Gujarat Themis Biosyn Ltd
BSE:506879
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Gujarat Themis Biosyn Ltd
BSE:506879
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Gujarat Themis Biosyn Ltd
Gujarat Themis Biosyn Ltd. operates as a pharmaceutical company. The company is headquartered in Mumbai, Maharashtra. The firm operates through manufacturing of bulk drugs segment. The firm's products include Rifamycin-S, which is an intermediate for Rifampicin for the treatment of tuberculosis (TB), and Lovastatin. The firm's research and development division focuses on developing fermentation cultures. The firm's plant is located at Valsad, Gujarat.
Gujarat Themis Biosyn Ltd. operates as a pharmaceutical company. The company is headquartered in Mumbai, Maharashtra. The firm operates through manufacturing of bulk drugs segment. The firm's products include Rifamycin-S, which is an intermediate for Rifampicin for the treatment of tuberculosis (TB), and Lovastatin. The firm's research and development division focuses on developing fermentation cultures. The firm's plant is located at Valsad, Gujarat.
Revenue Drop: Q2 FY'24 revenue fell to INR 39.65 crores from INR 47.69 crores last year due to normalization of inventory sales.
Margin Pressure: Gross margin improved on product mix, but EBITDA margin declined by 875 bps YoY to 42.42% due to higher R&D and workforce costs, plus some one-off expenses.
CapEx Progress: API block and R&D facility on track for December 2023 commissioning; further fermentation expansion expected by 2025.
Rifapentine Focus: Forward integration into Rifapentine API seen as a high-margin, high-growth opportunity, with initial capacity of 7-8 MT/month.
Full Capacity Utilization: Current operations running at or near full capacity (almost 100%), with sales matching production.
Guidance Realism: Management confirmed that previous INR 200 crore revenue target for FY24 is not achievable this year; INR 40 crore/quarter is the likely run-rate until new capacity comes online.
Significant CapEx Upside: CapEx plans may double from original INR 200 crores due to new project opportunities.
Customer Concentration: Two main customers (Lupin and Optimus), but relationships described as stable and collaborative.
