Company Overview

Anthem Biosciences Limited (BSE: 544449, NSE: ANTHEM) reported strong FY 2025-26 performance through its annual report and audited financial results filed in compliance with SEBI Listing Regulations.

Financial Performance Highlights

Consolidated Financials (FY 2025-26 vs FY 2024-25)

  • Revenue from Operations: ₹21,243.33 million (vs ₹18,445.53 million) - 15.2% growth
  • EBITDA: ₹9,896 million (vs ₹7,566 million) - 30.8% growth with margin expansion to 43.4%
  • PAT: ₹5,917.92 million (vs ₹4,512.59 million) - 31.1% growth with PAT margin of 26.0%
  • Basic EPS: ₹10.55 (vs ₹8.07 in FY25)
  • Segment Performance: CRDMO Business contributed ₹17,727 million (83.4%), Specialty Ingredients ₹3,516 million (16.6%)
  • Export Revenue: ₹18,085.41 million (81.15% of total), demonstrating strong global presence

Capital Markets & Corporate Actions

  • IPO Completion: Successfully listed on BSE and NSE on July 21, 2025 through ₹3,395 crore Offer for Sale
  • Subscription: 67x oversubscribed with 27% listing day gains over issue price of ₹570 per share
  • Dividend: Proposed final dividend of ₹2.00 per equity share with record date of June 26, 2026
  • ESOP Scheme: Granted 10,157,000 stock options under Anthem ESOP 2024 scheme with 787 employees covered

Operational Expansion & Capacity

  • Unit III: Commissioned peptide/HPAPI facilities with 25 KL custom synthesis capacity in early ramp-up phase
  • Unit II: Expanded capacity achieving 64.6% utilization for custom synthesis operations
  • Unit IV: Commenced greenfield expansion on 30-acre site with Phase I investment of ₹1,200+ crore adding 365 KL custom synthesis + 100 KL fermentation capacity
  • Regulatory Compliance: Cleared ANVISA audit for Units I/II, second USFDA audit for Unit II, and received fourth USFDA approval for Unit I

ESG & Sustainability Performance

Environmental

  • Renewable Energy: 94.9% of total consumption (60.80 Mn kWh)
  • GHG Emissions: 19,599 tCO2e with intensity of 0.94 tCO2e per ₹Mn revenue
  • Water Recycling: 99.8% at Units I & II, 91.8% at Unit III
  • Zero Liquid Discharge: Implemented at all three manufacturing locations

Social & Governance

  • Safety Performance: Zero Lost Time Injuries (LTIFR = 0) with 100% safety training coverage
  • Employee Strength: 2,282 employees (91% under 40 years, 58% postgraduates) with 16.35% gender diversity
  • Human Rights: 100% training coverage for employees and workers with zero POSH complaints
  • CSR Spending: ₹179.06 million spent (exceeding 2% requirement) on education, healthcare, and community development

Subsidiary Performance

NeoAnthem Lifesciences Private Limited (wholly-owned subsidiary)

  • Revenue: ₹708.97 million (significant growth from ₹90.18 million in FY25)
  • Net Loss: ₹(787.45) million (vs ₹549.28 million in FY25)
  • Parent Investment: ₹2,750 million invested during FY26 to support expansion

Exceptional Items & Provisions

  • Labour Code Provision: ₹243.91 million provision for anticipated impact of India's four new Labour Codes notified November 21, 2025
  • Codes Include: Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, and Occupational Safety Code 2020

Financial Position & Ratios

  • Total Assets: ₹34,292.90 million with cash equivalents of ₹2,729.09 million
  • Total Equity: ₹30,425.16 million with minimal borrowings of ₹510.68 million
  • Investments: ₹10,074.62 million in mutual funds and bonds
  • Key Ratios: Current ratio 5.54x, Debt-equity 0.02x, Return on Equity 21.71%

Regulatory & Compliance Matters

  • Tax Contingencies: ₹151.04 million under various assessments and ₹156.67 million in GST disputes
  • Auditor Change: Recommended appointment of S.R. Batliboi & Associates LLP as statutory auditors for 5 years
  • Compliance: Full compliance with Companies Act 2013, SEBI LODR Regulations, and Secretarial Standard-2

Forward-looking Strategy

The company continues to focus on capacity expansion, technological innovation in oligonucleotides and ADCs, and maintaining its strong ESG performance while navigating regulatory changes including the new Labour Codes.