Vimta Labs Ltd(VIMTALABS)

NSE: VIMTALABSBSE: 524394

₹ 467.9-4.44%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,092 crWebsite: www.vimta.comUpdated: 24 Oct 2026

About

Vimta Labs is a Hyderabad-based contract research and testing organisation offering pharmaceutical analytical and preclinical services, food testing, and electronics & electricals testing to domestic and international clients. In FY26, revenue was 407.29 (₹ Cr) and total income reached ₹4,163 Mn, growing 19.5% year-on-year.^[1][2]

Business segments

Pharmaceutical research and testing contributed approximately 65% of revenue in Q2 FY26, serving both domestic and international clients across analytical, GMP, and preclinical services.^[3]
Food testing contributed approximately 20% of revenue in Q2 FY26; the environment division was merged into the food division in Q1 FY27 and is no longer reported separately.^[3]
Electronics & Electricals (E&E) testing is a separate division; export revenues across the company were approximately 40% of total income in Q1 FY27.^[4]
Clinical research operations, weak in FY26, showed early recovery with healthy enquiries and order inflows in Q1 FY27.^[4]
The diagnostics and pathological services business was sold to Thyrocare (FY25 annual report) to focus on contract research and testing.^[5]

Operations and capacity

Total lab infrastructure covers 200,000 sq ft; management stated in Q1 FY27 this is adequate for the next 4 - 5 years without additional space capex.^[4]
Overall lab infrastructure utilisation was approximately 60% in Q1 FY27.^[4]
Phase 2 facility was already 50 - 60% utilised as of Q2 FY26, with remaining space earmarked for use from Q1 FY27.^[3]
The EMI/EMC test chamber in the E&E division ran at 80 - 85% utilisation on a 24/7 basis in Q3 FY26; a second chamber qualified in the prior quarter doubled capacity for that segment.^[6]
A US subsidiary was approved (Q4 FY26) for business development and customer proximity to US-based clients.^[1]

Key operating numbers

Customer retention rate was above 90% as of Q1 FY27.^[4]
Export revenue mix was approximately 39% in Q3 FY26, approximately 38% in Q4 FY26, and approximately 40% in Q1 FY27; around 60% of exports originate from the US.^[6]
Total income in Q1 FY27 was ₹1,129 Mn, up 13.7% YoY from ₹993 Mn in Q1 FY26 and broadly flat versus ₹1,120 Mn in Q4 FY26.^[4]

Biologics CRDO

A biologics and peptides contract research and development (CRDO) facility was fully built and commercially launched in Q1 FY27; the first domestic client was onboarded that quarter.^[4]
The biologics capability was built partly to cross-sell into the existing pharma analytical client base.^[4]
Meaningful topline contribution from biologics CRDO is expected only from year 3 onwards (FY29+); FY27 focus is onboarding clients.^[4]
Pre-commercialisation inquiries came from Europe, India and the US; biologics capex was guided at approximately ₹25 Cr in FY26 and a similar amount in FY27.^[1]

Customers and markets

As of Q2 FY26, Vimta had engaged with one top global biotech company setting up India centres and was in discussions with a second.^[3]
Food testing saw fewer import/export samples in Q1 FY27 due to the Middle East conflict raising trade costs; the division is redirecting focus to domestic food testing.^[4]
Management cited in Q1 FY27 that 40% of global R&D pipelines are now large-molecule, as Indian pharma shifts toward complex and large molecules.^[4]

Expansion and capex

FY27 capex budget is ₹80 Cr: approximately ₹10 Cr for biologics CRDO completion and approximately ₹70 Cr for routine operations across business units.^[4]
Annual capex is to be calibrated to the prior-year depreciation level going forward (Q1 FY27).^[4]
Pilot-scale biologics capacity expansion is deferred to around Q1 FY28, about one year after commercial operations begin.^[6]
The E&E division will require additional laboratory openings to sustain growth beyond current Hyderabad capacity (Q3 FY26).^[6]

Recent developments

FY26 annual report: founder Dr. S P Vasireddi (age 77) proposed for re-appointment as Executive Chairman for five years from 1 July 2026, with commission up to 1% of net profit.^[7]
FY26 annual report: dividend of ₹2 per equity share proposed for FY26.^[7]
Q1 FY27: biologics CRDO commercially launched; environment division merged into the food division for reporting.^[4]
Q4 FY26: US subsidiary approved; leadership gaps in the E&E division on technical and business development sides confirmed resolved.^[1]
First full-scale Phase I - IV clinical trial completed in FY26, with the sponsor submitting results to European regulators; two further studies initiated.^[3]
Q2 FY26: capacity additions completed across food, E&E, preclinical and GMP testing (small and large molecules).^[3]

Market Cap

₹2,092 Cr

High / Low

₹737 / 377

Stock P/E

24.0

Price / Book

3.1

Book Value

₹102

EPS

₹17.4

No. of Shares

4.47 Cr

ROCE

25.2%

ROE

18.6%

OPM

25.6%

Debt / Equity

0.01

Sales

₹407 Cr

Net Profit

₹78 Cr

Promoter holding

35.6%

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