JB Chemicals Posts Solid Operating Q3 Performance: ICICI Securities
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ICICI Securities Report
JB Chemicals and Pharmaceuticals Ltd.’s Q3 FY21 performance was strong at the operating level.
Revenue growth benefited by deferment of exports sales worth Rs 570 million from Q2 FY21 to Q3 FY21.
Consolidated revenue grew 27.9% YoY to Rs 5.5 billion while Ebitda margin improved 1030/640 basis points YoY/QoQ to 31.2% led by higher sales, operating leverage and continued cost benefits.
Adjusted profit after tax also grew strong 94.9% Rs 1.3 billion.
We remain positive considering approximately 45% of total revenues and ~60% of Ebitda contribution is from domestic formulations with strong growth visibility.
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