New product launches to drive growth
J.B. Chemicals & Pharmaceuticals Ltd (JBCPL) is India’s leading pharmaceutical company that manufactures & markets a range of innovative specialty products that include various pharmaceutical dosage forms like tablets, injectable (vials, ampoules, form fill seal), creams & ointments, lozenges, herbal liquids and capsules.
Valuation: Given good business outlook both in domestic and international market, strong products portfolio with high growth brands & pan India presence, expansion of filed force and strong balance sheet, we believe the company is well poised to grow further. Hence, we initiate JB Chemicals with a BUY rating with a TP of Rs 319 based on 13x FY19E EPS.
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