Jagsonpal Pharmaceuticals (JAGSNPHARM) Q3 25/26 earnings summary

Executive summary

• Leadership team strengthened with new CEO and CFO, focusing on long-term growth and operational excellence.

• Nine-month revenue for FY26 increased 6% year-over-year to ₹2,230 Mn, with operational PAT up 12.5% to ₹359 Mn and margins expanding by 95 bps to 16.1%.

• Q3 performance was flat or slightly down, with revenue at ₹729 Mn and operational PAT up 10% to ₹125 Mn, impacted by market headwinds and internal recalibration.

• Strong liquidity position maintained, with cash balances rising by ₹152 Mn in Q3 to ₹1,757 Mn.

• Statutory auditors conducted a limited review and found no material misstatements in the financial statements.

Financial highlights

• Q3 revenue at ₹729 Mn (INR 73 crores), down 1% year-over-year; EBITDA at ₹166 Mn with a margin of 22.7%.

• Q3 PAT grew 10% year-over-year to ₹125 Mn; PAT margin improved by 160 bps to 17.1%.

• Nine-month revenue up 6% year-over-year to ₹2,230 Mn; EBITDA up 5% to ₹503 Mn; PAT up 12.5% to ₹359 Mn.

• Free cash balance increased to ₹1,757 Mn as of Dec 31, 2025, up by ₹152 Mn in the quarter.

• Earnings per share (basic) for the quarter was ₹1.67, compared to ₹1.88 in the same quarter last year.

Outlook and guidance

• Confident of double-digit growth acceleration from Q4, targeting 12%-14% organic growth over the next 3-4 years barring macro changes.

• Growth initiatives and drivers include price increases, new product launches, and volume expansion.

• Expecting to outperform industry growth, aiming for 50% higher growth than the industry in the short term.

• The company continues to monitor the impact of new Labour Codes and will account for any additional effects as required.