Themis Medicare (THEMISMED)

FairStock Score: 8/100 — RISKY

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• Latest quarter turned profitable: ₹90 Cr sales and ₹10 Cr net profit
• Low debt/equity of 0.25 provides balance sheet cushion
• Promoter holding is high at 67.11%, aligning ownership with minority investors
• Piotroski F-Score of 6/9 suggests some fundamental improvement
• ROCE of 10.37% shows operations are generating a positive capital return

Concerns

• Trailing ROE is -7.35% and P/E is 0.00, reflecting negative or negligible full-year earnings
• Sales are declining at -3.92%, so the business is shrinking
• P/B of 2.73 is expensive relative to book value of ₹35.07 when returns on equity are poor
• FairStock Score of 6/100 and a wide 52-week range of ₹64.95-₹148 signal high risk

AI Analysis

Let me look at Themis Medicare as a business, not a ticker. The first thing I notice is that the scoreboard is mixed. The company has a price of ₹95.66 and a book value of ₹35.07, so I am paying 2.7 times book. Yet reported ROE is -7.35%, meaning the business has destroyed shareholder value over the trailing year. A P/E of 0.00 is just another way of saying current earnings are not there. Graham would remind me that no statistical bargain exists when you pay a premium for a sub-par return on equity. On the positive side, the balance sheet is not reckless: debt/equity is only 0.25, and ROCE is 10.37%, so operations cover capital costs better than the equity line suggests. Promoters hold 67.11%, so their interests are tied to mine. The latest quarter offers a glimmer: ₹90 Cr of sales and ₹10 Cr of net profit. If that quarterly rate were sustainable, annualized profit would be roughly ₹40 Cr, making a ₹790 Cr market cap less absurd—but one quarter is not a trend. Sales are still shrinking at -3.92%, and the Piotroski F-Score of 6/9 is okay, not great. The FairStock Score of 6/100 screams risky. This is a potential turnaround, not a compounder. I would want several more quarters of consistent profits, positive ROE, and renewed revenue growth before putting capital here, and even then I would demand a larger margin of safety than this price offers.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer