Gujarat Themis Biosyn (GUJTHEM) had a P/E of 85.1× on 6 Nov 2026, above the industry P/E of 28.7×, and the shares are 19% below their 52-week high. It earns ROCE of 15% and ROE of 17%, and sales grew 3.8% a year over 3 years while net profit fell 7.0%. Its dividend yield is 0.2%, and debt is 0.56× equity. It is a small-cap company with a market cap of ₹4,948 Cr, ranked 44th of 154 Drug Manufacturers (Specialty & Generic) companies by market cap; the shares fell 16% over the past year.
- ₹388.10
- ₹389.00
- ₹375.40
- ₹388.10
- 75.8K
Health check
- ReturnsBehind
−15.7% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 85.1 vs industry 28.7.
- GrowthSlow
Sales +3.8%, profit −7.0% a year over 3 years.
- ProfitabilityAverage
ROCE 15.5% vs peer median 17.9%.
- Balance sheetFair
Debt 0.56× equity, interest covered 18.8×, Piotroski 5 of 9.
- Red flags2 to check
P/E of 85.1 against an industry P/E of 28.7.
Small cap
Defensive
Key metrics
- Market cap
- ₹4,948 Cr
- Small cap
- P/E
- 85.1
- Industry 28.7
- Price to book
- 14.40
- Peers 4.99
- Dividend yield
- 0.18%
- ROE
- 17.4%
- Peers 14.7%
- ROCE
- 15.5%
- Peers 17.9%
- Debt to equity
- 0.56
- Debt ₹162 Cr
- EPS (TTM)
- ₹4.47
- Face value ₹1
- OPM (TTM)
- 47.4%
- Net margin 28.0%
- Sales growth
- +22.1%
- Latest quarter vs a year ago
- Profit growth
- +22.1%
- Latest quarter vs a year ago
- Price to sales
- 28.48
- EV/EBITDA 52.0
Strengths and risks
Strengths
- Quarterly profit up 22.1% on a year ago.
- Quarterly sales up 22.1% on a year ago.
- Net margin of 28.0%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 85.1 against an industry P/E of 28.7.
- Promoter stake down from 70.9% to 59.3%.
About Gujarat Themis Biosyn
Gujarat Themis Biosyn Limited engages in the manufacture of pharmaceuticals, medicinal chemicals, and active pharmaceutical ingredients in India and internationally. The company offers bulk drugs on job work basis in India. Its products include Rifamycin-S, an intermediate for the treatment of tuberculosis, Mycobacterium avium complex, leprosy, and Legionnaires' disease; Rifamycin-O, an antibiotic for the treatment of traveller's diarrhea, irritable bowel…
- Headquarters
- Mumbai
- Sector
- Healthcare
- ISIN
- INE942C01045
- Website
- gtbl.in
Price range
- Avg volume (3M)
- 4.2 L
- 1-year return
- minus 15.7%
- From 52-week high
- minus 19.1%
Peers · Drug Manufacturers - Specialty & Generic
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMASun Pharmaceutical Industries | 1,860.00 | plus 1.69% | 4,46,276 | 40.7 | 4.99 | 17.9% | 13.1% | 28.2% | 10.4% | 10.6% | 0.86% | plus 8.2% |
| DIVISLABDivi's Laboratories | 10,320.50 | plus 1.78% | 2,73,977 | 93.6 | 16.35 | 19.0% | 16.2% | 34.9% | 11.0% | 12.1% | 0.29% | plus 49.0% |
| TORNTPHARMTorrent Pharmaceuticals | 4,750.00 | plus 0.85% | 1,80,675 | 80.2 | 9.83 | 9.1% | 15.7% | 33.7% | 13.3% | 20.2% | 0.80% | plus 31.7% |
| LAURUSLABSLaurus Labs | 2,340.00 | minus 0.26% | 1,26,433 | 94.4 | 20.86 | 19.5% | 24.0% | 30.4% | 3.8% | 4.0% | 0.09% | plus 138.6% |
| ZYDUSLIFEZydus Lifesciences | 1,197.90 | plus 0.41% | 1,19,491 | 28.6 | 4.29 | 19.0% | 14.7% | 26.2% | 16.5% | 37.0% | 0.08% | plus 22.8% |
| DRREDDYDr. Reddy's Laboratories | 1,373.00 | plus 0.51% | 1,14,462 | 40.9 | 2.96 | 14.2% | 7.3% | 15.9% | 11.0% | −1.7% | 0.58% | plus 13.8% |
| CIPLACipla | 1,411.00 | plus 0.49% | 1,13,993 | 39.4 | 3.22 | 14.9% | 8.3% | 17.3% | 7.2% | 11.5% | 0.92% | minus 6.6% |
| GUJTHEMGujarat Themis Biosyn | 380.20 | minus 2.04% | 4,948 | 85.1 | 14.40 | 15.5% | 17.4% | 47.4% | 3.8% | −7.0% | 0.18% | minus 15.7% |
| Median of 7 peers | – | 0.51% | 1,26,433 | 40.9 | 4.99 | 17.9% | 14.7% | 28.2% | 11.0% | 11.5% | 0.58% | 22.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 35.9 | 42.3 | 43.4 | 44.2 | 43.8 | |
| 22 | 21.4 | 22.1 | 24.9 | 23 | |
| 13.9 | 20.9 | 21.3 | 19.4 | 20.8 | |
| 38.8% | 49.5% | 49.1% | 43.8% | 47.5% | |
| 0.3 | 0.8 | 0.4 | 0.9 | 0.1 | |
| 0 | 0 | 1 | 1.9 | 1.8 | |
| 2 | 3 | 3.9 | 4 | 4 | |
| 12.1 | 18.8 | 16.9 | 14.3 | 15.2 | |
| 25.2% | 24.0% | 26.1% | 24.0% | 27.0% | |
| 9.1 | 14.3 | 12.5 | 10.9 | 11.1 | |
| 0.83 | 1.31 | 1.14 | 1.00 | 1.02 |
Profit & loss
- Sales CAGR 3Y
- +3.8%
- Profit CAGR 3Y
- −7.0%
- EPS CAGR 3Y
- −7.0%
- ROE
- 17.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 148 | 170 | 151 | 166 | |
| – | +14.6% | minus 11.2% | +10.0% | |
| 73 | 90.2 | 80.9 | 88.1 | |
| 75.1 | 79.6 | 69.9 | 77.8 | |
| 50.7% | 46.9% | 46.4% | 46.9% | |
| 5 | 3.9 | 1.4 | 0.7 | |
| 0.1 | 0.1 | 0.2 | 3.5 | |
| 2.6 | 4.1 | 5.7 | 12.9 | |
| – | – | 0.1 | – | |
| 77.5 | 79.3 | 65.5 | 62.1 | |
| 25.2% | 25.4% | 25.6% | 24.8% | |
| 58 | 59.2 | 48.8 | 46.7 | |
| – | +2.1% | minus 17.6% | minus 4.3% | |
| 5.32 | 5.43 | 4.48 | 4.28 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.3 | 7.3 | 10.9 | 10.9 | |
| 142 | 194 | 237 | 277 | |
| 0.4 | 2.8 | 30.5 | 162 | |
| 16.8 | 17 | 22.5 | 53.8 | |
| 166 | 221 | 301 | 503 | |
| 62.1 | 137 | 226 | 412 | |
| 29.4 | 98.6 | 184 | 124 | |
| 39.7 | 30.9 | 0.9 | 0 | |
| 8.9 | 14.1 | 11.7 | 4.1 | |
| 26.2 | −59.2 | −121 | −36.7 | |
| 166 | 221 | 301 | 503 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.5 | 64.2 | 91 | 48.8 | |
| −20.4 | −55.2 | −112 | −172 | |
| −13.3 | −8.6 | 26 | 115 | |
| 5.8 | 0.4 | 5.2 | −8.6 | |
| −23.7 | −74.6 | −116 | −173 | |
| 15.8 | −10.4 | −25.1 | −124 | |
| −12.4 | −6.9 | −1.8 | −7.3 |
Shareholding pattern
- Promoters59.33%
- Public40.67%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 59.33% | 40.67% | 0.00 | |
| 28 Aug 2026 | 59.33% | 40.67% | minus 11.53 | |
| 30 Jun 2026 | 70.86% | 29.14% | 0.00 | |
| 31 Mar 2026 | 70.86% | 29.14% | 0.00 | |
| 31 Dec 2025 | 70.86% | 29.14% | – |
Major shareholders
Filings & events
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