About
Vikram Thermo (India) Limited engages in the manufacture, marketing, and export of pharmaceutical excipients and chemicals in India and internationally. The company offers pharmaceutical polymer products, such as DRUGCOAT, a methacrylic co-polymer-based pharma polymer used for enteric and protective coating, taste masking, and sustained release formulation; DRCOAT, provides aqueous and non-aqueous based tablet coating system; and diphenyl oxide, an aromatic chemical. It also provides cosmetic polymers comprising AQUAPOL polymer, an acrylic acid polymer; and APION cross-linked polymers. The company was founded in 1985 and is based in Ahmedabad, India.
Key Metrics
as of Sep 2026Market Cap944 Cr
P/E21.50
Div Yield0.34 %
Book Value₹50.00
52w High₹312.00
52w Low₹132.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 38.00 | 38.00 | 34.00 | 35.00 | 29.00 | 27.00 | 34.00 | 34.00 | 31.00 | 27.00 | 24.00 | 34.00 | 22.00 |
| Expenses | 20.00 | 26.00 | 19.00 | 19.00 | 17.00 | 20.00 | 21.00 | 21.00 | 20.00 | 20.00 | 15.00 | 22.00 | 13.00 |
| Operating Profit | 18.00 | 12.00 | 15.00 | 15.00 | 11.00 | 7.00 | 13.00 | 12.00 | 12.00 | 7.00 | 9.00 | 12.00 | 8.00 |
| OPM % | 48.00 | 32.00 | 44.00 | 45.00 | 40.00 | 25.00 | 39.00 | 37.00 | 37.00 | 27.00 | 39.00 | 36.00 | 38.00 |
| Other Income | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | -24.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 18.00 | 12.00 | 15.00 | 15.00 | 11.00 | 7.00 | 12.00 | 12.00 | -13.00 | 6.00 | 9.00 | 11.00 | 8.00 |
| Tax % | 26.00 | 29.00 | 25.00 | 25.00 | 25.00 | 41.00 | 23.00 | 16.00 | 23.00 | 23.00 | 27.00 | 26.00 | 26.00 |
| Net Profit | 13.00 | 9.00 | 11.00 | 11.00 | 8.00 | 4.00 | 9.00 | 10.00 | -16.00 | 5.00 | 6.00 | 8.00 | 6.00 |
| EPS in Rs | 4.23 | 2.71 | 3.49 | 3.53 | 2.53 | 1.30 | 2.87 | 3.12 | -5.04 | 1.57 | 2.05 | 2.63 | 1.83 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 134.00 | 126.00 | 101.00 | 112.00 | 93.00 | 74.00 | 56.00 | 58.00 | 49.00 | 45.00 | 38.00 | 37.00 |
| Expenses | 80.00 | 82.00 | 64.00 | 85.00 | 78.00 | 55.00 | 44.00 | 49.00 | 44.00 | 37.00 | 31.00 | 32.00 |
| Operating Profit | 54.00 | 45.00 | 37.00 | 26.00 | 15.00 | 18.00 | 12.00 | 9.00 | 5.00 | 8.00 | 8.00 | 5.00 |
| OPM % | 40.00 | 35.00 | 37.00 | 23.00 | 16.00 | 25.00 | 21.00 | 15.00 | 10.00 | 19.00 | 20.00 | 15.00 |
| Other Income | 2.00 | -23.00 | 0.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 3.00 | 3.00 | 2.00 | 3.00 | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 |
| Profit before tax | 52.00 | 18.00 | 34.00 | 23.00 | 12.00 | 16.00 | 9.00 | 6.00 | 3.00 | 7.00 | 6.00 | 5.00 |
| Tax % | 26.00 | 56.00 | 25.00 | 27.00 | 26.00 | 25.00 | 23.00 | 28.00 | 25.00 | 35.00 | 34.00 | 34.00 |
| Net Profit | 38.00 | 8.00 | 25.00 | 17.00 | 9.00 | 12.00 | 7.00 | 4.00 | 2.00 | 5.00 | 4.00 | 3.00 |
| EPS in Rs | 12.26 | 2.58 | 8.08 | 5.39 | 2.76 | 3.83 | 2.30 | 1.58 | 0.84 | 1.68 | 1.51 | 1.11 |
| Dividend Payout % | 10.00 | 39.00 | 9.00 | 9.00 | 2.00 | 8.00 | 13.00 | 19.00 | 12.00 | 20.00 | 20.00 | 13.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31.00 | 31.00 | 31.00 | 31.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| Reserves | 126.00 | 90.00 | 82.00 | 58.00 | 67.00 | 59.00 | 48.00 | 37.00 | 33.00 | 32.00 | 27.00 | 23.00 |
| Borrowings | 5.00 | 6.00 | 7.00 | 19.00 | 15.00 | 10.00 | 6.00 | 14.00 | 12.00 | 6.00 | 1.00 | 4.00 |
| Other Liabilities | 26.00 | 18.00 | 22.00 | 19.00 | 16.00 | 16.00 | 13.00 | 9.00 | 9.00 | 10.00 | 8.00 | 8.00 |
| Total Liabilities | 188.00 | 146.00 | 143.00 | 127.00 | 104.00 | 92.00 | 73.00 | 66.00 | 60.00 | 53.00 | 41.00 | 41.00 |
| Fixed Assets | 57.00 | 45.00 | 61.00 | 61.00 | 53.00 | 32.00 | 34.00 | 34.00 | 30.00 | 21.00 | 17.00 | 10.00 |
| CWIP | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 18.00 | 6.00 | 0.00 | 4.00 | 7.00 | 1.00 | 9.00 |
| Investments | 20.00 | 0.00 | 15.00 | 11.00 | 11.00 | 10.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 110.00 | 101.00 | 65.00 | 55.00 | 40.00 | 32.00 | 32.00 | 32.00 | 26.00 | 25.00 | 22.00 | 22.00 |
| Total Assets | 188.00 | 146.00 | 143.00 | 127.00 | 104.00 | 92.00 | 73.00 | 66.00 | 60.00 | 53.00 | 41.00 | 41.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 52.00 | 24.00 | 23.00 | 13.00 | 6.00 | 15.00 | 13.00 | 4.00 | 3.00 | 6.00 | 2.00 | 2.00 |
| Cash from Investing Activity | -41.00 | -22.00 | -9.00 | -13.00 | -7.00 | -19.00 | -10.00 | -2.00 | -8.00 | -10.00 | -1.00 | -3.00 |
| Cash from Financing Activity | -5.00 | -4.00 | -14.00 | 1.00 | 3.00 | 3.00 | -4.00 | 1.00 | 4.00 | 4.00 | -4.00 | 1.00 |
| Net Cash Flow | 5.00 | -3.00 | 0.00 | 2.00 | 1.00 | -1.00 | -1.00 | 3.00 | 0.00 | 0.00 | -2.00 | 0.00 |
| Free Cash Flow | 42.00 | -16.00 | 17.00 | 0.00 | -1.00 | 4.00 | 4.00 | 2.00 | -4.00 | -5.00 | 1.00 | -2.00 |
| CFO/OP % | 119.00 | 81.00 | 86.00 | 71.00 | 63.00 | 102.00 | 129.00 | 56.00 | 86.00 | 93.00 | 48.00 | 52.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 125.00 | 128.00 | 142.00 | 109.00 | 93.00 | 99.00 | 129.00 | 138.00 | 139.00 | 115.00 | 139.00 | 131.00 |
| Inventory Days | 87.00 | 76.00 | 137.00 | 64.00 | 74.00 | 94.00 | 97.00 | 53.00 | 60.00 | 98.00 | 64.00 | 64.00 |
| Days Payable | 104.00 | 74.00 | 119.00 | 69.00 | 62.00 | 92.00 | 107.00 | 52.00 | 70.00 | 102.00 | 81.00 | 84.00 |
| Cash Conversion Cycle | 108.00 | 130.00 | 160.00 | 104.00 | 106.00 | 101.00 | 119.00 | 139.00 | 128.00 | 111.00 | 123.00 | 111.00 |
| Working Capital Days | 144.00 | 122.00 | 129.00 | 61.00 | 72.00 | 62.00 | 102.00 | 84.00 | 82.00 | 119.00 | 145.00 | 84.00 |
| ROCE % | 36.00 | 35.00 | 31.00 | 25.00 | 15.00 | 24.00 | 17.00 | 14.00 | 8.00 | 19.00 | 20.00 | 16.00 |
Corporate Actions
19 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 19 Sep 2025 | 19 Sep 2025 | — | 1.00 | |
| Dividend | 23 Sep 2024 | — | — | 0.75 | |
| Other | 21 May 2024 | 21 May 2024 | — | — | Spin Off |
| Dividend | 15 Sep 2023 | — | — | 0.50 | |
| Dividend | 08 Sep 2022 | — | — | 0.30 | |
| Bonus | 12 May 2022 | 13 May 2022 | 4:1 | — | |
| Dividend | 23 Sep 2021 | — | — | 1.50 | |
| Dividend | 22 Sep 2020 | — | — | 1.50 | |
| Dividend | 19 Sep 2019 | — | — | 1.50 | |
| Dividend | 20 Sep 2017 | — | — | 1.65 | |
| Dividend | 23 Sep 2015 | — | — | 0.75 | |
| Dividend | 23 Sep 2014 | — | — | 1.50 | |
| Dividend | 03 Sep 2013 | — | — | 1.50 | |
| Dividend | 20 Sep 2012 | — | — | 1.50 | |
| Dividend | 20 Sep 2011 | — | — | 1.50 | |
| Dividend | 13 Sep 2010 | — | — | 1.00 | |
| Dividend | 17 Sep 2009 | — | — | 1.00 | |
| Dividend | 16 Sep 2008 | — | — | 1.50 | |
| Dividend | 18 Sep 2007 | — | — | 1.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update25 Jul 2016 from crisil