Themis Medicare Q3 FY26: Revenue ₹90 Cr, EBITDA ₹9.8 Cr, PAT ₹10 Cr
Themis Medicare reported Q3 FY26 revenue of ₹90.13 crore, down 3.9% YoY. EBITDA rose 14.9% to ₹9.80 crore, with margins improving to 10.87%. PAT surged to ₹10.09 crore from ₹0.52 crore in Q3 FY25. The API business doubled YoY, offsetting formulation sluggishness. The company aims to lead in the hospital business.
While the Q3 results show a strong profit recovery, the significant year-on-year decline in revenue for the nine-month period and the loss in EBITDA for 9M FY26 indicate mixed performance. The positive outlook and strategic initiatives warrant a medium impact assessment.
The company reported a significant turnaround in profitability for Q3 FY26, with a substantial increase in PAT and improved EBITDA margins, despite a slight dip in revenue. The growth in the API business and strategic focus on the hospital segment are positive indicators.
Themis Medicare Limited announced its financial results for the third quarter (Q3) and nine months (9M) of FY26. For Q3 FY26, the company reported consolidated revenue of ₹90.13 crore, a decrease of 3.9% year-on-year from ₹93.81 crore in Q3 FY25. However, EBITDA saw a significant increase of 14.9% to ₹9.80 crore from ₹8.53 crore in the same period last year. EBITDA margin improved by 178 basis points to 10.87% from 9.09% in Q3 FY25, attributed to cost rationalization measures.
Profit After Tax (PAT) for Q3 FY26 surged to ₹10.09 crore, a substantial increase from ₹0.52 crore in Q3 FY25. Basic Earnings Per Share (EPS) stood at ₹1.10 for the quarter, compared to ₹0.06 in the prior year.
For the nine months ended September 30, 2025 (9M FY26), consolidated revenue stood at ₹265.71 crore, a 20.4% decline from ₹333.81 crore in 9M FY25. EBITDA for the nine-month period was a loss of ₹3.37 crore, compared to a profit of ₹54.83 crore in 9M FY25. PAT for 9M FY26 was a loss of ₹7.74 crore, a significant drop from a profit of ₹39.50 crore in 9M FY25.
Dr. Sachin Patel, Managing Director & CEO, commented that Q3 witnessed a positive turnaround in profitability despite pressure on the topline, with the API business more than doubling year-on-year. He noted that disruptions in a significant line of business continued but a positive development is expected soon. The company aims to expand its hospital business and focus on high-margin products, while continuing to improve operational efficiency and R&D spending (3% of revenue).
The investor presentation also highlighted the company's strategic focus on becoming a leader in the hospital business in India, with current revenue contribution from this segment at 49% for 9M FY26 and 42% for FY24-25. The company has state-of-the-art manufacturing facilities and exports to over 44 countries.
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Themis Medicare Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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