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Profit Before Tax (PBT) rose 19% year-on-year to Rs 122 crore in Q4 FY23. Operating EBITDA (Earnings Before Interest Depreciation and Taxes) (after excluding non-cash ESOP charge) increased by 21% to Rs 181 crore as compared to Rs 149 crore. Op. EBITDA magin (%) was flat at 23.8% in Q4 FY23.
Total employee cost incl. ESOP charge as a percentage to sales improved to 17.8% in Q4 FY23 vs 18.6% in Q4 FY22. Finance costs increased to Rs 14 crore for the quarter primarily due to term loan for brand acquisitions.
Domestic formulations business clocked revenue of Rs 380 crores recording growth of 29% for the quarter and was at Rs 1640 crore for FY23 with a growth of 38%.
International business performed well and grew at 16% to Rs 382 crore in the quarter and 22% to Rs 1509 crore for the financial year.
For the full year, net profit rose 6.35% to Rs 409.83 crore on 29.91% rise in net sales to Rs 3149.28 crore in the year ended March 2023 over the year ended March 2022.
Operating EBITDA registered growth of 26% to Rs 765 crore as compared to Rs 605 crore. Op. EBITDA magin (%) stood at 24.3% in FY23, lower than 24.9% in FY22. PBT rose 10% year-on-year to Rs 555 crore in FY23.
Gross debt was Rs 548 crore as on 31 March 2023. Cash and cash equivalents (including investments in mutual funds) was at Rs 282 crore. Net debt reduced by Rs 163 crore to Rs 266 crore as on 31 March 2023 as compared to Rs 429 crore on 31 December 2023.
J B Pharma is a pharmaceutical company and a leading player in the hypertension segment. Besides its strong India presence, which accounts for majority of its revenue, its other two home markets are Russia and South Africa. The company exports its finished formulations to over 40 countries including the USA.
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