JUBLPHARMA · Healthcare
Jubilant Pharmova Ltd. reported revenue of ₹2,229 cr for April to June 2026, +17.3% on the year and −2.7% on the quarter. That is faster than this quarter has grown in recent years (+9.4% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹8,607 cr, +16.2% on the four before.
Operating profit (EBITDA) was ₹248 cr, a margin of 11.1%, −413 bps on the year and −368 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 11.1% to 17.9%). Operating costs grew +23.0%, faster than revenue at +17.3%, so operating profit grew less than sales.
Net profit was ₹56.0 cr, −45.1% on the year and −52.9% on the quarter, with earnings per share of ₹3.55. Profit before other income, one-offs and tax fell 53.5%, so 8 points of the headline growth came from outside the core business. The tax rate was 35% against an average of 28% over the previous 8 quarters, which weighed on profit this quarter. Profit over the last four quarters totals ₹351 cr, −23.0% on the four before.
On earnings per share of ₹22.11 over the last four quarters, the stock at ₹964.10 trades at 43.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Operating margin fell sharply on the year. Pricing, input costs, or mix?
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,680 cr | ₹1,677 cr | ₹1,759 cr | ₹1,732 cr | ₹1,752 cr | ₹1,822 cr | ₹1,929 cr | ₹1,901 cr | ₹1,966 cr | ₹2,122 cr | ₹2,290 cr | ₹2,229 cr |
| YoY | — | — | — | +9% | +4% | +9% | +10% | +10% | +12% | +16% | +19% | +17% |
| EBITDA margin | 14.4% | 13.0% | 15.4% | 14.5% | 16.5% | 15.8% | 17.9% | 15.3% | 17.3% | 13.6% | 14.8% | 11.1% |
| Other income, % of PBT | 19% | 49% | — | 82% | 6% | −8% | 4% | 8% | 2% | −20% | 6% | 23% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 37% | 34% | — | 4% | 29% | 23% | 27% | 34% | 37% | 40% | 32% | 35% |
| Net profit | ₹62.0 cr | ₹66.0 cr | −₹62.0 cr | ₹482 cr | ₹102 cr | ₹101 cr | ₹151 cr | ₹102 cr | ₹120 cr | ₹56.0 cr | ₹119 cr | ₹56.0 cr |
| YoY | — | — | — | +7,933% | +65% | +53% | — | −79% | +18% | −45% | −21% | −45% |
| Core profit YoY | — | — | — | +463% | +72% | +169% | +103% | +58% | +37% | −20% | −16% | −54% |
| EPS | ₹3.92 | ₹4.19 | −₹3.68 | ₹30.26 | ₹6.45 | ₹6.33 | ₹9.64 | ₹6.46 | ₹7.55 | ₹3.51 | ₹7.50 | ₹3.55 |
| Flags | · | 2 | · | 3 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Jubilant Pharmova Ltd. reported revenue of ₹2,229 cr (+17.3% on the year) and net profit of ₹56.0 cr (−45.1% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved −53.5% on the year, against −45.1% for reported profit.
1 check raised a question: Operating margin fell sharply on the year. Pricing, input costs, or mix?
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