Bajaj Healthcare declared a final dividend of ₹1.50 per equity share for FY26 at its 33rd Annual General Meeting held on September 21, 2026, with all six resolutions receiving the requisite majority. The company subsequently submitted voting results and a consolidated scrutinizer's report to stock exchanges on September 22, 2026.

The AGM was conducted via video conferencing from 3:00 pm to 3:34 pm. A total of 49 members attended through video conferencing, comprising 7 from the promoter and promoter group and 42 from the public. The record date for voting eligibility was September 14, 2026, on which the total number of shareholders stood at 41,967. Remote e-voting was open from September 17, 2026 at 9:00 am to September 20, 2026 at 5:00 pm, with e-voting also provided to shareholders present at the AGM.

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

Voting results summary

All six resolutions were passed. The table below presents the consolidated voting outcome across resolutions, reflecting votes polled as a percentage of total outstanding shares of 33,665,161.

Resolution 3, concerning the reappointment of Pakshal Anil Jain as director, drew the highest dissent, with 568,932 votes against, representing 2.7902% of votes polled. All other resolutions recorded dissent of 11 votes or 14 votes, amounting to 0.0001% of votes polled.

Scrutinizer and governance details

Haresh Sanghvi, Practicing Company Secretary (FCS 2259, CoP No. 3675), was appointed as Scrutinizer by the Board of Directors on July 20, 2026, and issued his consolidated report on September 21, 2026. Voting was conducted through the e-voting platform of National Securities Depository Limited. The scrutinizer's report was countersigned by an authorised signatory for Bajaj Healthcare Limited on September 22, 2026.

The Statutory Auditors' Report and Secretarial Audit Report for FY26 were taken as read during the meeting, with no qualifications or observations noted. The consolidated e-voting results were submitted to stock exchanges within two working days, in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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.