BSE: 530313
KIMIA BIOSCIENCES LIMITED
Manufactures active pharmaceutical ingredients (APIs) and finished pharmaceutical products, operating in the small-cap pharmaceutical space on BSE. The filing pack identifies Luliconazole — an antifungal API — as a specific product, with the company having secured a 20-year Indian patent (No. 579384) for an improved manufacturing process, granted January 29, 2026. FY26 revenue from operations stood at Rs 114.88 crore, down 3.4% year-on-year, with a single reported segment ('Revenue from Operations') making up 100% of segment revenue in the most recent disclosed period. Net profit for FY26 was Rs 7.43 crore, with the company spending Rs 65.66 crore on materials (57.2% of revenue), Rs 12.62 crore on employees (11.0%), and Rs 8.16 crore on capex (7.1%). R&D spend was significant enough to be reclassified from expense to intangible assets where recognition criteria were met, indicating active development work. Working capital facilities of Rs 29.60 crore are sanctioned from Kotak Mahindra Bank, of which Rs 22.71 crore was utilised as of March 31, 2026. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Revenue from Operations (100%). Small-cap pharmaceutical manufacturer with material-heavy cost structure and active R&D programme
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 125 | 129 | 105 | 119 | 115 |
| EBITDA (ex other income) | 1 | (6) | (0) | 20 | 14 |
| margin % | 0.5 | (4.7) | (0.5) | 17.0 | 12.4 |
| Owners' profit | (4) | (9) | (5) | 10 | 7 |
| EPS, as reported (₹) | (0.78) | (1.98) | (1.12) | 2.03 | 1.64 |
| ROE % · ROCE % | (24.9) · (2.9) | (171.2) · (18.1) | (1603.8) · (7.0) | 96.5 · 61.9 | 41.9 · 28.5 |
| Debt / equity (x) | 2.73 | 9.69 | 131.12 | 3.27 | 1.95 |
| Cash from operations | 8 | (7) | 15 | 21 | 11 |
| Capex | (4) | (3) | (2) | (5) | (8) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22 | 28 | 30 | 38 | 24 | 34 | 30 | 27 |
| Profit before tax | 2 | 2 | 4 | 6 | 1 | 1 | 5 | 2 |
| Net profit | 1 | 2 | 5 | 2 | 1 | 1 | 5 | 0 |
| EPS (₹) | 0.30 | 0.34 | 0.97 | 0.42 | 0.13 | 0.21 | 1.15 | 0.15 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,21,821 | 34.9 | 5.03 | 22.6 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,56,096 | 87.7 | 15.28 | 66.1 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,55,015 | 73.2 | 8.82 | 38.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| LAURUS LABS LIMITED | 1,21,232 | 110.8 | 22.32 | 67.4 | 16.4 | 17.2 | 7.2 | 32.0 |
| ZYDUS LIFESCIENCES LTD | 1,18,522 | 26.5 | 4.01 | 15.3 | 17.3 | 18.0 | 12.4 | 25.2 |
| DR. REDDY S LABORATORIES | 1,11,890 | 34.6 | 2.93 | 14.9 | 10.9 | 13.0 | 12.1 | 15.0 |
| CIPLA LTD | 1,09,690 | 32.5 | 3.18 | 16.8 | 11.2 | 14.7 | 8.0 | 19.7 |
| MANKIND PHARMA LIMITED | 1,01,982 | 49.9 | 6.16 | 28.1 | 11.7 | 10.8 | — | 27.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 18.8 | 30.2 | 45 of 158 | 72% |
| P/B | 0.8 | 3.1 | 16 of 163 | 90% |
| ROCE | 20.1 | 10.8 | 34 of 183 | 82% |
| ROE | 42.0 | 9.8 | 7 of 166 | 96% |
| Debt / Equity | 1.9 | 0.2 | 162 of 166 | 2% |
| EBITDA margin | 13.5 | 17.5 | 100 of 165 | 40% |
| Revenue growth | (28.9) | 16.3 | 147 of 161 | 9% |
| Profit growth | (81.3) | 30.9 | 142 of 158 | 10% |
| Market cap | 15 | 801 | 172 of 181 | 5% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Routine dematerialization compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · Board changes approved at 33rd AGM, independent directors appointed | management changes | high | — | — |
| 29 Sept 2026 · AGM 2026: All 10 resolutions passed; borrowing and investment limits raised | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Proceedings of 33rd AGM held on Sept 28, 2026 | board shareholder meetings | medium | — | — |
| 26 Sept 2026 · Trading window to close ahead of Q2 and H1 FY27 results | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper publication of 33rd AGM notice filed with BSE | compliance | minimal | — | — |
| 4 Sept 2026 · 33rd AGM Notice and Annual Report for FY 2025-26 filed | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Kimia Biosciences fixes 21 Sep 2026 as record date for 33rd AGM voting | board shareholder meetings | low | — | — |
| 4 Sept 2026 · 33rd AGM set for 28 Sep 2026 via video conferencing; pre-AGM ad published | compliance | minimal | — | — |
| 4 Sept 2026 · 33rd AGM on Sept 28, 2026; seeks nod for borrowing limit hike to Rs 100 Cr | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.