Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Bliss GVS Pharma Ltd

BLISSGVS
Pharma - Formulators

Bliss GVS Pharma Ltd's price has outrun its earnings. +200.8% in a year against EPS +52.6% — the market is paying now for delivery later.

The sharpest disagreement: the price moved +200.8% in a year while annual EPS moved +52.6% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is in a confirmed uptrend (55 weeks in) while the P/E sits at the 99th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +117.6% year on year, and 113% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Stage
Turning around
partial read
Price
₹484
+200.8% 1Y
P/E
37.4×
99th pctile
of its own 10-year range
Revenue (Mar 26)
₹257 Cr
+29.8% YoY
Profit (Mar 26)
₹37.0 Cr
+117.6% YoY
Operating margin
17.0%
+6.0 pp YoY
ROCE
17%
FY26
Cash conversion
113%
of profit, last 3 FY
Withheld from this page: Part of this page is deliberately not drawn: its two data sources disagree by up to 73% on reported income across 15 comparable periods, so nothing from the second source is placed here — the quarterly PEG curve, the quarterly return curves, the annual return-on-invested-capital overlay, the total-debt and debt-to-equity series and the F-score, the Z-score and the return-on-invested-capital reading are absent for that reason. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data. The quarterly history also begins where the primary source begins: 5 earlier quarters the second source carries are not spliced in front of it. Extending a reported profit series is stricter than showing a ratio chart — it needs a source that has been checked.
01 · Price story

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.

Bliss GVS Pharma Ltd trades at ₹484, in a confirmed uptrend and 55 weeks into that stage. That is +68.5% against its own 200-day average. It sits at 90% of a 52-week range of ₹128 to ₹524. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 37 straight weeks.

Today the stock is in a confirmed uptrend — week 55 of stage 2, confirmed. At ₹484 it trades +68.5% versus its 200-day average and sits at 90% of its 52-week range (₹128–₹524).

Jul 26: ₹484 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+68.5% versus the 200-day line, week 55 of stage 2
Price50-day avg200-day avg
S2S2S4S2₹560₹430₹301₹171₹41.6₹484₹287Jul 23Apr 24Feb 25Nov 25Jul 26
S2S2S4S2₹560₹430₹301₹171₹41.6₹484₹287Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (549 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Feb 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +214% while the NIFTY 500 moved +280% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 37 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 99th percentile of its own range.

02 · Valuation

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.

Bliss GVS Pharma Ltd trades at 37.4× P/E, about the priciest it has ever traded. Its long-run median P/E is 15.8×, measured across 10.4 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 37.4× is about the priciest it has ever traded, against a long-run median of 15.8× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 37.4× vs a 15.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 34× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the priciest it has ever traded
P/EMedianEPS (TTM) (quarterly)
36.5×₹13.528.9×₹10.121.4×₹6.713.9×₹3.46.3×₹0.0×34.40×₹13Feb 16Oct 18May 21Jan 24Jul 26
36.5×₹13.528.9×₹10.121.4×₹6.713.9×₹3.46.3×₹0.0×34.40×₹13Feb 16May 21Jul 26
P/E
37.4×
99th percentile of 10y

🚨 Why the multiple sits where it does: over the past year annual EPS moved +52.6% against a +200.8% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +34.0%/yr price move, ~+13.4%/yr came from earnings growth and ~+20.6 pp from the multiple (expanding); over 10y, of the +16.4%/yr price move, ~+3.6%/yr came from earnings growth and ~+12.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

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

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 73% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ 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.

03 · Stage: Turning around

Stage: Turning around 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).

Bliss GVS Pharma Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −20.0% at the trough to +48.4% off a 5-quarter-old trough, ROCE lifting at 17.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
16%91%13%58%10%25%7.0%−8.6%4.0%−42%%%14.3%48.4%52.6%Jun 23Sep 24Mar 26
16%91%13%58%10%25%7.0%−8.6%4.0%−42%%%14.3%48.4%52.6%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
17%16%15%13%12%%17%FY23FY24FY26
17%16%15%13%12%%17%FY23FY24FY26
Revenue growth
Steady high
latest +14.3% · span +4.8% to +15.2%
Profit growth
Rising
latest +48.4% · span −22.5% to +66.7%
EPS growth
Rising
latest +52.6% · span −32.7% to +82.2%
ROCE
Rising
latest 17.0% · span 12.0%–17.0%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

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.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +14.4% in FY26, profit +50.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
51%330%31%221%11%111%−8.8%0.0%−29%−108%%%14.4%50%FY16FY21FY26
51%330%31%221%11%111%−8.8%0.0%−29%−108%%%14.4%50%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+14.3%) with the last 8 annualized (+9.6%).
revenue accelerating, profit accelerating
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
16%91%13%58%10%25%7.0%−8.6%4.0%−42%%%14.3%48.4%Jun 23Sep 24Mar 26
16%91%13%58%10%25%7.0%−8.6%4.0%−42%%%14.3%48.4%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+14.4%+7.2%+9.9%+5.4%
Profit+50.0%+20.6%+12.8%+3.0%
EPS+52.6%+21.5%+13.0%+4.3%
Share price+200.8%+74.8%+34.0%+16.4%
Revenue YoY (Mar 26)
+29.8%
latest quarter vs a year ago
Profit YoY (Mar 26)
+117.6%
latest quarter vs a year ago
Revenue 10y
5.4%
long-run compound pace

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

04 · 4-Factor Sector Score

4-Factor Sector Score

69.5/100 — rank 4 of 43 in Pharma - Formulators · 79% evidence confidence

Bliss GVS Pharma Ltd scores 69.5 out of 100 against the 43 companies it is compared with in Pharma - Formulators, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 27.4 + 15.2 + 6.9 + 20 = 69.5. 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.

05 · Revenue

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

Bliss GVS Pharma Ltd reported ₹257 Cr of revenue in the Mar 26 quarter, +29.8% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 5.4% a year. The last full year, FY26, came in at ₹927 Cr. The last four reported quarters add to ₹926 Cr.

Bliss GVS Pharma Ltd reported ₹257 Cr of revenue in the Mar 26 quarter, +29.8% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 5.4% a year. The last full year, FY26, came in at ₹927 Cr. The last four reported quarters add to ₹926 Cr.

FY26 revenue came in at ₹927 Cr (+14.4% on the year), capping 10 years at 5.4% compound. The latest quarter (Mar 26) printed ₹257 Cr, +29.8% year on year — the 4th consecutive quarter of year-over-year growth.

FY26 revenue ₹927 Cr (+14.4% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
5.4% a year over 10 years
RevenueYoY growth
1.0k51%75131%50111%250−8.8%0−29%₹ Cr%₹92714.4%FY16FY21FY26
1.0k51%75131%50111%250−8.8%0−29%₹ Cr%₹92714.4%FY16FY21FY26
Mar 26: ₹257 Cr (+29.8% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
4th straight quarter of growth
Revenue (quarterly)YoY growth
27857%20841%13925%699.1%0−6.8%₹ Cr%₹25729.8%Jun 23Sep 24Mar 26
27857%20841%13925%699.1%0−6.8%₹ Cr%₹25729.8%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +14.5% growth against the decade's 5.4% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +14.3% over the last 4 quarters against +9.6%/yr over the last 8 — accelerating; TTM profit +48.4% vs +29.1%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 17.0% this quarter (+6.0 pp YoY).

06 · Operating margin

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.

Bliss GVS Pharma Ltd's operating margin is 17.0% in the Mar 26 quarter, +6.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 16.0% to 29.0%. The current quarter sits inside that band.

Bliss GVS Pharma Ltd's operating margin is 17.0% in the Mar 26 quarter, +6.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 16.0% to 29.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 17.0%, +6.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 16.0%–29.0%.

Why the margin moved: operating margin went +6.6 pp year on year while gross margin went +6.1 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 18.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 16.0–29.0% band over 13 years
operating marginYoY change (pp)
30%4.8%26%1.9%23%−1.0%19%−3.9%15%−6.8%%%18%2%FY14FY20FY26
30%4.8%26%1.9%23%−1.0%19%−3.9%15%−6.8%%%18%2%FY14FY20FY26
Mar 26: 17.0% operating margin (+6.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
27%13%23%7.0%19%1.5%14%−4.0%9.8%−9.5%%%17%6%Jun 23Sep 24Mar 26
27%13%23%7.0%19%1.5%14%−4.0%9.8%−9.5%%%17%6%Jun 23Sep 24Mar 26

→ Margins held — did that reach the bottom line? Next: profit +117.6% in the latest quarter.

07 · Net profit

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

Bliss GVS Pharma Ltd earned ₹37.0 Cr of net profit in the Mar 26 quarter, +117.6% year on year. Full-year FY26 profit was ₹135 Cr. The 10-year compound rate is 3.0%. That is 14.4% of the quarter's revenue. The same quarter a year earlier earned ₹17.0 Cr. 1 of the last 12 reported quarters were loss-making.

Bliss GVS Pharma Ltd earned ₹37.0 Cr of net profit in the Mar 26 quarter, +117.6% year on year. Full-year FY26 profit was ₹135 Cr. The 10-year compound rate is 3.0%. That is 14.4% of the quarter's revenue. The same quarter a year earlier earned ₹17.0 Cr. 1 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹37.0 Cr, +117.6% year on year. On the full year, FY26 printed ₹135 Cr (+50.0%), and the 10-year compound rate is 3.0%.

FY26 profit ₹135 Cr (+50.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
3.0% a year over 10 years
Net profitYoY growth
146259%109171%7383%36−5.1%0−93%₹ Cr%₹13550%FY16FY21FY26
146259%109171%7383%36−5.1%0−93%₹ Cr%₹13550%FY16FY21FY26
Mar 26: ₹37.0 Cr (+117.6% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
48148%3437%20−75%5−186%−9−297%₹ Cr%₹37117.6%Jun 23Sep 24Mar 26
48148%3437%20−75%5−186%−9−297%₹ Cr%₹37117.6%Jun 23Sep 24Mar 26

Why profit moved: revenue contributed +29.8% and the margin +6.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +56.3% vs revenue +14.5%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 113% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

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 113% of Bliss GVS Pharma Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹139 Cr of operating cash against ₹135 Cr of profit. After ₹71.0 Cr of capital spending, ₹68.0 Cr was left as free cash.

FY26: operating cash of ₹139 Cr against reported profit of ₹135 Cr, leaving free cash of ₹68.0 Cr after ₹71.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 113% of profit.

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

FY26: CFO ₹139 Cr vs profit ₹135 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
113% of 3-year profit arrived as cash
Operating cashNet profitFree cash
31721511310−92₹ Cr₹139₹135₹68FY16FY21FY26
31721511310−92₹ Cr₹139₹135₹68FY16FY21FY26
FY26: CFO = 103% of profit (three-year rate 113%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
322%241%160%79%0.0%%103%FY16FY21FY26
322%241%160%79%0.0%%103%FY16FY21FY26

Why conversion sits at 113%: the cash cycle tightened 77 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 1.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹171 Cr of building over 3 years.

09 · Where the cash goes

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).

Bliss GVS Pharma Ltd's cash conversion cycle runs 244 days in FY26, down from 321 days in FY21. Capital spending ran ₹171 Cr over the last 3 years. At FY26 sales of ₹927 Cr each day of that cycle holds about ₹2.5 Cr, so roughly ₹620 Cr sits inside the business at any moment.

FY26: debtors at 204 days, inventory at 129 days — roughly 4.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 244 days, tighter than FY21's 321.

The full loop: cash goes out to suppliers and production on day 0; stock waits 129 days to sell; customers pay about 204 days after that; and suppliers themselves are paid at 89 days — netting out to the 244-day cycle.

In money terms: at FY26 sales of ₹927 Cr, each day of the cycle holds about ₹2.5 Cr — so the 244-day loop keeps roughly ₹620 Cr sitting inside the business at any moment.

FY26: a 244-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−77 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
34326318410424days244d129d204d89dFY14FY17FY20FY23FY26
34326318410424days244d129d204d89dFY14FY20FY26

On the investment side: capital spending of ₹171 Cr over the last 3 fiscal years against ₹88.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹6.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹71.0 Cr, work-in-progress ₹6.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
11747−24−94−164₹ Cr₹71₹6FY16FY18FY21FY23FY26
11747−24−94−164₹ Cr₹71₹6FY16FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 17%.

10 · Return on capital

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.

Bliss GVS Pharma Ltd earns a ROCE of 17% in FY26. That is up from a trough of 12% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 14.6% net margin on 0.62× asset turns.

FY26 ROCE is 17%, recovered from a FY21 trough of 12% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 14.6% net margin × 0.62× asset turns × 1.25× balance-sheet leverage ≈ 11.3% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

FY26: ROCE 17% Return on capital employed by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY21's 12%
ROCEWACC
33%27%22%16%10%%17%FY14FY17FY20FY23FY26
33%27%22%16%10%%17%FY14FY20FY26

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 73% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.02.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Bliss GVS Pharma Ltd carries ₹22.0 Cr of borrowings against ₹1,193 Cr of equity in FY26, a debt-to-equity of 0.02. Operating profit covers the interest bill 14×. Over 5 years borrowings went from ₹122 Cr to ₹22.0 Cr. Capital spending ran ₹171 Cr across the last 3 of those years.

FY26: borrowings of ₹22.0 Cr against equity of ₹1,193 Cr — a debt-to-equity of 0.02. Operating profit covers the interest bill 14×. Over 5 years borrowings went from ₹122 Cr to ₹22.0 Cr while capital spending ran ₹171 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

FY26: borrowings ₹22.0 Cr at 0.02× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 13-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
debt is falling while the business grows
BorrowingsDebt-to-equity
2430.6×1820.5×1220.3×610.1×00.0×₹ Cr×₹220.02×FY14FY17FY20FY23FY26
2430.6×1820.5×1220.3×610.1×00.0×₹ Cr×₹220.02×FY14FY20FY26

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 73% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 5.2 points over 8 quarters.

12 · Ownership

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.

Foreign institutions cut 5.2 points of Bliss GVS Pharma Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 8.1% of the company. Domestic institutions moved +2.9 points over the same window, to 9.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −5.2 points over 8 quarters to 8.1%; Domestic institutions: +2.9 points over 8 quarters to 9.5%; Promoters: +0.1 points over 8 quarters to 35.0%.

Why the register moved: rotation — foreign institutions −5.2 points against domestic institutions +2.9 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

Fiscal-year ends: promoters +0.4 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
53%40%27%14%1.5%%35.4%10.4%5.0%49.1%Mar 24Mar 25Mar 26
53%40%27%14%1.5%%35.4%10.4%5.0%49.1%Mar 24Mar 25Mar 26
Foreign institutions cut 5.2 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
53%40%27%14%1.5%%35.0%8.1%9.5%47.5%Jun 23Dec 24Jun 26
53%40%27%14%1.5%%35.0%8.1%9.5%47.5%Jun 23Dec 24Jun 26

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

13 · 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.

Bliss GVS Pharma Ltd: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

The safety line in one sentence: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute.

Related companies · same sector · Pharma - Formulators Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Bliss GVS Pharma Ltd this page37.4×₹4,927 CrTurning around
Sun Pharmaceutical Industries Ltd37.5×₹4.7L CrImproving
Torrent Pharmaceuticals Ltd86.1×₹1.9L CrConsistent
Cipla Ltd31.8×₹1.1L CrDeteriorating
Zydus Lifesciences Ltd20.4×₹1.1L CrConsistent
Lupin Ltd19.1×₹1.1L CrConsistent
Mankind Pharma Ltd51.4×₹1L CrTurning around
Dr Reddys Laboratories Ltd29.8×₹96,130 CrDeteriorating
Aurobindo Pharma Ltd25.1×₹88,979 CrMixed
Biocon Ltd182.0×₹70,672 CrDeteriorating
Alkem Laboratories Ltd27.6×₹67,357 CrMixed
Glenmark Pharmaceuticals Ltd21.0×₹61,858 CrNo read
Ipca Laboratories Ltd37.9×₹44,720 CrConsistent
Ajanta Pharma Ltd37.3×₹42,097 CrConsistent
J B Chemicals & Pharmaceuticals Ltd53.8×₹38,677 CrTopping out
Emcure Pharmaceuticals Ltd37.7×₹35,679 CrMixed
Wockhardt Ltd106.0×₹30,048 CrNo read
Rubicon Research Ltd102.0×₹25,141 CrNo read
ERIS Lifesciences Ltd30.7×₹19,409 CrTurning around
Caplin Point Laboratories Ltd29.2×₹18,753 CrConsistent
Natco Pharma Ltd11.6×₹16,504 CrTopping out
Alembic Pharmaceuticals Ltd21.4×₹15,678 CrTurning around
Corona Remedies Ltd64.7×₹12,923 CrNo read
Marksans Pharma Ltd26.7×₹11,161 CrConsistent
Akums Drugs & Pharmaceuticals Ltd40.3×₹10,818 CrNo read
Strides Pharma Science Ltd16.6×₹9,402 CrNo read
Suven Life Sciences Ltd₹8,929 CrNo read
FDC Ltd22.6×₹6,723 CrTurning around
RPG Life Sciences Ltd44.3×₹4,858 Cr
Gufic BioSciences Ltd59.2×₹3,799 CrNo read
Kwality Pharmaceuticals Ltd42.5×₹2,886 CrConsistent
Kwality Pharmaceuticals Ltd36.6×₹2,483 CrConsistent
Sai Parenterals Ltd166.0×₹2,366 Cr
Indoco Remedies Ltd₹2,247 CrNo read
Fredun Pharmaceuticals Ltd45.4×₹1,480 CrNo read
Amrutanjan Health Care Ltd22.8×₹1,472 CrMixed
Accent Microcell Ltd27.1×₹1,187 CrNo read
Lincoln Pharmaceuticals Ltd13.2×₹1,162 CrTurning around
Bajaj Healthcare Ltd19.3×₹1,088 CrNo read
Bharat Parenterals Ltd₹990 CrNo read
12 · Frequently asked questions

Frequently asked questions

What is Bliss GVS Pharma Ltd's share price today?

Bliss GVS Pharma Ltd trades at ₹484, +200.8% over the past year. The company is valued at ₹4,927 Cr. The stock sits at 90% of its 52-week range of ₹128–₹524, +68.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 55 weeks in. — as of 24 July 2026.

What were Bliss GVS Pharma Ltd's latest quarterly results?

Bliss GVS Pharma Ltd reported revenue of ₹257 Cr and net profit of ₹37.0 Cr for the Mar 26 quarter. Revenue rose 29.8% and profit rose 117.6% year on year. Earnings per share were ₹3.36. The operating margin was 17.0%, 6.0 pp higher than a year earlier. — as of 24 July 2026.

What is Bliss GVS Pharma Ltd's revenue?

Bliss GVS Pharma Ltd reported revenue of ₹257 Cr in the Mar 26 quarter, +29.8% year on year. For the full FY26 fiscal year, revenue was ₹927 Cr (+14.4%). Over the last 10 years revenue compounded at 5.4% a year. — as of 24 July 2026.

What is Bliss GVS Pharma Ltd's profit?

Bliss GVS Pharma Ltd earned ₹37.0 Cr of net profit in the Mar 26 quarter, +117.6% year on year. Full-year FY26 profit was ₹135 Cr. The operating margin ran 17.0% in the latest quarter. — as of 24 July 2026.

What is Bliss GVS Pharma Ltd's market cap?

Bliss GVS Pharma Ltd's market capitalisation is ₹4,927 Cr at a share price of ₹484. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Bliss GVS Pharma Ltd's P/E ratio?

Bliss GVS Pharma Ltd trades at a P/E of 37.4×, at the 99th percentile of its own 10-year range, against a long-run median of 15.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Bliss GVS Pharma Ltd pay a dividend?

Yes — Bliss GVS Pharma Ltd's dividend payout was 4% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.

Is Bliss GVS Pharma Ltd overvalued?

On its own history, Bliss GVS Pharma Ltd looks expensive against its own history: its P/E of 37.4× sits at the 99th percentile of its 10-year range (long-run median 15.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Bliss GVS Pharma Ltd growing?

Yes — Bliss GVS Pharma Ltd is growing: latest-quarter revenue +29.8% year on year, profit +117.6%, and the margin +6.0 pp at 17.0%. The 10-year compound rates are 5.4% (revenue) and 3.0% (profit). The earnings engine currently reads: improving — as of 24 July 2026.

How is Bliss GVS Pharma Ltd performing?

Bliss GVS Pharma Ltd is in a confirmed uptrend, 55 weeks in. Its latest quarter's revenue rose 29.8% and profit rose 117.6% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 37 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Bliss GVS Pharma Ltd in?

Turning around — profit growth swung from −20.0% at the trough to +48.4% off a 5-quarter-old trough, ROCE lifting at 17.0%. The read comes from the last 12 quarters of growth (revenue growth +14.3% latest, profit growth +48.4% latest, eps growth +52.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Bliss GVS Pharma Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 55 of stage 2), trading +68.5% versus its 200-day average and at 90% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Bliss GVS Pharma Ltd beating the market?

On recent form, yes — Bliss GVS Pharma Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 37 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +214% against the NIFTY 500's +280% — behind the index over the full window. — as of 24 July 2026.

Will Bliss GVS Pharma Ltd's share price go up?

This page publishes no price forecast for Bliss GVS Pharma Ltd. What it measures instead: the share price is ₹484, the price is in a confirmed uptrend 55 weeks in. Its P/E of 37.4× sits at the 99th percentile of its own 10-year range. — as of 24 July 2026.

Who owns Bliss GVS Pharma Ltd?

Promoters hold 35.0% of Bliss GVS Pharma Ltd, foreign institutions 8.1%, domestic institutions 9.5% and the public 47.5% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 5.2 points over 8 quarters. — as of 24 July 2026.

Does Bliss GVS Pharma Ltd have too much debt?

No — Bliss GVS Pharma Ltd's debt-to-equity is 0.02, and operating profit covers the interest bill 14×. FY26 borrowings were ₹22.0 Cr against equity of ₹1,193 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Bliss GVS Pharma Ltd's capex?

Bliss GVS Pharma Ltd spent ₹171 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹71.0 Cr, with ₹6.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Bliss GVS Pharma Ltd's cash flow?

Bliss GVS Pharma Ltd generated ₹139 Cr of operating cash flow in FY26 and ₹68.0 Cr of free cash flow after ₹71.0 Cr of capital spending. Reported profit that year was ₹135 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Bliss GVS Pharma Ltd's profit real cash?

Yes — over the last 3 fiscal years, 113% of Bliss GVS Pharma Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹139 Cr against reported profit of ₹135 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Bliss GVS Pharma Ltd in its business cycle?

Bliss GVS Pharma Ltd's FY26 operating margin was 18.0%, against a 13-year band of 16.0%–29.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 17.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Bliss GVS Pharma Ltd story?

The sharpest disagreement: the price moved +200.8% in a year while annual EPS moved +52.6% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Bliss GVS Pharma Ltd a stock worth studying right now?

This is not investment advice. The machine read: Bliss GVS Pharma Ltd's price has outrun its earnings. +200.8% in a year against EPS +52.6% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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