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Bajaj Healthcare Q2 FY27 results: net profit up 26.8% to ₹14.09 crore, revenue up 18.9%
Bajaj Healthcare Limited reported standalone revenue of ₹175.90 crore in Q2 FY27, up 18.9% from Q2 FY26, while net profit rose to ₹14.09 crore from ₹11.11 crore. EBITDA was ₹31.21 crore and EBITDA margin was 17.7%, compared with 18.2% a year earlier.
Key points
- Revenue rose to ₹175.90 crore in Q2 FY27 from ₹147.91 crore in Q2 FY26, an increase of 18.9%.
- EBITDA increased to ₹31.21 crore from ₹26.95 crore, while EBITDA margin declined 0.5 percentage points to 17.7%.
- Net profit was ₹14.09 crore, up from ₹11.11 crore, and basic EPS rose to ₹4.19 from ₹3.53.
- For H1 FY27, revenue was ₹341.53 crore, up 15.1%, and profit after tax was ₹27.79 crore, up 21.1%.
- The stock fell 2.0% on the reaction day and 6.6% by the next day’s close from its pre-results close.
How did Bajaj Healthcare perform in Q2 FY27?
Bajaj Healthcare’s standalone revenue was ₹175.90 crore in Q2 FY27, up ₹27.99 crore or 18.9% from ₹147.91 crore in Q2 FY26. Against Q1 FY27, revenue increased by ₹10.27 crore or 6.2% from ₹165.63 crore. Total income was ₹176.79 crore, compared with ₹149.57 crore a year earlier and ₹166.44 crore in the previous quarter.
EBITDA was ₹31.21 crore in Q2 FY27, up ₹4.26 crore or 15.8% from ₹26.95 crore in Q2 FY26 and ₹2.46 crore or 8.6% from ₹28.75 crore in Q1 FY27. EBITDA margin was 17.7%, down 0.5 percentage points year on year but up 0.3 percentage points from the previous quarter.
Profit before tax rose to ₹18.48 crore from ₹15.96 crore a year earlier and ₹16.46 crore in Q1 FY27. Net profit was ₹14.09 crore, compared with ₹11.11 crore in Q2 FY26 and ₹13.70 crore in Q1 FY27, while basic EPS was ₹4.19 against ₹3.53 and ₹4.07, respectively. The filing reported unaudited standalone results; no consolidated figures were given.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 175.90 | 165.63 | 147.91 | +18.9% | +6.2% |
| Other income | 0.89 | 0.81 | 1.65 | −46.1% | +9.9% |
| Total expenses | 158.32 | 149.98 | 133.61 | +18.5% | +5.6% |
| EBITDA | 31.21 | 28.75 | 26.95 | +15.8% | +8.6% |
| EBITDA margin | 17.7% | 17.4% | 18.2% | −0.5 pp | +0.3 pp |
| Profit before tax | 18.48 | 16.46 | 15.96 | +15.8% | +12.3% |
| Tax | 4.10 | 2.57 | 3.51 | +16.8% | +59.5% |
| Net profit | 14.09 | 13.70 | 11.11 | +26.8% | +2.8% |
| EPS (₹) | 4.19 | 4.07 | 3.53 | +18.7% | +2.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Bajaj Healthcare's costs and profit?
Total expenses increased by ₹24.71 crore or 18.5% to ₹158.32 crore in Q2 FY27 from ₹133.61 crore in Q2 FY26. Cost of materials was the largest increase, rising ₹23.60 crore or 31.5% to ₹98.41 crore. Employee cost rose ₹2.60 crore or 15.7% to ₹19.11 crore, and other expenses increased ₹3.35 crore or 10.9% to ₹34.21 crore.
Finance costs rose by ₹0.42 crore or 7.6% to ₹5.98 crore, while depreciation increased by ₹0.57 crore or 8.1% to ₹7.65 crore. Other income fell by ₹0.76 crore or 46.1% to ₹0.89 crore from ₹1.65 crore. Tax expense was ₹4.10 crore, up ₹0.59 crore or 16.8% from ₹3.51 crore.
There was no exceptional item in Q2 FY27. Profit before exceptional items and tax was ₹18.48 crore, compared with ₹15.96 crore in Q2 FY26. Against Q1 FY27, finance costs fell by ₹0.11 crore, while tax expense rose by ₹1.53 crore; the filing did not state reasons for the changes in these cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 98.41 | 74.81 | +23.60 | +31.5% |
| Employee cost | 19.11 | 16.51 | +2.60 | +15.7% |
| Finance costs | 5.98 | 5.56 | +0.42 | +7.6% |
| Depreciation | 7.65 | 7.08 | +0.57 | +8.1% |
| Other expenses | 34.21 | 30.86 | +3.35 | +10.9% |
| Total expenses | 158.32 | 133.61 | +24.71 | +18.5% |
| Other income | 0.89 | 1.65 | −0.76 | −46.1% |
| Tax | 4.10 | 3.51 | +0.59 | +16.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Bajaj Healthcare reported revenue of ₹341.53 crore, up ₹44.78 crore or 15.1% from ₹296.75 crore in H1 FY26. Total income increased by ₹43.96 crore or 14.7% to ₹343.24 crore from ₹299.28 crore.
Profit before tax rose by ₹4.44 crore or 14.6% to ₹34.93 crore, while profit after tax increased by ₹4.85 crore or 21.1% to ₹27.79 crore from ₹22.94 crore. Basic EPS was ₹8.26, up ₹0.99 or 13.6% from ₹7.27. The board approved the unaudited standalone results for the half year ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 341.53 | 296.75 | +15.1% |
| Profit before tax | 34.93 | 30.49 | +14.6% |
| Net profit | 27.79 | 22.94 | +21.1% |
| EPS (₹) | 8.26 | 7.27 | +13.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹981.15 crore, up from ₹923.22 crore at 31 March 2026. Total equity was ₹557.16 crore against ₹533.0 crore, while borrowings rose to ₹267.52 crore from ₹233.46 crore. Cash declined to ₹13.47 crore from ₹37.24 crore.
Inventories increased to ₹236.53 crore from ₹216.01 crore, and trade receivables rose to ₹251.63 crore from ₹233.85 crore. Trade payables fell to ₹111.47 crore from ₹115.28 crore at the previous balance sheet date.
For H1 FY27, net cash from operating activities was ₹15.69 crore, compared with ₹50.19 crore in H1 FY26. Investing cash flow was negative ₹53.23 crore against negative ₹19.8 crore, financing cash flow was positive ₹13.78 crore against negative ₹21.01 crore, and capital expenditure was ₹60.96 crore versus ₹10.98 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 981.15 | 923.22 |
| Total equity | 557.16 | 533 |
| Borrowings | 267.52 | 233.46 |
| Cash and equivalents | 13.47 | 37.24 |
| Inventories | 236.53 | 216.01 |
| Trade receivables | 251.63 | 233.85 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 15.69 | 50.19 |
| Cash from investing | −53.23 | −19.80 |
| Cash from financing | 13.78 | −21.01 |
| Capital expenditure | 60.96 | 10.98 |
Source: Company's results filing (XBRL).
How has Bajaj Healthcare done over the last 8 quarters?
Revenue reached its highest level in the reported series in Q2 FY27 at ₹175.90 crore, compared with the lowest at ₹122.79 crore in Q3 FY25. Revenue rose from ₹147.91 crore in Q2 FY26 to ₹175.90 crore in Q2 FY27, with year-on-year revenue growth recorded in each of the last two quarters.
Profit after tax peaked at ₹15.67 crore in Q3 FY26 and bottomed at a net loss of ₹22.85 crore in Q4 FY26. It recovered to ₹13.70 crore in Q1 FY27 and ₹14.09 crore in Q2 FY27, while profit rose year on year in each of the last two quarters.
EBITDA margin peaked at 19.0% in Q3 FY26 and fell to 7.6% in Q4 FY25. It then moved from 18.2% in Q2 FY26 to 17.4% in Q1 FY27 and 17.7% in Q2 FY27, indicating recovery from the earlier low but remaining below the Q3 FY26 peak.
What did Bajaj Healthcare's management say?
Managing Director Anil Jain said the company was constructing a commercial peptide plant with installed capacity of 250 kg per annum, scheduled for completion by 31 March 2027. Management targeted INR70-100 crores of first-year revenue from peptide capacity and expected Genrx to reach INR200-250 crores of revenue over 2-3 years.
The CFO, Rohan Parekh, said, “We are pretty confident of maintaining this gross margin and EBITDA margins.” Management identified West Asia disruption and rising freight, domestic API price and demand pressure, regulatory approvals, customer adoption, and the time needed to commercialise international DMFs as risks. No analyst questions were included in the supplied material.
How did Bajaj Healthcare shares react?
The filing was released after market hours, and Bajaj Healthcare’s shares fell 1.0% after 5 minutes, 5.2% after 15 minutes and 2.8% after 30 minutes. On the reaction day, the stock closed 2.0% lower from its pre-results close, against a 1.6% fall for the median Pharmaceuticals stock and a 1.7% fall for the Nifty Microcap 250.
By the next day’s close, the stock was down 6.6% from its pre-results close. The Pharmaceuticals industry median was down 3.5%, while the Nifty Microcap 250 was down 4.2%. By the fifth session’s close, the stock was down 10.4%, versus a 2.3% fall for the industry median and a 5.5% fall for the Nifty Microcap 250.
The stock underperformed the industry median by 0.5 percentage points on the reaction day, 3.2 percentage points by the next day and 8.0 percentage points by the fifth session. Earlier results-day moves included declines of 5.8% on 20 July 2026, 10.5% on 8 May 2026 and 7.2% on 26 May 2025, and a rise of 10.0% on 11 February 2025.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | −1.0% | |
| 15 minutes | −5.2% | |
| 30 minutes | −2.8% | |
| Reaction day | −2.0% | −1.6% |
| Next day | −6.6% | −3.5% |
| 5 days | −10.4% | −2.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 20 July 2026 | −5.8% |
| 8 May 2026 | −10.5% |
| 16 January 2026 | −0.3% |
| 17 October 2025 | −2.1% |
| 28 July 2025 | −2.5% |
| 26 May 2025 | −7.2% |
| 11 February 2025 | +10.0% |
| 14 November 2024 | −2.0% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Among 60 other Pharmaceuticals companies that had filed for the quarter, the median revenue growth was 19.8%. Bajaj Healthcare’s revenue growth was below that median. Of the peer companies with comparable growth data, 29 grew more slowly than Bajaj Healthcare and 30 grew faster.
Profit increased for 38 of the 54 peer companies included in the profit comparison. The peer data was available as of 4 November 2026, while Bajaj Healthcare’s results were announced on 17 October 2026.
| Bajaj Healthcare revenue growth (YoY) | +18.9% |
|---|---|
| Median of 60 other Pharmaceuticals companies | +19.8% |
| Companies with slower revenue growth than Bajaj Healthcare | 29 of 60 |
| Companies with faster revenue growth than Bajaj Healthcare | 30 of 60 |
| Companies whose net profit rose | 38 of 54 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Bajaj Healthcare's revenue in Q2 FY27?
Revenue from operations was ₹175.90 crore, up 18.9% from ₹147.91 crore in Q2 FY26 (standalone).
Did Bajaj Healthcare make a profit in Q2 FY27?
Yes. Net profit was ₹14.09 crore, against a net profit of ₹11.11 crore in Q2 FY26.
What was Bajaj Healthcare's EPS in Q2 FY27?
Basic earnings per share were ₹4.19, against ₹3.53 in Q2 FY26.
How did Bajaj Healthcare shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.0% from the previous close; the median Pharmaceuticals stock moved −1.6%.
When did Bajaj Healthcare announce its Q2 FY27 results?
On 17 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration Of Financial Results (BSE, 9 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting (BSE, 17 October 2026) · PDF
- Results-Financial Results For September 30, 2026 (BSE, 17 October 2026) · PDF
- The earnings call (27 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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