Jubilant Pharmova appoints Ashish Mukkirwar as CFO

Jubilant Pharmova Limited has announced a change in its senior leadership, effective May 22, 2026. The company disclosed that Mr. Arun Kumar Sharma has relinquished his office as Chief Financial Officer (CFO) at the close of business hours on May 22, 2026. Following his resignation, Mr. Sharma has moved to a new role within the organization, serving as an Advisor to the Chairmen. The Board of Directors placed on record its appreciation for his valuable contributions and services during his tenure as CFO.

Concurrently, the Board of Directors, at its meeting held on May 22, 2026, approved the appointment of Mr. Ashish Mukkirwar as the new CFO and Key Managerial Personnel (KMP) of the company. This appointment was made on the recommendation of the Nomination, Remuneration and Compensation Committee and the Audit Committee. Mr. Mukkirwar will assume his new responsibilities effective May 23, 2026.

Profile of the New CFO

Mr. Ashish Mukkirwar brings over two decades of progressive experience to the role. His expertise spans corporate finance, business finance, capital markets, investor relations, mergers and acquisitions (M&A), and strategy. Prior to joining Jubilant Pharmova, he served as Group Vice President & CFO – Global Formulations Business at Glenmark Pharmaceuticals. Before that, he was the Group Vice President – Strategy, M&A, and Investor Relations at Glenmark for four years. His earlier career includes senior roles at Moelis & Company and UBS Investment Banking. Mr. Mukkirwar holds an MBA from the Indian Institute of Management, Kolkata.

Key Management Changes

The following table summarizes the changes in the company's financial leadership:

Sr. No.	Particulars	Details
1.	Name	Mr. Ashish Mukkirwar
2.	Reason for change	Appointment
3.	Date of appointment	May 23, 2026
4.	Name	Mr. Arun Kumar Sharma
5.	Reason for change	Resigned as Chief Financial Officer
6.	Date of cessation	Close of business hours of May 22, 2026

The company stated that the necessary disclosures regarding the appointment were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The relevant documents have been posted on the company's official website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.52%	+0.19%	+10.96%	-4.86%	+1.26%	+19.02%

Jubilant Pharmova reported its audited consolidated financial results for the financial year ended March 31, 2026. The company recorded total revenue from operations of ₹82,796 million for the year, compared to ₹72,345 million in the previous year. For the quarter ended March 31, 2026, revenue stood at ₹22,900 million, up from ₹19,288 million in the corresponding quarter of the previous year. Following the results announcement, the company has uploaded the audio recording of its earnings webinar held on May 22, 2026, to its website.

Financial Performance

The company reported a consolidated net profit of ₹3,975 million for the year ended March 31, 2026, a decrease from ₹8,363 million in the prior year. For the quarter ended March 31, 2026, the net profit was ₹1,193 million, compared to ₹1,513 million in the same period last year. EBITDA for the quarter was ₹3,415 million, with an EBITDA margin of 14.92%.

Metric	Year Ended Mar 31, 2026	Year Ended Mar 31, 2025
Total Revenue from Operations	₹82,796 million	₹72,345 million
Net Profit for the Period	₹3,975 million	₹8,363 million
Total Expenses	₹76,720 million	₹66,697 million

Operational Highlights

Revenue growth was driven by strong performance across all business segments, with CDMO Sterile Injectables delivering particularly robust growth. FY26 EBITDA increased by 8% year-on-year to ₹13,260 million. The Radiopharma segment revenue grew by 10% to ₹11,780 million, while the CDMO Sterile Injectables segment revenue surged by 38% to ₹17,550 million. The Allergy Immunotherapy segment revenue grew by 12% to ₹7,850 million.

The company noted that EBITDA margins were impacted during the year due to the temporary shutdown of its CDMO Sterile Injectables facility in Montreal for remediation following FDA observations. Management anticipates EBITDA margins to strengthen from H2 FY27 onwards post-stabilisation of production at Montreal. The company also completed the sale and transfer of its API business to Jubilant Biosys Limited during the year.

Dividend Declaration

The Board of Directors has recommended a final dividend of 500%, or ₹5 per equity share of face value ₹1 each, for the financial year ended March 31, 2026. The total dividend payout amounts to ₹796 million, subject to approval by shareholders. The company has fixed Friday, July 24, 2026, as the record date for determining eligibility for the dividend payment.