NSE: VENUSREM · BSE: 526953
VENUS REMEDIES LIMITED
Operates in the pharmaceuticals and biotechnology space, reporting standalone revenue from operations of Rs 768.73 crore in FY26 against Rs 644.47 crore the year before and consolidated net profit of Rs 102.78 crore. The business carries out in-house Research and Development, with its R&D unit receiving renewal of the government's DSIR recognition in 2026. Operations extend overseas through a wholly-owned German subsidiary, Venus Pharma GmbH, which is currently undergoing restructuring with parent support pledged; the auditor has flagged Rs 28.60 crore of share application money outstanding at this subsidiary. The cost base is dominated by materials, which absorb 50.4% of revenue, while employees account for 11.5% and other operating expenses for 19.0%, leaving an EBITDA margin of 20.77% in FY26. The Board has recommended revisions to the Memorandum of Association to expand the company's stated scope into biotechnology, digital and telehealth businesses, subject to shareholder approval at the 37th AGM on August 20, 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceuticals (existing operations), Biotechnology, digital and telehealth (proposed scope). Pharmaceuticals with in-house R&D and overseas subsidiary exposure
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 599 | 556 | 601 | 648 | 770 |
| EBITDA (ex other income) | 62 | 60 | 60 | 73 | 147 |
| margin % | 10.4 | 10.8 | 9.9 | 11.3 | 19.1 |
| Owners' profit | 0 | 0 | 27 | 45 | 0 |
| EPS, as reported (₹) | 30.86 | 19.88 | 21.31 | 33.90 | 76.89 |
| ROE % · ROCE % | 9.2 · 7.6 | 5.8 · 7.4 | 5.8 · 8.2 | 8.1 · 12.4 | 15.5 · 19.4 |
| Debt / equity (x) | 0.10 | 0.09 | 0.08 | 0.00 | 0.00 |
| Cash from operations | 41 | 37 | 37 | 86 | 156 |
| Capex | (14) | (8) | (9) | (10) | (38) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 167 | 177 | 195 | 132 | 193 | 180 | 259 | 179 |
| Profit before tax | 9 | 25 | 31 | 13 | 26 | 33 | 62 | 30 |
| Net profit | 4 | 20 | 21 | 10 | 20 | 26 | 47 | 23 |
| EPS (₹) | 2.63 | 14.66 | 15.71 | 7.18 | 15.06 | 19.14 | 35.53 | 17.18 |
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 | 4,21,677 | 34.9 | 5.03 | 22.6 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,53,976 | 87.0 | 15.15 | 65.5 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,54,957 | 73.1 | 8.81 | 38.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| LAURUS LABS LIMITED | 1,17,877 | 107.7 | 21.70 | 65.6 | 16.4 | 17.2 | 7.2 | 32.0 |
| ZYDUS LIFESCIENCES LTD | 1,17,315 | 26.2 | 3.97 | 15.1 | 17.3 | 18.0 | 12.4 | 25.2 |
| DR. REDDY S LABORATORIES | 1,11,506 | 34.5 | 2.92 | 14.9 | 10.9 | 13.0 | 12.1 | 15.0 |
| CIPLA LTD | 1,10,320 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| MANKIND PHARMA LIMITED | 1,02,829 | 50.3 | 6.21 | 28.3 | 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) | 15.4 | 30.8 | 35 of 158 | 78% |
| P/B | 2.7 | 3.1 | 73 of 163 | 56% |
| ROCE | 19.4 | 10.8 | 36 of 183 | 81% |
| ROE | 15.5 | 9.8 | 44 of 166 | 74% |
| Debt / Equity | 0.0 | 0.2 | 1 of 166 | 79% |
| EBITDA margin | 20.6 | 17.5 | 72 of 165 | 57% |
| Revenue growth | 35.6 | 16.3 | 37 of 161 | 78% |
| Profit growth | 139.3 | 30.9 | 31 of 158 | 81% |
| Market cap | 1786 | 806 | 80 of 181 | 56% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Unaudited September 2026 results show revenue and profit growth | compliance | minimal | — | — |
| 26 Oct 2026 · September quarter profit rises; review highlights German subsidiary exposure | results | high | — | — |
| 26 Oct 2026 · Sep 2026 results: half-year revenue and net profit rise; German unit flagged | results | high | — | — |
| 16 Oct 2026 · Venus Remedies secures five marketing approvals in four countries | business updates | high | — | — |
| 14 Oct 2026 · Venus Remedies shares social media notice on special window for physical share transfers | compliance | minimal | — | — |
| 14 Oct 2026 · Board meeting on 26 Oct 2026 to approve Q2 results | results | low | — | — |
| 9 Oct 2026 · Reg 74(5) SEBI compliance for Q2 of Sept 2026 | compliance | minimal | — | — |
| 30 Sept 2026 · Venus Remedies changes its Corporate Identification Number | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 till 48 hours after Q2 results announcement | compliance | minimal | — | — |
| 10 Sept 2026 · Newspaper notice to physical shareholders on share transfer window | compliance | minimal | — | — |
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.