Pharmaceuticals company Jubilant Pharmova announced Q3FY24 & 9MFY24 results: Revenue and Income: - Total income for Q3FY24 increased by 10% YoY to Rs 1,713 crore. - EBITDA for Q3FY24 grew by 63% YoY to Rs 254 crore with EBITDA margin expansion of 490 basis points YoY. - The company reported a Profit After Tax (PAT) of Rs 66 crore in Q3FY24, showing a remarkable improvement compared to a PAT of (Rs 16 crore) in Q3FY23. - For 9MFY24, total income rose 8% YoY to Rs 4,999 crore. - EBITDA for 9MFY24 showed a 16% increase YoY, reaching Rs 684 crore with a 100 basis point margin expansion. Segment Performance: - Radiopharma revenue in Q3FY24 grew by 23% to Rs 752 crore and EBITDA increased significantly by 153% to Rs 161 crore. - Allergy Immunotherapy revenue for Q3FY24 saw a 9% increase to Rs 161 crore, with EBITDA rising by 16% to Rs 62 crore. - CDMO Sterile Injectables Q3FY24 revenue increased by 11% to Rs 303 crore, though EBITDA for Q3FY24 was affected by planned extended shutdowns, expected to improve in Q4. - CRDMO Q3FY24 revenue stood at Rs 252 crore, with EBITDA margins at 16% despite facing industry headwinds. - Generics segment Q3FY24 revenue was reported at Rs 199 crore with an improving EBITDA trend. Debt: - Total Gross Debt as of December 31, 2023, was reported at Rs 3,419 crore. showing a slight increase compared to Rs 3,410 crore. as of March 31, 2023. Key Priorities and Future Outlook: - Focus on leveraging the Radiopharma segment's stable and high-margin core portfolio for continuing leadership in North America. - Spotlight on Allergy Immunotherapy market share growth in the US through venom immunotherapy and expanding in non-US markets. - In CDMO Sterile Injectables, emphasis on executing a $370 million capacity expansion to support projected market growth. - In Generics, steps toward enhancing quality and engagement with the US FDA for Import Alert resolution at the Roorkee facility. - In CRDMO, the objective is to drive new customer acquisitions and invest in capabilities to improve productivity. - For Proprietary Novel Drugs, focus on progressing clinical trials for LSD1/HDAC6 inhibitors and capitalizing on strategic opportunities for non-dilutive funding. Sustainability Initiatives: - The company has entered into a power purchase agreement to meet 90% of its electricity demand from renewable sources for its facilities in Karnataka. Result PDF
Pharmaceuticals company Jubilant Pharmova announced Q2FY24 results: 1. Financial Results - Consolidated: - Total Revenue for Q2FY24 was Rs 1,680 crore, with a growth of 5% compared to Q2FY23. - Adjusted Revenue for Q2FY24 was Rs 1,704 crore, with a growth of 7% compared to Q2FY23. - Reported EBITDA for Q2FY24 was Rs 252 crore, with a margin of 15%. - Adjusted EBITDA for Q2FY24 was Rs 289 crore, with a margin of 17%. 2. Radiopharmaceuticals: - Revenue for Q2FY24 was Rs 251 crore, accounting for 15% of the company's revenue. - EBITDA margin for Q2FY24 was 53%. 3. Radiopharmacies: - Revenue for Q2FY24 was Rs 490 crore, accounting for 29% of the company's revenue. - EBITDA margin for Q2FY24 was 1%. 4. Allergy Immunotherapy: - Revenue for Q2FY24 was Rs 179 crore, accounting for 11% of the company's revenue. - EBITDA margin for Q2FY24 was 48%. 5. CDMO Sterile Injectables: - Revenue for Q2FY24 was Rs 301 crore, accounting for 18% of the company's revenue. - EBITDA margin for Q2FY24 was 19%. 6. Generics: - Revenue for Q2FY24 was Rs 172 crore, accounting for 10% of the company's revenue. - EBITDA margin for Q2FY24 was (29)%. 7. Drug Discovery Services: - Revenue for Q2FY24 was Rs 115 crore, accounting for 7% of the company's revenue. - EBITDA margin for Q2FY24 was 22%. 8. CDMO - API: - Revenue for Q2FY24 was Rs 165 crore, accounting for 10% of the company's revenue. - EBITDA margin for Q2FY24 was 9%. Result PDF
Jubilant Pharmova announced Q3FY23 results: Consolidated Q3FY23: Revenues were at Rs 1,553 crore vs Rs 1,311 crore in Q3FY22 and Rs 1,600 crore in Q2FY23. Reported EBITDA was at Rs 155 crore vs Rs 200 crore in Q3FY22 and Rs 232 crore in Q2FY23. In Q3FY23, we witnessed nil COVID-related deals vs Rs 89 crore in Q3FY22 and Rs 22 Crore in Q2FY22. Finance cost was at Rs 51 crore vs Rs 37 crore in Q3FY22 and Rs 42 crore in Q2FY23. Higher finance cost was on account of the increase in global interest rate benchmarks. 1M SOFR has increased from 3.05% in Q2FY23 to 4.36% in Q3FY23. Reported PAT was at –ve Rs 16 crore as compared with Rs 51 crore in Q3FY22 and Rs 5 crore in Q2FY23. EPS was at –ve Rs 0.98 vs. Rs 3.2 in Q3FY22 and Rs 0.34 in Q2FY23. Capital expenditure for the quarter was Rs 218 crore. Commenting on Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Pharmova Limited said: “During the quarter, the Company reported higher revenues YoY led by an increase in sales in Radiopharmacies, Allergy and CDMO-API businesses and stable revenues in Radiopharmaceuticals, CDMO Sterile Injectables and Drug Discovery Services businesses. The company’s profitability stood lower in Q3FY23 vs. YoY and QoQ due to lower Covid-related deals in the CDMO Sterile Injectables business, industry-wide issue of generator supply outage that impacted Radiopharmacies business, lower production in the CDMO-API business and lower volumes in Drug Discovery Services business. In Generics, the Company has undertaken a large-scale business transformation focused on turnaround through cost optimisations and driving growth in branded markets in India and select international markets. In FY24, Company’s profitability is expected to improve driven by growth in Radiopharmaceuticals, Allergy Immunotherapy and CDMO Sterile Injectables businesses. Recovery in Generics, API businesses and Radiopharmacies will also contribute to better profitability. The Company has several growth levers across its various businesses (Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Generics and CRDMO), which shall drive sustainable growth for the company in the medium term. In our Proprietary Novel Drugs business, we have several high potential programs, which are at the preclinical/clinical stage.” Result PDF