Bajaj Healthcare declared a final dividend of ₹1.50 per equity share for FY26 during its 33rd Annual General Meeting held on September 21, 2026. The meeting, conducted via video conferencing, saw shareholders approve ordinary and special resolutions regarding board appointments and auditor remuneration.

The quorum was established with 49 members present. Chairman & Managing Director Sajankumar R. Bajaj presided over the proceedings, while Managing Director Anil Champalal Jain addressed the attendees. The Statutory Auditors’ Report and Secretarial Audit Report for FY26 were taken as read, with no qualifications or observations noted by the auditors.

Key Resolutions Approved

Shareholders transacted the following items of business:

• Adoption of audited financial statements for the year ended March 31, 2026
• Declaration of final dividend of ₹1.50 per equity share for FY26
• Reappointment of Whole-Time Director Pakshal Anil Jain, who retired by rotation
• Continuation of Independent Director Gopalakrishnan Kesavan’s tenure upon attaining age 75
• Approval of remuneration for Non-Executive Non-Independent Director Sandeep Shah for FY27
• Ratification of Cost Auditor remuneration for FY27

Governance and Compliance

The Company Secretary confirmed that remote e-voting facilities were provided from September 17 to September 20, 2026. Haresh Sanghvi served as the Scrutinizer for the voting process. The consolidated e-voting results will be submitted to stock exchanges within two working days.

No analytical observation is included as the source document contains no financial performance data beyond the dividend declaration.

Bajaj Healthcare has fixed September 14, 2026, as the record date for its proposed final dividend of ₹1.50 per equity share for FY26. The payout represents a 30% dividend on the face value of ₹5.

The Mumbai-based pharmaceutical manufacturer reported a 12.6% year-on-year rise in revenue to ₹611.03 crore for FY26, driven by strong overseas performance. However, net profit fell 50.4% to ₹213.10 crore due to a significant one-time exceptional loss.

The Company held its 33rd Annual General Meeting on September 21, 2026, where shareholders approved the adoption of the audited financial statements for the fiscal year ended March 31, 2026. The Board also recommended the final dividend, which will be paid to shareholders whose names appear in the Register of Members or depository records as beneficial owners on the record date.

Financial Performance

Revenue from operations grew from ₹542.60 crore in FY25 to ₹611.03 crore in FY26. EBITDA increased by 9.9% to ₹111.95 crore, reflecting improved operating performance and higher export sales. Despite this top-line growth, the EBITDA margin contracted by 45 basis points to 18.32% from 18.77% in the previous year.

Profit before tax (PBT) before exceptional items rose 35.1% to ₹62.17 crore, supported by a 20.3% decline in finance costs to ₹22.23 crore. This reduction in interest expense was primarily attributable to lower levels of cash credit and working capital loans.

What the Numbers Show

The divergence between robust operational growth and declining bottom-line profitability was driven entirely by non-recurring items. The Company recognized a one-time exceptional loss of ₹332.47 crore during the year. This charge resulted from the reversal of income previously recognized under a transfer of technical know-how arrangement with a Middle East-based customer. Due to regional instability, the customer failed to meet committed timelines, necessitating the reversal. Without this exceptional item, PBT would have grown significantly, highlighting that the core operational engine remains healthy despite the headline profit decline.

Balance Sheet and Capital Structure

The Company strengthened its equity base through the conversion of warrants into equity shares, raising approximately ₹52.71 crore. This capital infusion, alongside debt repayments, reduced the debt-equity ratio to 0.47 times from 0.51 times in FY25.

Net worth expanded by 14.3% to ₹533.00 crore. Cash and cash equivalents surged to ₹37.24 crore from ₹2.60 crore in the prior year, bolstered by operating cash flows of ₹58.08 crore. Trade receivables improved to 140 days of sales from 169 days, indicating better collection efficiency despite revenue growth.

Strategic Developments

During FY26, Bajaj Healthcare continued its transition toward specialized molecules and formulation capabilities. The Company acquired Genrx Pharmaceuticals Private Limited through the insolvency resolution process to strengthen its formulation portfolio, though the facility remains pending tribunal approvals. R&D expenditure doubled to ₹13.15 crore (2.2% of revenue), supporting pipeline development in oncology and complex generics.