JB Chemicals' CDMO business is expected to sustain robust growth through geographical expansion and product diversification.
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Nirmal Bang Report
JB Chemicals and Pharmaceuticals Ltd. is poised for double-digit growth, driven by strong domestic and contract development manufacturing organisation performance, along with high return ratios. The CDMO business is expected to sustain robust growth through geographical expansion and product diversification.
We maintain a Buy rating with a target price of Rs 2,143, valuing it at 22 times Dec'26E enterprise value/Ebitda (a 10% premium to the five-year average).
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