JB Pharma delivered a strong Q2 FY26. **Business Performance**: Revenue grew 8% YoY to 1,085 Cr, with Domestic Formulations up 9% to 644 Cr, outpacing the market.

International business rose 7% to 441 Cr, buoyed by strong CDMO growth.

Net Profit surged 19% to 208 Cr, and Operating EBITDA increased 12% to 319 Cr, with margins expanding to 29.4%. **Growth Drivers or Strategy**: The company consistently outperforms the Indian pharmaceutical market, driven by robust growth in chronic and acute segments.

Key brands like Razel (+12% YoY, crossed 100 Cr sales) and Sporlac (nearly doubled in 3 years to 153 Cr) showed strong momentum.

Acquisitions like Azmarda and the Ophthalmology portfolio also contributed positively. **Recent Developments**: The ophthalmology portfolio, integrated smoothly from Novartis, saw 10% growth in H1 FY26. The CDMO division's momentum has returned, backed by a robust order book. **Management Outlook**: Management is confident in sustaining this positive momentum, focusing on operational and strategic goals to build an agile, future-ready organization.