Jubilant Pharmova Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

Jubilant Biosys Innovative Research Services,, Singapore (JBIRSPL), subsidiary of Jubilant Biosys (JBL), a wholly owned subsidiary of Jubilant Pharmova, has signed and issued a “put option offer” to Pierre Fabre Laboratories (PF), which setsforth an offer to acquire 80% equity capital (approx. Euro 4.4 million over a period of 2 years) in a new company to be incorporated in France, which new company shall acquire Pierre Fabre's R&D Centre (Including R&D Site and R&D activities) at Saint Julien, France. 

The aforesaid contemplated collaboration is subject to prior consultation of the PF works council and approval of the offer by PF, as well as finalization of definitive agreements and customary closing conditions.

Post‐closing of the transaction: 

- New Company would utilize this R&D Centre with capability to collaborate with Big Pharma & Biotech Customers in Europe & USA.   

- This contemplated transaction would enable JBL to strengthen its drug discovery capabilities in the fields of biologics and antibody drug conjugates (ADC).   

- PF may invest 20% equity capital (approx. Euro 1.1 million over a period of 2 years) in a new company for a maximum period of 5 years, during which time they may continue to provide support to the new company to transition the R&D Centre into fully independent contract research organization, with PFG having no access to any proprietary information or IP related to the R&D Centre. 

- PF may also hire services from JBL aggregating to Euro 7 million for first 4 years

Powered by Capital Market - Live News

Firstsource Solutions Ltd, Adani Energy Solutions Ltd, Sapphire Foods India Ltd, Lloyds Metals & Energy Ltd are among the other stocks to see a surge in volumes on NSE today, 01 August 2024.

Jubilant Pharmova Ltd recorded volume of 101.02 lakh shares by 14:14 IST on NSE, a 14.89 times surge over two-week average daily volume of 6.78 lakh shares. The stock gained 11.13% to Rs.859.30. Volumes stood at 11.18 lakh shares in the last session.

Firstsource Solutions Ltd registered volume of 497.63 lakh shares by 14:14 IST on NSE, a 10.35 fold spurt over two-week average daily volume of 48.08 lakh shares. The stock rose 9.48% to Rs.299.35. Volumes stood at 32.8 lakh shares in the last session.

Adani Energy Solutions Ltd witnessed volume of 241.77 lakh shares by 14:14 IST on NSE, a 6.81 times surge over two-week average daily volume of 35.49 lakh shares. The stock increased 11.53% to Rs.1,269.30. Volumes stood at 46.6 lakh shares in the last session.

Sapphire Foods India Ltd recorded volume of 9.17 lakh shares by 14:14 IST on NSE, a 6.7 times surge over two-week average daily volume of 1.37 lakh shares. The stock gained 3.13% to Rs.1,703.60. Volumes stood at 1.95 lakh shares in the last session.

Lloyds Metals & Energy Ltd saw volume of 34.23 lakh shares by 14:14 IST on NSE, a 6.03 fold spurt over two-week average daily volume of 5.68 lakh shares. The stock increased 7.38% to Rs.785.40. Volumes stood at 4.46 lakh shares in the last session.

Powered by Capital Market - Live News

Net profit of Jubilant Pharmova rose 7432.81% to Rs 482.10 crore in the quarter ended June 2024 as against Rs 6.40 crore during the previous quarter ended June 2023. Sales rose 9.82% to Rs 1720.40 crore in the quarter ended June 2024 as against Rs 1566.50 crore during the previous quarter ended June 2023.

Powered by Capital Market - Live News

Total income increased by 9.41% to Rs 1,745.7 crore in Q1 FY25 as compared with Rs 1,595.5 crore posted in corresponding quarter last year.

The growth in total income was led by growth in Ruby-Fill and new product sales in radiopharmaceuticals, volume growth in radiopharmacies, continued growth momentum in Allergy Immunotherapy business and CDMO Sterile Injectables.

During the quarter, profit before tax was at Rs 499.70 crore, steeply higher than Rs 25.20 crore posted in the first quarter of FY24.

EBITDA jumped 50% to Rs 266 crore as compared to Rs 177 crore during the corresponding period of previous year. EBITDA margin increased to 15.2% in Q1 FY25 as against 11.1% in Q1 FY24.

The surge in EBITDA was due to improved performance across all businesses, radiopharma, allergy immunotherapy, CDMO sterile injectables, CRDMO and generics.

In Q1 FY25, radiopharmaceuticals revenue grew by 28% YoY to Rs 262 crore. The business continues to maintain leadership in the high margin SPECT imaging product portfolio.

Revenue from Allergy Immunotherapy jumped 11% YoY to Rs 168 crore in Q1 FY25. As a sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business continues to gain market share. The business is also making inroads in the markets outside of the US.

During the quarter, CDMO sterile injectables grew by 27% YoY to Rs 324 crore. The capacity expansion program in Spokane, Washington, USA is on track with respect to time and cost. Line 3 and Line 4 are expected to start commercial production in FY26 and FY28 respectively.

Contract research, development and manufacturing organisation (CRDMO) revenue stood at Rs 243 crore in Q1 FY25 as against with Rs 296 crore posted in Q1 FY24. The business is trying to diversify its customer base and in the medium term, it is adding the ‘development’ capabilitiesin addition to research and manufacturing.

Generics business revenue stood at Rs 156 crore in the first quarter of FY25. The business plans to launch 6 to 8 new products per annum in the US and other International markets. The closure of manufacturing operations at the solid dosage formulation facility at Salisbury, Maryland, US has been completed in Q1’FY25.

Meanwhile, in June 2024, the consequent to the receipt of stake sale proceeds in Sofie Biosciences, totaling up to $115.9 million, the company made a voluntary debt repayment of $75 million, equivalent to Rs 626 crore. Correspondingly, net debt dropped to Rs 1,869 crore from Rs 2,509 crore as on March’24. Net debt or EBITDA also improved to 1.7x from 2.5x as on March’24.

Further, the company said that its wholly owned subsidiary, Jubilant Draximage announced an investment of $ 50 million to expand its PET radiopharmacy network by adding six PET radiopharmacies in strategic locations throughout the United States.

The said investment shall position the company in the growing PET Imaging segment and shall also enable it to secure long term contracts with the leading PET radiopharmaceutical manufacturers. The new PET radiopharmacies shall be fully operational in FY28.

During the quarter, the company’s subsidiary, Jubilant Biosys entered into a power purchase agreement and security subscription and shareholder agreement with Isharays Energy Two, for the purchase of renewable energy generated through captive power arrangement for its facilities located in Noida and Greater Noida.

In January this year, the company approved a similar investment to access renewable power through a captive arrangement for its facilities located in Karnataka, India.

Jubilant Pharmova is engaged in radiopharma, allergy immunotherapy, CDMO of sterile injectable, generics, contract research development and manufacturing (CRDMO) and proprietary novel drugs businesses.

The counter hit a 52-week high at Rs 799.95 in intraday today.

Powered by Capital Market - Live News