Blue Jet Healthcare jumps after broker initiates 'buy' rating

The broker cited a favourable outlook supported by the company's ability to scale up high-margin products and secure more long-term contracts, which could potentially enhance both growth and valuations.

The brokerage noted that Blue Jet's advanced research and development capabilities, along with its backward integration and expertise in complex chemistries, position it well to serve both regulated and emerging markets. These factors, it said, place the company at the forefront of delivering high-value pharma solutions.

Looking ahead, the brokerage expects Blue Jet's revenue growth to be fueled by its pipeline of new products in iodinated and gadolinium contrast media, novel chemical entity (NCE) intermediates, and innovations in high-intensity sweeteners.

Blue Jet Healthcare is a specialty pharmaceutical and healthcare ingredient and intermediate company, operating under a contract development and manufacturing organization (CDMO) business model. The company has specialized chemistry capabilities in contrast media intermediates and high-intensity sweeteners.

On a standalone basis, net profit of Blue Jet Healthcare soared 208.25% to Rs 98.98 crore while net sales climbed 90.92% to Rs 318.38 crore in Q3 December 2024 over Q3 December 2023.

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