JB Chemicals and Pharma Q3 Results: Profit up 22% as domestic biz outpaces market

JB Chemicals and Pharmaceuticals Ltd reported a healthy set of numbers for the third quarter of FY26, supported by broad-based growth across domestic and international businesses.

The company posted a net profit of ₹162.5 crore for the quarter, up 21.6% year-on-year from ₹133.6 crore. Revenue grew 14.1% to ₹963.5 crore, compared with ₹844.5 crore in the year-ago period.

Operating performance remained firm, with EBITDA rising 16.2% YoY to ₹295.8 crore. Operating margin expanded to 27.8%, up from 26.4%

a year earlier, reflecting better cost control, a favourable product mix and operational efficiencies.

The domestic formulations business continued to deliver steady momentum, recording YoY growth of 10% to ₹620 crore in Q3 FY26. As per IQVIA MAT December 2025 data, JB Pharma outperformed the Indian Pharmaceutical Market (IPM), clocking growth of 12% compared with IPM growth of 9%. Volume growth stood at 7.2%, well ahead of the IPM’s 2.1%.

Key brands such as Cilacar, Cilacar-T, Nicardia and Sporlac posted strong growth during the period, while the Razel franchise recorded an 11% year-on-year rise in sales to ₹108 crore.

International business revenue increased 12% year-on-year to ₹445 crore from ₹398 crore, aided by a strong performance in international formulations, alongside continued momentum in the CDMO business. Domestic and CDMO revenues together accounted for about 70% of overall revenue for the nine months ended FY26.

Other income rose sharply to ₹18 crore in Q3 FY26 from ₹8 crore a year earlier, largely on account of higher treasury income. Depreciation expenses increased marginally to ₹45 crore from ₹42 crore in Q3 FY25.

Commenting on the performance, Nikhil Chopra, Chief Executive Officer and Whole-time Director of JB Pharma, said the domestic formulations business once again outperformed the broader Indian pharmaceutical market, driven by momentum across key chronic therapies and flagship brands. He added that international formulations also recorded strong growth across several key markets, while the CDMO business maintained its positive trajectory.

“Our focus on cost optimisation, favourable product mix and operational efficiencies led to improved operating margins for Q3 FY26 as well as for 9M FY26. With a strong balance sheet, net cash position and sustained cash flow generation, we remain confident in our ability to deliver profitable growth,” Chopra said.

Shares of JB Chemicals and Pharmaceuticals ended at ₹1,899.50 on the NSE on Wednesday, up 0.22%, ahead of the earnings announcement.