J B Chemicals & Pharmaceuticals Buyback plan

J B Chemicals & Pharmaceuticals surged 8.85% to Rs 40.75 at 10:23 IST on BSE after the company scheduled a meeting of the board of directors on 8 April 2008 to consider buyback of equity shares.

The scrip touched a high of Rs 41.35 and a low of Rs 37.50 so far during the day. The stock had hit a 52-week high of Rs 101.70 on 2 January 2008 and a 52-week low of Rs 31.80 on 24 March 2008.

The small-cap pharmaceuticals firm has an equity capital of Rs 16.87 crore. Face value per share is Rs 2. Promoters hold 55.47% stake in the company (as at end December 2007).

At the current price of Rs 40.75, the scrip trades at a PE multiple of 8.05, based on Q3 December 2007 annualised EPS of Rs 5.06.

The company’s latest reserves and latest book value per share stand at Rs 404.26 crore and Rs 49.93 respectively.

J B Chemicals & Pharmaceuticals’ net profit declined 45.30% to Rs 10.67 crore on 2.90% rise in net sales to Rs 139.02 crore in Q3 December 2007 over Q3 December 2006.

J B Chemicals & Pharmaceuticals manufactures basic chemicals, petrochemicals, pharmaceuticals, photographic chemicals and agro-based products.