Themis Medicare Reports Q2 Loss, Withdraws GTBL Merger Scheme
Themis Medicare reported significant losses for Q2 FY26 in both standalone and consolidated results, with revenue declining. The company also withdrew its merger scheme with Gujarat Themis Biosyn Limited and initiated the dissolution of a UK subsidiary.
The significant year-over-year decline in revenue and the shift from net profit to net loss are major financial indicators with high impact. The withdrawal of the amalgamation scheme is a strategic decision that also carries a high impact on the company's future business focus and structure.
The company experienced a substantial decline in revenue and a shift from profit to loss for both standalone and consolidated results compared to the previous year. Additionally, the withdrawal of a strategic amalgamation scheme and the write-off related to a subsidiary's dissolution contribute to a negative outlook.
* Themis Medicare Limited's Board of Directors, in a meeting on November 13, 2025, approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. * Standalone Financial Performance (Quarter ended September 30, 2025 vs. September 30, 2024): * Revenue from Operations (Net) decreased to ₹7,799.41 lakhs from ₹11,700.99 lakhs. * The company reported a loss of ₹535.55 lakhs, a significant decline from a profit of ₹987.04 lakhs in the corresponding quarter of the previous year. * Basic Earnings Per Share (EPS) for the quarter was (₹0.58) compared to ₹1.08 previously. * Consolidated Financial Performance (Quarter ended September 30, 2025 vs. September 30, 2024): * Revenue from Operations (Net) decreased to ₹7,799.41 lakhs from ₹11,700.99 lakhs. * The company reported a loss of ₹361.56 lakhs, a significant decline from a profit of ₹1,429.33 lakhs in the corresponding quarter of the previous year. * Basic Earnings Per Share (EPS) for the quarter was (₹0.39) compared to ₹1.55 previously. * Corporate Actions: * The Board resolved to withdraw the Scheme of Amalgamation with Gujarat Themis Biosyn Limited (GTBL) on June 13, 2025. GTBL decided to focus on its core fermentation-based pharmaceutical business, leading to the reconsideration and withdrawal of the proposed merger. Themis Medicare will now focus on its core domestic formulations business. * M/s. Carpo Medicals Limited (UK), a wholly-owned subsidiary, was struck off with dissolution effective April 14, 2025. The company has provided for an investment of ₹0.76 lakhs and receivables and advances of ₹128.63 lakhs as an exceptional item, pending Reserve Bank of India (RBI) approval for the write-off. * The financial results were reviewed by the Audit Committee and approved by the Board of Directors on November 13, 2025.
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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 high impact, which is the band that most often changes something.
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