JB Chemicals & Pharmaceuticals Limited records Revenue growth of

JB Chemicals & Pharmaceuticals Limited (JBCPL) records Revenue growth of 19% to Rs. 528 crores for Q4 FY2021

Profit After Tax higher by 101% to Rs.101 crores

For FY2021, Revenue increases by 15% to Rs. 2,043 crores Profit After Tax higher by 65% to Rs. 449 crores

 

J. B. Chemicals & Pharmaceuticals Limited (JBCPL), one of the fastest growing pharmaceutical companies in India, announced its financial results for the fourth quarter and financial year ended 31^st March, 2021.

Quarterly Financial Performance – Q4 FY21 vs Q4 FY20

For the fourth quarter ended 31^st March 2021, the Company recorded revenue of Rs. 528 crores as compared to Rs 444 crores, registering growth of 19 % over the corresponding quarter ended 31st March, 2020. EBITDA (Earnings Before Interest Depreciation and Taxes) increased by 35% to Rs. 124 crores as compared to Rs.92 crores. EBITDA margin for the quarter was at 23% as compared to 21%. Profit after Tax was higher by 101% at Rs. 101 crores as compared to Rs. 50 crores.

Annual Financial Performance – FY 2021 vs FY2020

For the financial year ended 31^st March 2021, the Company recorded revenue of Rs. 2,043 crores as compared to Rs. 1775 crores, registering growth of 15% over the previous financial year ended 31st March, 2020. EBITDA (Earnings Before Interest Depreciation and Taxes) increased by 48% to Rs. 560 crores as compared to Rs. 378 crores. EBITDA margin for FY2021 was at 27% as compared to 21% for FY 2020. Profit after Tax was higher by 65% at Rs. 449 crores compared to Rs. 272 crores.

Earnings Per Share (EPS) was at Rs. 57.96 for FY2021 as compared to Rs. 34.20 for FY2020. The Board of directors recommended a final dividend of Rs. 8 per share.

 Commenting on financial results, Mr. Nikhil Chopra, CEO and Wholetime Director, JBCPL said, “Our financial performance for FY21 has been encouraging in one of the most challenging periods in recent history. We are pleased with the strength showcased by all our business units – with the India business continuing to record market-beating growth for the year - backed by a new consolidated go-to-market strategy with therapy diversification plans and strong transformation levers to sustain growth. Our international formulations business has performed well and shows great promise with a focused growth strategy for our key markets, aided by new launches. Overall, our plans of strengthening R&D capabilities to support our medium to long-term growth opportunities and various cost efficiency initiatives instituted over the last year places us well to enhance value for all our key stakeholders.”

V-Guard’s Q4 FY 2020-21 PAT grew by

V-Guard’s Q4 FY 2020-21 PAT grew by 112% Y-o-Y 

India, May 26, 2021:

India’s leading consumer electrical and electronics company, V-Guard Industries Ltd., announced its audited financial results for the quarter ended March 31, 2021.

Q4 FY 21 highlights:

·         Consolidated Net Revenue from operations for the quarter ended March 31, 2021 was Rs. 855.20 crores; a growth of 58% compared to the corresponding period of previous year (Rs.541.14 crores)

 

·         Consolidated Profit After Tax for the quarter ended March 31, 2021 was Rs.68.39 crores; an increase of 112.2% over corresponding period of previous year (Rs.32.23 crores).

 

·         All three segments - Electronics, Electrical and Consumer Durables - recorded strong growth during the quarter.

 

·         Consolidated Net Revenue from operations for the year ended March 31, 2021 was Rs. 2,721.24 crores; a growth of 8.7% compared to the previous year (Rs.2,502.94 crores).

 

·         Consolidated Profit Before Tax for the year ended March 31, 2021 was Rs.288.1 crores; an increase of 15.4% over the previous year (Rs.249.6 crores).

 

·         Consolidated Profit After Tax for the year ended March 31, 2021 was Rs.201.89 crores; an increase of 7.2% over the previous year (Rs.188.25 crores). Effective Tax Rate has gone up due to severe supply disruption in Sikkim plants, as they were affected by Covid-related lockdowns up to September 2020.

 

·         The Board of Directors has recommended a dividend of Rs.1.20 per equity share (120%) for the financial year 2020-21.

 

Business Outlook:

 

Commenting on the company’s performance, Mr. Mithun. K. Chittilappilly, Managing Director, V-Guard Industries Ltd said “The business performance has been very strong in Q4, continuing on the growth momentum witnessed in Q3.  We have been able to achieve a broad based growth across all our segments including our emerging categories.  Input cost inflation remains a challenge, and while we have been able to mitigate it to large extent, some near term pressures are likely to continue.

As we enter the new financial year, the country has been hit by a more severe second wave of COVID-19. As most parts of the country are under lockdown, there will be a significant impact on consumer demand during Q1 FY 22.  We are confident that our business will come back strongly once the lockdowns are lifted.”

Consolidated Loan Assets Under Management increased by

Consolidated Loan Assets Under Management increased by
16% YoY at Rs.46,501crs

Consolidated Profit after Tax increased by 52% YoY at Rs.858crs

Standalone Loan Assets Under Management increased by 15% YoY at Rs.41,296 crs for Q1 FY21

Standalone Profit after tax increased by 59% YoY at Rs.841crs for Q1 FY21

Consolidated Results of Muthoot Finance Ltd

Muthoot Finance Ltd Consolidated Loan Assets under management achieved a YoY increase of 16% at Rs.46,501crs as at Q1 FY21 as against last year of Rs.40,228crs. During the quarter, Consolidated Loan Assets under management decreased by Rs.370crs. Consolidated Profit after tax achieved a YOY increase of 52% of Rs.858 crs as against last year of Rs.563crs.

	Q1 FY21	Q4 FY20	QoQ %	Q1 FY20	YoY %	FY20
Group Branch Network	5,330	5,330	0%	5,092	5%	5,330
Consolidated Gross Loan Assets of the Group (Rs. In crores)	46,501	46,871	-1%	40,228	16%	46,871
Consolidated Profit of the Group (Rs. In crores)	858	836	3%	563	52%	3,169
Contribution in the Consolidated Gross Loan Assets of the Group
Muthoot Finance Ltd	40,906	41,216	-1%	35,406	16%	41,216
Subsidiaries	5,595	5,655	-1%	4,822	16%	5,655
Contribution in the Consolidated Profit of the Group
Muthoot Finance Ltd	834	809	3%	522	60%	2,993
Subsidiaries	23	27	-15%	41	-44%	176

Standalone Results of Muthoot Finance Ltd and its subsidiaries

Muthoot Finance Ltd (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 59%, at Rs.841crs for Q1FY21 as against Rs.530crs for Q1 FY20.  Loan Assets stood at Rs.41,296crs compared to Rs.35,816crs previous year, Y-o-Y growth of 15%. During Q1 FY21, Loan Assets decreased by Rs.315crs on account of closure of branches during the month of April 2020 due to pan India lockdown announced by Govt. Of India in the wake of Covid-19 pandemic.

Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, loan portfolio decreased to Rs.1,979 crs as against previous year of Rs.1,988crs, a YoY decrease of 0.40%. During Q1 FY21, loan portfolio increased by Rs.2crs. Total revenue for Q1 FY21 stood at Rs.59crs as against Rs.62crs in the previous year. It achieved a profit after tax of Rs.0.41crs in Q1 FY21 as against Rs.6crs in the previous year. Its Stage III Asset on Gross Loan Asset % as on June 30, 2020 stood at 1.70%. Company also made a Covid ECL provision of Rs.13crs additionally.

M/s. Belstar Microfinance Limited (BML), an RBI registered micro finance NBFC and Subsidiary Company where Muthoot Finance holds 70.01% stake, grew its loan portfolio to Rs.2,575crs as against last year of Rs. 1,939crs, a YoY increase of 33%. During Q1 FY21, loan portfolio decreased by Rs.56crs. It achieved a profit after tax of Rs. 15crs in Q1 FY21 as against Rs. 23crs previous year. Its Stage III Asset on Gross Loan Asset % as on June 30, 2020 stood at 1.11%. Company also made a Covid ECL provision of Rs.6.83crs additionally.

Muthoot Insurance Brokers Pvt Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a total premium collection amounting to Rs. 44crs in Q1 FY21 as against Rs. 61crs in the previous year. It generated a Profit after Tax of Rs. 4crs in Q1 FY21 as against Rs. 3crs in the previous year.

The Sri Lankan subsidiary- Asia Asset Finance PLC(AAF) where Muthoot Finance holds 72.92% stake, increased its loan portfolio to LKR 1,348crs as against LKR 1,290crs last year, a YoY increase of 4%. During Q1 FY21, loan portfolio decreased by LKR 36crs.Total revenue for Q1 FY21 stood at LKR 70crs as against previous year total revenue of LKR 80crs.It incurred a loss of LKR 2crs in Q1FY21 as against previous year profit after tax of LKR 3crs.

Muthoot Money Ltd (MML), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MML is a RBI registered Non- Banking Finance Company engaged mainly in extending loans for vehicles. Recently, Company has started extending loans for Commercial Vehicles and Equipments. Its loan portfolio stood at Rs.497 crs as on June 30 ,2020. During Q1 FY21, loan portfolio decreased by Rs.12crs. Total revenue for Q1 FY21 stood at Rs.20 crs. Company also made a Covid ECL provision of Rs.12.19crs additionally.

Management Quote

Commenting on the results M G George Muthoot, Chairman stated, “At a time when pandemic has disrupted business activities across the globe, we with the support of our employees, customers and lenders have been able to continue excellence in our performance.  Company could achieve a 59% YoY increase in profit after tax of Rs.841crs for the quarter. Our branches were completely shut during the month of April due to nationwide lockdown. To ensure business continuity we upscaled our digital platforms. We recorded four-fold jump in digital loan disbursals since then. To encourage digital usage, we are incentivizing our customers with a cashback scheme to service interest payments through our online platforms. With businesses resuming, we have witnessed surge in gold loans as it is the most convenient form of availing working capital for small business and traders to kickstart their businesses.”

Speaking on the occasion George Alexander Muthoot, Managing Director said, “Our disbursements during the quarter was lower on account of closure of branches in the month of April 2020 due to nationwide lockdown. Once the branches opened, we saw higher level of repayments than disbursements, probably, on account of restrictions in movement of people. However, we witnessed a significant increase in disbursements since June 2020 which continues in July and August 2020. As initially guided, we are looking forward to achieve a 15% growth in gold loan portfolio for FY 21. Company also maintained a liquidity buffer of Rs.8,477crs as cash, bank and investments in liquid funds as on June 30 ,2020. Non-gold loan portfolio in subsidiaries constituted about 12% of consolidated loan portfolio. Collections in non-gold loan portfolio have significantly improved month on month. Additional Covid ECL provisions to the extent of Rs.32crs were made for non-gold loan portfolio in the quarter.”

Financial Highlights (MFIN):

	Q1 FY21	Q4 FY20	QoQ %	Q1 FY20	YoY %
	(Rs.in Crs)	(Rs.in Crs)	Change	(Rs.in Crs)	Change
Total Income	2,385	2,403	-1%	1,859	28%
Profit Before Tax	1,125	1,097	3%	817	38%
Profit After Tax	841	815	3%	530	59%
Earnings Per Share(Basic) Rs.	20.96	20.33	3%	13.23	58%
Loan Assets	41,296	41,611	-1%	35,816	15%
Branches	4,573	4,567	0%	4,502	2%

Particular	Q1 FY21	Q4 FY20	Q1 FY20
Return on Average  Loan assets	8.11%	8.13%	6.05%
Return on Average Equity	28.16%	28.39%	21.70%
Book Value Per Share (Rs.)	306.99	288.43	243.02

Particular	Q1 FY21	Q4 FY20	Q1 FY20
Capital Adequacy Ratio	26.30	25.47	24.72
Share Capital & Reserves (Rs. in Crs)	12,316	11,572	9,743

Business Highlights (MFIN):

Particular	Q1 FY21	Q1 FY20	Growth (YoY)
Branch Network	4,573	4,502	2%
Gold Loan Outstanding (Rs. in Cr)	40,495	35,171	15%
Credit Losses (Rs. in Cr)	3	2	40%
% of Credit Losses on Gross Loan Asset Under Management	0.0069%	0.0068%	1%
Average Gold Loan per Branch (Rs. In Cr)	8.86	8.24	8%
No. of Loan Accounts (in lakh)	76	82	-7%
Total Weight of Gold Jewellery pledged (in tonnes)	165	176	-6%
Average Loan Ticket Size	53,426	42,705	25%
No. of employees	25,430	24,644	3%