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JB Chemicals Q4 Review - Ebitda Margin Sustenance Key: Dolat Capital

JB Chemicals Q4 Review - Ebitda Margin Sustenance Key: Dolat Capital

<div class="paragraphs"><p>Pills is shown at a pharmacy. (Photographer: JB Reed/Bloomberg News)</p></div>
Pills is shown at a pharmacy. (Photographer: JB Reed/Bloomberg News)

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Dolat Capital Report

JB Chemicals and Pharmaceuticals Ltd. reported an in-line Q4. Revenue growth of 19% YoY was driven by both domestic and exports.

With on ground expenses normalising, Ebitda margins stand at 23.4% for Q4 versus 28.6% in nine months-FY21.

One-time income of Rs 198 million (sale of land) aided profit after tax at Rs 1 billion, adjusting for which profit after tax has been in line at Rs 800 million.

India (grew 9% YoY), exports (both formulations and active pharmaceutical ingredient) reported healthy growth at 33% YoY.

Sequentially the growth was muted on a high base.

Management expects India growth led by deeper penetration of legacy portfolio, new launches in chronic segment coupled with productivity improvement.

Click on the attachment to read the full report:

Dolat Capital JB Chemicals & Pharma Q4FY21 Result Update.pdf

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