Aptus Pharma Limited has been assigned an 'Issuer Rating' of CARE BB; Stable by CARE Ratings. The rating follows strong revenue growth and an improved capital structure post its September 2025 IPO.
Aptus Pharma Receives CARE BB; Stable Issuer Rating
Aptus Pharma Limited has been assigned an 'Issuer Rating' of CARE BB; Stable by CARE Ratings Limited. This rating reflects the company's general creditworthiness as of June 2026.
FY26 Total Operating Income: ₹46.57 crore
FY26 Profit After Tax: ₹4.62 crore
Reader Takeaway: Strong revenue growth and improved capital structure are positives; however, stretched liquidity and working capital intensity remain concerns.
What just happened
CARE Ratings has assigned Aptus Pharma Limited an 'Issuer Rating' of CARE BB; Stable. This independent opinion assesses the company's overall creditworthiness.
Why this matters
The rating provides investors with an independent assessment of Aptus Pharma's credit risk. A stable outlook suggests the rating is unlikely to change in the near term, offering some predictability.
The backstory
Aptus Pharma completed its IPO in September 2025, infusing ₹13.02 crore in equity and significantly boosting its net worth to ₹23.29 crore in FY26 from ₹6.94 crore in FY25. The company also reported substantial year-on-year growth in operating income.
What changes now
The rating offers a benchmark for the company's credit profile. It may influence the company's ability to secure future debt financing on potentially better terms.
Risks to watch
Despite strong revenue growth (up 90% to ₹46.57 crore in FY26) and improved net worth, the company faces operational and liquidity concerns. Its operating cycle remains elongated at 163 days in FY26, leading to a negative cash flow from operations of ₹5.61 crore. The PBILDT margin contracted to 15.99% in FY26 from 19.74% in FY25.
Peer comparison
Information on specific peers' ratings and financial metrics is not provided in the filing.
Context metrics (time-bound)
- FY26 Total Operating Income: ₹46.57 crore (up from ₹24.56 crore in FY25)
- FY26 Profit After Tax (PAT): ₹4.62 crore (up from ₹3.10 crore in FY25)
- FY26 Net Worth: ₹23.29 crore (up from ₹6.94 crore in FY25)
- FY26 Gearing Ratio: 0.31x (down from 1.49x in FY25)
- FY26 Operating Cycle: 163 days (up from 148 days in FY25)
- FY26 PBILDT Margin: 15.99% (down from 19.74% in FY25)
What to track next
Investors should monitor the company's progress on geographical expansion into West Bengal, Maharashtra, Goa, and Rajasthan, as well as its entry into the nutraceutical and cosmeceutical segments. Key indicators to watch include improvements in the working capital cycle and positive operational cash flows.