Jubilant Pharmova Q4 Review - Big Miss; Recovery Delayed: ICICI Securities

A technician runs a test at a lab in Singapore. (Photographer: Lauryn Ishak/Bloomberg)

Jubilant Pharmova Q4 Review - Big Miss; Recovery Delayed: ICICI Securities

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ICICI Securities Report

Jubilant Pharmova Ltd.'s Q4 FY21 performance was below our estimates with miss of 12/25/21% in revenue/Ebitda/PAT.

The life science ingredients business got demerged into Jubilant Ingrevia Ltd. from February 2021.

Pharma business revenue remained flat at Rs 15.8 billion, Ebitda margin dropped 420 basis points year-on-year to 23.7% and adjoining PAT declined 13.7% to Rs 1.8 billion.

The contract development and manufacturing business benefited from the manufacturing of potential Covid-19 drug and vaccines which contributed Rs 5.4 billion revenue in FY21.

Click on the attachment to read the full report:

ICICI Securities Jubilant Q4FY21 Result Review.pdf

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