By BullScreen Editorial Team 
Jubilant Pharmova reported strong Q4 results 2026 and full-year FY26 performance, supported by solid growth across key businesses including CDMO Sterile Injectables, Radiopharmaceuticals, and Drug Discovery operations. The company crossed the ₹8,000 crore revenue milestone for the first time, highlighting continued momentum in its higher-margin healthcare segments.
For FY26, the company reported revenue of ₹8,280 crore, up 14% from ₹7,235 crore in the previous year. EBITDA increased 8% to ₹1,326 crore from ₹1,230 crore, while normalized profit after tax (PAT) rose 7% to ₹442 crore. However, EBITDA margin declined to 15.9% from 16.9% due to temporary production disruptions at its Montreal facility and operational pressures in certain businesses.
The CDMO Sterile Injectables segment emerged as the company’s strongest growth engine during the year. Revenue from the segment climbed 38% to ₹1,755 crore, supported by strong scale-up at the Spokane facility. Spokane revenue increased 48% to ₹1,714 crore, while EBITDA surged 59% to ₹463 crore. Management expects future growth from expansion projects including Line 3 and Line 4 facilities, which together have estimated revenue potential of around USD 250–270 million.
The Generics business also showed meaningful improvement, with EBITDA rising 250% to ₹83 crore and margins improving to 11% from 3%, driven by new product launches and a better product mix.
Despite positive growth trends, investors may closely monitor rising debt levels, which increased 24% to ₹1,677 crore due to ongoing expansion projects and capital expenditure plans. Industry participants also continue to watch pricing pressure in APIs and operational normalization at Montreal facilities.
The Q4 results 2026 indicate Jubilant Pharmova’s transition toward higher-growth and specialized pharmaceutical segments, including radiopharma, biologics CDMO, and discovery services, which could strengthen its long-term earnings profile.
| Metrics | FY25 | FY26 | Change |
|---|---|---|---|
| Revenue | ₹7,235 Cr | ₹8,280 Cr | ↑ 14% |
| EBITDA | ₹1,230 Cr | ₹1,326 Cr | ↑ 8% |
| EBITDA Margin | 16.9% | 15.9% | ↓ 99 bps |
| Normalized PAT | ₹415 Cr | ₹442 Cr | ↑ 7% |
| Net Debt | ₹1,348 Cr | ₹1,677 Cr | ↑ 24% |
| Interest Coverage | 5.1x | 6.3x | Improved |
| Business Segment | Revenue FY26 | Growth | Key Highlight |
|---|---|---|---|
| CDMO Sterile Injectables | ₹1,755 Cr | ↑ 38% | Strong Spokane scale-up |
| Radiopharmaceuticals | ₹1,178 Cr | ↑ 10% | High-margin business contributor |
| Drug Discovery / CRDMO | ₹654 Cr | ↑ 15% | Large pharma demand growth |
| Generics | ₹774 Cr | ↑ 13% | EBITDA jumped 250% |
| API | ₹564 Cr | ↓ 3% | Pricing pressure continued |
| Growth Indicator | Statistics |
|---|---|
| Spokane Revenue Growth | ↑ 48% |
| Spokane EBITDA Growth | ↑ 59% |
| Future Revenue Potential (Line 3 & 4) | USD 250–270 Million |
| Repeat CDMO Business | 90%+ |
| Average Customer Relationship | 5+ Years |
| Customer Switching Time | ~24 Months |