J B Chemicals & Pharmaceuticals Ltd
J B Chemicals & Pharmaceuticals Ltd
HealthcareKey Fundamentals
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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57 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 40.3%
- Promoter holding has increased by 1.25% over last quarter.
Weaknesses
3- Stock is trading at 9.30 times its book value
- Promoter holding has decreased over last 3 years: -5.11%
- Working capital days have increased from 86.6 days to 126 days
Growth Rate
AI Analysis — Bull vs Bear
J B Chemicals & Pharmaceuticals trades at a market cap of ₹39,233 Cr with a PE of 55.2x and PB of 9.4x, reflecting premium valuations. The company has delivered consistent 19% ROE over 3 and 5 years with a near debt-free balance sheet, though TTM sales growth has decelerated to 6% from a 5-year CAGR of 15%.
- Company is almost debt-free, having actively reduced debt, providing financial flexibility for growth investments
- Consistent ROE of 19% maintained over 1-year, 3-year, and 5-year periods, indicating stable capital efficiency
- Compounded profit growth of 21% over 3 years outpaces sales growth, reflecting margin expansion and operating leverage
- Healthy dividend payout ratio of 40.3% signals shareholder-friendly capital allocation and earnings confidence
- Stock CAGR of 51% over 1 year and 34% over 10 years demonstrates sustained long-term wealth creation
- Promoter holding increased by 1.25% in the last quarter, signalling insider confidence at current levels
- 10-year compounded sales CAGR of 13% and profit CAGR of 18% reflect a durable, growing franchise
- 5-year compounded sales CAGR of 15% places the company among faster-growing mid-cap pharma names
- PE of 55.2x is significantly above the pharma sector average, leaving limited margin of safety if growth disappoints
- TTM sales growth has decelerated sharply to 6% versus the 5-year CAGR of 15%, raising questions about growth sustainability
- PB ratio of 9.4x is elevated, meaning much of the future growth is already priced into the stock
- Working capital days have increased from 86.6 to 126 days, indicating deterioration in cash conversion efficiency
- Promoter holding has declined by 5.13% over the last 3 years, partially offsetting the recent quarterly increase
- Dividend yield of just 0.9% offers limited income support relative to the premium valuation being paid
- The gap between TTM profit growth of 15% and TTM sales growth of 6% may not be sustainable if margin tailwinds fade
- At 55.2x PE, the stock needs to sustain above-20% profit growth to justify current multiples, a high bar given slowing topline
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- NCLT approves Torrent Pharma merger Jul 6
NCLT Ahmedabad sanctioned the amalgamation of J B Chemicals with Torrent Pharmaceuticals. The scheme becomes effective upon RoC filing, consolidating the company into a larger pharma platform.
- ₹49.62 Cr block trade on NSE Jul 16
Approximately 200,031 shares traded at ₹2,480.70 per share in a block deal worth ₹49.62 crores, indicating institutional-level activity.
- No encumbrance on JBCHEPHARM shares Jul 2
Torrent Pharmaceuticals declared no encumbrance on J B Chemicals shares for FY26 under SEBI (SAST) Regulations.
- Senior executives retire Jun 30 Jun 30
Pradeep Kumar Singh and Suresh Bhise retired from the company effective June 30, 2026, ceasing to be senior management personnel.
- 50th AGM held with 4 resolutions Jun 17
J B Chemicals held its 50th AGM on June 17, 2026, with four ordinary resolutions placed for shareholder approval.
TL;DR: J B Chemicals is in the final stages of being absorbed into Torrent Pharmaceuticals, with NCLT approval already secured. There are no notable headwinds in recent news, and institutional block deal activity suggests orderly positioning ahead of the merger completion. The stock's trajectory is now largely tied to the Torrent Pharma integration timeline and RoC filing.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 762 | 896 | 882 | 845 | 862 | 1,004 | 1,001 | 963 | 949 | 1,094 | 1,085 | 1,065 | 904 |
| Expenses | 599 | 664 | 638 | 621 | 664 | 724 | 730 | 709 | 723 | 793 | 775 | 769 | 703 |
| Operating Profit | 164 | 232 | 244 | 223 | 198 | 280 | 271 | 255 | 226 | 301 | 310 | 296 | 201 |
| OPM % | 21% | 26% | 28% | 26% | 23% | 28% | 27% | 26% | 24% | 28% | 29% | 28% | 22% |
| Other Income | 5 | 6 | 8 | 7 | 17 | 6 | 10 | 8 | 14 | 15 | 15 | 18 | -15 |
| Interest | 14 | 12 | 10 | 12 | 9 | 6 | 2 | 3 | 1 | 1 | 1 | 2 | 1 |
| Depreciation | 32 | 31 | 32 | 34 | 41 | 41 | 42 | 42 | 46 | 43 | 44 | 45 | 50 |
| PBT | 122 | 194 | 209 | 184 | 165 | 240 | 237 | 218 | 193 | 272 | 279 | 267 | 135 |
| Tax % | 28% | 27% | 28% | 27% | 23% | 26% | 26% | 25% | 25% | 25% | 26% | 26% | 25% |
| Net Profit | 88 | 142 | 151 | 134 | 126 | 177 | 175 | 162 | 146 | 202 | 208 | 198 | 101 |
| EPS in Rs | 5.66 | 9.19 | 9.72 | 8.62 | 8.13 | 11.39 | 11.24 | 10.45 | 9.36 | 12.96 | 13.27 | 12.63 | 6.31 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,144 | 1,210 | 1,344 | 1,408 | 1,643 | 1,775 | 2,043 | 2,424 | 3,149 | 3,484 | 3,918 | 4,148 |
| Expenses | 964 | 1,004 | 1,112 | 1,191 | 1,337 | 1,397 | 1,482 | 1,881 | 2,454 | 2,587 | 2,886 | 3,040 |
| Operating Profit | 180 | 206 | 232 | 218 | 306 | 378 | 560 | 543 | 696 | 897 | 1,032 | 1,107 |
| OPM % | 16% | 17% | 17% | 15% | 19% | 21% | 27% | 22% | 22% | 26% | 26% | 27% |
| Other Income | 11 | 58 | 50 | 37 | 41 | 41 | 112 | 39 | 10 | 37 | 38 | 33 |
| Interest | 7 | 11 | 5 | 3 | 5 | 3 | 7 | 5 | 36 | 44 | 12 | 6 |
| Depreciation | 39 | 41 | 47 | 57 | 56 | 66 | 69 | 73 | 114 | 138 | 171 | 182 |
| PBT | 146 | 212 | 230 | 194 | 287 | 349 | 597 | 505 | 555 | 752 | 887 | 952 |
| Tax % | 31% | 23% | 20% | 28% | 32% | 22% | 25% | 24% | 26% | 26% | 26% | 26% |
| Net Profit | 100 | 163 | 184 | 139 | 194 | 272 | 449 | 386 | 410 | 553 | 660 | 709 |
| EPS in Rs | 5.92 | 9.58 | 10.85 | 8.27 | 12.06 | 17.6 | 28.98 | 24.93 | 26.48 | 35.61 | 42.36 | 44.18 |
| Div. Payout % | 118% | 26% | 5% | 12% | 21% | 31% | 28% | 33% | 34% | 34% | 37% | 50% |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17 | 17 | 17 | 17 | 16 | 15 | 15 | 15 | 15 | 16 | 16 | 16 |
| Reserves | 978 | 1,167 | 1,347 | 1,425 | 1,464 | 1,420 | 1,794 | 2,119 | 2,465 | 2,908 | 3,418 | 4,143 |
| Borrowings | 127 | 193 | 49 | 29 | 26 | 29 | 45 | 55 | 572 | 378 | 28 | 4 |
| Other Liabilities | 365 | 270 | 262 | 294 | 286 | 349 | 376 | 412 | 495 | 687 | 804 | 799 |
| Total Liabilities | 1,487 | 1,648 | 1,674 | 1,765 | 1,792 | 1,814 | 2,231 | 2,601 | 3,547 | 3,988 | 4,265 | 4,962 |
| Fixed Assets | 329 | 440 | 679 | 640 | 621 | 651 | 634 | 1,277 | 1,901 | 2,004 | 1,968 | 1,885 |
| CWIP | 55 | 135 | 4 | 17 | 15 | 16 | 26 | 19 | 55 | 76 | 63 | 74 |
| Investments | 552 | 479 | 411 | 434 | 457 | 403 | 678 | 13 | 206 | 388 | 345 | 765 |
| Other Assets | 552 | 594 | 580 | 674 | 699 | 743 | 894 | 1,293 | 1,385 | 1,519 | 1,889 | 2,237 |
| Total Assets | 1,487 | 1,648 | 1,674 | 1,765 | 1,792 | 1,814 | 2,231 | 2,601 | 3,547 | 3,988 | 4,265 | 4,962 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 127 | 140 | 201 | 123 | 194 | 276 | 315 | 170 | 626 | 801 | 902 | 704 |
| Investing | -112 | -26 | -45 | -21 | -28 | 24 | -231 | 2 | -962 | -404 | -296 | -586 |
| Financing | -1 | -100 | -184 | -60 | -156 | -306 | -87 | -138 | 357 | -385 | -580 | -123 |
| Net Cash Flow | 13 | 15 | -28 | 43 | 11 | -6 | -3 | 34 | 20 | 11 | 27 | -5 |
| Free Cash Flow | 56 | -63 | 48 | 94 | 153 | 205 | 315 | -529 | -138 | 540 | 783 | 623 |
| CFO/OP | 91 | 94 | 107 | 75 | 85 | 97 | 81 | 56 | 104 | 104 | 107 | 87 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 82 | 72 | 78 | 68 | 71 | 70 | 84 | 67 | 72 | 76 | 69 |
| Inventory Days | 122 | 146 | 138 | 145 | 149 | 159 | 181 | 178 | 134 | 155 | 147 | 192 |
| Days Payable | 63 | 71 | 68 | 75 | 72 | 97 | 97 | 97 | 75 | 110 | 114 | 110 |
| Cash Conversion Cycle | 143 | 158 | 142 | 148 | 146 | 133 | 153 | 164 | 127 | 117 | 109 | 151 |
| Working Capital Days | 16 | 38 | 75 | 93 | 91 | 81 | 91 | 122 | 81 | 55 | 79 | 126 |
| ROCE % | 13% | 15% | 14% | 11% | 18% | 23% | 33% | 23% | 22% | 25% | 26% | 25% |
Documents
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Company Information
J.B. Chemicals and Pharmaceuticals Limited, established in 1976, is one of India's leading pharmaceutical companies. An integrated, publicly-listed organization with a focus on supplying affordable, quality products both in India and internationally, JBCPL is trusted by healthcare professionals globally. [1]