Beximco Pharma beats major peers in 9-month revenue growth

Beximco Pharmaceuticals PLC posted 13.1 percent year-on-year revenue growth in the first nine months of the just concluded fiscal year 2025-26, outpacing its peers, according to a BRAC EPL Stock Brokerage report released yesterday.

The company recorded Tk 4,142 crore in net revenue during July-March of FY26, up from Tk 3,662 crore a year earlier, the report stated.

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By comparison, over the same period, Square Pharmaceuticals posted 12.5 percent YoY revenue growth, and Renata PLC grew sales more than 6.5 percent, BRAC EPL said.

“Domestic sales remained the primary growth driver, expanding 14.4 percent year-on-year. Export revenue grew a modest 1.2 percent in this financial year from a year ago,” the brokerage said in its update.

Beximco contained its cost of goods sold, which rose 6.5 percent YoY, a gap that gave the company significant operating leverage, BRAC EPL said.

The pharmaceutical company published its financials after the Bangladesh Securities and Exchange Commission (BSEC) allowed it to hold a special board meeting to approve and release its outstanding financial reports.

The reports included the third-quarter statements for FY25, the audited annual report, and the first-, second- and third-quarter reports for FY26.

The move cleared the company’s reporting backlog of 15 months, allowing the London Stock Exchange to lift the suspension and resume trading of the global depositary receipts from June 26.

The pharmaceuticals maker had been unable to convene board meetings to approve and publish its financial statements due to ongoing legal proceedings before the High Court.

The company recorded a 32.7 percent YoY growth in profit after tax to Tk 694 crore in the first nine months FY26.

BRAC EPL said the earnings were driven by strong revenue momentum, disciplined direct cost management, and continued deleveraging.

The brokerage noted that Beximco Pharma had delivered 10.7 percent YoY revenue growth in FY25 despite operating under prolonged legal uncertainty throughout the year.