JB Chemicals gains as USFDA completes inspection

JB Chemicals & Pharmaceuticals rose 0.84% to Rs 332.50 at 14:37 IST on BSE after the company announced successful USFDA inspection of solid oral dosage forms formulations manufacturing facility at Panoli, Gujarat.

The announcement was made during market hours today, 27 August 2018.

Meanwhile, the S&P BSE Sensex was up 471.99 points, or 1.23%, to 38,723.79.

On the BSE, 65,000 shares were traded in the counter so far as against average daily volume of 34,000 shares in the past two weeks. The stock had hit a high of Rs 340.95 and a low of Rs 327.70 so far during the day. The stock had hit a 52-week high of Rs 344 on 1 January 2018. The stock had hit a 52-week low of Rs 236 on 11 July 2018.

The small-cap company has an equity capital of Rs 16.71 crore. Face value per share is Rs 2.

J B Chemicals & Pharmaceuticals said that the company's USFDA approved solid oral dosage forms formulations manufacturing facility at Panoli, Gujarat has successfully passed periodical inspection with two minor procedural observations. These observations do not impact continuity of company's business and the company would continue its manufacturing activities in cGMP compliant manner. The company proposes to address these observations in the next 30 days. The inspection was carried out from 20 August 2018 to 24 August 2018.

J B Chemicals & Pharmaceuticals' net profit rose 106.53% to Rs 42.07 crore on 28.94% rise in net sales to Rs 365.97 crore in Q1 June 2018 over Q1 June 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.

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