JB Chemicals & Pharma records revenue growth of 16% to Rs606cr in Q1FY22

EBITDA margin for the quarter was at 27% as compared to 29.8%.

Aug 13, 2021 05:08 IST India Infoline News Service

J. B. Chemicals & Pharmaceuticals Limited (JBCPL), one of the fastest growing pharmaceutical companies in India, announced its financial results for the first quarter ended 30th June, 2021.

For the first quarter ended 30th June 2021, the Company recorded revenue of Rs. 606 crores as compared to Rs. 522.3 crores, registering growth of 16% over the corresponding quarter ended 30th June, 2020.

EBITDA (Earnings Before Interest Depreciation and Taxes) increased by 5% to Rs. 163.7 crores as compared to Rs. 155.4 crores. EBITDA margin for the quarter was at 27% as compared to 29.8%. Profit after Tax was flat at Rs. 118.9 crores as compared to Rs. 119.4 crores.

Commenting on financial results, Mr. Nikhil Chopra, CEO and Wholetime Director, JBCPL said, “The organisation continues its strong performance well in the first quarter of the financial year. On the domestic front, we are one of the fastest growing companies in the industry. Our new Go- To-Market(GTM) model has been implemented and early signs are encouraging, which is reflected in the strong performance of flagship brands and new launches. While demand trends in international business continue to be volatile (given the COVID situation); our key markets like US, S Africa have outperformed and even Russia/ CIS are seeing gradual signs of revival. We expect the performance to improve in select pockets of our international business. Going forward, our priority continues to build on cost efficiency measures while maintaining the same growth momentum”

Financial Highlights

· The organization continues to perform well with revenue momentum continuing to remain strong

· Highest ever quarterly revenue recorded during the first quarter of FY21, despite lockdowns in key markets and supply chain challenges

· Domestic Formulations business records 39 % growth while the International business revenue was largely flat as compared to Q1 FY21

· As per MAT June 2021 IQVIA data, Domestic Formulations maintains secular outperformance compared to industry growth rates, driven by strength in chronic segments and expanding prescriber coverage

· Uncertainty in view of the second wave of COVID-19 impacted growth in certain geographies in the international market during the quarter

· Gross Margin profile continues to remain healthy at 64 % aided by good product mix

· EBITDA margin remains strong despite cost base returning to normal level of operations during Q1 FY 22

Domestic Formulations Business update

· As per MAT June 21 IQVIA data, Domestic Formulations business continues to outpace industry growth rate

· As per IQVIA, JBCPL recorded growth of 22.1 % in Q1 FY 22 as compared to Q1 FY 21

· Big brands continue to support growth momentum with market beating growth in covered market

· As per IQVIA Mat June 2021 data, JBCPL big brands recorded good growth - Rantac (37.3%), Cilacar (15.8 %), Cilacar-T (26.5 %), Metrogyl (49.6 %) and Nicardia (15.4 %)

· The new Go-To-Market model has been implemented and is functioning well providing a solid base for the organisation

· Launched a new dedicated division RENOVA to cater to the needs of Chronic Kidney Disease patients in the country

· During the quarter, the company also launched the NOVA division, which will focus on pediatric and respiratory segment in India

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