Amanta Healthcare Limited (AMANTA) share price
₹197.75 on NSE as of 2026-09-11. -2.00% on the day. market cap ₹749 Cr. P/E 47.5. 52-week range ₹95.03 to ₹205.89. Healthcare.
What the company does
IPO) of around Rs 126 crore. Proceeds from IPO is being used towards capacity expansion of Steriport and SVP brands. The expanded capacity is expected to commence from April 2026, leading to healthy growth in medium term. The business risk profile remains healthy with stable operating margin of 21-22%. The ratings continue to reflect the established market position of AHL in parenteral business, the large distribution network, wide product profile and sound operating efficiency. The ratings also factor in extensive experience of AHL promoters in the parenteral business. These strengths are partially offset by modest, albeit improving, financial risk profile, exposure to intense competition and susceptibility of operating margin to volatility in prices of packing material.
Filed by CRISIL, page 2.
Amanta Healthcare Q1 FY27: Revenue ₹68.8 Cr, a 10.8 MW Solar Plant Switched On, and SteriPort Line 3 Still Waiting on an Inspection
At a glance
Amanta Healthcare makes the bags and bottles of salty water that hospitals hang above your head, and it has spent the last year attempting to make substantially more of them. Q1 FY27 revenue came in at ₹68.80 crore against ₹65.31 crore a year earlier, a gain of 5.34%. Operating profit was ₹14.54 crore at a 21.13% margin. PAT was ₹3.31 crore, down 5.70% from ₹3.51 crore.
The headline event of the quarter was one that did not happen. SteriPort Line 3 — the ₹126 crore IPO's principal reason for existing — was originally targeted for Q1. Management attributes the slip to delays in civil construction, moving commencement to Q2 FY27, with FDA plan approval received and commercial production intended for the last week of August. The IPO monitoring report for the quarter records no deviation of funds, with delays in the SteriPort and SVP projects.
Meanwhile the 10.8 MWp captive solar plant at Kheda actually did get built, generating from May 30, 2026. A company waiting on an inspection for its main growth line spent the quarter quietly generating its own electricity, which is a very Gujarat solution to a very Gujarat problem.
Polymer prices, management notes, rose roughly 70–80% for about 45 days to two-and-a-half months. What that did to the cost line, and what a ₹5 crore PBT looks like next to a ₹244 crore borrowing book, follows.
Introduction
Incorporated in December 1994, Amanta Healthcare Limited develops, manufactures and markets sterile liquid products. Thirty-one years in, it is a niche pharmaceutical company built around parenterals — injections and infusions — using ABFS and Aseptic Blow Fill Seal and ISBM technologies, across six therapeutic segments: fluid therapy, diluents and injectables, ophthalmic, respiratory solutions, irrigation, and other formulations.
The company raised ₹126 crore through its IPO and listed on BSE and NSE on September 9, 2025 — 1,00,00,000 fresh equity shares at ₹126 each, a 100% fresh issue. Proceeds were earmarked for capital expenditure on new manufacturing facilities and general corporate purposes. As at June 30, 2026, ₹93.38 crore of the ₹126 crore had been utilised, with ₹32.62 crore unutilised and parked in fixed deposits in a monitoring account, earning ₹83.10 lakh of interest to date. The company attributes the underspend to deferred payments to suppliers pending completed milestones and delayed machinery orders pending finalisation of commercial terms.
Recent filings sketch the rest. On 16 February 2026, CRISIL upgraded the company's ₹245 crore of bank facilities to Crisil BBB/Stable and Crisil A3+ from Crisil BBB-/Stable and Crisil A3, citing the rise in networth from ₹96 crore at March 2025 to ₹211 crore at September 2025 on the back of the IPO. On 10 February 2026, Urmil Oza was added as a senior management personnel and Shailesh Shah removed. On 2 January 2026, the company re-executed its agreement with Zodiac Energy for the 10.8 MWp solar plant, correcting an earlier filing that had described it as 10.8 KWp — a factor of one million, which is the sort of typo that makes a compliance officer's morning interesting.
The Board met on August 5, 2026, approved the Q1 results and the FY26 Board's Report, convened the 31st AGM for September 16, 2026 by video conferencing, and dissolved the IPO Committee constituted back in August 2024. Its work, in the paperwork sense, was done.
Business model
Amanta sells sterility. That is the whole trick. Anyone can put dextrose in water; the value is in a bottle that has never once been touched by a human hand between formation and sealing.
The ABFS lines form, fill and seal a bottle in a single automated step with zero human contact, producing eight bottles in about fifteen seconds, with nitrogen purging for sensitive formulations like paracetamol. The ISBM lines take preforms and stretch-blow them into polypropylene bottles from 100 ml upward, which are then air washed, WFI washed, dried, filled and sealed. Amanta was first to bring ISBM to India, and under its SteriPort brand of two-port PP IV systems, management estimates a 50–60% domestic market share in PP IV bottles.
The revenue split is refreshingly unglamorous. Fluid therapy is 63%, formulations 17%, diluents and injectables 9%, respiratory solutions 5%, irrigation 5%, ophthalmic 2%. Sixty-three percent of a pharmaceutical company's revenue is, functionally, extremely well-behaved salt water. SteriPort alone was about 44% of Q1 FY27 revenue.
Three channels carry it out the door. Domestic branded generics go through roughly 320 distributors and stockists with a 96-person sales team, aimed at hospitals, nursing homes and specialists in oncology, paediatrics and ICUs. Exports were about 39% of FY26 revenue across 21 markets, anchored by a 20-plus-year footprint in the UK. Product partnering and contract manufacturing contribute roughly 8–10%.
Manufacturing is one integrated WHO-GMP and ISO-certified site at Hariyala, Kheda, Gujarat, spanning 66,852 square metres with seven production lines — four LVP including two SteriPort ISBM, and three SVP. FY26 installed capacity: 5.7 crore units of LVP excluding SteriPort, 20.9 crore SVP, 6.6 crore SteriPort bottles. Utilisation across the parenterals sat around 96%.
The raw material is imported plastic granules, sourced 77.2% from South Korea and 22.8% from Thailand, with the top ten suppliers accounting for 76% of materials consumed. Granules are derived from crude. A company whose flagship innovation is a plastic bottle is, at the input end, a crude oil derivative business wearing a lab coat. Forty-seven products, registered across 120 international jurisdictions, 506 employees, about 1,700 with contract workers.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Amanta Healthcare Limited.
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