JB Chem & Pharma

₹1390.3 -30.4 | 2.1%

WEBSITE BSE:506943 NSE : J.B.CHEMICAL 28 Nov, 16:01

Market Cap ₹21554 Cr.

Stock P/E 44.2

P/B 7.9

Current Price ₹1390.3

Book Value ₹ 175.2

Face Value 1

52W High ₹2056.4

Dividend Yield 0.64%

52W Low ₹ 914.7

Edit Ratio

JB Chem & Pharma Research see more...

JB Chemicals: Business Analysis

Overview Inc. Year: 1976Industry: Pharmaceuticals & Drugs

J. B. Chemicals & Pharmaceuticals Ltd is an pharmaceutical company. It is an incorporated, research-orientated organization, which is focused on imparting products both in India and International markets. The Company manufactures and markets a range of herbal remedies, pharmaceutical formulations, active pharmaceutical ingredient (APIs). The Company is engaged in manufacturing distinctiveness merchandise that comprises various pharmaceutical dosage forms like drugs, injectable (vials, ampoules, form fill seal), creams & ointments, lozenges, liquids and pills. The Company's brands include Rantac (anti-peptic ulcerant), Cilacar (calcium channel blocker), Nicardia (calcium channel blocker) and Metrogyl (amoebicides).

JB Chem & Pharma Share Price

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Peer Comparison

JB Chem & Pharma Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Net Sales	606	593	601	625	785	809	793	762	896	882
Other Income	13	20	5	2	1	1	3	5	6	8
Total Income	619	613	605	627	786	811	796	767	902	889
Total Expenditure	442	466	473	500	612	625	618	599	664	638
Operating Profit	177	146	133	127	174	186	178	168	238	251
Interest	1	1	1	2	6	8	8	14	12	10
Depreciation	18	16	17	22	26	28	28	32	31	32
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	158	129	114	103	142	150	141	122	194	209
Provision for Tax	39	32	30	18	37	39	35	35	52	58
Profit After Tax	119	98	84	85	105	111	106	88	142	151
Adjustments	-0	-0	-0	-0	-0	0	0	0	0	0
Profit After Adjustments	119	98	84	85	105	111	106	88	142	151
Adjusted Earnings Per Share	7.7	6.3	5.4	5.5	6.8	7.2	6.9	5.7	9.2	9.7

JB Chem & Pharma Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	866	1022	1144	1232	1368	1414	1643	1775	2043	2424	3149	3333
Other Income	28	38	11	57	54	55	41	51	117	40	10	22
Total Income	894	1060	1155	1288	1422	1469	1685	1826	2159	2464	3159	3354
Total Expenditure	760	874	964	1026	1140	1215	1337	1397	1486	1882	2454	2519
Operating Profit	134	186	191	263	283	254	347	428	673	583	706	835
Interest	5	6	7	11	5	3	5	3	7	5	36	44
Depreciation	25	28	39	41	47	57	56	66	69	73	114	123
Exceptional Income / Expenses	0	-65	0	0	0	0	0	-10	0	0	0	0
Profit Before Tax	104	87	146	212	230	194	287	349	597	505	555	666
Provision for Tax	24	26	45	50	46	55	93	77	148	119	145	180
Profit After Tax	79	61	100	163	184	139	194	272	449	386	410	487
Adjustments	0	0	0	-0	-0	-0	-1	-0	-1	-1	-0	0
Profit After Adjustments	79	61	100	163	184	138	193	272	448	385	410	487
Adjusted Earnings Per Share	4.7	3.6	5.9	9.6	10.9	8.3	12.1	17.6	29	24.9	26.5	31.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	30%	21%	17%	14%
Operating Profit CAGR	21%	18%	23%	18%
PAT CAGR	6%	15%	24%	18%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	37%	40%	57%	38%
ROE Average	19%	22%	20%	15%
ROCE Average	23%	28%	26%	19%

JB Chem & Pharma Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1020	1043	995	1184	1364	1442	1480	1435	1810	2134	2480
Minority's Interest	0	0	0	2	2	3	3	3	4	4	0
Borrowings	7	0	0	0	0	0	0	0	0	0	383
Other Non-Current Liabilities	33	31	32	31	27	46	65	63	72	475	609
Total Current Liabilities	239	276	460	797	693	736	782	516	687	455	626
Total Liabilities	1300	1351	1487	2014	2086	2226	2329	2017	2572	3069	4098
Fixed Assets	334	311	329	440	679	640	621	651	634	1277	1901
Other Non-Current Assets	22	60	258	391	200	78	120	90	45	468	598
Total Current Assets	944	981	901	1182	1207	1509	1589	1276	1894	1325	1599
Total Assets	1300	1351	1487	2014	2086	2226	2329	2017	2572	3069	4098

JB Chem & Pharma Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	220	156	12	-5	7	-21	21	32	26	22	57
Cash Flow from Operating Activities	84	-14	127	140	201	123	194	276	315	170	626
Cash Flow from Investing Activities	-116	-142	-112	-28	-45	-21	-28	24	-231	2	-962
Cash Flow from Financing Activities	-31	12	-1	-100	-184	-60	-156	-306	-87	-138	357
Net Cash Inflow / Outflow	-63	-144	13	13	-28	43	11	-6	-3	34	20
Closing Cash & Cash Equivalent	156	12	25	9	-21	21	32	26	22	57	77

JB Chem & Pharma Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	4.69	3.63	5.92	9.58	10.85	8.28	12.06	17.6	28.98	24.93	26.48
CEPS(Rs)	6.14	5.28	8.2	12.02	13.65	11.71	15.55	21.91	33.46	29.68	33.89
DPS(Rs)	1.5	1.5	7	2.5	0.5	1	2.5	5.5	8.25	8.25	8.88
Book NAV/Share(Rs)	59.6	61.53	58.65	69.79	80.39	86.25	92.24	92.87	117.09	134.02	152.42
Core EBITDA Margin(%)	12.05	14.33	15.54	16.73	16.72	14.09	18.61	21.28	27.23	21.81	21.28
EBIT Margin(%)	12.42	9.03	13.15	18.1	17.2	13.97	17.75	19.84	29.58	20.5	18.09
Pre Tax Margin(%)	11.82	8.45	12.56	17.23	16.8	13.72	17.47	19.66	29.22	20.29	16.98
PAT Margin (%)	9.06	5.95	8.66	13.21	13.48	9.81	11.8	15.35	21.96	15.51	12.54
Cash Profit Margin (%)	11.88	8.65	12	16.55	16.93	13.84	15.19	19.09	25.32	18.44	16.04
ROA(%)	6.36	4.64	7.08	9.29	8.99	6.43	8.52	12.53	19.55	13.69	11.44
ROE(%)	8.07	5.99	9.86	14.93	14.48	9.89	13.28	18.69	27.64	19.89	18.51
ROCE(%)	10.41	8.5	13.49	17.83	16.87	13.7	19.59	23.71	36.53	25.48	22.79
Receivable days	68.16	75.3	78.41	79.28	71.84	73.15	67.63	67.22	65.62	69.29	63.16
Inventory Days	42.8	42.16	44.83	50.12	51.77	53.43	50.81	53.31	55.59	55.55	46.91
Payable days	47.94	70.5	73.91	62.53	62.76	70.44	69.69	82.55	92.33	89.07	72.35
PER(x)	7.84	17.68	16.9	13.01	15.99	18.68	14.91	14.44	21.63	31.59	37.21
Price/Book(x)	0.62	1.04	1.71	1.79	2.16	1.79	1.95	2.74	5.35	5.88	6.47
Dividend Yield(%)	4.08	2.34	7	2	0.29	0.65	1.39	2.16	1.32	1.05	0.9
EV/Net Sales(x)	0.6	1.14	1.57	1.86	2.18	1.83	1.75	2.21	4.74	5.01	4.99
EV/Core EBITDA(x)	3.87	6.29	9.42	8.74	10.54	10.15	8.28	9.17	14.4	20.84	22.28
Net Sales Growth(%)	8.01	17.98	11.97	7.64	11.1	3.32	16.23	8	15.09	18.69	29.91
EBIT Growth(%)	-87.45	-14.22	63.18	46.27	5.58	-16.09	47.71	20.75	71.55	-15.58	15.93
PAT Growth(%)	-88.28	-22.59	63.27	61.99	13.37	-24.77	39.83	40.43	64.66	-13.93	6.21
EPS Growth(%)	-88.28	-22.61	63.12	61.87	13.24	-23.72	45.66	45.99	64.66	-13.98	6.22
Debt/Equity(x)	0.05	0.09	0.13	0.16	0.04	0.02	0.02	0.02	0.02	0.01	0.23
Current Ratio(x)	3.94	3.55	1.96	1.48	1.74	2.05	2.03	2.47	2.76	2.91	2.56
Quick Ratio(x)	3.53	3.06	1.63	1.25	1.45	1.76	1.72	1.94	2.25	2.01	1.87
Interest Cover(x)	20.61	15.74	22.33	20.94	43.81	56.54	62.74	108.09	83.43	99.6	16.4
Total Debt/Mcap(x)	0.08	0.09	0.08	0.09	0.02	0.01	0.01	0.01	0	0	0.04

JB Chem & Pharma Shareholding Pattern

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	55.91	55.91	54	54	54	53.96	53.95	53.93	53.91	53.86
FII	8.37	8.74	9.12	9.22	8.85	8.66	8.8	8.63	9.54	10.05
DII	13.13	15.24	16.26	16.89	17.8	18.48	18.54	19.08	18.65	18.58
Public	22.58	20.12	20.62	19.89	19.35	18.91	18.71	18.36	17.91	17.51
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	4.32	4.32	4.17	4.17	4.17	4.17	4.17	4.17	4.17	8.35
FII	0.65	0.68	0.71	0.71	0.68	0.67	0.68	0.67	0.74	1.56
DII	1.01	1.18	1.26	1.31	1.38	1.43	1.43	1.48	1.44	2.88
Public	1.75	1.55	1.59	1.54	1.5	1.46	1.45	1.42	1.39	2.71
Others	0	0	0	0	0	0	0	0	0	0
Total	7.73	7.73	7.73	7.73	7.73	7.73	7.74	7.74	7.74	15.5

Pros

Company has delivered good profit growth of 24% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 22%
Debtor days have improved from 89.07 to 72.35days.
Company is almost debt free.

Cons

Stock is trading at 7.9 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.