Gujarat Themis Biosyn Limited stands as a prominent pharmaceutical manufacturer in India, with a rich history dating back to its incorporation in 1981. The company was originally incorporated in 1981 as a joint sector company with Gujarat Industrial Investment Corporation Ltd (GIIC) and Chemosyn (P) Ltd, and commenced production in August 1985. From 1991, it faced several issues, thus making it a BIFR (Board of Industrial and Financial Reconstruction) case. It was then taken over by a group of investors – Lyka Labs, Themis Chemicals, Kopran, Cadila, and Yuhan Corporation (South Korea).
The company has established itself as a significant player in the pharmaceutical sector, particularly in the manufacturing of bulk drugs and active pharmaceutical ingredients (APIs). Gujarat Themis Biosyn Limited is an India-based company, which is principally engaged in the manufacturing of pharmaceuticals and medicinal chemical products. The Company is focused on the business of manufacturing and sale of finished active pharmaceutical ingredients (API) products by fermentation process.
Gujarat Themis Biosyn operates primarily in the pharmaceutical manufacturing sector, with a specialized focus on fermentation-based production processes. The Company operates through manufacturing of the bulk drugs segment. Its product portfolio comprises Rifamycin-O and Rifamycin-S. Gujarat Themis Biosyn is engaged in the manufacturing of APIs, namely, Rifamycin S and Rifamycin O.
The company holds a distinguished position in India's pharmaceutical landscape, being the first Company to start commercial production of the Anti-tuberculosis drug Rifampicin after entering into Technical & Financial collaboration with Yuhan Corporation, South Korea. This pioneering achievement has established Gujarat Themis Biosyn as a key player in anti-tuberculosis drug manufacturing.
Over the years, the company has expanded its manufacturing capabilities significantly. During the year 2019-20, installed capacity of rifamycin-S was increased to 90 mtpa and expansion of rifampicin was achieved to the maximum capacity of 120 mtpa. It also commenced operations of its new pharmaceutical division and launched a wide range of anti-tuberculosis products and other antibiotics in 2022.
Gujarat Themis Biosyn has demonstrated strong financial performance across multiple metrics. Gujarat Themis Biosyn Ltd has a market capitalization of ₹2,954 Crore. The company's financial health is further reinforced by its debt-free status, with the Company being almost debt free.
The company's recent financial performance reflects both challenges and strengths in different periods. Gujarat Themis Biosyn Ltd's revenue fell -0.25% since last year same period to ₹39.76 Crore in Q3 FY2024-2025. On a quarterly growth basis, Gujarat Themis Biosyn Ltd has generated 13.47% jump in its revenue since last 3-months.
In terms of profitability, the company showed mixed results. Gujarat Themis Biosyn Ltd's net profit fell -0.31% since last year same period to ₹12.97 Crore in Q3 FY2024-2025. On a quarterly growth basis, Gujarat Themis Biosyn Ltd has generated 22.71% jump in its net profits since last 3-months.
For the Q1 FY25 period, the company faced some headwinds. Net profit of Gujarat Themis Biosyn declined 25.28% to ₹13.24 Crore in the quarter ended June 2024, as against ₹17.72 Crore during the previous quarter ended June 2023. Sales declined 21.70% to ₹38.83 Crore in the quarter ended June 2024, as against ₹49.59 Crore during the previous quarter ended June 2023.
The company demonstrates excellent operational efficiency and profitability metrics. Gujarat Themis Biosyn's return on equity is 19.6%, and it has net margins of 31.8%. An annual revenue growth of 12% is good, Pre-tax margin of 47% is great, ROE of 29% is exceptional.
The company has shown consistent growth over the longer term. Revenues have been growing at an average rate of 13% per year. Company has delivered good profit growth of 56.0% CAGR over the last 5 years.
Gujarat Themis Biosyn's stock has shown significant long-term appreciation despite recent volatility. Last 3 Years: Gujarat Themis Biosyn Ltd share price moved up by 340.70% on BSE. The stock's 52-week performance shows The Gujarat Themis Biosyn Ltd's 52-week high share price is ₹390.00 and 52-week low share price is ₹192.35.
A significant development for Gujarat Themis Biosyn is the proposed merger with Themis Medicare. The Board of Directors of Gujarat Themis Biosyn (GTBL) and Themis Medicare (TML) have approved a Scheme of Amalgamation of Gujarat Themis Biosyn with Themis Medicare. The Scheme is subject to approval of the secured creditors and shareholders of TML and GTBL, the stock exchanges, SEBI, NCLT and other regulatory approvals as may be required. This amalgamation will result in consolidation of businesses and integration of the entire product value chain under a single amalgamated entity, leading to significant synergies.
Gujarat Themis Biosyn maintains strong corporate governance practices with a well-structured board. It is actively managed by Themis Medicare Ltd. (JV company of Gedeon Richter Ltd, Hungary). The company's board includes experienced professionals with Chairman & Non-Executive Dir.: Dinesh S Patel.
The company demonstrates good dividend distribution practices, with Company has been maintaining a healthy dividend payout of 20.8%. Additionally, operational efficiency has improved as evidenced by Company's working capital requirements have reduced from 101 days to 53.3 days.
Gujarat Themis Biosyn Limited represents a specialized pharmaceutical manufacturer with strong fundamentals, debt-free operations, and a strategic focus on anti-tuberculosis drugs and fermentation-based APIs. The company's long-term growth trajectory, combined with its market leadership in specific therapeutic areas, positions it as a significant player in India's pharmaceutical sector.
