• Event Type: Q2 & H1 FY27 Earnings Conference Call held on Monday, October 19, 2026.
  • Management Participants: Mr. Anil Jain (Managing Director) and Mr. Rohan Parekh (Chief Financial Officer). The call was moderated by Ms. Prachi Ambre from MUFG Investor Relations.
  • Financial Period Discussed: Quarter and half year ended September 30, 2026 (Q2 & H1 FY27).
  • Key Financial Highlights:
  • Q2 FY27 Revenue from operations: ₹175.9 crores, up 18.9% YoY
  • Q2 FY27 Profit After Tax: ₹14.1 crores, up 26.9% YoY
  • H1 FY27 Revenue: ₹341.5 crores, up 15.1% YoY
  • H1 FY27 PAT: ₹27.8 crores, up 21.1% YoY
  • EBITDA margin improved sequentially from 17.8% to 18.2%
  • Debt-to-equity ratio at 0.5x
  • India Ratings upgraded long-term rating from A- Stable to IND A Stable
  • Business Segment Performance:
  • Formulations business grew 82% YoY in Q2 to ₹41.7 crores
  • API exports grew 28.5% YoY in Q2 to ₹62.6 crores
  • Domestic API revenue moderated to ₹71.6 crores in Q2 but grew 10.1% YoY for H1
  • API export and formulation combined crossed ₹100 crores in quarterly revenue
  • Strategic Developments:
  • Received NCLT approval for acquisition of Genrx Pharmaceuticals Private Limited
  • First company in India to receive DCGI approval for Cenobamate API tablets in six strengths
  • Launched Cenobamate tablets commercially in September through eight marketing partners
  • Constructing state-of-the-art commercial peptide manufacturing plant (250 kg per annum capacity) scheduled for completion by March 31, 2027
  • Oncology API plant commissioning expected in Q2 FY28
  • Expanded R&D facility with over 80 professionals, spending 2.5-3% on R&D
  • Establishing dedicated formulation plant at Nashik expected operational by Q1 FY28
  • Established formulation export vertical with dossiers submitted in Africa, Myanmar, Philippines, Vietnam, and Latin America
  • Regulatory Progress:
  • Brazil: Progressing with ANVISA GMP certification, identified 17 products for CBPF submission
  • Europe: Filed 12 CEPs (8 approved, 4 under review)
  • South Korea: Secured KDMF approval for two more products (total 17 registrations)
  • Egypt: Three products registered under Whitelist process with 10 more planned
  • Management Appointments:
  • Mr. Shreekumar Nair (Chief Operating Officer, 40+ years experience)
  • Mr. A. G. Prasad (Institutional Sales and Marketing, 35+ years experience)
  • Mr. E. J. Babu (Global API Business, 33+ years experience)
  • Mr. Byju (R&D Head), Mr. Sujoy Banerjee (ROW branded generic formulation), Mr. Rahul Sanap (Oncology Sales and Business Head)
  • Forward Guidance:
  • Target revenue of ₹900-1,000 crores by FY29
  • Target EBITDA margin of 18-21%
  • Expected FY27 capex: ₹65-80 crores
  • Annual capex guidance: ₹50-60 crores for growth towards ₹1,000 crore revenue target
  • Expected operating cash flow: >₹30 crores for FY27
  • Compliance Statement: The document includes standard forward-looking statement disclaimer indicating that the call may contain forward-looking statements based on expectations, beliefs and opinions, not guarantees of future performance.

Additional Notes Section

  • The transcript is an enclosure to the regulatory filing and is also available on the company website at https://www.bajajhealth.com/stock-exchange-intimation-2026-27/
  • The document contains detailed financial data from the earnings call, including segment-wise performance, margin analysis, and balance sheet information.
  • Note included that certain numerical figures and percentages stated verbally during the call have been corrected in the transcript to align with published financial results.