1. At a Glance
Ladies and gentlemen, presentingTake Solutions Ltd, the life sciences and support services specialist that’s currently living more on the “support” side of the equation than the “science” one. Listed at a modest₹30.9with amarket cap of ₹456 crore, this is a company that’s been on more mood swings than the Sensex during election week.
With aP/E of 114,Book Value ₹1.73, and anROE of a jaw-dropping 644%(don’t celebrate yet — it’s a mathematical illusion of low equity), this stock has turned heads for reasons both financial and fictional. Thepromoter holdingis now just5.19%, down from 53% earlier this year — yes, they basically left the WhatsApp group.
Recent board meeting notes from October 2025 scream:Loss ₹697.36 million,auditors resigned,going concern doubts, andtax litigations ₹720.99 million. If this were a Bollywood movie, the climax would feature an auditor throwing balance sheets off a cliff while shouting, “Yeh company chal nahi sakti!”
And yet — and this is the punchline — the stock hassoared 255% in 6 monthsand208% in 3 months. Because in the Indian stock market, logic took a sabbatical.
2. Introduction
If there were a reality show called“Bigg Boss: Corporate Edition”, Take Solutions would be the wildcard entry — a perfect mix of medical jargon, management drama, and mysterious promoter exits.
Founded in2000, this Chennai-based company once wore the crown of “clinical data science innovation.” Today, it’s more like a survivor of financial trials than clinical ones.
After selling its prime subsidiaries in FY23–FY24, it’s been trying to rebuild with whatever’s left in the lab fridge. Once upon a time,TAKE Global HoldingsandEcron Acunovaran advanced bioavailability and pharmacovigilance studies. Now, even the term “availability” sounds ironic.
Meanwhile, its Singapore parent,Take Solutions Pte Ltd, divested completely in September 2025. That’s right — the once 52.9% promoter is now at0% holding, having sold its shares off-market faster than you can say “exit strategy.”
Yet investors, in a rare display of optimism (or masochism), have pushed the price from₹6.5 to ₹30+, hoping for a resurrection. Maybe they believe in miracles, maybe they just love volatility.
3. Business Model – WTF Do They Even Do?
At its core,Take Solutions Ltdoperates inLife Sciences and Clinical Research— specifically, services like clinical trials, regulatory filings, pharmacovigilance, and bioequivalence testing. Basically, it helps pharma companies ensure that generics work as well as the originals — the “Pepsi vs. Coke” of the medical world.
The company’s flagship subsidiaryEcron Acunova Ltdconductsbioavailability (BA)andbioequivalence (BE)studies, focusing onPhase I trialsinvolving healthy volunteers. Recently, they’ve expanded to150 beds in Manipal, investing₹9 croreof the planned ₹12 crore. Because nothing says “commitment” like testing drugs on volunteers while your balance sheet flatlines.
On the digital front, TAKE once claimed to “enable cloud-driven patient-centric solutions” — translation: “We make healthcare sound like an IT startup.” Their Digital Healthcare wing works onAI-based diagnosticsandautomated medical management, though recent revenues suggest that AI might be the only thing still working.
Post-divestment, the group’s scale has shrunk drastically. Gone are the global arms likeAcunova Life Science (USA)andNavitas Thailand. What remains is a leaner, India-focused structure hanging on through Ecron Acunova. Think of it as the pharmaceutical version of a once-famous rock band now performing at local pubs.
4. Financials Overview
Let’s lock toQuarterly Results— September 2025 being the latest available consolidated data.
| Metric | Sep 2025 (Latest Qtr) | Sep 2024 (YoY) | Jun 2025 (QoQ) | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue | ₹0.00 Cr | ₹0.05 Cr | ₹0.00 Cr | -100% | 0% |
| Operating Profit | ₹-0.30 Cr | ₹-0.90 Cr | ₹-0.44 Cr | -66.7% | +31.8% |
| PAT | ₹6.29 Cr | ₹-1.58 Cr | ₹-0.91 Cr | +497.5% | +791% |
| EPS (₹) | 0.43 | -0.11 | -0.06 | NA | NA |
Commentary:Revenue has flatlined to literal zero, but the company posted a ₹6.29 croreprofit. How? A cameo by “Other Income,” likely from financial settlements or asset sales. In accounting, that’s called “pulling a rabbit out of a balance sheet.”
The quarterly EPS jumped to₹0.43, annualizing to ₹1.72, giving a forward P/E that makes no sense — because the E in P/E is like a guest appearance.
5. Valuation Discussion – Fair Value Range Only
Method 1: P/E Basis
- EPS (annualized): ₹3.26 (FY25 trailing)
- Industry P/E: 36.8
- Fair Value Range: ₹120–₹150 (theoretical, if operations normalize — huge “if”).
Method 2: EV/EBITDA
- EV: ₹455 Cr
- EBITDA (TTM): ₹5 Cr (negative and volatile)
- EV/EBITDA ≈ 82.9× — the kind of ratio you see when investors run on vibes, not numbers.
Method 3: DCFWith erratic cash flows and near-zero revenue, any DCF is purely academic. Even if we assume revival with ₹50 Cr OCF and 10% WACC, fair range might hover ₹25–₹40.
Educational Disclaimer:This fair value range is foreducational purposes onlyand isnot investment advice.
6. What’s Cooking – News, Triggers, Drama
Ah, where do we begin?
- Auditor Exit (Oct 2025):Sundar Srini & Sridhar LLPresigned after Q2 citing “fee disagreements.” Translation: “You’re broke, and we don’t audit for peanuts.”
- Promoter Exodus (Sep–Nov 2025):Singapore-basedTake Solutions Pte Ltdand promoter group entities sold nearly all holdings off-market, reducing promoter holding from 53.4% to5.19%. Nothing screams “confidence” like dumping shares mid-quarter.
- Tax Litigations:₹720.99 million pending — because why not add a little legal spice to an already boiling pot.
- Loss FY25 H1:₹697.36 million. The Board note itself questions the “going concern” assumption. In auditor-speak, that’s the corporate equivalent of writing your own obituary.
- New Owner
