BETA
Beta Drugs share price & financials
- Price
- ₹1,990.2
- Market cap
- ₹2.3k Cr
- Sector
- Healthcare
- Calls analysed
- 3
Beta Drugs Ltd Q4 FY26
What went well
- Net revenue grew from INR368 crores to INR396 crores, representing a 7.6% YoY increase.
- EBITDA grew from INR76.97 crores to INR86.85 crores, with EBITDA margins expanding from 21.1% to 22.57%.
- Branded sales showed strong growth of 20%, increasing from INR103 crores to INR123 crores.
What to watch
- Net profit margin declined from 11.71% to 10.78%, although management noted it would be above 12.5% excluding extraordinary expenses.
- Export sales declined by 11% from INR79 crores to INR71 crores, primarily due to tender delays.
What Beta Drugs Ltd does
Beta Drugs Limited manufactures and markets oncology and dermatology (cosmeceutical) formulations in India, sold under its own brands, while also acting as a contract development and manufacturing organisation (CDMO) producing oncology formulations for other large generic and formulation companies. It backward-integrates by manufacturing a large share of its own oncology API in-house through subsidiary Adley Lab Limited, and exports formulations to regulated and semi-regulated markets. In FY26 it acquired a majority stake in Nivian Lifesciences, extending the group into branded IVF/fertility pharmaceutical products distributed through gynaecologists, IVF labs and fertility clinics across India.
Segments
- Branded
- CDMO
- Exports
- API/Others
- Manufacturing facilities
- 3 (Baddi and Barotiwala, Himachal Pradesh; Derabassi, Punjab)
- Oncology product portfolio
- 135+ products
- Permanent employees
- 399
- Core export geographies
- LatAm, APAC, MENA, Africa, CIS
- Cumulative dossier registrations (core export markets)
- 280+
- Wholly-owned subsidiaries
- Adley Formulations Private Limited, Adley Lab Limited, Beta Research Private Limited
Guidance record · Q4 FY26
what the last two calls moved 13 tracked 2 delivered 4 missed 7 open- Derma Division Profitability delivered said Q4 FY25 Promised: Profit from Cosmetology division by September 2025 Q4 FY26: Confirmed that the Derma division has been EBITDA positive for the last 6 months of FY26.
- EBITDA Margin missed said Q4 FY25 Promised: Projected between 23% to 25% Q4 FY26: Achieved 22.57% for full year FY26, falling short of the 23-25% guided range.
- EU GMP Approval delayed said Q4 FY25 Promised: Audit expected between October and December 2025 Q4 FY26: Audit further delayed due to new EU rules. Now scheduled for September 2026 after dossier submission.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 26.0%, net profit up 33.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 180 | 88 | 94 | 100 | 103 −43% | 87 −1% | 94 +0% | 126 +26% |
| EBITDA | 39 | 18 | 17 | 20 | 21 −46% | 17 −6% | 18 +6% | 27 +35% |
| Net profit | 24 | 9 | 9 | 12 | 12 −50% | 9 +0% | 9 +0% | 16 +33% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +14.5% 1Y
1Y: ₹1,850.45 on 10 Sept 2025 → ₹2,118.5. High ₹2,668.3 (11 Aug 2026), low ₹1,030.3 (25 Feb 2026).
How the price took the results
close before → close after
- Q4 FY26
- −9.4%
- 15 May
- Q2 FY26
- −4.0%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹384 Cr |
| Operating profit | ₹76 Cr |
| Operating margin | 19.8% |
| Interest | ₹15 Cr |
| Depreciation | ₹17 Cr |
| Net profit | ₹42 Cr |
| Net margin | 10.9% |
| Cash from operations | ₹37 Cr |
| Free cash flow | ₹-16 Cr |
| ROCE | 19.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹59 Cr | ₹83 Cr | ₹113 Cr | ₹148 Cr | ₹211 Cr | ₹235 Cr |
| Borrowings | ₹17 Cr | ₹21 Cr | ₹20 Cr | ₹15 Cr | ₹146 Cr | ₹148 Cr |
| Other liabilities | ₹31 Cr | ₹45 Cr | ₹55 Cr | ₹82 Cr | ₹121 Cr | ₹103 Cr |
| Total liabilities | ₹118 Cr | ₹158 Cr | ₹198 Cr | ₹254 Cr | ₹488 Cr | ₹496 Cr |
| Fixed assets | ₹40 Cr | ₹55 Cr | ₹63 Cr | ₹65 Cr | ₹112 Cr | ₹125 Cr |
| Capital work in progress | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹74 Cr | ₹102 Cr | ₹135 Cr | ₹190 Cr | ₹376 Cr | ₹371 Cr |
| Total assets | ₹118 Cr | ₹158 Cr | ₹198 Cr | ₹254 Cr | ₹488 Cr | ₹496 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −7.63 pp while DIIs added +5.97 pp. The shareholder count grew 134% to 7,359.
- Promoters
- 59.1%
- FIIs
- 1.0%
- DIIs
- 6.2%
- Public
- 33.6%
Since Jun 2025
- Promoters −7.63 pp
- DIIs +5.97 pp
- Public +1.54 pp
How it drifted, 12 quarters
Over this window promoters fell from 66.7% to 59.1% — −7.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 66.7%, FIIs 0.3%, DIIs 0.0%, Public 32.9%.Dec '23: Promoters 66.7%, FIIs 0.3%, DIIs 0.0%, Public 32.9%.Mar '24: Promoters 66.7%, FIIs 0.3%, DIIs 0.1%, Public 32.9%.Jun '24: Promoters 66.7%, FIIs 0.9%, DIIs 0.1%, Public 32.3%.Sep '24: Promoters 66.7%, FIIs 1.2%, DIIs 0.2%, Public 31.9%.Dec '24: Promoters 66.7%, FIIs 1.1%, DIIs 0.2%, Public 31.9%.Mar '25: Promoters 66.7%, FIIs 0.9%, DIIs 0.2%, Public 32.2%.Jun '25: Promoters 66.7%, FIIs 0.9%, DIIs 0.3%, Public 32.1%.Sep '25: Promoters 66.7%, FIIs 0.9%, DIIs 0.3%, Public 32.1%.Dec '25: Promoters 64.9%, FIIs 1.1%, DIIs 1.9%, Public 32.1%.Mar '26: Promoters 64.6%, FIIs 1.2%, DIIs 2.1%, Public 32.1%.Jun '26: Promoters 59.1%, FIIs 1.0%, DIIs 6.2%, Public 33.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Healthquad Trust II VC / PE newly disclosed 4.09% held
- Inti Capital Vcc - Inti Capital I VC / PE newly disclosed 1.91% held
- Anjali Ajit Deval newly disclosed 1.13% held
The same filing shows 5 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Beta Drugs Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Neeraj Batra | 58.40% | −5.46 pp |
| Suryavanshi Commotrade Private Limited | 6.13% | −0.58 pp |
| Ashish Kacholia | 4.91% | −0.85 pp |
| Healthquad Trust II VC / PE | 4.09% | newly disclosed |
| Inti Capital Vcc - Inti Capital I VC / PE | 1.91% | newly disclosed |
| Airavat Capital Trust - Airavat Capital Trust Ii AIF | 1.60% | −0.08 pp |
| Bsas Infotech Limited . | 1.20% | −0.11 pp |
| Anjali Ajit Deval | 1.13% | newly disclosed |
| Rahul Batra | 0.38% | unchanged |
| Varun Batra | 0.31% | unchanged |
| Aditi Batra | 0.01% | unchanged |
| Heena Batra | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Beta Drugs Ltd
Guides on how to read this kind of business and the numbers that matter.