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JB Pharma Celebrates 1 Year to Its Identity Launch, Delivers Over 22% Growth for the Fiscal
Mumbai: JB Pharma, the fastest-growing company in the Indian Pharmaceutical Market, today marks the one-year anniversary of the launch of its identity. Good People for Good Health is a testament to the brand's unwavering commitment to spreading good health globally. Crossing the milestone, the company highlights their- journey of contributions made towards Indian healthcare – of supporting healthcare providers and enriching patients’ lives globally. This is reflected in three key elements, which are – their people, products and financial results.
Sharing his views on the occasion, Mr. Nikhil Chopra, CEO & Whole-Time Director, JB Pharma, said, “While we touch new horizons, we are rooted in our values of simplicity, reliability and agility that define us. We will continue to remain simple in our actions, reliable in our relationships and agile in our approach towards effecting changing scenarios in the healthcare industry.” A year of consistent outperformance:
The organisation also announced their Q4FY23 financial results. The Company recorded revenue of INR 3,149 crores, registering a growth of 30%. Operating EBITDA (Earnings Before Interest Depreciation and Taxes) registered growth of 26% to INR 765 crores, and Profit after Tax was INR 410 crores, recording a growth of 6%. JB maintained its upward momentum with quarterly revenues at INR 762 crores, recording a 22% increase, closing the year in excess of INR 3000 crores, with FY23 recording a growth of 30% to INR 3149 crores.
With a presence in 6 lakhs+ pharmacies, and 40+ regulated markets, JB Pharma takes an all-encompassing approach to healthcare. Through a wide range of products and dosage forms, it has made a mark in 20+ progressive portfolios such as pediatrics, cardiology, metabolics, respiratory, anti-infectives, gastroenterology, urology, nephrology and gynaecology. It is the fastest growing pharmaceutical company in India Pharma Market for the 2nd consecutive financial year (IQVIA MAT Mar’23).
Robust performance in Indian business:
The domestic formulations business clocked revenue of INR 380 crores, recording a growth of 29% for the quarter, and was at INR 1640 crores for FY23 with a growth of 38%. Rantac, Cilacar, Cilacar-T, Metrogyl, Nicardia, Azmarda and Sporlac drove up the ranks to feature among the top 300 Indian Pharmaceutical Brands. JB Pharma ranks among the top 10 players in the cardiology segment and among the top 15 by prescription.
JB Pharma develops innovative products under big brands like Rantac OD, RD, Ranraft, Metrogyl ER, Metrogyl DG Gel, Nicardia XL, Sporlac EVA, Sporlac GG etc., to cater to a wide patient profile in respective therapeutic categories. With Sporlac, JB Pharma is the fastest-growing among the top 3 brands in the probiotics segment in India.
Strong progress in CDMO:
The international business performed well and grew by 16% to INR 382 crores in the quarter and 22% to INR 1509 crores for the financial year. CDMO (Contract Development & Manufacturing Organisation) business closed the year with INR 400+ crores revenue maintaining its INR 100 crores quarterly revenue run rate. CDMO, the organisation, is the 3rd largest manufacturer of herbal and medicated lozenges in the world. With 70+ products in different formats, flavours, shapes and sizes, even herbal & medicated, lozenges cater to almost 7% of the world’s total population.
Continued focus on people:
Building a well-rounded and forward-looking organisation, they introduced 50+ people-centric initiatives which inculcate learning & development while also maintaining a work-life balance. The organisation also launched an in-house JBCares app – a 360-degree wellness initiative to foster work-life balance and increase productivity. LEAP – An innovative and forward-looking training and excellence program to develop next-gen leadership for JB Pharma was introduced. Women's representation at JB grew by 20.6% from 2019-20 to cultivate a supportive culture for women that promotes equality, health, well-being and trust.
The environment at the heart of operations:
JB Pharma’s focus on its sustainability goals has also propelled the team to significantly reduce emissions and work towards its sustainability goals for FY24. They released their maiden sustainability report FY22 last year.