Themis Medicare Ltd is an established Indian pharmaceutical company that was incorporated in 1969 and began operations as Themis Chemicals. The company was taken over by a group of entrepreneurs who also held interests in Andhra Synthetics and Antibiotics, and its name was officially changed to Themis Medicare Limited in 2001.
The company is primarily engaged in the manufacturing of pharmaceuticals and medicinal chemicals, including both formulations and active pharmaceutical ingredients (APIs). Its product portfolio spans various therapeutic areas such as antiseptics, anti-tuberculosis, anti-malarial, anti-cholesterol, pain management, anti-infectives, haematinics, health and nutrition, anaesthesia, gynecology, and orthopedics.
Themis Medicare manufactures and sells synthetic bulk drugs and formulations, which collectively account for 60% of their total turnover. A significant portion of this (60%) comes from anti-tuberculosis bulk drugs and formulations, where the company is rated fourth in terms of turnover within this segment. The company develops and manufactures pharmaceutical products across key segments like anti-infectives, pain management, and critical care.
Themis Medicare operates three manufacturing facilities and serves over 40 countries internationally. The company's registered office is located in Plot No 69 A GIDC Industrial Estate, Vapi, Valsad, Gujarat, while its headquarters are situated in Mumbai, India. The company has a total of 1,541 employees.
The company's market capitalization stands at ₹1,189.80 Crore as of 30th April 2025. In the first quarter of FY25 (March 2025), the company reported revenue of ₹71.70 Crore and a net loss of ₹-9.66 Crore. For the full financial year 2024, Themis Medicare Ltd recorded a total revenue of approximately ₹405.51 Crore.
Key financial ratios include:
- P/E ratio: 27.34
- P/B ratio: 3.15
- Dividend yield: 0.39%
- Promoter holding: 67.2%
For the quarter ended September 2024, the company reported a net profit of ₹14.29 crore, representing a 26.24% increase from ₹11.32 crore in the previous year, with sales rising 11.67% to ₹117.01 crore. However, the company's net profit declined significantly by 92.94% to ₹0.52 crore in the quarter ended December 2024, although sales rose 13.70% to ₹93.81 crore.
Over the last five years, the company's revenue has demonstrated a robust yearly growth rate of 16.52%, surpassing the industry average of 9.04%. The company's Return on Capital Employed (ROCE) averaged 13.4% from FY ending March 2023 to 2025, with a median of 11.1%.
The stock's 52-week high is ₹317 and the 52-week low is ₹115. Themis Medicare Ltd belongs to the Health Care sector and Pharmaceuticals sub-sector. Over the past year, the stock underperformed the Indian Pharmaceuticals industry, which returned 13.1%, and also underperformed the broader Indian Market, which returned 2.2%.
The company is chaired by Dinesh S Patel and has secured a compliance certificate from SEBI for Q1 2025, confirming the processing and listing of dematerialized securities. A notable recent development includes the withdrawal of the merger scheme between Gujarat Themis Biosyn and Themis Medicare in June 2025, allowing the company to streamline its focus on core businesses. The company also declared a dividend of ₹0.50 in the quarter ending March 2024.
Themis Medicare has a significant international footprint, including ventures into exports, notably for the antibacterial drug fumagillin with a buy-back agreement in place. The company is actively collaborating with PharmogradMoscow to expand its presence in the Russian Federation. To further its global reach, the company established a wholly owned subsidiary, Themis Medicare Singapore Pte. Ltd., in 2002, which became operational during 2002-03.
