Bharat Parenterals Ltd — earnings calls

Bharat Parenterals reported consolidated FY26 revenue of INR345.4 crores, roughly flat year-on-year, with consolidated EBITDA rising to INR15.8 crores from INR2.7 crores, driven mainly by a narrowing of losses at subsidiary Innoxel Lifesciences. Standalone BPL revenue declined about 23% due to deferred export tenders, exit from low-margin business, and production line upgrades, while Varenyam Healthcare turned profitable with 13.7% revenue growth and Innoxel grew revenue 174.1% on licensing and milestone income. Management issued FY27 guidance across its three operating businesses and described FY26 as a transition year ahead of an expected commercial inflection.