Jubilant Pharmova Ltd

USFDA approval details

• USFDA approved commercial batch manufacturing on Line 3 at Jubilant HollisterStier Spokane, WA.
• Line 3 is isolator-based fill-and-finish line.
• First product on the line will be manufactured for Jubilant HollisterStier LLC.
• Notification of approval received Aug 21, 2026, 12:46 PM PST (Aug 22 IST).
• Jubilant HollisterStier LLC is a subsidiary of Jubilant Pharma Holding Inc., a Jubilant Pharma Limited subsidiary.
• No revenue or cost figures disclosed in the release.
• Expands Jubilant Pharmova's contract manufacturing capacity for sterile injectables.

Resolutions and outcomes

• Special Resolution: Re-appoint Priyavrat Bhartia as Managing Director with remuneration; term not disclosed; 99.81% in favour.
• Special Resolution: Re-appoint Arjun Shanker Bhartia as Joint Managing Director with remuneration; term not disclosed; 99.87% in favour.

Financial highlights

• Revenue was Rs 2,229 Cr in Q1'FY27, up 17% year-over-year.
• Total Income stood at Rs 2,249 Cr, up 18% YoY.
• EBITDA Rs 268 Cr, margin 11.9%, down 385 bps YoY.
• Reported PAT Rs 56 Cr, margin 2.5%.
• Net debt/EBITDA at 1.8x; debt-to-equity 0.33x as of Jun 30, 2026.
• Capex: USD 60+ million for PET network expansion; Line 5 capex USD 114 million.

Segment performance

• Radiopharma revenue Rs 1,022 Cr, up 18%; EBITDA Rs 121 Cr; margin 12%.
• Radiopharmaceuticals revenue Rs 322 Cr, up 19%; EBITDA Rs 110 Cr; margin 34%.
• Radiopharmacies revenue Rs 700 Cr, up 17%; EBITDA Rs 12 Cr; margin 2%.
• Allergy Immunotherapy revenue Rs 214 Cr, up 18%; EBITDA Rs 66 Cr; margin 31%.
• CDMO Sterile Injectables revenue Rs 496 Cr, up 34%; EBITDA Rs 45 Cr; margin 9%.
• Spokane Line 3 revenue Rs 494 Cr, up 43%; EBITDA Rs 117 Cr; margin 24%.
• CRDMO revenue Rs 309 Cr; EBITDA Rs 64 Cr; growth modest due to mix.
• Drug Discovery Services revenue Rs 174 Cr; EBITDA Rs 45 Cr; margin 26%.
• Generics revenue Rs 173 Cr; EBITDA Rs 4 Cr; margin 2%.

Key developments and outlook

• US tariffs cited; management expects positive impact on CDMO Sterile Injectables.
• PET manufacturing expansion: USD 60+ million; 6 new sites; nine sites by FY28; operational FY28.
• Montreal Line 5 capex USD 114m; concessional loan ~USD 35m; installation by FY28; revenues from FY29.
• MIBG NDA filing targeted in H2 FY27; Line 3/4 peak revenue USD 80–90m each; combined USD 160–180m.
• Vision 2030: double revenues by FY30; EBITDA margin 23–25%; zero net debt; RoCE high teens.

Financial results and audit reviews

• Unaudited standalone Q1 2026 results approved for quarter ended 30 June 2026.
• Unaudited consolidated Q1 2026 results approved for quarter ended 30 June 2026.
• Audit Committee reviewed and Board approved results on 10 August 2026.
• Independent auditor's review reports issued for both standalone and consolidated results.
• Review reports indicate no material misstatement.

Shareholder compliance notice

• Newspaper advertisements published July 30, 2026 for transfer of equity shares and dividend to IEPF Authority.
• Notice available on the company website at www.jubilantpharmova.com.

Meeting Details

• Board meeting scheduled for August 07, 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited standalone and consolidated financial results for quarter ended June 30, 2026.

Other Notes

• No trading window closure period is specified.

Item 1: Priyavrat Bhartia – MD

• Special resolution to re-appoint Priyavrat Bhartia as Managing Director for three years.
• Term: June 1, 2026 to May 31, 2029; remuneration up to Rs 7.5 crore per annum.
• Board authorized to vary remuneration within approved limits; may exceed net profit thresholds.
• Promoter group member; related to Chairman Shyam Sunder Bhartia.
• MD not entitled to stock options under Jubilant Pharmova Employee Stock Option Plan.

Item 2: Arjun Shanker Bhartia – Joint MD

• Special resolution to re-appoint Arjun Shanker Bhartia as Joint Managing Director for three years.
• Term: June 1, 2026 to May 31, 2029; remuneration up to Rs 7.5 crore per annum.
• Board authorized to vary remuneration within approved limits; may exceed net profit thresholds.
• Promoter group member; related to Hari Shanker Bhartia, father.
• Joint MD not entitled to stock options under Jubilant Pharmova Employee Stock Option Plan.

Tax rectification outcome

• Rectification order dated July 15, 2026 deletes Rs 22.10 crore IT demand for AY 2020-21; ITAT appeal ongoing.