MarketFriction

Bajaj Healthcare Ltd

NSE BAJAJHCARE · BSE 539872 · Pharmaceuticals
₹322.95 -1.30%
NSE close2026-10-01
52 week range272.35 - 506.45
Market cap₹1,126 Cr.
P/E20.0
Price band 20% Delivery 50.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales101109134132133123154149148161153166
Expenses8289118108109101143124121131130137
Operating Profit192016242522122527312329
OPM %19%18%12%19%18%18%8%16%18%19%15%17%
Other Income-7-7-36-04-113101-341
Interest876886656666
Depreciation777777867787
Profit before tax-3-1-33914811141519-2416
Tax %4%58%-10%23%30%-39%1%17%24%17%-6%16%
Net Profit-3-2-30791211121116-2314
EPS in Rs-1.25-0.80-10.842.583.003.713.543.753.524.96-6.794.07
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales223231327370410657680646473543611628
Expenses193200288327362521561534397460506519
Operating Profit30313943481361191127683105109
OPM %14%13%12%12%12%21%17%17%16%15%17%17%
Other Income0221771-19-10516-32-32
Interest888878131830282223
Depreciation91111111216181728282829
Profit before tax14142324361199058-86432325
Tax %39%43%33%33%30%30%20%25%-3%7%33%
Net Profit88151625837143-84401618
EPS in Rs3.042.835.505.919.1430.1125.8715.59-30.3612.514.685.76
Dividend Payout %0%0%5%0%0%5%6%6%-3%8%32%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%-1%-2%12%
Compounded Profit Growth17%-13%-1%20%
Stock Price CAGR18%-5%-11%-32%
Return on Equity12%8%3%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2777714141414141617
Reserves788292107122164245315354265450516
Borrowings708175878191181257415333223249
Other Liabilities38394568577486136115154144141
Total Liabilities189209219268267343526721898765833923
Fixed Assets108130128127128162208270366253238248
CWIP110215575222738
Investments000005000000
Other Assets797891140137170260399510506591667
Total Assets189209219268267343526721898765833923
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity282522172521441-22922258
Cash from Investing Activity-17-31-8-12-13-28-109-75-93-11-15-48
Cash from Financing Activity-115-132-1337562131-97-624
Net Cash Flow-0-007-0-410-1216-16035
Free Cash Flow11-614511-2-70-74-115731018
CFO/OP99%100%88%57%89%62%58%9%-10%138%32%53%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days8670839077885599110139169140
Inventory Days50564557455494143199206206249
Days Payable634651744580679481128127133
Cash Conversion Cycle73807873776282148228217248256
Working Capital Days-11-17-401224344027-0141132
ROCE %16%13%13%16%16%18%36%20%14%8%11%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters67.69%67.73%67.74%67.74%59.19%59.19%59.19%59.19%59.19%59.19%58.29%58.59%
FIIs0.66%0.74%0.53%0.00%1.07%1.01%1.05%1.09%1.12%1.18%1.98%2.19%
DIIs0.43%0.48%0.43%0.00%1.97%2.36%2.52%3.16%2.99%2.96%2.91%1.92%
Public31.22%31.06%31.31%32.27%37.77%37.45%37.25%36.56%36.70%36.67%36.82%37.30%
No. of Shareholders28,00829,62632,71232,39731,99532,67235,71035,98038,57637,95338,15841,310

Fundamentals

Market Cap₹ 1,126 Cr.
Current Price₹ 335
Stock P/E20.0
Book Value₹ 158
ROCE11.5 %
ROE8.26 %
Dividend Yield0.45 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)12%
Compounded Profit Growth (TTM)20%
Standalone figures.
Valuation
Market capRs 1,087 Cr
Enterprise valueRs 1,298 Cr
P/E (TTM)61.66x
Price to book2.04x
Price to sales1.73x
EV / EBITDA16.76x
EV / EBIT26.73x
EV / sales2.07x
Price to cash flow18.72x
Earnings yield1.62%
Dividend yield0.46%
P/E, 3-year average57.76x
P/B, 3-year average3.09x
P/E, 5-year average37.09x
P/B, 5-year average2.89x
Profitability
Operating margin (excl. other income)17.17%
Operating margin (incl. other income)11.99%
EBITDA margin12.34%
Pre-tax margin4.06%
Net profit margin2.81%
Net margin, latest quarter8.27%
ROE3.16%
ROCE6.21%
ROA1.80%
ROE, 3-year average-4.06%
ROCE, 3-year average2.99%
ROA, 3-year average-1.11%
ROE, 5-year average4.90%
ROCE, 5-year average8.00%
ROA, 5-year average2.69%
ROIC (approx.)4.40%
Tax rate32.55%
Other income / net worth-5.94%
Growth
Sales growth (latest year)12.61%
Profit growth (latest year)-60.08%
Sales CAGR, 3 years-1.83%
Sales CAGR, 5 years-1.44%
Profit CAGR, 3 years-28.43%
Profit CAGR, 5 years-28.28%
Sales growth QoQ8.21%
Sales growth YoY (latest quarter)11.28%
Profit growth YoY (latest quarter)15.81%
Per share
EPS (TTM)Rs 5.24
EPS (latest year)Rs 4.68
EPS (latest quarter)Rs 4.07
EPS, 3-year averageRs -4.39
EPS, 5-year averageRs 5.66
Book value per shareRs 158.34
Sales per shareRs 186.50
Cash flow per shareRs 17.25
Free cash flow per shareRs 5.35
Dividend per share (latest year)Rs 1.50
Dividend per share, 3-year averageRs 1.17
Dividend per share, 5-year averageRs 1.20
Dividends
Dividend payout32.02%
Dividend payout, 3-year average20.01%
Dividend payout, 5-year average13.06%
Efficiency
Asset turnover0.66x
Fixed asset turnover2.46x
Inventory turnover1.89x
Inventory days193 days
Debtor days140 days
Debtors turnover2.61x
Creditor days133 days
Cash conversion cycle256 days
Working capital days132 days
Leverage
Total debtRs 249 Cr
Cash and bankRs 38 Cr
Net debtRs 211 Cr
Debt to equity0.47x
Net debt / EBITDA2.72x
Interest coverage2.10x
Current ratio (filing 2026-03-31)1.78x
Quick ratio (filing 2026-03-31)1.10x
Trade payables (filing 2026-03-31)Rs 115 Cr
Owners' fund to total sources57.73%
Debt to assets26.98%
Cash flow
Cash from Operating Activity (latest year)Rs 58 Cr
Cash from Investing Activity (latest year)Rs -48 Cr
Cash from Financing Activity (latest year)Rs 24 Cr
Net Cash Flow (latest year)Rs 35 Cr
Free cash flow (latest year)Rs 18 Cr
FCFE (approx.: FCF + change in debt)Rs 44 Cr
Cash from ops / profit, 5 years1.76x
Sales to cash flow10.52x
Statement figures
Net sales (TTM)Rs 628 Cr
Net sales (latest year)Rs 611 Cr
Sales (latest quarter)Rs 166 Cr
Operating profit excl. other income (latest year)Rs 105 Cr
Operating profit (latest quarter)Rs 29 Cr
Other income (TTM)Rs -32 Cr
EBITDA (TTM)Rs 77 Cr
PBDT (TTM)Rs 54 Cr
Profit before tax (TTM)Rs 25 Cr
Tax (latest year)Rs 8 Cr
Net profit (TTM)Rs 18 Cr
Net profit (latest year)Rs 16 Cr
Net profit (latest quarter)Rs 14 Cr
Depreciation (TTM)Rs 29 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 23 Cr
Cost of goods sold (latest year)Rs 409 Cr
Total expenditure (latest year)Rs 506 Cr
Total income (latest year)Rs 579 Cr
Share capitalRs 17 Cr
ReservesRs 516 Cr
Shareholders' fundsRs 533 Cr
Total assetsRs 923 Cr
Net blockRs 248 Cr
Capital work in progressRs 8 Cr
ReceivablesRs 234 Cr
InventoryRs 216 Cr
Other liabilitiesRs 141 Cr
Shares outstanding (crore)3.37
Ownership
Promoter holding58.59% (-0.60 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 61.7 is at the 94th percentile of its own 8.5-year range (median 24.4, low 12.6, high 75.1).
P/B 2.04 is the lowest in 9.4 years (median 3.39).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBAJAJHCARENifty 50Difference
1 week-7.8%-2.8% -5.0 pts
1 month-1.8%-6.8% +5.0 pts
3 months-6.3%-7.6% +1.3 pts
6 months+11.3%+0.4% +10.9 pts
1 year-34.7%-9.9% -24.8 pts
2 years-17.1%-13.6% -3.5 pts
3 years-31.7%+14.2% -45.8 pts
5 years-25.1%+27.9% -53.0 pts
2 mutual fund schemes hold about ₹19 Cr. Over three months 0 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Pharma and Healthcare Fund0.57%19 -20%
Bandhan BSE Healthcare Index Fund0.03%0 -1%

Red flags

F-score 5 of 8
lookRegulator order or action Regulator order or action 2025-12-06: Bajaj Healthcare Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹166 Cr +11.4% vs Jun 2025. Net profit ₹14 Cr +16.7%.
Against our estimate for Jun 2026: sales -3.2%, profit +5.4% in line. Our estimate for Sep 2026: sales Rs 156 Cr, profit Rs 12 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Rs 1.50 Per Share
2025-09-19Dividend - Re 1 Per Share
2024-09-23Annual General Meeting/Dividend - Re 1 Per Share
2023-09-22Annual General Meeting/Dividend - Re 1 Per Share
2022-09-22Annual General Meeting/Dividend - Rs 1.50 Per Share
DateTypeWhat it says
2026-09-22Shareholder meetingVoting results.
2026-09-21Shareholder meetingProceedings of Annual General Meeting held on September 21, 2026
2026-09-03Record DateRecord date for the purpose of Dividend is 14-Sep-2026.
2026-08-29General UpdatesThe Inland Letters sent to Shareholders
2026-08-29General UpdatesBusiness Responsibility and Sustainability Report for the financial year 2025-26
2026-08-29Shareholder meetingNotice of Annual General Meeting to be held on September 21, 2026
2026-08-21ESOPAllotment of 2500 Equity Shares.
2026-08-21ESOP grantOptions to purchase securities (Allotment of equity shares pursuant to exercise of ESOPs)
2026-08-12Granting/withdrawal/surrendeGranting/withdrawal/surrender/cancellation/suspension of key licenses/ regulatory approvals
2026-08-06Credit Rating- RevisionCredit Rating- Revision
2026-07-27Concall / analyst meetTranscript
2026-07-21Concall / analyst meetLink of Recording
2026-07-20UpdatesIntimation for grant of Employee Stock Options under Bajaj Healthcare Limited Employee Stock Option Plan 2024.
2026-07-20Press ReleaseA press release dated July 20, 2026, titled "Press Release for the quarter ended June 30, 2026".
2026-07-20Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-07-20Monitoring Agency ReportMonitoring Agency Report for the quarter ended June 30, 2026
2026-07-20Change in ManagementChange in Management
2026-07-20Board meeting outcomeBajaj Healthcare Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-16Concall / analyst meetSchedule of meet
2026-07-16Concall / analyst meetSchedule of meet
2026-06-26UpdatesThe Company has received a recommendation from SEC-CDSCO to manufacture and market Cenobamate Tablets.
2026-06-23General UpdatesGeneral Updates
2026-05-09Board meeting outcomeBajaj Healthcare Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-08Press ReleaseA press release dated May 08, 2026, titled "Press Release for the quarter and financial year ended 31st March 2026 ".
2026-05-08Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Bajaj Healthcare Ltd?

Bajaj Healthcare Ltd (BAJAJHCARE) has a market capitalisation of Rs 1,126 Cr. at the 2026-10-01 close.

What is the P/E ratio of Bajaj Healthcare Ltd?

Bajaj Healthcare Ltd trades at a P/E of 20.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Bajaj Healthcare Ltd's latest quarterly results?

In the Jun 2026 quarter, Bajaj Healthcare Ltd sales was Rs 166 Cr (+11.4% vs Jun 2025) and net profit was Rs 14 Cr.

What is the 52-week high and low of Bajaj Healthcare Ltd?

The 52-week high is Rs 506.45 and the 52-week low is Rs 272.35.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03