JB Chemicals drops after posting poor Q4 results

JB Chemicals & Pharmaceuticals dropped 2.28% to Rs 335.80 at 9:40 IST on BSE after net profit fell 21.32% to Rs 39.69 crore on 2.97% rise in net sales to Rs 294.07 crore in Q4 March 2017 over Q4 March 2016.

The result was declared after market hours yesterday, 23 May 2017.

Meanwhile, the S&P BSE Sensex was up 68.45 points, or 0.23%, to 30,433.70. The S&P BSE Small-Cap index was down 18.19 points, or 0.12%, to 14,751.67.

On the BSE, 2,666 shares were traded in the counter so far as against average daily volume of 10,926 shares in the past one quarter. The stock had hit a high of Rs 344.25 and a low of Rs 330.80 so far during the day. The stock had hit a record high of Rs 403.60 on 14 October 2016. The stock had hit a 52-week low of Rs 231 on 24 June 2016.

The stock had underperformed the market over the past one month till 23 May 2017, rising 2.48% compared with Sensex's 3.41% gains. The scrip had also underperformed the market in past one quarter, advancing 3.57% as against Sensex's 5.1% rise.

The small-cap company has an equity capital of Rs 16.96 crore. Face value per share is Rs 2.

JB Chemicals & Pharmaceuticals' board recommended a dividend of Re 1 per share for the year ended 31 March 2017 (FY 2017).

Meanwhile, JB Chemicals & Pharmaceuticals' board of directors approved the buy-back of up to 12.5 lakh shares, representing 1.47% of total paid up share capital at Rs 400 per share for a total consideration not exceeding Rs 50 crore, through the tender offer route on a proportionate basis.

The buyback price of Rs 400 was at a premium of 16.39% over the closing price of Rs 343.65 yesterday, 23 May 2017.

J B Chemicals & Pharmaceuticals is a pharmaceutical company manufacturing & marketing a diverse range of pharmaceutical formulations, herbal remedies and active pharmaceutical ingredient (API)'s.

Powered by Capital Market - Live News