Bajaj Healthcare Limited (BAJAJHCARE)
₹341.10 +0.68% last close, 16 Oct
Q2 FY27 results
📅 Next results: 17 Oct 2026 (board meeting)Bajaj Healthcare Limited's board meets on 17 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Bajaj Healthcare's revenue was ₹166 Cr (+11.4% year on year, +8.5% on the previous quarter), and net profit ₹14.0 Cr (+16.7% year on year); the operating margin was 17.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹166 | +11.4% | +8.5% |
| Operating profit | ₹29.0 | +16.0% | +27.9% |
| Net profit | ₹14.0 | +16.7% | from loss |
| EPS (₹) | 4.07 | +8.5% | from loss |
| Operating margin | 17.5% | — | — |
BAJAJHCARE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.67% of the BAJAJHCARE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 49.82%. That is close to its usual level.
Delivery in the last 5 sessions: 49.1% · 45.0% · 57.6% · 51.8% · 50.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Bajaj Healthcare Limited has secured approval from the Hon'ble NCLT, Mumbai Bench, vide an order dated October 13, 2026, to acquire Genrx Pharmaceuticals Private Limited (in Liquidation) on a going concern basis. Following the implementation of terms, Genrx Pharmaceuticals will become a wholly owned subsidiary of the company. The acquisition follows earlier company disclosures from April 2025 regarding the resolution process. Key financial terms, including total acquisition cost and capacity additions, were not disclosed in the filing.
- NCLT Mumbai Bench approved the acquisition on a going concern basis via order dated October 13, 2026
- Genrx Pharmaceuticals Private Limited (in Liquidation) will become a Wholly Owned Subsidiary
- Follows earlier corporate intimations dated April 5, 2025 and April 7, 2025
- Acquisition value and financial consideration were not disclosed in the filing
Bajaj Healthcare Limited has executed a Deed of Assignment on October 12, 2026, to sell its non-operational undertaking located at Dahej Industrial Area, GIDC, Gujarat. The sale consideration is approximately ₹14.67 crore, representing about 3.2% of TTM revenue (₹462 crore) and 2.8% of net worth (₹533 crore). The buyers are Spa Vet Private Limited and Indosol Pure Technologies Private Limited, with no related-party involvement. The undertaking generated nil turnover in the last financial year.
- Sale consideration of approximately ₹14.67 crore for the Dahej undertaking
- Undertaking contributed Nil revenue and turnover during the last financial year
- Agreement executed on October 12, 2026, following prior shareholder approval from August 5, 2023
- Buyers Spa Vet Pvt Ltd and Indosol Pure Technologies Pvt Ltd have no promoter or related-party connections
Bajaj Healthcare Limited announced the voting results and scrutinizer report for its 33rd Annual General Meeting held on September 21, 2026. Shareholders approved all 6 resolutions with requisite majority, including the declaration of a final dividend of Rs 1.50 per equity share for FY26. Total votes polled stood at 2,03,90,550 shares, representing 60.57% of outstanding shares. Public institutions notably voted 86.27% against the reappointment of director Pakshal Anil Jain, but the ordinary resolution passed with 97.21% overall approval.
- Final dividend of Rs 1.50 per equity share approved for FY26
- Overall voter turnout of 60.5687% across 20,390,550 polled shares
- All 6 AGM resolutions passed with requisite majority
- Institutional dissent of 86.27% (568,918 votes against) on director Pakshal Anil Jain's reappointment, though total resolution passed with 97.21% approval
Bajaj Healthcare Limited has fixed Monday, September 14, 2026, as the record date for determining shareholder entitlement to a final dividend. The proposed dividend is 30%, or ₹1.50 per equity share, for FY 2025-26. Payment remains subject to approval by shareholders at the upcoming Annual General Meeting.
- Fixed September 14, 2026, as the record date for final dividend eligibility.
- Proposed final dividend of ₹1.50 per equity share (30% on face value).
- Applicable for the financial year 2025-26, subject to shareholder approval at the AGM.
Bajaj Healthcare Limited has issued physical letters containing the web-link to the FY26 Annual Report to shareholders without registered email addresses. The company confirmed that its 33rd Annual General Meeting (AGM) will be conducted virtually on Monday, September 21, 2026, at 3:00 PM IST. The cut-off date for identifying eligible shareholders for dispatch was August 21, 2026. The letter also serves as a regulatory reminder for physical security holders to complete KYC updates per SEBI norms.
- 33rd Annual General Meeting scheduled for Monday, 21st September 2026 at 03:00 P.M. IST via VC/OAVM
- Letters sent to physical/unregistered email shareholders based on cut-off date of 21st August 2026
- Provides direct web-link to the Annual Report for FY26 pursuant to SEBI LODR Regulations
- Mandates KYC updates and dematerialisation reminder for physical holders under SEBI Master Circular
Bajaj Healthcare Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 as part of its Annual Report compliance. The report highlights that international exports contributed approximately 31% of total turnover across 62+ countries. The company operates across 6 national sites and 1 office, with a total workforce of 884 employees and 135 permanent workers. The document is a standard statutory disclosure and contains no new financial or material operational developments.
- Exports contributed approximately 31% of total turnover across 62+ countries in FY 2025-26
- Company operates 6 operational sites and 1 office across India
- Total headcount comprises 884 employees (814 permanent) and 135 permanent workers
- Permanent employee turnover rate rose to 33.39% in FY 2025-26 from 3.9% in FY 2024-25
- Reported zero data breaches and resolved all 2 shareholder and 2 employee grievances filed during the year
Bajaj Healthcare Limited has scheduled its 33rd Annual General Meeting (AGM) for Monday, September 21, 2026, to be conducted via video conferencing. The cut-off date for e-voting eligibility is set for September 14, 2026, with remote e-voting running from September 17 to September 20, 2026. Alongside the notice, the company dispatched its FY 2025-26 Annual Report, highlighting an operational network of 20 manufacturing facilities across Gujarat and Maharashtra, an API capacity of 824 MT per month, and formulation capacity of 100 Mn pieces per month.
- 33rd AGM scheduled for Monday, September 21, 2026 at 3:00 PM IST via Video Conferencing.
- Cut-off date for remote e-voting eligibility is September 14, 2026.
- Remote e-voting window opens September 17, 2026 (9:00 AM IST) and closes September 20, 2026 (5:00 PM IST).
- Annual report highlights operational footprint of 20 manufacturing facilities, 824 MT/month API capacity, and 100 Mn pieces/month formulation capacity across 60+ countries.
Bajaj Healthcare Limited has approved the allotment of 2,500 equity shares of face value ₹5 each pursuant to the exercise of vested stock options under the Bajaj Healthcare Limited Employee Stock Option Scheme 2024. The options were exercised at an exercise price of ₹5 per share. Following this allotment, the company's paid-up equity share capital increased marginally from ₹16,83,13,305 (3,36,62,661 shares) to ₹16,83,25,805 (3,36,65,161 shares). The dilution from this allotment is negligible.
- Allotment of 2,500 equity shares of face value ₹5 each under ESOP Scheme 2024
- Exercise price fixed at face value of ₹5 per stock option
- Paid-up share capital increased from ₹16,83,13,305 to ₹16,83,25,805
- Total outstanding equity shares expanded to 3,36,65,161 shares
Bajaj Healthcare Limited has approved the allotment of 2,500 equity shares of face value ₹5 each pursuant to the exercise of options under the Employee Stock Option Scheme 2024. The options were exercised at a price of ₹5 per share, realizing a total of ₹12,500. Following the allotment, the company's total paid-up equity share capital marginally increased from 3,36,62,661 shares (₹16.83 crore) to 3,36,65,161 shares (₹16.83 crore). The dilution is negligible at less than 0.01% of existing shares.
- Allotment of 2,500 equity shares of face value ₹5 each under ESOP Scheme 2024
- Exercise price fixed at ₹5 per stock option, realizing ₹12,500 in total proceeds
- Paid-up share capital expands to ₹16,83,25,805 divided into 3,36,65,161 equity shares
- Diluted EPS reported at ₹4.06 per share for the quarter ended June 30, 2026
Bajaj Healthcare has received final approval from the Drug Controller General of India (DCGI) to manufacture and market Cenobamate API and Tablets. The company is the first to launch this next-generation antiseizure medication in India, targeting partial-onset seizures in adults. The approval covers six tablet strengths ranging from 12.5 mg to 200 mg. This move strengthens the company's Central Nervous System (CNS) portfolio, which is a key part of its strategy to move into higher-value pharmaceutical products.
- First company to launch Cenobamate in the Indian market
- Approval granted for 6 different tablet strengths: 12.5mg, 25mg, 50mg, 100mg, 150mg, and 200mg
- Follows the Subject Expert Committee (SEC) recommendation received on June 26, 2026
- Targets the CNS segment, specifically for adults with inadequately controlled epilepsy
- Integrated approach involving both API and formulation manufacturing
India Ratings (Ind-Ra) has upgraded Bajaj Healthcare's long-term rating to 'IND A' from 'IND A-' and short-term rating to 'IND A1' from 'IND A2+'. The upgrade is driven by improved credit metrics, with net leverage falling to 2.1x in FY26 from 4.7x in FY24, and interest coverage rising to 4.7x. Revenue grew to ₹611 Cr in FY26 with EBITDA margins expanding to 17.2%. The company is pivoting towards regulated markets and CDMO services, which now account for 10% of total revenue.
- Long-term credit rating upgraded to 'IND A' with a Stable outlook
- Total rated bank loan facilities reduced to ₹282 Cr from ₹332.6 Cr
- Net leverage improved to 2.1x in FY26, down from 2.9x in FY25
- Planned ₹50 Cr capex for a new R&D center and a 250 kg/annum peptide API facility
- EBITDA margins improved to 17.2% in FY26, with management targeting 18-19% over the medium term
Bajaj Healthcare reported a steady Q1 FY27 with revenue growing 11.3% YoY to ₹165.6 Cr and PAT rising 14.1% to ₹13.9 Cr. The company is undergoing a structural shift toward high-value segments, including Peptides and Oncology, with a new 250 kg/annum peptide facility slated for Q4 FY27. Management has provided a clear growth guidance of 10-15% for FY27 and a long-term revenue target of ₹900-1,000 Cr within 2-3 years. Notably, the balance sheet has deleveraged significantly, with the Debt-to-Equity ratio falling to 0.45 from 1.19 in FY24.
- Q1 FY27 revenue increased 11.3% YoY to ₹165.6 Cr, driven by 27% growth in domestic API.
- Management set a long-term revenue target of ₹900-1,000 Cr, representing ~138% growth over TTM revenue of ₹420 Cr.
- Debt-to-Equity ratio improved to 0.45 from 1.19 in FY24, reflecting significant deleveraging.
- New 250 kg/annum peptide manufacturing facility targeted for commissioning by Q4 FY27.
- R&D spending as a percentage of sales scaled from 0.4% in 2024 to 2.2% in 2026.
Bajaj Healthcare has released the audio recording of its earnings call held on July 21, 2026, regarding the financial performance for the quarter ended June 30, 2026 (Q1FY27). This is a standard regulatory disclosure following the announcement of quarterly results. Investors can access the recording to hear management's commentary on the company's recovery trajectory, following an FY25 PAT of ‹39.50 Cr. The company currently operates with a TTM revenue of ‹420 Cr and a debt of ‹249 Cr.
- Earnings call conducted on July 21, 2026, to discuss Q1FY27 performance.
- Recording pertains to the financial period ended June 30, 2026.
- Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
- Management previously raised ‹204.97 Cr in FY25 to support growth and capital infusion.
Bajaj Healthcare Limited has approved the grant of 275 stock options to eligible employees under its 2024 ESOP Plan. Each option is convertible into one equity share at an exercise price of Rs 5, which matches the face value. The vesting period is set for a minimum of 1 year and a maximum of 4 years, with an exercise window of 5 years post-vesting. Given the company's current scale, this specific grant of 275 shares is financially immaterial.
- Grant of 275 stock options to eligible employees under the 2024 Plan
- Exercise price fixed at Rs 5 per share, equal to the face value
- Vesting period ranges from a minimum of 1 year to a maximum of 4 years
- Exercise period of 5 years from the date of vesting of respective options
Bajaj Healthcare reported a strong start to FY27 with revenue rising 11.3% YoY to ₹165.6 Cr, which represents approximately 39.4% of its TTM revenue in a single quarter. Growth was primarily driven by the domestic API segment, which surged 27.1% YoY, offsetting a 4.1% decline in exports caused by geopolitical issues in West Asia. Profitability improved as EBITDA margins expanded to 17.8% from 17.1% YoY, leading to a PAT of ₹13.7 Cr. A key regulatory milestone was achieved as the company became the first in India to receive SEC recommendation for Cenobamate Tablets.
- Revenue from operations increased 11.3% YoY to ₹165.6 Crore for Q1 FY27.
- Domestic API sales grew significantly by 27.1% YoY to ₹92.3 Crore.
- Gross margins expanded to 48.3% from 46.2% YoY due to an improved product mix.
- Secured SEC recommendation for Cenobamate Tablets, a first for an Indian manufacturer.
- Cumulative CEP filings reached 12, with 8 already approved for regulated EU and UK markets.
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. However, the company achieved a significant financial turnaround with a profit of INR 39.50 Cr in FY25 compared to a loss of INR 83.80 Cr in FY24.
Profitability Margins
Net profit for FY25 stood at INR 39.50 Cr, representing a recovery from a loss of INR 83.80 Cr in FY24. Profit for the period ending September 2025 was INR 22.94 Cr. Discontinued operations significantly impacted past margins, with a loss of INR 69.46 Cr in FY24 narrowing to a loss of INR 3.43 Cr in FY25.
EBITDA Margin
Not disclosed in available documents. However, Profit after Taxes & Exceptional items improved from a loss of INR 14.34 Cr in FY24 to a profit of INR 42.93 Cr in FY25.
Capital Expenditure
Net Fixed Assets & CWIP stood at INR 241.90 Cr as of March 31, 2025, compared to INR 259.37 Cr in FY24. The company raised INR 204.97 Cr through a preferential issue of equity shares and convertible warrants in September 2024 to fund business requirements.
Credit Rating & Borrowing
The company holds an IND A2+ rating for non-fund-based working capital limits. Total borrowings were reduced by 34.55%, falling from INR 362.60 Cr in FY24 to INR 237.32 Cr in FY25. Borrowings further decreased to INR 227.87 Cr by September 2025.
Operational Drivers
Raw Materials
Not disclosed in available documents. The company operates in the pharmaceutical sector, implying usage of Active Pharmaceutical Ingredients (APIs) and chemical intermediates.
Capacity Expansion
Not disclosed in available documents. However, the appointment of Shreekumar Nair as COO (with 40+ years of experience in process optimization at Alembic and Glenmark) suggests a focus on operational management and supply chain transformation.
Manufacturing Efficiency
The company focuses on process optimization and operational management, led by the Senior Management Team including the newly appointed COO, Shreekumar Nair.
Strategic Growth
Growth Strategy
Growth is targeted through a combination of capital infusion (INR 204.97 Cr raised in FY25), leadership strengthening (appointment of a new COO and CFO with Glenmark/Alembic backgrounds), and a focus on core operations by reducing losses from discontinued operations (which fell from INR 69.46 Cr to INR 3.43 Cr YoY).
Products & Services
Pharmaceutical products including Active Pharmaceutical Ingredients (APIs) and formulations.
Brand Portfolio
Bajaj Healthcare.
Market Expansion
The company is actively engaging with institutional investors and analysts (meetings scheduled for December 8-9, 2025) to support its market expansion and visibility.
External Factors
Industry Trends
The company is positioning itself within the pharmaceutical industry by hiring veterans from major players like Glenmark and Alembic, indicating a shift toward higher operational standards and potentially more complex product portfolios.
Competitive Landscape
Competes in the pharmaceutical API and formulation space; specific competitor names were not listed in the documents.
Competitive Moat
The company's moat is built on its integrated manufacturing capabilities and a leadership team with deep industry expertise (CFO and COO have 14+ and 40+ years of experience respectively).
Geopolitical Risks
The Risk Management Committee monitors external risks, though specific geopolitical exposures are not detailed.
Regulatory & Governance
Industry Regulations
Compliant with SEBI (LODR) Regulations 2015 and the Companies Act 2013. The company maintains a Code of Conduct for Insider Trading and a Vigil Mechanism.
Environmental Compliance
The Risk Management Committee is responsible for sustainability and ESG-related risks.
Taxation Policy Impact
The company reported a tax credit/adjustment of INR 0.54 Cr for FY23 and a tax expense of INR 17.72 Cr for FY24.
Legal Contingencies
No instances of non-compliance or penalties were imposed by Stock Exchanges, SEBI, or any statutory authority regarding capital markets in the last three years.
Risk Analysis
Key Uncertainties
The primary uncertainty involves the final resolution of discontinued operations, which had a negative impact of INR 3.43 Cr in FY25. Cyber security and information risks are also monitored by the Risk Management Committee.
Technology Obsolescence Risk
The company addresses technology risks through its Risk Management Committee and the appointment of a Chief Technical Officer (Amit Rajan).
Credit & Counterparty Risk
The company maintains internal controls for financial reporting to manage credit and financial risks; no significant fraud or internal control failures were reported in FY25.
