Jubilant Pharmova Ltd (JUBLPHARMA) Q1 FY27 Results Analysis: PAT Plunges 45%, Margin Collapses 410 bps

Jubilant Pharmova Ltd's Q1 FY27 numbers came in soft, with revenue of Rs. 2,229.40 Cr (+17.30% YoY) and PAT growth of -45.10% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quarter Snapshot

Revenue grew 17.3% YoY but EBITDA margin collapsed 410 bps to 11.1% and PAT declined 45.1% YoY. Margin pressure from SPECT shortage, Montreal FDA warning letter, and cost inflation overshadowed segment growth. Management's H2 margin recovery guidance faces steep headwinds.

Key Investment Insights

Key Positives

• Revenue grew 17.3% YoY to Rs.2,229.4 Cr
• Radiopharma segment revenue grew 17.7% YoY
• CDMO Sterile Injectables revenue surged 32.4% YoY
• Allergy Immunotherapy grew 12% YoY, gaining market share
• CRDMO margin improved from 8.7% to 10.9%

Risk Factors

• EBITDA margin collapsed 410 bps YoY to 11.1%
• PAT attributable to owners declined 45.1% YoY
• CDMO Sterile Injectables EBIT margin collapsed to 1.4% from 11.0% YoY
• Generics segment swung to EBIT loss of Rs.10.1 Cr
• Radiopharma EBIT margin fell from 11.4% to 7.6% due to SPECT shortage
• Employee costs rose 27.5% YoY, outpacing revenue growth