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Jubilant Pharmova Limited (JUBLPHARMA) Fair Value & Analysis

Healthcare · IN · Market cap ₹154B

JP Jubilant Pharmova Limited JUBLPHARMA · NSE
Price₹866.95
Fair Value₹491.33
Upside-43.3%
Quality43/100
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Expensive Growth
Thin margins · 4.8% net margin
Low debt · negative free cash flow
0.51% dividend yield
Trails peers (5/14)
Narrow moat 32/100
Evidence: High Range ₹343.93 – ₹638.73 Share as image

Fair value as of: Aug 16, 2026

From 16 valuation models · updated 2 days ago

Share price −15.2% over the past month.

Below-average quality, and screening another 43% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹638.73). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (₹343.93 to ₹638.73) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,264 ₹265.76 Fair Value ₹491.33 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

60‑month range ₹265.76 – ₹1,264 · fair‑value band ₹343.93 – ₹638.73 · the ₹866.95 price screens above the ₹491.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

Jubilant Pharmova Limited (JUBLPHARMA) currently trades at ₹866.95, while our model-based Fair Value estimate is ₹491.33, implying the stock looks roughly 43.3% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Jubilant Pharmova Limited generated revenue of ₹82.8B at a net margin of 4.8%. Revenue grew 18.7% year over year. It earns a return on equity of 6.0%. Net debt stands at ₹23.5B. Fundamentals as of Aug 16, 2026

Our scenario range runs from ₹343.93 (bear case) to ₹638.73 (bull case); at ₹866.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 31% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -43%, JUBLPHARMA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹348.53 ₹355.86 ₹352.26 76
ROIC Compounder ₹254.87 ₹315.28 ₹368.14 72
Gordon GGM ₹46.09 ₹95.82 ₹152.01 70
All 16 models by family
Earnings-Based
Graham-Dodd ₹171.09 ₹543.18 ₹723.83 54
Lynch FV ₹119.58 ₹170.84 ₹222.09 50
PEG = 1.0 ₹119.58 ₹170.84 ₹222.09 46
EPV ₹254.87 ₹315.28 ₹368.14 59
Dividend Discount
Gordon GGM ₹46.09 ₹95.82 ₹152.01 70
DDM Multi-Stage ₹46.09 ₹76.89 ₹100.57 61
Multiples
P/E Multiple ₹415.14 ₹553.52 ₹691.90 63
P/S Multiple ₹320.79 ₹427.72 ₹534.65 58
P/B Multiple ₹320.79 ₹427.72 ₹534.65 55
EV/EBIT ₹552.02 ₹771.89 ₹991.76 53
EV/EBITDA ₹727.57 ₹1,006 ₹1,284 54
EV/Revenue ₹363.19 ₹564.95 ₹766.71 43
Asset-Based
NCAV (Graham) ₹223.91 ₹300.04 ₹447.81 50
Economic Profit
Residual Income ₹348.53 ₹355.86 ₹352.26 76
ROIC Compounder ₹254.87 ₹315.28 ₹368.14 72
Growth Earnings
Growth-Adj P/E ₹343.93 ₹491.33 ₹638.73 68

Widest divergence: Multiples (₹553.52) versus Dividend Discount (₹76.89). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹82.8B
Revenue growth (YoY) +18.7%
Net margin 4.8%
Return on equity 6.0%
Free cash flow −₹4.4B FY2026
P/E ratio 34.6
More key figures
Operating margin 9.7%
EPS (TTM) ₹25.08
Dividend yield 0.5%
EPS growth (YoY) -22.4%
Net debt ₹23.5B FY2026

Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 44 · Market factors (momentum, volatility) 41

Profitability 31
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Jubilant Pharmova Limited operates as an integrated pharmaceutical company in India, the Americas, Europe, and internationally.

Full company description

Jubilant Pharmova Limited operates as an integrated pharmaceutical company in India, the Americas, Europe, and internationally. It operates through six segments: Radiopharma; Allergy Immunotherapy; Contract Development and Manufacturing Organisation - Sterile Injectables; Generics; Contract Research Development and Manufacturing Organisation; and Proprietary Novel Drugs. The Radiopharma segment offers radiopharmaceuticals products, which are used in the diagnosis and treatment of various diseases, including pulmonary embolism, cancer, coronary artery disease, and others. Its Allergy Immunotherapy segment provides specialised diagnostic devices for skin testing, as well as venom and allergy immunotherapy products. The Contract Development and Manufacturing Organisation - Sterile Injectables segment offers contract manufacturing services for sterile fill and finish injectables, liquids, ointments, creams, and ampoules. Its Generics segment engages in the development, manufacturing, distribution, sale, and marketing of generic formulations for therapeutic areas comprising cardiovascular system, central nervous system, gastrointestinal, antibiotics, and multispecialty. The Contract Research Development and Manufacturing Organisation segment offers drug discovery services and active pharmaceutical ingredients. The Proprietary Novel Drugs segment provides patient-focused biopharmaceutical services to address unmet medical needs in oncology and autoimmune diseases. The company serves pharmaceutical, biotech, group purchasing organisations, allergists, and hospitals sectors. It sells its products through a network of dealers and distributors. 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 based in Noida, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Jubilant Pharmova Limited reported revenue of ₹82.8B in FY2026 versus ₹61.3B in FY2022, a compound +7.8%/yr. Reported net income was ₹4.0B in FY2026, compounding −0.9%/yr from FY2022.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹82.8B
Latest YoY
+14.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.3%
Avg. growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.8%
Revenue +7.8%/yr
FY22 ₹61.3B
FY23 ₹62.8B
FY24 ₹67.0B
FY25 ₹72.3B
FY26 ₹82.8B
Net income −0.9%/yr
FY22 ₹4.1B
FY23 −₹610M
FY24 ₹771M
FY25 ₹8.4B
FY26 ₹4.0B
Character of growth · EPS growth decomposed (2016-2026) −1.4 % p.a.
Revenue per share +2.7 pp

of which total revenue +2.9 pp · buybacks/dilution −0.2 pp

EBIT margin −6.9 pp
Tax rate −0.2 pp
Residual (interest, one-offs) +3.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

JUBLPHARMA screens 43% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

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Cite: Fair Value Calculator (2026). "Jubilant Pharmova Limited Fair Value". https://www.fairvalue-calculator.com/stock/JUBLPHARMA

Peer Group

Drug Manufacturers - Specialty & Generic · 625 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 43 · Below median
Fair Value upside −43% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 4% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 10% · Above median
Revenue growth 19% · Top 25%
Dividend yield (TTM) 0.5% · Bottom 25%
Debt / equity 0.42× · Higher than 75% of peers

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 34.6× · Pricier than median
P/B 2.17× · Pricier than median
P/S (TTM) 1.86× · Cheaper than median
EV/EBITDA 13.6× · Pricier than median
PEG 0.14× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 7
FUTURE 94 · sector 20
PAST 24 · sector 24
HEALTH 79 · sector 96
DIVIDEND 10 · sector 32

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 -52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹8,500 ₹1,932 -77%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,915 ₹1,163 -76%
PharmaEssentia Corporation 6446 1,440 TWD 233.93 TWD -84%
Cipla Limited CIPLA ₹1,463 ₹1,001 -32%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,167 ₹703.32 -40%
Lupin Limited LUPIN ₹2,281 ₹2,477 +9%
Mankind Pharma Limited MANKIND ₹2,433 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,200 ₹874.79 -27%

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Frequently asked questions

Is Jubilant Pharmova Limited (JUBLPHARMA) overvalued or undervalued?
As of Aug 16, 2026, our model estimates a fair value of ₹491.33 versus a price of ₹866.95, about −43% (overvalued).
What is the fair value of JUBLPHARMA?
Our model-based fair value for Jubilant Pharmova Limited is ₹491.33 (as of Aug 16, 2026), built from audited fundamentals. The current price is ₹866.95.
What is the quality score of JUBLPHARMA?
Jubilant Pharmova Limited has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Jubilant Pharmova Limited (JUBLPHARMA)?
Jubilant Pharmova Limited reported trailing-twelve-month revenue of about ₹82.8B (latest available figure, as of Aug 16, 2026).
What is the net profit margin of JUBLPHARMA?
The net profit margin of Jubilant Pharmova Limited is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.
Does Jubilant Pharmova Limited pay a dividend?
Jubilant Pharmova Limited currently shows a dividend yield of about 0.51% relative to its recent price (as of Aug 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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