Beta Drugs Ltd(BETA)

NSE: BETA

₹ 1,896-3.81%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,109 crWebsite: www.betadrugslimited.comUpdated: 23 Oct 2026

About

Beta Drugs Ltd is an India-based oncology pharmaceutical company that manufactures and markets branded formulations, contract-manufactures for third-party pharma companies (CDMO), exports to 30+ countries, and produces oncology APIs. The company reported FY26 revenue of Rs. 384.83 crores and operates two manufacturing plants in India. In April 2026 it added an IVF specialty vertical through the acquisition of a 66.1% stake in Nivian Lifesciences.^[1]

Business segments

Branded oncology formulations: INR 123 crores in FY26, up 20% from INR 103 crores in FY25; EBITDA margin of 35 - 36%.^[2]
Branded oncology sales grew 47% YoY to INR 330 Mn in Q1 FY27, on existing products and acceptance of last year's launches.^[3]
Contract manufacturing (CMO) grew 41% YoY in Q1 FY27 on customer traction and new launches including proprietary NDDS products.^[3]
Export formulations: INR 71 crores in FY26, down 11% from INR 79 crores in FY25; exports were INR 172 Mn in Q1 FY27.^[2][3]
API business: INR 25 crores in FY26, up ~25% from INR 20 crores in FY25.^[2]
Derma/Cosmetology (Inspira): INR 16.58 crores in FY26, up 35% from INR 12.3 crores in FY25; turned EBITDA positive on a net monthly basis in H2 FY26.^[2]
Nivian (IVF), 66.09% owned and consolidated from FY27, grew 45% YoY in Q1 FY27.^[3]

Products and brands

Oral therapy contributed 48% of branded oncology sales in FY25; six brands were on track to cross Rs. 5 crores each in FY26.^[4]
One branded oncology product crossed INR 10 crores in annual sales in FY26; Caxfila OS Suspension was approaching Rs. 10 crores in H1 FY26.^[2]
Two NDDS formulations launched in FY26; the company holds a first-in-India DCGI approval for Methotrexate oral solution NDDS.^[2]
Cosmetology portfolio includes an in-licensed Italian dermal filler (Promoitalia) and European mesotherapy/filler products under exclusive tie-ups.^[5]
280 dossiers registered as of FY26; ~100 new export registrations expected in FY27.^[3][2]

Manufacturing and operations

Two formulation plants: the Beta Drugs plant is reserved for regulated-market exports; the Adley plant serves domestic branded and CDMO volumes.^[5]
70% of APIs for the company's formulations are manufactured in-house (FY25 annual report).^[6]
API plant cleared PIC/S audit in FY26, opening API exports to Mexico and other PIC/S member nations.^[2]
Oncology intermediate facility acquired for Rs. 9.45 crores near the API plant; INR 15 - 17 crores invested in plant and machinery to reduce China KSM dependency.^[5]
Peak revenue capacity from the existing asset base estimated at INR 700 - 800 crores; two additional Lyo units to be installed.^[2]

Key operating numbers

Gross margin: 56.6% in Q1 FY27 vs 50.4% in Q1 FY26, on a shift toward branded and export business.^[3]
Gross margin: 55.52% in FY26 vs 52.71% in FY25.^[2]
Cosmetology prescriber base grew from 1,200 to 2,600 between FY24 and FY25; PCPM rose from Rs. 75,000 to Rs. 1.25 lakh.^[4]

Customers and distribution

Exports reach 30+ countries as of FY26; expansion to ~45 countries planned by adding 14 new markets.^[2]
FY25 standalone sales: domestic Rs 1,56,40,53,477.43 and exports Rs 63,79,42,899.08.^[6]
COFEPRIS (Mexico) audit cleared without critical observations; 16 dossiers filed, 15 more in pipeline.^[5]
~30 active CDMO partners as of FY25; 3 new clients added in FY25.^[4]
Ranks among the top 10 oncology companies in India, per the FY25 annual report.^[6]

Expansion and capex

Acquired 66.1% of Nivian Lifesciences (IVF) for INR 69.4 crores at an INR 105 crore valuation; Nivian had FY26 revenue of ~INR 45 - 46 crores. Closed April 2026.^[2]
Total capex capped at not more than INR 25 crores over FY27 - FY28.^[2]
Intermediate/API plant to be commercialised in FY27; expected to add 100 - 150 bps to consolidated margins.^[2]
EU GMP audit scheduled for the first week of September 2026 after three dossiers filed.^[2]
Pipeline of NDDS and first-to-launch products planned across FY27 and FY28; Vision 2030 targets over 50% of revenue from own branded products.^[3]

Recent developments

Azerbaijan oncology regulatory approvals received as of September 2026; 15 dossiers filed with 15 more expected.^[7]
Management guided FY27 consolidated revenue growth of 20-25% (Q1 FY27 call).^[3]
CCDs to be converted to equity in May 2026 at INR 1,643 per share, removing INR 9.36 crores of annual CCD interest from FY27.^[2]
Migrated to the NSE main board in November 2025.^[5]
FY26 annual report proposes re-appointing the statutory auditor for a second two-year term at Rs 4,20,000 a year.^[8]

Market Cap

₹2,109 Cr

High / Low

₹2,808 / 990

Stock P/E

48.2

Price / Book

8.2

Book Value

₹241

EPS

₹40.9

No. of Shares

1.01 Cr

ROCE

19.3%

ROE

18.8%

OPM

17.6%

Debt / Equity

0.60

Sales

₹385 Cr

Net Profit

₹41 Cr

Promoter holding

58.9%

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