Jubilant Pharmova Limited on Friday reported full-year revenue of ₹8,280 crore for FY26, up 14 per cent year-on-year, driven by strong performance in its contract drug manufacturing, allergy immunotherapy, and generics businesses. EBITDA rose 8 per cent to ₹1,326 crore, while normalised profit after tax grew 7 per cent to ₹442 crore. The board declared a dividend of ₹5 per share.

The standout performer was the CDMO Sterile Injectables segment, where revenue surged 38 per cent to ₹1,755 crore after the company commissioned a third fill-and-finish line at its Spokane, Washington facility. Management said the company has now onboarded one of the world’s largest oncology products on Line 3, with commercial batch production expected by late FY27, pending FDA approval. Spokane alone delivered 48 per cent revenue growth and a 59 per cent jump in EBITDA.

Margins, however, came under pressure. Full-year EBITDA margin narrowed by 99 basis points to 15.9 per cent, largely due to a temporary shutdown of the Montreal facility following FDA observations. The Montreal plant, which manufactures SPECT radiopharmaceutical products, has since completed media fills, and the company expects commercial batch production to resume in the current quarter. Management guided for margin recovery from the second half of FY27.

The Radiopharmacy segment reported 9 per cent revenue growth to ₹2,512 crore, with the company expanding distribution of PYLARIFY, a prostate cancer diagnostic agent, and beginning supply of Pluvicto, a prostate cancer treatment. A planned $50 million investment will expand its PET radiopharmacy network from six to nine US sites. The Ruby-Fill cardiac imaging install base grew 35 per cent in FY26.

The company also cited rising demand from large US pharma companies seeking domestic manufacturing capacity in light of new US tariffs, which it said is generating increased interest in capacity at Spokane. A fourth sterile fill-and-finish line (Line 4) is in progress, expected to begin technology transfer revenues by Q4 FY27.

For the March quarter alone, revenue grew 19 per cent year-on-year to ₹2,290 crore, while EBITDA rose a modest 2 per cent to ₹363 crore. Net debt to EBITDA stood at 1.3x as of March 2026, up from 1.1x a year earlier, as the company continues to invest in capacity expansion. Shares of Jubilant Pharmova closed 0.52 per cent lower at ₹1,006.35 on the NSE on Friday.

Published on May 22, 2026