Jubilant Pharmova Delivers Strong Q1 FY2025 with Revenue and Profit Growth

Jubilant Pharmova Limited reported positive results for the first quarter ended June 30, 2024 (Q1 FY2025).

Revenue Growth

• Total income grew by 9% year-over-year (YoY) to Rs. 1,746 crore, driven by:
• Growth in Ruby-Fill® and new product sales in radiopharmaceuticals.
• Volume growth in radiopharmacies.
• Continued momentum in the Allergy Immunotherapy business.
• Positive performance in CDMO Sterile Injectables.

Profitability Improvement

• Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) increased significantly by 50% year over year to Rs. 266 crore. This improvement reflects strong performance across all business segments, including Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, CRDMO, and Generics.
• Profit After Tax (PAT) for Q1 FY2025 was Rs. 482 crore. However, Q1 FY2025 normalised PAT, excluding extraordinary items, surged by 1,055% YoY to Rs. 69 crore, highlighting improved operational performance.

Debt Reduction and Balance Sheet Strengthening

• Following the receipt of stake sale proceeds from Sofie Biosciences Inc. (USD 115.9 million), Jubilant Pharmova implemented a strategic debt repayment of USD 75 million (equivalent to Rs. 626 crore) in June 2024.
• This initiative resulted in a significant reduction in net debt, from Rs. 2,509 crore as of March 2024 to Rs. 1,869 crore.
• Consequently, the net debt to EBITDA ratio improved from 2.5x to 1.7x, indicating a healthier financial position.

Sustainability Initiatives

• Jubilant Pharmova is committed to environmental responsibility. The company has embarked on a journey to implement renewable energy solutions across its manufacturing facilities in India.
• In Q1 FY2025, a subsidiary, Jubilant Biosys Limited, entered into agreements with Isharays Energy Two Private Limited to purchase renewable energy generated through a captive power arrangement for facilities in Noida and Greater Noida.
• Similar investments were approved in January 2024 to access renewable power for facilities located in Karnataka.

During the quarter, the wholly-owned subsidiary Jubilant Draximage Inc. announced an investment of USD 50 million to expand its PET radiopharmacy network by adding six (6) PET radiopharmacies in strategic locations throughout the United States.

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