Blue Jet Healthcare shares rallied over 6% in early trade on May 26 after the company reported a sequentially strong Q4FY26 performance and received positive commentary from brokerage firm Emkay.
The stock was trading at ₹511.85 on the NSE at the time of publishing this article.
Brokerage firm Emkay maintained its ‘Reduce’ rating on the stock but raised the target price to ₹450 from ₹400 following the Q4 results. The brokerage noted that Blue Jet Healthcare’s Q4FY26 EBITDA came in nearly 20% ahead of estimates, supported by a sharp uptick in contrast media intermediate (CMI) sales and higher gross margins.
Emkay also said CMI sales are expected to remain well ahead of expectations in FY27, while pharma intermediates business could see a sharp recovery during the year. The brokerage, however, maintained a cautious stance due to volatility in both core business segments, though it raised FY27E and FY28E EPS estimates by around 12% and 7% respectively.
Blue Jet Healthcare reported a strong sequential recovery in profitability during Q4FY26. Revenue stood at ₹235 crore, up 21.96% quarter-on-quarter from ₹192 crore. EBITDA rose nearly 52% QoQ to ₹71 crore compared to ₹47 crore in the previous quarter, while EBITDA margin improved sharply to 30.37% from 24.37%, an expansion of around 600 basis points.
Profit after tax (PAT) also increased 60.2% sequentially to ₹64 crore against ₹40 crore in Q3FY26. Earnings per share (EPS) came in at ₹3.71 versus ₹2.32 in the previous quarter.
On a year-on-year basis, however, the company’s performance remained under pressure. Revenue declined 31.07% YoY from ₹340 crore, while EBITDA fell 49.08% YoY from ₹140 crore. PAT dropped 41.56% compared to ₹110 crore in Q4FY25.
For the full FY26, Blue Jet Healthcare reported revenue of ₹947 crore, down 8.03% YoY. EBITDA for the year stood at ₹294 crore, declining 22.14%, while PAT fell 18.8% to ₹247 crore.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.