Balaxi Pharmaceuticals (BALAXI) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 revenue declined 27% year-over-year to ₹56.17 crore due to softer demand, working capital pressure, and logistics delays.

• Net profit dropped sharply to ₹0.21 crore from ₹4.59 crore last year, mainly due to higher operational costs and a strategic shift to institutional and hospital markets.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

• Investment of up to $4 million approved in wholly owned subsidiary Balaxi Global FZCO, Dubai, to support operational and business expansion.

• Manufacturing facility in Hyderabad was commissioned, with initial test batches produced and regulatory processes underway.

Financial highlights

• Q2 FY26 revenue: ₹56.17 crore (down 27.4% YoY); gross profit: ₹27.14 crore (down 18.3% YoY).

• EBITDA for Q2 FY26: ₹1.17 crore (down 88.9% YoY); EBITDA margin fell to 2.1% from 13.7%.

• PAT for Q2 FY26: ₹0.21 crore (down 95.4% YoY); PAT margin at 0.4%.

• Standalone revenue from operations for H1 FY26 was ₹3,601.82 lakhs, up from ₹2,115.53 lakhs in H1 FY25.

• Consolidated revenue for H1 FY26 was ₹12,691.74 lakhs, down from ₹14,300.38 lakhs in H1 FY25.

Outlook and guidance

• Near-term performance expected to remain challenged by market and operational factors.

• Investment in Balaxi Global FZCO aims to drive operational and business expansion, with completion expected by March 31, 2026.

• Commissioned manufacturing facility and regulatory progress expected to drive operational integration, margin improvement, and long-term growth.