CARE Ratings assigns BB Stable issuer rating to Aptus Pharma
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CARE Ratings assigned a CARE BB with Stable outlook issuer rating to Aptus Pharma Limited on June 26, 2026, a first-time rating. Aptus is a Gujarat-based pharma marketing and distribution firm listed on BSE SME since September 2025. FY26 revenue jumped about 90 percent to Rs 46.57 crore with PBILDT margin of around 16 percent. The rating is constrained by modest scale, working capital intensity, stretched liquidity, geographic concentration and dependence on contract manufacturers. Strengths include experienced promoter and comfortable capital structure post IPO with gearing at 0.31x.
CARE BB is a below investment grade (speculative) rating. Stable outlook and improving post IPO financials are positives, but small scale and stretched liquidity remain concerns.