Bajaj Healthcare Ltd. Results

Q2FY25 Quarterly Result Announced for Bajaj Healthcare Ltd.

Pharmaceuticals company Bajaj Healthcare announced Q2FY25 results Revenue from Operations: Rs 1,330.9 million compared to Rs 1,012.1 million, change 31.5% YoY. EBITDA: Rs 245.2 million compared to Rs 189.5 million, change 29.4% YoY. EBITDA Margin: 18.4% for Q2FY25. PAT: Rs 94.6 million compared to Rs -34.6 million. PAT Margin: 7.1% for Q2FY25. Anil Jain, Managing Director, said: “I am delighted to present the impressive results of our second quarter for FY25. Our revenue from operations surged by approximately 32% YoY led by robust performance across all segments this coupled with expansion in our margins resulted in a 90% year-onyear increase in our bottom line from our continuing operations. We continue to undertake all efforts to sell the assets from the discontinued operations and to use the proceeds for further debt repayment and minimize the losses from the discontinued operations. We have materially repaid our borrowings to the tune of Rs 1,500 million and this has further strengthened our financial position. Contribution from our API and Formulation segments rose, with both registering strong growth at 19% and 28%, respectively. The domestic demand has remained quite encouraging and has been a source of strength even as export markets are still largely wrestling sticky inflation and elevated freights. Another key highlight was the exceptional performance of our Opium Processing business, which grew multi-fold year-on-year. The segment has quickly become a meaningful growth driver for our overall business. We are focused on expanding capacity to meet increasing government requirements and sustain its high growth trajectory going forward. Our new development and supply agreement with a European partner for an Active Pharmaceutical Ingredient (API) underscores our commitment to maintaining the highest standards of quality, as evidenced by our adherence to Good Manufacturing Practices. This also presents us with a fascinating opportunity to showcase our development capabilities and further strengthen our CDMO business. It pleases me to report that we successfully completed an approximately Rs 2,050 million fund raise denoting the strong investor belief in our company’s abilities and our upcoming growth journey. We are now firmly on the path to maintaining profitability on an overall basis and look to carry forward this positive momentum from our recent performances.”

Q1FY23 Quarterly Result Announced for Bajaj Healthcare Ltd.

Pharmaceuticals firm Bajaj Healthcare announced Q1FY23 Result : Revenue from Operations has marginally degrown by 7.32% from Rs.1,856.89 Mn in Q1 FY22 to Rs.1720.69 Mn in Q1 FY23 mainly due to contraction of Covid-19 led opportunities. EBITDA has degrown by 22.85% from Rs.334.98 Mn in Q1 FY22 to Rs.258.44 Mn in Q1 FY23. There was de-growth in EBIDTA Margins from 18.04% in Q1 FY22 to 15.02% in Q1 FY23 on a YoY basis. The degrowth in EBITDA margins was mainly on account of weakening of Indian Rupee, thereby leading to an increase in imported raw material cost. The EBITDA margins strengthened on a sequential quarter basis by 67bps. Net profit has decline by 37.46% from Rs.192.18 Mn in Q1 FY22 to Rs. 120.19 Mn in Q1 FY23. The Net Profit Margins were at 6.98% in Q1 FY23 from 10.35% in Q1 FY22 owing to a decline in EBITDA margins as explained above. Commenting on the Q1 FY23 results, Mr. Sajankumar Bajaj (Chairman) said: “We are pleased to inform all our stakeholders that the company has reported an overall stable financial performance in Q1 FY23 despite witnessing inflationary headwinds for the major part of the quarter. Despite declining contribution from Covid related products, The company was able to retain its revenue achieved in Q1FY22 on account of covid related demand and post an improvement in quarterly EBITDA margins on a sequential basis."

Q3FY22 Quarterly Result Announced for Bajaj Healthcare Ltd.

Pharmaceuticals company Bajaj Healthcare declares Q3FY22 result: Revenue from Operations reported at Rs 1675.75 mn in Q3 FY22 and Rs 5041.76 mn for 9M FY22 EBITDA stands at Rs 310.29 mn in Q3 FY22 and Rs 942.90 mn for 9M FY22 PAT at Rs 174.45 mn in Q3 FY22 and Rs 539.14 mn for 9M FY22 Revenue from operations degrown by 6% from Rs 1783.34 mn in Q3 FY21 to Rs 1675.75 mn in Q3 FY22 mainly due to drop in the sales volume of Ascorbic Acid (Vitamin C) & CH Base The EBITDA decreased by 32% from Rs 458.16mn in Q3 FY21 to Rs 310.29 mn in Q3 FY22 . Though EBITDA Margin was maintained at 18% in the current quarter. Finance cost increased significantly by 48% from Rs 19.24mn in Q3 FY21 to Rs 28.45mn in Q3 FY22. Net profit stood at Rs 174.45 mn in Q3 FY22, compared to 264.23mn in Q3 FY21. Revenue from operations recorded a marginal degrowth by 4% from Rs 5248.02mn in 9M FY21 to Rs 5041.76mn in 9M FY22 mainly due to drop in the sales volume of Ascorbic Acid (Vitamin C) & CH Base. EBITDA declined by 11% from Rs 1064.67mn in 9M FY21 to Rs 942.90mn in 9M FY22 and EBITDA margins shrunk by 150 bps. Net profit stood at Rs 539.14mn in 9M FY22, compared to Rs 618.31mn in 9M FY21. Commenting on the performance of Q3 FY22 and 9M FY22, Mr. Sajankumar Bajaj (Chairman) said: “We have had a fairly weak quarter relatively where we have marginal degrowth in the third quarter, mainly due to fall in the sales volume of Ascorbic Acid (Vitamin C) and CH base. Our APIs business segment was marginally impacted whereas our formulation segment has reasonably grown on a nine months basis as compared to 9M FY21. Our Equity shares are now also quoted on the National Stock Exchange (NSE) from November 2021 onwards. We are happy to announce that we commenced the commercial production of APIs from the acquired Unit at Plot No T-30, MIDC, Tarapur, Maharashtra January, 2022 and expect this unit to incrementally contribute from this quarter i.e. Q4 of FY 22. One of the key challenges faced by the pharma sector in the 2nd half of FY22 is that of increasing prices of raw materials due to production abruptions in China.. BHL’s policy of maintaining increased inventory enabled us to earn better EBITDA margins. API segment revenues degrown by around 7% on a YoY (9 months) basis on account of weak performance & growth from our leading APIs. Formulation segment revenues grew by around 23% on a YoY (9 months) basis on the account of business from our existing clients and addition of few new clients. As the third wave of COVID-19 hits our nation and all other countries globally, we are seeing a rise in the demand of Ascorbic Acid (Vitamin C) & CH Base, which has very wide applications in medical, nutritional and sanitization based products. With the commencement of commercial production of the APIsfrom the acquired units, we expect to see significant improvement in our revenues and profitability in the coming quarters & years coupled with new product launches. Our expectations from the acquired assets on an optimum utilization basis would be upwards of INR 4,000 mn in the coming years. Consequently, we hope to generate healthy cash flow. We would like to assure that we are committed to deliver well in line with our guidance and market expectations on the basis of our strategic initiatives"