Aptus PharmaShare price, financial results, shareholding and management
- Market cap
- ₹798 cr
- Stock P/E
- 172.6peers 19.4
- Book value
- ₹13.6
- Price to book
- 34.19
- EV / operating profit
- -
- Market cap to sales
- 17.12
- ROCE · FY26
- 30.0%
- ROE · FY26
- 30.5%
- ROE, 3-year average
- 53.3%
- Operating margin · FY26
- 16.0%peers 18.6%
- Sales growth, 3 years
- 49.6%
- Profit growth, 3 years
- 189.7%
- Debt to equity
- 0.31peers 0.29
- Borrowings
- ₹7.2 cr
- Interest cover
- 9.0×
- Cash from business / op. profit
- -75%
- Debtor days
- 147
- Pledged
- 0.00%
- Promoter holding
- 72.89%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 686
- 52-week high / low
- ₹511 / ₹54
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Aptus Pharma share price chart
Close on 6 Nov 2026 · +0.92% on the day · Vol 4,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +20.7%
- 3 months
- +66.2%
- 6 months
- +173.5%
- 1 year
- +738.7%
- Traded a day, 20 days
- ₹0.92 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +90% | +49% |
| 3 years, a year | +50% | +190% |
| Latest half, H2 FY26 | +118% | +60% |
About Aptus Pharma: business, products and customers
Aptus Pharma markets its own brands of common medicines to doctors and chemists, mostly in Gujarat, and has them made by outside drug makers. Its shares trade on BSE SME.
Aptus Pharma, based in Gujarat, markets more than 250 branded generic medicines across therapies such as anti infectives, stomach care, pain, allergy and respiratory, heart and diabetes, and has added over the counter, wellness and personal care products. Medical representatives visit doctors to win prescriptions, and distributors and stockists carry the products to chemists; the company says it works with more than 10,000 doctors, 200 distributors and 25,000 retailers.
It owns no factory. Two units in Gujarat make products under loan licence agreements and other makers supply against purchase orders, so the company buys finished medicines and its costs are mostly purchases, field staff and promotion rather than plant. That keeps fixed assets small, but gross margin moves with what it pays its makers and with the product mix, and growth needs money for stock and for credit given to distributors.
Read more about the business
The offer document compares it with Zota Health Care, Sunrest Lifescience and Lincoln Pharmaceuticals, other listed companies in generic medicines, while noting that they are not strictly comparable given its size and model.
What is new: the company plans to raise ₹44.9 cr through a preferential issue, mostly for land, a manufacturing plant and storage, and says it aims to make about a fifth of its products itself by 2028. It also plans to reach other states, aiming for a pan India presence by March 2029, and to start export services.
From the offer document (red herring prospectus), the FY26 annual report, the August 2026 investor presentation and the CARE Ratings note of 29 June 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 50% a year over three years.
- It earns a high return on the money it uses: ROCE 30% in FY26.
- The promoters own a large part of the company: 72.89%.
To watch
- Shareholder approval and receipt of the ₹44.9 cr preferential issue at ₹280 a share (Annual report FY26, p.8 and p.66).
- Progress on its own manufacturing plant, aimed at about a fifth of products by 2028 (Investor presentation, August 2026, p.28).
- Sales outside Gujarat, with marketing planned in West Bengal, Maharashtra, Goa and Rajasthan (CARE Ratings note, 29 June 2026, p.1).
- Customer dues of ₹18.8 cr at March 2026 and whether cash from operations turns positive (Investor presentation, August 2026, p.25).
- Customers take longer to pay than before: 147 days in FY26, against 63 in FY23.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Aptus Pharma revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Aptus Pharma half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 9.76 | 14.80 | 14.38 | 32.20 |
| Expenses | 7.78 | 11.93 | 11.42 | 27.70 |
| Operating profit | 1.98 | 2.87 | 2.95 | 4.49 |
| OPM | 20.3% | 19.4% | 20.5% | 14.0% |
| Interest | 0.11 | 0.36 | 0.45 | 0.35 |
| Depreciation | 0.11 | 0.15 | 0.16 | 0.25 |
| Profit before tax | 1.76 | 2.44 | 2.35 | 4.02 |
| Net profit | 1.31 | 1.79 | 1.75 | 2.87 |
Aptus Pharma profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 13.90 | 17.81 | 24.56 | 46.58 |
| Expenses | 13.28 | 16.27 | 19.71 | 39.13 |
| Operating profit | 0.62 | 1.54 | 4.85 | 7.45 |
| OPM | 4.5% | 8.7% | 19.8% | 16.0% |
| Other income | 0 | 0.03 | 0.08 | 0.13 |
| Interest | 0.14 | 0.24 | 0.47 | 0.80 |
| Depreciation | 0.18 | 0.21 | 0.27 | 0.41 |
| Profit before tax | 0.30 | 1.12 | 4.19 | 6.38 |
| Tax rate | 33.3% | 28.6% | 26.0% | 27.6% |
| Net profit | 0.19 | 0.80 | 3.10 | 4.62 |
| EPS ₹ | 2.38 | 10 | 2.48 | 7.78 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Aptus Pharma profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 4.5% | 8.7% | 19.8% | 16.0% |
| Tax rate | 33.3% | 28.6% | 26.0% | 27.6% |
| ROCE | · | 26.5% | 38.2% | 30.0% |
| ROE | · | 58.4% | 70.9% | 30.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Aptus Pharma debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Aptus Pharma balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.30 | 0.30 | 5 | 6.86 |
| Reserves | 0.67 | 1.47 | 1.97 | 16.49 |
| Net worth | 0.97 | 1.77 | 6.97 | 23.35 |
| Borrowings | 2.22 | 5.31 | 10.36 | 7.18 |
| Other liabilities | 3.02 | 2.95 | 4.59 | 13.01 |
| Total liabilities | 6.21 | 10.03 | 21.92 | 43.54 |
| Fixed assets | 0.52 | 0.63 | 0.99 | 2.77 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 5.69 | 9.40 | 20.93 | 40.77 |
Aptus Pharma cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | -0.18 | -2.17 | -1.84 | -5.60 |
| Cash from investing | -0.35 | -0.30 | -0.54 | -6.37 |
| Cash from financing | 0.81 | 2.86 | 6.68 | 7.79 |
| Net cash flow | 0.28 | 0.39 | 4.30 | -4.18 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 63 | 69 | 84 | 147 |
| Inventory days | 176 | 184 | 285 | 232 |
| Days payable | 104 | 72 | 53 | 139 |
| Cash conversion cycle | 135 | 180 | 316 | 239 |
| Working capital days | 52 | 67 | 36 | 117 |
Aptus Pharma peers and competitors
Listed SME companies in the same industryBy sales, Aptus Pharma is number 23 of the 34 listed SME companies in pharmaceuticals & biotechnology.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Onyx Biotec | 68 | - | 69.5 | -0.2 | 4.9% | 0.27 |
| Curis Lifesciences | 154 | 22.3 | 60.6 | 6.9 | 18.4% | 0.46 |
| Aptus Pharma | 798 | 172.6 | 46.6 | 4.6 | 16.0% | 0.31 |
| Bio Medica Laboratories | 205 | 17.4 | 43.1 | 11.8 | 45.6% | 1.51 |
| Himalaya Nutravedics India | 127 | 17.1 | 43.1 | 7.4 | 18.8% | 0.31 |
| Amwill Health Care | 89 | 8.0 | 43 | 11 | 30.0% | 0.00 |
| Vilin Bio Med | 79 | 41.1 | 42.3 | 1.9 | 7.6% | 0.01 |
| Accretion Nutraveda | 214 | 42.1 | 33.6 | 5.1 | 20.5% | 0.12 |
| Goldline Pharmaceutical | 30 | 7.4 | 31.2 | 4.1 | 22.7% | 0.88 |
| Cian Healthcare | 67 | - | 28 | -23 | -24.0% | 3.22 |
| Asston Pharmaceuticals | 83 | 21.5 | 25.5 | 3.9 | -2.0% | 0.13 |
| Median of the 10 others | 86 | 19.5 | 42.6 | 4.6 | 18.6% | 0.29 |
Aptus Pharma shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
Aptus Pharma shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|
| Promoters | 72.89% | 72.89% | 72.89% | 72.89% |
| Foreign investors (FIIs) | 10.03% | 0.00% | 0.00% | - |
| Indian institutions (DIIs) | 2.80% | 0.00% | 0.00% | - |
| Number of shareholders | 213 | 302 | 337 | 686 |
Aptus Pharma study: the business from its own documents
Read from 7 of the company's own documentsAptus Pharma key facts from the filings
Each figure with the document it comes from
- FY26 sales
- ₹46.6 cr
- Up 89.7% on FY25, with profit after tax up 49.0% to ₹4.6 cr.Investor presentation, August 2026, p.24
- Gross margin
- 54.1%
- In FY26, down from 63.2% in FY25, and 51.7% in the second half alone.Investor presentation, August 2026, p.23 and p.24
- Sales in Gujarat
- 99.20%
- Share of FY25 revenue; FY24 and FY23 sales were all in Gujarat.Offer document, p.39
- Top ten customers
- 48.84%
- Share of FY25 revenue, down from 68.37% in FY23; the largest gave 8.83%.Offer document, p.33
- Contract makers
- Top five: about 78%
- Share of FY25 purchases from the five largest of seven contract manufacturers.CARE Ratings note, 29 June 2026, p.2
Show 5 more facts
- Money owed by customers
- ₹18.8 cr
- Trade receivables at March 2026, up from ₹5.6 cr a year earlier; stock rose to ₹13.6 cr from ₹7.1 cr.Investor presentation, August 2026, p.25
- Cash from operations
- ₹-5.6 cr
- In FY26, against profit of ₹4.6 cr, as stock and receivables grew with sales.CARE Ratings note, 29 June 2026, p.2
- Preferential issue
- ₹44.9 cr at ₹280
- Up to 16,02,870 shares approved by the board on 17 August 2026, with ₹25 cr for land, a plant, storage and vehicles; awaiting shareholder approval.Annual report FY26, p.8 and p.41
- IPO and bonus
- ₹13.0 cr
- All new shares, listed on 30 September 2025; three bonus shares for every two followed in May 2026.CARE Ratings note, 29 June 2026, p.2; annual report FY26, p.8
- Credit rating
- CARE BB; Stable
- Issuer rating assigned in June 2026, held back by small size, Gujarat concentration and stretched liquidity.CARE Ratings note, 29 June 2026, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it aims to make about 20% of its products in its own plant by 2028, to build an export presence by March 2028 and to reach every region of India by March 2029. It plans to use ₹25 cr of the proposed ₹44.9 cr preferential issue for land, a plant, storage and vehicles and ₹10 cr for working capital, within 36 months of receiving the money. The annual report says the issue still needs shareholder and exchange approval. CARE Ratings notes the company also plans to expand marketing into West Bengal, Maharashtra, Goa and Rajasthan.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Aptus Pharma earns money by building brands of common medicines with doctors and chemists in Gujarat and buying the medicines from outside makers.
Its weak spots are dependence on one state and on contract makers, and money tied up in stock and distributor credit that has kept cash below profit.
WatchCan it set its own prices?Government price controls and a crowded generic market limit pricing, and its gross margin fell in the latest year.
WatchHow strong is it against rivals?Its strength is a close network of doctors and distributors in Gujarat, with no plant or patents of its own.
AverageWho are its customers?Sales are spread over many distributors and stockists, but almost all of them are in one state.
WatchDoes it need a lot of money?No plant is needed today, but stock and customer credit take a lot of money, and the planned factory will add spending.
AverageCan it keep finding new work?New products and new divisions have driven growth, and there is room to move beyond Gujarat if the company can build sales teams there.
AverageDo good and bad years swing a lot?Medicines are needed all year round, and sales have risen each year, but margins have moved with growth spending and product mix.
Who runs Aptus Pharma?
Promoters, directors and officers; tap a name for the background
TMTejash Maheshchandra HathiPromoter and Managing Director
Holds an MBA in marketing and management accounting from Saurashtra University (2003) and has over 20 years in the pharmaceutical industry. A director since the company began in 2010 and Managing Director from January 2024; a member of the executive committee of the Indian Drug Manufacturers Association, Gujarat chapter.
Offer document, p.186 and p.198GVGhanshyam Vinubhai PansuriyaPromoter and Chief Executive Officer
Holds a BSc from Saurashtra University and a diploma in pharmacy; worked at Alkem Ulticare and Panacea Biotech. A director from 2010 to April 2024 and Chief Executive Officer from January 2025, in charge of marketing and sales growth.
Offer document, p.196 and p.200KHKapilbhai Hasmukhbhai ChandaranaPromoter and Chief Financial Officer
Holds a Bachelor of Social Work from Saurashtra University and an MBA in finance; spent 16 years in logistics and customs, including as zonal manager at Velji Dosabhai & Sons from 2005 to 2021. A director from 2010 to April 2024 and Chief Financial Officer from January 2025. The offer document states that Kapilbhai Hasmukhbhai Chandarana is the son of Jyotiben Chandarana and the brother in law of Tejash Maheshchandra Hathi.
Offer document, p.195 and p.196RNRiddhish Natwarlal TannaPromoter and Non Executive Director
A homeopathic practitioner with an MD in homeopathy from Sardar Patel University and an MBA in hospital management; has run Sadguru Clinic since 1997 and taught at homeopathic medical colleges. A director of Shree Giriraj Healthcare and Shree Giriraj Lifecare.
Offer document, p.186, p.187 and p.199MCMilly Chetan LalsetaPromoter
Holds a BHMS from Rajkot Homoeopathic Medical College (2001) and a postgraduate diploma in clinical cosmetology; a consultant homoeopath at Shraddha Hospital, Rajkot, and a lecturer for over 18 years. The offer document lists Chetan Shantilal Lalseta as the spouse of Milly Chetan Lalseta.
Offer document, p.198, p.199 and p.204CVChatrabhuj Vallabhbhai ButaniPromoter
Completed matriculation in 1990 and has been a partner in Janta Drug Agency, a pharmaceutical wholesaler, since 1995; a director of the company from 2010 to April 2024, with over three decades in pharmaceutical marketing and distribution.
Offer document, p.200GRGaurang Rameshchandra ThakkerPromoter
Holds a BE in mechanical engineering from L. E. Engineering College and a diploma in pharmacy; has 17 years in operations, distribution and hospital management and is involved in several ventures, among them Shree Giriraj Healthcare and Shree Giriraj Hospital.
Offer document, p.200 and p.201KMKripaliben Mayank ThakkerPromoter
Holds a BCom from Maharaja Krishnakumarsinhji Bhavnagar University (1999).
Offer document, p.201KPKunjal Piyush UnadkatPromoter
Holds a BSc from Saurashtra University (1999) and worked for two years as a management consultant at Shraddha Eye Hospital and Laser Center.
Offer document, p.201SHSejal Harit PalanIndependent Director
A practising company secretary since 2014 and an associate member of the Institute of Company Secretaries of India since 2012; holds a BCom, an LLB and an LLM from Saurashtra University.
Offer document, p.187Aptus Pharma latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹32.2 cr (+118%), net profit ₹2.9 cr (+60%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 72.89%.
Aptus Pharma announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateCompliance Certificate uner Reg. 74 (5) of SEBI (DP) Regulations, 2018PDF ↗
- Insider Trading / SASTClosure of trading window under Insider Trading CodePDF ↗
- Company UpdateIntimation of Investor Meeting/InteractionPDF ↗
- AGM/EGMScrutinizer''s Report on remote E-VotingPDF ↗
- AGM/EGMSummary of proceedings of the 16th Annual General Meeting of the Company held on 14th September, 2026PDF ↗
Aptus Pharma annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 Aug 2026 ↗read
- 31 May 2026 ↗read
- 28 Feb 2026 ↗read
- Credit ratings ↗read
Aptus Pharma share split, bonus and dividends
From the corporate actions the company announces on the exchange
- Bonus issueBonus issue 3:2ex-date 12 May 2026
Checks we ran on Aptus Pharma's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iBonus issue with ex-date 12 May 2026: earlier prices on this page are adjusted to the new share basis.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,71,50,000 shares).
- !The FY26 results imply 68,60,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹10.00) and FY25 (₹2.48) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Aptus Pharma
What does Aptus Pharma do?
Aptus Pharma markets its own brands of common medicines to doctors and chemists, mostly in Gujarat, and has them made by outside drug makers. Its shares trade on BSE SME.
What is the share price of Aptus Pharma?
₹465 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Aptus Pharma?
₹798 cr at the close on 6 Nov 2026, on 1,71,50,000 shares.
What is the P/E of Aptus Pharma?
172.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Aptus Pharma's revenue and profit?
Revenue ₹47 cr and profit after tax ₹5 cr in FY26.
Who are the promoters of Aptus Pharma?
Tejash Maheshchandra Hathi, Ghanshyam Vinubhai Pansuriya, Kapilbhai Hasmukhbhai Chandarana, Riddhish Natwarlal Tanna, Milly Chetan Lalseta, Chatrabhuj Vallabhbhai Butani, Gaurang Rameshchandra Thakker, Kripaliben Mayank Thakker, Kunjal Piyush Unadkat; promoters held 72.89% at 30 June 2026.
What is Aptus Pharma's website?
www.aptus-pharma.com
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Built from 3 investor presentations, 2 annual reports, 1 offer document, 1 credit rating note, 5 exchange announcements, 4 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.