Aptus Pharma has approved a ₹44.88 crore preferential allotment of equity shares to fund its transition from a marketing-led model to an integrated pharmaceutical enterprise with in-house manufacturing capabilities. The Board of Directors finalized the pricing during its meeting on Monday, August 17, 2026, based on a valuation report by Registered Valuer CS Amrish N. Gandhi with a relevant date of August 14, 2026.

The company plans to utilize ₹25 crore for capital expenditure, including land acquisition and plant structure, ₹10 crore for working capital requirements, and ₹9.88 crore for general corporate purposes such as debt reduction and strategic growth. These proceeds are proposed to be utilized within 36 months from receipt. The initiative aims to meet approximately 20% of product requirements through in-house manufacturing, strengthening control over quality and supply chains.

Allotment Details and Investor Profile

The preferential issue involves the allotment of 16,02,870 equity shares to 190 investors at ₹280 per share. This final count is slightly lower than the initial 192 investors identified in the intimation dated August 12, 2026. The diverse investor base includes individuals, Hindu Undivided Families (HUFs), and private limited companies.

Post-Issue Shareholding Pattern

The pre-issue aggregate shareholding of the listed allottees was 5,33,800 shares, representing 3.11% of the company's equity capital. Following the allotment, their combined holding increases to 8,43,980 shares, or 4.50%.

Strategic Expansion Plans

Beyond manufacturing, Aptus Pharma intends to strengthen its sales and distribution presence across West, Central, East, and South India to achieve broader Pan-India operations. The company also plans to explore opportunities in select international markets, including Africa, the Middle East, and Latin America, through product registrations and export partnerships. These expansions are subject to commercial viability and regulatory approvals.

Corporate Governance and AGM

The Board took on record compliance certificates from the Practicing Company Secretary (PCS) and the Statutory Auditor regarding the preferential issue under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Sections 42 and 62 of the Companies Act, 2013. The proposal is subject to approval by members at the 16th Annual General Meeting (AGM) scheduled for Monday, September 14, 2026, via Video Conferencing or Other Audio-Visual Means.

In compliance with SEBI's Insider Trading Regulations, the trading window for designated persons remains closed until 48 hours after the dissemination of the board meeting outcome to the stock exchanges. The intimation was signed by Tejash Maheshchandra Hathi, Managing Director of Aptus Pharma Ltd.

Aptus Pharma Limited reported a sharp acceleration in top-line growth for the fiscal year ended March 31, 2026, with revenue from operations rising 89.7% year-on-year to ₹46.57 crore. The company, listed on the BSE SME platform, attributed the surge to its diversified portfolio of over 250 formulations and an expanding distribution network spanning more than 25,000 retailers.

aptus pharma delivered net profit after tax (PAT) of ₹4.62 crore for FY26, up 49.0% from ₹3.10 crore in the previous year. Earnings per share stood at ₹7.78, compared to ₹6.37 in FY25. The second half of the fiscal year saw particularly strong momentum, with H2 revenue jumping 117.5% to ₹32.20 crore against ₹14.80 crore in H2 FY25.

Financial Performance

The company’s asset-light business model, which relies on contract manufacturing through WHO-GMP-certified partners, allowed it to scale operations without heavy capital expenditure. However, this rapid expansion came with margin compression.

Gross profit grew 62.4% to ₹25.20 crore but declined as a percentage of revenue from 63.2% in FY25 to 54.1% in FY26. Operating expenses rose significantly, with employee benefits increasing by 45.9% to ₹5.21 crore and other expenses surging 76.8% to ₹12.55 crore, reflecting investments in sales force and market penetration.

What the Numbers Show

The divergence between revenue growth and profitability metrics highlights the cost of scaling for Aptus Pharma. While revenue nearly doubled, operating expenses grew at a faster rate than gross profit, leading to a contraction in both EBITDA and PAT margins. Specifically, other expenses alone accounted for approximately 50% of the gross profit in FY26, indicating that a significant portion of operational gains was absorbed by selling, general, and administrative costs during this expansion phase.

Balance Sheet & Liquidity

Total assets more than doubled to ₹43.53 crore from ₹21.92 crore in FY25, driven primarily by a rise in current assets. Trade receivables surged 232.6% to ₹18.76 crore, while inventories increased 92.2% to ₹13.57 crore. This aggressive build-up in working capital components outpaced the growth in cash reserves, which fell to ₹1.03 crore from ₹5.21 crore a year earlier.

On the liabilities side, shareholders’ funds expanded to ₹23.35 crore, supported by retained earnings. Long-term borrowings decreased to ₹0.52 crore from ₹2.62 crore, while short-term borrowings remained relatively stable at ₹6.66 crore.

Strategic Outlook

Aptus Pharma outlined a roadmap for pan-India presence by March 2029 and global expansion into Asia, Latin America, and Africa by March 2028. The company also plans to transition toward integrated manufacturing, targeting 20% own-manufacturing capacity by 2028 to strengthen quality control and supply chain efficiency.