Blue Jet Healthcare (BLUEJET) Q4 24/25 earnings summary

Executive summary

• FY2025 revenue reached ₹10,299.85 million and net profit ₹3,052.03 million; the auditor issued an unqualified opinion on the annual results.

• FY2025 revenue, EBITDA and PAT rose 44.7%, 64.8% and 86.4%, respectively; growth was led by pharma intermediates and APIs.

• Capacity additions and customer demand supported pharma-intermediate growth; contrast media recovered in H2 after a muted first half.

Financial highlights

• Q4 FY2025 revenue was ₹3,404.45 million; EBITDA was ₹1,400 million, up 12.9% QoQ and 163.7% YoY, with a 41.1% margin.

• FY2025 EBITDA was ₹3,777 million at a 36.7% margin; PAT was ₹3,052.03 million versus ₹1,637.51 million in FY2024.

• FY2025 gross profit was ₹5,688 million, up 43.2%; gross margin was 55.2% versus 55.8% in FY2024.

• FY2025 PBIT rose 79.0% to ₹3,599 million and PBT rose 84.5% to ₹4,060.99 million; Q4 PBT was ₹1,472.12 million.

• Q4 PAT was ₹1,100.95 million, up 11.2% QoQ and 177.7% YoY; Q4 EPS was ₹6.35.

Outlook and guidance

• Management expects growth momentum from customer demand visibility, multi-year contracts and available capacity, while declining to provide forward guidance.

• Iodinated-intermediate commercialization is expected in H1 FY2026, with significant full-year contribution expected from FY2027.

• Gadopiclenol-related intermediate sales are expected to grow gradually with market uptake; early signs of order-book growth are emerging.

• Mahad Unit 3 backward-integration facility is expected to validate and come on stream in H2 FY2026; Mahad MPP capacity is expected in H2 FY2027.

• Strategy includes capacity expansion, R&D, operational efficiency, supply-chain risk mitigation and development of advanced contrast-media intermediates and adjacent pharma opportunities.