Bliss GVS Pharma
Bliss GVS Pharma
HealthcareKey Fundamentals
MicrocapPharmaceuticalsHealthcareTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
4- Stock is trading at 6.39 times its book value
- The company has delivered a poor sales growth of 9.94% over past five years.
- Company has a low return on equity of 10.2% over last 3 years.
- Company has high debtors of 204 days.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoBliss GVS Pharma Ltd is a near debt-free pharmaceutical company with a market cap of Rs.5,385 Cr trading at a PE of 39.8x. The stock has delivered a 224% return over the past year driven by a 56% TTM profit growth, though underlying sales growth remains modest at 15% TTM and 5-year CAGR of 10%.
- Company is almost debt-free, having actively reduced its debt, which strengthens the balance sheet and lowers financial risk
- TTM profit growth of 56% indicates a sharp acceleration in earnings relative to the 5-year profit CAGR of 14%
- Stock has delivered a 1-year return of 224%, reflecting strong market re-rating and momentum
- 3-year compounded profit growth of 23% outpaces 3-year sales growth of 7%, suggesting improving operating leverage and margins
- ROE has improved to 12% in the last year from a 3-year average of 10% and 5-year average of 9%, indicating an upward trajectory in capital efficiency
- TTM sales growth of 15% marks an acceleration from the 10-year compounded sales CAGR of just 5%
- 5-year stock CAGR of 35% and 10-year CAGR of 17% demonstrate sustained long-term wealth creation
- PE ratio of 39.8x is elevated for a company with 5-year sales CAGR of only 10%, suggesting the stock may be pricing in optimistic growth assumptions
- Debtor days stand at 204 days, indicating significant working capital locked in receivables and potential collection risk
- Other income of Rs.67.5 Cr forms a material portion of earnings, meaning core operating profit may be lower than headline numbers suggest
- Price-to-book ratio of 4.49x is high relative to the 3-year ROE of only 10.2%, implying the market is paying a premium not fully justified by returns on equity
- 5-year compounded sales growth of approximately 10% and past 5-year reported sales growth of 9.94% remain below peer benchmarks in the pharma sector
- 3-year ROE of 10% is below the 15%+ threshold typically expected of quality compounders in healthcare
- Dividend yield of only 0.3% offers negligible income support to investors at current valuations
- After a 224% rally in one year, the stock's risk-reward is skewed — 52-week high/low data is unavailable, limiting visibility into downside support levels
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago- Strong FY26 revenue and profit Jun 23
Consolidated revenue rose 18.26% YoY to ₹1,00,064.26 Lakh in FY26, with net profit surging 49.27% to ₹13,472.77 Lakh. Final dividend of ₹1.00 per share recommended.
- Anupam Rasayan open offer at ₹299 Jun 9
Anupam Rasayan announced an open offer to acquire up to 26.00% of Bliss GVS at ₹299.00 per share (₹829.03 crore), following a share purchase agreement for 43.30% stake.
- New CEO appointed from July 15 Jul 3
Rahul Adakmol appointed CEO effective July 15, 2026, and Santosh Parab as Additional Director. Narsimha Kamath stepped down as CEO.
- 41st AGM set for July 15 Jun 19
Bliss GVS Pharma announced its 41st AGM on July 15, 2026, via video conferencing with ₹1.00 per share final dividend on the agenda.
TL;DR: Bliss GVS Pharma is executing well with 18% revenue growth and nearly 50% profit growth in FY26, signaling strong operational leverage. The Anupam Rasayan open offer at ₹299 per share provides a near-term floor and validates strategic value. Leadership transition to a new CEO introduces some execution uncertainty but no visible negatives. The trend is improving, with earnings momentum and potential strategic synergies from the acquisition likely to drive further interest.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 160 | 212 | 201 | 198 | 184 | 218 | 210 | 198 | 207 | 244 | 218 | 257 | 286 |
| Expenses | 135 | 158 | 157 | 170 | 149 | 176 | 181 | 177 | 166 | 201 | 183 | 213 | 209 |
| Operating Profit | 24 | 54 | 44 | 28 | 34 | 41 | 30 | 21 | 41 | 43 | 35 | 44 | 76 |
| OPM % | 15% | 26% | 22% | 14% | 19% | 19% | 14% | 11% | 20% | 18% | 16% | 17% | 27% |
| Other Income | 5 | 13 | 5 | -24 | 4 | 5 | 15 | 12 | 35 | 8 | 16 | 11 | 10 |
| Interest | 1 | 1 | 2 | 2 | 2 | 4 | 1 | 2 | 5 | 3 | 1 | 2 | 1 |
| Depreciation | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 9 | 10 |
| PBT | 22 | 59 | 40 | -4 | 30 | 36 | 36 | 23 | 63 | 41 | 41 | 45 | 75 |
| Tax % | 34% | 27% | 27% | 24% | 26% | 28% | 29% | 29% | 30% | 30% | 39% | 18% | 32% |
| Net Profit | 14 | 43 | 29 | -5 | 22 | 26 | 26 | 17 | 44 | 29 | 25 | 37 | 51 |
| EPS in Rs | 1.41 | 4.05 | 2.64 | -0.87 | 1.97 | 2.31 | 2.26 | 1.47 | 4.08 | 2.58 | 2.2 | 3.36 | 4.72 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 407 | 547 | 798 | 815 | 899 | 689 | 577 | 747 | 752 | 770 | 810 | 927 | 1,005 |
| Expenses | 304 | 391 | 596 | 618 | 739 | 566 | 471 | 629 | 634 | 620 | 683 | 760 | 806 |
| Operating Profit | 103 | 156 | 203 | 197 | 160 | 123 | 107 | 118 | 117 | 151 | 127 | 168 | 199 |
| OPM % | 25% | 29% | 25% | 24% | 18% | 18% | 18% | 16% | 16% | 20% | 16% | 18% | 20% |
| Other Income | 20 | 24 | 12 | -8 | 35 | 26 | 20 | -42 | 18 | 0 | 36 | 67 | 45 |
| Interest | 16 | 19 | 20 | 23 | 4 | 8 | 6 | 5 | 10 | 7 | 8 | 12 | 7 |
| Depreciation | 11 | 13 | 20 | 21 | 9 | 13 | 17 | 17 | 19 | 26 | 29 | 33 | 35 |
| PBT | 96 | 148 | 175 | 145 | 182 | 129 | 104 | 54 | 106 | 117 | 126 | 190 | 202 |
| Tax % | 36% | 32% | 36% | 39% | 30% | 26% | 29% | 57% | 28% | 30% | 28% | 29% | — |
| Net Profit | 61 | 100 | 113 | 89 | 127 | 95 | 74 | 23 | 77 | 82 | 90 | 135 | 142 |
| EPS in Rs | 5.81 | 8 | 7.95 | 5.7 | 11.99 | 9.43 | 6.64 | 1.45 | 6.8 | 7.21 | 8 | 12.21 | 12.86 |
| Div. Payout % | 12% | 6% | 8% | 18% | 8% | 5% | 8% | 34% | 7% | 7% | 6% | 4% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 |
| Reserves | 327 | 402 | 476 | 526 | 636 | 725 | 798 | 808 | 873 | 957 | 1,040 | 1,182 |
| Borrowings | 160 | 132 | 225 | 118 | 102 | 126 | 122 | 109 | 102 | 100 | 88 | 22 |
| Other Liabilities | 166 | 218 | 311 | 206 | 157 | 168 | 147 | 181 | 171 | 145 | 163 | 278 |
| Total Liabilities | 662 | 762 | 1,023 | 860 | 905 | 1,030 | 1,077 | 1,109 | 1,157 | 1,212 | 1,301 | 1,492 |
| Fixed Assets | 234 | 225 | 305 | 143 | 146 | 242 | 234 | 281 | 379 | 370 | 406 | 459 |
| CWIP | 0 | 9 | 4 | 0 | 47 | 0 | 2 | 22 | 3 | 8 | 21 | 6 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 8 | 4 | 4 | 5 |
| Other Assets | 428 | 527 | 714 | 717 | 712 | 788 | 840 | 803 | 768 | 830 | 871 | 1,022 |
| Total Assets | 662 | 762 | 1,023 | 860 | 905 | 1,030 | 1,077 | 1,109 | 1,157 | 1,212 | 1,301 | 1,492 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 38 | 113 | 289 | 18 | 40 | 47 | 64 | 135 | 34 | 103 | 106 | 139 |
| Investing | -29 | -50 | -249 | 48 | -79 | -40 | -45 | -103 | -6 | -83 | -75 | -38 |
| Financing | -42 | -40 | -10 | -76 | 17 | -6 | -21 | -24 | -25 | -21 | -30 | -89 |
| Net Cash Flow | -34 | 23 | 30 | -10 | -22 | 0 | -2 | 9 | 3 | -1 | 0 | 11 |
| Free Cash Flow | 5 | 101 | 186 | -7 | 2 | -12 | 55 | 63 | -59 | 75 | 33 | 84 |
| CFO/OP | 45 | 101 | 160 | 29 | -8 | 69 | 87 | 143 | 67 | 91 | 112 | 108 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 222 | 201 | 116 | 134 | 187 | 290 | 293 | 192 | 187 | 192 | 198 | 204 |
| Inventory Days | 69 | 55 | 50 | 55 | 46 | 64 | 110 | 116 | 94 | 113 | 111 | 129 |
| Days Payable | 165 | 153 | 100 | 55 | 47 | 75 | 82 | 86 | 79 | 58 | 63 | 89 |
| Cash Conversion Cycle | 126 | 102 | 67 | 134 | 186 | 279 | 321 | 221 | 202 | 247 | 246 | 244 |
| Working Capital Days | 105 | 84 | -10 | 135 | 154 | 232 | 264 | 179 | 192 | 207 | 198 | 214 |
| ROCE % | 23% | 31% | 29% | 27% | 26% | 18% | 12% | 14% | 12% | 14% | 12% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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68 extracted metrics + investor summaries across FY10–FY26.
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Company Information
Incorporated in 1984, Bliss GVS Pharma Limited is engaged in manufacturing, marketing, trading and export of pharmaceutical formulations in the form of suppositories, pessaries, capsules, tablets, and syrups.
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