Jubilant Pharmova reported a 17% increase in revenue, reaching ₹2,123 Cr for Q3 FY2026, driven by CDMO sterile injectables. EBITDA increased by 5% to ₹310 Cr. The company is investing in radiopharma, CDMO sterile injectables, and CRDMO for future growth. Net Debt / EBITDA remains at 1.3x. The Montreal facility’s production has resumed, with EBITDA margins expected to improve.
Financial Performance Highlights
Jubilant Pharmova’s Q3 FY2026 highlights include:
- Revenue of ₹2,123 Cr, a 17% increase year-over-year.
- EBITDA rose by 5% year-over-year to ₹310 Cr.
- The company saw exceptional growth momentum in Ruby-Fill® installs.
- Demand increased in the Allergy Immunotherapy business from the US market.
- Net Debt / EBITDA remains range bound at 1.3x in Dec’25, lower from 1.5x in Sep’25.
Segmental Performance
Radiopharma
Radiopharmaceuticals revenue grew by 12% to ₹298 Cr, with EBITDA at ₹122 Cr. The business maintains a strong position in the SPECT imaging product portfolio. Jubilant is on track to introduce new products in PET and SPECT imaging from FY27 to FY29. A $50 million investment in the PET radiopharmacy network is underway.
Allergy Immunotherapy
Revenues grew by 12% to ₹193 Cr, driven by growth in the US and outside US markets. EBITDA remained flat year-over-year at ₹49 Cr. The business is expanding the overall market by increasing customer awareness.
CDMO Sterile Injectables
Revenue grew by 49% to ₹457 Cr, driven by incremental revenue from ongoing technology transfer programs in Line 3. EBITDA grew by 31% year-over-year to ₹68 Cr. The Montreal facility’s production has resumed, with EBITDA margins expected to strengthen.
CRDMO
Drug Discovery business revenue grew by 13% to ₹169 Cr. API business revenue stood at ₹129 Cr. EBITDA margins are higher on QoQ due to improved revenue mix towards CDMO business. The sale and transfer of the API Business to Jubilant Biosys Limited is complete.
Generics
Generics business revenue grew by 13% to ₹226 Cr. EBITDA increased, with margins up 150 basis points to 9%. The business has been profitable for the past three quarters and has begun to show growth momentum.
Vision 2030 Targets
The company’s targets by FY30 include:
- Doubling revenue to ₹13,500 Cr.
- Achieving an EBITDA margin of 23% to 25%.
- Maintaining zero net debt.
Source: BSE
