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JB Pharma expects two “sweet spots” — its contract manufacturing and India region business — to drive growth this year, according to Nikhil Chopra, Chief Executive and Wholetime Director with the company.
Its annual revenues from the contract manufacturing organization (CMO) clocked ₹400 crore, (about ₹100 crore every quarter), with a lion’s share of this being collaborations for medicated and herbal lozenges with companies including Reckitt, P&G, Johnson & Johnson and Innova , Chopra told businessline, after the company declared its financial performance for the year ended March 31, 2023.
The present financial year will see more collaborations, across more segments and more geographies, he said. Presently, JB Pharma makes lozenges for cough and cold, and an alliance is in the pipeline for Brazil.The segment is expected to grow from 12 percent of revenues to about 20 percent, he said, in the mid-to-long term. The company has the capacity to make 2.5 billion units at its Daman plant, and it presently makes about 1.1 billion, he said. Other areas it will venture into, include sleep, motion-sickness and immunity, he said.
Sales from the India region contributes about 55 percent of its revenues. And despite geo-political challenges, he said, the Rest-of-the-world market (including Russia) will see new product launches.
Financial performance
JB Pharma revenue stood at ₹762 crore, in the fourth quarter ended 31st March 2023, compared to ₹625 crores in same period last year, up 22 percent. Profit after tax was ₹88 crore, compared to ₹85 crores in the same period, up 4 percent.
For the 12 months ended March 31, 2023, JB Pharma clocked revenues of ₹3,149 crore, compared to ₹2,424 crore, up 30 percent. Profit after tax was ₹410 crore, compared to ₹386 crore, in the corresponding period last year, up 6 percent. Operating EBITDA grew 26 percent to ₹765 crore, compared to ₹605 crore.
Its domestic formulations business clocked revenue of ₹380 crore, up 29 percent in the quarter under review. It was ₹1,640 crore for FY23, up 38 percent. Some of JB’s key brands include Rantac, Cilacar, Metrogyl Nicardia and Azmarda.
The company’s international business grew 16 percent to ₹382 crore in the quarter and 22 percent to ₹1509 crores for the financial year. Gross debt was ₹548 crores as on Mar 31, 2023.
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