Jubilant Pharmova Reports 17% YoY Revenue Growth to ₹2,229 Crore in Q1 FY27; CDMO Sterile Injectables Surges 34%

Jubilant Pharmova Limited today announced its consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27), delivering strong top-line expansion supported by broad-based growth across all operational verticals, particularly driven by its CDMO Sterile Injectables business.

Consolidated Financial Performance

Revenue from Operations: Expanded 17% year-on-year (YoY) to ₹2,229 crore in Q1 FY27 compared to ₹1,901 crore in Q1 FY26 (₹2,290 crore in Q4 FY26). Total income reached ₹2,249 crore.

Operating EBITDA: Stood at ₹268 crore in Q1 FY27, down 11% YoY from ₹302 crore in Q1 FY26.

EBITDA Margin: Contracted by 385 basis points YoY to 11.9% (compared to 15.8% in Q1 FY26 and 15.7% in Q4 FY26). The margin drop was primarily caused by the temporary unavailability of high-margin SPECT products, lower third-party revenues, and higher operating/remediation expenses at the CMO Montreal facility.

Reported Net Profit (PAT): Came in at ₹56 crore, declining 45% YoY compared to ₹103 crore in Q1 FY26, impacted by operating margin pressure and higher depreciation expenses.

Segment-Wise Performance Highlights

1. Radiopharma & Radiopharmacy

Radiopharmaceuticals: Revenue grew 19% YoY to ₹322 crore with EBITDA at ₹110 crore. Commercial batch production for SPECT radiopharmaceuticals has commenced following successful media-fills at CMO Montreal, with batch releases slated for Q2 FY27 and full product availability by H2 FY27. Ruby-Fill® installation base grew 26% YoY.

Radiopharmacy: Revenue increased 17% YoY to ₹700 crore, supported by volume growth in PET products. EBITDA grew 19% YoY to ₹12 crore. A US$ 60+ million expansion is underway to add six new PET manufacturing sites by FY28, expanding the total PET network to nine sites.

2. CDMO Sterile Injectables

Strong Top-Line Expansion: Revenue surged 34% YoY to ₹496 crore, driven by technology transfer revenues on Line 3 at the Spokane facility.

Spokane Facility: Revenue grew 43% YoY to ₹494 crore, and EBITDA rose 49% YoY to ₹117 crore with margins expanding 100 bps to 24%. Line 3 currently has 10+ products undergoing tech transfer, including a major global oncology product. Installation of Line 4 is complete, with tech transfer revenues expected to commence in Q4 FY27.

CMO Montreal Facility: Post-receipt of an FDA warning letter in Q1 FY27, remediation actions are underway. Operating losses are expected to taper off in H2 FY27 as SPECT product sales resume.

3. Allergy Immunotherapy

Revenue: Grew 18% YoY to ₹214 crore on healthy demand in the US and international markets. EBITDA came in at ₹66 crore (up 5% YoY).

4. CRDMO (Drug Discovery & API)

Drug Discovery Services: Revenue increased 8% YoY to ₹174 crore, while EBITDA surged 43% YoY to ₹45 crore, leading to a 630 bps margin expansion to 26%.

Active Pharmaceutical Ingredients (API): Revenue stood at ₹135 crore and EBITDA at ₹19 crore, impacted by industry-wide pricing pressure and raw material cost inflation.

5. Generics & Proprietary Novel Drugs

Generics: Revenue reached ₹173 crore (up 4% YoY) with EBITDA of ₹4 crore, supported by two new product launches.

Proprietary Novel Drugs: Clinical trials progress as planned, with active enrollment underway for lead programs JBI-802 (Essential Thrombocythemia/MPN) and JBI-778 (NSCLC/Glioma).

Management Outlook

Management expects EBITDA margins to begin expanding from H2 FY27 onwards as all SPECT radiopharmaceutical products return to full commercial market availability and tech transfer programs scale up. Additionally, US tariff policy shifts are accelerating requests for proposals (RFPs) for isolator-based US-based sterile fill-finish capacity, positioning Jubilant Pharmova's Spokane expansion to capture long-term CDMO demand.

Shares of Jubilant Pharmova Limited was last trading in BSE at Rs. 961.70 as compared to the previous close of Rs. 931.75. The total number of shares traded during the day was 22357 in over 1321 trades.

The stock hit an intraday high of Rs. 970.00 and intraday low of 930.95. The net turnover during the day was Rs. 21350152.00.

Source : Equity Bulls

Keywords

JubilantPharmova INE700A01033 Pharmaceuticals Q1FY27 Q1FY2027 ResultUpdate