Key Business Transacted

The Board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review report from the statutory auditors. The Board also noted the resignation of Mr. Vineet Gawankar from the position of Company Secretary and Compliance Officer, effective November 30, 2026.

The meeting commenced at 10:00 AM IST and concluded at 1:00 PM IST.

Detailed Financial Results (Consolidated)

Income Statement Highlights (Amount in INR Lakhs):

  • Quarter Ended Sep 30, 2026: Total Income was ₹7,931.24, Profit Before Tax was ₹399.18, Net Profit After Tax was ₹(277.66).
  • Half Year Ended Sep 30, 2026: Total Income was ₹16,825.09, Profit Before Tax was ₹1,876.05, Net Profit After Tax was ₹1,106.67.
  • Comparative (Audited - Year Ended Mar 31, 2026): Total Income was ₹16,582.28, Profit Before Tax was ₹6,209.00, Net Profit After Tax was ₹4,668.15.
  • Earnings Per Share (Basic and Diluted) for the half year ended Sep 30, 2026, was ₹1.02.

Balance Sheet Highlights (Consolidated as of Sep 30, 2026 vs. Mar 31, 2026 in INR Lakhs):

  • Total Assets: Increased significantly to ₹267,380.26 from ₹50,342.66.
  • Non-Current Assets: Rose to ₹212,095.44 from ₹41,464.28, largely due to the recognition of Goodwill (₹106,144.52) from a recent acquisition.
  • Current Assets: Increased to ₹55,284.82 from ₹8,878.38.
  • Equity: Total Equity stood at ₹102,320.25 (Mar 31, 2026: ₹28,776.78).
  • Liabilities: Non-Current Liabilities increased to ₹139,802.48 (Mar 31, 2026: ₹13,651.05), and Current Liabilities were ₹25,257.53 (Mar 31, 2026: ₹7,914.83).

Cash Flow Statement (Consolidated for Period Ended Sep 30, 2026 in INR Lakhs):

  • Net Cash used in Operating Activities: ₹(487.97)
  • Net Cash used in Investing Activities: ₹(112,064.11)
  • Net Cash from Financing Activities: ₹126,642.98
  • Net increase in cash before FX effects: ₹14,090.91
  • Effects of exchange rate changes: ₹(1,162.56)
  • Cash and Cash Equivalents at end of period: ₹13,241.11

Detailed Financial Results (Standalone)

Income Statement Highlights (Amount in INR Lakhs):

  • Quarter Ended Sep 30, 2026: Total Income was ₹5,113.11, Profit Before Tax was ₹1,105.48, Net Profit After Tax was ₹846.57. EPS was ₹0.72.
  • Half Year Ended Sep 30, 2026: Total Income was ₹9,505.27, Profit Before Tax was ₹2,622.01, Net Profit After Tax was ₹1,953.24. EPS was ₹1.73.
  • Comparative (Audited - Year Ended Mar 31, 2026): Total Income was ₹16,825.09, Profit Before Tax was ₹6,209.00, Net Profit After Tax was ₹4,668.15. EPS was ₹4.28.

Balance Sheet Highlights (Standalone as of Sep 30, 2026 vs. Mar 31, 2026 in INR Lakhs):

  • Total Assets: Increased to ₹189,341.95 from ₹50,342.66.
  • Non-Current Assets: Rose to ₹170,404.64 from ₹41,464.28, including Investments (₹47,506.07) and Loans (₹76,810.62) given to subsidiaries.
  • Current Assets: Increased to ₹18,937.31 from ₹8,878.38.
  • Equity: Total Equity was ₹105,531.22 (Mar 31, 2026: ₹28,776.78).
  • Liabilities: Non-Current Liabilities were ₹72,012.01 (Mar 31, 2026: ₹13,651.05), and Current Liabilities were ₹11,798.71 (Mar 31, 2026: ₹7,914.83).

Significant Events and Capital Activities

  • QIP Issuance: On August 28, 2026, the company allotted 21,186,440 equity shares at ₹54 per share to Qualified Institutional Buyers, aggregating ₹750 crore. This increased the paid-up equity share capital from ₹1,089.65 lakh to ₹1,301.52 lakh. Proceeds are for inorganic growth (including investment in subsidiaries) and general corporate purposes.
  • NCD Issuance: On September 16, 2026, the company issued 58,500 secured, unlisted, redeemable Non-Convertible Debentures of face value ₹1,00,000 each, aggregating ₹585 crore on a private placement basis.
  • Acquisition of MicroBiopharm Japan (MBJ): On September 18, 2026, the company, through its subsidiary Themis Biosyn Japan Ltd. (TBJ), acquired 100% of MBJ for JPY 2,125.54 Crore. Goodwill of JPY 1,735.52 Crore (₹1,061.45 Crore as of Sep 30, 2026) was provisionally recognized. The Purchase Price Allocation is provisional. MBJ's results are included from the acquisition date, making current period figures not directly comparable to previous periods.
  • The consolidated group now includes Themis Biosyn Japan Ltd. (TBJ), MicroBiopharm Japan Co. Ltd. (MBJ), Themis Biosyn SG Pte. Ltd. (TBS), Themis Biosyn Ireland Private Limited, and Themis Biosyn Private Limited (the latter two had nil transactions).
  • The company operates in one business segment: manufacturing fermentation-based pharmaceutical intermediates and APIs.

Management Change

Mr. Vineet Gawankar, Company Secretary and Compliance Officer, resigned effective November 30, 2026, to pursue opportunities outside the organization. The reason cited is personal, with no other material reasons or disputes disclosed.

Auditor's Review

The statutory auditors, GMJ & Co., conducted a limited review of both the standalone and consolidated financial results and provided an unmodified conclusion. For the consolidated results, the review relied on the report of another auditor for the step-down subsidiary MBJ and on unaudited financial information provided by management for four other subsidiaries deemed not material to the group.