Indies Pharma Jamaica Limited (INDIES)
Unaudited financials for the nine months ended July 31, 2026:

Indies Pharma Jamaica Limited (INDIES) for the nine months ended July 31, 2026, reported a marginal 0.1% increase in Revenue totaling $857.13 million compared to $855.89 million in the corresponding period last year, as a Hurricane Melissa-related slump in the first quarter offset a strong recovery later in the period. Revenue for the third quarter had a 12% increase to close at $292.38 million compared to $260.04 million for the comparable quarter of 2025.

Year to date, the cost of sales amounted to $262.66 million (2025: $266.39 million), this represents a decrease of 1% year over year. Consequently, gross profit increased by 1% to $594.46 million compared to $589.51 million for the nine months ended July 31, 2025. The company booked gross profit of $204.19 million for the third quarter versus $170.00 million reported for the similar quarter of 2025.

Other operating income increased by 46% to close at $11.05 million (2025: $7.55 million), while administrative and other expenses increased by 10% from $363.02 million in 2025 to $399.12 million in the period under review. As a result, profit from operations for the nine months ended July 31, 2026, amounted to $206.40 million, a 12% decrease relative to $234.04 million reported in 2025.

Exchange results for the nine months ended July 31, 2026, reflected a loss of $2.43 million (2025: gain of $2.06 million). Finance cost – loan interest totaled $71.47 million, a 60% increase from the corresponding period last year (2025: $44.81 million), reflecting higher borrowings.

Profit before taxation for the nine months ended July 31, 2026, amounted to $132.50 million, a 31% decrease relative to $191.30 million reported in 2025. Profit before taxation for the third quarter amounted to $40.06 million (2025: $34.80 million).

The tax charge incurred for the nine months ended July 31, 2026, decreased 47% to $11.97 million (2025: $22.79 million). Net Profit for the nine months amounted to $120.53 million, a 28% decrease from the $168.51 million reported in 2025. For the third quarter, Net Profit was $38.51 million, a 25% increase relative to the prior year period (2025: $30.79 million).

Consequently, Earnings Per Share for the nine months amounted to $0.09 (2025: EPS: $0.13), while Earnings Per Share for the quarter totaled $0.03 (2025: EPS: $0.02). The twelve-month trailing EPS was $0.10 and the number of shares used in these calculations was 1,332,536,649.

Notably, INDIES’s stock price closed the trading period on September 16, 2026 at a price of $2.61 with a corresponding P/E ratio of 26.09x.

Balance Sheet Highlights

The company’s assets totaled $3.15 billion (2025: $2.78 billion). The movement in total assets was primarily attributable to a 94% increase in ‘Cash and cash equivalents’ amounting to $418.28 million (2025: $215.46 million) and a 91% increase in ‘Receivables’ amounting to $334.24 million (2025: $175.15 million), partly offset by an 86% decline in the ‘Director’s Current Account’ to $14.27 million (2025: $98.996 million).

Shareholders’ equity was $1.75 billion (2025: $1.72 billion), representing a book value per share of $1.32 (2025: $1.29).

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