JB Chemicals Q4 Results: Company reports 43% jump in Q4 net profit, revenue grows 13%

Indian pharmaceutical company JB Chemicals & Pharmaceuticals Ltd announced its financial results for the fourth quarter of the fiscal year 2023-24 on May 17. The company reported a significant 43 percent increase in net profit, reaching Rs 126.2 crore for the January-March quarter, compared to Rs 83 crore in the same period last year.

Revenue from operations also showed strong growth, rising 13 percent to Rs 861.7 crore from Rs 762 crore in the year-ago quarter.

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At the operating level, JB Chemicals recorded an EBITDA of Rs 197.7 crore in the fourth quarter, an increase from Rs 163 crore in the corresponding period last year. EBITDA margins stood at 23 percent, compared to 21.4 percent in the previous year.

Nikhil Chopra, CEO & Whole Time Director, expressed confidence in the company’s growth prospects, stating, “With continued thrust on Domestic and CDMO businesses, we feel confident that the company will continue to deliver sustained revenue growth and improved operating margins in the medium to long term.”

The domestic business segment witnessed a 22 percent revenue growth, reaching Rs 465 crores. Excluding the recently added ophthalmology portfolio, organic growth for the domestic business was 13 percent.

The international business revenue grew 4 percent to Rs 397 crores. Notably, for the first time in any fourth quarter, the CDMO (Contract Development and Manufacturing Organization) business crossed the Rs 100 crore revenue mark.

JB Chemicals also announced some positive developments regarding its debt and investments. The company was able to lower its overall debt significantly. As of March 31, 2024, its gross debt stood at Rs 357 crores, down from Rs 548 crores at the end of the previous fiscal year on March 31, 2023. Additionally, JB Chemicals invested Rs 135 crores during the year, primarily to expand its manufacturing facility for lozenges in Daman. This capital expenditure is expected to boost the company’s production capacity and support future growth.