Anthem Biosciences Ltd
ANTHEM NSE
Anthem Biosciences Ltd
HealthcareNSE: ANTHEM BSE: 544449 Pharmaceuticals & Biotechnology
Incorporated in 2006, Anthem Biosciences Ltd is in the business of providing CRDMO services and the manufacture and sale of specialty ingredients.[1]
AI Verdict: BUY Confidence: 6%
Anthem Biosciences is a high-quality CDMO with strong profit growth of 35% TTM, consistent ROE of 21-23% over 3-5 years, and a near debt-free balance sheet. However, the stock trades at a steep PE of 75.9x and 14.77x book value, limiting margin of safety at current levels. Unanimous analyst consensus (7/7 Buy) and robust sales CAGR of 26% over 3 years support a BUY with a long-term horizon.
Key Fundamentals
MidcapBiotechnologyHealthcareMarket Cap
₹43,446 Cr
Volatility
Moderate
P/E Ratio
72.27
EBITDA
₹809 Cr
Debt to Equity
0.08
Book Value
₹54.03
52W High
₹873.5
52W Low
₹579.15
Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
1- Stock is trading at 14.2 times its book value
Growth Rate
Revenue Growth
10.05% ↘
Net Income Growth
29.17% ↘
Cash Flow Change
198.49% ↗
ROE
-1.83% ↘
ROCE
13.75% ↘
EBITDA Margin (Avg.)
-9.42% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoBUY
Risk medium
Anthem Biosciences is a high-quality CDMO with strong profit growth of 35% TTM, consistent ROE of 21-23% over 3-5 years, and a near debt-free balance sheet. However, the stock trades at a steep PE of 75.9x and 14.77x book value, limiting margin of safety at current levels. Unanimous analyst consensus (7/7 Buy) and robust sales CAGR of 26% over 3 years support a BUY with a long-term horizon.
Bull Case 8
- Compounded profit growth of 35% TTM significantly outpaces sales growth of 15%, indicating improving margins and operating leverage
- 3-year sales CAGR of 26% demonstrates strong and sustained revenue momentum in the CDMO/pharma services space
- Company is almost debt-free, reducing financial risk and interest burden in a rising rate environment
- Consistent ROE of 21-23% over 3-5 years reflects efficient capital allocation and high-quality earnings
- Unanimous analyst consensus with 100% Buy ratings (7 out of 7 analysts) signals strong institutional conviction
- 5-year compounded profit CAGR of 18% shows durable long-term earnings growth trajectory
- Market cap of Rs 44,864 Cr positions it as a mid-to-large cap with sufficient liquidity and institutional interest
- Company has actively reduced debt, strengthening the balance sheet for future capex or acquisition-led growth
Bear Case 8
- PE ratio of 75.9x is extremely expensive relative to healthcare sector median of ~35-40x, leaving little room for execution misses
- Price-to-book of 14.77x means the stock trades at nearly 15 times book value, pricing in years of future growth
- Dividend yield of just 0.25% offers negligible income support, making returns entirely dependent on capital appreciation
- TTM sales growth has decelerated to 15% from 3-year CAGR of 26%, suggesting potential growth slowdown
- 52-week high and low data unavailable (reported as 0), making it difficult to assess current price relative to trading range
- EPS and debt-to-equity data not available, limiting full fundamental visibility for investors
- At 75.9x PE, even a modest earnings miss could trigger a sharp de-rating given stretched valuations
- CDMO sector faces global competitive pressure from Chinese players, which could compress margins over time
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 14h ago Neutral 3
- No promoter share encumbrance Jun 23
Promoter Ajay Bhardwaj confirmed zero shares were encumbered in FY26, disclosed to BSE and NSE.
- Promoter group shares unencumbered Jun 16
Ishaan Bhardwaj and promoter group declared no share encumbrance in FY26 under SEBI takeover regulations.
- Investor plant visit scheduled Jun 5
Anthem Biosciences scheduled a Bangalore plant visit and analyst group meeting on June 10, 2026, with no UPSI to be shared.
TL;DR: Recent news flow for Anthem Biosciences is entirely routine and compliance-driven, with no material positive or negative catalysts. Promoter share encumbrance disclosures confirm clean governance with zero pledged shares in FY26. The scheduled investor plant visit signals continued engagement with the Street. With no operational or financial updates in the mix, the near-term outlook depends on upcoming results and any developments from the June 10 analyst meet.
Quarterly Results
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 339 | 525 | 498 | 483 | 540 | 550 | 423 | 611 |
| Expenses | 218 | 330 | 338 | 288 | 349 | 332 | 266 | 344 |
| Operating Profit | 121 | 195 | 160 | 195 | 191 | 218 | 157 | 267 |
| OPM % | 36% | 37% | 32% | 40% | 35% | 40% | 37% | 44% |
| Other Income | 19 | 28 | 24 | 14 | 23 | 48 | 8 | 52 |
| Interest | 4 | 4 | 3 | 1 | 2 | 3 | 0 | 2 |
| Depreciation | 19 | 20 | 20 | 30 | 26 | 34 | 35 | 40 |
| PBT | 118 | 200 | 161 | 178 | 186 | 230 | 130 | 278 |
| Tax % | 30% | 19% | 23% | 54% | 27% | 24% | 29% | 32% |
| Net Profit | 82 | 162 | 124 | 83 | 136 | 173 | 93 | 190 |
| EPS in Rs | 1.47 | 2.9 | 2.22 | 1.48 | 2.42 | 3.09 | 1.65 | 3.38 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 633 | 1,103 | 1,231 | 1,057 | 1,419 | 1,845 | 2,124 |
| Expenses | 451 | 695 | 666 | 626 | 914 | 1,173 | 1,291 |
| Operating Profit | 182 | 408 | 565 | 431 | 506 | 672 | 834 |
| OPM % | 29% | 37% | 46% | 41% | 36% | 36% | 39% |
| Other Income | 21 | 37 | 49 | 139 | 63 | 85 | 131 |
| Interest | 20 | 17 | 10 | 9 | 10 | 11 | 7 |
| Depreciation | 62 | 62 | 58 | 64 | 82 | 89 | 134 |
| PBT | 121 | 366 | 546 | 497 | 477 | 657 | 824 |
| Tax % | 23% | 26% | 26% | 23% | 23% | 31% | 28% |
| Net Profit | 93 | 271 | 406 | 385 | 367 | 451 | 592 |
| EPS in Rs | 111 | 320 | 462 | 6.75 | 6.57 | 8.07 | 10.54 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 19% |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 9 | 114 | 112 | 112 | 112 |
| Reserves | 413 | 693 | 1,346 | 1,627 | 1,813 | 2,298 | 2,930 |
| Borrowings | 159 | 100 | 35 | 126 | 239 | 113 | 53 |
| Other Liabilities | 207 | 232 | 228 | 148 | 235 | 284 | 334 |
| Total Liabilities | 787 | 1,034 | 1,619 | 2,014 | 2,398 | 2,808 | 3,429 |
| Fixed Assets | 306 | 361 | 329 | 449 | 483 | 705 | 783 |
| CWIP | 50 | 19 | 154 | 164 | 345 | 297 | 264 |
| Investments | 99 | 209 | 273 | 499 | 472 | 433 | 1,007 |
| Other Assets | 333 | 445 | 863 | 902 | 1,099 | 1,373 | 1,374 |
| Total Assets | 787 | 1,034 | 1,619 | 2,014 | 2,398 | 2,808 | 3,429 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 166 | 278 | 333 | 306 | 140 | 418 | 844 |
| Investing | -109 | -196 | -205 | -376 | -221 | -152 | -702 |
| Financing | -48 | -63 | 181 | 64 | -77 | -134 | -40 |
| Net Cash Flow | 9 | 18 | 308 | -6 | -158 | 133 | 103 |
| Free Cash Flow | 119 | 159 | 307 | 112 | -156 | 154 | 637 |
| CFO/OP | 116 | 85 | 81 | 98 | 51 | 86 | 126 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 61 | 84 | 97 | 95 | 126 | 89 | 101 |
| Inventory Days | 186 | 29 | 52 | 139 | 129 | 167 | 56 |
| Days Payable | 87 | 50 | 50 | 77 | 61 | 54 | 34 |
| Cash Conversion Cycle | 160 | 63 | 99 | 156 | 193 | 202 | 124 |
| Working Capital Days | 20 | 27 | 75 | 112 | 128 | 134 | 207 |
| ROCE % | — | 55% | 51% | 28% | 24% | 28% | 30% |
Documents
1
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - Anthem Biosciences says it is not a Large Corporate; outstanding borrowing was INR 2.96 crore. 30 Apr - Anthem Biosciences says it is not a Large Corporate; outstanding borrowing was INR 2.96 crore.
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - Anthem Biosciences says it is not a Large Corporate; outstanding borrowing was INR 2.96 crore. 30 Apr - Anthem Biosciences says it is not a Large Corporate; outstanding borrowing was INR 2.96 crore.
3
Announcement Under Regulation 30 Of LODR-Update In The Outcome Of The Board Meeting Held On April 22, 2026
22 Apr - Board approved S.R. Batliboi as auditor and sought approval for ₹1,276.83 million promoter payout from investor divestment. 22 Apr - Board approved S.R. Batliboi as auditor and sought approval for ₹1,276.83 million promoter payout from investor divestment.
4
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
22 Apr - Board approved SR Batliboi as statutory auditor for 5 years and an upside-sharing payout of INR 1,276.83 million. 22 Apr - Board approved SR Batliboi as statutory auditor for 5 years and an upside-sharing payout of INR 1,276.83 million.
5
Announcement Under Regulation 30 Of LODR-Update In The Outcome Of The Board Meeting Held On April 22, 2026
10h - Board approved S.R. Batliboi as auditor and sought approval for ₹1,276.83 million promoter payout from investor divestment. 10h - Board approved S.R. Batliboi as auditor and sought approval for ₹1,276.83 million promoter payout from investor divestment.
Frequently Asked Questions about Anthem Biosciences Ltd
What does Anthem Biosciences Ltd do?
Incorporated in 2006, Anthem Biosciences
Ltd is in the business of providing CRDMO services and the manufacture and sale of specialty ingredients.[1]
Where is Anthem Biosciences Ltd (ANTHEM) listed?
Anthem Biosciences Ltd is listed on the Indian stock exchanges. It is listed on NSE: ANTHEM and BSE: 544449. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Anthem Biosciences Ltd belong to?
Anthem Biosciences Ltd operates in the Healthcare sector within the Pharmaceuticals & Biotechnology industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Anthem Biosciences Ltd?
Anthem Biosciences Ltd has a market capitalisation of approximately ₹43445.76 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Anthem Biosciences Ltd?
The Price-to-Earnings (PE) ratio of Anthem Biosciences Ltd is 72.27. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Anthem Biosciences Ltd?
Over the past 52 weeks, Anthem Biosciences Ltd has traded between a low of ₹579.15 and a high of ₹873.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Anthem Biosciences Ltd pay dividends?
Yes, Anthem Biosciences Ltd has a dividend yield of 0.26%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
How can I research Anthem Biosciences Ltd on Tapetide?
On Tapetide, you can view Anthem Biosciences Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 2006, Anthem Biosciences Ltd is in the business of providing CRDMO services and the manufacture and sale of specialty ingredients.[1]
Website anthembio.com
CEO Mr. Ajay Bhardwaj B.Tech., M.S
Listed 2025-07-21
Face Value ₹ 2
Issued Size 56,16,10,051