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*Operating EBITDA is after excluding non-cash ESOP charge and one off charges

Commenting on the financial results, Mr. Nikhil Chopra, CEO and Wholetime Director, JB Pharma stated “JB’s domestic business continued to outperform the market, with all major brands delivering robust growth. Our focus on driving steady volume growth across key brands — including recently acquired portfolios — continues to yield good results. On the international front, momentum in our CDMO business has returned, supported by a solid order book that positions us for further growth in the second half of the year.

Over the years, JB has consistently delivered strong revenue and margin performance. We are confident in sustaining this positive momentum as we progress toward our operational and strategic goals for the current year and beyond. As we chart the path ahead, our focus remains on building a progressive, agile, and future-ready organization.”

Financial Performance – H1 FY26 vs H1 FY25

For the first half of the financial year 2025-26, the Company recorded revenue of INR 2179 crores as compared to INR 2005 crores, registering growth of 9%. Operating EBITDA (Earnings Before Interest Depreciation and Taxes) increased by 13% to INR 649 crores as compared to INR 576 crores. Profit after Tax registered growth of 17% to INR 410 crores vs INR 351 crores in H1 FY25.

Key Highlights

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

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