Blue Jet Healthcare Limited · NSE:BLUEJET
Blue Jet Healthcare — Q2 FY26 Earnings Presentation
39 slides from Blue Jet Healthcare's earnings presentation, Nov 4, 2025
Slide 1: Stock exchange filing cover letter
November 4, 2025 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejebhoy Towers “Exchange Plaza” Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400051 Scrip Code (BSE): 544009 Symbol: BLUEJET Sub: Analysts/Investors Presentation on Financial Results for
Slide 2: Investor Presentation Q2 & H1 FY26
Investor Presentation Q2 & H1 FY26 1
Slide 3: Disclaimer
Disclaimer The Presentation is to provide the general background information about the Company’s activities as at the date of the Presentation. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any i
Slide 4: Table of Content
Table of Content 1 Q2 & H1 FY26 Financials 2 Company at a Glance 3 Contrast Media Intermediates 4 High Intensity Sweeteners 5 Pharma Intermediates & API 6 R&D Capabilities 7 Growth Strategy 8 Management and Board of Directors 3
Slide 5: Q2 & H1 FY26 Financials
‘| Q2 & H1 FY26 Financials ~ @ in 4 Gs aS Aw, Lys l >» gl sing Bi 2 v ‘ uff
Slide 6: Q2 FY26 Earnings Highlights
Q2 FY26 Earnings Highlights Financial Highlights ✓ Revenue from Operation in Q2 FY26 stood at Rs.1,655 mn, EBITDA stood at Rs. 549 mn (33% Margin) and PAT at Rs. 521 mn (32% Margin). ✓ Revenue from Operation in Q1 FY26 was Rs. 3,548 mn, EBITDA stood at Rs. 1,210 mn (34% Margin) and PAT at Rs. 912 mn
Slide 7: H1 FY26 Earnings Highlights
H1 FY25 Earnings Highlights Financial Highlights ✓ H1 FY26 Revenue from Operation stood at Rs. 5,202 mn, EBITDA at Rs. 1,759 mn (34% Margin) and PAT at Rs. 1,433 mn (28% Margin) ✓ H1 FY25 Revenue from Operations was Rs. 3,712 mn, EBITDA at Rs. 1,137 mn (31% Margin) and PAT at Rs. 961 mn (26% Margin)
Slide 8: Q2 & H1 Earnings Highlights: Business Updates
Q2 & H1 FY25 Earnings Highlights Business Updates ✓ New Product launched - Iodinated based advance contrast media intermediate dispatched during July 25. ✓ NCE -Contrast media for MRI Segment is reporting robust growth in regulated markets leading to a strong Order Book ✓ RFPs for new products: New
Slide 9: Q2 FY26 vs Q2 FY25 Financial Performance
Q2 FY26 Vs Q2 FY25 Financial Performance – Key Metrics Revenue from Operations** – Growth Trends (Rs Mn) YoY 7.4% -28.8% -27.1% 154.2% -20.6% Growth: Q2 FY25 Q2 FY26 2,071 1,644 1,134 807 596 434 316 340 25 63 High-intensity sweetners Contrast media intermediates Pharma intermediates and API Others*
Slide 10: H1 FY26 vs H1 FY25 Financial Performance
H1 FY26 Vs H1 FY25 Financial Performance – Key Metrics Revenue from Operations** – Growth Trends (Rs Mn) YoY 3.4% 0.0% 113.1% 247.6% 40.5% Growth: H1 FY25 H1 FY26 5,181 3,689 2,554 1,779 1,779 1,198 666 689 46 159 High-intensity sweetners Contrast media intermediates Pharma intermediates and API Oth
Slide 11: Profit and Loss Statement
Profit and Loss Statement Particulars (Rs. Mn) Q2 FY26 Q1 FY26 QoQ Q2 FY25 YoY H1 FY26 H1 FY25 YoY Revenue from Operations 1,655 3,548 -53.4% 2,083 -20.5% 5,202 3,712 40.2% Cost Of Goods Sold 579 1,829 895 2,408 1,633 Gross Profit 1,076 1,719 -37.4% 1,187 -9.4% 2,795 2,078 34.5% Gross Margin 65.0% 4
Slide 12: Financial Performance over the years – Key Metrics
Financial Performance over the years – Key Metrics Revenue from Operations** – Growth Trends (Rs Mn) CAGR: 3.4% 7.8% 82.4% 269.2% 26.2% 10,243 7,185 7,084 6,768 4,778 5,070 4,799 4,942 5,181 4,622 3,536 4,039 2,554 1,575 1,759 1,282 1,335 1,779 987 689 418 412 340 947 1.33 3 16 55 247 159 High-inten
Slide 13: Financials for the last five years
Financials for the last five years Summary Statement of Profit and Loss Summary Statement of Assets and Liabilities Particulars (Rs. Mn) FY21 FY22 FY23 FY24 FY25 H1FY26 Particulars (Rs. Mn) FY21 FY22 FY23 FY24 FY25 H1FY26 I. Assets Revenue from Operations 4,989 6,835 7,210 7,116 10,300 5,202 Propert
Slide 14: Shareholder Information
Shareholder Information Shareholding as on 30th September 2025 Share Information as on 30th September 2025 NSE Ticker BLUEJET Others BSE Ticker 544009 14.7% Market Cap (INR Cr) (BSE) 10,934 DII 3.6% % free-float 20.2% FII 1.8% Free-float market cap (INR Cr) 2,207 Cash & Cash Equivalents + Treasury 3
Slide 15: Company at a Glance
. » gf Z 4 Company ata > ata Glance v SS 2
Slide 16: Our Journey
Our Journey • Established Jet Chemicals • Began manufacturing high- • Entered the X-ray contrast Private Limited with Shahad intensity sweeteners - media sector, with a basic facility (Unit I) saccharin and its salts building block (5- NIPA) 1968 1970 2000 • Commenced semi- automated manufacturing •
Slide 17: Who we are
Who we are A specialty pharmaceutical and healthcare ingredient and intermediate company, offering niche products with an approach of “Collaboration, Development, Manufacturing” to CDMO business. 16
Slide 18: Blue Jet Healthcare at a glance
Blue Jet Healthcare at a glance 511 1,177.9 KL INR 10,299.9 mn INR 3,777.3 mn Commercialized product reaction capacity across Revenue (FY25) (19.9% EBITDA (FY25) (36.7% portfolio (FY25) 3 facilities (FY25) FY21-25 CAGR) margin) Key metrics INR 2,848 mn 3.97x 35.8% 30.9% Cash and Cash Equivalents + F
Slide 19: Overview of our Product Categories
Overview of our Product Categories Contrast Media High Intensity Pharma Intermediates Intermediates Sweeteners & APIs ◼ Contrast media are agents used in medical ◼ High-intensity sweetener business involves ◼ Collaboration with innovator pharmaceutical imaging to enhance the visibility of body tissu
Slide 20: Contrast Media Intermediates
3 Contrast Media Intermediates 19
Slide 21: Overview of Contrast Media and its growth drivers
Overview of Contrast Media and its growth drivers What is contrast media? Types of contrast media ◼ Chemical agents that enhances the contrast of an imaging ◼ X-ray / Computed Tomography (CT) contrast agents: Iodine- modality in diagnostic imaging, thereby aiding diagnosis of based contrast media ag
Slide 22: The global Contrast Media industry is highly concentrated
The global Contrast Media industry is highly concentrated Highly concentrated and dominated by multi-national corporations Player 1 Others 17% 25% Global Forecast US$9.7bn By 2029 Player 2 Collectively hold ~75% of the global sales of contrast 20% Player 4 (CAGR: 7.5%) media formulations1 11% Player
Slide 23: High entry barriers for key intermediates' vendors
High entry barriers for key intermediates’ vendors Characteristics of the Contrast Media Intermediate Blue Jet's positioning Contrast Media market product category performance ✓ More than two decades of experience CAGR: 3.4% ✓ 75%+ of exports of a selected contrast media Strict internal standards in
Slide 24: Key benefits
Continue to forward integrate into more advanced intermediates for Contrast Media Strong product development and process optimization capabilities underpinned by in-house R&D capabilities Capture larger wallet share with existing customers Focus on molecules with customer interest and strategy in ei
Slide 25: High Intensity Sweeteners
4 High Intensity Sweeteners 24
Slide 26: Blue Jet's positioning in High Intensity Sweetener
Blue Jet’s positioning in High Intensity Sweetener Blue Jet's positioning High Intensity Sweeteners product category performance Products ◼ Adherence to strict internal standards to ensure consistency in quality, performance, CAGR: 7.8% taste, and impurity profile Revenue (INR mn) ◼ Multiple product
Slide 27: Pharma Intermediates & API
5Pharma Intermediates & API 26
Slide 28: Trends and features of the Pharma Intermediates and APIs Product Category
Trends and features of the Pharma Intermediates and APIs Product Category Key trends in Pharma Intermediates and CDMO market Revenue and capacity utilization predictability Increased propensity to outsource manufacturing of intermediates & APIs for the CDMO ◼ Enables asset light model and ability to
Slide 29: Overview of Blue Jet's Pharma Intermediates and APIs Product Category
Overview of Blue Jet’s Pharma Intermediates and APIs Product Category Pharma Intermediate and APIs ◼ Commenced manufacturing pharma intermediates two decades ago, leveraging the customer relationships through high-intensity product category performance sweetener business ◼ Key focus areas include hi
Slide 30: Leverage long-standing customer relationships to enter adjacencies in pharma intermediates and API
Leverage our long-standing customer relationships to continue entering adjacencies in the pharma intermediate and API category Focus on three niche areas in providing CDMO services Blue Jet’s positioning Investigational new drugs and new chemical Leverage long-standing relationships with innovator e
Slide 31: R&D Capabilities
6 R&D Capabilities 30
Slide 32: Our R&D framework
Our R&D framework R&D capabilities across Process research Portfolio Process Process scale-up Regulatory filings evaluation development and validation and approvals Analytical research Chemistry research Method Characterization of Polymorphism Pharmaceutical salt High pressure Literature search deve
Slide 33: Sustainability
Sustainability Various initiatives on energy efficiency, renewable energy, and water conservation to reduce carbon footprint Invested in windmills with installed capacity of 3.3MW Created carbon sinks Focus on enhancing through tree plantations energy efficiency Effluent treatment plants with Minimi
Slide 34: Growth Strategy
ly. 7 Fe Growth Strategy
Slide 35: Our strategies
Our strategies Focus on operational efficiency and mitigation of supply chain risks Continue to forward integrate into Continue to invest in R&D more advanced intermediates for infrastructure and capabilities Contrast Media Leverage our long-standing Build additional production capacity customer rel
Slide 36: Management and Board of Directors
8 Management and Board of Directors 35
Slide 37: Experienced and visionary management team backed by independent Board of Directors
Experienced and visionary management team backed by independent - Board of Directors Management team Akshay Bansarilal Shiven Akshay Naresh Suryakant Shah Ganesh Vimalendu Kumar Singh Chandrashekar Parenky Arora Arora Executive Director, Head Karuppannan (V.K. Singh) President – Research and Executi
Slide 38: Management team and independent board of directors (cont'd)
Experienced and visionary management team backed by independent Board of Directors (cont’d) Management team (cont’d) Independent board of directors Popat B Kedar Sweta Poddar Girish Paman Preeti Gautam Divya Sameer Priyanka Yadav Executive Director Company Secretary and Vanvari Mehta Momaya Independ
Slide 39: Thank you!
Thank you! BLUE JET HEALTHCARE LIMITED INVESTOR RELATIONS AT Registered Office Blue Jet Healthcare Limited 701,702, 7th Floor, Bhumiraj Costarica, Sanjay Sinha, Deputy Chief Financial Officer Sector 18, Sanpada, Navi Mumbai Thane sanjay.sinha@bluejethealthcare.com 400705, Maharashtra, India NSE: BLU