Gujarat Themis Biosyn Limited has informed the Exchange about Investor Presentation
GUJTHEM · price
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Awaiting price reaction for this filing.
Gujarat Themis Biosyn filed its Q1 FY26 investor presentation reporting revenue of Rs. 35.87 cr (down 7.6% YoY), EBITDA of Rs. 13.91 cr (down 25%), and PAT of Rs. 9.05 cr (down 31.6%). EBITDA margin fell to 38.8% from 47.8% and PAT margin to 25.2% from 34.1%, which management attributed to one-time legal and GST expenses, April grid power failure that disrupted production, and inventory volatility in select products. Management said these impacts are 'momentarily' and should normalize, while highlighting that the new API unit commenced commercial production in May 2025 with validation batches underway, targeting US and Europe export markets. Additional fermentation capacity is under construction and expected by end of calendar year 2025, with R&D spend at about 6% of revenue. The balance sheet shows heavy capex in progress with capital work-in-progress at Rs. 184.41 cr and fresh non-current borrowings of Rs. 29.64 cr, while return ratios (RoCE, RoE, RoA) have declined sharply over the past two years.
Near-term sentiment may stay weak as margins missed expectations despite management framing the decline as one-off, and the stock could remain under pressure until the new API unit shows scale benefits. Long-term story hinges on successful execution of forward integration and fermentation expansion, though current RoCE compression (19.6% vs 57.9% two years ago) reflects the capex drag.