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Friday, Jul 12, 2002

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JB Chemicals to set up unit for `Doktor Mom'

Our Bureau

MUMBAI, July 11

J B Chemicals and Pharmaceuticals Ltd has announced plans to set up a unit to manufacture its `Doktor Mom' brand of cough lozenges and tablets in Daman.

The unit will be built as per international GMP standards at a projected cost of Rs 15 crore to be financed completely through internal accruals. The project is expected to go on stream by year 2003, Mr J.B. Mody, Chairman, told shareholders at the company's annual general meeting recently.

Profits from this new facility would be completely tax-free for the first five years. JBCPL's Doktor Mom was also adjudged the `Most trusted European brand' in 2001-02, a news release said.

Shareholders of the company also approved a final dividend of 50 per cent including a jubilee dividend of 15 per cent. The total dividend payout for the financial year 2001-02 is 75 per cent as the company had already paid 25 per cent interim dividend, the release said.

Total dividend payout for the year would be Rs 12.45 crore, 41 per cent higher than last year.

JBPCL has set up a target of reaching a turnover of Rs 500 crore by 2005. To meet the target, the company has been increasingly focusing on research and development.

So far, JBPCL has discovered 20 new molecules in various therapeutic segments and filed applications in the US, South Africa and other countries for patenting these molecules.

During the year, the company has also applied for EP4 certification to European Directorate for Quality of Medicines for its other two APIs - - Metronidazole and Diclofenac Sodium, to consolidate its position in the European markets.

The company reported 16 per cent increase in turnover at Rs 276.02 crore and a 34.56 per cent jump in net profit at Rs 42.05 crore for the financial year 2001-02.

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