Jubilant Pharmova to Sell & Transfer API Business to Jubilant Biosys Limited

Jubilant Pharmova Ltd. has announced the sale and transfer of its Active Pharmaceutical Ingredients (API) business to its wholly-owned subsidiary, Jubilant Biosys Limited, for a purchase consideration determined based on the book value of assets and liabilities as of the appointed date of business transfer. The rationale behind this transaction is to improve operational efficiency, strategic alignment, and asset utilization. The proposed business transfer is subject to customary approvals from lenders and shareholders. The vision for the API business is to grow revenues to 2x from FY24 levels and improve EBITDA margins to more than 15% by launching new API's and adding revenue mix towards custom manufacturing.