Stock Price Movement and Market Context
The stock opened the day with a gap up of 7.56%, reaching an intraday high of Rs.87.5. However, it reversed course sharply, closing at the day’s low of Rs.78.7, down 3.38% on the day. This intraday volatility was notably high at 7.81%, reflecting investor uncertainty. Themis Medicare underperformed its sector by 1.93% on the same day, while the broader Sensex index declined by 0.92%, closing at 81,546.21 points.
The stock’s current trading levels are below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained downward momentum. The 52-week high for Themis Medicare was Rs.256, highlighting the steep decline of 68.72% over the past year, in stark contrast to the Sensex’s 6.59% gain during the same period.
Financial Performance and Profitability Concerns
Themis Medicare’s financial metrics reveal persistent challenges. The company has reported negative results for four consecutive quarters, with the latest quarter’s Profit Before Tax (PBT) excluding other income at a loss of Rs.6.69 crores, representing a 152.0% decline compared to the previous four-quarter average. Net sales over the last six months stood at Rs.175.57 crores, down 26.85%, while the net loss after tax (PAT) for the same period was Rs.17.84 crores, also deteriorating by 26.85%.
Operating profit has contracted sharply, with an annualised decline rate of 189.22% over the last five years. This long-term trend has contributed to the stock’s current "Strong Sell" Mojo Grade of 17.0, downgraded from a "Sell" rating on 1 February 2025. The company’s market capitalisation grade remains low at 3, reflecting its diminished market standing.
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Valuation and Risk Profile
Themis Medicare’s valuation metrics indicate elevated risk. The stock is trading at levels considered risky relative to its historical averages. Over the past year, the company’s profits have fallen by 150.9%, while the stock price has declined by 68.72%. Despite the company’s size, domestic mutual funds hold no stake in Themis Medicare, which may reflect a cautious stance given the company’s recent financial trajectory.
While the company’s debt servicing capability remains relatively strong, with a low Debt to EBITDA ratio of 0.86 times, this has not translated into improved profitability or investor confidence. The stock has underperformed not only the Sensex but also the BSE500 index over the last three years, one year, and three months, underscoring its below-par performance in both the long and near term.
Sector and Market Environment
The Pharmaceuticals & Biotechnology sector has experienced mixed performance, with some indices such as NIFTY Realty also hitting 52-week lows today. The broader market environment remains subdued, with the Sensex trading below its 50-day moving average, although the 50DMA remains above the 200DMA, indicating some underlying market support.
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Summary of Key Metrics
To summarise, Themis Medicare Ltd’s stock has declined to Rs.78.7, its lowest level in 52 weeks, reflecting a year-long return of -68.72%. The company’s financial results have shown consistent negative trends, with operating profit shrinking at an annualised rate of -189.22% over five years and net sales declining by 26.85% in the latest six months. The stock’s Mojo Grade of Strong Sell and a Mojo Score of 17.0 further highlight the challenges faced by the company.
Despite a manageable debt profile, the lack of positive earnings and sustained losses have weighed heavily on the stock price. The absence of domestic mutual fund holdings adds to the cautious market perception. The broader market environment, with the Sensex and sector indices also under pressure, compounds the difficulties for Themis Medicare Ltd.
Conclusion
Themis Medicare Ltd’s fall to a 52-week low of Rs.78.7 encapsulates a period of financial contraction and market underperformance. The company’s declining sales, persistent losses, and valuation risks have contributed to this significant price level. While the company maintains a low debt burden, the ongoing negative earnings and subdued market sentiment have kept the stock under pressure throughout the past year.
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