Indies Pharma Jamaica Limited (INDIES)

Audited financials for the twelve months ended October 31, 2025

Indies Pharma Jamaica Limited (INDIES), for the twelve months ended October 31, 2025, reported a 3% decline in revenue, totalling $1.13 billion, compared to $1.16 billion in the corresponding period of 2024. Revenue for the fourth quarter decreased by 7%, closing at $270.43 million, versus $291.73 million recorded for the comparable quarter last year.

Cost of Sales amounted to $350.85 million (2024: $384.30 million), reflecting a 9% year‑over‑year reduction. Consequently, gross profit remained relatively flat at $775.47 million, compared to $774.67 million reported for the twelve months ended October 31, 2024. For the fourth quarter, gross profit amounted to $185.96 million, marginally below the $186.82 million recorded for the similar quarter of 2024.

Other operating income declined sharply by 71%, closing at $10.57 million (2024: $35.86 million). Meanwhile, administrative and other expenses increased by 4%, rising from $503.47 million in 2024 to $523.94 million for the period under review. As a result, profit from operations totalled $262.10 million, representing a 15% decline relative to the $307.06 million achieved in 2024.

Exchange gain for the twelve months amounted to $723,039, a 92% decrease compared to the $8.78 million gain reported in 2024. For the fourth quarter, exchange loss totalled $1.34 million, versus a gain of $8.08 million in the prior year. Finance costs totalled $62.45 million, representing a 3% decline from $64.07 million reported in 2024.

Profit before taxation for the twelve months ended October 31, 2025, amounted to $200.37 million, a 20% decrease relative to the $251.77 million reported for the corresponding period in 2024. For the fourth quarter, profit before taxation closed at $9.07 million (2024: $51.14 million).

Taxation decreased by 38%, amounting to $19.08 million (2024: $30.60 million). Net profit for the year totalled $181.29 million, an 18% decrease from the $221.18 million reported in 2024. For the fourth quarter, net profit amounted to $12.78 million, compared to $45.50 million for the similar quarter of 2024.

Consequently, Earnings Per Share (EPS) for the twelve months amounted to $0.14 (2024: $0.17), while EPS for the fourth quarter totalled $0.01 (2024: $0.03). The twelve‑month trailing EPS was $0.14, based on 1,332,536,649 shares in issue.

Balance Sheet Highlights

The company’s assets totaled $3.06 billion (2024: $2.31 billion). The movement in total assets was primarily attributable to 52% increase in Property, Plant and Equipment amounting to $1.33 billion (2024: $875.56 million).

Shareholder’s equity was $1.73 billion (2024: $1.29 billion), representing a book value per share of $1.30 (2024: $0.97).

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