Bajaj Healthcare Reports FY26 Annual Results: Revenue Rises to ₹61,103.14 Lakhs, Net Profit at ₹1,576.61 Lakhs

Bajaj Healthcare Limited reported its audited standalone financial results for the quarter and financial year ended March 31, 2026, as approved by its Board of Directors at a meeting held on May 08, 2026. The results were audited by Walker Chandiok & Co LLP, Chartered Accountants, with an unmodified opinion, and reviewed by the Audit Committee prior to board approval. The company operates in a single reportable segment — Pharmaceuticals — encompassing formulations and active pharmaceutical ingredients.

Financial Performance: FY26 vs FY25

Bajaj Healthcare's revenue from operations for the full year ended March 31, 2026 grew to ₹61,103.14 lakhs from ₹54,260.24 lakhs in the previous year. Total income for FY26 stood at ₹61,816.53 lakhs against ₹56,200.68 lakhs in FY25. However, net profit for the year declined to ₹1,576.61 lakhs from ₹3,949.55 lakhs, primarily due to an exceptional item of ₹3,324.66 lakhs — the reversal of technical know-how income recognised in an earlier year, attributable to ongoing regional instability in the Middle East that prevented a customer from meeting its committed timeline. Profit before exceptional items and tax for FY26 was ₹6,216.96 lakhs, compared to ₹4,600.77 lakhs in FY25, reflecting underlying operational improvement.

The following table summarises the key financial metrics for the year and the most recent quarter:

Metric: Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Revenue from Operations (₹ Lakhs): 15,305.75 16,122.27 15,447.25 61,103.14 54,260.24 Total Income (₹ Lakhs): 15,601.37 16,286.98 16,804.41 61,816.53 56,200.68 Total Expenses (₹ Lakhs): 14,357.59 14,362.52 15,632.21 55,599.57 51,599.91 Profit Before Exceptional Items & Tax (₹ Lakhs): 1,243.78 1,924.46 1,172.20 6,216.96 4,600.77 Exceptional Items (₹ Lakhs): (3,324.66) — — (3,324.66) — Profit / (Loss) Before Tax (₹ Lakhs): (2,080.88) 1,924.46 1,172.20 2,892.30 4,600.77 Profit / (Loss) After Tax – Continuing Operations (₹ Lakhs): (1,941.28) 1,610.09 1,159.30 2,131.04 4,292.88 Loss After Tax – Discontinued Operations (₹ Lakhs): (343.78) (42.71) (41.52) (554.43) (343.33) Net Profit / (Loss) for the Period (₹ Lakhs): (2,285.06) 1,567.38 1,117.78 1,576.61 3,949.55 Total Comprehensive Income (₹ Lakhs): (2,280.20) 1,586.09 1,462.95 1,637.59 4,086.56

Earnings Per Share

The earnings per share figures for FY26 and FY25 reflect the impact of the exceptional item and discontinued operations on the full-year results.

EPS Metric: FY26 FY25 Basic EPS – Continuing Operations (₹): 6.73 14.45 Diluted EPS – Continuing Operations (₹): 6.72 14.26 Basic EPS – Discontinued Operations (₹): (1.75) (1.16) Diluted EPS – Discontinued Operations (₹): (1.75) (1.14) Basic EPS – Total Operations (₹): 4.98 13.29 Diluted EPS – Total Operations (₹): 4.97 13.12

Discontinued Operations and Asset Disposals

The company has classified certain manufacturing units and industrial land as assets held for sale under Ind AS 105. During the quarter ended March 31, 2026, one unit situated at plot no. L-9/3, MIDC Tarapur was sold. Loss after tax from discontinued operations for FY26 stood at ₹554.43 lakhs, compared to ₹343.33 lakhs in FY25. Non-current assets classified as held for sale stood at ₹6,993.00 lakhs as at March 31, 2026.

Preferential Issue and Fund Utilisation

On March 18, 2026, the Board approved the allotment of 20,79,409 fully paid-up equity shares at a price of ₹338 per share (including a premium of ₹333) pursuant to the conversion of warrants. Earlier, on September 19, 2024, the company had allotted 39,84,852 equity shares and 20,79,409 convertible warrants, raising an aggregate amount of ₹15,225.90 lakhs. The utilisation of funds raised through the preferential issue is detailed below:

Particulars: Amount to be Utilised (₹ Lakhs) Utilised up to 31 March 2026 (₹ Lakhs) Unutilised Balance (₹ Lakhs) Repayment of Loan: 15,000.00 15,000.00 — Investment in Capital Expenditure: 3,500.00 315.90 3,184.10 General Corporate Purposes: 1,997.00 1,984.28 12.72 Total: 20,497.00 17,300.18 3,196.82

Dividend, Auditor Appointments, and Acquisition Update

The Board recommended a final dividend of ₹1.50 per equity share (30% of face value of ₹5 each) for FY26, subject to shareholder approval at the ensuing Annual General Meeting. The paid-up equity share capital as at March 31, 2026 stood at ₹1,683.13 lakhs, with other equity at ₹51,617.10 lakhs. The Board also approved the appointment of M/s. JCR & Co. LLP, Chartered Accountants, as Internal Auditors for FY2026-27, and the re-appointment of M/s. V.J. Talati & Co., Cost Accountants, as Cost Auditors for FY2026-27. Separately, in April 2025, the company acquired Genrx Pharmaceuticals Private Limited (in Liquidation) on a going concern basis for a total consideration of ₹1,085 lakhs; however, Genrx has not been consolidated as a subsidiary pending requisite approvals from the National Company Law Tribunal, Mumbai, as control under Ind AS 110 has not yet been established.

Bajaj Healthcare Limited's Board of Directors convened on May 8, 2026, and approved the audited standalone financial results for the quarter and financial year ended March 31, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. For Q4 FY26, the company reported a net loss of ₹194M against a net profit of ₹112M in the same quarter last year, while quarterly revenue stood at ₹1.53B compared to ₹1.54B in Q4 FY25. The board also recommended a final dividend and made key auditor appointments for the financial year 2026-27. The statutory audit was conducted by Walker Chandiok & Co LLP, Chartered Accountants, who issued an unmodified opinion on the standalone financial results.

Financial Performance Overview

Bajaj Healthcare reported revenue from operations of ₹61,103.14 lakhs for FY26, compared to ₹54,260.24 lakhs in FY25. Total income for the year stood at ₹61,816.53 lakhs against ₹56,200.68 lakhs in the previous year. However, a significant exceptional item of ₹3,324.66 lakhs — arising from the reversal of income recognised in an earlier year related to a Technical Know-how transfer arrangement impacted by regional instability in the Middle East — weighed on the quarterly and full-year profitability. The following table summarises the key financial metrics:

Metric Q4 FY26 Q4 FY25 FY26 FY25 Revenue from Operations (₹ Lakhs) 15,305.75 15,447.25 61,103.14 54,260.24 Total Income (₹ Lakhs) 15,601.37 16,804.41 61,816.53 56,200.68 Total Expenses (₹ Lakhs) 14,357.59 15,632.21 55,599.57 51,599.91 Profit Before Exceptional Items & Tax (₹ Lakhs) 1,243.78 1,172.20 6,216.96 4,600.77 Exceptional Items (₹ Lakhs) (3,324.66) - (3,324.66) - Profit / (Loss) Before Tax (₹ Lakhs) (2,080.88) 1,172.20 2,892.30 4,600.77 Profit / (Loss) After Tax – Continuing Operations (₹ Lakhs) (1,941.28) 1,159.30 2,131.04 4,292.88 Loss After Tax – Discontinued Operations (₹ Lakhs) (343.78) (41.52) (554.43) (343.33) Net Profit / (Loss) for the Period (₹ Lakhs) (2,285.06) 1,117.78 1,576.61 3,949.55 Total Comprehensive Income (₹ Lakhs) (2,280.20) 1,462.95 1,637.59 4,086.56

Earnings Per Share

The earnings per share figures reflect the impact of the exceptional item during Q4 FY26. The EPS details are as follows:

EPS Metric Q4 FY26 Q4 FY25 FY26 FY25 Basic EPS – Continuing Operations (₹) (6.08) 3.67 6.73 14.45 Diluted EPS – Continuing Operations (₹) (6.07) 3.59 6.72 14.26 Basic EPS – Discontinued Operations (₹) (1.08) (0.13) (1.75) (1.16) Diluted EPS – Discontinued Operations (₹) (1.08) (0.13) (1.75) (1.14) Basic EPS – Total Operations (₹) (7.16) 3.54 4.98 13.29 Diluted EPS – Total Operations (₹) (7.15) 3.46 4.97 13.12

Balance Sheet Highlights

As at March 31, 2026, total assets stood at ₹92,321.72 lakhs compared to ₹83,304.62 lakhs in the previous year. Total equity improved to ₹53,300.23 lakhs from ₹46,616.42 lakhs. Key balance sheet items are presented below:

Parameter 31 Mar 2026 (₹ Lakhs) 31 Mar 2025 (₹ Lakhs) Total Non-Current Assets 28,420.50 26,927.49 Total Current Assets 56,908.22 48,826.15 Total Assets 92,321.72 83,304.62 Share Capital 1,683.13 1,579.16 Other Equity 51,617.10 45,037.26 Total Equity 53,300.23 46,616.42 Total Non-Current Liabilities 5,773.25 6,990.00 Total Current Liabilities 31,956.24 27,226.63 Total Liabilities 39,021.49 36,688.20

Cash Flow Summary

Net cash flow from operating activities improved significantly to ₹5,808.13 lakhs from ₹2,162.05 lakhs in the previous year. Cash and cash equivalents at the end of the period stood at ₹3,723.54 lakhs compared to ₹260.38 lakhs at the start of the year.

Cash Flow Item FY26 (₹ Lakhs) FY25 (₹ Lakhs) Net Cash from Operating Activities 5,808.13 2,162.05 Net Cash used in Investing Activities (4,777.95) (1,481.51) Net Cash from / (used in) Financing Activities 2,432.98 (637.63) Net Increase in Cash & Cash Equivalents 3,463.16 42.91 Closing Cash & Cash Equivalents 3,723.54 260.38

Dividend and Corporate Actions

The board recommended a final dividend at the rate of 30% of the face value of ₹5 per share, amounting to ₹1.50 per equity share for FY2025-26, subject to shareholder approval at the ensuing Annual General Meeting. Additionally, the board approved the allotment of 20,79,409 fully paid-up equity shares at ₹338 per share (including a premium of ₹333) pursuant to the conversion of warrants, as part of a preferential issue approved at the Extra-Ordinary General Meeting held on August 7, 2024. The utilisation of funds raised through the preferential issue is detailed below:

Particulars Amount to be Utilised (₹ Lakhs) Utilised up to 31 Mar 2026 (₹ Lakhs) Unutilised Balance (₹ Lakhs) Repayment of Loan 15,000.00 15,000.00 - Investment in Capital Expenditure 3,500.00 315.90 3,184.10 General Corporate Purposes 1,997.00 1,984.28 12.72 Total 20,497.00 17,300.18 3,196.82

Auditor Appointments and Discontinued Operations

The board appointed M/s. JCR & Co. LLP, Chartered Accountants, as Internal Auditors for FY2026-27 and re-appointed M/s. V.J. Talati & Co., Cost Accountants, as Cost Auditors for FY2026-27. Regarding discontinued operations, one unit situated at plot no. L-9/3, MIDC Tarapur was sold during Q4 FY26. The loss after tax from discontinued operations for FY26 stood at ₹554.43 lakhs compared to ₹343.33 lakhs in FY25. Separately, the company acquired Genrx Pharmaceuticals Private Limited (in Liquidation) on a going concern basis for a total consideration of ₹1,085 lakhs; the matter is pending with the NCLT as of March 31, 2026, and Genrx has not been consolidated as a subsidiary pending requisite approvals. The board meeting commenced at 5:15 p.m. and concluded at 6:30 p.m. on May 8, 2026, with the official communication signed by Monica Tanwar, Company Secretary and Compliance Officer.

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