Jubilant Pharmova Releases Q4FY26 Transcript; Revenue Up 19% to ₹2,290 Cr
Jubilant Pharmova's Q4FY26 revenue rose 19% to ₹2,290 Cr, with FY26 revenue up 14% to ₹8,280 Cr. EBITDA increased 2% to ₹363 Cr in Q4 and 8% to ₹1,326 Cr for FY26. The company anticipates strengthened growth in FY27 and improved EBITDA margins from H2 FY27. CDMO Line 3 is expected to yield $80-90M peak revenue.
The announcement provides detailed financial results for the quarter and full year, along with forward-looking statements on growth, margins, and significant business segment performance (CDMO, Radiopharma). This information is material for investors to assess the company's financial health and future prospects.
The company reported revenue growth across multiple segments and anticipates further strengthening of growth momentum in FY2027, with expected improvements in EBITDA margins. Positive outlook on CDMO business and debt reduction plans contribute to positive sentiment.
Jubilant Pharmova Limited has released the transcript of its earnings webinar held on May 22, 2026, discussing the financial and operational performance for the quarter and year ended March 31, 2026.
For the fourth quarter of FY2026, the company reported a 19% year-on-year increase in revenue to ₹2,290 Crores, driven by growth in radiopharma, allergy immunotherapy, CDMO sterile injectables, and generics. EBITDA saw a 2% year-on-year rise to ₹363 Crores, though EBITDA margin decreased by 272 basis points to 15.7% due to supply issues in radiopharmaceuticals and cost under-absorption at CMO Montreal. Normalized Profit After Tax (PAT) stood at ₹129 Crores.
For the full fiscal year FY2026, revenue grew by 14% to ₹8,280 Crores, primarily due to strong performance in CDMO Sterile Injectables. EBITDA for the year increased by 8% to ₹1,326 Crores. Normalized PAT for the year grew by 7% to ₹442 Crores.
The company anticipates strengthened growth momentum in FY2027. EBITDA margins are expected to improve from the second half of FY2027 as production at CMO Montreal stabilizes. The CDMO Sterile Injectables business, specifically Line 3 at the Spokane facility, is projected to reach peak revenue of $80 million to $90 million within one-and-a-half to two years, with commercial production commencing in late FY2027, subject to FDA approval. Approximately 80% of the products on Line 3 are complex biologics.
The radiopharma business anticipates margin pressure in the first half of FY2027 due to the unavailability of SPECT cold kits, with expected release from CMO Montreal by mid-to-end Q2 FY2027. The company expects consolidated business to grow in the low double digits with margins in the 38% to 40% range for FY2027. Capex for FY2026 was ₹1,668 Crores, with similar capex planned for FY2027, focusing on Spokane Line 4, Montreal Line 5, and PET pharmacies. The company is committed to achieving net debt zero by FY2030, with deleveraging expected from FY2028 onwards. Net debt as of the announcement was ₹1,952 Crores.
The MIBG NDA filing is expected in the second half of FY2027, with an accelerated review anticipated due to its orphan drug designation. Commercialization of MIBG is planned to be handled in-house. The company also discussed its Ruby-Fill® business, which operates on a razor-and-blade model, and provided a US/non-US split for its allergy business, with the US accounting for about 90%.
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