Bajaj Healthcare Ltd

Bajaj Healthcare Limited reported strong financial performance for Q2 and H1 FY27, with revenue from operations growing 18.9% YoY to INR175.9 crores and profit after tax rising 26.9% YoY. For the first half, revenue grew 15% YoY to INR341.5 crores, with PAT increasing 21.1% to INR27.8 crores. The formulation business rebounded strongly, growing 82% YoY, while API exports rose 28.5% YoY. The company secured NCLT approval for Genrx Pharmaceuticals, enhancing formulation capabilities, and received DCGI approval for Cenobamate API tablets. Strategic initiatives include expanding manufacturing capacity, including a peptide plant with 250 kg annual capacity, and an oncology API plant to commence in Q2 FY28. Management guided toward revenue of INR900-1,000 crores by FY29 with EBITDA margins of 18-21%. The company also emphasized R&D investments, with a dedicated team of over 80 professionals, and plans to increase R&D spending to 2.5-3% of revenue. The balance sheet showed a net worth of INR557 crores as of September 2026, with a debt-to-equity ratio of 0.5x. Management highlighted challenges including raw material inflation and inventory management due to regional crises, but expressed confidence in maintaining EBITDA margins through product mix optimization. The company is expanding regulatory filings globally, with 110 DMF submissions, and aims to strengthen its leadership structure with experienced professionals.

The document emphasizes strong revenue and profit growth, strategic expansions, and positive regulatory developments, indicating a positive tone.