Bafna Pharmaceuticals Limited has submitted to the Exchange, the Audited financial results for the Quarter and Year ended March 31, 2026.
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Bafna Pharmaceuticals reported FY26 total income of Rs 1,553.74 lakhs, up 6.7% from Rs 1,455.99 lakhs in FY25. Revenue from operations grew modestly by 3.3% to Rs 15,061.74 lakhs. However, profit after tax surged over 6x to Rs 1,099.98 lakhs from Rs 153.55 lakhs in the prior year, aided by exceptional items of Rs 178.87 lakhs (inventory and intangible asset derecognition). Basic EPS improved significantly to Rs 4.60 from Rs 1.76. The auditors issued an unmodified opinion with an emphasis of matter on pending GST demands totaling Rs 566.56 lakhs (Rs 235.47 lakhs demand + Rs 331.09 lakhs refund recovery), though the company has filed appeals. Operating cash flow declined to Rs 1,537.08 lakhs from Rs 2,213.59 lakhs. Total borrowings increased to Rs 3,743.33 lakhs from Rs 2,819.86 lakhs.
Strong profit growth and clean audit opinion are positives, but the sharp drop in operating cash flow and rising debt levels warrant monitoring. The GST disputes, while not qualified by auditors, represent contingent liabilities that investors should track.