(Reuters) -India’s JB Chemicals & Pharmaceuticals reported a year-on-year jump in profit for the September quarter on the back of strong demand in the domestic market.
The company, which makes the Rantac antacid, reported consolidated net profit of 2.08 billion rupees ($23.7 million) for the second quarter, compared with 1.75 billion rupees a year earlier.
“JB’s domestic business continued to outperform the market, with all major brands delivering robust growth,” CEO Nikhil Chopra said in a statement.
The drugmaker’s overall revenue climbed 8% to 10.85 billion rupees in the quarter.
For further results highlights, click here.
KEY CONTEXT
The company has been outperforming the Indian pharmaceutical market, with JB Chemicals growing 12% against the markets’ 8% growth, as per clinical research firm IQVIA’s moving annual total data for September.
JB Chemicals’ domestic business revenue rose 9%, while revenue from its international business rose 7%.
PEER COMPARISON:
Valuation (next 12 Estimates (next 12 Analysts’ sentiment
months) months)
RIC PE EV/EBI Price/ Revenue Profit Mean No.
of Stock to Div
TDA Sales growth (%) growth rating* analyst price yield
(%) s target** (%)
J B Chemicals and 32.48 21.19 5.57 11.50 18.00 Buy 11 0.92 0.68
Pharmaceuticals
Glenmark 24.54 15.34 NULL 10.44 30.38 Buy 9 0.80 0.20
Pharmaceuticals
Torrent 46.93 27.18 7.98 17.11 20.10 Buy 29 0.96 0.84
Pharmaceuticals
Mankind Pharma 38.00 25.09 6.09 14.28 18.56 Buy 16 0.84 0.04
* The mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JULY-SEPTEMBER STOCK PERFORMANCE
— All data from LSEG
($1 = XX Indian rupees)
($1 = 87.8950 Indian rupees)
(Reporting by Vijay Malkar in Bengaluru; Editing by Harikrishnan Nair)
