JB Chemicals PAT jumps by a whopping 101% to Rs101cr in Q4; stock dips 2%

The Company recorded revenue of Rs528cr as compared to Rs444cr, registering a growth of 19 % over the corresponding quarter ended 31st March 2020.

Jun 15, 2021 02:06 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 fourth quarter and fiscal year ended 31st March 2021.

For the fourth quarter ended 31st March 2021, Profit after Tax was higher by 101% at Rs101cr as compared to Rs50cr.

The Company recorded revenue of Rs528cr as compared to Rs444cr, registering a growth of 19% over the corresponding quarter ended 31st March 2020.

The stock is currently trading at Rs1,513.10, down by Rs32.9 or 2.13% from its previous closing of Rs1,546 on the BSE.

EBITDA (Earnings Before Interest Depreciation and Taxes) increased by 35% to Rs124cr as compared to Rs92cr. EBITDA margin for the quarter was at 23% as compared to 21%.

Earnings Per Share (EPS) was at Rs57.96 for FY2021 as compared to Rs34.20 for FY2020. The Board of directors recommended a final dividend of Rs8 per share.

Commenting on financial results, Mr. Nikhil Chopra, CEO and Whole-time Director, JBCPL said, “Our financial performance for FY21 has been encouraging in one of the most challenging periods in recent history. We are pleased with the strength showcased by all our business units – with the India business continuing to record market-beating growth for the year - backed by a new consolidated go-to-market strategy with therapy diversification plans and strong transformation levers to sustain growth.”

“Our international formulations business has performed well and shows great promise with a focused growth strategy for our key markets, aided by new launches. Overall, our plans of strengthening R&D capabilities to support our medium to long-term growth opportunities and various cost efficiency initiatives instituted over the last year places us well to enhance value for all our key stakeholders,” Mr. Nikhil Chopra added.

Financial Highlights
• Operational and revenue momentum continues – with strong contribution from the Domestic Formulations and the International business.
• Domestic Formulations maintains secular outperformance as compared to IPM growth, driven by strength in chronic segments and expanding prescriber coverage
• Good sales traction and improvement seen in line with internal expectation in acute and hospital segments in the fourth quarter
• Margin performance continues to be encouraging, driven both by growth in topline and operating leverage
• Endeavor to drive cost excellence will continue even in the future
• Strong operating performance and subdued expenses base due to COVID-19 lockdown, led to healthy expansion in EBITDA margins and Profit Before Tax for the year
• Effective Tax Rate to remain at the current level of ~25%

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