Bajaj Healthcare’s CFO Dayashankar Patel resigns, cites personal reason

Bajaj Healthcare Chief Financial Officer (CFO) Dayashankar Patel has resigned, the Indian pharmaceutical company said in a regulatory filing on Wednesday.

Patel has stepped down citing personal reasons and there is no material reason for the resignation, according to the disclosure.

Patel would be relieved from his duties starting from April 16, 2025.

“...this is to inform you that Mr. Dayashankar Patel, has tendered his resignation from the position of Chief Financial Officer (‘CFO’), Key Managerial Personnel (KMP) of the Company due to personal reasons & he will be relieved from his duties after the closing of office hours of April 15, 2025. The Company appreciates the valuable services tendered by him during his tenure,” the filing stated.

Patel was appointed as the CFO of the company in May 2024.

The company announced the resignation after market hours. Bajaj Healthcare Limited shares ended 0.84% down at ₹667.25 apiece on the NSE on Wednesday, April 2. The market capitalisation of Bajaj Healthcare stands at ₹2,107.39 crore.

Bajaj Healthcare is a leading pharma major engaged in the manufacturing of APIs, intermediates and formulations with a strong presence throughout the world. The company exports its APIs to over 50 countries.

Bajaj Healthcare Q3 FY25 results

For the October-December quarter of the previous fiscal year (Q3 FY25), Bajaj Healthcare posted a net profit of ₹11.7 crore as against a ₹2.2 crore net loss in the year-ago period. The company’s revenue from operations surged by 13.1% year-on-year (YoY) to ₹122.8 crore in the December quarter as compared to ₹108.6 crore in Q3 FY24 on the back of firm demand for its active pharmaceutical ingredients (APIs) and bulk drugs.

Bajaj Healthcare reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of ₹21.7 crore in Q3 FY25 as against ₹19.6 crore in the year-ago quarter, marking a 10.7% jump. Its EBITDA margin for the reporting quarter stood at 17.7%, marginally lower from 18.1% in the year-ago period.