Jubilant Pharmova Q3FY26 Revenue Reaches ₹2,123 Crore; EBITDA at ₹310 Crore

Noida: Jubilant Pharmova Q3FY26 financial results show strong revenue growth supported by performance in the CDMO Sterile Injectables business, particularly the new Line 3 capacity.

The company reported revenue of ₹2,123 crore for the third quarter of FY26 (Jubilant Pharmova Q3FY26), reflecting a 17% year-on-year increase, while EBITDA stood at ₹310 crore, up 5% YoY.

The Board of Jubilant Pharmova Limited approved the financial results for the quarter and nine months ended December 31, 2025.

Jubilant Pharmova Q3FY26 Performance Highlights

Jubilant Pharmova Q3FY26 revenue growth was driven by incremental contributions from the CDMO Sterile Injectables segment, while investments continued across Radiopharma, CRDMO, and proprietary drug development programs.

For 9M FY26, the company reported:

• Revenue of ₹5,990 crore, up 13% YoY
• EBITDA of ₹963 crore, up 10% YoY
• Normalised PAT of ₹313 crore, up 13% YoY

However, EBITDA margins declined during the quarter (Jubilant Pharmova Q3FY26) due to the temporary shutdown of the Montreal CDMO Sterile Injectables facility following FDA observations. Production has resumed in Q4 FY26.

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Commenting on performance, Shyam S Bhartia, Chairman, Jubilant Pharmova Limited, and Hari S Bhartia, Co-Chairman & Non-Executive Director, said:

“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. EBITDA for the period grew by 5% YoY to Rs. 310 Cr. due to improved performance in CDMO Sterile Injectables and CRDMO business. Normalised PAT for the quarter stood at Rs. 86 Cr. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA remains range bound at 1.3x in Dec’25, lower from 1.5x in Sep’25.”

They further added:

“Jubilant Pharmova Q3FY26 saw exceptional growth momentum in the Ruby-Fill® installs. In the Allergy Immunotherapy business, we witnessed increase in demand from the US market. In the CDMO Sterile Injectables business, we ramped up revenue generation from technology transfer programs at Line 3 in Spokane. In the CRDMO business, we continue to invest in building CDMO capabilities. In the Generics business, we are foreseeing growth & profitability improvement. Lastly, in our Proprietary Novel drugs business, we continue to make progress in JBI-802 and JBI-778 clinical trials.”

They also noted:

“During Jubilant Pharmova Q3FY26 quarter, 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. Production has resumed at our Montreal site in Q4’FY26. We anticipate EBITDA margins to strengthen going forward, effectively offsetting higher depreciation costs and driving net profit growth.”

Jubilant Pharmova Q3FY26: Segment Performance Overview

• Radiopharma
  • Radiopharmaceuticals revenue grew 12% YoY to ₹298 crore
  • Radiopharmacy revenue increased 11% YoY to ₹637 crore.
  • Ruby-Fill installations expanded significantly, with the install base growing 37% in 9M FY26 on an annualised basis.

The company is progressing toward expanding its PET radiopharmacy network to nine sites in the US, supported by a US$50 million investment.

• Allergy Immunotherapy
  • Revenue for the segment grew 12% to ₹193 crore during Q3 FY26, supported by demand in US and international markets.
  • EBITDA remained stable at ₹49 crore.

• CDMO Sterile Injectables
  • Revenue rose 49% YoY to ₹457 crore, driven by technology transfer programs at the Spokane facility’s Line 3.
  • EBITDA grew 31% YoY to ₹68 crore, although margins were impacted by the Montreal facility shutdown.

The company expects:

• Commercial production from Line 3 in late FY27
• Line 4 technology transfer revenue beginning Q4 FY27
• Line 5 revenue generation from FY29

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• CRDMO Business
  • Drug Discovery revenue increased 13% to ₹169 crore, with EBITDA margins at 26%.
  • The API business recorded revenue of ₹129 crore, with stable EBITDA margins supported by a profitable product mix.
  • The API business transfer to Jubilant Biosys Limited is expected to improve operational efficiency and asset utilization.

• Generics Business
  • Revenue grew 13% to ₹226 crore, with EBITDA at ₹26 crore.
  • The segment has remained profitable for three consecutive quarters and plans to launch 6–8 products annually across US and international markets.

• Proprietary Novel Drugs
  • Clinical trials continue for:
    • JBI-802 (Phase II) for Essential Thrombocythemia and MPN
    • JBI-778 (Phase I) for NSCLC and high-grade Glioma