Indies Pharma Jamaica Limited (INDIES)

Unaudited financials for the first quarter ended January 31, 2026:

Indies Pharma Jamaica Limited (INDIES) for the first quarter ended January 31, 2026, reported a 14% decline in revenue, totaling $279.84 million, compared to $325.45 million in the corresponding three‑month period last year.

Year to date, Cost of Sales amounted to $98.41 million (2025: $106.18 million), reflecting a 7% year‑over‑year decrease. Consequently, gross profit declined by 17% to $181.43 million, compared to $219.65 million for the first quarter ended January 31, 2025.

Notably, Other operating income increased by 88% to close at $4.82 million (2025: $2.57 million), while Administrative and other expenses rose by 8%, moving from $121.36 million in 2025 to $130.70 million for the three‑month period. As a result, profit from operations for the first quarter amounted to $55.54 million, representing a 45% decline relative to the $100.85 million reported in 2025.

Exchange losses for the three months amounted to $1.91 million (2025: exchange loss of $1.36 million). Finance costs – loan interest totaled $27.86 million, reflecting an 87% increase compared to the corresponding period last year (2025: $14.94 million).

Profit before taxation for the first quarter ended January 31, 2026, amounted to $25.77 million, representing a 70% decrease relative to the $84.55 million reported in 2025.

Taxation for the three months declined by 61% to $4.01 million (2025: $10.37 million). Consequently, net profit for the period amounted to $21.76 million, a 71% decrease from the $74.19 million reported in the prior year.

Consequently, Earnings Per Share for the three months amounted to $0.02 (2025: EPS: $0.06). 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 March 23, 2026, at a price of $2.99 with a corresponding P/E ratio of 30.83x.

Balance Sheet Highlights

The company’s assets totaled $3.15 billion (2025: $2.40 billion). The movement in total assets was primarily attributable to a 53% increase in PP&E to $1.33 billion (2024: $871.17 million).

Shareholder’s equity was $1.75 billion (2025: $1.37 billion), representing a book value per share of $1.31 (2025: $1.03).

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