Blue Jet Healthcare Ltd. (BJHL) is a specialized pharmaceutical and healthcare ingredients company, catering to both innovator and generic pharmaceutical companies. Established in 1968, it focuses on contract development and manufacturing, excelling in chemistry capabilities like contrast media intermediates and high-intensity sweeteners. Financially, BJHL has shown consistent growth, with FY24 Q1 net profit at Rs. 44.12 cr. on total income of Rs. 184.60 cr. Despite fluctuations in raw material prices affecting bottom-line consistency, its average EPS stands at Rs. 9.44 and RoNW at 30.01%. Priced at a P/BV of 8.27, BJHL offers niche products and aims for listing gains through a purely secondary offering. While fully priced based on FY24 earnings, it holds potential for long-term rewards, attracting investors seeking first-mover advantage in the pharmaceutical market.