Jubilant Pharmova Limited (JUBLPHARMA.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-242.1%

-₹1,340.14

vs ₹943.00 price

Levered DCF

-₹335.20

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	32.46×	17.31×	118.23×	-72.81×	14.93×	18.89×	5.86×	18.19×
P/B	1.82×	2.33×	1.68×	0.82×	1.16×	2.29×	0.71×	2.17×
P/S	1.56×	2.01×	1.36×	0.71×	1.01×	1.78×	0.66×	1.15×
EV / EBITDA	12.07×	13.83×	13.07×	7.64×	6.87×	8.26×	4.44×	8.1×
Gross margin	30.1%	64.9%	64.9%	66.9%	75.7%	74.8%	75.6%	61.3%
Operating margin	9.9%	32.6%	30.8%	31.6%	41.9%	42.9%	43.8%	39.1%
Net margin	4.8%	11.6%	1.2%	-1.0%	6.8%	13.7%	15.0%	6.3%
Current ratio	1.62×	1.65×	2.05×	2.12×	2.2×	2.82×	1.92×	2.19×
Debt / equity	0.51×	0.44×	0.67×	0.68×	0.6×	0.6×	0.86×	1.01×
Interest coverage	3.87×	9.8×	7.58×	10.55×	17.65×	14.22×	13.11×	16.28×
Dividend yield	0.6%	0.5%	0.9%	1.8%	1.3%	0.0%	3.8%	0.5%
Payout ratio	19.9%	9.5%	103.5%	-131.2%	19.3%	0.2%	17.0%	9.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.6%	13.4%	1.4%	-1.1%	7.8%	17.6%	16.0%	11.9%
Return on invested capital	4.0%	18.4%	8.8%	-47.6%	18.9%	21.7%	16.2%	22.8%
Return on assets	2.6%	6.6%	0.7%	-0.5%	4.1%	9.4%	7.2%	5.0%
Free cash flow yield	-3.4%	-0.3%	0.8%	-3.5%	3.8%	11.6%	24.4%	4.5%
Earnings yield	3.1%	5.8%	0.8%	-1.4%	6.7%	7.7%	22.6%	5.5%
Enterprise value	₹152.8B	₹162.1B	₹118.3B	₹71B	₹83.9B	₹131.8B	₹75.5B	₹142.9B
Net debt / EBITDA	1.85×	1.4×	2.99×	2.87×	1.81×	1.46×	2.11×	2.18×
Cash conversion cycle (days)	47	63	138	166	244	200	271	107