Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹1,293Cr
Pharmaceuticals - I V Fluids
Rev Gr TTM
Revenue Growth TTM
8.42%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

VENUSREM
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% | 9.3 | -33.5 | 19.9 | 22.7 | 25.4 | 14.2 | 1.4 | 23.1 | -0.1 | 26.3 | 13.3 | 2.1 |
| 131 | 85 | 150 | 131 | 176 | 97 | 163 | 159 | 166 | 122 | 162 | 143 |
Operating Profit Operating ProfitCr |
| 15.8 | 10.9 | 10.6 | 8.4 | 10.0 | 10.4 | 4.5 | 10.2 | 14.9 | 11.2 | 16.1 | 20.8 |
Other Income Other IncomeCr | 3 | 2 | 3 | 2 | 4 | 2 | 8 | 12 | 7 | 3 | 2 | 3 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 8 | 8 | 6 | 7 | 6 | 6 | 6 | 5 | 5 | 6 | 6 | 7 |
| 20 | 5 | 14 | 8 | 17 | 7 | 9 | 25 | 31 | 13 | 26 | 33 |
| 9 | 4 | 4 | 1 | 7 | 6 | 6 | 5 | 10 | 3 | 6 | 8 |
|
Growth YoY PAT Growth YoY% | 4,708.7 | -82.9 | 86.5 | 108.2 | -5.0 | 3.4 | -64.7 | 186.1 | 99.8 | 686.9 | 473.5 | 30.5 |
| 7.1 | 1.2 | 5.9 | 4.8 | 5.4 | 1.1 | 2.1 | 11.1 | 10.8 | 7.0 | 10.4 | 14.2 |
| 8.3 | 0.9 | 7.4 | 5.1 | 7.9 | 0.9 | 2.6 | 14.7 | 15.7 | 7.2 | 15.1 | 19.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| -14.3 | -9.8 | -4.4 | -6.9 | -13.6 | 5.4 | 61.5 | 9.5 | -7.4 | 8.3 | 7.7 | 8.8 |
| 375 | 337 | 349 | 333 | 289 | 299 | 494 | 538 | 495 | 542 | 584 | 592 |
Operating Profit Operating ProfitCr |
| 19.2 | 19.4 | 12.7 | 10.6 | 10.1 | 12.0 | 9.8 | 10.3 | 10.8 | 9.9 | 9.8 | 16.0 |
Other Income Other IncomeCr | 1 | 2 | 2 | 2 | -3 | -4 | 43 | 8 | 10 | 12 | 31 | 14 |
Interest Expense Interest ExpenseCr | 41 | 38 | 34 | 35 | 25 | 13 | 13 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 46 | 42 | 40 | 34 | 34 | 32 | 35 | 34 | 32 | 26 | 23 | 24 |
| 3 | 4 | -22 | -28 | -30 | -8 | 49 | 36 | 38 | 45 | 72 | 104 |
| -3 | 2 | -5 | 3 | -1 | 2 | -13 | -4 | 11 | 16 | 27 | 27 |
|
| -92.0 | -67.1 | -1,105.5 | -79.7 | 6.9 | 65.0 | 717.7 | -34.1 | -34.8 | 7.3 | 59.0 | 68.4 |
| 1.1 | 0.4 | -4.3 | -8.2 | -8.9 | -3.0 | 11.3 | 6.8 | 4.8 | 4.7 | 7.0 | 10.8 |
| 4.5 | 1.5 | -14.9 | -24.9 | -23.1 | -8.1 | 50.0 | 30.9 | 19.9 | 21.3 | 33.9 | 57.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 11 | 11 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 13 |
| 445 | 426 | 376 | 350 | 320 | 311 | 374 | 427 | 447 | 474 | 548 | 581 |
Current Liabilities Current LiabilitiesCr | 163 | 193 | 197 | 230 | 264 | 225 | 97 | 93 | 83 | 79 | 136 | 143 |
Non Current Liabilities Non Current LiabilitiesCr | 222 | 212 | 180 | 158 | 137 | 96 | 58 | 47 | 58 | 60 | 18 | 31 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 233 | 277 | 259 | 260 | 265 | 294 | 234 | 278 | 323 | 360 | 452 | 486 |
Non Current Assets Non Current AssetsCr | 608 | 566 | 506 | 491 | 467 | 350 | 322 | 302 | 278 | 267 | 264 | 282 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 68 | 47 | 59 | 31 | 45 | 78 | 132 | 41 | 37 | 37 | 86 |
Investing Cash Flow Investing Cash FlowCr | -67 | 3 | -18 | -11 | -11 | -5 | 56 | -17 | -51 | -7 | -76 |
Financing Cash Flow Financing Cash FlowCr | -1 | -46 | -44 | -39 | -35 | -73 | -162 | -9 | -1 | -1 | -1 |
|
Free Cash Flow Free Cash FlowCr | 68 | 47 | 36 | 31 | 35 | 70 | 132 | 41 | 29 | 28 | 77 |
| 1,313.9 | 2,759.6 | -345.0 | -101.6 | -158.6 | -776.1 | 213.4 | 100.9 | 137.9 | 130.9 | 190.8 |
CFO To EBITDA CFO To EBITDA% | 76.0 | 57.8 | 116.2 | 79.0 | 139.4 | 190.1 | 245.2 | 66.2 | 61.0 | 62.6 | 136.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 153 | 101 | 121 | 81 | 41 | 28 | 339 | 359 | 216 | 436 | 400 |
Price To Earnings Price To Earnings | 29.6 | 59.8 | 0.0 | 0.0 | 0.0 | 0.0 | 5.5 | 8.8 | 8.2 | 15.3 | 8.8 |
Price To Sales Price To Sales | 0.3 | 0.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.6 | 0.6 | 0.4 | 0.7 | 0.6 |
Price To Book Price To Book | 0.3 | 0.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.9 | 0.8 | 0.5 | 0.9 | 0.7 |
| 5.2 | 5.0 | 7.9 | 8.5 | 8.2 | 4.5 | 6.7 | 5.7 | 3.4 | 6.9 | 5.1 |
Profitability Ratios Profitability Ratios |
| 42.0 | 43.0 | 43.2 | 44.9 | 43.5 | 48.6 | 37.8 | 35.5 | 40.4 | 41.0 | 41.6 |
| 19.2 | 19.4 | 12.7 | 10.6 | 10.1 | 12.0 | 9.8 | 10.3 | 10.8 | 9.9 | 9.8 |
| 1.1 | 0.4 | -4.3 | -8.2 | -8.9 | -3.0 | 11.3 | 6.8 | 4.8 | 4.7 | 7.0 |
| 5.7 | 5.5 | 1.9 | 1.3 | -0.8 | 1.1 | 14.1 | 7.6 | 7.6 | 8.5 | 12.8 |
| 1.1 | 0.4 | -4.4 | -8.5 | -8.6 | -3.1 | 16.0 | 9.3 | 5.8 | 5.8 | 8.1 |
| 0.6 | 0.2 | -2.2 | -4.1 | -3.9 | -1.6 | 11.1 | 7.0 | 4.4 | 4.5 | 6.3 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Venus Remedies Limited is a research-driven, globally integrated pharmaceutical company headquartered in Panchkula, India. Established in 1989 as Venus Glucose Private Limited, the company has evolved into one of India’s top-tier manufacturers of specialized injectable formulations, with a strong global footprint and a strategic focus on innovation, regulatory excellence, and digital transformation. Venus Remedies ranks among the world’s **top 10 manufacturers of fixed-dose injectable pharmaceuticals** and is positioned within the **global top 500 pharma companies**.
The company operates through a dual focus on **generic and specialty formulations**, serving over **90 countries** across emerging and regulated markets. Its consolidated business includes a wholly owned German subsidiary, **Venus Pharma GmbH**, which strengthens its European distribution and regulatory access.
---
### **Core Therapeutic Areas**
Venus Remedies targets high-growth, high-unmet-need segments:
- **Antimicrobial Resistance (AMR)** – Flagship focus, including novel antibiotics and resistance-breaker therapies.
- **Oncology** – Growing portfolio of chemotherapy and supportive care injectables.
- **Critical & Super-Specialty Care** – Neurosurgery, pain management, anticoagulants, skin & wound care.
- **Natural Products / Herbal Therapeutics** – Via its **RESET** consumer health brand.
- **Hemostatics** – Focused on trauma and surgical care innovations.
---
### **Product Portfolio & Growth Drivers**
#### Key Products Driving Growth:
- **Meropenem & Imipenem-Cilastatin (Carbapenems)** – Venus is India’s **largest exporter of Meropenem**, accounting for ~40% of exports. The product contributes significantly to revenue, with over 120 global marketing authorizations.
- **Enoxaparin** – A major anticoagulant with robotic pre-filled syringe (PFS) capabilities; a high-volume, high-growth product with EU-GMP and UNICEF certification.
- **Elores** – A patented combination therapy targeting **ESBL/MBL-producing Gram-negative infections**, launched in multiple markets including Saudi Arabia, Oman, and Ecuador.
- **VRP-034 (Polymyxin B with Renal Guard Technology)** – A first-in-class, nephrotoxicity-reduced antibiotic; **QIDP-designated by US FDA**, with global patent protection and expected commercial launch in upcoming years.
- **Mintide, Sugammadex, Bendamustine, Azacitidine, Fulvestrant** – Recent high-value oncology and supportive care launches with significant future revenue potential.
#### Consumer Healthcare: RESET
- **RESET** is a science-backed, D2C wellness brand targeting pain, sleep, detox, and mental wellness.
- Uses nano-formulations, plant-based ingredients, and AI-driven diagnostics for personalized health recommendations.
- Achieved **25x YoY growth** and 20% repeat purchase rate; positioned for expansion in domestic and international markets.
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### **R&D & Innovation Strategy**
Led by the **Venus Medicine Research Centre (VMRC)** – DSIR-approved, GLP-accredited, CPCSEA-compliant – the company drives innovation through:
- **Renal Guard Technology** – Proprietary platform to reduce nephrotoxicity of antibiotics like polymyxin B, colistin, and amikacin.
- **Antibiotic Resistance Breakers (ARBs)** – Enhance efficacy of existing antibiotics; core to the **PLEA (Preserving Life of Existing Antibiotics)** initiative.
- **Novel Drug Delivery Systems (NDDS)** – Including nanotechnology, pulsatile release, targeted delivery.
- **Gene Editing (CRISPR-Cas)** – In early development for next-gen antimicrobials; among 3 Indian candidates featured in the **WHO 2023 Global Antibacterial Pipeline Report**.
- **Organ-on-a-Chip (OOC)** – India’s **first human Kidney-on-a-Chip lab**, used to validate VRP-034’s safety and accelerate pre-clinical development.
#### Key Pipeline in Development:
| Candidate | Status | Indication |
|--------|--------|------------|
| **VRP-034** | Clinical Readiness / Pre-IND | Life-threatening Gram-negative infections (QIDP-designated) |
| **VRP-035/VRP-044** | Pre-clinical | Nephroprotective versions of amikacin and colistin |
| **VRP-048** | Pre-clinical | Meropenem + MBL inhibitor combo for cUTI and pneumonia |
---
### **Manufacturing & Regulatory Excellence**
- **9 Globally Benchmark Facilities**:
- **India**: Panchkula (Haryana), Baddi (Himachal Pradesh)
- **Germany**: Werne (subsidiary Venus Pharma GmbH)
- **EU-GMP, UNICEF, WHO-GDP, PIC/S (Malaysia, Ukraine, Moldova), KSA SFDA, TGA, SAHPRA, and ISO certifications** validate quality and credibility.
- **Robotic PFS Line** – For enoxaparin with 20M+ annual capacity; also approved in Malaysia (NPRA), enabling faster global approvals via mutual recognition.
- **Central Plant Coordination (PCD)** and **IoT/AI-driven monitoring** ensure efficiency and compliance.
---
### **Global Market Presence & Commercial Strategy**
- **International Revenue**: ₹468 crore (72% of total ₹648 crore in FY25), driven by regulated and emerging markets.
- **Top Markets**:
- **Europe**: Germany, Italy, Spain, UK
- **Middle East & Africa**: Saudi Arabia, UAE, Libya, Morocco, Sudan
- **Asia**: Thailand, Philippines, Myanmar, Nepal
- **Americas**: Mexico, Colombia, Ecuador
- **Regulatory Strength**: More than **1,050 marketing authorizations (MAs)** globally, with **430+ active** and plans to **activate 100+ dormant MAs in FY26**.
- Strategic **regulatory dossiers in submission** across EU, UK, ASEAN, and LATAM to enter 100 countries by 2025–26.
---
### **Digital Transformation**
Venus Remedies is a digital pioneer in the Indian pharma space:
- **Davai App**: B2B e-commerce platform for digital order fulfillment; covers 10,000+ stockists in 2,400+ towns.
- **SpineNextGen ERP + PharmaWRK + Luna Intelligence**: Integrated digital ecosystem for CRM, forecasting, and field engagement.
- **AI & Predictive Analytics**: For **pricing, bid strategies, gross contribution modeling**, and **launch velocity tracking**.
- **Customer Delight Online**: Centralized order management system for domestic and international operations.
- **WebXR for MedEd**: Immersive product training using 8th Wall platform.
- **Fully Paperless Operations** targeted for FY26.
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### **Strategic Growth Pillars**
1. **Therapeutic Expansion**:
- Focus on **oncology, CNS, anti-infectives, and high-gross contribution (GC)** products like Meropenem and Enoxaparin.
- Reduced over-reliance on antibiotics; **oncology grew over 30% in EU** in FY24.
2. **Geographic Diversification**:
- Strong presence in **PIC/S countries** (32+ including Ukraine, Malaysia); expanding into LATAM, ASEAN, CIS.
- Won **UNICEF & PAHO global tenders** – critical for access in underserved markets.
3. **Portfolio Penetration**:
- Deepening relationships with **existing partners** (e.g., Cipla, Zydus in CDMO).
- Launching **private-label products** in Asia, CIS, and LATAM.
4. **Institutional & Government Business**:
- Domestic: Supplying **Pradhan Mantri Bharatiya Jan Aushadhi Kendras**, Indian Railways, state hospitals.
- International: Institutional tenders in **Saudi Arabia, Ukraine, Mexico, Peru**.
- **100% institutional sales to public hospitals**, targeting 1% market share in key brands.
5. **R&D Commercialization**:
- Shifting from **IP creation to value generation**.
- In-licensing key assets: **MET-X (MBL inhibitor)** from Infex Therapeutics (UK) for combo development.
- Collaborations with **Veeda Clinical Research (India), Nortis Bio (US), Newcells Biotech (UK)**.
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### **Financial & Operational Highlights (FY25)**
- **Total Revenue**: ₹648 crore
- **International**: ₹468 crore (72%)
- **Product Approvals**: **285 FY25** – record high, primarily for international markets.
- **Manufacturing Upgrades**: Automation, debottlenecking, increased batch sizes (e.g., Vancomycin from 36k to 72k units).
- **Contract Manufacturing (CDMO)**: Expanded with two new agreements; serving top Indian and international players.
- **Patents & IP**: Over **130 granted patents, 125 trademarks, 17 copyrights** globally.
- **Government Recognition**: DSIR R&D registration (customs duty exemption), beneficiary of **Pharma PLI scheme (₹10 crore disbursement)**.
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### **Sustainability & Global Health Impact**
- Member of **AMR Industry Alliance, India AMR Innovation Hub, Vivli AMR Registry**.
- **Pioneer in AMR R&D**: VMRC contributes 5 of India’s 10 preclinical candidates in the **WHO Antibacterial Pipeline Review**.
- **Affordable Access**: Repurposed antibiotics with ARBs to combat resistance in low- and middle-income countries.
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### **Key Recognition**
- **FICCI Healthcare Award 2023** – For Organ-on-a-Chip technology.
- **PLI Scheme Beneficiary** – Recognized innovator in the pharmaceutical sector.
- **Global Tender Wins** – UNICEF, PAHO, Saudi MoH, INSABI Mexico.
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