Blue Jet Healthcare reported robust earnings for Q2 FY’26, with EBITDA at Rs. 601 million (36% margin) and PAT at Rs. 432 million. H1 EBITDA reached Rs. 1,820 million (35% margin), and PAT was Rs. 1,342 million. The company is expanding capacity in Vizag for contrast media and artificial sweeteners, and backward integration in Mahad is on track. A new sweetener with a global market size of Rs. 1 billion is also in development.
Financial Highlights
Blue Jet Healthcare showcased a strong financial performance in Q2 FY’26 and H1 FY’26:
- Q2 FY’26:
- EBITDA: Rs. 601 million (36% margin), up 14% year-on-year.
- PAT: Rs. 432 million (26%).
- H1 FY’26:
- EBITDA: Rs. 1,820 million (35%), up 41% year-on-year.
- PAT: Rs. 1,342 million (36% growth).
Segment Performance
Contrast Media
Q2 revenues were Rs. 810 million, down 17% quarter-on-quarter. H1 revenues reached Rs. 1,780 million, consistent with the previous year. A new iodinated intermediate is expected to be commercial in Q4.
Pharma Intermediates and API
Q2 revenue was Rs. 420 million, down 80% quarter-on-quarter. However, H1 revenue grew by 113% year-on-year to Rs. 2,550 million. High-intensity Sweeteners grew 7% sequentially in Q2. A new Sweetener development has been approved with a global market size of Rs. 1 billion.
Strategic and Operational Updates
The groundwork has commenced on the 103-acre Vizag site, with Phase-I targeting capacity for contrast media and Artificial Sweeteners. The backward integration facility in Mahad is on track for commissioning by H2 FY’26.
Expansion Plans
The company has acquired a 103-acre land in Vizag and plans to add 1,000 KL capacity in the next 2-3 years. Phase-I, with a CAPEX of approximately Rs. 1,000 crores, includes blocks for Contrast Media, high-intensity Sweetener, and a multipurpose block. Phase-I is expected to be completed by FY’28.
R&D and Innovation
Blue Jet Healthcare is building capacity to supply building blocks and peptide fragments. A multipurpose plant and a state-of-the-art R&D center are planned in Hyderabad. The company is tracking 20 RFPs, including high conviction Phase-III leads in the chronic space. A new state-of-the-art R&D center is being planned at a cost of about Rs. 40 crores.
Sustainability
The company contributes about 70% of its total energy consumption from renewables and has received the CII National Award for Excellence in Energy Management.
Source: BSE
