Akums Drugs and Pharmaceuticals Limited (AKUMS) share price
₹765.75 on NSE as of 2026-09-04. -1.90% on the day. market cap ₹12,052 Cr. P/E 40.2. 52-week range ₹414.05 to ₹780.55. Healthcare.
What the company does
Incorporated in 2004, ADPL is a leading contract manufacturer of formulations for domestic as well as multinational pharmaceutical and wellness companies in India. ADPL has 12 facilities in Uttarakhand and Himachal Pradesh for its formulations manufacturin g business and three units in Punjab and Haryana for its API manufacturing business. These manufacturing units are housed under ADPL and its various subsidiaries. The Group has commercialised more than 4,000 formulations across more than 60 dosage forms. In FY2020, the company raised Rs. 500 crore from Quadria Capital in exchange for a 15.09% stake, of which Rs. 320.0 crore was infused into the company and the balance was paid to the promoters against sale of shares . The company was listed on the national stock exchanges in August 2024.
Filed by ICRA, page 5.
Akums Drugs Q1 FY27: Revenue ₹1,167 Cr, a ₹56 Crore Cosmetics Purchase, and 50.6 Billion Units of Annual Capacity
At a glance
Akums Drugs & Pharmaceuticals reported Q1 FY27 revenue of ₹1,167 crore, up 13.9% year-on-year from ₹1,024 crore and up 0.8% over the ₹1,158 crore of the preceding quarter. Operating profit came in at ₹175 crore against ₹129 crore a year ago, with margin at 15.0% versus 12.6%. PAT was ₹100 crore.
The quarter had events in it. On 23 July, a wholly-owned subsidiary agreed to buy Oriflame India's manufacturing business — two plants and a leased warehouse — for ₹56 crore. In the same quarter, the Income Tax Department passed an assessment order raising a demand of ₹1,560.18 million on the consolidated group for the block period April 2018 to March 2025, against which the group has filed an appeal and deposited ₹47.01 million under protest. Shareholders approved a ₹3 per share dividend at the 10 July AGM. And the company finished spending the last of its 2024 IPO money, which after two years is less an event than the closing of a very long tab.
Segment-wise, CDMO posted ₹964 crore of revenue (+18.6% YoY), while API at ₹32 crore, trade generics at ₹21 crore and international branded formulations at ₹35 crore all shrank. Management describes the corporate margin guidance for the year as 14% to 15%.
The company's cumulative annual formulation capacity stands at 50.6 billion units.
Introduction
Akums was incorporated in April 2004 and built its first plant in Haridwar for oral solid dosage forms. What followed reads like a company that could never quite stop adding a facility. Oral liquids and sterile products came next, then a nutraceutical unit, then Asian markets and an R&D lab in Mumbai, then dedicated facilities for hormones, cosmetics and dermatology, then a plant specifically for β-lactam anti-infectives and steroids — a sentence in which every clause is a separate building.
In 2021 it acquired Parabolic Drugs to enter APIs, set up a dedicated penems facility at Kotdwar, and launched Akumentis to sell branded formulations under its own name. Plants 1, 2 and 3 received EU-GMP accreditation. Plant 3 is ANVISA-certified. The company listed on NSE and BSE on 6 August 2024, raising ₹6,800 million through a fresh issue of 10,037,708 shares at ₹679 apiece, alongside an offer for sale of 17,330,435 shares by selling shareholders.
Since inception, Akums has manufactured 4,146 commercialised formulations across more than 60 dosage forms. In FY26 it made products for 26 of the top 30 Indian pharmaceutical companies — which means that in the aisle of any Indian chemist, a shopper picking between two rival brands has a reasonable chance of putting the same factory in the basket twice.
The recent record is dense with paperwork of the good kind and the awkward kind alike: 230 dossiers filed in FY26, 65 DCGI approvals, 169 FSSAI approvals, a first European dossier approval and first commercial dispatch — and, separately, an income tax search and seizure operation conducted in January 2025 across offices, manufacturing units and residences of selected key managerial personnel, with the assessment order arriving in the quarter under discussion. As on March 2026, the group has 15 subsidiaries, including two foreign wholly-owned entities and a foreign JV. FY26 capex was ₹222 crore; management has guided ₹300 crore for FY27.
Business model
Akums is a contract development and manufacturing organisation, which is the industry's dignified way of saying: other companies put their name on the box, Akums makes what goes inside it. CDMO contributed roughly 80% of FY26 revenue and 82.6% of Q1 FY27's.
The dosage-form list is where things get delightful. Tablets, capsules, liquid orals, vials, ampoules, blow-filled seals, topical preparations, eye drops, dry powder injections, and — with the straightest possible face in an official business profile — gummies. Over 60 dosage forms in total. The in-house R&D technologies include the inlay tablet, the tri-layered tablet, the tablet-in-tablet, and the bi-layered sustained-release tablet-in-tablet, a product line that suggests somebody in a lab in Mumbai looked at a tablet and thought: what if two.
The other four segments fill in the edges. Domestic branded formulations sell under Akumentis across gynaecology, cardiology, orthopaedics, paediatrics and dermatology — ~10% of FY26 revenue. International branded formulations run through distributor partnerships across a stated 60-plus geographies at ~3%. API manufactures active ingredients and intermediates for internal use and outside customers at ~4%. Trade generics distributes through trade channels at ~2%. By revenue type, 88% is manufactured product, 8% traded, 4% service.
The physical footprint is 14 manufacturing units — 3 API and 11 formulation — with annual capacity of 47.9 billion oral solid tablets, 417.6 million oral liquid bottles, 767 million injectable/sterile units, 158.4 million topical tubes, and 737 metric tonnes of API. CDMO utilisation was ~43% in FY26, up from ~25% in FY24, and management put it at "50-odd percent" in Q1 FY27 against a historically indicated practical peak of "55%, 58%, 60-odd percent." Management states there is no subcontracting: "There is no concept of subcontracting." R&D runs across 4 facilities with 370+ scientists at 3.2% of FY26 revenue, and the CDMO economics are cost-plus, with management noting that at every purchase order the prevailing input price gets passed through.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Akums Drugs and Pharmaceuticals Limited.
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