Anlon Healthcare Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Anlon Healthcare Ltd trades at ₹14.7, in a confirmed uptrend and 13 weeks into that stage. That is +10.8% against its own 200-day average. It sits at 72% of a 52-week range of ₹9 to ₹17. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks.

Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹14.7 it trades +10.8% versus its 200-day average and sits at 72% of its 52-week range (₹9–₹17).

Against the market, two honest reads. Cumulative: over the last 11 months the stock moved +60% while the NIFTY 500 moved +1% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 20 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 43rd percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Anlon Healthcare Ltd trades at 28.0× P/E, mid-range by its own standards (43rd percentile). Its long-run median P/E is 28.1×, measured across 0.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 28.0× is mid-range by its own standards (43rd percentile), against a long-run median of 28.1× measured over 0.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.

🚨 Why the multiple sits where it does: over the past year annual EPS moved +5.9% against a +59.8% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Anlon Healthcare Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

51.9/100 — rank 3 of 5 in Chemicals - Speciality · 53% evidence confidence

Anlon Healthcare Ltd scores 51.9 out of 100 against the 5 companies it is compared with in Chemicals - Speciality, ranking 3. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 19.7 + 12.2 + 10 + 10 = 51.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Anlon Healthcare Ltd reported ₹51.0 Cr of revenue in the Mar 26 quarter, +4.1% year on year. That is the 3rd straight quarter of year-on-year growth. Over 5 years it has compounded at 60.8% a year. The last full year, FY26, came in at ₹172 Cr. The last four reported quarters add to ₹173 Cr.

Anlon Healthcare Ltd reported ₹51.0 Cr of revenue in the Mar 26 quarter, +4.1% year on year. That is the 3rd straight quarter of year-on-year growth. Over 5 years it has compounded at 60.8% a year. The last full year, FY26, came in at ₹172 Cr. The last four reported quarters add to ₹173 Cr.

FY26 revenue came in at ₹172 Cr (+43.3% on the year), capping 5 years at 60.8% compound. The latest quarter (Mar 26) printed ₹51.0 Cr, +4.1% year on year — the 3rd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +98.2% growth against the decade's 60.8% — the current year is running faster than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 30.0% this quarter (−5.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Anlon Healthcare Ltd's operating margin is 30.0% in the Mar 26 quarter, −5.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 6 fiscal years the operating margin has ranged −32.0% to 28.0%. The current quarter is running above every full year in that window.

Anlon Healthcare Ltd's operating margin is 30.0% in the Mar 26 quarter, −5.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 6 fiscal years the operating margin has ranged −32.0% to 28.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 30.0%, −5.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −32.0%–28.0%, and FY26's 28.0% is the top of that band — a record year.

🚨 Why the margin moved: operating margin went −5.1 pp year on year while gross margin went +1.7 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

→ Margins slipped — did that reach the bottom line? Next: profit −35.3% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Anlon Healthcare Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter, −35.3% year on year. Full-year FY26 profit was ₹29.0 Cr. That is 21.6% of the quarter's revenue. The same quarter a year earlier earned ₹17.0 Cr. 1 of the last 8 reported quarters were loss-making.

Anlon Healthcare Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter, −35.3% year on year. Full-year FY26 profit was ₹29.0 Cr. That is 21.6% of the quarter's revenue. The same quarter a year earlier earned ₹17.0 Cr. 1 of the last 8 reported quarters were loss-making.

Mar 26 profit was ₹11.0 Cr, −35.3% year on year. On the full year, FY26 printed ₹29.0 Cr (+38.1%).

🚨 Why profit moved: revenue contributed +4.1% and the margin −5.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +67.6% vs revenue +98.2%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: −175% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −175% of Anlon Healthcare Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−79.0 Cr of operating cash against ₹29.0 Cr of profit. After ₹37.0 Cr of capital spending, ₹−116 Cr was left as free cash.

FY26: operating cash of ₹−79.0 Cr against reported profit of ₹29.0 Cr, leaving free cash of ₹−116 Cr after ₹37.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −175% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −175%: the cash cycle stretched 75 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 75 days — the next section's job is to find where the cash is stuck.

→ So follow the cash to where it goes. Next: the 467-day cycle, in money terms.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Anlon Healthcare Ltd's cash conversion cycle runs 467 days in FY26, up from 392 days in FY21. Capital spending ran ₹38.0 Cr over the last 3 years. At FY26 sales of ₹172 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹220 Cr sits inside the business at any moment.

FY26: debtors at 220 days, inventory at 393 days — roughly 12.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 467 days, looser than FY21's 392.

The full loop: cash goes out to suppliers and production on day 0; stock waits 393 days to sell; customers pay about 220 days after that; and suppliers themselves are paid at 147 days — netting out to the 467-day cycle.

In money terms: at FY26 sales of ₹172 Cr, each day of the cycle holds about ₹0.5 Cr — so the 467-day loop keeps roughly ₹220 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹38.0 Cr over the last 3 fiscal years against ₹6.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 21% and the ROIC − WACC spread is +0.0 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Anlon Healthcare Ltd earns a ROCE of 21% in FY26. That is up from a trough of 7% in FY22. Return on invested capital clears the cost of that capital by +0.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 16.9% net margin on 0.46× asset turns.

FY26 ROCE is 21%, recovered from a FY22 trough of 7% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 16.9% net margin × 0.46× asset turns × 1.63× balance-sheet leverage ≈ 12.7% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 12.0% − 12.0% = a +0.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.19.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Anlon Healthcare Ltd carries total debt of ₹44.0 Cr against shareholder equity of ₹255 Cr as of Mar 26, a debt-to-equity of 0.17 — effectively unlevered. On the annual view that ratio went from 0.84 in FY25 to 0.17 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹44.0 Cr against shareholder equity of ₹255 Cr — a debt-to-equity of 0.17. On the annual view, debt-to-equity went from 0.84 (FY25) to 0.17 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Anlon Healthcare Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Anlon Healthcare Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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