Jubilant Pharmova Limited (JUBLPHARMA) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Jubilant Pharmova Limited Q2 Results Date and Time

The board meeting is scheduled on November 13, 2026 to consider the Q2/H1 FY27 unaudited results, per the company's October 30, 2026 intimation.

An earnings webinar for Q2/H1 FY27 is scheduled for November 16, 2026, 8:30-9:30 am IST, per the company's November 2, 2026 announcement.

What to expect from Jubilant Pharmova Limited's Q2 FY27 results

The Q2 FY27 print is a transition quarter that tests whether Montreal SPECT batch releases occurred as guided in Q2, after the normalization timeline was pushed from Q2'FY27 to H2'FY27. Q1'FY27 revenue grew 17% YoY to Rs. 2,229 Cr, but EBITDA margin fell to 11.9%, the lowest of the last four quarters, on SPECT unavailability, negligible third-party revenues and incremental remediation costs at the CMO Montreal facility.

Management has quantified the H1 FY27 SPECT revenue impact at approximately $14 Mn, with about $7 Mn landing in Q1, and guided consolidated EBITDA margins of 17-18% by H2 FY27 alongside Radiopharma FY27 guidance of low double-digit revenue growth with 38-40% EBITDA margins. Line 3 at Spokane received USFDA approval on August 23, 2026, removing the regulatory gate on the USD 60-80 Mn FY27 revenue target, while Line 4 technology-transfer revenues are slated from Q4'FY27.

The upcoming call is expected to cover the margin bridge to the H2 guide, Montreal batch-release confirmation, and net debt/EBITDA versus the 'range bound' framing after the Rs. 800 Cr NCD allotment at 8.50% p.a.

Key Things To Watch

Guidance tracking: Key management targets the Q2 print and call will be measured against:

• Consolidated EBITDA margin 17-18% by H2 FY2027 — Q2'FY27 tests the H1-trough narrative after Q1'FY27's 11.9%
• SPECT batches released in Q2'FY27; all SPECT products available by H2'FY27 — confirm batch releases occurred; timeline already pushed from Q2'FY27 to H2'FY27
• Radiopharma FY27 — low double-digit revenue growth; 38-40% EBITDA margin — Q1'FY27 Radiopharmaceuticals margin was 34%
• Line 3 revenue USD 60-80 Mn in FY2027 — USFDA approval received August 23, 2026; Line 4 tech-transfer revenues from Q4'FY27
• Montreal — substantial EBITDA improvement in FY27, breakeven FY28; FY27 loss guided similar to FY26's Rs. 200 Cr
• MIBG NDA filing by H2'FY27 — timeline slipped from earlier 'data package by H2'FY26' targets
• Net Debt/EBITDA 'range bound' versus 1.8x TTM at Q1'FY27; capex FY27 similar to FY26's Rs. 1,668 Cr; net debt zero by 2030

Montreal SPECT recovery and remediation: The single biggest swing factor for the quarter:

• Commercial batch production started in Q1'FY27 post media-fills; batches guided for release in Q2'FY27 — no post-quarter confirmation yet
• Residual H1 SPECT revenue impact of roughly $7 Mn lands mostly in Q2 if releases slipped; management says 'We shall gradually reduce the dependence on CMO Montreal'
• Montreal remains under USFDA Warning Letter with incremental remediation costs flagged for FY27

Spokane Line 3 monetization and funding: Post-approval commercialization is the growth story to track:

• Line 3 USFDA approval received August 23, 2026; VAI classification for the June 2026 Spokane inspection announced September 11, 2026
• 10+ products in technology transfer on Line 3, 80% of the pipeline complex biologics; full utilization expected within 3 years of start
• Use of the Rs. 800 Cr NCD proceeds (8.50% p.a., allotted November 5, 2026) and the Rs. 2,500 Cr postal-ballot NCD authorization (voting ran October 22-November 20, 2026)

GST show cause notices and other follow-ups: Contested regulatory and expansion items on the agenda:

• Two GST SCNs with combined disclosed exposure of Rs. 192.81 Cr (Roorkee Rs. 105.50 Cr; Mysore Rs. 87.31 Cr) — company expects no financial or operational impact
• Kirkland CAD 94.5 Mn expansion with CAD 23.8 Mn Government of Canada support, doubling RUBY-FILL capacity, announced October 8, 2026
• Progress on 6 new PET facilities (operational by FY28) and the Drug Discovery FTE ramp to 2,000 by FY28

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Frequently Asked Questions

What EBITDA margin does Jubilant Pharmova expect in H2 FY27?

CFO Arun Kumar Sharma said H2 margins would be in the range of 17% to 18%, against Q1'FY27's 11.9%. No exact full-FY27 consolidated margin guidance was provided.

How is the SPECT supply shortage affecting Jubilant Pharmova's revenue?

Management quantified the H1 FY27 revenue impact from unavailable SPECT radiopharmaceutical products at approximately $14 Mn, with about $7 Mn hitting Q1'FY27. The impact is expected to normalize in H2 FY27 as Montreal batch releases progress.

When will API custom manufacturing revenues start for Jubilant Pharmova?

Management said API custom manufacturing revenues should be 'kicking in FY2027', with additional revenues also driving the margin profile of the API business.

Is Jubilant Pharmova on track with its Line 3 revenue guidance?

Line 3 at Spokane carries a FY2027 revenue guidance of USD 60-80 Mn, and USFDA approval for commercial manufacturing was received on August 23, 2026. Management flagged strong RFP traction on the isolator-based capacity, with full utilization expected within 3 years of start.