The board of Blue Jet Healthcare has approved a proposal to raise up to ₹10,000 crore through various equity-linked instruments. According to reports from Business Standard, the approval was granted at a board meeting held on 25 May 2026. The fund raising initiative encompasses multiple equity-based instruments designed to provide flexibility in capital raising strategies, with the company now targeting ₹10,000 crore instead of the previously reported ₹1,000 crore. The fundraise may be executed through a qualified institutional placement, rights issue, or other permissible routes, subject to shareholder and regulatory approvals.
The approved fund raising mechanism includes fully paid-up equity shares, fully or partly convertible debentures, and various other equity-based instruments or securities. As reported by Business Standard, the proposal also covers convertible preference shares of any kind or type, along with other financial instruments and securities that are convertible into and/or linked to equity shares. The structure allows for both cash-based and convertible instruments to maximize fund raising flexibility. The issuance may be conducted via public issues, preferential issues, private placements, or Qualified Institutions Placements (QIP), subject to necessary regulatory and shareholder approvals.
The capital raise announcement came alongside quarterly results that showed significant pressure on both revenue and profitability. Revenue from operations fell 31.1% year-on-year to ₹2,347 million in Q4 FY26 from ₹3,404 million in the same quarter last year. Net profit dropped 41.6% to ₹643 million from ₹1,101 million in Q4 FY25. Total income declined 26.9% to ₹2,575.9 million from ₹3,526.7 million year-on-year. Basic EPS fell 41.6% to ₹3.71 from ₹6.35 in the corresponding quarter of the previous year. EBITDA for the quarter stood at ₹713 million with a margin of 30.4%.
For the full year FY26, revenue from operations stood at ₹9,473 million against ₹10,300 million in FY25, representing an 8% decline year-on-year. Full-year net profit came in at ₹2,478 million, down 18.8% from ₹3,052 million in FY25. Total income for FY26 was ₹10,160 million compared to ₹10,762 million in FY25, marking a 5.6% decrease. EBITDA for the full year was ₹2,941 million compared to ₹3,777 million in FY25. Basic EPS for the full year was ₹14.29 versus ₹17.59 in the previous fiscal year, reflecting an 18.8% decline. The drop in profitability was attributed to increased operational costs and finance costs, which rose to ₹62 million from ₹1 million in the previous year.
The board has recommended a final dividend of ₹1.2 per equity share (60%) for the financial year ended March 31, 2026, subject to shareholder approval at the Annual General Meeting. The proposed fundraise, if executed, would significantly bolster Blue Jet Healthcare's balance sheet at a time when earnings have come under pressure across both quarterly and annual horizons. Blue Jet Healthcare is a specialty pharmaceutical company focused on contrast media and other high-value active pharmaceutical ingredients. The company's board approval provides flexibility for various equity-linked instruments including convertible preference shares, debentures, and other securities that can be converted into equity shares, allowing for both cash-based and convertible instruments to maximize fund raising flexibility.
