Jubilant Pharmova has approved the re-appointment of its Managing Director and Joint Managing Director for a further term of three years. The Board of Directors approved the re-appointment of Mr. Priyavrat Bhartia as Managing Director and Mr. Arjun Shanker Bhartia as Joint Managing Director effective from June 1, 2026. The decision was taken during a board meeting held on May 22, 2026, and is subject to the approval of the shareholders.

The recommendations were based on the advice of the Nomination, Remuneration & Compensation Committee. Both directors were previously re-designated to their current roles in June 2023. The company disclosed the specific terms regarding the re-appointments in a regulatory filing submitted to BSE Limited and National Stock Exchange of India Limited.

Re-appointment Details

The table below outlines the key particulars for both directors as per the regulatory filing.

Director Profiles

Mr. Priyavrat Bhartia, 49 years old, possesses around 29 years of industry experience. He holds a Bachelor's Degree in Economics from Dartmouth College, USA, and a Master's in Business Administration from Stanford University, USA. He has served on the board since May 2017 and was re-designated as Managing Director in June 2023.

Mr. Arjun Shanker Bhartia, aged 39, is a graduate of Brown University, USA. He began his career as an Associate Consultant with Bain & Company and has been associated with Jubilant Pharmova Limited since May 2017. He was re-designated as Joint Managing Director with effect from June 2023. The board expressed confidence that the company will benefit significantly from their leadership and strategic contributions.

Jubilant Pharmova reported a 19% year-on-year increase in revenue to ₹2,290 Cr. for the quarter ended March 31, 2026. EBITDA for the quarter grew by 2% to ₹363 Cr., while Normalised PAT stood at ₹129 Cr. For the full financial year FY26, revenue increased by 14% to ₹8,280 Cr. and EBITDA rose by 8% to ₹1,326 Cr. Normalised PAT for the year grew by 7% to ₹442 Cr. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, on May 22, 2026. The company has submitted the copies of the published results to the stock exchanges on May 23, 2026.

Operational Performance and Outlook

The company witnessed a decline in EBITDA margins during the second half of the year, primarily attributed to the temporary shutdown of its CDMO Sterile Injectables facility in Montreal for remediation following FDA observations. Management anticipates that EBITDA margins will strengthen from H2 FY27 onwards, post the stabilisation of production at the Montreal facility. This improvement is expected to effectively offset higher depreciation costs and drive net profit growth.

Segmental Performance

Revenue growth was driven by strong performance across Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, and Generics. The CDMO Sterile Injectables segment reported a 38% YoY revenue growth to ₹1,755 Cr. in FY26, supported by the ramp-up of the third line at the Spokane facility. However, EBITDA margins in the Radiopharma segment were impacted by lower production of certain SPECT products at the Montreal facility.

The following table summarises the key financial metrics for Q4 and FY26:

Strategic Developments

Jubilant Pharmova continues to invest in capacity expansion, including a proposed investment of US$ 50 million in its PET manufacturing network to expand from three to nine sites. The company also successfully completed the sale and transfer of its API business to Jubilant Biosys Limited to create a combined platform for end-to-end CRDMO services. Looking ahead, the company expects growth momentum to strengthen in FY27, with EBITDA margins expected to improve in the second half of the year.