Jubilant Pharmova Reports 14% Revenue Growth for FY26, Driven by CDMO and Specialty Segments

Jubilant Pharmova Reports 14% Revenue Growth for FY26, Driven by CDMO and Specialty Segments​

Jubilant Pharmova Limited announced solid financial performance for the fiscal year 2026, with total revenue reaching Rs. 8,280 Cr. This represents a 14% year-over-year (YoY) growth. The strong overall growth was powered by multiple business segments, particularly the Contract Development and Manufacturing Organization (CDMO) Sterile Injectables business.

During the fiscal year 2026, the company recorded a total EBITDA of Rs. 1,326 Cr., growing 8% YoY. Normalised PAT for the year increased by 7% YoY to Rs. 442 Cr.

In a strategic move, the Board of Jubilant Pharmova Limited approved a proposed dividend of Rs. 5 per equity share.

Financial Performance Highlights (Rs. Cr.)​

The following table summarizes the core consolidated financial results for the quarter and the full year ended March 31, 2026.

Driving Force: CDMO Sterile Injectables​

Revenue growth was particularly robust in the CDMO Sterile Injectables segment. FY26 revenue for the segment rose by 38% to Rs. 1,755 Cr., fueled by incremental revenue from Line 3 at the Spokane facility. EBITDA grew 8% YoY to Rs. 314 Cr.

The Spokane facility saw particularly strong growth, with revenue rising 48% to Rs. 1,714 Cr. and EBITDA increasing 59% to Rs. 463 Cr. This expansion is being driven by the scaling up of Line 3, which has onboarded one of the world's largest oncology products.

Furthermore, the company is advancing its expansion strategy, with Line 4 expected to start generating technology transfer revenues by Q4'FY27, and Line 5 (a new isolator-based facility in Montreal) anticipated to begin technology transfer revenues from FY29 onwards.

Segmental Performance and Growth Strategy​

Radiopharma:
The Radiopharmaceutical business achieved a 10% YoY revenue growth to Rs. 1,178 Cr., with EBITDA reaching Rs. 480 Cr. Despite a decrease in EBITDA margins YoY due to one-time impacts from lower SPECT product production at CMO Montreal, the business is seeing positive developments. The company successfully conducted media fills at CMO Montreal, with commercial batch production scheduled to start in Q1'FY27. The Radiopharmacy network, which served 1,800 hospitals, reported 9% YoY revenue growth to Rs. 2,512 Cr. The company announced a US$ 50 million investment to expand its PET manufacturing network from three to nine sites, aiming to strengthen its position as the second largest radiopharmacy network in the US.

Allergy Immunotherapy:
Revenue grew by 12% to Rs. 785 Cr., driven by increases in both US and Outside US markets. EBITDA increased 13% to Rs. 278 Cr., maintaining a normalized margin range of 35%. The segment is noted for being the sole supplier of Venom extracts in the US.

CRDMO:
The Contract Research Development and Manufacturing Organization (CRDMO) segment reported a 15% revenue increase to Rs. 654 Cr. EBITDA grew 11% to Rs. 151 Cr. A major strategic development was the completion of the sale and transfer of the API Business to Jubilant Biosys Limited, a wholly owned subsidiary. This action combined the drug discovery business and CDMO API business into a single entity, aiming to improve operational efficiency and strengthen the brand recall of end-to-end CRDMO services.

Generics:
The Generics business demonstrated strong operational improvement, with revenue growing 13% to Rs. 774 Cr. EBITDA increased by 250% to Rs. 83 Cr., and EBITDA margins rose by 7.2 percentage points.

Proprietary Novel Drugs:
The company continues to invest in two lead programs, JBI-802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN), and JBI-778 for non-small cell lung cancer (NSCLC). The clinical trials for both programs are actively enrolling patients, with the company anticipating an NDA filing for MIBG by H2'FY27.

Market Position and Future Outlook​

The company anticipates that its financial performance will show a trend of strengthening EBITDA margins from H2'FY27 onwards, particularly following the stabilization of production at the Montreal facility.

Mr. Shyam S Bhartia, Chairman, Jubilant Pharmova Limited, stated that the growth momentum is expected to continue into the next financial year. He noted that the investment in businesses to secure future growth has kept the Net Debt / EBITDA ratio stable, remaining at 1.3x in March 2026, compared to 1.1x in March 2025.

The company also highlighted that Jubilant Pharmova Limited derives approximately 80% of its FY26 revenue from the US market. It stated that the current US tariffs are expected to have an overall positive impact, especially on the CDMO Sterile Injectable business, as large innovator companies are looking to establish alternate manufacturing sites in the US, driving increased Requests for Proposals (RFPs) for the company's new lines in Spokane.

JUBLPHARMA Stock Price Movement​

Jubilant Pharmova Limited shares today slipped by 0.54% to settle at ₹1006.15, representing an intraday decline of ₹5.50. The equity traded on a total volume of 491,017 shares, while remaining within the day’s ₹988 to ₹1025 range.