Themis Medicare Limited is primarily engaged in the manufacture and sale of synthetic bulk drugs and formulations, with a focus on anti-tuberculosis and anaesthesia segments.

Though Themis faced disruptions leading to a decline in net revenue by 33.3% in Q2 FY26, the APIs segment notably reported a growth of 31% year-on-year, illustrating diversification in their core operations.

The company is concentrating on the hospital business, aiming to achieve leadership in the Indian market by leveraging its critical care footprint; their API growth aligns with this strategic thrust.

Themis continues to focus on high-margin brands and products, investing heavily in R&D to bolster its competitive edge and develop differentiated products. Forward integration efforts include leveraging strong partnerships through global licenses.