Bajaj Healthcare reported a strong Q2 FY27, with profit rising 27% to Rs 14.1 crore as revenue grew 18.9% to Rs 175.9 crore. The company gained India's first DCGI approval for Cenobamate API and tablets and received NCLT clearance to acquire GenRx. A credit rating upgrade to IND A/Stable further underscores improved financial health, even as the company works to address a slight decline in domestic API sales.
Bajaj Healthcare Q2 Profit Jumps 27% to Rs 14.1 Crore
Revenue rose 18.9% to Rs 175.9 crore; Profit After Tax grew 26.9% to Rs 14.1 crore.
Reader Takeaway: Strong export momentum and formulation growth drive profits, while domestic API sales see a slight seasonal dip.
What just happened
Bajaj Healthcare has posted resilient financial results for the second quarter ending September 2026. The firm recorded a 18.9% year-on-year revenue increase to Rs 175.9 crore, supported by an 82% surge in its formulations business. Profitability outpaced revenue growth, with net profit climbing 26.9% to Rs 14.1 crore.
Why this matters
The company achieved a significant regulatory milestone as the first in India to receive DCGI approval for Cenobamate API and tablets, used for treating partial-onset seizures. Additionally, the NCLT has approved the acquisition of GenRx, which is expected to bolster the firm's formulation capabilities. These developments coincide with a credit rating upgrade to IND A/Stable from India Ratings, reflecting strengthened balance sheet stability.
The backstory
The company faced a competitive domestic API environment, where sales dipped 6.1% to Rs 71.6 crore this quarter. However, this was effectively offset by strong API export performance, which grew 28.5% to Rs 62.6 crore. Management noted that the combined revenue from exports and formulations surpassed Rs 100 crore, indicating a successful shift toward higher-growth segments.
Risks to watch
Investors should closely watch the integration of the GenRx business and the commercial scaling of the Cenobamate product line. While export and formulation growth remain strong, the ongoing decline in domestic API revenue will require careful monitoring in the coming quarters to ensure balanced portfolio performance.
What to track next
The commissioning of the company's new peptide facility is scheduled for Q4 FY27. Furthermore, the company continues to pursue international regulatory filings, including ANVISA GMP certification for the Brazilian market, which remains a key long-term growth catalyst.