Jubilant Pharmova has delivered a solid performance for FY26, reporting broad-based growth across businesses and reaffirming its long-term “Vision 2030” roadmap.  

The pharma powerhouse posted strong revenue momentum, even as margins came under pressure due to temporary operational disruptions. 

For FY26, revenue rose 14% year-on-year to Rs. 8,280 crore, while total income increased to Rs. 8,346 crore. EBITDA grew 8% to Rs. 1,326 crore, but margins softened to 15.9%. Normalised PAT rose 7% to Rs. 442 crore. 

The Board approved a dividend of Rs. 5 per equity share. 

Commenting on the performance, company leadership said: “We are pleased to announce revenue of Rs. 8,280 crore. for FY26, which reflects a solid growth of 14% on YoY basis. Revenue growth is particularly driven by incremental revenue generation from the new & third line in CDMO Sterile Injectable business. We expect this growth momentum to strengthen as we move in the next financial year.” 

They added: "EBITDA for the year grew by 8% to Rs.1,326 crore. due to improved performance across all segments except Radiopharmaceuticals, which was affected due to lower production of SPECT products at CMO Montreal. Normalised PAT for the year grew by 7% to Rs. 442 crore due to improved operating performance of the business.” 

However, profitability was hit by operational disruptions: "During FY26, particularly in the second half, we witnessed a decline in EBITDA margins, primarily due to the temporary shutdown of our CDMO Sterile Injectables facility in Montreal, for remediation, following FDA observations.” 

The company expects recovery ahead: “We anticipate EBITDA margins to strengthen from H2’FY27 onwards post stabilisation of production at Montreal, effectively offsetting higher depreciation costs and driving net profit growth.” 

In the March quarter, revenue rose 19% year-on-year to Rs. 2,290 crore while EBITDA increased modestly by 2% to Rs. 363 crore. Normalised PAT came in at Rs. 129 crore, marginally lower due to higher depreciation and interest costs. 

Management noted that performance was impacted by supply constraints and cost absorption issues, particularly in Radiopharma and Montreal operations. 

Segment snapshots: 

Radiopharmaceuticals remained a key growth driver with FY26 revenue up 10% to Rs. 1,178 crore. 

“Q4’FY26 and FY26 EBITDA margins decreased YoY due to one-time negative impact of lower production of certain SPECT products at CMO Montreal.” 

The company confirmed recovery plans: "We have successfully conducted media fills at CMO Montreal, and the commercial batch production will start in the current quarter. As supply resumes, Revenue and EBITDA will normalize from H2’FY27 onwards.” 

It also highlighted growth in its flagship product: “Our Ruby-Fill install base has grown by 35% in FY26 vs 21% in FY25.” 

Radiopharmacy revenue grew 9% to Rs. 2,512 crore, with EBITDA rising 20% to Rs. 36 Cr. Growth was supported by PET manufacturing expansion and strong uptake of diagnostic products like PYLARIFY and Pluvicto. “The proposed investment of US$ 50 million in PET manufacturing network is underway.” 

Allergy Immunotherapy witnessed stable high-margin growth. Revenue grew 12% to Rs. 785 crore, while EBITDA rose 13% to Rs. 278 crore.

Full year EBITDA margin at 35% is in the normalised range.” 

CDMO sterile injectables segment emerged as the strongest performer. 

FY26 revenue surged 38% to Rs. 1,755 crore driven by ramp-up at Spokane Line 3. "We are happy to share that we have onboarded one of the world’s largest oncology products on Line 3.” 

The company is also preparing for future expansion: “The next phase of capacity expansion—Line 4—is also progressing as planned.” 

A key structural change was completed. “We have completed the sale and transfer of API Business to Jubilant Biosys Limited, a wholly owned subsidiary of the company.” 

The goal is integration: “This combined platform will improve the operational efficiency in the business and lead to superior brand recall of “Jubilant Biosys Limited” as the provider of end-to-end CRDMO services…” 

Despite near-term margin pressure, management remains confident about the future. "We expect to deliver healthy revenue growth & steady margins.”