Detailed Narrative
Vision 2030: A Roadmap to ₹13,500 Crore Revenue
Jubilant Pharmo has set an aggressive target to double its revenue to ₹13,500 crores by FY30, up from ₹6,700 crores in FY24. This growth is expected to be accompanied by significant margin expansion, with EBITDA targets moving from 15% to a range of 23-25%. The company plans to achieve this through a mix of specialty product launches in Radiopharma and doubling capacity in its CDMO Sterile Injectables business.
Radiopharma: Moving Up the Value Chain
The Radiopharma segment, contributing over 45% of revenue, is pivoting towards PET imaging and advanced therapeutics. The company is investing US $50 million to expand its PET pharmacy network from 3 to 9 sites by FY28, targeting an ROCE of over 20%. Additionally, the MIBG therapeutic for Neuroblastoma is expected to file with the FDA in H2 FY25, with a peak sales potential of US $70-$100 million.
CDMO Sterile Injectables: Capacity and Technology Lead
Management is doubling sterile injectable capacity at its Spokane facility, a US $285 million project partially funded by the US government. The new 'Line 3' will feature advanced isolator technology, which is increasingly demanded by big pharma for high-value biologics. Commercial revenues from this expansion are slated to begin by the end of 2026 (FY27), with segment EBITDA margins expected to exceed 25%.
Generics Turnaround and Future Growth
The Generics business has successfully reached EBITDA break-even after being at -30% margins two years ago. With the Roorkee facility now VAI compliant, the company plans to launch 6-8 products annually in the US market. The long-term goal for this segment is to double the top line and achieve 15-17% EBITDA margins by FY30 through a combination of internal ANDA launches and in-licensing.
Strategic Acquisition in CRDMO
Jubilant is acquiring an 80% stake in Pierre Fabre's facility in France to bolster its capabilities in Antibody-Drug Conjugates (ADC) and monoclonal antibodies. This acquisition provides a strategic foothold in Europe and aligns with the company's goal to triple CRDMO revenues by FY30. The company estimates a total CAPEX of US $150 million for this segment to sustain a 20% ROCE.