Jb Chemicals & Pharmaceuticals Ltd. · NSE:JBCHEPHARM
Jb Chemicals & Pharmaceuticals — Q4 FY25 Earnings Presentation
45 slides from Jb Chemicals & Pharmaceuticals's earnings presentation, May 14, 2025
Slide 1: Company Presentation filing cover letter to NSE
May 14, 2025 National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400051. Stock Symbol: JBCHEPHARM Dear Sir, Sub: Company Presentation Enclosed is Company’s presentation on financial results for the quarter and year end
Slide 2: JB Pharma – Q4 and FY25 Investor Presentation
JB Pharma – Q4 and FY25 Investor Presentation May 14, 2025 www.jbpharma.com jbpharma/
Slide 3: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 4: JB Pharma At A Glance
JB Pharma At A Glance INR 3,918 Cr 6 Top 5 FY25 Revenue Brands in IPM Top 300 CDMO of Lozenges Globally Scale 58% #16 47% Domestic Revenue % Prescription Rank FY25 Chronic %(1) (FY25) (FY25) Domestic 1.5x 17% 20% Outperformance vs Revenue CAGR Operating EBITDA CAGR IPM (MAT Mar’25) (FY22-25) (FY22-2
Slide 5: Q4 and FY25 Business Performance
Q4 and FY25 Business Performance 4
Slide 6: CEO’s Message – Q4 FY25
CEO’s Message – Q4 FY25 “ We have closed the financial year FY25 on a strong note, in line with our strategic intent and sustained execution in the market. Our Domestic business continues to be one of the fastest growing in IPM. We have built a strong foundation over the last five years. With 75% of
Slide 7: Results Overview: Q4 FY25 vs Q4 FY24
Results Overview: Q4 FY25 vs Q4 FY24 Revenues (INR crores) 10% o JB Pharma recorded revenue growth of 10% to INR 949 crores • Domestic formulations business recorded robust 862 949 growth and the CDMO business bounced back strongly in the fourth quarter Q4 FY24 Q4 FY25 o Domestic business revenue gr
Slide 8: Results Overview: FY25 vs FY24
Results Overview: FY25 vs FY24 Revenues (INR crores) 3,918 3,484 o Total revenue for the organization grew 12% to INR 3918 crores 12% • Domestic and CDMO business combined revenue stands at 69% to total revenue as compared to 55% of total revenue in FY21 o Domestic business revenue registered growth
Slide 9: EBITDA Analysis – Q4 FY25 and FY25
EBITDA Analysis – Q4 FY25 and FY25 INR crores Q4 FY25 Q4 FY24 FY25 FY24 Revenue 949 862 3918 3484 Reported EBITDA 226 198 1032 897 Non Cash ESOP Charge 14 12 55 42 Included in Employee Benefits expense ^Operating EBITDA (excluding ESOP 240 210 1087 939 charge) Operating EBITDA margins 25.3% 24.4% 27
Slide 10: Financial Overview Q4 FY25 vs Q4 FY24
Financial Overview Q4 FY25 vs Q4 FY24 Op EBITDA (INR crores) 25.3% o Operating EBITDA registered YoY growth of 15% to INR 240 crores; 24.4% 240 Operating EBITDA margins were at 25.3% (YoY improvement of 90 bps) 15% o Gross Profit improved by 12% to INR 628 crores • Despite the in-licensed opthal bus
Slide 11: Financial Overview FY25 vs FY24
Financial Overview FY25 vs FY24 Op EBITDA (INR crores) 27.7% 27% 1087 o Operating EBITDA surpassed INR 1000 crores for the first time to INR 1087 crores (YoY growth of 16%); Operating EBITDA margins improved by 70 bps to 27.7% o Gross Margin witnessed improvement of 30 bps to 66.4% as compared to 66
Slide 12: Balance Sheet FY25: Net Cash Now At INR 689 Crores
Balance Sheet FY25: Net Cash Now At INR 689 Crores As on 31 As on 31 Balance Sheet (INR Cr) Mar’25 Mar’24 o Operating cash flows in FY25 was INR 903 crores vs INR 801 Net Worth 3433 2923 crores in FY24 Other Liabilities 416 357 • Operating cash flows to operating EBITDA was at 83% Total Liabilities
Slide 13: Domestic Business Q4 FY25 vs Q4 FY24
Domestic Business Q4 FY25 vs Q4 FY24 Domestic Formulations (INR crores) o Domestic business revenue registered YoY growth of 11% 11% to INR 519 crores in Q4 FY25 o As per IQVIA, JB Pharma recorded YoY growth of 13% in Q4 FY25 vs IPM growth of 7%. 519 • Excluding ophthalmology portfolio, JB grew 12%
Slide 14: Domestic Business FY25 vs FY24
Domestic Business FY25 vs FY24 o Domestic business revenue recorded YoY growth 20% to INR 2269 Domestic Formulations (INR crores) crores in FY25 • Domestic business volume growth was 13% including ophthalmology portfolio and 6% excluding ophthalmology portfolio 2269 o JB Pharma is one of the fastest
Slide 15: International Business Q4 FY25 vs Q4 FY24
International Business Q4 FY25 vs Q4 FY24 9% 430 397 6% o International business recorded revenue of INR 430 crores in Q4 FY25 registering YoY growth of 9% 267 282 18% o International formulations business registered YoY growth of 129 6% to INR 282 crores 109 • Russia and Branded generics exports bu
Slide 16: International Business FY25 vs FY24
International Business FY25 vs FY24 o International business recorded revenue growth of 4% to INR 4% 1649 crores vs INR 1587 crores 1649 1587 o International formulations business recorded revenue growth 6% of 6% to INR 1128 crores 1128 • Russia and Branded generics exports business performed 1069 c
Slide 17: Q4 and FY25 Financial Performance (Consolidated)
Q4 and FY25 Financial Performance (Consolidated) Particulars Q4 FY25 Q4 FY24 YoY Growth FY25 FY24 YoY Growth Revenue from Operations 949 862 10% 3918 3484 12% Cost of Goods Sold 322 300 7% 1317 1182 11% Gross Profit 628 561 12% 2601 2302 13% Gross Profit Margins 66.1% 65.2% 66.4% 66.1% Employee Bene
Slide 18: Investor updates on the Business
Investor updates on the Business
Slide 19: One Of The Most Attractive Domestic Formulations Business
One Of The Most Attractive Domestic Formulations Business Consistently Outperforming the Indian Pharmaceuticals Market JB Pharma Consistently Outperforming IPM Growth #22 29% IPM JB PHARMA 21% 22% #22 MAT Mar ‘25 18% 10% 12% #29 MAT Mar ‘24 8% 8% 8% 4% MAT Mar ‘21 Consistent Rank improvement MAT MAR
Slide 20: Majority Of Portfolio In Fast-growing Therapy Segments
Majority Of Portfolio In Fast-growing Therapy Segments Leading To Inherent Strong Growth Prospects % JB Pharma Revenue Segment CAGR JB Pharma CAGR Key Brands (MAT Mar’25) (MAT Mar’22-Mar’25) (MAT Mar’22-Mar’25) Hypertension 40% 10% 23% (1) (1) Lipid Management (Rosuvastatin) 4% 16% 19% Heart Failure
Slide 21: Focused Portfolio Of Top Pillar Brands Driving ~75% Of Domestic Revenue
Focused Portfolio Of Top Pillar Brands Driving ~75% Of The Domestic Revenue MAT Mar’21 MAT Mar’25 20 Others 17% 21% Others 26% 25% 8% 13% 10% 25% 1% each 11% 8% 2% 2% 3% 4% 8% 7% 5 brands contributing to ~75% of the revenue 18 brands contributing to ~75% of the revenue METROGYL -P RANTAC - DOM GYNOG
Slide 22: Key Highlights Of JB Pharma
Key Highlights Of JB Pharma 1 2 3 4 One of the Fastest Growing Increasing Chronic Presence with Track Record of Building Large Strong GTM Model with Pan India Domestic Pharma Companies ~2.6 Times Outperformance to Brands with Big Brands Getting Presence and Consistently IPM Bigger Improving Producti
Slide 23: One Of The Fastest Growing Domestic Pharma Companies
1 One Of The Fastest Growing Domestic Pharma Companies 12% MAT Mar’25 Growth 12% MAT Mar’25 Growth One of the Fastest Growing Domestic Pharma Companies 1.5x 1.5x vs 8% for IPM vs 8% for CVM** 48% 46% 42% 54% 56% 52% Increasing Share of Domestic Revenue 52% 54% 58% 46% 44% 48% FY20 FY21 FY22 FY23 FY2
Slide 24: Strong Prescription Led Growth
1 Strong Prescription Led Growth Prescription Volume Growth Outperforming IPM Strong Prescriber Connect across Specialities Prescriptions CAGR (MAT Mar’21 - MAT Mar’25) 1,61,000 General/ Consulting Physicians 26,000 Gynaecologists 17% 14% 21,000 Dentists 14,000 Ophthalmologists 44,000 Pediatricians
Slide 25: Increasing Chronic Presence With ~2.6 Times Outperformance To IPM
2 Increasing Chronic Presence With ~2.6 Times Outperformance To IPM Consistently Increasing Chronic Mix… ...With Strong Outperformance to IPM… …Consistent rank improvement MAT CAGR (Mar’21 – Mar’25) Steady rank improvement from #28 to #22 in IPM over the last 4 years #22 50% 52% 53% 57% 28% #25 MAT
Slide 26: Prescriber Coverage
2 #8 Position In Cardiac In IPM Anchored Around House Of Mega Brands And Emerging Brands JB’s Cardiac Covered Market Portfolio of Mega Brands and Emerging Brands Consistently Gaining Market Share Growth vs. Brand MAT Mar’25 Revenue (INR cr) Market share(1) Rank Category(1) 6 Rank in AHT(3) 8 463 1.2
Slide 27: JB Pharma Ranks Amongst Top 10 In Cardiac Therapy
2 JB Pharma Ranks Amongst Top 10 In Cardiac Therapy; 3 Brands In Top 25 In Cardiology Segment #08 MAT Mar'21 MAT Mar’23 MAT Mat’25 #08 2 4 3 #9 29 20 16 #13 #13 43 24 14 3 brands in Top 25 in the Cardiology segment MAT MAT MAT MAT MAT Addition of progressive and strong brands - Mar’21 Mar’22 Mar ’23
Slide 28: Track Record Of Building Large Brands…
3 Track Record Of Building Large Brands… MAT Value Sales (INR cr) MAT Mar25 Rank Market Share and Brand Growth Mar-25 CVM IPM Market Share(1) Brand CAGR(2) 463 #1 #23 55% 19% 6 brands in Top 300 of IPM 355 #2 #42 41% 10% Covering c.50%+ of 224 #1 #120 82% 18% Domestic Formulations 225 #1 #118 37% 30
Slide 29: …With Big Brands Getting Bigger
3 …With Big Brands Getting Bigger Building Large Brand Families… …With Strong Capability to Build Brand Franchises through Lifecycle Management # of Brands by MAT Revenue Strong growth in brand portfolio with 3 times more brands above 100 cr & 2 brands crossing 300 cr mark 2 INR 383cr INR 785cr INR
Slide 30: Strong GTM Model With Pan India Presence And Improving Productivity
4 Strong GTM Model With Pan India Presence And Consistently Improving Productivity Pan India Presence Sustained Improvements in Field Force Productivity x% Sales contribution by zone (MAT Mar’25) Field Force Productivity – Per Capita Per Month (INR Lakhs)(1) IPM CAGR MAT MAR 23-25 2,800+ 8.0 JB PHAR
Slide 31: Track Record Of Synergistic Brand Acquisitions…
5 Track Record Of Synergistic Brand Acquisitions… New / Key Brands Acquired Rationale Existing TAs 1 ✓ ◼ Overlap in the prescriber base (more than 70% of prescribers are General Physicians / Consulting FY22 Probiotic and IVF Physicians who are key prescribers base for JB) ◼ Sporlac, Lobun, Gynogen,
Slide 32: …With Capability To Scale Up Acquired Brands Rapidly
5 …With Capability To Scale Up Acquired Brands Rapidly 17% Brand Sales (INR Cr) 115 42% 98 Sporlac Franchise 92 INR 69cr INR 134cr 65 MAT Mar’22 MAT Mar’25 Another Sporlac moved from rank 594 in INR 100cr+ MAT Mar 21 to 298 in Mat Mar 25, SPORLAC GG SPORLAC EVA Brand entering the top 300 brands in I
Slide 33: Diversified International Business Across CDMO, Formulations And API
6 Diversified International Business Across CDMO, Formulations And API CDMO International Formulations and API ◼ Direct front-end presence ◼ Distributor-led model Leading Global Position in $4.6b Lozenges Market Opportunity Direct Presence in Distributor Relationships in the US, Russia and South Afr
Slide 34: Among The Top 5 CDMOs Globally For Lozenges
6 Among The Top 5 CDMOs Globally For Lozenges Key Highlights Key Enablers Top 5 global manufacturers of medicated and herbal lozenges Strong R&D and Marquee Clientele and Brands across globally renowned consumer health and State-of-the-art Best-in-class Tenured Customer Unique Analytical Manufacturi
Slide 35: World-class Manufacturing Facilities With Multiple Dosage Forms
7 World-class Manufacturing Facilities With Capabilities Across Multiple Dosage Forms 8 40+ 10 State of the Art Manufacturing Plants Global Regulatory Accreditations Dosage forms in 5 Facilities produced Tablets Vials Campus 1 (Panoli, Gujarat) Campus 2 (Panoli, Gujarat) Capsules Ointments Campus 3
Slide 36: Well Orchestrated Transformational Initiatives Resulting In Step Change
8 Well Orchestrated Transformational Initiatives Resulting In Step Change In Quality Of Business Multiple Strategic Initiatives Under the New Management… …has Led to Complete Transformation of the Business Parameters FY20 FY25 Revamped GTM strategy focused on lifecycle management of big brands – inc
Slide 37: Consistent Revenue/EBITDA Growth Over The Years
9 Consistent Revenue/EBITDA Growth Over The Years Domestic Formulations (INR crores) International Business (INR crores) Total Revenues (INR crores) CAGR: 25% CAGR: 10% CAGR: 17% 3918 1649 3149 3484 2269 1509 1587 1897 1236 2424 1640 1173 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 O
Slide 38: FY25 – Continuous Improvement In ROCE And Strong Net Cash Position
10 FY25- Continuous Improvement In ROCE And Strong Net Cash Position ROE (%) ROCE (%) Net Working Capital in Days 32% 27% 111 22% 21% 89 87 87 19% 19% 18% 17% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Consistent improvement in ROCE since FY22 Net Working Capital declined to 87 days in FY25 vs 111 days
Slide 39: Summarising JB Pharma’s Performance (1/2)
Summarising JB Pharma’s Performance (1/2) • JB Pharma’s revenue grew at 17% CAGR to INR 3918 crores in FY25 from INR 2424 crores in FY22 including contribution from acquisitions • Domestic Business o Domestic revenue grew at 25% CAGR to INR 2269 crores in FY25 from INR 1173 crores in FY22 o Domestic
Slide 40: Summarising JB Pharma’s Performance (2/2)
Summarising JB Pharma’s Performance (2/2) • Domestic and CDMO businesses together constitute 69% of total revenue in FY25 as compared to 55% in FY21 • Both businesses have high operating EBITDA margins and high ROCE • Improving Profitability • Operating EBITDA grew at 20% CAGR to INR 1087 crores in
Slide 41: JB Pharma – Looking Ahead
JB Pharma – Looking Ahead Growth objectives supported by lean organization structure and strong governance framework Domestic business to consistently outperform Continued growth momentum in International market growth driven by business Strong delivery in CDMO business aided by new launches and exp
Slide 42: Dow Jones Sustainability Index (DJSI)
Dow Jones Sustainability Index (DJSI) Recognized as the world’s most respected corporate sustainability benchmark, the ESG(CSA) survey rigorous evaluation covers environmental, social, governance and industry-specific questionnaires, assessing an average of 23 sustainability topics through over 150
Slide 43: JB Pharma’s S&P Global ESG Score
JB Pharma’s Performance JB Pharma’s S&P Global ESG Score JB Pharma’s ESG score of 77 will rank among the leading pharmaceutical Score Breakdown companies in India and among the leaders in Pharma Globally (Sector: DRG Pharmaceuticals) ESG scores for companies are available at : https://www.spglobal.c
Slide 44: About JB Pharma
About JB Pharma J.B. Pharma (BSE: 506943 | NSE: JBCHEPHARM | For further information, please ISIN: INE572A01028), established in 1976, is one contact: of the fastest growing pharmaceutical companies in India and a leading player in the hypertension Narayan Saraf, Chief Financial Officer segment. Bes
Slide 45: Thank you
Thank you www.jbpharma.com 44
J. B. Chemicals & Pharmaceuticals — Q4 FY25 Earnings Presentation on 6ix