Anondita Medicare Ltd(ANONDITA)

NSE: ANONDITA

₹ 1,015+3.61%refreshed 27 Oct, 11:31 am ISTMarket cap: ₹ 1,933 crWebsite: www.anonditamedicare.com/Updated: 27 Oct 2026

About

Anondita Medicare Limited is an Indian manufacturer of latex condoms. It sells under its own Cobra brand and supplies government procurement programmes. In FY26 the company reported revenue of ₹137.42 crores. It holds a universal patent for female condom manufacturing in India and says it was the first Indian company to receive MDSAP certification.^[1][2]

Revenue mix

Own-brand (Cobra) sales made up 58% of consolidated revenue in FY26, and government supply made up the other 42%.^[1]
Government sales were about 42% of FY26 revenue. The company aims to keep the government share at 40-45% as export capacity grows.^[1]

Products and brands

The Cobra brand covers male latex condoms sold through retail. The company also makes condoms for government bulk-supply programmes.^[1]
Anondita holds a universal patent for making female condoms in India, which makes it the only domestic maker in this segment.^[3]
The company says it was the first in the world to be registered in Brazil for both female latex and non-latex condoms.^[1]
Trial production of female latex and non-latex condoms has been completed on patented machines built in-house.^[1]

Manufacturing capacity

Capacity reached about 806 million condoms a year by the end of FY26, up from about 562 million. 307 million pieces per annum were added at Noida on 23 February 2026.^[1][3]
Capacity utilisation rose from 32.80% in FY23 to 46.05% in FY25.^[3]
Gross profit margin was about 56% in FY26, up from about 50% in FY25.^[1]

Distribution and customers

As of FY26, the Cobra brand is sold in 8 states through 26 super stockists, 195 distributors and 4,569 retail outlets.^[1]
A distribution partnership for the Cobra brand was set up in Kenya, and trial orders had been received as of Q3 FY26.^[3]
Under the FY26 annual report, the company plans to sell up to ₹35 crore of condoms and other products to its subsidiary Anondita Healthcare & Rubber Products India Limited to widen retail distribution.^[4]

Certifications and export access

The company received MDSAP certification under ISO 13485:2016, which it says was a first in India. This gives single-audit regulatory acceptance in Australia, Brazil, Canada, Japan and the USA.^[3]
It received SABS certification for natural rubber latex male condoms, which qualifies it for South African government tenders.^[3]
A UN/UNFPA inspection was expected to be completed by July 2026, which would open access to global institutional tenders.^[1]

Expansion and capex

12 more lines are being built at Noida to add 250 million pieces per annum, at a project cost of about ₹75 crore. They are funded from internal accruals and debt and are targeted for commissioning within FY27.^[1]
Female condom capacity is planned to grow from 5 million pieces to 240 million pieces per annum: 120 million latex plus 120 million non-latex.^[1]
A latex plantation is planned by FY29 so the company can source raw material in-house.^[3]

Subsidiary and related-party arrangements

Anondita Healthcare & Rubber Products India Limited is a subsidiary and related party of the company, as stated in the FY26 annual report.^[4]
The FY26 annual report proposes unsecured loans to the subsidiary of up to ₹25 crore, currently at 10% a year and repayable on demand.^[4]
Shareholders are asked to approve corporate guarantees and security of up to ₹10 crore for the subsidiary's banking facilities and working capital.^[4]
The proposed ₹75 crore related-party limit with the subsidiary equals 54.58% of the previous year's consolidated turnover.^[4]
According to the FY26 annual report, the company borrows from banks and other lenders at 9.85% to 12.5%.^[4]

Recent developments

After SABS certification, the South African government approved Anondita to supply male condoms for the next five years. The purchase order was still pending as of the Q4 FY26 call.^[1]
The company plans to list its subsidiary once the Cobra brand is present in 10 states. As of Q4 FY26 it was in 8 states.^[1]

Market Cap

₹1,933 Cr

High / Low

₹1,303 / 437

Stock P/E

56.9

Price / Book

18.2

Book Value

₹71

EPS

₹18.0

No. of Shares

1.81 Cr

ROCE

30.6%

ROE

26.1%

OPM

36.5%

Debt / Equity

0.26

Sales

₹137 Cr

Net Profit

₹34 Cr

Promoter holding

59.3%

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