Jubilant Pharmova Q1FY27 Revenue Up 17% to ₹2,229 Cr, PAT Declines
Jubilant Pharmova reported Q1 FY27 revenue of ₹2,229 Cr, up 17% YoY. PAT declined 45% to ₹56 Cr due to lower margins from SPECT radiopharmaceuticals and higher costs. The company anticipates margin improvement in H2 FY27. Investments in new PET facilities and progress in novel drug trials continue.
The revenue growth across segments is a positive indicator of business momentum. However, the decline in profitability metrics and the reasons cited for it, such as product unavailability and increased costs, temper the immediate impact. The company's strategic investments and future outlook suggest medium-term potential.
The revenue growth is positive, but the significant decline in PAT and EBITDA margins indicates challenges, making the overall sentiment neutral.
Jubilant Pharmova Limited announced its financial results for the quarter ended June 30, 2026. The company reported a revenue of ₹2,229 crore, marking a 17% year-on-year growth, driven by strong performance across all business segments, particularly CDMO Sterile Injectables.
Despite the revenue growth, EBITDA for the quarter stood at ₹268 crore, a decrease of 11% year-on-year, with EBITDA margins declining to 11.9% from 15.8% in Q1 FY26. This margin compression was attributed to the unavailability of high-margin SPECT radiopharmaceutical products, negligible third-party revenues, and increased operating expenses, including remediation costs at the CMO Montreal facility. Reported Profit After Tax (PAT) for the period was ₹56 crore, a 45% decrease year-on-year, with PAT margins falling to 2.5% due to lower operating profitability and increased depreciation.
The company expects EBITDA margins to improve from the second half of FY27 as SPECT radiopharmaceutical products are anticipated to be fully available. Key business segments demonstrated varied performance: Radiopharma revenue grew 19% to ₹322 crore, supported by increased Ruby-Fill® installs and a 17% YoY growth in Radiopharmacy revenue to ₹700 crore. Allergy Immunotherapy revenue increased by 18% to ₹214 crore, while CDMO Sterile Injectables saw a significant 34% revenue jump to ₹496 crore, primarily from Line 3 at Spokane. The CRDMO business reported an 8% revenue growth in Drug Discovery and a 135 crore revenue in API. Generics business revenue grew 4% to ₹173 crore.
Jubilant Pharmova is progressing towards its Vision 2030, aiming to double its revenues by FY30. The company is also investing US$60+ million in six new PET manufacturing facilities, which are expected to be operational by FY28, expanding its PET radiopharmacy network to nine sites. The company is actively enrolling patients in clinical trials for its novel drug candidates, JBI-802 and JBI-778.
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