BETA DRUGS LIMITED

Manufactures and sells pharmaceutical products across four verticals: branded oncology formulations sold to hospitals and oncologists in India, contract development and manufacturing (CDMO) for third-party pharma companies, exports of formulations to international markets mainly via government tenders, and a dermatology/cosmetology business. The branded oncology portfolio spans 135+ products and grew 20% to INR 123 crore in FY26; CDMO generated INR 149 crore despite a Platin supply disruption; exports were INR 71 crore, down 11% on delayed tenders worth INR 20-25 crore; and the dermatology segment grew 35% to INR 16.58 crore and turned EBITDA-positive. The company also runs an API facility that cleared the PIC/S regulatory audit and is commercialising an intermediate plant. In April 2026, it acquired a 66.09% stake in Nivian Lifesciences for INR 69.4 crore, adding an IVF/fertility business with INR 45-46 crore FY26 revenue at 18-19% EBITDA margins. Raw materials are the largest input cost at 45.2% of revenue, followed by employee costs at 17.7% and other operating expenses at 18.2%. Management targets INR 900 crore revenue by FY30 under Vision 2030, with a planned mix shift to 51% branded, 30% exports and 13% CDMO.