BSE: 524717
TITAN BIOTECH LTD.
Manufactures specialty chemicals for the Indian market, generating Rs 206.19 crore of revenue in FY26 and net profit of Rs 29.8852 crore at an EBITDA margin of 21.35%. The cost structure is materials-heavy, with raw inputs accounting for 48.1% of revenue, employees 15.7%, and other operating expenses 18.9%, leaving depreciation at 2.4% and capital expenditure at 4.5% of revenue. The filings do not break out individual product lines, but consolidated results include a share of profits from two associates, Peptech Biosciences and Titan Media, suggesting adjacent activity in biological products and media. The board has recommended a dividend of Rs 0.50 per equity share for FY26, and the equity was sub-divided 1:5 in February 2026, raising the share count from 82.64 lakh to 4.13 crore shares. The stock is listed on BSE only, and the recent filings are dominated by routine SEBI compliance, RTA confirmations, and quarterly financial results. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Specialty chemicals (standalone). Small specialty chemicals manufacturer, materials-heavy cost structure.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 153 | 144 | 164 | 156 | 206 |
| EBITDA (ex other income) | 41 | 30 | 34 | 25 | 39 |
| margin % | 26.8 | 20.5 | 20.9 | 16.3 | 18.7 |
| Owners' profit | 29 | 25 | 25 | 22 | 30 |
| EPS, as reported (₹) | 30.66 | 30.06 | 28.64 | 26.06 | 7.23 |
| ROE % · ROCE % | 27.3 · 33.4 | 22.6 · 25.3 | 18.6 · 23.8 | 14.0 · 16.0 | 16.5 · 20.8 |
| Debt / equity (x) | 0.15 | 0.06 | 0.05 | 0.01 | 0.02 |
| Cash from operations | 23 | 21 | 21 | 20 | 30 |
| Capex | (19) | (13) | (9) | (9) | (9) |
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 | 43 | 40 | 38 | 35 | 46 | 54 | 57 | 49 |
| Profit before tax | 8 | 7 | 5 | 5 | 8 | 9 | 11 | 10 |
| Net profit | 6 | 7 | 4 | 4 | 7 | 8 | 9 | 7 |
| EPS (₹) | 7.74 | 8.10 | 5.31 | 4.90 | 8.30 | 9.40 | 10.32 | 1.63 |
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. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,42,095 | 53.6 | 12.86 | 37.6 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,659 | 32.2 | 4.96 | 21.6 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 47,075 | 76.8 | 5.95 | 37.4 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,610 | 55.1 | 10.97 | 39.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,905 | 88.6 | 8.51 | 56.8 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 20,257 | 25.9 | 3.45 | 21.0 | 9.4 | 10.2 | 12.6 | 21.5 |
| AARTI INDUSTRIES LTD | 15,871 | 29.9 | 2.67 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
| FINE ORGANIC IND. LTD. | 15,604 | 35.6 | 5.86 | 25.5 | 15.7 | 20.0 | 15.9 | 28.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.0 | 23.1 | 17 of 99 | 84% |
| P/B | 8.1 | 2.8 | 89 of 99 | 10% |
| ROCE | 20.3 | 10.1 | 16 of 106 | 86% |
| ROE | 16.5 | 8.1 | 17 of 99 | 84% |
| Debt / Equity | 0.0 | 0.2 | 25 of 99 | 76% |
| EBITDA margin | 24.2 | 15.5 | 26 of 99 | 75% |
| Revenue growth | 38.9 | 24.4 | 25 of 94 | 74% |
| Profit growth | 66.3 | 55.1 | 43 of 92 | 54% |
| Market cap | 1471 | 699 | 42 of 108 | 62% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Titan Biotech allots 1,03,29,625 bonus shares at a 1-for-4 ratio | corporate actions | high | — | — |
| 9 Oct 2026 · Bonus Issue 1:4; Record Date Fixed for October 23, 2026 | corporate actions | high | — | — |
| 7 Oct 2026 · Quarterly compliance certificate for dematerialization of shares | compliance | minimal | — | — |
| 30 Sept 2026 · Authorized share capital raised from Rs 10 cr to Rs 10.4 cr; MOA amended | corporate actions | medium | — | — |
| 30 Sept 2026 · Titan Biotech 34th AGM: all 10 resolutions passed including bonus shares | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Titan Biotech 34th AGM held; bonus shares and dividend on agenda | board shareholder meetings | medium | — | — |
| 10 Sept 2026 · Disclosure of lost share certificates via newspaper advertisement | compliance | minimal | — | — |
| 7 Sept 2026 · Titan Biotech 34th AGM Notice Published in Newspapers | compliance | minimal | — | — |
| 5 Sept 2026 · Titan Biotech sends annual report weblink to shareholders without email IDs | compliance | minimal | — | — |
| 5 Sept 2026 · 34th AGM notice: 1:4 bonus issue, dividend, capital hike on Sep 29, 2026 | 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.