Jubilant Pharmova reported a 17% year-over-year increase in revenue to ₹2,229 crore for the first quarter of fiscal year 2027. The growth was broad-based across business segments, with notable contributions from CDMO Sterile Injectables. While EBITDA saw a year-over-year decline primarily due to the temporary unavailability of high-margin SPECT products, the company anticipates normalization and strengthening of margins in the latter half of the fiscal year.
Jubilant Pharmova Reports Strong Q1 FY27 Performance
Jubilant Pharmova Limited announced its financial results for the quarter ended June 30, 2026, reporting a robust 17% year-over-year growth in revenue to ₹2,229 crore. This solid revenue increase was driven by strong performance across all its business segments, with particular strength highlighted in the CDMO Sterile Injectables business, attributed to incremental revenues from Line 3 technology transfer programs.
Financial Highlights and Segment Performance
Consolidated EBITDA for the quarter stood at ₹268 crore. The year-over-year decrease in EBITDA margins was primarily impacted by the temporary unavailability of high-margin SPECT radiopharmaceutical products in the Radiopharmaceuticals business and negligible third-party revenues. Additionally, higher operating expenses, including incremental remediation costs at the CMO Montreal facility, contributed to the margin pressure.
The company’s performance across key segments includes:
- Radiopharmaceuticals: Revenue grew by 19% YoY to ₹322 crore, supported by sustainable growth in Ruby-Fill®. EBITDA for the segment was ₹110 crore. Margins were impacted by the unavailability of SPECT products, with expectations of normalization from H2’FY27.
- Allergy Immunotherapy: Revenue increased by 18% to ₹214 crore, driven by growth in both US and international markets. EBITDA grew by 5% to ₹66 crore, though margins saw a year-over-year decrease due to lower production.
- CDMO Sterile Injectables: This segment reported a significant 34% revenue growth to ₹496 crore, largely due to incremental revenue from Line 3. EBITDA stood at ₹45 crore, with margins impacted by negligible third-party revenues and higher operating expenses. The Spokane facility, in particular, showed strong revenue growth of 43% and EBITDA growth of 49%.
- CRDMO: Drug Discovery revenue grew by 8% to ₹174 crore, with EBITDA up by 43% to ₹45 crore. The API business revenue was ₹135 crore with EBITDA of ₹19 crore, impacted by industry-wide pricing pressure and increased raw material costs.
- Generics: Revenue grew by 4% to ₹173 crore following the launch of two new products. EBITDA was ₹4 crore, with margins lower YoY due to a change in product mix.
Outlook and Strategic Initiatives
Jubilant Pharmova anticipates continued growth momentum throughout the fiscal year. The company is focusing on expanding its manufacturing capabilities, including the investment in six new PET manufacturing facilities and the ongoing development of new product lines. With respect to US tariffs, the company expects an overall positive impact, particularly on its CDMO Sterile Injectable business, due to increased demand for US-based manufacturing.
The company’s outlook for the full year FY27 suggests continued growth, with EBITDA margins expected to strengthen in the second half of the year as production at CMO Montreal stabilizes. Capex is expected to remain similar to FY26 levels.
Source: BSE
