Just when the market thought oncology was Beta’s only playground, CMD Rahul Batra opened the call with a Diwali gift — migration to NSE’s main board in ten days. Not bad for a company juggling cytotoxics, biosimilars-in-waiting, and now… Italian beauty fillers. Who says science can’t be glamorous? But the street’s celebration paused when growth clocked 13% instead of the promised 25%. Cue CFO’s classic — “rain, audits, and product mix.” Still, margins rose, derma turned profitable, and Beta is filing dossiers faster than influencers post reels. Stick around — the pharma plot thickens.
At a Glance
- Revenue ₹204 Cr (↑13% YoY):Rain delays met Mexico audits — double trouble, same result.
- EBITDA ₹47 Cr (↑17% YoY):Margins ticked up to 23.08%; CFO swears it’s not Excel magic.
- PAT ₹28.7 Cr (↑18% YoY):Debenture interest excluded — fine print matters.
- Derma EBITDA positive:Finally, skincare isn’t just vanity, it’s profit.
- Exports ₹43 Cr (↑10%):Tender fatigue — expect adrenaline in H2.
- Stock Mood:Investors applying Italian fillers to smoothen growth wrinkles.
Management’s Key Commentary
“We’ve got principal approval to migrate to NSE’s main board in 10 days.”(Translation: The small-cap tag is finally too small for our ambitions.) 🎉
“EBITDA margins improved from 22.36% to 23.08%.”(CFO whisper: Don’t ask how, just clap.)
“Derma division turned EBITDA positive — ₹11.3 lakh profit.”(Baby steps, but hey, skincare pays bills now.)
“Filed 80 dossiers, got 43 new approvals — global hustle in motion.”(If paperwork were power, Beta could light up Gurgaon.)
“Acquired new intermediate plant to reduce China dependency.”(Swadeshi chemistry meets import paranoia.) 🇮🇳
“Europe audit between Jan–Mar 2026; we’ll be first cytotoxic suspension plant inspected.”(Translation: Europe’s regulators, get your hazmat suits ready.)
“Filed India’s first NDDS for Methotrexate oral solution.”(Three years of effort — finally, a mouthful of achievement.)
Numbers Decoded
| Segment | Revenue (₹ Cr) | YoY Growth | EBITDA Margin | Key Comment |
|---|---|---|---|---|
| Branded Oncology | 60 | +20% | ~35% | Domestic Rx powerplay, 6 brands near ₹5 Cr each |
| CDMO | 79 | +8% | 16–17% | Platin volumes high, margins not so much |
| Exports | 43 | +10% | NA | 80 dossiers filed, 43 approved – H2 boom ahead |
| API | 12.25 | +14% | NA | Backward integration in full swing |
| Derma/Cosmetics | 9.25 | +45% | Positive! | Fillers & Meso products making noise |
Note:Europe audit, new intermediates, and in-licensed Italian fillers = future EBITDA fuel.
Analyst Questions
Q:Gross margin down by 1.5% — what happened?A:“Product mix.” (Translation: The math works if you squint hard enough.)
Q:Why only 10% export growth?A:Tender season starts late; sales wake up in January. (Classic pharma timing.)
Q:Platins dragging margins?A:“They’re 7% of sales, but like rice in a thali — you can’t skip them.” 🍛
Q:Derma outlook?A:₹30–50 Cr target in 5 years. (Skin in the game, literally.)
Q:Biosimilars?A:“NDAs signed, can’t talk yet.” (Pharma code for “we’re flirting, not dating.”)
Guidance & Outlook
Beta aims for20–25% annual growth, with H2 expected to roar as tenders convert. Exports to double to ₹100 Cr
