Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹43Cr
Pharmaceuticals Bulk Drugs & Formulation
Rev Gr TTM
Revenue Growth TTM
-24.29%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

ANG
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -58.6 | -23.4 | -44.4 | -60.5 | -4.1 | -67.4 | -1.1 | 33.3 | -55.5 | 33.6 | -20.8 | -24.3 |
| 50 | 50 | 32 | 20 | 34 | 20 | 31 | 27 | 18 | 24 | 26 | 21 |
Operating Profit Operating ProfitCr |
| -26.0 | 11.6 | 5.0 | -10.3 | 8.9 | -9.3 | 6.9 | -8.7 | -4.2 | 2.6 | 0.3 | -14.4 |
Other Income Other IncomeCr | 9 | 0 | 0 | 0 | -2 | 1 | 0 | 0 | 1 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 2 | 2 | 2 | 3 | 4 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
Depreciation DepreciationCr | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 |
| -6 | 2 | -3 | -6 | -4 | -4 | -1 | -6 | -4 | -3 | -3 | -6 |
| -1 | 1 | 0 | 0 | 0 | -1 | 1 | -1 | -2 | -1 | 0 | -1 |
|
Growth YoY PAT Growth YoY% | -187.8 | -49.9 | -188.2 | -233.2 | 20.8 | -275.4 | 9.9 | 12.5 | 43.6 | 34.5 | -41.1 | 8.5 |
| -11.7 | 3.1 | -7.0 | -32.0 | -9.7 | -16.7 | -6.4 | -21.0 | -12.3 | -8.2 | -11.3 | -25.4 |
| -3.6 | 1.4 | -1.7 | -4.5 | -2.8 | -2.4 | -1.5 | -4.0 | -1.6 | -1.5 | -2.2 | -3.6 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | -37.9 | -33.5 | -36.5 | -7.2 |
| 287 | 206 | 136 | 95 | 89 |
Operating Profit Operating ProfitCr |
| 19.0 | 6.4 | 6.6 | -2.4 | -3.1 |
Other Income Other IncomeCr | 1 | 10 | -1 | 2 | 1 |
Interest Expense Interest ExpenseCr | 9 | 12 | 11 | 9 | 8 |
Depreciation DepreciationCr | 6 | 9 | 8 | 7 | 6 |
| 54 | 3 | -11 | -16 | -16 |
| 13 | 3 | -1 | -3 | -4 |
|
| | -100.7 | -3,768.4 | -22.4 | 5.2 |
| 11.4 | -0.1 | -6.9 | -13.4 | -13.7 |
| 31.3 | 0.4 | -7.6 | -9.4 | -8.9 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 10 | 13 | 13 | 13 | 13 |
| 69 | 68 | 59 | 46 | 46 |
Current Liabilities Current LiabilitiesCr | 166 | 162 | 145 | 143 | 171 |
Non Current Liabilities Non Current LiabilitiesCr | 41 | 29 | 22 | 22 | 13 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 193 | 183 | 173 | 161 | 177 |
Non Current Assets Non Current AssetsCr | 98 | 95 | 69 | 69 | 62 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 25 | 26 | -9 | 0 |
Investing Cash Flow Investing Cash FlowCr | -44 | -9 | 20 | -2 |
Financing Cash Flow Financing Cash FlowCr | 20 | -17 | -10 | 2 |
|
Free Cash Flow Free Cash FlowCr | -17 | 16 | 9 | -4 |
| 61.3 | -10,060.0 | 93.6 | 2.1 |
CFO To EBITDA CFO To EBITDA% | 36.7 | 186.6 | -98.4 | 11.3 |
| Financial Year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 243 | 99 | 59 | 30 |
Price To Earnings Price To Earnings | 6.0 | 0.0 | 0.0 | 0.0 |
Price To Sales Price To Sales | 0.7 | 0.5 | 0.4 | 0.3 |
Price To Book Price To Book | 3.1 | 1.2 | 0.8 | 0.5 |
| 4.7 | 11.6 | 13.1 | -48.2 |
Profitability Ratios Profitability Ratios |
| 35.6 | 31.5 | 34.9 | 35.8 |
| 19.0 | 6.4 | 6.6 | -2.4 |
| 11.4 | -0.1 | -6.9 | -13.4 |
| 40.0 | 9.5 | 0.2 | -4.9 |
| 51.0 | -0.3 | -14.2 | -20.9 |
| 13.8 | -0.1 | -4.2 | -5.4 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
ANG Lifesciences India Limited is a publicly listed, pure-play pharmaceutical formulation company incorporated in 2006 and headquartered in Baddi, Himachal Pradesh, India. The company specializes in manufacturing and marketing a diversified portfolio of high-quality finished pharmaceutical formulations, with a strong focus on both domestic and international markets. It operates state-of-the-art, WHO-GMP and ISO-certified manufacturing facilities located in Baddi, ensuring compliance with global quality standards.
---
### **Core Business & Product Portfolio**
- **Therapeutic Focus Areas**: Antibiotics, antivirals, antimalarials, antiulcer drugs, carbapenems, corticosteroids, penicillins (with beta-lactamase inhibitors), pain management, anti-inflammatories, and critical care medicines.
- **Dosage Forms**: Dry powder injections, liquid injections, tablets, capsules, soft gelatin capsules, syrups (liquid and dry), ointments, lotions, and pre-filled syringes.
- **Key Segments**: Non-Beta Lactam, Beta Lactam, Cephalosporin, and Carbapenem products.
- **Portfolio Size**: Offers over **1,000 formulations**, minimizing product concentration risk and enabling diversified revenue streams.
---
### **Manufacturing & Infrastructure**
- **Facilities**: Operates **seven WHO-GMP-compliant manufacturing units** in Baddi, Himachal Pradesh. These include:
- Flagship facility and newly integrated units from acquisitions (ex-Ind-Swift Units 3–4, renamed Unit 5 & 6).
- Dedicated **penicillin formulation plant** (ex-Star Biotech).
- **Unit V** with a new pre-filled syringes (PFS) line commissioned for enhanced injectable offerings.
- A **menthol manufacturing plant** with 10,000 metric tons per annum (TPA) capacity—contributing 20% to global menthol production.
- **Capacity (as of 2025)**:
- 3 billion tablets/year
- 90 million liquid injection ampoules
- 48 million liquid injection vials
- 120 million dry syrups
- 960 million soft gelatin capsules
- 24 million ointments and 4 million lotions
- 140 million dry powder injection vials (post-IPO expansion)
- All manufacturing is done in-house, ensuring quality control and compliance with global pharmacopeia standards.
---
### **Strategic Growth & Expansion**
ANG Lifesciences has executed a robust growth strategy through **acquisitions, backward integration, and technological upgrades**:
#### **Key Acquisitions & Integration**
- **Star Biotech Pvt Ltd (2019)**: Acquired to establish a dedicated penicillin formulation unit; expanded and commissioned by FY22.
- **MBP Pharmaceuticals (Jan 2021)**: Enabled expansion into beta-lactam oral solids (tablets, capsules, dry syrups).
- **Ind-Swift Ltd’s Units 3 & 4 (2021, ₹60 crore)**: Significantly increased capacity; now operate as **Unit 5 and Unit 6** of ANG.
- **Mansa Printers & Publishers Ltd (Apr 2021)**: Strategic **backward integration** into pharmaceutical packaging to reduce costs (packaging = 15–20% of product cost) and secure supply chain.
#### **Greenfield & Brownfield Projects**
- **Pre-filled Syringes (PFS) Line**: Commissioned in Unit V to strengthen injectable pipeline.
- **Greenfield Facility**: Planned on surplus land for **anti-cancer drugs and nutraceuticals** to support future growth.
- **Surgical Unit**: Future plan for land acquired from Jot Saroop Knits (currently used as warehouse).
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### **Global & Domestic Footprint**
- **Markets**: Serves **India, Africa, Gulf countries, Latin America, and Southeast Asia**.
- **Export Strategy**: Targeting **250+ product registrations** in semi- and regulated markets (Latin America, Africa, SEA) by FY23–24. Aimed for **₹500 crore in export revenue by FY23–24**.
- **Sales & Distribution**: Pan-India presence with strong outreach to **government institutions, third-party manufacturing (contract), and direct marketing channels**.
---
### **Backward Integration & Sustainability Goals**
- **API & Intermediate Focus**: Long-term strategy to **reduce dependence on Chinese imports** by entering API and derivative manufacturing.
- **Process Optimization**: Investment in advanced technologies to reduce solvent usage, by-product formation, pollution, and overall production costs.
- **Sustainability**: Emphasis on **green manufacturing and reduced environmental impact** through continuous process improvements.
---
### **Subsidiary Transactions (as of Sep 2025)**
- **Mansa Prints and Publishers Limited** (subsidiary):
- Loan provided: ₹125.00 lakh
- Interest income earned: ₹33.61 lakh
- Land acquired: ₹381.35 lakh
- Goods purchased: ₹241.26 lakh
- Revenue from sales to subsidiary: ₹202.47 lakh
*Indicates active intercompany operations supporting packaging integration and cost optimization.*