Gujarat Themis Biosyn Limited announced its unaudited financial results for the quarter ended December 31, 2025, showcasing robust operational performance in the pharmaceutical sector. The company reported strong revenue growth with net profit of ₹125 crores compared to ₹130 crores in the corresponding quarter of the previous year, while revenue increased to ₹434 crores from ₹395 crores year-on-year.

Financial Performance Overview

The company delivered solid financial results for Q3FY26, demonstrating consistent growth across key metrics:

For the nine months ended December 31, 2025, the company achieved revenue from operations of ₹12,158.98 lakhs compared to ₹11,306.37 lakhs in the corresponding period of the previous year, representing a growth of 7.54%. Net profit for the nine-month period stood at ₹3,579.03 lakhs.

Management Commentary and Strategic Outlook

Commenting on the results, Dr. Sachin Patel, Director, highlighted the company's consistent performance and expansion initiatives. "The third quarter performance has been well in line with expectations, continuing on the momentum of the previous quarters. Consistency in volumes reflects a healthy demand scenario for our products, while tight cost optimizations have kept margins stable," he stated.

The company has completed its new fermentation facility, with production of existing products already underway. This additional capacity will enable Gujarat Themis Biosyn to ramp up supply capability to cater to a larger market. The company's R&D spend during the nine-month period was approximately 3% of revenue, focusing on new product development.

Operational Highlights and Expansion

The company's operational efficiency remained strong with total expenses of ₹2,691.11 lakhs for Q3FY26. Key expense components included cost of raw materials consumed at ₹662.40 lakhs, employee benefits expense of ₹475.68 lakhs, and power costs of ₹607.42 lakhs. The company benefited from a favorable change in inventories of finished goods, which contributed ₹79.85 lakhs to the bottom line.

In the API block, validation batches have been completed as part of the company's forward-integration strategy into providing fermentation-based as well as synthetic APIs, targeting key export markets. The company is also setting up a hybrid wind-plus-solar power plant in Gujarat for captive consumption, which will reduce power costs and dependence on the grid while lowering carbon footprint.

Leadership Transitions

The Board of Directors approved significant leadership changes to strengthen the organization's management structure:

Krupesh Patel brings 15 years of extensive experience across pharmaceutical, steel, consumer durables, and defense sectors. He currently serves as Assistant General Manager with Themis Medicare Limited and holds qualifications including MBA (Finance), Cost and Management Accountant (ICWA), Company Secretary (CS), and Law degree (LLB).

Regulatory Compliance and Future Outlook

The company recognized an incremental impact of ₹13.36 lakhs in its Q3FY26 results due to the implementation of four Labour Codes notified by the Government of India on November 21, 2025. The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 5, 2026.

As one of India's few fermentation-based intermediate manufacturers in the pharmaceutical field, Gujarat Themis Biosyn continues to focus on expanding its product portfolio and targeting both domestic and export markets through its enhanced manufacturing capabilities.

Themis Medicare Limited has pledged 3,50,000 equity shares of Gujarat Themis Biosyn Limited to Jio Credit Limited on January 12, 2026, as part of a strategic financing arrangement. The disclosure was made under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Share Pledge Details

The pledge transaction involves key financial parameters that reflect Themis Medicare's shareholding structure in Gujarat Themis Biosyn:

Shareholding Position

Themis Medicare Limited maintains a significant stake in Gujarat Themis Biosyn, with the recent pledge affecting its encumbered shareholding position:

Purpose and Strategic Rationale

The share pledge serves a specific financial objective for Themis Medicare Limited. The company has entered into a facility cum pledge agreement with Jio Credit Limited to access borrowing facilities worth ₹10.00 crores. The primary purpose of this arrangement is to facilitate the repayment of existing high-interest-bearing loans, thereby reducing the overall finance cost burden on the company.

Regulatory Compliance

The disclosure was filed on January 14, 2026, in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. Gujarat Themis Biosyn Limited's shares are listed on both BSE Limited and National Stock Exchange of India Limited, making the regulatory disclosure mandatory for such encumbrance transactions.

The pledge represents a routine corporate financing activity where promoter companies utilize their shareholdings as collateral to access favorable borrowing terms and optimize their capital structure.