Blue Jet Healthcare Q2 Revenue Hits Record ₹376 Crores

Event Type: Q2 and H1 FY27 Earnings Conference Call with analysts and investors.
Date and Time: Held on Thursday, November 5, 2026 (specific time not mentioned in transcript).
Purpose: Discussion of financial results for quarter and half year ended September 30, 2026 and strategic business updates.
Management Participants: Mr. Shiven Arora (Managing Director), Mr. V.K. Singh (Chief Operating Officer), Mr. Ganesh Karuppannan (Chief Financial Officer), Mr. Sanjay Sinha (Deputy Chief Financial Officer).
Availability of Materials: The investor presentation and financial results were noted as available on the company website and stock exchanges. The audio and transcript of the conference call were stated to be made available on the company website and exchanges.
UPSI Statement: The moderator noted that forward-looking statements must be reviewed in conjunction with the risks that the company faces, but no explicit statement regarding unpublished price sensitive information (UPSI) was made in the provided transcript.

Financial Highlights Discussed:

Q2 FY27 Performance: Revenue from operations of approximately ₹376 crores (highest-ever quarterly), EBITDA of approximately ₹119 crores, representing sequential growth of 28% in revenue and 21% in EBITDA. Gross margin for Q2 at 49% (lower by 4% sequentially). Profit after tax for the quarter at ₹103 crores (27% of total income).
H1 FY27 Performance: Revenue of ₹669 crores (increase of 29% over H1 FY26). Gross margin for H1 at 51% (reduction of 3% over H1 FY26). EBITDA for H1 at ₹217 crores (32% of operating income). Profit after tax for H1 at ₹181 crores (27% of total income).
Business Segment Growth (H1 YoY): Driven 47% by contrast media, 19% by Pharma Intermediates (PI) API, and a degrowth of 2% by artificial sweetener.
Business Segment Growth (Q2 Sequential): Driven 25% by contrast media, 52% by PI API, and a degrowth of 30% by artificial sweetener.

Strategic and Operational Updates:

Hyderabad R&D Center: Now operational with approximately 50 scientists onboarded. Aims to support new chemistry platforms (flow synthesis, peptides, GLP intermediates, biocatalysis, high-potency products, solid-phase chemistry).
Mahad Unit 3 (Contrast Media): Capex incurred ~₹250 crores to date. On track to go on stream in H2 FY27. Aims for backward integration of a strategically critical KSM.
Vizag Expansion (Units 5 & 6): Pre-construction activities underway. Phase I envisages capex of ~₹1,000 crores for capacities in contrast media, pharmaceutical intermediates, peptide fragments, high-intensity sweeteners, and multipurpose blocks.
Development Pipeline: Successful delivery and validation of a new contrast media intermediate and a peptide fragment for innovator companies (both in clinical phases).
Margin Pressure & Outlook: Raw material cost inflation (reagents, solvents, catalysts) due to West Asia disruption impacted gross margin. Price increase discussions with customers are underway, with select increases expected from Q3 FY27.
QIP Proceeds: The recently completed Qualified Institutional Placement (QIP) raise of ₹800 crores is intended for phased deployment over three years towards capital expenditure, working capital, and general corporate purposes.
Sustainability: Renewable energy contribution stands at ~80% of overall consumption. Company achieved a silver rating from EcoVadis.

The document provided is the edited transcript of the earnings conference call.
The transcript was submitted to the stock exchanges pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.
The transcript is also available on the company's website at: https://bluejethealthcare.com/investor-presentation/
The document was noted as being edited for readability.