JB Chemicals Q4 Review - Steady Performance; Strong Margins To Sustain: ICICI Securities
General views of drugs (Photographer: JB Reed/Bloomberg News)

JB Chemicals Q4 Review - Steady Performance; Strong Margins To Sustain: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

JB Chemicals and Pharmaceuticals Ltd.’s Q4 FY21 performance was largely in line with estimates.

Consolidated revenue grew 19.1% YoY to Rs 5.3 billion while Ebitda margin improved 270 basis poins YoY to 23.4% led by higher sales and operating leverage.

Adjusted profit after tax also grew strong by 48.4% to Rs 855 million.

QoQ drop in margin was mainly due to change in revenue mix with higher exports and normalisation of selling, general and administrative expenses.

Management is focused on maintaining FY21 Ebitda margin level as well as profitable growth.

We remain positive considering ~45% of total revenues and ~60% of Ebitda contribution is from domestic formulations with strong growth visibility.

Click on the attachment to read the full report:

ICICI Securities JB Chemicals Q4FY21 Result Update.pdf

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