Conference Call with J B Chemicals & Pharmaceuticals Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company J B Chemicals & Pharmaceuticals announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: JB Pharma recorded revenue growth of 10% to Rs 949 crore Operating EBITDA registered YoY growth of 15% to Rs 240 crore; Operating EBITDA margins were at 25.3% (YoY improvement of 90 bps) Gross Profit improved by 12% to Rs 628 crore Despite the in-licensed opthal business which has limited margins, Gross Profit margins witnessed YoY improvement of 90 bps, reaching 66.1% Due to tight control on overheads, other expenses as percentage to sales reduced by 80 bps to 23.7% Depreciation increased to Rs 46 crore as compared to Rs 41 crore Finance cost reduced to Rs 1 crore vs Rs 9 crore on account of debt repayment during the year Other income was at Rs 14 crore vs Rs 17 crore PAT increased to Rs 146 crore in Q4FY25, recording YoY growth of 15% FY25 Financial Highlights: Total revenue for the organization grew 12% to Rs 3,918 crore Operating EBITDA surpassed Rs 1,000 crore for the first time to Rs 1,087 crore (YoY growth of 16%); Operating EBITDA margins improved by 70 bps to 27.7% Gross Margin witnessed improvement of 30 bps to 66.4% as compared to 66.1 % Non-cash ESOP costs was at Rs 55 crore v/s Rs 42 crore Other Expenses as a percentage to sales witnessed YoY improvement of 60 bps to 22.5% in FY25 Depreciation increased to Rs 171 crore from Rs 138 crore on account of amortization of acquired/inlicensed brands Effective tax rate for the year was 25.9% as compared to 26.5% Net Profit increased by 19% to Rs 660 crore Commenting on the financial results, Nikhil Chopra, CEO and Wholetime Director, JB Pharma mentioned, “We have closed the financial year FY25 on a strong note, in line with our strategic intent and sustained execution in the market. Our Domestic business continues to be one of the fastest growing in IPM. We have built a strong foundation over the last five years. With 75% of India branded formulations sales in progressive, faster-growing segments, we are confident in sustained strong performance going forward. The CDMO business which is another focus area bounced back strongly in second half of the year. Together our Domestic and CDMO business now constitute 69% of overall revenues - Both businesses enjoy high ROCEs & high operating margins and contributed strongly towards enhancing profitability of the organisation. Our outlook on growth is based on expansion within Domestic and CDMO businesses, as we have outlined consistently. A number of factors drive this growth include building on our existing brand franchises within India & executing key marquee projects in CDMO. We are confident therefore of charting superior growth and delivering improved profitability in the medium to longer term. Result PDF
Conference Call with J B Chemicals & Pharmaceuticals Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company J B Chemicals & Pharmaceuticals announced Q3FY25 results Financial Highlights: JB Pharma recorded revenue of Rs 963 crore in the third quarter of FY25 registering growth of 14% from Rs 845 crore in Q3FY24. Operating EBITDA (Earnings before Interest Depreciation and Taxes) improved by 15% to Rs 270 crore. Profit after Taxes registered strong growth of 22% to Rs 162 crore vs Rs 134 crore in Q3FY24. Other Highlights: JB Pharma registered revenue of Rs 963 crore in Q3FY25 (YoY growth of 14%) and Rs 2969 crore in 9MFY25 (YoY growth of 13%). Domestic formulations business recorded revenue of Rs 566 crore vs Rs 462 crore (YoY growth of 22%). JB Pharma continues to remain one of the fastest growing companies in the industry. International business revenue grew by 4% at Rs 397 crore vs Rs 383 crore. CDMO business showed improved traction recording growth of 33% for Q3FY25. Domestic and CDMO business revenue combined constitutes 70% of overall revenue for 9MFY25. Operating EBITDA was Rs 270 crore in Q3FY25 (YoY growth of 15%) and Rs 846 crore in 9MFY25 (YoY growth of 16%). Operating EBITDA margin improved to 28.1% for Q3FY25 YoY and improved to 28.5% for 9MFY25 YoY. Gross margins were at 67.1% for Q3FY25 and 66.5% for 9MFY25. Excluding ophthalmology business, gross margins improved for Q3FY25 and 9MFY25. Cost optimization efforts, favorable product mix and price growth positively impacted gross margin. Other expenditure as percentage to sales improved to 22.7% in Q3FY25 v/s 23.2% in Q3FY24. Depreciation expenses remained the same as Q2FY25 at Rs 42 crore. Finance cost reduced to Rs 3 crore vs Rs 12 crore due to decrease in gross debt. Gross debt was Rs 54 crore and Net Cash was Rs 516 crore as on Dec 31, 2024. Net Profit improved by 22% YoY to Rs 162 crore vs Rs 134 crore. Nikhil Chopra, CEO and Wholetime Director, JB Pharma, said: “JB has delivered consistent growth over last few years even amidst a volatile macroeconomic environment. This has been enabled by our mix of businesses and markets, specifically our focus on India branded formulations, CDMO, and select international markets which play to our strengths, with limited revenues in countries that might present trade-related or economic volatility challenges. JB is well-positioned to deliver continued growth going forward as well. The strategy and levers are well-defined, and we have a strong team that will execute. Our India business continues to drive market beating growth led by chronic business and progressive portfolio within the acute segment. Our export business continues to be steady with sequential improvement witnessed in our CDMO business. While the growth run-rate of JB’s quarterly performance has been maintained, we have also improved our operating margins driven by product mix and efficiency initiatives. Advancement of various new projects in the CDMO business will flow through into growth numbers in the near to medium term, and we have a good pipeline of future product commercialization opportunities in international business which will deliver continued growth.” Result PDF