J B Chemicals & Pharmaceuticals, a Rs.900 crore plus Mumbai based pharma major, has reported impressive profit growth during the first quarter ended June 2014. Its net profit moved up sharply by 56.4 per cent to Rs.31.79 crore from Rs.20.33 crore in the corresponding period of last year. Its net sales increased by 12 per cent to Rs.256.71 crore from Rs.229.17 crore. The net sales for the quarter are strictly not comparable due to the company's wholly owned subsidiary in Dubai commencing sales and distribution of the products in Russia-CIS countries during the quarter.

Its EPS worked out 3.75 as against Rs.2.40 in the last period. Its EBDITA increased by 18.5 per cent to Rs.49.60 crore from Rs.41.86 crore.

The domestic formulations business registered growth of 19 per cent to Rs.104 crore. The company is fully focused on this business which has significant value potential. Its formulations export impoved by 9 per cent to Rs.119 crore. The exports of formulations to RoW markets improved by 19 per cent to Rs.84 crore. Its API sales improved by 5 per cent to Rs.24 crore.

J B Chemicals has undertaken expansion progrmme to create additional capacity for tablets, liquid, ointments, vials, eye drops, lozenges and diclofenac API plant. It plans to invest Rs.140 crore in this new capacity and related infrastructure in the next 12-18 months. The company has strong reserves & surplus position of Rs.1,031 crore as against equity capital of Rs.16.94 crore.