Buy J B Chemicals & Pharmaceuticals, target price Rs 1865: Edelweiss

Edelweiss has buy call on J B Chemicals & Pharmaceuticals with a target price of Rs 1865. The current market price of J B Chemicals & Pharmaceuticals Ltd. is Rs 1743.15. Time period given by analyst is Intra Day when J B Chemicals & Pharmaceuticals Ltd. price can reach defined target. .

J B Chemicals & Pharmaceuticals Ltd., incorporated in the year 1976, is a Mid Cap company (having a market cap of Rs 13481.09 Crore) operating in Pharmaceuticals sector.

J B Chemicals & Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals, Export Incentives, Other Operating Revenue and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 612.66 Crore, down -1.02 % from last quarter Total Income of Rs 618.96 Crore and up 35.56 % from last year same quarter Total Income of Rs 451.96 Crore. Company reported net profit after tax of Rs 97.89 Crore in latest quarter.


Investment Rationale
Higher bottom and a swing reversal coupled with a RSI Crossover is a positive sign.

Promoter/FII Holdings
Promoters held 55.91 per cent stake in the company as of 30-Sep-2021, while FIIs owned 8.74 per cent, DIIs 15.24 per cent.