June 16, 2025
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).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.