Blue Jet Healthcare, founded in 1968 as Jet Chemicals by the late Shri BL Arora, is supported by its executive chairman, Akshay Bansarilal Arora. The business, which goes by the brand name “Blue Jet,” specializes in manufacturing active medicinal chemicals, high intensity sweets like saccharin and its salts, and intermediates for contrast media. Collaboration, product development, and production of complicated chemistry categories are the company’s main business focuses. The company has created more than 100 inventions over the last five decades, with over 40 of those goods being commercialized.
As of June 30, 2022, the corporation has no net debt. Annual and multiyear supply contracts with durations of one to four years underpin its revenue projections. Its order visibility has supported 60% of its sales over the past three years. The company has served more than 350 clients in 35 nations over the course of three years, including Colgate Palmolive (India) Ltd., Unilever, Prinova US LLC, and MMAG Co Ltd in the high-intensity sweetener market; Hovione Farmaciência, Olon S.p.A., Esperion Therapeutics Inc., and Bial-Portela & CA, S.A. for pharmaceutical intermediates, API, and CDMO; and GE Healthcare .
Europe accounted for 76.06% of Blue Jet’s revenue in FY22, with India (17.14%) and the United States of America (4.18%) following closely behind. Due primarily to an increase in revenue from the sales of contrast media intermediate and high-intensity sweeteners, its revenue from operations increased by 36.94% to Rs683.47 crore for the financial year 2022 from Rs498.93 crore for the financial year 2021. Meanwhile, its profit after tax increased by 33.73% to Rs181.59 crore for the financial year 2022 from Rs135.79 crore for the same period last year.
Tabletop sweeteners, oral care items like toothpaste and mouthwash, beverages (mainly soft drinks), confectionery items (such mints, candies, and bakery goods), pharmaceutical items, nutritional supplements, and animal feeds are the main applications for saccharin. The potential market for high intensity sweeteners, which was valued at $2.4 billion globally, is expected to grow at a 3-8% CAGR from FY 2021 to FY 2025.
The offer’s registrar is Link Intime India Private Limited, and the books running lead managers are Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and J.P. Morgan India Private Limited. It is proposed that the equity shares list on both the BSE and NSE.
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