has a buy call on J B Chemicals & Pharmaceuticals with a target price of Rs 1456. The current market price of J B Chemicals is Rs 1229.45.

J B Chemicals & Pharmaceuticals, incorporated in the year 1976, is a mid cap company with a market cap of Rs 9,541.25 crore, operating in pharmaceuticals sector.

J B Chemicals & Pharmaceuticals key products/revenue segments include pharmaceuticals, export incentives, other operating revenue and scrap for the year ending 31-Mar-2020.

Investment rationale

The brokerage remains positive considering ~45 per cent of total revenues and ~60 per cent of EBITDA contribution is from domestic formulations with strong growth visibility coupled with focus on improving productivity, portfolio expansion and cost optimisation.

For the quarter ended 31-12-2020, the company has reported a consolidated total income of Rs 604.17 crore, up 33.68 per cent from last quarters total income of Rs 451.96 crore and up 35.76 per cent from last year same quarters total income of Rs 445.01 crore. Company has a reported net profit after tax of Rs 154.28 crore in latest quarter.

Promoter/FII Holdings
Promoters held 55.91 per cent stake in the company as of March 31, 2020, while FIIs held 7.18 per cent, DIIs 14.35 per cent and public and other 22.35 per cent.

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