JB Chemicals reports revenue growth of 10% yoy to Rs601 crore in Q3FY22

15 Feb 2022 , 02:16 PM

JB Chemicals & Pharmaceuticals Limited (JB), one of the fastest-growing pharmaceutical companies in India, on Monday announced its financial results for the third quarter ended December 31, 2021. For the third quarter ended December 31, 2021, the company recorded revenue of Rs601 crore as compared to Rs548 crore, registering a growth of 10% over the corresponding quarter of the previous financial year.

Underlying revenue growth for Q3FY22 was 23% (After excluding revenue deferred to Q3 FY21 from Q2FY21). Operating EBITDA (Earnings Before Interest Depreciation and Taxes) decreased by 10.5% to Rs153 crore as compared to Rs171 crore. Operating EBITDA growth impacted by revenue deferral in Q3FY21.

Profit after Tax stood at Rs84 crore in Q3FY22 as compared to Rs154 crore in Q3FY21 attributed to one off income due to trademark sale in Q3FY21 (~Rs34 crore), higher treasury income in Q3FY21, revenue deferment to Q3FY21 and non-Cash ESOP charge in Q3FY22.

For the nine months of the financial year 2021-22, the company recorded revenue of Rs1800 crore as compared to Rs1514 crore, registering growth of 19%. Operating EBITDA* (Earnings Before Interest Depreciation and Taxes) increased by 5% to Rs457 crore as compared to Rs437 crore. Adjusted EBITDA increased by 8% to Rs471 crore. Profit after Tax stood at Rs301 crore as compared to Rs348 crore registering decline of 13 %.

At around 2.20 pm, J B Chemicals & Pharmaceuticals Ltd was trading at Rs1,621.55 per share down by Rs47.4 or 2.84% from its previous closing of Rs1,668.95 per share on the BSE.

Commenting on financial results, Nikhil Chopra, CEO and Wholetime Director, JB said, ”Our performance in the third quarter reflects a strong business momentum in a macroeconomic environment that has continued to be challenging. Revenue growth in India saw positive traction from our renewed Go-To-Market model and product introductions resulting in JB maintaining its position as the fastest growing company among the Top-30 in the industry. Further, major parts of our international business including CMO witnessed gradual demand revival. Our margins reflect the significant increase in raw materials costs and persistent supply chain-related challenges. Going forward, we will maintain focus on driving topline growth, cost optimization and organizational efficiencies.”

He further added “We see multiple levers for outperformance — leveraging our existing Go-To-Market model strength; maximizing new introductions & lifecycle management opportunities and strengthening our international markets through portfolio augmentation. The acquisition of the brand portfolio from Sanzyme will further strengthen our domestic business and improve our market position. All these initiatives should translate into enhanced long-term value for all our stakeholders.”