Jubilant Pharmova (530019) Q2 25/26 earnings summary

Executive summary

• Achieved 12% YoY revenue growth in Q2'FY26, driven by Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, and CRDMO segments.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

• Statutory auditors issued unqualified limited review reports for both standalone and consolidated results.

• EBITDA margin improved to 17.8% in Q2'FY26, up 24 bps YoY, with normalized PAT margin at 6.3%.

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

Financial highlights

• Q2'FY26 consolidated revenue: ₹19,578 million (up from ₹17,422 million YoY); H1'FY26: ₹38,367 million (up from ₹34,626 million YoY).

• Q2'FY26 EBITDA: Rs. 351 Cr (up 13% YoY); margin at 17.8%.

• Q2'FY26 consolidated net profit: ₹1,199 million, up from ₹1,025 million YoY; H1'FY26 net profit: ₹2,224 million.

• Net debt increased to Rs. 1,897 Cr as of Sep 30, 2025; Net Debt/EBITDA at 1.5x.

• One-time net exceptional income in H1'FY25 due to gain on sale of Sofie Biosciences.

Outlook and guidance

• Revenue expected to double by FY30, with EBITDA margin guidance of 23–25%.

• Net debt targeted to reach zero by FY30.

• High teens ROCE expected by FY30.

• Company intends to move to the new tax regime under Section 115BAA from FY27, impacting deferred tax assets and MAT credit entitlement.