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Indian contract research, development and manufacturing (CRDMO) company providing drug discovery, development and manufacturing services to global pharma/biotech clients.
Indian contract research, development and manufacturing (CRDMO) company providing drug discovery, development and manufacturing services to global pharma/biotech clients.
In one line: India's smaller Lonza/Catalent.
Moat: narrow (process know-how, customer qualification, regulatory licence). Regulatory-approved manufacturing facilities and scientific expertise create switching costs for pharma clients.
Headquarters: Bengaluru, India · Founded: 2006 · Employees: 3,302
Size Anthem Biosciences (ANTHEM.NS) is an India Health Care company (Biotechnology) with a market value of $5.46B, the 200th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹915.55 on 6 Nov 2026.
Performance Over six months the shares gained 17.5%, against -1.2% for the median peer and 0.0% for the India market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 1.2% over the last twelve months (peer median +11.5%); the operating margin is 34.8% (peer median -14.1%).
Valuation It trades at 69.9× forward earnings against a peer median of 40.9× (4th most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.7 points above its cost of capital (10.7% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹20.5B | ₹21.2B | ₹18.4B | ₹14.2B | ₹10.6B |
| Revenue growth | — | +15% | +30% | +34% | — |
| Gross profit | ₹9.20B | ₹7.97B | ₹6.70B | ₹5.06B | ₹4.49B |
| EBITDA | ₹8.46B | ₹8.61B | ₹6.83B | ₹5.15B | ₹4.35B |
| Net income | ₹6.14B | ₹5.92B | ₹4.51B | ₹3.67B | ₹3.85B |
| Free cash flow | n/a | ₹7.06B | ₹644M | -₹1.18B | ₹1.54B |
| Capital expenditure | n/a | ₹2.11B | ₹2.61B | ₹2.97B | ₹1.95B |
| Total debt | ₹412M | ₹539M | ₹1.13B | ₹2.39B | ₹1.26B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Anthem Biosciences ANTHEM.NS | $5.46B | +17% | -1% | 35% | 69.9× | 36.7% |
| Syngene International SYNGENE.NS | $1.78B | -11% | -6% | 13% | 67.8× | 35.3% |
| Divi's Laboratories DIVISLAB.NS | $29.0B | +54% | +16% | 31% | 82.0× | 50.9% |
| Laurus Labs LAURUSLABS.NS | $13.3B | +94% | +23% | 24% | 77.0× | 50.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ANTHEM.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.2% | +2.6% | 11th highest of 21 |
| 6-month return | +17.5% | -1.2% | 7th highest of 21 |
| Distance from 52-week high | -6.3% | -27.3% | 3rd highest of 21 |
| Revenue growth (TTM) | -1.2% | +11.5% | 7th lowest of 16 |
| Operating margin | 34.8% | -14.1% | 2nd highest of 16 |
| Forward P/E | 69.9× | 40.9× | 4th most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 36.7% | 28.4% | 2nd most demanding of 6 |
| Growth delivered (Del g) | +26.2% | +16.4% | 2nd highest of 6 |
| Hurdle (Req g minus delivered) | +10.5 pp | +11.9 pp | 3rd least demanding of 6 |
| ROIC minus cost of capital | +9.7 pp | -10.6 pp | 3rd highest of 12 |
| EV / EBITDA | 60.1× | n/a | — |
| Net debt / EBITDA | -0.8× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anthem Biosciences ANTHEM.NS | India | $5.46B | +17% | -1% | 35% | 69.9× | 36.7% | +26.2% |
| Cogent Biosciences COGT | United States | $5.49B | -9% | n/a | n/a | n/a | n/a | n/a |
| Chongqing Zhifei Biological Products 300122.SZ | China | $5.35B | -2% | -28% | -210% | n/a | -6.4% | -10.0% |
| Hangzhou Tigermed Consulting 300347.SZ | China | $5.58B | -6% | +16% | 10% | 110.0× | 28.4% | +16.4% |
| Scholar Rock SRRK | United States | $5.72B | -3% | n/a | n/a | n/a | n/a | n/a |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 13.7× | n/a | n/a |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | n/a | n/a | n/a | n/a |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 17% | 13.7× | n/a | n/a |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -2,059% | n/a | n/a | n/a |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | n/a | n/a | n/a |
| Kodiak Sciences KOD | United States | $6.24B | +142% | n/a | n/a | n/a | n/a | n/a |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -35% | n/a | n/a | n/a |
| Immunovant IMVT | United States | $6.31B | +5% | n/a | n/a | n/a | n/a | n/a |
| Joinn Laboratories (China) 603127.SS | China | $4.58B | +15% | +12% | -4% | 40.9× | n/a | n/a |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -1% | 30.2× | 32.2% | +7.1% |
| Adaptive Biotechnologies ADPT | United States | $4.47B | +103% | +50% | -12% | n/a | n/a | n/a |
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -4,056% | n/a | n/a | n/a |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 75.5× | n/a | n/a |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 86.1× | 18.7% | +85.4% |
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | n/a | n/a | n/a |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | n/a | 41.8% | +16.6% |