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