Indies Pharma Jamaica Limited (INDIES)

Unaudited financials for the six months ended April 30, 2025:

Indies Pharma Jamaica Limited (INDIES) for the six months ended April 30, 2025, reported a 4% increase in Revenue totaling $595.83 million compared to $570.78 million in the corresponding period last year. Revenue for the second quarter had a 10% decrease to close at $270.00 million compared to $301.40 million for the comparable quarter of 2024.

Year to date, the cost of sales amounted to $176.80 million (2024: $172.77 million), this represents an increase of 2% year over year. Consequently, gross profit increased by 5% to $419.03 million compared to $398.01 million for the six months ended April 30, 2024. The company booked gross profit of $199.38 million for the second quarter versus $208.52 million reported for the similar quarter of 2024.

Other operating income decreased by 83% to close at $5.03 million (2024: $29.04 million), while administrative and other expenses decreased by 4% from $247.46 million in 2024 to $238.11 million in the period under review. As a result, profit from operations for the six months ended April 30, 2025, amounted to $185.96 million, a 4% increase relative to $179.59 million reported in 2024.

Exchange Gain for the six months ended April 30, 2025, amounted to $351,326, a 37% increase relative to $255,749 reported in 2024. Exchange Gain for the second quarter amounted to $1.71 million (2024: $550,403). Finance cost- loan interest totaled $29.70 million, a 6% increase from the corresponding period last year. (2024: $28.10 million).

Profit before taxation for the six months ended April 30, 2025, amounted to $156.61 million, a 3% increase relative to $151.74 million reported in 2024. Profit before taxation for the second quarter amounted to $72.19 million (2024: $79.50 million).

The tax charge incurred for the six months ended April 30, 2025, had a 3% increase to reach $18.79 million (2024: $18.19 million). Net Profit for the six months amounted to $137.82 million, a 3% increase from the $133.56 million reported in 2024. For the second quarter, Net Profit for the year was $63.77 million (2024: $70.22 million).

Consequently, Earnings Per Share for the six months amounted to $0.10 (2024: EPS: $0.10), while Earnings Per Share for the quarter totaled $0.05 (2024: EPS: $0.05). The twelve-month trailing EPS was $0.17, and the number of shares used in these calculations was 1,332,536,649.

Notably, INDIES’s stock price closed the trading period on June 13, 2025 at a price of $3.60 with a corresponding P/E ratio of 21.28x.

Balance Sheet Highlights

The company’s assets totaled $2.46 billion (2024: $2.35 billion). The movement in total assets was primarily attributable to a 37% increase in Cash and cash equivalents amounting to $320.64 million (2024: $234.62 million) and a $63.68 million increase in Director’s Current Account amounting to $86.84 million (2024: $23.15 million).

Shareholders’ equity was $1.25 billion (2024: $1.35 billion), representing a book value per share of $0.94 (2024: $1.02).

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