Indies Pharma Jamaica Limited (INDIES)

Unaudited financials for the first quarter ended January 31, 2025:

Indies Pharma Jamaica Limited (INDIES) for the first quarter ended January 31, 2025, reported a 21% increase in revenue totaling $325.45 million compared to $269.38 million in the corresponding three months last year.

Year to date, Cost of Sales amounted to $106.18 million (2024: $79.89 million), this represents an increase of 33% year over year. Consequently, gross profit increased by 16% to $219.27 million compared to $189.49 million for the first quarter ended January 31, 2024.

Notably, Other operating income decreased by 90% to close at $2.57 million (2024: $25.66 million), while Administrative and other expenses decreased by 6% from $129.26 million in 2024 to $121.36 million for the three months. As a result, Profit from operation for the first quarter amounted to $100.47 million, a 17% increase relative to $85.89 million reported in 2024.

Exchange Loss for the three months amounted to $1.36 million (2023: Exchange loss of $294,653). Finance cost- loan interest totaled $14.94 million, a 5% increase from the corresponding period last year. (2024: $14.20 million).

Profit before taxation for the first quarter ended January 31, 2025, amounted to $84.17 million, an 18% increase relative to $71.39 million reported in 2024.

Taxation for the three months had a 16% increase to reach $10.37 million (2024: $8.90 million). Net Profit for the three months amounted to $73.81 million, a 18% increase from the $62.49 million reported in 2024.

Consequently, Earnings Per Share for the three months amounted to $0.06 (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 March 14, 2025, at a price of $3.29 with a corresponding P/E ratio of 18.86x.

Balance Sheet Highlights

The company’s assets totalled $2.40 billion (2024: $2.29 billion). The movement in total assets was primarily attributable to a 30% increase in Cash and cash equivalents amounting to $275.18 million (2023: $212.35 million) and a $31.74 million increase in Director’s Current Account amounting to $70.12 million (2023: $38.38 million).

Shareholders’ equity was $1.37 billion (2024: $1.28 billion), representing a book value per share of $1.03 (2024: $0.96).

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