Jubilant Pharmova Limited (JUBLPHARMA) AI Stock Analysis

• Market Cap: ₹136.46B
• Dividend Yield: 0.46%
• Average Volume (3M): 7.42K
• Price to Earnings (P/E): 76.0
• Beta (1Y): 1.10
• Revenue Growth: 10.09%
• EPS Growth: -19.40%
• Country: IN
• Employees: 5,399
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 5.00
• Shares Outstanding: 159,281,140
• 10 Day Avg. Volume: 4,911
• 30 Day Avg. Volume: 7,424
• PEG Ratio: 0.02
• Price to Book (P/B): 2.33
• Price to Sales (P/S): 2.01
• P/FCF Ratio: -334.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,310.00
• Price Target Upside: 24.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 35.3
• Revenue Forecast (FY): ₹80.99B

• Rating: 62 Neutral
• Price Target: ₹908.00 ▼(-14.02% Downside)
• Action: Reiterated Date: 11/01/25
• Date: Action: Reiterated 11/01/25

Jubilant Pharmova Limited's stock score is primarily influenced by solid financial performance, with notable revenue growth and operational efficiencies. However, cash flow challenges and a high P/E ratio weigh down the score. Technical indicators suggest a neutral to slightly bullish trend, but valuation concerns limit the overall attractiveness of the stock.

Positive Factors

Diversified life‑sciences revenue streams

A multi‑pillar business (CDMO, radiopharma, allergy therapy, generics) reduces reliance on any single product or customer. This structural diversification stabilizes revenue, smooths cash cycles across segments, and supports durable contract and product-based earnings over months to years.

Manufacturing and R&D capabilities for regulated markets

Owning regulated-market manufacturing and R&D creates a sustainable competitive barrier: it enables long-term CDMO contracts, higher-value regulatory work, and faster scale‑ups. This structural capability supports recurring revenues and customer stickiness over the medium term.

Improved margins and steady revenue growth

Margin expansion alongside near‑9% revenue growth and rising ROE indicates enhanced operational efficiency and pricing or mix improvements. These durable margin gains can fund reinvestment and strengthen competitiveness if maintained across cycles.

Negative Factors

Negative free cash flow due to high capex

Sustained negative free cash flow from heavy capex strains liquidity and limits internally available funds for dividends, debt reduction, or M&A. Over a 2–6 month horizon, financing needs or delayed returns on investment could pressure financial flexibility.

Modest net profit margin / uneven profit conversion

A modest net margin near 11.6% means revenue gains translate only partially to bottom‑line improvements. This structural constraint makes earnings sensitive to cost inflation or pricing pressure and requires sustained efficiency to materially boost shareholder returns.

Declining EPS growth

A large negative EPS growth rate indicates volatility in reported earnings or one‑off impacts that have materially reduced per‑share profits. Persisting EPS decline undermines earnings power and may reflect margin, mix, or non‑recurring issues needing resolution for durable recovery.

Jubilant Pharmova Limited Business Overview & Revenue Model

Company Description

Jubilant Pharmova Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Pharmaceuticals; Contract Research & Development Services; and Proprietary Novel Drugs. The Pharmaceuticals segment engages in the manufacturing and supply of allergy therapy products, contract manufacturing of sterile injectables and non-sterile products, active pharmaceutical ingredients, and solid dosage formulations, as well as sale of radiopharmaceuticals through a network of 48 radio pharmacies in the United States. The Contract Research & Development Services segment provides collaborative research services to pharmaceutical innovators. The Proprietary Novel Drugs segment develops therapies in the areas of oncology and auto-immune disorders. The company was formerly known as Jubilant Life Sciences Limited and changed its name to Jubilant Pharmova Limited in February 2021. The company was incorporated in 1978 and is headquartered in Noida, India.

How the Company Makes Money

Jubilant Pharmova makes money through a portfolio of life-sciences revenue streams: (1) CDMO/services revenue: It earns fees and manufacturing margins by providing contract research, development, and manufacturing services for pharmaceutical customers. This includes producing active pharmaceutical ingredients (APIs), intermediates, and finished dosage forms on a contract basis, as well as related development/scale-up and regulatory-support services; revenues typically come from long-term supply agreements, project-based development work, and recurring commercial manufacturing once a customer’s product is launched. (2) Radiopharmaceuticals: It generates revenue by manufacturing and supplying radiopharmaceutical products used in nuclear medicine/diagnostics, including associated distribution and supply arrangements where applicable; earnings are driven by product sales volumes and customer/site coverage in served markets. (3) Allergy therapy: It sells allergy therapy products (such as allergen extracts and related immunotherapy offerings) to healthcare providers and/or distributors; revenue is derived from product sales and any associated service components in this business. (4) Generics/finished-dosage pharmaceuticals: It earns revenue from the sale of generic medicines/finished dosage formulations in markets it serves, typically through a mix of direct sales and channel/distribution partners depending on geography; profitability is influenced by product mix, market competition, pricing, and regulatory approvals. Company-wide, performance and cash generation are influenced by factors such as customer diversification and contract wins in CDMO, product approvals and compliance in regulated markets, manufacturing utilization, and the mix of higher-value specialty segments (e.g., radiopharma and allergy) versus commoditized generics.

Jubilant Pharmova Limited Financial Statement Overview

Summary

Jubilant Pharmova Limited shows solid revenue growth and improved operational efficiencies, as evidenced by enhanced gross and EBIT margins. The balance sheet reflects financial stability with manageable leverage. However, cash flow challenges, particularly negative free cash flow, are a concern that needs addressing for sustained growth.

Income Statement

Jubilant Pharmova Limited showed significant improvement in its gross profit and EBIT margins in the latest year, indicating enhanced operational efficiency. The revenue growth rate was robust at 8.86% year-on-year, suggesting positive momentum. However, the net profit margin remained relatively low at 11.60%, highlighting challenges in converting revenue to net income. The overall income statement reflects a healthy but uneven profit trajectory.

Balance Sheet

The balance sheet of Jubilant Pharmova Limited reveals a stable financial position with a debt-to-equity ratio of 0.44, indicating manageable leverage. The equity ratio stood at 49.02%, showing a strong equity base relative to total assets. Return on equity improved to 13.42%, reflecting enhanced shareholder returns. The balance sheet portrays financial stability with a moderate risk profile.

Cash Flow

Despite a strong operating cash flow, the company experienced a decline in free cash flow due to high capital expenditures, resulting in negative free cash flow. The free cash flow to net income ratio is unfavorable, signaling cash management challenges. However, the operating cash flow to net income ratio is solid at 1.28, indicating effective cash generation from operations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	76.18B	72.34B	67.03B	62.82B	61.30B	60.99B
Gross Profit	42.43B	46.99B	43.52B	42.00B	46.42B	45.63B
EBITDA	12.02B	10.48B	7.93B	6.46B	10.66B	14.68B
Net Income	4.78B	8.39B	771.00M	-610.00M	4.14B	8.36B
Balance Sheet
Total Assets	135.21B	127.56B	115.48B	111.57B	99.91B	89.18B
Cash, Cash Equivalents and Short-Term Investments	6.23B	10.89B	9.56B	10.15B	9.86B	6.89B
Total Debt	28.83B	27.31B	36.64B	36.77B	31.92B	28.30B
Total Liabilities	69.50B	65.18B	61.27B	57.65B	46.74B	41.77B
Stockholders Equity	65.92B	62.55B	54.34B	53.99B	53.19B	47.41B
Cash Flow
Free Cash Flow	-3.71B	-435.00M	736.00M	-1.54B	2.38B	12.57B
Operating Cash Flow	3.69B	10.72B	9.71B	6.61B	8.38B	17.84B
Investing Cash Flow	-6.31B	4.88B	-6.08B	-5.44B	-3.80B	-7.39B
Financing Cash Flow	-1.84B	-14.53B	-4.33B	-1.57B	-325.99M	-17.09B

Jubilant Pharmova Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1056.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JUBLPHARMA, the sentiment is Negative. The current price of 1056.1 is above the 20-day moving average (MA) of 851.44, above the 50-day MA of 930.48, and below the 200-day MA of 1068.31, indicating a neutral trend. The MACD of -27.02 indicates Negative momentum. The RSI at 45.38 is Neutral, neither overbought nor oversold. The STOCH value of 84.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:JUBLPHARMA.

Jubilant Pharmova Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NATCOPHARM	76 Outperform	₹171.50B	26.69	―	0.57%	-3.79%	-20.88%
GRANULES	73 Outperform	₹142.51B	24.17	―	0.24%	8.14%	5.18%
CAPLIPOINT	69 Neutral	₹125.36B	21.31	―	0.31%	11.41%	19.22%
JUBLPHARMA	62 Neutral	₹136.46B	76.03	―	0.46%	10.09%	-19.40%
APLLTD	60 Neutral	₹132.83B	31.27	―	1.28%	11.42%	-1.91%
NEULANDLAB	60 Neutral	₹159.19B	119.97	―	0.08%	0.34%	-14.13%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Jubilant Pharmova Limited Corporate Events

Jubilant Pharmova Creates Canadian Arm to Build Branded Generics Business

Jubilant Pharmova’s step-down subsidiary, Jubilant Generics Limited, has invested CAD 30,000 (about INR 0.20 crore) in Jubilant Pharmaceuticals Inc., a newly incorporated Canadian entity that will operate in the pharmaceuticals industry and is yet to commence business operations. With this initial cash investment, Jubilant Pharmaceuticals Inc. becomes a step-down wholly owned subsidiary, providing the group a direct platform to build a branded generics business in Canada, strengthen its presence in the Canadian market, and support future revenue growth without requiring additional regulatory approvals for the acquisition.

Jubilant Pharmova Subsidiary to Appeal Rs 9.71 Crore GST Demand, Sees No Material Impact

Jubilant Pharmova has disclosed that its wholly owned subsidiary, Jubilant Biosys Limited, has received an order from the Joint Commissioner of GST in Noida confirming a Goods and Services Tax demand of Rs 6.98 crore and a penalty of Rs 2.72 crore for the financial years 2020-21 to 2022-23, arising from alleged discrepancies in input tax credit claims. The company contends that the demand is legally untenable and based on frivolous grounds despite prior submission of documents, and it plans to challenge the order before the Commissioner (Appeals); management maintains that the case has strong merits, and asserts there will be no material impact on the group’s financials, operations or other activities, suggesting limited immediate risk for shareholders and other stakeholders.