Jubilant Life

Jubilant Life Sciences, for Q4Fy14, posted a consolidated net profit at Rs.99 crore, a turnaround from the loss of Rs.31 crore it had posted in Q4FY13. The market is thus celebrating this turnaround. Net sales for the quarter was at Rs.1152 crore v/s Rs.1308 crore (YoY). Exceptional gain of Rs.36 crore v/s the loss of Rs.78 crore in previous Q4 too helped shore the bottomline. Though sequentially, there has been a drop in the performance with net profit showing a fall of 53%.There is some pressure seen on the EBITDA margin, which for the quarter came in at 16.1% v/s 17.7% in Q3 and 17% in previous Q4.  Lower profitability in CMO business on account of Warning Letter in pharma segment and inability to absorb cost in Symtet on account of lower capacity utilization in life sciences impacted the EBITDA margins.

Its International revenues grew 8% (YoY) and contributed 74% to total sales. The rise in top line was aided by higher volumes in Life Science Ingredients segment and price uptick in Radiopharmaceutical products.55% of the company’s topline comes from life science ingredients and rest 45% from pharmaceuticals.  In APIs, the company currently has 30 commercial APIs, including 19 in North America, 24 in Europe and 25 in ROW. During the quarter it launched Esomeprazole Mg in Europe. It has made 14 filings during the quarter including 6 in US, 2 in Canada and 3 CEPs. It is expecting commercialization of some key products like Esomeprazole in Europe & Australia and Aripiprazole in Europe, Valsartan & Irbesartan in the US. In the coming months it expects to file 10-12 DMFs in the US market.