Blue Jet Health Q4 FY26 Results (NSE: BLUEJET)
Signal: Steady quarter
The read
Q4FY26 standalone turnaround – revenue +21.95% YoY, PAT +60.20% YoY on operating leverage and raw material cost tailwind; but full-year revenue -31.07%, PAT -18.80% – annual earnings still lower YoY; board also proposed ₹10,000 Mn fund raise via QIP/preferential issue for expansion
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹234.67 Cr | 21.95% | N/A |
| EBIT | ₹93.73 Cr | 56.85% | |
| Net profit | ₹64.34 Cr | 60.20% | |
| EPS | ₹3.71 | 59.91% | |
| EBIT margin | 37.14% |
P&L walk
Q4 revenue +21.95% YoY, gross margin expanded sharply on input cost reversal; EBITDA grew +56.85% YoY on operating leverage and raw material deflation
Segments
Company reports single segment – no segment divergence; all operations in pharma intermediates, APIs, artificial sweeteners and contrast media intermediates
Key positives
- Q4 revenue ₹2,346.68 Cr, +21.95% YoY – sharp reversal from full-year decline
- Q4 PAT ₹643.44 Cr, +60.20% YoY – margin expansion driven by raw material cost tailwind and operating leverage
- Other income ₹229.20 Cr, +85.48% YoY – strong treasury gains and fair value gains on investments
Key concerns
- Full-year revenue ₹7,432.71 Cr, -31.07% YoY – annual top line still sharply down, indicating Q4 spike may be base effect or pent-up demand
- Full-year PAT ₹2,478.16 Cr, -18.80% YoY – annual earnings contracted despite Q4 surge
- Fund raise of ₹10,000 Mn via QIP/preferential issue – potential dilution if equity portion is used
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