Bajaj Healthcare Limited reported a 26.8% year-on-year increase in consolidated profit after tax for the quarter ended September 30, 2026 (Q2FY27). Net profit rose to ₹14.1 crore from ₹11.1 crore in the corresponding period last year, supported by robust top-line growth and operational efficiency.

Revenue from operations grew 18.9% YoY to ₹17.6 crore, up from ₹14.8 crore in Q2FY26. The company operates in the pharmaceuticals sector, dealing in formulations and active pharmaceutical ingredients (APIs), which are interlinked and interdependent, constituting a single reportable segment.

Financial Performance Highlights

The Board of Directors approved the unaudited standalone financial results on October 17, 2026. The results were subjected to a limited review by Walker Chandiok & Co LLP, the statutory auditors, who expressed an unmodified review conclusion.

Note: Figures converted from Lakhs to Crore for readability where applicable, but source data is in Lakhs. Exact source figures in Lakhs: Revenue: 17,590.16 vs 14,791.49; PAT (Total): 1,409.40 vs 1,110.92.

Segment and Operational Updates

The company continues to streamline its asset base. During the quarter, Bajaj Healthcare sold a portion of its land at Plot No. D-2/CH/42 & D-2/CH/43 Dahej Industrial Area, GIDC, Bharuch, Gujarat. This unit was previously acquired under the SARFAESI Act, 2022, and classified as held for sale. Subsequent to the quarter-end, the sale of this plot was completed.

Additionally, the Board approved the sale of its unit at Plot No. N-178, MIDC Tarapur, with an expected conclusion by October 31, 2026. These disposals reflect the company's strategy to divest non-core assets acquired through distressed channels.

What the Numbers Show

A divergence between operating cash flow and net profit highlights working capital pressures. While profit before tax from continuing operations stood at ₹34.9 crore for H1FY27, net cash flow from operating activities dropped significantly to ₹15.7 crore from ₹50.2 crore in the year-ago period. This decline is primarily attributed to a substantial increase in trade receivables (₹21.5 crore outflow) and inventories (₹20.5 crore outflow), indicating that revenue growth is currently being funded by working capital expansion rather than immediate cash conversion.

Furthermore, the acquisition of Genrx Pharmaceuticals Private Limited saw a regulatory breakthrough. On October 13, 2026, the National Company Law Tribunal (NCLT) approved the acquisition on a going concern basis. As control was not established as of September 30, 2026, Genrx was not consolidated in these results. Post-NCLT approval, Genrx will become a wholly owned subsidiary, subject to procedural formalities.

Balance Sheet Position

As of September 30, 2026, total assets stood at ₹98.1 crore, up from ₹92.3 crore as of March 31, 2026. Equity capital increased slightly to ₹55.7 crore. Non-current borrowings rose to ₹7.0 crore from ₹4.8 crore, while current borrowings increased to ₹19.7 crore from ₹18.6 crore, reflecting increased leverage to support capital expenditure and working capital needs.

Bajaj Healthcare Limited received approval from the National Company Law Tribunal (NCLT) Mumbai Bench for the acquisition of Genrx Pharmaceuticals Private Limited on a going concern basis.

The order was passed on October 13, 2026, and downloaded by the company on the same day. This development follows earlier disclosures made in April 2025 regarding the proposed acquisition of the entity, which is currently in liquidation.

Acquisition Details and Structure

Under the terms approved by the NCLT, Genrx Pharmaceuticals Private Limited will become a wholly owned subsidiary of Bajaj Healthcare Limited. The acquisition is subject to the implementation of specific terms outlined in the tribunal's order.

The NCLT order remains effective from October 13, 2026, until any further orders or directions are issued by the tribunal. The company stated it will take necessary actions in accordance with these terms.

Regulatory Compliance and Trading Window

Bajaj Healthcare disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no aberrations or non-compliances were identified by the authority in the communication.

Furthermore, the trading window for dealing in securities of Bajaj Healthcare Limited remains closed for all designated persons and their immediate relatives. This restriction continues in line with the company's code of internal procedures and earlier disclosures dated September 23, 2026.

Key Disclosure Points