Jubilant Pharmova Limited reported a 17% year-on-year increase in revenue to ₹2,229 crore for the first quarter of FY27, supported by growth across its key businesses, particularly CDMO Sterile Injectables. EBITDA for the quarter stood at ₹268 crore, while reported profit after tax (PAT) was ₹56 crore. The company said EBITDA margins were lower compared with the year-ago period, mainly due to the temporary unavailability of certain high-margin SPECT radiopharmaceutical products, lower third-party revenues and higher operating expenses, including additional remediation costs at its Montreal facility.
Shyam S Bhartia, Chairman, and Hari Bhartia, Co-Chairman and Non-Executive Director, Jubilant Pharmova, said the company recorded broad-based revenue growth during the quarter. They added that margins are expected to improve from the second half of FY27 as SPECT radiopharmaceutical products become available.
In the Radiopharmaceuticals business, revenue increased 19% year-on-year to ₹322 crore, while EBITDA stood at ₹110 crore. Commercial batch production of SPECT radiopharmaceutical products has started at the Montreal facility following successful media-fill activities, with product releases expected in Q2 FY27. The company expects its full SPECT portfolio to be available by the second half of FY27.
Revenue from the company’s Radiopharmacy business increased 17% to ₹700 crore, while EBITDA rose 19% to ₹12 crore. Jubilant Pharmova is investing more than US$60 million in six new PET manufacturing sites in the US. These facilities are expected to become operational in FY28, taking its PET radiopharmacy network to nine locations.
The Allergy Immunotherapy business recorded 18% revenue growth to ₹214 crore, while EBITDA increased 5% to ₹66 crore. The company said demand improved in both the US and international markets. CDMO Sterile Injectables revenue rose 34% to ₹496 crore. At the Spokane facility, revenue increased 43% to ₹494 crore and EBITDA rose 49% to ₹117 crore, with EBITDA margin expanding by 100 basis points to 24%. The company has completed installation of Line 4, which is expected to begin generating technology transfer revenue in Q4 FY27 after media-fill activities.
The CRDMO Drug Discovery business recorded 8% revenue growth to ₹174 crore, while EBITDA increased 43% to ₹45 crore. The API business reported revenue of ₹135 crore amid pricing pressure. Generics revenue increased 4% to ₹173 crore following the launch of two products. The company plans to introduce additional products during FY27.
Jubilant Pharmova also continues to advance clinical trials for its proprietary drugs JBI-802 and JBI-778 in oncology and related indications. The company operates across radiopharma, allergy immunotherapy, CDMO, CRDMO, generics and proprietary novel drugs, with around 5,500 employees globally
