Gujarat Themis reports 47.48% operating margin in Q1FY27
Management attributed the margin performance to higher volumes and economies of scale; the stock fell -0.80% on the filing day.
Filed 07 Aug 2026, 13:12 IST · Gujarat Themis Biosyn Ltd (GUJTHEM)
Key takeaways
- Consolidated operating profit of Rs 20.79 cr on revenue of Rs 43.79 cr produced a 47.48% operating margin.
- Other income was only Rs 0.13 cr against profit before tax of Rs 15.17 cr, making reported profit primarily operating-led.
- The stock fell -0.80% on the filing day, while traded volume reached 12.66 times its reference level.
Price around the results
Q1FY27 profit was driven by operations
Gujarat Themis reported consolidated net profit of Rs 11.07 cr and EPS of Rs 1.02 in Q1FY27. Operating profit of Rs 20.79 cr was the main earnings driver, while other income was Rs 0.13 cr against profit before tax of Rs 15.17 cr. The tax rate was 27.03%.
Margin stood well above the healthcare peer median
The 47.48% operating margin was 23.67 percentage points above the 23.81% median for the 51 healthcare companies that had reported the quarter. Management said higher sales volumes created economies of scale and improved EBITDA margin. With no sequential or year-on-year comparison provided, the quarter’s cost and margin direction cannot be assessed across periods.
New assets and power project shape the operating narrative
Management said the new R&D and API units are operational and that development of the new fermentation facility is complete. It also said the hybrid wind-solar plant is expected to reduce power costs, grid dependence and the carbon footprint, while providing more consistent green power across seasons. Management said the MicroBiopharm acquisition remains subject to regulatory approvals and that the company is identifying products with domestic and export potential.
Shares slipped on the results filing day
The stock declined -0.80% on 7 August, with the reported volume ratio at 12.66 times. The reaction was accompanied by a -0.54% move relative to the comparison benchmark.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹44 cr |
| Other income | ₹0 cr |
| Expenses | ₹23 cr |
| Operating profit | ₹21 cr |
| Operating margin (%) | 47.48% |
| Interest | ₹2 cr |
| Depreciation | ₹4 cr |
| Profit before tax | ₹15 cr |
| Tax | ₹4 cr |
| Net profit | ₹11 cr |
| EPS (₹) | ₹1.02 |
Operating margin of 47.48% compares with a Healthcare sector median of 23.81% across 51 peers that have reported Q1FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -0.80% | -0.54% |
Volume on the results session was 12.66× its 20-day average.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company reported healthy sales volumes and a stable market demand scenario in Q1 FY27.
- The company said higher volumes created economies of scale and improved its EBITDA margin in Q1 FY27.
Guidance & outlook
- The hybrid power plant is expected to reduce power costs, grid dependence and the company’s carbon footprint.
- The MicroBiopharm acquisition’s expected close is subject to regulatory approvals.
- The hybrid wind-solar project is designed to provide more consistent and reliable green power across seasons.
- The company is identifying new products with domestic and export potential.
Expansion
- The company’s new R&D and API units are operational, and development of its new fermentation facility is complete.
- The Sanofi brand acquisition is expected to provide access to new distribution networks in key overseas markets.
New products
- The company is developing new products in line with its business strategy.
What to watch
- Whether consolidated operating margin remains above 47.48%.
- Whether the tax rate stays near 27.03% as net profit develops from Rs 11.07 cr.
- Whether revenue moves from the Rs 43.79 cr Q1FY27 base as new products and operating units progress.