JUBLPHARMA
Jubilant Pharmova share price & financials
- Price
- ₹1,022.6
- Market cap
- ₹16.3k Cr
- Sector
- Healthcare
- Calls analysed
- 6
Jubilant Pharmova Q4 FY26
What went well
- Q4 FY26 revenue grew by 19% YoY to ₹2,290 Crores, driven by radiopharma, allergy immunotherapy, CDMO sterile injectables, and generics.
- Full Year FY26 revenue grew by 14% YoY to ₹8,280 Crores, with growth across all business units, particularly CDMO Sterile Injectables.
- Full Year FY26 Normalized PAT grew by 7% to ₹442 Crores due to improved operating performance.
What to watch
- Q4 FY26 EBITDA margin decreased by 272 bps YoY to 15.7% due to shortage in supply of SPECT products in Radiopharmaceuticals and under-absorption of costs in CMO Montreal.
- Full Year FY26 EBITDA margins decreased by 99 bps YoY to 15.9% due to lower production at CMO Montreal, particularly in H2.
What Jubilant Pharmova Limited does
Jubilant Pharmova is an integrated global pharmaceutical company operating six businesses: Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, CRDMO (drug discovery and API), Generics, and Proprietary Novel Drugs. It manufactures and distributes radiopharmaceutical diagnostic and therapeutic products through its own US radiopharmacy network, makes allergenic extracts and venom immunotherapy products for the US and other markets, and runs contract manufacturing and drug-discovery operations serving global pharmaceutical and biotech customers. Its Generics arm develops and distributes solid dosage formulations into regulated markets, while its novel-drugs unit is developing precision oncology and auto-immune therapies.
Segments
- Radiopharma
- Allergy Immunotherapy
- CDMO Sterile Injectables
- CRDMO
- Generics
- Proprietary Novel Drugs
- US radiopharmacy network
- 45 radiopharmacies — 2nd-largest network in the US
- PET manufacturing facilities
- 3 operational facilities
- CDMO sterile-injectables plants
- Spokane, Washington (US) and Montreal, Canada
- CRDMO research centres
- 3 world-class research centres — 2 in India, 1 in France
- API manufacturing facility
- Nanjangud, Karnataka, India (US FDA-approved)
- Generics manufacturing facility
- Roorkee, Uttarakhand, India
Guidance record · Q4 FY26
what the last two calls moved 15 tracked 3 delivered 1 missed 11 open- Radiopharmacy Breakeven delivered said Q1 FY23 Promised: Breakeven in FY24 Q4 FY26: This past promise was not discussed.
- EBITDA Margin at risk said Q3 FY25 Promised: 23-25% by FY30 Q4 FY26: FY26 EBITDA margin was 15.9%, down 99 bps YoY. While H2 FY27 guidance is for 17-18%, the current level and negative trend are significantly below the trajectory needed to reach 23-25% by FY30.
- Total Revenue on track said Q3 FY25 Promised: ₹13,500 crores by FY30 Q4 FY26: FY26 revenue reported at ₹8,280 Cr, a 14% YoY growth. This trajectory is consistent with the long-term goal, which requires a ~13% CAGR from this base.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 12.8%, net profit up 25.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 61 | 56 | 61 | 60 | 66 +8% | 67 +20% | 70 +16% | 67 +13% |
| EBITDA | 10 | 10 | 11 | 10 | 12 +18% | 12 +22% | 15 +33% | 12 +17% |
| Net profit | 11 | 5 | 14 | 6 | -6 −161% | 7 +25% | 57 +321% | 7 +26% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −10.0% 1Y
1Y: ₹1,139.6 on 10 Sept 2025 → ₹1,025.2. High ₹1,181.2 (4 Nov 2025), low ₹807.65 (11 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −0.5%
- 22 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 65.3% a year over 3 years, FY23 to FY26. Operating margin widened to 18.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹6.3k Cr | ₹785 Cr | ₹231 Cr | ₹264 Cr |
| Operating profit | ₹771 Cr | ₹17 Cr | ₹41 Cr | ₹49 Cr |
| Operating margin | 12.3% | 2.1% | 17.6% | 18.5% |
| Interest | ₹189 Cr | ₹30 Cr | ₹13 Cr | ₹7 Cr |
| Depreciation | ₹554 Cr | ₹48 Cr | ₹7 Cr | ₹6 Cr |
| Net profit | ₹-64 Cr | ₹32 Cr | ₹19 Cr | ₹63 Cr |
| Net margin | -1.0% | 4.0% | 8.3% | 24.0% |
| Cash from operations | ₹-65 Cr | ₹143 Cr | ₹136 Cr | ₹94 Cr |
| Free cash flow | ₹-124 Cr | ₹76 Cr | ₹115 Cr | ₹74 Cr |
| ROCE | 4.0% | 3.0% | 2.0% | 2.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr |
| Reserves | ₹1.3k Cr | ₹2.4k Cr | ₹2.4k Cr | ₹2.4k Cr | ₹6.6k Cr | ₹2.3k Cr |
| Borrowings | ₹504 Cr | ₹183 Cr | ₹346 Cr | ₹380 Cr | ₹2.9k Cr | ₹53 Cr |
| Other liabilities | ₹58 Cr | ₹274 Cr | ₹248 Cr | ₹237 Cr | ₹4.0k Cr | ₹68 Cr |
| Total liabilities | ₹1.8k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹3.0k Cr | ₹13.5k Cr | ₹2.4k Cr |
| Fixed assets | ₹127 Cr | ₹637 Cr | ₹687 Cr | ₹711 Cr | ₹7.4k Cr | ₹116 Cr |
| Capital work in progress | ₹0 Cr | ₹35 Cr | ₹47 Cr | ₹37 Cr | ₹2.3k Cr | ₹12 Cr |
| Investments | ₹1.6k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹45 Cr | ₹2.2k Cr |
| Other assets | ₹71 Cr | ₹578 Cr | ₹617 Cr | ₹587 Cr | ₹3.8k Cr | ₹129 Cr |
| Total assets | ₹1.8k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹3.0k Cr | ₹13.5k Cr | ₹2.4k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +2.88 pp while FIIs trimmed −1.53 pp. The shareholder count shrank 17% to 82,703.
- Promoters
- 47.7%
- FIIs
- 15.9%
- DIIs
- 12.4%
- Public
- 23.5%
- Others
- 0.6%
Since Jun 2025
- DIIs +2.88 pp
- FIIs −1.53 pp
- Public −1.33 pp
How it drifted, 12 quarters
Over this window DIIs went from 1.6% to 12.4% — +10.8 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 50.7%, FIIs 23.2%, DIIs 1.6%, Public 23.9%, Others 0.6%.Dec '23: Promoters 50.7%, FIIs 20.3%, DIIs 2.9%, Public 25.6%, Others 0.6%.Mar '24: Promoters 50.7%, FIIs 19.1%, DIIs 3.8%, Public 25.9%, Others 0.6%.Jun '24: Promoters 50.7%, FIIs 19.5%, DIIs 4.1%, Public 25.2%, Others 0.6%.Sep '24: Promoters 50.7%, FIIs 17.9%, DIIs 5.7%, Public 25.2%, Others 0.6%.Dec '24: Promoters 50.7%, FIIs 17.0%, DIIs 7.0%, Public 24.8%, Others 0.6%.Mar '25: Promoters 50.7%, FIIs 17.2%, DIIs 7.0%, Public 24.5%, Others 0.6%.Jun '25: Promoters 47.7%, FIIs 17.4%, DIIs 9.5%, Public 24.8%, Others 0.6%.Sep '25: Promoters 47.7%, FIIs 16.6%, DIIs 10.5%, Public 24.6%, Others 0.6%.Dec '25: Promoters 47.7%, FIIs 16.0%, DIIs 11.2%, Public 24.6%, Others 0.6%.Mar '26: Promoters 47.7%, FIIs 15.9%, DIIs 11.6%, Public 24.3%, Others 0.6%.Jun '26: Promoters 47.7%, FIIs 15.9%, DIIs 12.4%, Public 23.5%, Others 0.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Bandhan Small Cap Fund Mutual fund +0.85 pp 3.21% held
- Theleme India Master Fund Limited FPI fund +0.20 pp 1.89% held
- Rekha Jhunjhunwala - 2 +0.13 pp 3.28% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Jubilant Pharmova Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Spb Trustee Company Pvt Ltd | 20.08% | unchanged |
| Hsb Trustee Company Pvt Ltd | 19.00% | unchanged |
| Miller Holdings Pte Ltd | 3.28% | unchanged |
| Rekha Jhunjhunwala - 2 | 3.28% | +0.13 pp |
| Bandhan Small Cap Fund Mutual fund | 3.21% | +0.85 pp |
| Mav Management Advisors Llp | 3.15% | unchanged |
| Government Pension Fund Global Sovereign | 3.10% | −0.07 pp |
| East Bridge Capital Master Fund I Ltd FPI fund | 2.53% | unchanged |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund Mutual fund | 2.41% | unchanged |
| Theleme India Master Fund Limited FPI fund | 1.89% | +0.20 pp |
| Quant Mutual Fund - Quant Small Cap Fund Mutual fund | 1.85% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.25% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in JUBLPHARMA
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.02 L shares (+0.2%).
- Held by funds
- ₹95 Cr
- 7 schemes
- Biggest holder
- HDFC Manufacturing Fund
- ₹47 Cr · 0.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Manufacturing Fund HDFC Mutual Fund | ₹47 Cr | held | Jun '25 |
| HDFC Pharma and Healthcare Fund HDFC Mutual Fund | ₹30 Cr | held | Mar '24 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹11 Cr | +0.02 L | Sep '21 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹6 Cr | +0.01 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 1 trimmed — net +2,300 shares (+0.2%)
- Funds are sitting on
- +5%
- vs est. average cost
- Held by funds
- ₹95 Cr
- 7 schemes · ≈ 0.64% of the company
- Biggest holder
- HDFC Manufacturing Fund
- ₹47 Cr · 0.4% of that fund
- Longest holder
- Nippon India Nifty Smallcap 250 Index Fund
- 5y · since Sep '21
Shares held by these funds +67%
Aug '23 10.23 L shares Jul '26
All earnings calls (6)
Read the Q4 FY26 call →Learn to analyse Jubilant Pharmova Limited
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