Q2 FY26 vs Q2 FY25
- JB Pharma’s revenue grew 8% to INR 1085 crores vs INR 1001 crores
- Domestic formulations business recorded revenue of INR 644 crores vs INR 588 crores (YoY growth of 9%)
- The chronic as well as the acute segments performed well
- All the progressive brands and their respective franchises recorded good growth
- International business revenue grew by 7% at INR 441 crores vs INR 413 crores
- International formulations business showed stable performance and is on track to pick up in H2; the CDMO division delivered strongly and remains backed by a robust order book
Financial Overview Q2 FY26 vs Q2 FY25
- Operating EBITDA grew by 12% to INR 319 crores vs INR 285 crores
- Operating EBITDA margin was at 29.4% vs 28.4%
- Operating EBITDA margin for H1 FY26 was 29.8% vs 28.7% for H1 FY25
- Gross margin increased by 200 bps to 68.2% vs 66.2%
- Cost optimization efforts, favorable product mix and price growth positively impacted gross margin
- Overheads expenditure including employee cost have been kept under control which has aided operating margins
- Freight costs continue to remain escalated for international business
- Depreciation expenses increased marginally to INR 44 crores
- Net Profit improved by 19% to INR 208 crores vs INR 175 crores
Domestic Business Q2 FY26 vs Q2 FY25
- Domestic business continued its momentum and registered YoY growth of 9% to INR 644 crores
- Domestic business constitutes 61% of overall turnover in H1 FY26 as compared to 59% of revenue in H1 FY25
- JB Pharma continues to remain one of the fastest growing companies in the industry.
As per IQVIA MAT Sep’25 data -
- JB Pharma outperformed IPM and clocked YoY growth of 12% vs IPM growth of 8%
- JB Pharma volume growth is 5% as compared to IPM volume growth of 1.3%
- Razel franchise crosses INR 100 crores in sales
- Razel franchise recorded growth of 12% to INR 104 crores
- Our major brands viz. Cilacar, Cilacar-T, Metrogyl, Nicardia & Sporlac gained ranks as per IQVIA data
- JB Pharma now has 3 brands among the top 100 brands in IPM
International Business Q2 FY26 vs Q2 FY25
- International business revenue grew at 7% to INR 441 crores vs INR 413 crores
- International formulations business grew by 2% to INR 306 crores
- Russia market recorded strong growth for the quarter
- The other markets remained subdued in the second quarter, and we expect growth to bounce back in H2 FY26
- CDMO business grew by 20% to INR 113 crores for Q2 FY26
- Despite low base in Q2 FY25, CDMO sales growth momentum has been good
- API business recovered well and clocked revenue of INR 22 crores
