Curis LifesciencesShare price, financial results, shareholding and management
- Market cap
- ₹143 cr
- Stock P/E
- 20.7peers 10.9
- Book value
- ₹58.6
- Price to book
- 3.02
- EV / operating profit
- 14.5
- Market cap to sales
- 2.36
- ROCE · FY26
- 21.2%
- ROE · FY26
- 21.7%
- ROE, 3-year average
- 48.5%
- Operating margin · FY26
- 18.4%peers 16.7%
- Sales growth, 3 years
- 19.6%
- Profit growth, 3 years
- 77.9%
- Debt to equity
- 0.46peers 0.29
- Borrowings
- ₹21.6 cr
- Interest cover
- 9.4×
- Cash from business / op. profit
- -148%
- Debtor days
- 68
- Pledged
- 0.00%
- Promoter holding
- 68.03%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 340
- High / low since listing
- ₹235 / ₹84
- 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.
Curis Lifesciences share price chart
Close on 6 Nov 2026 · +0.06% 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
- -12.3%
- 3 months
- +65.5%
- 6 months
- +36.5%
- Since IPO
- +38.4%
- Traded a day, 20 days
- ₹0.11 cr
- Taken for delivery
- 89%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +21% | +11% |
| 3 years, a year | +20% | +78% |
| Latest half, H2 FY26 | -5% | -32% |
About Curis Lifesciences: business, products and customers
Curis Lifesciences makes generic tablets, capsules, syrups, creams and eye ointments at its plant in Sanand, Gujarat, mostly for other drug companies and for exporters. Its shares trade on NSE Emerge.
Curis Lifesciences began in 2010 as Loreto Pharmaceuticals, a partnership that traded medicines, and became a company in 2016. It runs one WHO-GMP certified plant at GIDC Sanand II near Ahmedabad, with sections for tablets, capsules, oral liquids, creams and gels, and sterile eye ointments, and says it holds stability data for more than 1,200 formulations.
Most of its work is contract manufacturing: Curis buys the materials and makes medicines under a client's brand, either for Indian brand owners or for merchant exporters who ship them to markets in Africa, Asia and Latin America. Named clients include J B Chemicals and Pharmaceuticals, Troikaa Pharmaceuticals and Makers Laboratories. Job work on clients' own materials is being wound down, and the company's own brands, sold directly in Yemen and Kenya, were under 1% of revenue in the offer document.
Read more about the business
The company listed on NSE Emerge on 14 November 2025, raising ₹27.5 cr. Since then it has set up a joint venture in Nigeria, Curosun Pharmaceutical, with Eurosun Pharmaceuticals to register and market its own products there, and Uninova Lifesciences became a 51% subsidiary on 6 April 2026.
From the offer document, the FY26 annual report and the January 2026 earnings call and investor meet transcripts.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 21% in FY26.
- The promoters own a large part of the company: 68.03%.
To watch
- First registrations of the company's own products in Nigeria through the Curosun joint venture, expected around March 2027 (Investor meet transcript, January 2026, p.7).
- Recovery of the ₹4.8 cr of business advances and a fall in the ₹34.1 cr of inventory (Annual report FY26, p.56, p.73 and p.81).
- Spending of the ₹7.8 cr of unused IPO money on the plant upgrade, storage facility and registrations (Annual report FY26, p.59).
- Progress of the two Drugs and Cosmetics Act cases in Mysuru and Kottayam (Offer document, p.288).
- It paid no dividend in the past year.
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.
Curis Lifesciences revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. 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 lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Curis Lifesciences half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 15.90 | 34.36 | 27.91 | 32.72 |
| Expenses | 12.09 | 27.43 | 21.92 | 27.58 |
| Operating profit | 3.81 | 6.93 | 5.99 | 5.14 |
| OPM | 24.0% | 20.2% | 21.4% | 15.7% |
| Interest | 0.50 | 0.61 | 0.43 | 0.71 |
| Depreciation | 0.34 | 0.34 | 0.34 | 0.35 |
| Profit before tax | 2.95 | 6.03 | 5.22 | 4.34 |
| Net profit | 2.20 | 4 | 4.21 | 2.71 |
Curis Lifesciences profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 23.70 | 35.42 | 35.58 | 50.26 | 60.63 |
| Expenses | 20.12 | 32.16 | 27.14 | 39.51 | 49.50 |
| Operating profit | 3.58 | 3.26 | 8.44 | 10.75 | 11.13 |
| OPM | 15.1% | 9.2% | 23.7% | 21.4% | 18.4% |
| Other income | 0.02 | 0.34 | 0.31 | 0.02 | 0.28 |
| Interest | 1.62 | 1.33 | 0.85 | 1.11 | 1.14 |
| Depreciation | 0.75 | 0.73 | 0.68 | 0.67 | 0.70 |
| Profit before tax | 1.23 | 1.54 | 7.22 | 8.99 | 9.56 |
| Tax rate | 60.2% | 20.1% | 25.8% | 30.9% | 27.6% |
| Net profit | 0.49 | 1.23 | 5.36 | 6.21 | 6.92 |
| EPS ₹ | 9.80 | 24.60 | 107.20 | 10.46 | 10.26 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY22) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Curis Lifesciences 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
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 15.1% | 9.2% | 23.7% | 21.4% | 18.4% |
| Tax rate | 60.2% | 20.1% | 25.8% | 30.9% | 27.6% |
| ROCE | · | 34.3% | · | 62.9% | 21.2% |
| ROE | · | · | · | 75.2% | 21.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Curis Lifesciences debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. 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 pay faster than they did in FY22, which frees up the company's money.
Bars below the line are cash going out.
Curis Lifesciences balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.50 | · | · | 5.93 | 8.08 |
| Reserves | -1.40 | · | · | 10.58 | 39.27 |
| Net worth | -0.90 | · | · | 16.51 | 47.36 |
| Borrowings | 17.62 | · | · | 15.61 | 21.59 |
| Other liabilities | 10.68 | · | · | 10.48 | 12.57 |
| Total liabilities | 27.40 | · | · | 42.60 | 81.52 |
| Fixed assets | 12.33 | · | · | 10.99 | 12.10 |
| Capital work in progress | 0 | · | · | 0.02 | 1.33 |
| Investments | 0.01 | · | · | 0.01 | 0.01 |
| Other assets | 15.06 | · | · | 31.58 | 68.08 |
| Receivables | · | · | · | · | 11.22 |
| Inventory | · | · | · | · | 34.11 |
| Cash | · | · | · | · | 3.17 |
| Trade payables | · | · | · | · | 8.18 |
Curis Lifesciences cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 4.95 | · | · | -2.03 | -16.42 |
| Cash from investing | -0.37 | · | · | -0.02 | -1.59 |
| Cash from financing | -4.58 | · | · | 1.94 | 20.87 |
| Net cash flow | 0 | · | · | -0.11 | 2.86 |
| Capital spending | · | · | · | · | 1.80 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 96 | · | · | 55 | 68 |
| Inventory days | 208 | · | · | 347 | 694 |
| Days payable | 360 | · | · | 113 | 166 |
| Cash conversion cycle | -55 | · | · | 289 | 595 |
| Working capital days | -16 | · | · | 99 | 232 |
Curis Lifesciences peers and competitors
Listed SME companies in the same industryBy sales, Curis Lifesciences is number 22 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 |
|---|---|---|---|---|---|---|
| Walpar Nutritions | 25 | 9.9 | 78.8 | 2.5 | 8.5% | 0.89 |
| Speciality Medicines | 142 | 10.9 | 75 | 13 | 18.0% | 0.10 |
| Shelter Pharma | 85 | 9.5 | 73 | 9 | 17.4% | 0.01 |
| Sunrest Lifescience | 15 | 3.7 | 70.8 | 4.1 | 14.4% | 0.85 |
| Onyx Biotec | 68 | - | 69.5 | -0.2 | 4.9% | 0.27 |
| Curis Lifesciences | 143 | 20.7 | 60.6 | 6.9 | 18.4% | 0.46 |
| Aptus Pharma | 779 | 168.7 | 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 |
| Median of the 10 others | 87 | 10.9 | 58 | 6 | 16.7% | 0.29 |
Curis Lifesciences shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
Curis Lifesciences 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.
| Nov 25 | Mar 26 | |
|---|---|---|
| Promoters | 68.03% | 68.03% |
| Foreign investors (FIIs) | 2.93% | 1.19% |
| Indian institutions (DIIs) | 10.86% | 5.80% |
| HNIs (over ₹2 lakh each) | 1.23% | 5.99% |
| Small holders (up to ₹2 lakh) | 12.75% | 8.39% |
| Companies and others | 4.20% | 10.60% |
| Number of shareholders | 542 | 340 |
The named holders are at 31 March 2026, beside 12 Nov 2025, each under the group the pattern files them in.
Curis Lifesciences study: the business from its own documents
Read from 5 of the company's own documentsCuris Lifesciences so far
From the company's own record
- 14 Nov 2025Listed on NSE Emerge at ₹128
- 31 March 2026Promoters at 68.03%
- 28 Sept 2026Highest close since listing, ₹230.10
Curis Lifesciences key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹60.6 cr
- Up 20.63% on the year before; profit after tax rose 11.44% to ₹6.9 cr.Annual report FY26, p.38
- Largest customer
- 47.79%
- Share of revenue from the single largest customer in the four months to July 2025; the top ten made up 97.20%.Offer document, p.170
- Tablet capacity
- 138 crore a year
- Used at 66.54% on an annual basis in the four months to July 2025; capsules, liquids, creams and eye ointments ran at 20% to 36%.Offer document, p.188
- Own brands
- Under 1%
- Share of revenue from products sold under its own name, in Yemen and Kenya, in the years before listing.Offer document, p.137
- Inventory
- ₹34.1 cr
- Stock at March 2026, up from ₹18.4 cr a year earlier and more than half of FY26 revenue.Annual report FY26, p.73 and p.81
Show 5 more facts
- Business advances
- ₹4.8 cr
- Inter corporate deposits given in FY26 to parties other than subsidiaries, repayable on demand with no repayment schedule set.Annual report FY26, p.56 and p.81
- IPO money unspent
- ₹7.8 cr
- At March 2026; nothing yet spent on the plant upgrade or foreign product registrations, and ₹1.0 cr of ₹3.6 cr on the storage facility.Annual report FY26, p.59
- Quality cases
- 2 cases
- Drug inspectors in Mysuru and Kottayam have filed cases under the Drugs and Cosmetics Act over products said to be not of standard quality; the Kottayam case names all four promoters.Offer document, p.288
- Board changes
- 3 exits
- Two independent directors resigned in April and July 2026 and the company secretary in September 2026; a new independent director joined in July 2026.Annual report FY26, p.19 and p.20
- Export approvals
- WHO-GMP
- Plant certified since 2017, with registrations in Nigeria, Kenya, the Philippines and Yemen; a Ghana plant registration fee has been paid.Earnings call transcript, January 2026, p.4; Investor meet transcript, January 2026, p.4
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On its January 2026 calls the company said it expects sales growth of 20% to 25% in the following year, with a focus on margins, and that it is closing low margin job work. It said Nigerian registrations for one or two of its own products may come by March 2027 through the Curosun joint venture, and that it hopes own brand sales reach 10% of revenue in FY28 and 30% in FY29.
| What management said | When | What happened |
|---|---|---|
| Sales growth of about 20% in FY26 | January 2026 call | Revenue up 20.63% to ₹60.6 cr |
| Spend IPO money on a plant upgrade, a storage facility and foreign product registrations | Offer document, 2025 | ₹1.0 cr of ₹8.8 cr spent on these three by March 2026 |
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.
Curis Lifesciences earns its money by making medicines to order for other drug companies and exporters, using a certified plant that still has a lot of room to make more.
Its weak spots are a very small group of customers, thin pricing power on work done under other companies' brands, and a large build up of stock and advances that has tied up cash.
WatchCan it set its own prices?Most products carry the client's brand, so the client sets the market price and Curis earns a making margin. The company itself calls domestic contract work a limited margin business.
AverageHow strong is it against rivals?A WHO-GMP plant with approvals in several countries lets it serve exporters. It is a small general maker and cannot make cancer, hormone or penicillin type drugs.
WatchWho are its customers?Known drug companies and exporters, but almost all sales come from a handful of them. One customer alone was close to half of sales in the latest period shown.
WatchDoes it need a lot of money?The plant needs little new spending, but stock, money owed by customers and advances to others have taken up a lot of cash. Short term borrowing rose as well.
AverageCan it keep finding new work?Spare capacity in most sections and export approvals leave room for more orders. Its own brand plan abroad has not yet produced sales.
WatchDo good and bad years swing a lot?Sales were flat for two years before growing, and the share of sales kept as profit has moved a lot with raw material prices and the product mix.
Who runs Curis Lifesciences?
Promoters, directors and officers; tap a name for the background
DDDharmesh Dasharathbhai PatelPromoter, Chairman and Managing Director · holds 13.27%
Director since the company was formed in March 2016; Managing Director from 6 November 2024 and Chairman from 3 December 2024. Bachelor of Pharmacy from Saurashtra University, Rajkot, with more than 15 years in pharmaceuticals; Senior Chemist at Trilokaa Parenterals from 1997 to 1999 and a partner in Loreto Pharmaceuticals. Partner in Biocare Formulations since 2011 and Macline Pharmaceuticals since 2015.
Offer document, p.219, p.221 and p.233SJSiddhant Jayantibhai PawasiaPromoter and Non Executive Director · holds 19.05%
Non Executive Director since the company was formed. Secondary education from the Gujarat Secondary Education Board, with more than 13 years in construction and pharmaceuticals; founder of J D Buildcon, a construction business.
Offer document, p.220 and p.233PGPiyush Gordhanbhai AntalaPromoter and Whole Time Director · holds 15.65%
Director since the company was formed; Whole Time Director from 6 November 2024, in charge of manufacturing. Bachelor of Pharmacy from Rajiv Gandhi University of Health Sciences, Karnataka, with more than 15 years in pharmaceuticals; worked at Lincoln Pharmaceuticals in 2009 to 2010 and was a partner in Loreto Pharmaceuticals and Biocare Formulations.
Offer document, p.219, p.221 and p.234JMJaimik Mansukhlal PatelPromoter and Whole Time Director · holds 10.89%
Director since the company was formed; Whole Time Director from 6 November 2024, in charge of marketing, regulatory work and legal compliance. Bachelor of Pharmacy from Rajiv Gandhi University of Health Sciences and Master of Science in Pharmacology from the University of Hertfordshire, with more than 13 years in pharmaceuticals; partner in Medheal Pharmaceutical from 2011 to 2016.
Offer document, p.219, p.221 and p.234GAGrishma A ShewaleIndependent Director
Independent Director since 6 November 2024 and chair of the audit committee. Bachelor of Commerce and Bachelor of Laws from the Maharaja Sayajirao University of Baroda, Master of Commerce from Sardar Patel University and a qualified company secretary, with more than five years in secretarial and compliance work.
Offer document, p.218 and p.220; Annual report FY26, p.12DHDevabhai Hamirbhai JadejaIndependent Director
Additional Independent Director from 13 July 2026. Master of Commerce from Saurashtra University (2013), with over a decade in accounting; head of accounts at Hindustan Project for nearly 13 years and a non executive director at Golden Sparrow Consultancy.
Annual report FY26, p.105 and p.106Curis Lifesciences 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 ₹32.7 cr (-5%), net profit ₹2.7 cr (-32%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 68.03%.
Curis Lifesciences announcements
57 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the quarter and half year ended 30th September, 2026PDF ↗
- Shareholders meetingSrutinizers report of 10th Annual General Meeting held on September 29, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of 10thAnnual General Meeting held on September 29, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Copy of Newspaper PublicationFor Notice of 10th Annual General MeetingPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 29, 2026PDF ↗
- Outcome of Board MeetingHeld on September 07, 2026PDF ↗
- Resignation of Director/KMP/SMPResignation of Director/KMP/SMPPDF ↗
- CessationOf Mr Nikhil Purohit as Company Secretary & Compliance Officer of the company w.e.f. September 03, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended on 30th June, 2026PDF ↗
- AgreementsJoint venture agreement entered into by the company with CUROSUN PHARMACEUTICAL NIG LTD (Nigerian Company) by acquiring 49.95% stake of such companyPDF ↗
- Quarterly Compliance Report on Corporate governance - within 21 days from the enCuris Lifesciences Limited has informed regarding Non-Applicability of the Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) RegulaPDF ↗
Curis Lifesciences annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 Jan 2026 ↗read
- 31 Jan 2026 ↗read
Curis Lifesciences share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Curis Lifesciences' 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.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (80,84,434 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓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 (₹107.20) and FY25 (₹10.46) 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, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Curis Lifesciences
What does Curis Lifesciences do?
Curis Lifesciences makes generic tablets, capsules, syrups, creams and eye ointments at its plant in Sanand, Gujarat, mostly for other drug companies and for exporters. Its shares trade on NSE Emerge.
What is the share price of Curis Lifesciences?
₹177 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Curis Lifesciences?
₹143 cr at the close on 6 Nov 2026, on 80,84,434 shares.
What is the P/E of Curis Lifesciences?
20.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Curis Lifesciences' revenue and profit?
Revenue ₹61 cr and profit after tax ₹7 cr in FY26.
Who are the promoters of Curis Lifesciences?
Dharmesh Dasharathbhai Patel, Siddhant Jayantibhai Pawasia, Piyush Gordhanbhai Antala, Jaimik Mansukhlal Patel; promoters held 68.03% at 31 March 2026.
What was the IPO price of Curis Lifesciences?
₹128 a share; it listed on 14 Nov 2025.
What is Curis Lifesciences' website?
www.curisls.com
More SME companies like Curis Lifesciences
Other listed SME companies in pharmaceuticals & biotechnology, the closest in size first, each read from its own documents.
- Sotac PharmaceuticalsSOTAC · NSE Emerge · Pharmaceuticals & Biotechnology · listed 2023Market cap ₹144 cr
- Quest LaboratoriesQUESTLAB · NSE Emerge · Pharmaceuticals & Biotechnology · listed 2024Market cap ₹139 cr
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- Himalaya Nutravedics IndiaHNIL · BSE SME · Pharmaceuticals & BiotechnologyMarket cap ₹127 cr
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Every listed SME company in Pharmaceuticals & Biotechnology → · SME companies listed in 2025 →
Built from 2 earnings call transcripts, 1 offer document, 1 result filing, 1 annual report, 57 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.