BSE: 500422
TRANSCHEM LTD.
Classified under pharmaceuticals, the company reported total income of Rs 926.08 lakhs in FY26, but operating revenue in Q3 FY26 was just Rs 20.60 lakhs — the bulk of income came from 'other income' sources. It holds cash reserves of Rs 4,242.91 lakh and posted net profit of Rs 429.51 lakhs, though operating cash flow turned negative at minus Rs 156.59 lakh for the year. The company has allotted 6.15 crore warrants at Rs 75 each, of which Rs 110 crore of proceeds is earmarked for strategic acquisitions in the broking and allied financial services sector, with target entities intended to become subsidiaries. Another Rs 115 crore is allocated for general corporate purposes to be utilised within 6-18 months. The largest allottee is Bakkt Opco Holdings, LLC (a US entity owned by NYSE-listed Bakkt Inc.), which received 4.75 crore warrants representing 64.42% of fully diluted share capital upon conversion. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Operating revenue, Other income. Pharmaceutical classification with minimal operating revenue; cash-rich and raising capital to pivot toward broking and financial services
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q2 FY27 |
|---|---|
| Revenue | 1 |
| Profit before tax | 3 |
| Net profit | 2 |
| EPS (₹) | 1.68 |
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 | 4,46,270 | 40.7 | 4.98 | 24.9 | 5.5 | 8.0 | 11.8 | 29.3 |
| DIVI S LABORATORIES LTD | 2,73,493 | 93.6 | 16.32 | 79.4 | 15.3 | 18.8 | 8.7 | 40.7 |
| TORRENT PHARMACEUTICALS L | 1,80,500 | 80.2 | 9.82 | 42.6 | 6.0 | 4.0 | 11.8 | 33.5 |
| LAURUS LABS LIMITED | 1,26,430 | 94.3 | 20.45 | 72.4 | 12.9 | 14.2 | 7.2 | 34.0 |
| ZYDUS LIFESCIENCES LTD | 1,19,550 | 28.8 | 3.94 | 15.4 | 6.4 | 6.8 | 12.4 | 24.0 |
| DR. REDDY S LABORATORIES | 1,14,646 | 40.9 | 2.93 | 18.5 | 3.4 | 4.2 | 12.1 | 19.9 |
| CIPLA LTD | 1,13,988 | 39.3 | 3.21 | 19.3 | 4.6 | 6.2 | 8.0 | 18.7 |
| MANKIND PHARMA LIMITED | 1,04,902 | 46.8 | 5.88 | 30.6 | 7.2 | 7.3 | — | 27.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 250.0 | 29.3 | 154 of 160 | 4% |
| P/B | 2.5 | 3.1 | 68 of 163 | 59% |
| ROCE | 3.5 | 8.0 | 128 of 177 | 28% |
| ROE | 2.7 | 6.8 | 126 of 165 | 24% |
| Debt / Equity | 0.0 | 0.1 | 1 of 166 | 80% |
| EBITDA margin | (129.1) | 14.6 | 177 of 178 | 1% |
| Market cap | 514 | 814 | 97 of 181 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Transchem publishes September 2026 quarter and half-year results | compliance | minimal | — | — |
| 4 Nov 2026 · No warrant proceeds used during quarter ended September 30, 2026 | compliance | minimal | — | — |
| 4 Nov 2026 · Sep 2026 quarter consolidated profit after tax Rs 205.13 lakh versus Rs 67.92 lakh a year earlier | results | high | — | — |
| 4 Nov 2026 · Consolidated Q2 net profit 205.13 lakh; Greshma now 100% subsidiary | board shareholder meetings | low | — | — |
| 27 Oct 2026 · Board meeting to approve September 2026 quarterly and half-year results | results | low | — | — |
| 12 Oct 2026 · Quarterly compliance certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · Transchem 49th AGM minutes filed - all 3 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Transchem 49th AGM voting results: All 3 resolutions passed | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · Transchem 49th AGM: pivot to financial services, Greshma acquisition completed | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Transchem acquires 100% of Greshma Shares and Stocks for about INR 25.91 crore | strategic transactions | high | — | — |
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.