# Anupam Rasayan India (ANURAS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/anuras

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,162
- Change: +0.89%
- As of: 2026-11-06
- 1D return: +0.89%
- 5D return: +1.62%
- 1M return: +5.86%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

ANURAS is trading at ₹1,150.00 as of November 5, 2026, exhibiting a complex technical structure where short-term price action conflicts with broader trend indicators. On the daily chart, the stock has positioned itself above its 20-period EMA and SMA, suggesting immediate resilience, yet it remains firmly below the 50-period EMA, 200-period SMA, and Supertrend, which are all bearish. This divergence is corroborated by an ADX of 30.85, indicating that the current downward trend retains established strength despite the recent +0.4% daily gain.

On weekly and monthly horizons, the setup is uniformly bearish; the price sits below all major moving averages and the Supertrend on both timeframes. The monthly ADX of 63.84 signals strong conviction in the longer-term downtrend. Participation metrics show mixed signals: while a high-participation event was noted on November 5, volume ratios remain low (0.15), and downside events have outnumbered positive attention events significantly over the past month. The stock is currently located in the upper-middle of its 20-day range (+67.4%) but near the lower-middle of its 252-day range (+26.7%).

Key levels to monitor include resistance at ₹1,152.93 (0.26% above) and support at ₹1,144.97 (0.44% below). A break below ₹1,144.97 would likely reconfirm the bearish momentum, while a sustained move above ₹1,152.93 with increased participation would be required to challenge the immediate overhead supply.

- Trend Divergence: Daily price is above 20-period EMAs/SMA but below 50-period EMA, 200-period SMA, and Supertrend; weekly and monthly structures are fully bearish with price below all key averages.
- Momentum & Strength: Daily ADX stands at 30.85 (established trend) and monthly ADX at 63.84 (strong trend); recent daily return is +0.4% with low volume participation (ratio 0.15).
- Range Position: Trading at ₹1,150.00, situated in the upper-middle of the 20-day range (+67.4%) but lower-middle of the 252-day range (+26.7%), with a current drawdown of -16.4%.
- Critical Levels: Immediate resistance at ₹1,152.93 (+0.26%) and support at ₹1,144.97 (-0.44%); a close below support reinforces bearish bias, while a break above resistance is needed for short-term relief.

- Doji
- Harami
- Inside Bar

### What Changed

Anupam Rasayan India Limited (ANURAS) reported unaudited financial results for the quarter and half-year ended September 30, 2026, on November 6, 2026. A material change in the company's structure is the consolidation of Bliss GVS Pharma Ltd, effective September 28, 2026, which added INR 10,223.94 million in provisional goodwill to the balance sheet. This acquisition significantly expanded the consolidated top line; standalone revenue from operations was INR 3,971.87 million for the quarter, while consolidated revenue reached INR 8,059.35 million. For the half-year, standalone revenue was INR 7,259.92 million versus consolidated revenue of INR 14,609.15 million. Profit after tax also reflects this scale increase, with consolidated PAT at INR 649.69 million (quarter) and INR 1,161.83 million (half-year), compared to standalone figures of INR 456.50 million and INR 776.55 million respectively. Market data as of November 5, 2026, shows the stock trading at ₹1,150.00, up from ₹1,144.00.

- Consolidation of Bliss GVS Pharma Ltd effective September 28, 2026, added INR 10,223.94 million in provisional goodwill and nearly doubled consolidated quarterly revenue to INR 8,059.35 million from a standalone base of INR 3,971.87 million.
- Half-year consolidated profit after tax rose to INR 1,161.83 million, significantly higher than the standalone figure of INR 776.55 million, reflecting the contribution from the newly acquired entity.
- The stock closed at ₹1,150.00 on November 5, 2026, following a close of ₹1,144.00 in the prior session.

- [There is a wider acceptance of hybrid capital with the lack of options beyond bank lending: Bain Capital’s Sarit Chopra](https://economictimes.indiatimes.com/industry/banking/finance/banking/there-is-a-wider-acceptance-of-hybrid-capital-with-the-lack-of-options-beyond-bank-lending-bain-capitals-sarit-chopra/articleshow/135580424.cms)
- [Anupam Rasayan India Limited has submitted to the Exchange, the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ANURAS_06112026153623_ARILSLDSTX20261106076OutcomeofBM.pdf)

### Official Filings

Anupam Rasayan India Limited (ANURAS) reported unaudited financial results for the half-year ended September 30, 2026, on November 6, 2026. The company’s consolidated revenue from operations doubled to ₹14,609.15 million (H1FY27), driven by the acquisition of Bliss GVS Pharma Ltd effective September 28, 2026. This acquisition added INR 10,223.94 million in provisional goodwill and increased H1 consolidated profit after tax to ₹1,161.83 million. Standalone figures showed H1 revenue of ₹7,259.92 million and PAT of ₹776.55 million.

Governance and capital structure updates include a final dividend of ₹1.5 per equity share approved at the AGM held on September 30, 2026. Shareholding data as of September 30, 2026, indicates promoter holding remains stable at 59.07%, with public holding at 40.93%. Additionally, Catalyst Trusteeship Limited filed disclosures under Regulation 29 on October 27, 2026, regarding acquisitions of ANURAS equity shares acting as a debenture trustee.

- H1FY27 Consolidated Revenue: ₹14,609.15 million; H1FY27 Consolidated PAT: ₹1,161.83 million
- Acquisition Impact: Bliss GVS Pharma Ltd acquired effective September 28, 2026, adding INR 10,223.94 million in provisional goodwill
- Dividend Approval: Final dividend of ₹1.5 per equity share approved at AGM on September 30, 2026
- Shareholding Pattern (as of Sep 30, 2026): Promoter & Promoter Group 59.07%; Public 40.93%
- Regulatory Filing: Catalyst Trusteeship Limited filed Regulation 29 disclosures on October 27, 2026

- [Anupam Rasayan India Limited has submitted to the Exchange, the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ANURAS_06112026153623_ARILSLDSTX20261106076OutcomeofBM.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234448_ARILSLDSTX20261103074PriorIntimationofBM.pdf)
- [ANUPAM RASAYAN INDIA LIMITED has informed the Exchange about Board Meeting to be held on 06-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- [Board Meeting Intimation |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- [ANUPAM RASAYAN INDIA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19024_WebXMLFile_20261103_235103283.xml)
- [Anupam Rasayan India Limited has informed the Exchange about Earnings Call on the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, scheduled to be held on Friday, November 06, 2026, at 05:00 p.m. IST |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234954_ARILSLDSTX20261103075IntimationofEarningsCall.pdf)
- [Anupam Rasayan India Limited has informed the Exchange with copy of minutes of Annual General Meeting held on September 30, 2026 |SUBJECT: Shareholders meeting](https://nsearchives.nseindia.com/corporate/ANURAS_28102026172405_ARILSLDSTX20261028073Minutesof23rdAGM.pdf)
- [NAME(S)OF THE ACQUIRER AND ITS(PAC) : Catalyst Trusteeship Limited](https://nsearchives.nseindia.com/corporate/ANURAS_10272026154914_53963.zip)
- [NAME(S)OF THE ACQUIRER AND ITS(PAC) : Equity shares of Anupam Rasayan India Limited by Catalyst Trusteeship Limited acting as Debenture Trustee on behalf of Debenture Holders](https://nsearchives.nseindia.com/corporate/SAST_10272026161605_53944.zip)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 59.07 | PUBLIC_VAL: 40.93 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 19-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742099_19102026090252_WEB.xml)

### Fundamentals

Anupam Rasayan India (ANURAS) is executing a rapid expansion phase, marked by a sharp rebound in sales and profitability. For the quarter ended Q1 FY2026-27, revenue from operations rose sequentially to ₹654.98 crore, while Profit Before Tax (PBT) increased to ₹69.68 crore from ₹56.07 crore in Q4 FY2025-26. This follows a strong full-year trajectory where FY2025-26 sales reached ₹2,365 crore, up significantly from ₹1,437 crore in FY2024-25, with net profit growing from ₹160 crore to ₹222 crore.

However, this growth is accompanied by rising financial leverage and interest costs. Borrowings increased steadily from ₹1,069 crore in Mar 2024 to ₹1,867 crore in Mar 2026. Consequently, finance costs rose to ₹49.19 crore in Q1 FY2026-27, and annual interest expenses climbed to ₹149 crore in Mar 2026. While operating efficiency has improved—with Cash Conversion Cycle dropping sharply to 377 days in Mar 2026 from 715 days in Mar 2025—the company remains capital-intensive, evidenced by Fixed Assets nearly doubling to ₹3,713 crore over two years.

Earnings quality shows mixed signals; CFO/EBITDA conversion improved to 72% in Mar 2026 after a low of 3% in Mar 2025, suggesting better cash realization recently. Return on Capital Employed (ROCE) has stabilized at 7% for the last two years, indicating that current asset growth is not yet translating into higher returns. Promoter holding remains stable at 59.07%, while Foreign Institutional Investors (FIIs) increased their stake to 8.65% in Sep 2026.

- Revenue and PBT Growth: Q1 FY2026-27 revenue hit ₹654.98 crore (sequential increase), with PBT rising to ₹69.68 crore, continuing a strong YoY trend from FY2025-26.
- Rising Leverage: Borrowings grew to ₹1,867 crore by Mar 2026, driving interest expenses to ₹149 crore annually and finance costs to ₹49.19 crore in Q1 FY2026-27.
- Efficiency Recovery: Working capital management improved significantly, with the Cash Conversion Cycle falling to 377 days in Mar 2026 from a peak of 715 days in Mar 2025.
- Stagnant Returns: ROCE has plateaued at 7% for Mar 2025 and Mar 2026, despite substantial capex (Fixed Assets at ₹3,713 crore), signaling a lag in return generation on new capacity.

### Bear Case

Technical indicators for Anupam Rasayan India (NSE: ANURAS) as of 5 November 2026 present a predominantly cautionary setup, characterized by sustained downward momentum across multiple timeframes. The stock is trading at ₹1,150.0, with daily, weekly, and monthly SuperTrend signals all indicating a bearish trend. Short-term moving averages are declining sharply; the 20-day SMA slope has fallen by -6.35 points over five days, while the 50-day SMA slope has dropped by -9.14 points, signaling weakening intermediate-term support. On a weekly basis, the 20-day EMA slope has plunged by -37.98 points, reflecting accelerated selling pressure. Relative Strength Index components show the minus DI (18.19 on daily, 26.98 on weekly) consistently outweighing the plus DI, confirming seller dominance. Performance metrics further underscore this deterioration, with the stock down -13.3% year-to-date and -15.4% over the last six months. The current drawdown stands at -16.4%, approaching the maximum historical drawdown of -20.2%. While immediate resistance is tight between ₹1,152.93 and ₹1,168.43, the broader technical structure suggests limited upside traction until these downtrend slopes stabilize.

- Multi-timeframe bearishness: Daily, weekly, and monthly SuperTrend directions are all bearish, with weekly minus DI (26.98) significantly exceeding plus DI (10.69).
- Accelerating negative momentum: Weekly 20-day EMA slope has declined by -37.98 points over five days, and daily 50-day SMA slope has dropped by -9.14 points.
- Significant underperformance: The stock is down -13.3% YTD and -15.4% over the past six months, with a current drawdown of -16.4% nearing its maximum of -20.2%.
- Tight overhead resistance: Immediate resistance levels cluster closely above the current price of ₹1,150.0, ranging from ₹1,152.93 to ₹1,168.43, limiting near-term upside potential.

- [There is a wider acceptance of hybrid capital with the lack of options beyond bank lending: Bain Capital’s Sarit Chopra](https://economictimes.indiatimes.com/industry/banking/finance/banking/there-is-a-wider-acceptance-of-hybrid-capital-with-the-lack-of-options-beyond-bank-lending-bain-capitals-sarit-chopra/articleshow/135580424.cms)
- [Anupam Rasayan India Limited has submitted to the Exchange, the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ANURAS_06112026153623_ARILSLDSTX20261106076OutcomeofBM.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234448_ARILSLDSTX20261103074PriorIntimationofBM.pdf)
- [ANUPAM RASAYAN INDIA LIMITED has informed the Exchange about Board Meeting to be held on 06-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- [Board Meeting Intimation |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- [ANUPAM RASAYAN INDIA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19024_WebXMLFile_20261103_235103283.xml)
- [Anupam Rasayan India Limited has informed the Exchange about Earnings Call on the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, scheduled to be held on Friday, November 06, 2026, at 05:00 p.m. IST |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234954_ARILSLDSTX20261103075IntimationofEarningsCall.pdf)
- [Anupam Rasayan India Limited has informed the Exchange with copy of minutes of Annual General Meeting held on September 30, 2026 |SUBJECT: Shareholders meeting](https://nsearchives.nseindia.com/corporate/ANURAS_28102026172405_ARILSLDSTX20261028073Minutesof23rdAGM.pdf)
- [NAME(S)OF THE ACQUIRER AND ITS(PAC) : Catalyst Trusteeship Limited](https://nsearchives.nseindia.com/corporate/ANURAS_10272026154914_53963.zip)
- [NAME(S)OF THE ACQUIRER AND ITS(PAC) : Equity shares of Anupam Rasayan India Limited by Catalyst Trusteeship Limited acting as Debenture Trustee on behalf of Debenture Holders](https://nsearchives.nseindia.com/corporate/SAST_10272026161605_53944.zip)

### FAQs

**What financial results did Anupam Rasayan India report for the half-year ended September 30, 2026?**

On November 6, 2026, the Board approved unaudited results. Consolidated revenue from operations was ₹14,609.15 million with a profit after tax of ₹1,161.83 million. Standalone figures showed revenue of ₹7,259.92 million and PAT of ₹776.55 million. The consolidated numbers include the acquisition of Bliss GVS Pharma Ltd effective September 28, 2026.

**How has the acquisition of Bliss GVS Pharma impacted the company's balance sheet?**

The acquisition, effective September 28, 2026, resulted in the recognition of INR 10,223.94 million in provisional goodwill within the consolidated financial statements approved on November 6, 2026. This significant addition to intangible assets reflects the purchase price allocation associated with integrating Bliss GVS Pharma into Anupam Rasayan India.

**What is the current technical trend and price performance for ANURAS shares?**

As of November 5, 2026, the daily Supertrend is bearish with the stock closing at ₹1,150.00. Year-to-date returns are -13.3%, while the 6-month return is -15.4%. The stock faces immediate resistance near ₹1,152.93 and support at ₹1,144.97. Annualized volatility stands at +28.6% with a current drawdown of -16.4%.

- [There is a wider acceptance of hybrid capital with the lack of options beyond bank lending: Bain Capital’s Sarit Chopra](https://economictimes.indiatimes.com/industry/banking/finance/banking/there-is-a-wider-acceptance-of-hybrid-capital-with-the-lack-of-options-beyond-bank-lending-bain-capitals-sarit-chopra/articleshow/135580424.cms)
- [Anupam Rasayan India Limited has submitted to the Exchange, the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ANURAS_06112026153623_ARILSLDSTX20261106076OutcomeofBM.pdf)
- [Financial Results |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234448_ARILSLDSTX20261103074PriorIntimationofBM.pdf)
- [ANUPAM RASAYAN INDIA LIMITED has informed the Exchange about Board Meeting to be held on 06-Nov-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- [Board Meeting Intimation |Meeting Date: 06-Nov-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- [ANUPAM RASAYAN INDIA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19024_WebXMLFile_20261103_235103283.xml)
- [Anupam Rasayan India Limited has informed the Exchange about Earnings Call on the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, scheduled to be held on Friday, November 06, 2026, at 05:00 p.m. IST |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234954_ARILSLDSTX20261103075IntimationofEarningsCall.pdf)
- [Anupam Rasayan India Limited has informed the Exchange with copy of minutes of Annual General Meeting held on September 30, 2026 |SUBJECT: Shareholders meeting](https://nsearchives.nseindia.com/corporate/ANURAS_28102026172405_ARILSLDSTX20261028073Minutesof23rdAGM.pdf)
- [NAME(S)OF THE ACQUIRER AND ITS(PAC) : Catalyst Trusteeship Limited](https://nsearchives.nseindia.com/corporate/ANURAS_10272026154914_53963.zip)
- [NAME(S)OF THE ACQUIRER AND ITS(PAC) : Equity shares of Anupam Rasayan India Limited by Catalyst Trusteeship Limited acting as Debenture Trustee on behalf of Debenture Holders](https://nsearchives.nseindia.com/corporate/SAST_10272026161605_53944.zip)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹1,149.97
- Risk regime: Price Risk Requires Attention

### Support levels
- 1137.35
- 1124.134375
- 1064.053125

### Resistance levels
- 1190.6025390625
- 1271.4128906249998
- 1313.9

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.89% |
| return_10 | +5.48% |
| return_1m | -0.70% |
| return_1y | +8.75% |
| return_20 | +5.86% |
| return_3m | -4.20% |
| return_5 | +1.62% |
| return_6m | -14.58% |
| return_since_start | +60.41% |
| return_ytd | -12.40% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -20.23% |
| annualized_volatility | +28.57% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Anupam Rasayan India Limited Q2 FY2026-27: Revenue up 23% sequentially

Revenue from operations rose 23% quarter on quarter to ₹805.94 crore in Q2 FY2026-27, up 10% year on year, while profit for the period increased to ₹64.97 crore. The quarter also saw negative free cash flow of ₹2,014.70 crore and a sharp expansion in the balance sheet, including higher borrowings and goodwill.

## Revenue and expenses

Revenue from operations was ₹805.94 crore, compared with ₹654.98 crore in Q1 FY2026-27 and ₹731.40 crore in Q2 FY2025-26. Total income increased to ₹821.17 crore from ₹667.55 crore in the preceding quarter.

Total expenses rose 22% sequentially to ₹731.71 crore, close to the pace of revenue growth. Materials consumed cost ₹397.48 crore and employee benefits ₹67.98 crore. Other expenses were ₹143.79 crore, little changed from ₹143.03 crore in Q1, but higher than ₹103.92 crore a year earlier.

## Profit, tax and finance costs

Profit before tax increased 28% sequentially to ₹89.46 crore, from ₹69.68 crore in Q1 FY2026-27, and was up from ₹75.54 crore in Q2 FY2025-26. Profit for the period rose to ₹64.97 crore from ₹51.22 crore in the preceding quarter and ₹57.15 crore a year earlier.

Basic and diluted EPS were ₹4.39, against ₹3.39 in Q1 and ₹3.93 in Q2 FY2025-26. Trailing twelve-month EPS was ₹15.84. Tax expense was ₹24.49 crore, compared with ₹18.47 crore in Q1. Finance costs rose 14% sequentially to ₹56.18 crore and were up from ₹35.98 crore a year earlier. Other income was ₹15.24 crore.

## Cash flow and liquidity

Operating cash flow was ₹303.16 crore, while investing cash flow was negative ₹2,317.86 crore. Free cash flow was negative ₹2,014.70 crore, alongside positive financing cash flow of ₹2,228.29 crore.

At 30 September 2026, cash and cash equivalents were ₹633.50 crore, up from ₹378.07 crore at 31 March 2026. Other bank balances increased to ₹130.68 crore from ₹15.56 crore over the same period.

## Assets and funding

Property, plant and equipment stood at ₹3,479.69 crore at 30 September 2026, compared with ₹2,980.06 crore at 31 March 2026. Capital work in progress increased to ₹293.62 crore from ₹114.43 crore. Goodwill rose to ₹1,693.57 crore from ₹663.46 crore. Total assets reached ₹11,394.89 crore.

Noncurrent borrowings were ₹853 crore and current borrowings ₹1,604.95 crore at 30 September 2026. Total equity was ₹7,196.30 crore, including non-controlling interest of ₹2,148.39 crore. The larger asset base and higher borrowing balances make investment and funding developments important alongside the quarter’s earnings growth.

## Key Takeaway

Q2 delivered higher revenue and profit than both Q1 FY2026-27 and Q2 FY2025-26, with EPS at ₹4.39. At the same time, substantial investing outflows, negative free cash flow and a larger balance sheet with higher borrowings put capital deployment and funding in focus.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +59.07%
- FII holding: +7.72%
- DII holding: +0.38%
- Mutual fund holding: +0.19%
- Retail holding: +2.48%
- Promoter pledged: +0.00%

### Major reported shareholders

- Kiran Pallavi Investments LLC — +31.80% (Bodies Corporate)
- Milan R Thakkar — +14.41%
- Anand Sureshbhai Desai — +9.73%
- Shraddha Anand Desai — +6.84%
- Rehash Industrial And Resins Chemicals Pvt Ltd — +6.34% (Bodies Corporate)
- Mona Anandbhai Desai — +3.64%
- Jayeshkumar Virendrabhai Patel — +3.64%
- Jainam Broking Limited — +3.28% (Clearing Members)
- Vikasa India Eif I Fund — +2.31%
- Thakkar Nileshkumar Farshuram (Huf) — +1.54% (HUF)

## Official filings

- 2026-11-07 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_07112026122328_ARILSLDSTX20261107081NewspaperAd.pdf)
- 2026-11-06 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_06112026153623_ARILSLDSTX20261106076OutcomeofBM.pdf)
- 2026-11-06 — Press Release: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_06112026154649_ARILSLDSTX20261106077PressRelease.pdf)
- 2026-11-06 — Earnings Presentation: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_06112026160341_ARILSLDSTX20261106078InvestorPresentation.pdf)
- 2026-11-06 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_06112026200036_ARILSLDSTX20261106079AudioRecording.pdf)
- 2026-11-06 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19024_WebXMLFile_20261106_200516406.xml)
- 2026-11-06 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19024_WebXMLFile_20261106_200720934.xml)
- 2026-11-06 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_06112026231616_RevisedFS.pdf)
- 2026-11-06 — Financial Results Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1755252_06112026114245_WEB.xml)
- 2026-11-06 — Financial Results Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1755250_06112026114213_WEB.xml)
- 2026-11-03 — Board Meeting Notice: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234448_ARILSLDSTX20261103074PriorIntimationofBM.pdf)
- 2026-11-03 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- 2026-11-03 — Board Meeting Notice: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19024_WebXMLFile_20261103_234754483.xml)
- 2026-11-03 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19024_WebXMLFile_20261103_235103283.xml)
- 2026-11-03 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_03112026234954_ARILSLDSTX20261103075IntimationofEarningsCall.pdf)
- 2026-10-28 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_28102026172405_ARILSLDSTX20261028073Minutesof23rdAGM.pdf)
- 2026-10-27 — Regulatory Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_10272026154914_53963.zip)
- 2026-10-27 — Regulatory Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SAST_10272026161605_53944.zip)
- 2026-10-19 — Shareholding Disclosure: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742099_19102026090252_WEB.xml)
- 2026-10-14 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_14102026124512_ARILSLDSTX20261014071ESGRating.pdf)
- 2026-10-12 — Regulatory Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Reg_10122026131315.zip)
- 2026-10-08 — Regulatory Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ARIL_10082026112318_53807.zip)
- 2026-10-08 — Regulatory Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Reg1_10082026124632.zip)
- 2026-10-07 — Generic Announcement: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ANURAS_07102026160120_ARILSLDSTX20261007070Non-ApplicablityCertificate.pdf)
- 2026-10-06 — Regulatory Filing: Anupam Rasayan India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Reg31_10062026141913.zip)

## News and market events

- 2026-11-05 — Economic Times: **There is a wider acceptance of hybrid capital with the lack of options beyond bank lending: Bain Capital’s Sarit Chopra** — Bain Capital’s Sarit Chopra highlights a growing acceptance of hybrid capital in India, driven by limited options beyond traditional bank lending and the need for flexible financing solutions that align with business transformation. The firm, which has deployed $1.2 billion in India this year, is raising its third Asia fund to target opportunities in growth, inflection, and defensive capital scenarios, including cross-border M&As and promoter deleveraging. This approach allows Bain to provide structured products like convertible instruments and equity alongside debt, addressing complex corpora — [Source](https://economictimes.indiatimes.com/industry/banking/finance/banking/there-is-a-wider-acceptance-of-hybrid-capital-with-the-lack-of-options-beyond-bank-lending-bain-capitals-sarit-chopra/articleshow/135580424.cms)
- 2026-10-07 — Economic Times: **Anupam Rasayan eyes US, Europe pharma push after Bliss deal, one-third revenue from drugs** — Anupam Rasayan India Ltd anticipates significant growth in its pharmaceutical segment over the next three years. The company expects pharmaceuticals to comprise one-third of overall revenue driven by the acquisition of Bliss GVS Pharma. Anupam's ability to offer integrated contract manufacturing services will facilitate its expansion in the US and Europe. Bliss currently operates at low capacity and presents opportunities for increased utilization. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/anupam-rasayans-bold-move-targeting-us-and-europe-pharma-markets-for-one-third-revenue-growth-post-bliss-acquisition/articleshow/134757273.cms)
- 2026-09-30 — CNBC-TV18: **How Anupam Rasayan plans to double Bliss GVS Pharma's rev in three years** — Vishal Thakkar, Deputy CFO, Anupam Rasayan India, revealed the plans to scale up its latest acquisition, in an interview with CNBC-TV18. Scroll down for the full interview. — [Source](https://www.cnbctv18.com/business/companies/anupam-rasayan-expects-2000-crore-revenue-from-its-new-acquisition-alpha-article-20001713.htm)
- 2026-09-29 — The Hindu: **Surat-based Anupam Rasayan completes ₹1,750-cr acquisition of 48.2% in Bliss GVS Pharma** — Surat’s Anupam Rasayan completes ₹1,750-crore Bliss GVS Pharma stake, deepening its move into finished dosage formulations and inorganic growth. — [Source](https://www.thehindubusinessline.com/markets/surat-based-anupam-rasayan-completes-1750-cr-acquisition-of-482-in-bliss-gvs-pharma/article71523837.ece)
- 2026-09-29 — The Hindu: **Anupam Rasayan completes purchase of 48.2 pc stake in Bliss GVS Pharma for ₹1,750 cr** — Specialty chemicals maker Anupam Rasayan India on Tuesday said it has completed the acquisition of a 48.2 per cent controlling stake in Bliss GVS Pharma for ₹1,750 crore, marking its push into finished dosage formulations. — [Source](https://www.thehindubusinessline.com/companies/anupam-rasayan-completes-purchase-of-482-stake-in-bliss-gvs-pharma-for-1750-cr/article71522884.ece)
- 2026-09-29 — Economic Times: **Anupam Rasayan completes Bliss GVS deal, targets Rs 4,000-crore integrated platform** — Anupam Rasayan India Limited has finalised its acquisition of a controlling interest in Bliss GVS Pharma, marking a strategic expansion into finished dosage formulations. This acquisition strengthens Anupam Rasayan's pharmaceutical portfolio, bolstered by Bliss GVS Pharma's extensive array of over 150 brands across several therapeutic segments, while also offering valuable growth avenues through their current manufacturing infrastructure. — [Source](https://economictimes.indiatimes.com/small-biz/trade/exports/insights/anupam-rasayan-completes-bliss-gvs-deal-targets-rs-4000-crore-integrated-platform/articleshow/134558472.cms)
- 2026-09-28 — MONEYCONTROL: **Augment Infrastructure Partners offloads Rs 1,096 crore Clean Max stake; Belgrave Investment Fund sells 4.67% stake in Electrosteel Castings** — Bulk Deals,Clean Max Enviro Energy Solutions,Electrosteel Castings,Bliss GVS Pharma,Paisalo Digital — [Source](https://www.moneycontrol.com/news/business/markets/augment-infrastructure-partners-offloads-rs-1-096-crore-clean-max-stake-belgrave-investment-fund-sells-4-67-stake-in-electrosteel-castings-14040311.html)
- 2026-09-21 — MONEYCONTROL: **Abu Dhabi Investment Authority sells over 2% stake in Lenskart Solutions** — Mazda,CP Capital,Anupam Rasayan India,Lenskart Solutions,Bulk Deals — [Source](https://www.moneycontrol.com/news/business/markets/abu-dhabi-investment-authority-sells-over-2-stake-in-lenskart-solutions-14034821.html)
- 2026-09-21 — CNBC-TV18: **FIIs turn net sellers, offload ₹576 crore on Monday; DIIs remain buyers** — Foreign institutional investors turned net sellers on Monday, offloading ₹576 crore after buying ₹600 crore on Friday. — [Source](https://www.cnbctv18.com/market/fiis-turn-net-sellers-offload-%25e2%2582%25b9576-crore-on-monday-diis-remain-buyers-19995099.htm)
- 2026-09-21 — CNBC-TV18: **Sensex jumps 564 points, Nifty ends above 23,400: 5 reasons behind today's market rally** — The Sensex rose 564 points to 74,859, while the Nifty Bank gained 112 points to 56,471. The Nifty Midcap index, however, fell 178 points to 62,013. — [Source](https://www.cnbctv18.com/market/sensex-jumps-564-points-nifty-ends-above-23400-5-reasons-behind-todays-market-rally-19994934.htm)
- 2026-09-21 — Mint: **Anupam Rasayan share price falls 5% after NCD issue announcement | NCD size, other details here** — Anupam Rasayan share price dropped almost 5% in early deals on the BSE on Monday, 21 September, after the company announced issuing non-convertible debentures (NCDs) to Aditya Birla Capital. — [Source](https://www.livemint.com/market/stock-market-news/anupam-rasayan-share-price-falls-5-after-ncd-issue-announcement-ncd-size-other-details-here-11789964385605.html)
- 2026-09-07 — CNBC-TV18: **11:11 | Oil nears $97; AfD makes history in Germany; fresh hopes for Russia-Ukraine talks** — Brent crude is climbing towards $97 as US-Iran tensions remain elevated, while fresh hopes emerge for Ukraine-Russia talks and Germany’s far-right AfD scores a historic state election win. Plus, HUL’s premiumisation push, EVs and hybrids overtaking petrol and more in today’s 11:11 roundup. — [Source](https://www.cnbctv18.com/business/oil-nears-97-afd-makes-history-in-germany-fresh-hopes-for-russia-ukraine-talks-19985286.htm)
- 2026-09-07 — Mint: **Steamhouse India IPO: Price band set at  ₹77-81 per share; check key dates, issue details** — Steamhouse India IPO price band has been set at  ₹77 and  ₹81 per share, launching on 9 September and closing on 11 September. The company plans to raise  ₹353 crore, primarily for debt repayment and facility expansions, with a strong client retention rate supporting its financial growth. — [Source](https://www.livemint.com/market/ipo/steamhouse-india-ipo-price-band-set-at-rs-77-81-per-share-check-key-dates-issue-details-11788750249196.html)
- 2026-09-07 — CNBC-TV18: **Anupam Rasayan shares in focus after it secures a six-year chemical supply contract from US firm** — Anupam Rasayan said the supplies are expected to be made over a multi-year period, with dispatches anticipated to commence from the latter half of the third quarter of the financial year 2027. — [Source](https://www.cnbctv18.com/market/anupam-rasayan-share-price-six-year-major-global-industrial-partnership-financial-consideration-timeline-19985188.htm)
- 2026-08-17 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty finds resistance at 24,350; ITC hits 52-wk low** — Stock Market Live Updates: We are in the second half of the day's trade, and the markets have managed a remarkable recovery from the lows. The Nifty has recovered over 130 points from lows, moving above the 24,350 mark. The Nifty Bank has turned green, jumping by over 150 points. Hindalco, HDFC Life and Bajaj Fin are the top gainers. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-reliance-hdfc-bank-cochin-nmdc-voltas-gmr-jupiter-share-price-liveblog-19970547.htm)
- 2026-08-17 — BUSINESS: **Market recovers from lows but trade lower; FMCG shares extend losses** — The Nifty traded below the 24,300 level, while market sentiment remained subdued in the absence of strong directional cues. Investors continued to monitor movements in crude oil and gold prices, along with developments on the global geopolitical front, for further indications on the market's near-term trajectory. — [Source](https://www.business-standard.com/markets/capital-market-news/market-recovers-from-lows-but-trade-lower-fmcg-shares-extend-losses-126081700486_1.html)
- 2026-08-17 — The Hindu: **Sensex today | Stock Market LIVE: Stock to buy today: Elgi Equipments (₹609.05)** — Sensex, Nifty, Share Prices Live updates: The  stock Elgi Equipments has been appreciating since February after it found support at ₹420. But after hitting a high of ₹634 on May 29, the price gradually moderated. The rally on Friday indicates that the scrip is likely beginning a new leg of rally now, which can potentially lift the stock to ₹740. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-17th-august-2026/article71354693.ece)
- 2026-08-14 — The Hindu: **Q1 Results Today Live: Anupam Rasayan PAT up marginally, Ashok Leyland, NMDC, Alkem Lab, BDL, Voltas, 3M India, Cochin Shipyard, Physicswallah, Cholamandalam Fin, PTC Ind, Natco Pharma, Borosil to announce Q1 results, TMPV, Max Health lead Nifty 50 losers after Q1, Page Ind, Jubilant, LG Electronics, Honasa shares zoom** — Q1 Results Today, 14th August 2026 Live Updates:  Follow Q1FY27 live updates from businessline — [Source](https://www.thehindubusinessline.com/markets/q1-results-today-live-updates-ashok-leylad-nmdc-alkem-lab-bharat-dynamics-voltas-3m-india-cochin-shipyard-physicswallah-cholamandalam-fin-ptc-ind-natco-pharma-tmpv-results-14-august-2026/article71340415.ece)
- 2026-08-14 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty recovers from lows; Welspun Living up 10%** — Sensex Today | Stock Market LIVE Updates: The markets are under pressure, with the Nifty index falling towards the 24,300 mark. The Nifty Bank is also trading on similar ground, falling below the 57,500 mark. Tata Motors PV, Hindalco, Max Health are the top losers. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-sensex-hdfc-bank-nifty-bank-q1-earnings-tata-motors-max-fin-defence-bdl-share-price-liveblog-19969121.htm)
- 2026-08-14 — The Hindu: **Sensex today | Stock Market Live: Sensex, Nifty open lower as West Asia tensions offset easing Fed rate hike bets** — Sensex, Nifty, Share Prices LIVE: Indian equities opened with a cautious bias on Friday as investors weighed easing expectations of a September US rate hike against persistent West Asia tensions, continued foreign selling and weekly losses, while softer crude prices offered some relief. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-14th-august-2026/article71341547.ece)
- 2026-07-15 — The Hindu: **Nifty gives up morning gains by midday; Bank Nifty outperforms as IT, metals drag** — Analysts see the 24,050–24,070 zone as crucial support for the Nifty, with upside capped near 24,300–24,320 unless fresh triggers emerge — [Source](https://www.thehindubusinessline.com/markets/stock-markets/nifty-gives-up-morning-gains-by-midday-bank-nifty-outperforms-as-it-metals-drag/article71224616.ece)
- 2026-07-15 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Patanjali Foods speaks to CNBC-TV18 as shares fall 20%** — Sensex Today | Stock Market LIVE Updates: It is the second half of the day's trade and the markets are holding ther ground in green. Despite the chaos in the Persian Gulf, the markets are moving on a strong footing. The Nifty is up over 150 points, rising to 24,200. The Nifty bank is also surging, with an uptick of over 550 points, hitting the 58,000 mark. Shriram Finance, Bajaj Fin and Axis Bank are the top gainers. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-infosys-wipro-it-stocks-ibm-angel-groww-hdb-hdfc-amc-life-share-price-liveblog-19945617.htm)

## Business profile

**Strategic vision:** Custom manufacturer of specialty chemicals for diverse industries.

### Business segments
- **Life Science Related Specialty Chemicals:** Focuses on specialty chemicals for life sciences, involving multi-step synthesis and complex technologies.
- **Performance Materials:** Involves multi-step synthesis and complex technologies for performance materials.

### Competitive strengths
- Proficiency in developing, simplifying, and commercializing complex chemical processes.
- One of the leading entities in India utilizing continuous and flow chemistry technology on a commercial scale.
- Extensive chemistry expertise encompassing a wide range of reactions and processes.
- Robust research and development capabilities.
- Efficient supply chain and backward-integrated facilities.
- Strong commitment to sustainable practices and decarbonization.

## Related stocks

- [Aarti Industries Limited (Chemicals)](https://faxioms.com/stocks/aartiind) — -0.47%
- [Atul Limited (Chemicals)](https://faxioms.com/stocks/atul) — -1.28%
- [Bayer Cropscience Limited (Chemicals)](https://faxioms.com/stocks/bayercrop) — +0.57%
- [Chambal Fertilizers & Chemicals Limited (Chemicals)](https://faxioms.com/stocks/chamblfert) — -0.90%
- [Clean Science and Technology Limited (Chemicals)](https://faxioms.com/stocks/clean) — -1.28%

## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/anuras
Markdown representation: https://faxioms.com/stocks/anuras?render=md