Jubilant Pharmova (530019) Q1 25/26 earnings summary

Executive summary

• Achieved 10% year-over-year revenue growth in Q1'FY26, with EBITDA and PAT margin expansion across all business units.

• Consolidated revenue from operations for Q1 FY26 was ₹18,789 million, up from ₹17,204 million year-over-year and slightly down from ₹19,158 million sequentially.

• Vision 2030 targets doubling revenues, 23–25% EBITDA margin, zero net debt, and high teens ROCE by FY30.

• Major growth drivers include expansion in radiopharma, allergy immunotherapy, CDMO sterile injectables, CRDMO, and generics.

• The Board approved the sale of the API business to a wholly-owned subsidiary, classifying it as discontinued operations in standalone results.

Financial highlights

• Q1'FY26 revenue: Rs. 1,901 Cr, up 10% year-over-year; EBITDA: Rs. 302 Cr, up 14% year-over-year; EBITDA margin: 15.8%.

• Total consolidated income for the quarter was ₹19,127 million, with total expenses at ₹17,582 million.

• Normalized PAT: Rs. 103 Cr, up 48% year-over-year; Normalized PAT margin: 5.4%.

• Net profit attributable to owners for the quarter was ₹1,029 million, compared to ₹4,821 million in Q1 FY25.

• All business segments reported year-over-year revenue growth, with notable EBITDA margin improvements in generics and CRDMO.

Outlook and guidance

• On track to double revenues by FY30, with EBITDA margin guidance of 23–25% and zero net debt.

• The API business sale is expected to complete by 1 September 2025, with no impact on consolidated results as the transaction is intra-group.

• Radiopharma and CDMO sterile injectables to drive margin expansion through new product launches and capacity doubling.

• Generics and API businesses targeting top quartile profitability and margin improvement.

• Proprietary novel drugs to explore monetization via licensing or external funding, with clinical data readouts expected in CY2026.