J.B.
Chemicals & Pharmaceuticals Ltd.
J.B. Chemicals &
Pharmaceuticals Ltd. (JBCPL) has announced its standalone unaudited financial results
for the quarter ended on December 31, 2013.The highlights of the Y-o-Y results are
as under:
JB CHEM&PHA
|
Q3FY14
|
Dif% QoQ
|
Q2 FY14
|
Dif% YoY
|
Q3 FY13
|
|
Net sales
|
234
|
-5.26
|
247
|
17
|
200
|
|
Other Optg Income
|
5
|
-16.67
|
6
|
0
|
5
|
|
Total Income
|
240
|
-5.14
|
253
|
17.65
|
204
|
|
Total Exp
|
203
|
9.73
|
185
|
9.73
|
185
|
|
Operational Profit
|
37
|
-11.9
|
42
|
94.74
|
19
|
|
Other Income
|
21
|
200
|
7
|
200
|
7
|
|
Forex
|
10
|
-266.67
|
-6
|
42.86
|
7
|
|
Exceptional Item
|
-64.5
|
|||||
PBT
|
1.28
|
-96.82
|
40.26
|
-95.9
|
31.24
|
|
Tax
|
7.75
|
8.85
|
7.12
|
-17.2
|
9.36
|
|
Net Profit
|
-6.47
|
-119.52
|
33.14
|
-129.58
|
21.87
|
|
FV(Rs)
|
2
|
0
|
2
|
0
|
2
|
|
EPS
|
-0.76
|
-119.44
|
3.91
|
-129.46
|
2.58
|
|
EQUITY
|
16.94
|
0
|
16.94
|
0
|
16.94
|
|
Operating Profit without
exceptions/Non-recurring Items
Particulars Q3 9
Months
2013-14 2012-13 2013-14 2012-13
Profit before tax 48.13 31.24
115.89 84.91
Profit after tax 30.22 21.87 83.69 65.18
(In Cr)
The total
operating revenue for the quarter at Rs. 239.52 crores was 17.24% higher against
operating revenue achieved in the corresponding quarter in the previous year, while
the profit from operations for the quarter at Rs. 36.91 crores was 90.65%
higher against operating profit of the same quarter in the previous year. The
company was able to post robust operating performance during Q3 due to higher
sales coupled with favourable product mix.
The investors may
be aware that Cilag GmbH International ("Cilag") raised certain claims
under transaction documents in relation to sale of Russia-CIS OTC business undertaking
by the company in July 2011. The company had disputed these claims. However, in
order to avoid costs and delays involved in litigation, the company and Cilag
mutually settled these claims pursuant to the Settlement agreement.
Accordingly, the transaction consideration received earlier was reduced by Rs.
64.50 crores, which sum the company paid to Cilag in July 2013 out of the
Escrow account. This settlement has helped the company to focus on the
business. This exceptional payment has been accounted for as an expense in the
quarter under review, which has affected the reported profits. The Y-o-Y normal
business performance is tabulated above for easy analysis.
The domestic
formulations business at sales of Rs. 85.77 crores for the quarter registered overall
growth of 20.27%, while the year-to-date growth for the business is 16.26%. The
concentration on growth of focus products and better field efficiency has
helped achieve better performance in the domestic market.
The formulations
exports at Rs. 119.21 crores registered growth of 12.33% during the quarter,
while the year-to-date growth is 16.05%. Out of this, exports to Rest of the world
(RoW) markets at Rs. 100.71 crores for the quarter registered growth of 28.73%
in Rupee terms, whereas the year-to-date growth in RoW business is 20.33%.
During the quarter, the sales in Russia-CIS region amounted to Rs. 18.49
crores, while year-to-date sales stand at Rs. 69.21 crores.
The API business with sales for the
quarter at Rs. 26.41 crores registered growth of 59.20%, while the year-to-date
growth in this business is 70.14%.
About JBCPL:
JBCPL, one of
India's leading pharmaceutical companies, manufactures & markets a diverse
range of pharmaceutical formulations, herbal remedies and APIs. JBCPL exports
to many countries worldwide with a strong presence in Russia, Ukraine, CIS countries
and South Africa. The Company continues to invest in growing its share in the
regulated markets in USA, Europe and Australia. JBCPL has a strong R & D
and regulatory set-up for development of new drug delivery system and formulations, filing of DMFs and ANDAs. Its
State-of-the-Art manufacturing facilities are approved by health authorities of
regulated markets.
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