ANTHEM · Healthcare
Anthem Biosciences Ltd. reported revenue of ₹540 cr for April to June 2025, +59.3% on the year and +11.8% on the quarter.
Operating profit (EBITDA) was ₹191 cr, a margin of 35.4%, −32 bps on the year and −500 bps on the quarter. Operating costs grew +60.1%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹136 cr, +65.9% on the year and +63.9% on the quarter, with earnings per share of ₹2.42. Profit before other income, one-offs and tax grew 64.6%, so the profit growth came from the business itself. The tax rate was 27% against an average of 32% over the previous 4 quarters, which lifted profit this quarter.
Pharma quarters swing with US generic launches and price erosion, while India formulations grow more steadily. Currency gains and other income can be material, so headline profit needs a check against operating profit. The quarterly statements do not carry the US and India split, R&D spend and any FDA observations; those come with the filing read.
On earnings per share of ₹9.02 over the last four quarters, the stock at ₹827.85 trades at 91.8 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹339 cr | ₹525 cr | ₹498 cr | ₹483 cr | ₹540 cr | ₹551 cr | ₹423 cr | ₹611 cr | ₹418 cr | ₹594 cr |
| YoY | — | — | — | — | +59% | +5% | −15% | +27% | −23% | +8% |
| EBITDA margin | 35.7% | 37.1% | 32.1% | 40.4% | 35.4% | 39.7% | 37.1% | 43.7% | 36.0% | 45.7% |
| Other income, % of PBT | 16% | 14% | 15% | 8% | 12% | 21% | 6% | 19% | 17% | 20% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 30% | 19% | 23% | 54% | 27% | 24% | 29% | 32% | 17% | 29% |
| Net profit | ₹82.0 cr | ₹162 cr | ₹124 cr | ₹83.0 cr | ₹136 cr | ₹173 cr | ₹93.0 cr | ₹190 cr | ₹120 cr | ₹211 cr |
| YoY | — | — | — | — | +66% | +7% | −25% | +129% | −12% | +22% |
| Core profit YoY | — | — | — | — | +65% | +6% | −11% | +38% | −27% | +31% |
| EPS | ₹1.47 | ₹2.90 | ₹2.22 | ₹1.48 | ₹2.42 | ₹3.09 | ₹1.65 | ₹3.38 | ₹2.13 | ₹3.75 |
| Flags | · | · | · | · | ✓ | ✓ | ✓ | 1 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Anthem Biosciences Ltd. reported revenue of ₹540 cr (+59.3% on the year) and net profit of ₹136 cr (+65.9% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +64.6% on the year, against +65.9% for reported profit.
None of the 7 checks that could run raised a question.
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