Blue Jet Healthcare Ltd share price target

Blue Jet Healthcare’s (BlueJet) Q3FY26 print was marred by gross profit margin volatility due to inventory destocking and lower bempedoic acid revenue.

Blue Jet Healthcare (BLUEJET) reported revenue of INR1.9b in 3QFY26, down 39% YoY, primarily due to pharma intermediate destocking and the timing of sales recognition (goods in transit of 3Q will be recognized in 4Q) in contrast media.

Blue Jet Healthcare (BLUEJET) reported revenue of INR1.7b, marking a decline of 21% YoY, primarily due to a higher proportion of goods remaining in transit, which led to delayed revenue recognition.

Blue Jet Healthcare (BlueJet)’s Q2FY26 print was impacted from a delay in revenue recognition in contrast media and lumpiness in the PI/API segment along with volatility in gross profit margin, making quarterlies non-representative and analysis difficult.

Blue Jet Healthcare (BLUEJET) reported an EBITDA of INR1.2b up 2.7x YoY (vs. our est. of INR1.5b), with a gross margin of 48.8% (vs. 54.9% in 1QFY25).

Blue Jet Healthcare (BLUEJET)’s 4QFY25 revenue jumped 85% YoY to INR3.4b, primarily driven by higher sales in Pharma Intermediates (PI).

Blue Jet Healthcare’s (BlueJet) Q2FY25 shows a ramp-up in contrast media as ABA HCL volumes normalise; the segment should see acceleration in growth with the commissioning of intermediate for NCE MRI molecule and iodinated.

Blue Jet Healthcare’s (BlueJet) Q1FY25 print was marred by logistic delays which restricted revenue recognition despite sharp jump in production by almost 40-50%.

Blue Jet Healthcare’s (BlueJet) Q4FY24 print was disappointing. The company’s performance was bogged down by a few factors, but mainly – the contrast media segment being hurt from lower supplies to its largest customer, and higher recognition of change in inventory denting margins.

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