.42B | 2.36B | 2.43B |
| EBITDA | 229.38M | 490.48M | 733.17M | 789.56M | 1.02B |
| Net Income | 11.44M | 298.33M | 435.24M | 569.01M | 728.81M |
Balance Sheet | |||||
| Total Assets | 5.98B | 5.88B | 5.66B | 5.14B | 4.28B |
| Cash, Cash Equivalents and Short-Term Investments | 91.50M | 65.59M | 99.22M | 125.47M | 202.79M |
| Total Debt | 1.00B | 829.88M | 957.92M | 923.75M | 797.32M |
| Total Liabilities | 1.99B | 1.85B | 1.89B | 1.75B | 1.40B |
| Stockholders Equity | 3.99B | 4.03B | 3.78B | 3.39B | 2.87B |
Cash Flow | |||||
| Free Cash Flow | -167.31M | 192.84M | 36.76M | -126.55M | 137.67M |
| Operating Cash Flow | -118.60M | 347.10M | 220.94M | 160.93M | 343.94M |
| Investing Cash Flow | -45.09M | -121.74M | -159.48M | -239.62M | -155.86M |
| Financing Cash Flow | 126.83M | -258.98M | -87.70M | 1.36M | -175.47M |
Themis Medicare Limited Technical Analysis
Positive
102.50
Price Trends
106.98
Positive
95.42
Positive
102.12
Positive
Market Momentum
3.13
Positive
55.66
Neutral
42.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:THEMISMED, the sentiment is Positive. The current price of 102.5 is below the 20-day moving average (MA) of 114.01, below the 50-day MA of 106.98, and above the 200-day MA of 102.12, indicating a bullish trend. The MACD of 3.13 indicates Positive momentum. The RSI at 55.66 is Neutral, neither overbought nor oversold. The STOCH value of 42.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:THEMISMED.
Themis Medicare Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹14.76B | 35.45 | ― | 1.24% | 6.89% | -23.34% | |
74 Outperform | ₹25.26B | 23.25 | ― | ― | 17.97% | 126.79% | |
60 Neutral | ₹6.46B | 103.34 | ― | ― | -1.22% | -52.32% | |
57 Neutral | ₹12.03B | 16.76 | ― | ― | 8.79% | 120.02% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹19.71B | 44.47 | ― | ― | 226.01% | -84.17% | |
50 Neutral | ₹10.68B | 864.77 | ― | 0.48% | -15.60% | -96.35% |
* General Sector Average
IN:THEMISMED
Themis Medicare Limited
112.40
-14.23
-11.24%
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IN:WANBURY
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IN:ZIMLAB
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2.03%
Themis Medicare Limited Corporate Events
Themis Medicare Receives SEBI Dematerialisation Compliance Certificate for March Quarter
Apr 8, 2026
Themis Medicare Limited has disclosed that it received a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 March 2026. The certificate, issued by its registrar and ...
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.