Buy J B Chemicals & Pharmaceuticals, target price Rs 2175: Nuvama Wealth

Nuvama Wealth brokerage has buy call on J B Chemicals & Pharmaceuticals with a target price of Rs 2175.The current market price of J B Chemicals & Pharmaceuticals is Rs 1990.05. Nuvama Wealth brokerage recommended to keep stop loss at Rs 1955.

J B Chemicals & Pharmaceuticals, incorporated in the year 1976, is a Mid Cap company (having a market cap of Rs 15437.11 Crore) operating in Pharmaceuticals sector.

J B Chemicals & Pharmaceuticals key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Sale of services, Export Incentives and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 810.78 Crore, up 3.19 % from last quarter Total Income of Rs 785.70 Crore and up 32.34 % from last year same quarter Total Income of Rs 612.66 Crore. Company has reported net profit after tax of Rs 111.08 Crore in latest quarter.

The company’s top management includes Mr.Ranjit Shahani, Mr.Nikhil Chopra, Mr.Prashant Kumar, Mr.Gaurav Trehan, Mr.Sumit Bose, Ms.Padmini Khare Kaicker. Company has D N V & Co. as its auditors. As on 31-12-2022, the company has a total of 8 Crore shares outstanding.

Investment Rationale
Breakout after a base building formation at 1.900which coincides with rising trendline from Aug’22.