Beta Drugs Limited (BETA) share price
₹1898.00 on NSE as of 2026-10-08. -4.69% on the day. market cap ₹2,104 Cr. P/E 29.1. 52-week range ₹1030.30 to ₹2668.30.
Beta Drugs Q1 FY27: Revenue Jumps 25% to ₹126 Cr as an IVF Business and a Bond Conversion Reshape the Company
At a glance
Beta Drugs makes and sells anti-cancer medicines. Consolidated sales in the three months to June 2026 were ₹125.55 crore. That is 25.3% above the ₹100.21 crore of the same quarter a year earlier. It is also 33.6% above the ₹93.96 crore recorded in the three months to March 2026. Operating profit, what the business earns before interest and tax, reached ₹27.37 crore. The same quarter a year earlier produced ₹19.70 crore. Net profit was ₹15.80 crore, against ₹11.70 crore. Operating margin for the quarter was 21.8%.
The corporate year around that quarter was busier than the profit statement shows. During the year to March 2026 the company issued ₹117 crore of compulsorily convertible debentures. Those are borrowings that must later turn into shares rather than be repaid in cash. They converted in May 2026. The company also bought 66.09% of Nivian Lifesciences for ₹69.4 crore. Nivian is a branded fertility and IVF drugmaker, valued in the deal at ₹105 crore including its debt. Its figures now form part of these consolidated accounts.
The full year reads flatter than the quarter. Sales for the year to March 2026 were ₹384.83 crore and net profit ₹41.48 crore. That sits slightly below the ₹42.42 crore of the year before. Earnings per share eased from ₹42.02 to ₹40.92. Management attributes the muted profit partly to finance costs on those debentures, and partly to a delay in export tenders.
Introduction
Beta Drugs makes oncology medicines, the drugs used to treat cancer. It manufactures at Baddi in Himachal Pradesh and at Dera Bassi in Punjab. The medicines go to the Indian market and to export markets. The company is ranked among the top ten oncology companies in India. Several of its products sit in the top five of their own categories.
The business runs on four streams. It manufactures under contract for other drug companies, a trade known as CDMO. It sells its own branded oncology range in India. It sells abroad. And it makes active pharmaceutical ingredients, the chemicals that do the work inside a finished medicine.
Beta Drugs was incorporated in 2005 and promoted by Vijay Batra. The Batra family manages it today. Two wholly owned subsidiaries were folded in later: Adley Formulations in 2019 and Adley Lab in 2020. Adley Lab brought the making of active ingredients in-house, so the company supplies more of its own raw material.
Two recent moves define the current chapter. The first is Nivian Lifesciences, announced in January 2026 and completed by May 2026. It carries Beta into drugs for in-vitro fertilisation, the laboratory treatment for infertility. Beta puts that market at around ₹2,000 crore and sees it growing at roughly 17% a year.
The second is a repositioning management calls Vision 2030, set out repeatedly in its commentary. Management intends to move the revenue mix away from lower-margin contract manufacturing. The weight shifts towards the company's own branded formulations and exports into regulated markets. The stated mix for the year to March 2030 puts branded sales at 51% and exports at 30%. Contract manufacturing falls to 13% under that plan. In the year to March 2026 branded sales were roughly 36% of revenue and contract manufacturing about 39%. Exports were around 18%.
Management guides for 20–25% consolidated revenue growth in the year to March 2027. It has framed that year as the one in which delayed export tenders finally ship.
Business model
Beta Drugs makes medicines that treat cancer, then sells them in four different ways. It is the corporate equivalent of opening a restaurant and also running the catering, the food truck and the meat wholesaler.
The contract arm makes oncology products for other drug companies, under their brands. More than 50 partners use it, among them Glenmark, Torrent, Reliance Life Sciences and Cadila. Management describes this as the lowest-margin of the company's businesses. It brought in around ₹149 crore in the year to March 2026 and grew about 1%. Vision 2030 plans to shrink it as a share of total revenue.
The domestic own-brand business sells oncology injections and tablets under names such as Canrib, Adcilib and Cazfila-OS. It reaches corporate and government hospitals, across more than 135 products. Branded oncology sales reached ₹123 crore in the year to March 2026, a rise of about 20%. Management notes that one brand has now crossed ₹10 crore. In the year to March 2021 no brand was above ₹5 crore; by March 2026 seven were.
The international business covers 46 countries, including Uzbekistan, Nigeria, Kenya and Sri Lanka. It is built on product registrations and on public tenders, which are government buying contracts awarded by bid. The active ingredients arm supplies the chemicals that do the work inside the finished medicine. The company says it meets around 70–80% of its own formulation needs for those ingredients in-house.
A newer limb is dermatology and cosmeceuticals, skin products sold on a cosmetic counter rather than a pharmacy shelf. That stream did ₹16.6 crore in the year to March 2026, a rise of about 35%. It rests on exclusive European tie-ups for fillers and mesotherapy, both injected skin treatments. Fertility drugs join the list through Nivian.
Beta Drugs began as an anti-cancer specialist and now sells in dermatology and fertility as well.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Beta Drugs Limited.