*Correction* *JB Chemicals & Pharmaceuticals Ltd.* | *CMP* Rs. 1657 | *M Cap* Rs. 12806 Cr | *52 W H/L* 1985/883
(Nirmal Bang Retail Research)
*Result is inline with expectations*
Revenue from Operations came at Rs. 593 Cr (-2.1% QoQ, 33.7% YoY) vs expectation of Rs. 567.1 Cr, QoQ Rs. 606 Cr, YoY Rs. 443.6 Cr
EBIDTA came at Rs. 126.7 Cr (-22.6% QoQ, 15.1% YoY) vs expectation of Rs. 149.9 Cr, QoQ Rs. 163.7 Cr, YoY Rs. 110.1 Cr
*Gross margin is stable QoQ, Lower EBITDA is on account of ESOP charge and non recurring exp, Adjusted EBITDA is Rs.154*
EBITDA Margin came at 21.4% vs expectation of 26.4%, QoQ 27%, YoY 24.8%
Adj. PAT came at Rs. 97.8 Cr vs expectation of Rs. 111.2 Cr, QoQ Rs. 118.9 Cr, YoY Rs. 73.8 Cr
Quarter EPS is Rs. 12.6
Share is trading at P/E of 21.7x FY23E EPS