Regulatory Approval Or License Win
Expected: CurrentHIGH confidence
What: Commercial Molecules: 14
“Today, we are actually addressing 14 commercial molecules which where Anthem is developed and is now going to participate”
Anthem Biosciences Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +21.5%Weak5w Streak
In , Anthem Biosciences Ltd (Pharma - API & CRAMS) is outperforming Nifty 500 with +21.5% relative strength. Fundamentals: Weak. On a 5-week streak.
Anthem Biosciences Ltd Key Facts
- PE Ratio
- 87.7x
- Market Cap
- ₹44,075 Cr
- PAT Growth YoY
- -25%
- Revenue Growth YoY
- -15%
- OPM
- 37.0%
- RS vs Nifty 500
- +21.5%
Avoid
What's Happening
🚫No earnings growth, no valuation discount — limited upside
🏛️DII reducing — stake down 4.3%
💰Trading 86% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Regulatory Approval Or License Win
CurrentHIGH
2. Operating Leverage Inflection
FY27MEDIUM
3. EBITDA Margin at 41.5% for 9M
MEDIUM
Key Risks
1. Exceptional item of ₹156 crore in Q3 due to new Labor Code notifications
HIGH2. Customer destocking driven by geopolitical tensions and marketplace uncertainty
MEDIUMSector-Specific Signals
Commercial Molecules14+4
Late Phase (Phase 3) Molecules6-4
Early Phase (Phase 1 & 2) Molecules130-1400
Peptide Manufacturing Capacity16 KL
Key Numbers
PAT Growth YoY
-25%
Inflection Down
Revenue YoY
-15%
Inflection Down
Operating Margin
37.0%
+500 bps YoY
PE Ratio
87.7
Current Price
₹785
Fundamental Score
29/100
Weak
3Y PAT CAGR
+4%
Market Cap
44.1K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Anthem Biosciences Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 18, 2026
Operating Leverage Inflection
Expected: FY27MEDIUM confidence
What: Unit-III WIP: ₹55 Cr
Impact: ₹100-150 Cr revenue
“Our idea would be to push this number to say Rs. 100 Cr - Rs. 150 Cr, by which time we would be supplying.”
EBITDA Margin at 41.5% for 9M
MEDIUM confidence
What: EBITDA Margin at 41.5% for 9M
“EBITDA was stronger than ever at Rs. 671 crore, which gave us an EBITDA margin of 41.5%.”
What Are the Key Risks for Anthem Biosciences Ltd?
Earnings deceleration risks from management commentary
Exceptional item of ₹156 crore in Q3 due to new Labor Code notifications
HIGHTrigger: Government notification of four new Labor Codes required a one-time provision.
Impact: PAT impact: ₹156 Cr
Management view: One-time exceptional charge taken in Q3.
Monitor: labor
Customer destocking driven by geopolitical tensions and marketplace uncertainty
MEDIUMTrigger: Anxiety among big pharma and biotech companies regarding supply chain stability.
Management view: Management sees signs of recovery as destocking concludes.
Monitor: geopolitical
What Is Anthem Biosciences Ltd's Management Saying?
Key quotes from recent conference calls
“In terms of growth, we have said that if you look at Anthem's history, our CAGR is 20% odd there for the last 10-15 years. [Previous Revenue Growth guidance]”
“Anthem is not going to do that. Anthem will work. It has developed the technology to make the fermentation fragment as well. [Initiative: Backward Integration for Semaglutide]”
“the government notified four new Labor Codes and as a result we had to take an exceptional of Rs. 25.4 crore. [Risk (labor): HIGH]”
“There has been some definitely because of the general geopolitical tension that we have seen in the last one year [Risk (geopolitical): MEDIUM]”
What Did Anthem Biosciences Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹423 Cr
Why: The quarterly performance was influenced by a higher base in the previous financial year and general destocking in the marketplace.
Revenue for the quarter was ₹423 crore, with CRDMO contributing ₹333 crore and specialty ingredients ₹90 crore.
EBITDA
₹191 Cr
Margin 41.8%
Why: Margins improved due to backward integration, specifically discontinuing China supplies and manufacturing intermediates in-house.
EBITDA margin remains high at 41.8%, supported by ₹33.5 crore in other income.
PAT
₹93 Cr
Why: PAT was impacted by a one-time exceptional item of ₹156 crore related to new Labor Code notifications.
The exceptional item significantly reduced the reported PAT for the quarter to ₹93 crore.
Other Highlights
• 9M FY26 consolidated revenue reached ₹1,513 crore.
• Exceptional item of ₹25.4 crore taken in 9M due to new Labor Codes.
• Other income of ₹105 crore in 9M includes forex gains and RoDTEP.
What Sector Metrics Matter for Anthem Biosciences Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Commercial Molecules
14
YoY +4QoQ +2
Why: Four new molecules moved from late-phase to commercial status during the year.
Late Phase (Phase 3) Molecules
6
YoY -4QoQ 0
Why: Four molecules transitioned to commercial status, leaving 6 in the late-phase pipeline.
Early Phase (Phase 1 & 2) Molecules
130-140
YoY 0QoQ 0
Why: The early-stage pipeline remains robust and steady.
Peptide Manufacturing Capacity
16 KL
Why: Current capacity at Neo Anthem facility.
Unit-2 Capacity Utilisation
75%
Why: Excluding the newly commissioned CP7 block which is yet to be utilized.
Inventory Days
105
YoY Lower
Why: Reduction in inventory due to in-house manufacturing of intermediates and customer requests for lower stock levels.
R&D Services % of Revenue
9.8%
Why: Contribution for the half-year period.
Unit-4 Planned Capacity
400 KL
Why: Planned expansion to double existing capacities.
What Is Anthem Biosciences Ltd's Management Guidance?
Forward-looking targets from management for FY26
Revenue Growth Target
15%
OPM Guidance
36–37%
Capex Plan
₹1000 Cr
Revenue Outlook
15% to 16%
Margin Outlook
REAFFIRMED
Capex Plan
₹1,000 Cr
Unit-IV Phase 1 expansion
Management Tone: BULLISH
Guidance Changes
LOWERED
Revenue Growth: 20% plus → 15% to 16%
How Fast Is Anthem Biosciences Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | -15% | +14% | Inflection Down |
| PAT (Net Profit) | -25% | +4% | Inflection Down |
| OPM | 37.0% | +500 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
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Frequently Asked Questions: Anthem Biosciences Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Anthem Biosciences Ltd's latest quarterly results?
Anthem Biosciences Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: -25.0% (inflecting downward)
- Revenue Growth YoY: -15.1%
- Operating Margin: 37.0% (volatile)
Is Anthem Biosciences Ltd's profit growing or declining?
Anthem Biosciences Ltd's profit is declining with an inflecting downward trend.
- PAT Growth YoY: -25.0% (latest quarter)
- PAT Growth QoQ: -46.2% (sequential)
- 3-Year PAT CAGR: +3.6%
- Trend: Inflecting downward — consistent growth pattern
What is Anthem Biosciences Ltd's revenue growth trend?
Anthem Biosciences Ltd's revenue growth trend is inflecting downward.
- Revenue Growth YoY: -15.1%
- Revenue Growth QoQ: -23.1% (sequential)
- 3-Year Revenue CAGR: +14.4%
How is Anthem Biosciences Ltd's operating margin trending?
Anthem Biosciences Ltd's operating margin is volatile.
- Current OPM: 37.0%
- OPM Change YoY: +5.0% basis points
- OPM Change QoQ: -3.0% basis points
What is Anthem Biosciences Ltd's 3-year profit and revenue CAGR?
Anthem Biosciences Ltd's long-term compounding rates
- 3-Year Profit CAGR: +3.6%
- 3-Year Revenue CAGR: +14.4%
Is Anthem Biosciences Ltd's growth accelerating or decelerating?
Anthem Biosciences Ltd's earnings growth is inflecting downward with weakening on a sequential basis.
- YoY Acceleration: -31.8% bps
- Sequential Acceleration: -73.4% bps
Is Anthem Biosciences Ltd overvalued or undervalued?
Anthem Biosciences Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 87.7x
- Price-to-Book: 16.0x
What is Anthem Biosciences Ltd's current PE ratio?
Anthem Biosciences Ltd's current PE ratio is 87.7x.
- Current PE: 87.7x
- Market Cap: 44.1K Cr
How does Anthem Biosciences Ltd's valuation compare to its history?
Anthem Biosciences Ltd's current PE is 87.7x.
- Current PE: 87.7x
- Valuation Assessment: Significantly Overvalued
What is Anthem Biosciences Ltd's price-to-book ratio?
Anthem Biosciences Ltd's price-to-book ratio is 16.0x.
- Price-to-Book (P/B): 16.0x
- Book Value per Share: ₹49
- Current Price: ₹785
Is Anthem Biosciences Ltd a fundamentally strong company?
Anthem Biosciences Ltd is rated Weak with a fundamental score of 29/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: -15.1% (10% weight)
- PAT Growth YoY: -25.0% (10% weight)
- PAT Growth QoQ: -46.2% (10% weight)
- Margins stable (10% weight)
Is Anthem Biosciences Ltd debt free?
Anthem Biosciences Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹108 Cr
What is Anthem Biosciences Ltd's return on equity (ROE) and ROCE?
Anthem Biosciences Ltd's return ratios over recent years
- FY2023: ROCE 28.0%
- FY2024: ROCE 24.0%
- FY2025: ROCE 28.0%
Is Anthem Biosciences Ltd's cash flow positive?
Anthem Biosciences Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹418 Cr
- Free Cash Flow (FCF): ₹266 Cr
- CFO/PAT Ratio: 93% (strong cash conversion)
What is Anthem Biosciences Ltd's dividend yield?
Anthem Biosciences Ltd currently does not pay a significant dividend (yield 0.00%).
- Dividend Yield: 0.00%
- Current Price: ₹785
Who holds Anthem Biosciences Ltd shares — promoters, FII, DII?
Anthem Biosciences Ltd's shareholding pattern (Mar 2026)
- Promoters: 74.7%
- FII (Foreign): 1.3%
- DII (Domestic): 11.6%
- Public: 12.5%
Is promoter holding increasing or decreasing in Anthem Biosciences Ltd?
Anthem Biosciences Ltd's promoter holding has decreased recently.
- Current Promoter Holding: 74.7% (Mar 2026)
- Previous Quarter: 74.7% (Dec 2025)
- Change: -0.02% (decreasing — worth monitoring)
How long has Anthem Biosciences Ltd been outperforming Nifty 500?
Anthem Biosciences Ltd has been outperforming Nifty 500 for 5 consecutive weeks, indicating building momentum.
Is Anthem Biosciences Ltd a new momentum entry or an established outperformer?
Anthem Biosciences Ltd is an established outperformer with 5 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Anthem Biosciences Ltd?
Anthem Biosciences Ltd has 3 key growth catalysts identified from recent earnings analysis
- Regulatory Approval Or License Win — Four new molecules were approved and commercialized recently, moving from the late-phase pipeline.
- Operating Leverage Inflection — Unit-III is currently in pilot scale but is expected to ramp up as commercial molecules enter the facility.
- EBITDA Margin at 41.5% for 9M — Structural improvement from backward integration and discontinuing China-sourced intermediates.
What are the key risks in Anthem Biosciences Ltd?
Anthem Biosciences Ltd has 2 key risks worth monitoring
- [HIGH] Exceptional item of ₹156 crore in Q3 due to new Labor Code notifications — Government notification of four new Labor Codes required a one-time provision.
- [MEDIUM] Customer destocking driven by geopolitical tensions and marketplace uncertainty — Anxiety among big pharma and biotech companies regarding supply chain stability.
What did Anthem Biosciences Ltd's management say in the latest earnings call?
In Q3 FY26, Anthem Biosciences Ltd's management highlighted
- "In terms of growth, we have said that if you look at Anthem's history, our CAGR is 20% odd there for the last 10-15 years. [Previous Revenue Growth g..."
- "Anthem is not going to do that. Anthem will work. It has developed the technology to make the fermentation fragment as well. [Initiative: Backward In..."
- "the government notified four new Labor Codes and as a result we had to take an exceptional of Rs. 25.4 crore. [Risk (labor): HIGH]"
What is Anthem Biosciences Ltd's management guidance for growth?
Anthem Biosciences Ltd's management has provided the following forward guidance for FY26
- Revenue growth target: 15%
- OPM guidance: 36–37%
- Capex plan: ₹1000 Cr for Unit-IV Phase 1 expansion
- Management tone: bullish
- Milestone: [LOWERED] Revenue Growth: 20% plus → 15% to 16%
What sector-specific metrics matter most for Anthem Biosciences Ltd?
Anthem Biosciences Ltd's most important sub-sector-specific KPIs from the latest concall
- Commercial Molecules: 14 (YoY +4) (QoQ +2) — Four new molecules moved from late-phase to commercial status during the year.
- Late Phase (Phase 3) Molecules: 6 (YoY -4) (QoQ 0) — Four molecules transitioned to commercial status, leaving 6 in the late-phase pipeline.
- Early Phase (Phase 1 & 2) Molecules: 130-140 (YoY 0) (QoQ 0) — The early-stage pipeline remains robust and steady.
- Peptide Manufacturing Capacity: 16 KL — Current capacity at Neo Anthem facility.
- Unit-2 Capacity Utilisation: 75% — Excluding the newly commissioned CP7 block which is yet to be utilized.
- Inventory Days: 105 (YoY Lower) — Reduction in inventory due to in-house manufacturing of intermediates and customer requests for lower stock levels.
Is Anthem Biosciences Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Anthem Biosciences Ltd may be worth studying
- Cash flow is positive — CFO ₹418 Cr
What is the investment thesis for Anthem Biosciences Ltd?
Anthem Biosciences Ltd investment thesis summary:
Research Signals (Bull Case)
- Growth catalyst: Regulatory Approval Or License Win
Risk Factors (Bear Case)
- Appears significantly overvalued
- Key risk: Exceptional item of ₹156 crore in Q3 due to new Labor Code notifications
What is the future outlook for Anthem Biosciences Ltd?
Anthem Biosciences Ltd's forward outlook based on current data signals
- Earnings Trend: inflecting downward
- Revenue Trend: inflecting downward
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: Regulatory Approval Or License Win
- Key Risk: Exceptional item of ₹156 crore in Q3 due to new Labor Code notifications
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.