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Jagsonpal Pharmaceuticals Results: Latest Quarterly Results & Analysis

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Jagsonpal Pharmaceuticals Ltd. 28 Apr 2026 12:42 PM
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Q4FY26 & FY26 Result Announced for Jagsonpal Pharmaceuticals Ltd.

Pharmaceuticals company Jagsonpal Pharmaceuticals announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue from Operations: Rs 642 million in Q4FY26, representing a YoY increase of 9.6% compared to Rs 586 million in Q4FY25.
  • EBITDA (Excluding ESOP Cost): Rs 106 million in Q4FY26, representing a YoY increase of 8.9% compared to Rs 97 million in Q4FY25.
  • Other Income: Rs 32 million in Q4FY26, representing a YoY increase of 14.4% compared to Rs 28 million in Q4FY25.
  • Profit Before Tax (PBT): Rs 118 million in Q4FY26, representing a YoY increase of 31.8% compared to Rs 89 million in Q4FY25.
  • Profit After Tax (PAT): Rs 88 million in Q4FY26, representing a YoY increase of 33.0% compared to Rs 66 million in Q4FY25.
  • Cash and Cash Equivalents: Rs 1,907 million as of March 31, 2026, representing a QoQ increase of 8.5% compared to Rs 1,757 million as of December 31, 2025, and a YoY increase of 31.0% compared to Rs 1,456 million as of March 31, 2025.

FY26 Financial Highlights:

  • Revenue from Operations: Rs 2,872 million for FY26, representing a YoY increase of 6.9% compared to Rs 2,687 million in FY25.
  • EBITDA (Excluding ESOP Cost): Rs 609 million for FY26, representing a YoY increase of 5.2% compared to Rs 579 million in FY25.
  • Other Income: Rs 120 million for FY26, representing a YoY increase of 46.5% compared to Rs 82 million in FY25.
  • Profit Before Tax (PBT): Rs 596 million for FY26, representing a YoY increase of 18.8% compared to Rs 502 million in FY25.
  • Profit After Tax (PAT): Rs 431 million for FY26, representing a YoY decrease of 22.2% compared to Rs 554 million in FY25 (Note: FY25 PAT included a significant exceptional gain of Rs 179 million).
  • Free Cash Flow (FCF): Rs 614 million for FY26, representing a YoY increase of 3.5% compared to Rs 593 million in FY25.
  • Dividend: The Board recommended a dividend distribution of 200% (Rs 4 per equity share of Rs 2 each), including a 75% special dividend, totaling a cash outlay of ~Rs 262 million.
  • Proposed Buyback: Approved a buyback of up to 16 lakh equity shares (2.4% of total equity) at Rs 250 per share with a total outlay of Rs 40 crore.

Business Highlights:

  • Market Growth Performance: The company grew 22.2% in March 2026, more than double the Indian Pharmaceutical Market (IPM) growth rate of 10.1%.
  • Brand Performance: The "Top 10" brands contribute approximately 58% of total revenue. 9 of these brands are ranked within the "Top 5" in their respective molecule categories.
  • Therapy Rankings: Jagsonpal is ranked #8 in Corporate CVM (as per CMARC RPM). It holds the #2 rank in Orthopedics and #7 in Gynecology.
  • Asset Light Model: The company continues to operate an asset-light model, outsourcing capital-intensive activities such as R&D and manufacturing to focus on ideation and pan-India distribution.
  • Financial Discipline: Maintained a debt-free balance sheet with a strong cash position of Rs 191 crore as of the end of the fiscal year.
  • Corporate Social Responsibility (CSR): Under the "MySakhi" initiative, 18 "pink toilets" have been built across Haryana, Punjab, Uttarakhand, and Delhi NCR to support women's hygiene and dignity.

Manish Gupta, Managing Director and CEO, Jagsonpal Pharmaceuticals, said: "Our business regained traction in Q4 with growth of 10% on strength of sharper strategic execution. This is reflecting in our industry outpacing performance, with Pharmarack reflecting a 12.2% growth for Jagsonpal as compared to IPM growth of 8.6%. Our ‘Top 10’ brands which account for ~58% of revenues continue to drive performance.

Our yearly revenues grew 7% while our operating net profit grew 19% in the same period, with the year closing with a healthy cash position of Rs 191 crore.

The Board has recommended a dividend of 200% (including a special dividend of 75%) for FY26. We will shortly be launching the proposed Rs 40 crore buy-back at Rs 250 per share as we received shareholder approval today. These shareholders-centric actions are reflective of our confidence in growth momentum of business in FY27 and beyond, with continued strong cash generation and improving ROCE/ROE.

We are confident of continued acceleration on all parameters given our focus on organic growth through improved MR productivity, strengthening key brands, and launching strategic new products, even as we look for value-accretive inorganic opportunities."

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Pharmaceuticals company Jagsonpal Pharmaceuticals announced Q2FY26 results

  • Revenue for Q2FY26 stood at Rs 745 million, remaining steady amid GST transition adjustments, maintaining stability on a high base.
  • Operating EBITDA stood at Rs 181 million with margins of 24.3%.
  • Profit rose to Rs 126 million in Q2FY26, with margins expanding 154 bps to 16.9%.
  • Healthy cash balance of Rs 1,604 million as of September 30, 2025, post dividend of 125% (Rs 2.5 per share) leading to a payout of Rs 166 million.

Manish Gupta, Managing Director, Jagsonpal Pharmaceuticals, said: “We are pleased to report a resilient performance reflecting our continued focus on sustainable growth and operational excellence.

The first half of FY26 marked a strong showing, with revenue rising 10.2% YoY to Rs 1,501 million, EBITDA (pre-ESOP) grew 8.8% YoY to Rs 338 million, and PAT witnessing a 39.2% YoY increase to Rs 234 million. This performance underscores our consistent execution, disciplined cost management, complementing the inherent strength of our diversified portfolio.

We welcome GST 2.0- a step towards affordable healthcare. With our “Patient First” approach, we have fully passed the benefits through reduced prices. The transition led to temporary moderation in sales and trade movement. Despite this, revenue for Q2FY26 stood at Rs 745 million, Operating EBITDA at Rs 180 million with PAT growing 9.7% YoY to Rs 126 million.

We have strengthened the leadership team by onboarding Amrut Medhekar as Chief Operating Officer and Nirav Vora as Chief Financial Officer who will play a key role going forward. We continue to build our brands and uphold a legacy built on trust, quality, and integrity, fostering lasting relationships with our stakeholders who remain at the heart of our growth journey.”

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Pharmaceuticals company Jagsonpal Pharmaceuticals announced Q1FY26 results

  • Revenue stood at Rs 756 million, up 23.1% year-on-year
  • Operating EBITDA came in at Rs 157 million, rising 24.1% YoY
  • EBITDA margin was 20.8%, expanding by 17 bps YoY
  • ESOP cost was Rs 15 million, down 38.9% from Q1FY25
  • PAT stood at Rs 108 million, with a margin expansion of 562 bps YoY

Commenting on the performance for the quarter, Manish Gupta, Managing Director and CEO, Jagsonpal Pharmaceuticals said, “We have started FY 26 on a strong note with growth across all parameters. While our Revenue grew 23.1% to Rs 756 million, operating EBITDA was at Rs 157 million, up by 24.1%. The continued scale up is an outcome of our disciplined and effective execution of our strategy.

Net profit for the quarter more than doubled to Rs 108 million, with addition of another Rs 153 million of free cash, which stood at Rs 1609 million as on 30th June 2025.

We further strengthened our position to #7 in the Gynae CVM rankings, reinforcing our leadership in the category.

We expect the growth momentum to continue as we deepen our presence in the domestic pharmaceutical market coupled with prudent use of free cash to look for a strategically suitable inorganic opportunity.“

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Pharmaceuticals company Jagsonpal Pharmaceuticals announced Q4FY25 results

  • Revenue: Rs 586 million compared to Rs 435 million during Q4FY24, change 34.7%.
  • EBITDA: Rs 97 million compared to Rs 49 million during Q4FY24, change 96.6%.
  • EBITDA margin: 16.6% for Q4FY25.
  • PAT: Rs 66 million compared to Rs 35 million during Q4FY24, change 85.5%.

Manish Gupta, Managing Director and CEO, Jagsonpal Pharmaceuticals, said: “We are pleased with our FY25 performance, which underscores the strength of our strategy and execution. Revenue grew 29% to Rs 2,687 million, while operating EBITDA rose 59% to Rs 579 million, driven by a 410 bps margin expansion—reflecting disciplined cost management and successful business integration.

Our strategic initiatives are delivering results across key metrics. A major milestone was Indocap® becoming Jagsonpal’s first Rs 50 crore brand (Source: IQVIA), highlighting its strong brand equity. The launch of Indocap® P to further strengthen our leadership in safer pain management.

Our Q4FY25 results reaffirm operational alignment, with revenue of Rs586 million (up 35%) and operating EBITDA of Rs 97 million (up 97%).

Our key focus now remains on accelerating organic growth even as we continue to evaluate synergistic inorganic opportunities. With strong internal accruals and a healthy balance sheet, we are well-positioned to invest for long-term value creation.”

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Pharmaceuticals company Jagsonpal Pharmaceuticals announced Q3FY25 results

  • Revenue: Rs 740 milllion compared to Rs 472 million during Q3FY24, change 57%.
  • Operating EBITDA: Rs 171 million compared to Rs 60 million during Q3FY24.
  • EBITDA Margin: 23.1% for Q3FY25.
  • ESOP cost: Rs 13 million compared to Rs 27 million during Q3FY24, change -52%.

Manish Gupta, Managing Director and CEO, Jagsonpal Pharmaceuticals said: “I am pleased with the Q3FY25 performance that is reflective of the strategic choices we have made. With revenues of Rs 740 million, a 57% growth YoY, and a 183% YoY increase in operating EBITDA (pre-ESOP) to Rs 171 million, our performance demonstrates an effective alignment of our operations with market opportunities.

The sale of Faridabad facility for Rs 410 million has further strengthened our financial foundation. The cash position of Rs 1,321 million as of December 31, 2024, gives us the flexibility to invest in areas that promise sustainable growth. On a YTD basis, our 27% revenue growth to Rs 2102 million, coupled with a 53% rise in operating EBITDA to Rs 482 million with 390 bps margin expansion, highlights the success of our business discipline and seamless integration of acquired business.

As we move forward, we shall continue to remain focused on organic growth supported by strategic inorganic initiatives leveraging our internal accruals to build a more resilient and dynamic organisation.”

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Pharmaceuticals company Jagsonpal Pharmaceuticals announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Revenues at Rs 747 million, reflecting a growth of 29.2%.
  • Operating margins (pre-ESOP) expanded by 290 bps to 24.6% driving 46% YoY growth in operating EBITDA to Rs 184 million.
  • Net profit increased YoY by 53% to Rs 114 million, reflecting a net profit margin of 15.3%.

H1FY25 Financial Highlights:

  • Revenues at Rs 1,361 million, reflecting a growth of 15.3%.
  • Operating margins (pre-ESOP) expanded by 130 bps to 22.9% driving a 22.4% YoY growth in operating EBITDA to Rs 311 million.
  • Net profit increased by 12% YoY to Rs 168 million, reflecting a net profit margin of 12.3%.

Management Commentary: We are pleased to report a robust performance for Q2FY25 achieving revenue of Rs747 million, reflecting a remarkable 29.2% growth compared to Q2 FY24. This growth underscores success of our various strategic initiatives and the effective integration of the Yash Pharma business which we acquired in Q1FY25., with Q2FY25 marking first full quarter of contribution. Eight of our top ten brands are now on growth track and we are seeing some positive traction in our recent launches.

Financially, we achieved an operating EBITDA of Rs184 million in Q2 FY25, reflecting a 46.0% YoY increase. Operating margins (pre-ESOP) expanded by 290 basis points to 24.6%. Our net profit rose 53% YoY to Rs114 million, yielding a net profit margin of 15.3%.

In the first half of FY25, revenues totalled Rs1,361 million, YoY up by 15.3%, with operating margins expanding by 130 basis points to 22.9%. Our operating EBITDA for H1FY25 increased YoY by 22.4% to Rs311 million, reflecting an operating margin of 22.9%.

We remain committed to delivering sustained, profitable growth and stay on course to our strategic direction as we progress through the year.

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Jagsonpal Pharmaceuticals announced Q2FY24 & H1FY24 results:

  • Q2FY24:
    • Revenues: Rs 57.8 crore, showing a decrease of 4.5% compared to Q2FY23.
    • Operating EBITDA: Rs 12.6 crore.
    • EBITDA Margin: 21.7%, an increase of 100 basis points (bps) from Q2FY23.
    • ESOP Cost: Rs 4.2 crore.
    • PAT (Profit After Tax): Rs 7.5 crore, marking a decrease of 27.9% compared to Q2FY23.
  • H1FY24:
    • Revenues: Rs 118.0 crore, showing a decrease of 2.6% compared to H1FY23.
    • Operating EBITDA: Rs 25.4 crore, reflecting a 17.6% increase from H1FY23.
    • EBITDA Margin: 21.5%, an increase of 360 bps from H1FY23.
    • ESOP Cost: Rs 8.4 crore.
    • PAT (Profit After Tax): Rs 15.0 crore, reflecting a 12.8% increase compared to H1FY23.

Commenting on the Company’s performance, Manish Gupta, Managing Director stated, “We had a satisfactory outcome for the period, as the performance should be seen in the context of challenging external operating environment with slowing industry coupled with internal challenges in our flagship products - hyper-competition with 75 competitors in Divatrone®(Dydrogesterone) and availability of counterfeits products in Indocap SR® (Indomethacin).

Overall, we maintained our profitability for the quarter, with 100 bps improvement in operating margins, even as we reported a 4.5% decline in revenues. We maintained cash balance at Rs 125 crore despite dividend payout of Rs 13.1 crore during the quarter.

We introduced certain structural initiatives including strengthening anti-counterfeit packing for our key brands. These, along with proposed new product launches gives us the confidence of returning to top-line growth from Q4FY24 onwards.”

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Jagsonpal Pharmaceuticals announced Q1FY24 results:

  • Q1FY24 vs Q1FY23:
    • Revenues: Rs 602 million vs Rs 606 million
    • Operating EBITDA: Rs 129 million vs Rs 91 million
    • EBITDA Margin: 21.4% vs 15.0% 
    • PAT: Rs 75 million vs Rs 29 million
  • Q1FY24 vs Q4FY23:
    • Revenues: Rs 602 million vs Rs 555 million
    • Operating EBITDA: Rs 129 million vs Rs 94 million
    • EBITDA Margin: 21.4% vs 16.9% 
    • PAT: Rs 75 million vs Rs 56 million

Commenting on the company’s performance, Manish Gupta, Managing Director, stated, “The quarter gone by was significant in the journey of Jagsonpal as we reorganized our sales force for sharper doctor alignment as well as creating headroom for new product introductions. We have now transitioned to 3 operating divisions from 2, with two of them focused extensively on women care products and one on pain management.

We maintained our quarterly sales in-line with Q1FY23 but with improved profitability even as the sales team reorganization was underway. With operating EBITDA at Rs 129 million, our operating margin stood at 21.4%, reflecting a 640 bps improvement over last year. Our net profits grew 158% to Rs 75 million.”

 

 

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