Anlon Healthcare Ltd(AHCL)

NSE: AHCLBSE: 544497

₹ 25.56+4.97%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,359 crWebsite: www.anlon.inUpdated: 24 Oct 2026

About

Anlon Healthcare Ltd is an Indian pharmaceuticals company manufacturing active pharmaceutical ingredients (APIs), key starting materials (KSMs), and intermediates, with a consolidated installed capacity of 1,400 - 1,600 MTPA across three subsidiaries as of Q1 FY27. The company reported consolidated total income of ₹171.97 cr in FY26, growing 42.98% year-on-year, and has since expanded into finished dosage formulations via acquisition. It sells to customers in 15 countries and is transitioning from an API-only manufacturer to an integrated pharma platform spanning intermediates, APIs, and finished dosage forms.^[1][2][3]

Business segments

Anlon standalone (API and intermediates): contributed ~₹32 cr in Q1 FY27; guided ~₹180 cr for full FY27.^[3]
Apiqo Organics (APIs and industrial/fine chemicals): expected to contribute ₹120 - 150 cr in FY27, the largest single-entity contributor to the consolidated target.^[3]
Bizotic Life Sciences (KSMs and intermediates including backward-integrated ketoprofen and loxoprofen inputs): guided ~₹60 cr in FY27.^[3]
Remember India Health Links (finished dosage formulations - tablets, capsules, ointments): acquired May 2026; commercial operations targeted from Q4 FY27; no revenue contribution yet.^[3]

Products and portfolio

65 products commercialised as of Q1 FY27; 21 DMFs filed with regulated-market authorities.^[3]
NSAID APIs - loxoprofen and ketoprofen plus their intermediates - account for ~30 - 35% of revenues; therapeutic diversification underway into cardiac (ticagrelor, ranolazine), arthritis (tofacitinib), and urology (silodosin).^[4]
Remember India Health Links provides access to 30+ formulation dossiers (tablets, capsules, ointments), marking entry into finished dosage forms.^[3]
Pain management ointment (loxoprofen gel/spray) submitted to DCGI for India first-time launch; approval expected within one year of Q1 FY27.^[3]
7 new APIs targeted for filing/launch in FY27 across additional therapeutic categories.^[3][2]

Manufacturing operations

Three manufacturing sites post-acquisitions: Anlon standalone (400 MTPA, Rajkot), Apiqo Organics (700 - 800 MTPA), and Bizotic Life Sciences (300 - 400 MTPA); combined installed capacity 1,400 - 1,600 MTPA as of Q1 FY27.^[3][2]
Consolidated capacity utilisation: 62.37% in Q1 FY27; Anlon standalone is at peak utilisation with no room to grow without the greenfield expansion.^[3]
Apiqo's industrial and fine chemicals vertical described as fully booked and overbooked as of Q1 FY27.^[3]
Facility holds ANVISA (Brazil) approval with zero observations, received in H1 FY26.^[5]

Key operating numbers

Consolidated total income: ₹87.62 cr in Q1 FY27 vs ₹33.31 cr in Q1 FY26, driven by consolidation of Apiqo (~₹45 cr) and Bizotic (~₹12 cr).^[3]
Consolidated EBITDA margin: 17.86% in Q1 FY27, down from 18.78% in Q1 FY26, due to petroleum-derived solvent price spikes (methanol up from ₹22 to ₹58 - 60) and Remember India opex consolidation.^[3]
Revenue mix in H1 FY26: APIs ~70%, intermediates (N-1 KSMs) ~27.2%.^[5]
Top 5 customers accounted for 78% of revenues in H1 FY26.^[5]
CDMO pipeline: 3 molecules under development for 2 global innovator companies as of Q1 FY27; first molecule at commercial supply validation stage.^[3]

Customers and distribution

Products sold in 15 countries as of Q1 FY27.^[3]
CDMO customers include one Israeli and one European innovator company as of Q2 FY26.^[5]
Export share targeted at 60% of revenues in FY27; domestic mix dominated revenues in FY26.^[2]
FY27 confirmed order book of ₹280 - 300 cr as of Q4 FY26 call, with management expecting an additional ₹80 - 90 cr to materialise through the year.^[2]

Expansion and capex

Anlon standalone greenfield expansion: 1,200 MTPA additional capacity (to 1,600 MTPA standalone), capex ₹130 cr funded ~₹70 cr via bank term loan at 8.5 - 8.6% and remainder from internal accruals; target commissioning Q1 FY28.^[3]
Anlon Biologics incorporated as a new subsidiary to manufacture peptides (including GLP-1), biosimilars, and bio-products; revenue expected from Q4 FY28.^[3]
Anlon Medicare incorporated as a new subsidiary for surgical implants (trauma, spine, joints); revenue expected from Q2 FY28.^[3]
Peak revenue potential from current 1,400 - 1,600 MTPA consolidated capacity estimated at ₹450 - 500 cr at ~80% utilisation.^[2]

Recent developments

Acquired 63.98% stake in Remember India Health Links on 8 May 2026 for ₹5.38 cr, gaining access to 30+ formulation dossiers and entry into finished dosage formulations.^[3]
Share swap initiated to convert Apiqo (~68% stake) and Bizotic (~57% stake) to wholly-owned subsidiaries; already intimated to exchanges; completion targeted by end of Q2 FY27 (September 2026).^[3]
Apiqo Organics acquisition (67.48% stake, ₹5.40 cr) and Bizotic Life Sciences acquisition (56.67% stake, ₹3.79 cr) both completed in FY26.^[4][2]
CDMO: first of three molecules supplied for validation at ~100 kg scale in March 2026; commercial supply expected Q3 FY27.^[2]

Market Cap

₹1,359 Cr

High / Low

₹38 / 10

Stock P/E

77.1

Price / Book

6.2

Book Value

₹4

EPS

₹0.5

No. of Shares

53.15 Cr

ROCE

15.5%

ROE

12.4%

OPM

26.9%

Debt / Equity

0.19

Sales

₹172 Cr

Net Profit

₹29 Cr

Promoter holding

52.7%

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