JB Chemicals Q3 Review — Domestic Biz, CMO To Drive Growth; Nirmal Bang Hikes Target Price, Maintains 'Buy'

JB Chemicals remains Nirmal Bang's top pharma pick, supported by strong domestic and CDMO growth, high return ratios, and a lean balance sheet.

Nirmal Bang Institutional Research

06 Feb 2025, 10:48 AM IST i

<div class="paragraphs"><p>JB Chemicals' revenue grew 14% YoY, led by 7% volume growth in domestic formulations (versus 0% for IPM), driven by the chronic segment and acquired pediatric, Razel, and ophthalmology portfolios.</p><p> (Photo Source: Company website)</p></div>

JB Chemicals' revenue grew 14% YoY, led by 7% volume growth in domestic formulations (versus 0% for IPM), driven by the chronic segment and acquired pediatric, Razel, and ophthalmology portfolios.

(Photo Source: Company website)

JB Chemicals' CDMO business is expected to sustain robust growth through geographical expansion and product diversification.

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JB Chemicals Q3 Review — Domestic Biz, CMO To Drive Growth; Nirmal Bang Hikes Target Price, Maintains 'Buy'

JB Chemicals remains Nirmal Bang's top pharma pick, supported by strong domestic and CDMO growth, high return ratios, and a lean balance sheet.

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