Shares of Balaxi Pharmaceuticals soared 10% in intraday trade on Friday, November 21, to ₹39.5 apiece, defying the broader weakness on Dalal Street. Though the stock rebounded sharply in today’s session, it is still down 11.50% so far in November.
The stock has been under severe selling pressure since May 2024, having closed 16 out of the following 18 months in the red, with February 2025 marking the biggest monthly drop of 21.51%, followed by October 2024, which saw a decline of 16%.
These deeper cuts have led the stock to lose 47.42% of its value so far this year, extending the previous years’ losses of 17% in CY24 and 29% in CY23. The continued fall has erased significant wealth for retail investors, who collectively owned 30.5% of the company’s shares at the end of the September quarter.
Promoters held the majority stake in the company at 66%, as per the BSE shareholding data.
Balaxi Pharmaceuticals’ September quarter performance
The company reported a weak performance in Q2 FY26, with revenue falling 27.4% year-on-year to ₹56.17 crore, while gross profit declined 18.3% to ₹27.14 crore. Despite the revenue drop, gross margin improved significantly by 540 bps to 48.3%.
However, EBITDA plunged 88.9% to ₹1.17 crore, leading to a sharp contraction in EBITDA margin to 2.1%, down 1,158 bps from last year.
Profit after tax dropped 95.4% to ₹0.21 crore, with PAT margin slipping to 0.4% from 5.9% in Q2 FY25. Earnings per share also fell steeply to ₹0.04, compared with ₹0.84 in the same period last year.
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