Jubilant Pharmova posts Rs 214 cr profit in Q4

The company had posted a net profit of Rs 260 crore in the January-March quarter of 2019-20.

Sales stood at Rs 1,552 crore for the fourth quarter while the same was at Rs 1,497 crore in the same period of FY20.

For the entire 2020-21 fiscal, the company reported a consolidated net profit of Rs 836 crore. It was Rs 898 crore in FY20.

Sales of the company last fiscal stood at Rs 5,964 crore, while the same was Rs 5,843 crore in FY20.

The drug firm noted that the figures for the current quarter and year were not comparable with previous periods since the Life Science Ingredients (LSI) business demerged from it with effect from February 1, 2021.

“…despite COVID-19 challenges, revenues were stable due to a diverse range of businesses. CDMO and Generics grew though we saw impact on radiopharma and had production impact at the Nanjangud API plant,” Pharmova Chairman Shyam S Bhartia said in a regulatory filing.

Despite the pandemic-related lockdowns, the company has been able to ensure continuity in most of its manufacturing operations across all business segments while at the same time ensuring safety of employees, he added.

The drug firm said it plans to incur a capital expenditure of Rs 700-800 crore in the current fiscal on the addition of a new high speed fill and finish line with lyophilizer at Spokane site (US) and expansion of CRDS (Contract Research and Development Services) capacity.

Jubilant Pharmova had a capex of Rs 276 crore in FY21.

On generics business, the company noted it plans to launch new products in the US via in-licensing and contract manufacturing.

“We expect to launch new products from the Roorkee site once the warning letter is lifted. We plan to enhance geographical reach in the rest of the world (RoW) markets,” it added.

The company’s board has recommended a dividend of Rs 5 per share of Re 1 each, aggregating to around Rs 80 crore, for the financial year ended March 31, 2021.

Shares of the company on Friday ended 0.82 per cent down at Rs 836.2 apiece on the BSE.