Jubilant Pharmova Limited has reported strong financial results for Q3 and nine months of FY26, fueled by its expanding CDMO Sterile Injectables business.
The company posted Q3 revenue of Rs. 2,123 crore, up 17% YoY, driven by incremental revenue from its new Line 3 in CDMO Sterile Injectables. EBITDA grew 5% to Rs. 310 crore, while normalized PAT stood at Rs. 86 crore.
“We are pleased to announce revenue of Rs. 2,123 Cr. for Q3’FY26, which reflects a solid growth of 17% 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 continue as we make progress in the last quarter of current financial year,” said Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia.
The board highlighted ongoing investments in Radiopharma, CDMO Sterile Injectables, and CRDMO businesses, with net debt/EBITDA improving to 1.3x in Dec’25 from 1.5x in Sep’25.
The quarter saw exceptional growth in Ruby-Fill installs and strong US demand for the Allergy Immunotherapy business. Revenue ramp-up continued at Spokane through technology transfer programs, while Generics and Proprietary Novel Drugs progressed steadily.
A temporary EBITDA margin dip was linked to a Montreal facility shutdown for FDA remediation, now resolved. “We anticipate EBITDA margins to strengthen going forward, effectively offsetting higher depreciation costs and driving net profit growth,” the Bhartias added.
Nine-Month Highlights: Revenue up 13% YoY to Rs. 5,990 crore; EBITDA rose 10% YoY to Rs. 963 crore; Normalized PAT increased 13% to Rs. 313 crore.
Segment Performance:
Radiopharma: Q3 revenue grew 12% to Rs. 298 crore, with Ruby-Fill® installs up 37% YoY. PET and SPECT imaging expansions are planned through FY29. Radiopharmacy revenue rose 11% to Rs. 637 crore.
Allergy Immunotherapy: Q3 revenue up 12% to Rs. 193 crore, driven by the US and international markets.
CDMO Sterile Injectables: Revenue surged 49% to Rs. 457 crore, despite Montreal facility downtime. EBITDA margins are set to improve with Montreal remediation and future Line 5 revenues from FY29 onwards.
CRDMO: Drug Discovery revenue rose 13% to Rs. 169 crore with 26% EBITDA margins. API business sale to Jubilant Biosys Limited is expected to enhance efficiency and brand recall.
Generics: Revenue grew 13% to Rs. 226 crore, with EBITDA margins up 150 bps to 9%, reflecting sustained growth momentum.
Proprietary Novel Drugs: Global trials for JBI-802 and JBI-778 are progressing on schedule.
Jubilant Pharmova’s Q3 performance underscores its strategy of scaling high-margin CDMO operations and specialty businesses while investing in future growth avenues under Vision 2030.
