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Jubilant Pharmova Results: Latest Quarterly Results & Analysis

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Jubilant Pharmova Ltd. 31 Oct 2025 13:16 PM
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Q2FY26 Quarterly Result Announced for Jubilant Pharmova Ltd.

Pharmaceuticals company Jubilant Pharmova announced Q2FY26 results

  • Revenue: Rs 1,966 crore compared to Rs 1,752 crore during Q2FY25, change 12%.
  • EBITDA: Rs 351 crore compared to Rs 311 crore during Q2FY25, change 13%.
  • EBITDA Margin: 17.8% for Q2FY26.
  • PAT: Rs 124 crore compared to Rs 103 crore during Q2FY25, change 21%.

Shyam S Bhartia, Chairman Jubilant Pharmova, & Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova said: “We are pleased to announce revenue of Rs 1,966 crore for Q2FY26, which reflects a growth of 12% on YoY basis. Revenue growth is driven by incremental revenue generation that has started from the new & third line in CDMO Sterile Injectable business. We expect this growth momentum to further accelerate as we make progress in the second half of current financial year. EBITDA for the period grew by 13% YoY to Rs 351 crore due to improved performance in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables and CRDMO business. Normalised PAT grew by 21% to Rs 124 crore on the back of improved operating performance and reduced finance cost. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA increased from 1.1x in Mar’25 to 1.5x in Sep’25.

During Q2FY26, we saw exceptional growth momentum in the Ruby-Fill® installs. In the Allergy Immunotherapy business, we witnessed increase in demand from the US market. In the CDMO Sterile Injectables business, we launched the third line at our Spokane Campus and started revenue generation from technology transfer programs. In the CRDMO business, we continue to invest in business development to drive revenue growth. We also completed that sale transaction of API business to Jubilant Biosys Limited. In the Generics business, we are foreseeing growth & profitability improvement. Lastly, in our Proprietary Novel drugs business, we continue to make progress in JBI-802 and JBI-778 clinical trials.”

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Pharmaceuticals company Jubilant Pharmova announced Q1FY26 results

  • Revenue from Operations rose by 10% YoY, from Rs 1,732 crore to Rs 1,901 crore
  • Total Income increased by 10% YoY, from Rs 1,746 crore to Rs 1,913 crore
  • EBITDA grew by 14% YoY, from Rs 266 crore to Rs 302 crore due to improved performance in CRDMO and Generics.
  • EBITDA Margin improved by 60 bps, from 15.2% to 15.8%
  • Normalised PAT jumped 48% YoY, from Rs 69 crore to Rs 103 crore
  • Normalised PAT Margin expanded by 140 bps, from 4.0% to 5.4%
  • Reported PAT in Q1’FY25 at Rs 482 Cr. was higher because of one time exceptional income of Rs 396 Cr.

Shyam S Bhartia, Chairman Jubilant Pharmova and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova said, “We are pleased to announce revenue of Rs 1,901 crore. in Q1’FY26, growth of 10% over last year, same quarter. It is heartening to note is that we delivered solid revenue growth across all of our business units and we expect this growth momentum to grow stronger as we move forward. EBITDA grew by 14% YoY to Rs 302 crore. Ebitda margins expanded by 60 basis points on the back of improved operating performance across CRDMO and Generics. Normalised PAT grew by 48% to Rs 103 crore. on the back of improved operating performance and reduced finance cost. Reported PAT in Q1FY25 at Rs 482 crore. was higher because of one time net exceptional income of Rs 396 crore. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA increased marginally from 1.1x in Mar’25 to 1.2x in Jun’25 on the back of increased capex intensity.

During Q1’FY26, we saw continued growth momentum from Ruby-Fill® and PET radiopharmacies. In the Allergy Immunotherapy, we witnessed increase in demand from the US. In the CDMO Sterile Injectables, strong customer traction for Line 3 in Spokane continues. In the CRDMO business, we integrated the new R&D facility in France and are now investing in business development initiatives. In the Generics business, we are foreseeing growth & profitability improvement. Lastly, in our Proprietary Novel drugs business, we continue to progress in dosing patients in JBI-802 and JBI-778 clinical trials.”

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from Operations for Q4FY25 was Rs 1,929 crore, a 10% increase compared to Rs 1,759 crore in Q4FY24.
  • Total Income for Q4FY25 was Rs 1,941 crore, a 9% increase compared to Rs 1,773 crore in Q4FY24.
  • EBITDA for Q4FY25 was Rs 357 crore, a 23% increase compared to Rs 289 crore in Q4FY24.
  • EBITDA Margin for Q4FY25 stood at 18.4%, expanding by 210 bps from 16.3% in Q4FY24.
  • Reported PAT for Q4FY25 was Rs 151 crore, a 345% increase compared to a loss of Rs 62 crore in Q4FY24.
  • Normalized PAT for Q4FY25 was Rs 139 crore, a 127% increase compared to Rs 61 crore in Q4FY24.

FY25 Financial Highlights:

  • Revenue from Operations for FY25 was Rs 7,628 crore, an 8% increase compared to Rs 7,060 crore in FY24.
  • Total Income for FY25 was Rs 7,678 crore, an 8% increase compared to Rs 7,103 crore in FY24.
  • EBITDA for FY25 was Rs 1,434 crore, a 24% increase compared to Rs 1,153 crore in FY24.
  • EBITDA Margin for FY25 stood at 18.7%, expanding by 220 bps from 16.5% in FY24.
  • Reported PAT for FY25 was Rs 572 crore, a 1,050% increase compared to Rs 50 crore in FY24.
  • Normalized PAT for FY25 was Rs 506 crore, a 112% increase compared to Rs 239 crore in FY24.

Commenting on the Company’s performance in FY25, Shyam S Bhartia, Chairman Jubilant Pharmova and Hari S Bhartia, Co-Chairman & Non-Executive Director, said, “We are pleased to announce revenue of Rs 7,235 crore. in FY25, growth of 8% over last year. We delivered robust revenue growth across Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables and CRDMO businesses. EBITDA grew by 24% to Rs 1,230 crore. on the back of strong operating performance across all business units. EBITDA margins for the year expanded by 220 basis points. Reported PAT grew by 1,050% to Rs 836 crore., while normalised PAT grew by 112% to Rs 415 crore. on the back of improved operating performance and reduced finance cost. Net Debt / EBITDA reduced from 2.5x in Mar’24 to 1.1x in Mar’25 on the back of voluntary debt prepayment of USD 125 million in FY25.

In Feb’2025, we outlined our Vision 2030, which is to double our revenues from FY24 to FY30, improve EBITDA margins to 23% to 25% range, reduce Net debt to zero and grow Return on Capital to high teens. Our FY25 financial performance takes us one-step closer to our Vision.

During the year, the Company started distributing Pylarify®, an industry leading prostate cancer diagnostic imaging agent from PET radiopharmacies, completed Media Fills on Line 3 in CDMO Sterile Injectables, added strategic capabilities in the area of Biologics and Antibody drug conjugates in Drug Discovery, reached profitability in the Generics business and dosed first patients in JBI-802 and JBI-778 clinical trials.

The large innovator pharma companies, for their US requirements, are now looking to create an alternate manufacturing site in the US as a risk management measure in the event of tariff imposed by the US govt. Therefore, the company is starting to see excellent traction in the CDMO Sterile Injectable business for new lines in the Spokane facility. We expect to reach peak utilisation for Line 3 in 3 years from start of commercial production vs 4 years, expected earlier.”

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q3FY25 results

  • Revenue grew by 9% on a YoY basis to Rs 1,822 crore on the back of growth in revenue across all segments.
  • EBITDA grew by 11% on a YoY basis to Rs 296 crore.
  • EBITDA Margin: 16.2% during Q3FY25.
  • PAT increased by 57% on a YoY basis to Rs 104 crore.
  • Net debt / EBITDA improved to 1.4x as on Dec’24 from 2.5x as on Mar’24.

Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubliant Pharmova, said: “We are pleased to announce solid revenue growth of 9% YoY on the back of growth across all business segments. EBITDA grew by 11% YoY to Rs 296 Cr, while reported PAT grew by 52% YoY to Rs 101 crore We repaid debt of USD 125 million in the current financial year including USD 25 million in Jan’25.

In the Radiopharmacy business, we started distribution of Pylarify®, an industry leading prostate cancer diagnostic imaging agent from 2 of our PET radiopharmacies. We completed Media Fills on Line 3 in CDMO Sterile Injectables. The Drug Discovery business is driving increasing revenue from large pharma clients. We have also executed definitive agreements with Pierre Fabre to add strategic capabilities in the area of Biologics and Antibody drug conjugates. In the Generics business, we continue to focus on profitability.”

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q2FY25 & H1FY25 results

Q2FY25 Financial Highlights:

  • Total income grew by 5% on a YoY basis to Rs 1,774 crore.
  • EBITDA grew by 19% on a YoY basis to Rs 311 crore.
  • EBITDA margins improved by 210 basis points on YoY basis to 17.5%.
  • PAT increased by 65% on a YoY basis to Rs 103 crore.
  • Net debt/ EBITDA improved to 1.5x as on Sep’24 from 2.5x as on Mar’24.

H1FY25 Financial Highlights:

  • Total income grew by 7% on YoY basis to Rs 3,520 crore.
  • EBITDA grew by 32% on YoY basis to Rs 577 crore.
  • Profit after tax increased by 153% to Rs 172 crore.

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q1FY25 results:

  • Total income in Q1FY25 grew by 9% YoY to Rs 1,746 crore, driven by growth in Ruby-Fill and new product sales in radiopharmaceuticals, volume growth in radiopharmacies, and continued momentum in the Allergy Immunotherapy and CDMO Sterile Injectables businesses.
  • EBITDA increased by 50% YoY to Rs 266 crore due to improved performance across all segments: Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, CRDMO, and Generics.
  • PAT for Q1FY25 stood at Rs 482 crore normalized PAT saw a significant increase of 1,055% YoY to Rs 69 crore driven by enhanced operating performance.
  • In June 2024, the company received stake sale proceeds of up to USD 115.9 million from Sofie Biosciences Inc., leading to a voluntary debt repayment of USD 75 million (Rs 626 crore). As a result, net debt reduced from Rs 2,509 crore in March 2024 to Rs 1,869 crore.
  • Net debt/EBITDA ratio also improved from 2.5x to 1.7x compared to March 2024.

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total income: Rs 1,773 crore (5% increase compared to Q4FY23)
  • Reported EBITDA: Rs 289 crore (20% increase compared to Q4FY23)
  • EBITDA margin: 16.3% (Increased by 200 basis points compared to Q4FY23)
  • Normalized PAT: Rs 61 crore (122% decrease compared to Q4FY23)

FY24 Financial Highlights:

  • Total income: Rs 6,772 crore (7% increase compared to FY23)
  • Reported EBITDA: Rs 994 crore (20% increase compared to FY23)
  • EBITDA margin: 14.7% (Increased by 160 basis points compared to FY23)
  • Normalized PAT: Rs 195 crore (63% increase compared to FY23)
  • The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter and financial year ended Mar 31, 2024. The board has proposed a dividend of Rs 5 per equity share.

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q3FY24 & 9MFY24 results:

Revenue and Income:
- Total income for Q3FY24 increased by 10% YoY to Rs 1,713 crore.
- EBITDA for Q3FY24 grew by 63% YoY to Rs 254 crore with EBITDA margin expansion of 490 basis points YoY.
- The company reported a Profit After Tax (PAT) of Rs 66 crore in Q3FY24, showing a remarkable improvement compared to a PAT of (Rs 16 crore) in Q3FY23.
- For 9MFY24, total income rose 8% YoY to Rs 4,999 crore.
- EBITDA for 9MFY24 showed a 16% increase YoY, reaching Rs 684 crore with a 100 basis point margin expansion.

Segment Performance:
- Radiopharma revenue in Q3FY24 grew by 23% to Rs 752 crore and EBITDA increased significantly by 153% to Rs 161 crore.
- Allergy Immunotherapy revenue for Q3FY24 saw a 9% increase to Rs 161 crore, with EBITDA rising by 16% to Rs 62 crore.
- CDMO Sterile Injectables Q3FY24 revenue increased by 11% to Rs 303 crore, though EBITDA for Q3FY24 was affected by planned extended shutdowns, expected to improve in Q4.
- CRDMO Q3FY24 revenue stood at Rs 252 crore, with EBITDA margins at 16% despite facing industry headwinds.
- Generics segment Q3FY24 revenue was reported at Rs 199 crore with an improving EBITDA trend.

Debt:
- Total Gross Debt as of December 31, 2023, was reported at Rs 3,419 crore. showing a slight increase compared to Rs 3,410 crore. as of March 31, 2023.

Key Priorities and Future Outlook:
- Focus on leveraging the Radiopharma segment's stable and high-margin core portfolio for continuing leadership in North America.
- Spotlight on Allergy Immunotherapy market share growth in the US through venom immunotherapy and expanding in non-US markets.
- In CDMO Sterile Injectables, emphasis on executing a $370 million capacity expansion to support projected market growth.
- In Generics, steps toward enhancing quality and engagement with the US FDA for Import Alert resolution at the Roorkee facility.
- In CRDMO, the objective is to drive new customer acquisitions and invest in capabilities to improve productivity.
- For Proprietary Novel Drugs, focus on progressing clinical trials for LSD1/HDAC6 inhibitors and capitalizing on strategic opportunities for non-dilutive funding.

Sustainability Initiatives:
- The company has entered into a power purchase agreement to meet 90% of its electricity demand from renewable sources for its facilities in Karnataka.

 

 

 

Result PDF

Pharmaceuticals company Jubilant Pharmova announced Q2FY24 results:

1. Financial Results - Consolidated:
- Total Revenue for Q2FY24 was Rs 1,680 crore, with a growth of 5% compared to Q2FY23.
- Adjusted Revenue for Q2FY24 was Rs 1,704 crore, with a growth of 7% compared to Q2FY23.
- Reported EBITDA for Q2FY24 was Rs 252 crore, with a margin of 15%.
- Adjusted EBITDA for Q2FY24 was Rs 289 crore, with a margin of 17%.

2. Radiopharmaceuticals:
- Revenue for Q2FY24 was Rs 251 crore, accounting for 15% of the company's revenue.
- EBITDA margin for Q2FY24 was 53%.

3. Radiopharmacies:
- Revenue for Q2FY24 was Rs 490 crore, accounting for 29% of the company's revenue.
- EBITDA margin for Q2FY24 was 1%.

4. Allergy Immunotherapy:
- Revenue for Q2FY24 was Rs 179 crore, accounting for 11% of the company's revenue.
- EBITDA margin for Q2FY24 was 48%.

5. CDMO Sterile Injectables:
- Revenue for Q2FY24 was Rs 301 crore, accounting for 18% of the company's revenue.
- EBITDA margin for Q2FY24 was 19%.

6. Generics:
- Revenue for Q2FY24 was Rs 172 crore, accounting for 10% of the company's revenue.
- EBITDA margin for Q2FY24 was (29)%.

7. Drug Discovery Services:
- Revenue for Q2FY24 was Rs 115 crore, accounting for 7% of the company's revenue.
- EBITDA margin for Q2FY24 was 22%.

8. CDMO - API:
- Revenue for Q2FY24 was Rs 165 crore, accounting for 10% of the company's revenue.
- EBITDA margin for Q2FY24 was 9%.

 

 

Result PDF

Jubilant Pharmova announced Q3FY23 results:

  • Consolidated Q3FY23:
    • Revenues were at Rs 1,553 crore vs Rs 1,311 crore in Q3FY22 and Rs 1,600 crore in Q2FY23.
    • Reported EBITDA was at Rs 155 crore vs Rs 200 crore in Q3FY22 and Rs 232 crore in Q2FY23.
      • In Q3FY23, we witnessed nil COVID-related deals vs Rs 89 crore in Q3FY22 and Rs 22 Crore in Q2FY22.
    • Finance cost was at Rs 51 crore vs Rs 37 crore in Q3FY22 and Rs 42 crore in Q2FY23. Higher finance cost was on account of the increase in global interest rate benchmarks. 1M SOFR has increased from 3.05% in Q2FY23 to 4.36% in Q3FY23.
    • Reported PAT was at –ve Rs 16 crore as compared with Rs 51 crore in Q3FY22 and Rs 5 crore in Q2FY23.
    • EPS was at –ve Rs 0.98 vs. Rs 3.2 in Q3FY22 and Rs 0.34 in Q2FY23.
    • Capital expenditure for the quarter was Rs 218 crore.

Commenting on Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Pharmova Limited said: “During the quarter, the Company reported higher revenues YoY led by an increase in sales in Radiopharmacies, Allergy and CDMO-API businesses and stable revenues in Radiopharmaceuticals, CDMO Sterile Injectables and Drug Discovery Services businesses.

The company’s profitability stood lower in Q3FY23 vs. YoY and QoQ due to lower Covid-related deals in the CDMO Sterile Injectables business, industry-wide issue of generator supply outage that impacted Radiopharmacies business, lower production in the CDMO-API business and lower volumes in Drug Discovery Services business.

In Generics, the Company has undertaken a large-scale business transformation focused on turnaround through cost optimisations and driving growth in branded markets in India and select international markets.

In FY24, Company’s profitability is expected to improve driven by growth in Radiopharmaceuticals, Allergy Immunotherapy and CDMO Sterile Injectables businesses. Recovery in Generics, API businesses and Radiopharmacies will also contribute to better profitability.

The Company has several growth levers across its various businesses (Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Generics and CRDMO), which shall drive sustainable growth for the company in the medium term. In our Proprietary Novel Drugs business, we have several high potential programs, which are at the preclinical/clinical stage.”

Result PDF

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