Gujarat Themis Biosyn Q2 Profit Falls 41% to ₹8.5 Crore as New Fermentation Plant Ramps Up

Gujarat Themis Biosyn reported Q2FY27 revenue of ₹47.5 crore, up 12% year on year, while net profit fell 41% to ₹8.5 crore. ScanX reported that EBITDA declined to ₹17.7 crore from ₹20.9 crore and the margin contracted to 37.4% from 49.5%. Interest expenses rose to ₹6.4 crore from nil.

Gujarat Themis Biosyn's Margin Squeeze From New Fermentation Capacity

Gujarat Themis Biosyn is a Vapi-based fermentation pharmaceutical manufacturer founded in 1981 that is moving into specialty pharma and contract development through its 2026 acquisitions. Revenue growth in the quarter came from volume momentum and a shift in product mix toward APIs, according to ScanX.

Dr. Sachin Patel, Managing Director, said the commissioning of the new fermentation facility had a near-term impact on operating margins. "Benefits from augmented capacity utilization and associated revenue contribution are expected to become increasingly visible from Q4FY27 onwards," he said, according to ScanX.

The company also disclosed the acquisition of MicroBiopharm Japan Co., Ltd. for JPY 21.5 billion, or about ₹1,300 crore. Business Standard reported that the deal for 100% of MBJ completed on September 18, 2026, and that MBJ posted FY26 revenue of JPY 9.5 billion and runs three GMP-compliant plants. Gujarat Themis Biosyn also entered an agreement with Sanofi to acquire a select product portfolio for about EUR 158 million, focused on tuberculosis and anti-infectives brands.

On a consolidated basis, Q2FY27 EBITDA was negative at ₹0.9 crore and the net loss was ₹13.8 crore. The company attributed the result to foreign exchange losses of ₹15.57 crore, the partial-period consolidation of MBJ with 13 days of revenue included, and exceptional expenses of ₹1.2 crore tied to earthquake-related operational disruptions at MBJ.

Gujarat Themis Biosyn's Deal Funding on Record

According to akta.pro company records, Gujarat Themis Biosyn announced the MicroBiopharm Japan acquisition in May 2026 at JPY 21.5 billion, approximately ₹1,300 crore. The same records show the Sanofi asset purchase agreement signed in April 2026 covered 13 established branded generic anti-tuberculosis and anti-infective products for €158 million, approximately ₹1,740 crore. The records list two acquisitions worth nearly ₹3,000 crore within five weeks.

How Gujarat Themis Biosyn Financed the Acquisitions

Gujarat Themis Biosyn's board approved issuance of non-convertible debentures up to ₹585 crore via private placement on September 10, 2026, with no listing proposed, ScanX reported. Tijorialerts reported that the company allotted 58,500 secured unlisted rated NCDs aggregating ₹585 crore via private placement, with proceeds to fund the MicroBiopharm Japan acquisition and general corporate purposes. On November 4, 2026, ScanX reported that the company clarified proceeds from its preferential issue must be utilized within 12 months from allotment, following AGM approval on September 30, 2026, with the issue involving up to 82,10,786 shares at ₹408 per share.

When Gujarat Themis Biosyn Expects Capacity Benefits

Gujarat Themis Biosyn expects benefits from augmented capacity utilization and associated revenue contribution to become increasingly visible from Q4FY27 onwards, according to ScanX. The company said it remains focused on ramping up utilization levels and improving operating leverage as the new capacity scales up.