BSE: 543616
Trident Lifeline Limited
Sells a wide pharmaceutical product portfolio of 3,625 products, with 1,091 products registered across 46 countries and 2,534 registrations pending, generating revenue from both domestic and export markets. In FY26, consolidated revenue was Rs 129.02 crore, up 48.4% year-on-year, driven by growth in pharmaceutical sales. The company also operates a medical-device subsidiary, Trident Mediquip Limited (TML), in which it holds around 58.67% and which reported turnover of Rs 27.31 crore in FY26 versus Rs 21.29 crore in FY25. Materials are the single largest cost at 46.5% of revenue, followed by other operating expenses at 10.6% and employee costs at 8.4%. Capital expenditure absorbed 28.3% of revenue in FY26, reflecting ongoing investment in the business. The company is currently migrating its listing from the BSE SME platform to the BSE and NSE main boards. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Pharmaceutical products, Medical devices (via Trident Mediquip subsidiary). Pharmaceutical formulations exporter with a growing medical-device subsidiary and heavy reinvestment
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 32 | 45 | 87 | 129 |
| EBITDA (ex other income) | 6 | 7 | 9 | 22 |
| margin % | 18.6 | 16.2 | 10.8 | 17.1 |
| Owners' profit | — | — | — | — |
| EPS, as reported (₹) | 6.23 | 5.17 | 10.22 | 16.32 |
| ROE % · ROCE % | — · 14.7 | — · 13.9 | — · 17.2 | — · 21.0 |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | (17) | 2 | (10) | 5 |
| Capex | — | — | (11) | (36) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29 | 50 | 24 | 53 | 26 | 76 | 34 | 81 |
| Profit before tax | 7 | 7 | 4 | 11 | 6 | 17 | 7 | 15 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 4.69 | 6.32 | 2.66 | 6.91 | 3.72 | 9.45 | 4.27 | 9.72 |
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) | 15.2 | 29.3 | 35 of 160 | 79% |
| EBITDA margin | 20.6 | 14.6 | 57 of 178 | 68% |
| Revenue growth | 51.4 | 17.1 | 25 of 163 | 85% |
| Market cap | 494 | 814 | 98 of 181 | 46% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · Q2 FY27 growth accelerates; management targets threefold business in three years | investor communications | medium | — | — |
| 4 Nov 2026 · Quarter to Sep 2026: consolidated revenue up 50%, after-tax profit up 30% year on year; revised | results | high | — | — |
| 29 Oct 2026 · Q2 FY27 revenue rises 50%, profit after tax rises 30% | compliance | low | — | — |
| 29 Oct 2026 · Trident Lifeline publishes half-year results extract in newspapers | compliance | minimal | — | — |
| 29 Oct 2026 · EGM approves preferential equity, warrants and Articles of Association changes | board shareholder meetings | low | — | — |
| 27 Oct 2026 · Revised H1 FY27 results show strong revenue and profit growth | results | medium | — | — |
| 27 Oct 2026 · Revised half-year FY27 net profit rises to Rs 1,167.72 lakh | results | medium | — | — |
| 27 Oct 2026 · Revised H1 FY2027 results resubmitted after filing error | results | medium | — | — |
| 27 Oct 2026 · Extraordinary meeting advances share issues and company rule changes | board shareholder meetings | low | — | — |
| 26 Oct 2026 · Trident Lifeline declares Rs 0.50 interim dividend; record date Oct 30 | corporate actions | 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.