Indies Pharma Jamaica Limited (INDIES)

Unaudited financials for the nine months ended July 31, 2025:

Indies Pharma Jamaica Limited (INDIES) for the nine months ended July 31, 2025, reported a 1% decrease in Revenue totaling $855.89 million compared to $867.24 million in the corresponding period last year. Revenue for the third quarter had a 12% decrease to close at $260.04 million compared to $296.46 million for the comparable quarter of 2024.

Cost of Sales amounted to $266.39 million (2024: $279.35 million), this represents a decrease of 5% year over year. Consequently, gross profit increased to $589.51 million compared to $587.89 million for the nine months ended July 31, 2024. The company booked gross profit of $170.00 million for the third quarter versus $190.18 million reported for the similar quarter of 2024.

Other operating income decreased by 77% to close at $7.55 million (2024: $32.94 million), while Administrative and other expenses decreased by 4% from $378.56 million in 2024 to $363.02 million in the period under review. As a result, profit from operation for the nine months ended July 31, 2025, amounted to $234.04 million, a 3% decrease relative to $242.27 million reported in 2024.

Exchange Gain for the nine months ended July 31, 2025, amounted to $2.06 million, a 194% increase relative to $700,278 reported in 2024. Exchange Gain for the third quarter amounted to $1.71 million (2024: $444,529). Finance cost totalled $44.81 million a 6% increase from the corresponding period last year. (2024: $42.30 million).

Profit before taxation for the nine months ended July 31, 2025, amounted to $191.30 million, a 5% decrease relative to $200.67 million reported in 2024. Profit before taxation for the third quarter amounted to $34.80 million (2024: $51.09 million).

Taxation for the nine months ended July 31, 2025, had a 9% decrease to reach $22.79 million (2024: $24.95 million). Net Profit for the year for the nine months amounted to $168.51 million, a 4% decrease from the $175.72 million reported in 2024. For the third quarter, Net Profit for the year was $30.79 million (2024: $44.32 million).

Total Comprehensive Income for the nine months amounted to $603.51 million for the period, largely driven by a $435.00 million gain on revaluation of Fixed Assets. This compares to $175.72 million reported in 2024, which had no such revaluation gain. For the third quarter, Total Comprehensive Income was $465.79 million (2024: $44.32 million), again reflecting the impact of the $435.00 million revaluation gain recorded during the period.

Consequently, Earnings Per Share for the nine months amounted to $0.13 (2024: EPS: $0.13), while Earnings Per Share for the quarter totaled $0.02 (2024: EPS: $0.03). The twelve-month trailing EPS was $0.16, 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 11, 2025, at a price of $3.09 with a corresponding P/E ratio of 19.24x.

Balance Sheet Highlights

The company’s assets totalled $2.78 billion (2024: $2.23 billion). This increase in total assets was attributable to property, plant and equipment which amounted to $1.33 billion (2024: $877.06 million).

Shareholders’ equity was $1.72 billion (2024: $1.25 billion), representing a book value per share of $1.29 (2024: $0.94).

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