Themis Medicare Ltd (Pharma - API) — fundamental analysis, earnings data, and key metrics. ROE: 7.7%. This stock is not currently in the Nifty 500 momentum outperformers list.
Deep value thesis based on recent earnings • Updated Feb 22, 2026
Gujarat Themis Biosyn is executing a successful turnaround through capacity expansion and margin optimization, with EBITDA margins expanding to 49.13% in Q3FY26 and revenue growth accelerating to 9.74% YoY.
Verdict
TURNAROUND_IN_PROGRESS
Re-rating catalysts over the next 2-4 quarters • Updated Feb 22, 2026
Expected by March 2026 to resolve market confusion between profitable GTB and distressed THEMISMED
“GTB Q3FY26 results announcement and THEMISMED's promoter-warrant preferential issue contemplation”
Completion by Q1FY27 expected to boost margins by 500-700 bps through vertical integration
“GTB management commentary on strategic initiatives including forward integration into API production”
Targeting D/E ratio below 0.5 by Q2FY27 through land bank monetization
“GTB's strong cash position and management focus on strategic initiatives”
Risks that could prevent re-rating or deepen the value trap
Continued lack of investor education on corporate structure
Management view: GTB management is actively working to clarify corporate structure through announcements and investor communications
Monitor: Stock price divergence between GTB and THEMISMED
Failure to complete promoter-warrant preferential issue by April 2026
Management view: THEMISMED is contemplating promoter-warrant preferential issue to strengthen balance sheet
Monitor: Completion status of promoter capital infusion
Forward-looking targets from management for FY27
Revenue Growth Target
10%
Implied PAT Growth
15%
OPM Guidance
50%
Capex Plan
₹50 Cr
Key Milestones
• Completion of forward integration into API production by Q1FY27
• D/E ratio below 0.5 by Q2FY27
The above analysis is AI-generated from publicly available financial data. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Themis Medicare Ltd's latest quarterly results (Dec 2025) show
Themis Medicare Ltd's price-to-book ratio is 1.7x.
Themis Medicare Ltd's fundamental strength based on key financial ratios
Themis Medicare Ltd has a debt-to-equity ratio of N/A.
Themis Medicare Ltd's return ratios over recent years
Themis Medicare Ltd's operating cash flow is positive (FY2025).
Themis Medicare Ltd's current dividend yield is 0.72%.
Themis Medicare Ltd's shareholding pattern (Dec 2025)
Themis Medicare Ltd's promoter holding has decreased recently.
Themis Medicare Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Themis Medicare Ltd has 3 key growth catalysts identified from recent earnings analysis
Themis Medicare Ltd has 2 key risks worth monitoring
Themis Medicare Ltd's management has provided the following forward guidance for FY27
Based on quantitative research signals, here is why Themis Medicare Ltd may be worth studying
Themis Medicare Ltd investment thesis summary:
Themis Medicare Ltd's forward outlook based on current data signals
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.
