Bajaj Healthcare Ltd (Pharma - Formulators) — fundamental analysis, earnings data, and key metrics. PE: 20.7. ROE: 10.7%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q2 FY26 earnings • Updated Apr 18, 2026
What: Peptide molecules under development: 6 molecules
“total, six peptide molecules are currently under development. One of the key products targeted for commercial launch is GLP-1 (Semaglutide).”
What: Export Revenue Growth: 66.9%
Impact: ₹48.7 Cr revenue
“This improvement in margins and profitability was driven by strong growth in exports (up 67% year-on-year) and formulations during the quarter.”
What: Clinical Trial Approvals: 2 Phase III approvals
“Received SEC-CDSCO recommendation to initiate Phase III clinical trials for Suvorexant Tablets... Secured DCGI approval to conduct phase III clinical trials for Cenobamate Tablets.”
What: R&D Facility Expansion: 10,000 sq. ft.
“We are expanding our R&D infrastructure with a new state-of-the-art facility spread across over 10,000 sq. ft. in Savli.”
What: Gross Margin Expansion: 462 bps
Impact: 50.8% Gross Margin
“Sequentially, gross margin expanded by 462 basis points to 50.8%... we continue to pursue opportunities in high-margin products to support long-term margin stability.”
What: PAT from Continuing Operations growth of 49.2% YoY
“resulting in profit from continuing operations growing by a strong 49% year-on-year and reaffirming our focus on sustainable earnings growth.”
Earnings deceleration risks from management commentary
Trigger: Global geopolitical environment creating uncertainty for international trade.
Management view: Focusing on resilience and strategic execution to mitigate external pressures.
Monitor: regulatory
Trigger: Market dynamics in the domestic API market impacting realizations.
Management view: Pursuing opportunities in high-margin products to support margin stability.
Monitor: commodity
Key quotes from recent conference calls
“One of the key products targeted for commercial launch is GLP-1 (Semaglutide), a globally significant peptide molecule widely used as an anti-diabetic medication. [Initiative: Peptide Synthesis Entry]”
“Clear roadmap to expand the oncology portfolio nationwide... The Oncology API plant is expected to be ready by 2027. [Initiative: Bajaj Oncocare Expansion]”
“performance underscores the resilience of our operations and the strength of our strategic execution, despite ongoing tariff tensions and global uncertainty. [Risk (regulatory): MEDIUM]”
“While pricing pressure persists in the domestic API segment, we continue to pursue opportunities in high-margin products to support long-term margin stability. [Risk (commodity): MEDIUM]”
Headline numbers from the latest earnings call
Revenue
₹147.9 Cr
Why: Revenue growth was driven by strong performance in exports which grew 67% year-on-year during the quarter.
The company achieved double-digit growth despite pricing pressures in the domestic API segment.
EBITDA
₹28.6 Cr
Why: EBITDA margin improved sequentially by 217 basis points to 19.1% due to gross margin expansion.
Margin expansion was a key driver of profitability during the quarter.
PAT
₹12.4 Cr
Why: Profit from continuing operations grew significantly due to improved margins and export growth.
The PAT figure refers specifically to profit from continuing operations.
Other Highlights
• Export revenue grew 66.9% YoY to ₹48.7 Cr in Q2 FY26.
• Gross margin expanded sequentially by 462 basis points to 50.8%.
• Debt to Equity ratio stands at 0.45x as of September 2025.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Export Revenue % of Total
33%
Why: Driven by 66.9% YoY growth in export sales to ₹48.7 Cr.
API Domestic Revenue
₹76.28 Cr
Why: Persistent pricing pressure in the domestic API segment.
Formulations Revenue
₹22.91 Cr
Total DMFs Filed
60
Why: Ongoing regulatory filings to strengthen global presence.
Cumulative CEP Filings
10
Why: Filed two new CEPs during the quarter to strengthen position in EU/UK markets.
R&D Team Size
50+
Manufacturing Facilities
20
Debt to Equity
0.45
API Monthly Capacity
730 MT
FDF Monthly Capacity
100 Mn pieces
Forward-looking targets from management
Peptide manufacturing plant capacity
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Bajaj Healthcare Ltd's latest quarterly results (Dec 2025) show
Bajaj Healthcare Ltd's current PE ratio is 20.7x.
Bajaj Healthcare Ltd's price-to-book ratio is 2.1x.
Bajaj Healthcare Ltd's fundamental strength based on key financial ratios
Bajaj Healthcare Ltd has a debt-to-equity ratio of N/A.
Bajaj Healthcare Ltd's return ratios over recent years
Bajaj Healthcare Ltd's operating cash flow is positive (FY2025).
Bajaj Healthcare Ltd's current dividend yield is 0.31%.
Bajaj Healthcare Ltd's shareholding pattern (Mar 2026)
Bajaj Healthcare Ltd's promoter holding has decreased recently.
Bajaj Healthcare Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Bajaj Healthcare Ltd has 6 key growth catalysts identified from recent earnings analysis
Bajaj Healthcare Ltd has 2 key risks worth monitoring
In Q2 FY26, Bajaj Healthcare Ltd's management highlighted
Bajaj Healthcare Ltd's management has provided the following forward guidance
Bajaj Healthcare Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Bajaj Healthcare Ltd may be worth studying
Bajaj Healthcare Ltd investment thesis summary:
Bajaj Healthcare Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
