J B Chemicals & Pharmaceuticals : FY23 Annual Report

SOLID

RELIABLE

SIMPLE

AGILE

A N N U A L R E P O R T

2022-2023

OPEN

For over 46 years we, at JB Pharma have worked successfully to create innovative technologies, therapies, and brands preferred by doctors and patients across India and internationally. JB has built a strong foundation of integrity, trust and reliability by providing quality medicine and strong compliance across global markets. We have been and will always be committed to being there for our partners.

Our finger is firmly on the pulse of the world of healthcare and evolving customer needs. Our ideas and innovations in products, manufacturing processes and distribution stem from this effort. We constantly upgrade our progressive thinking and keep our manufacturing processes robust and lean. Be it in India or at a global level, we are championing the cause of spreading good health.

Our new identity has a simple, solid look that reflects the way we think and conduct ourselves. It is a symbol of our belief in

continuing to be GOOD PEOPLE for GOOD HEALTH.

Table of contents

Corporate Overview
Rich Legacy, Promising Future	04
CEO's Message	06
Board of Directors	08
Good People for Good Results	10
Good People for Good Careers	12
Good People for Good Products	14
Our Manufacturing & Quality	16
Technology & Lozenges	18
Reaching Out & Giving Back	20
ESG	21
Financial Highlights	22
Corporate Information	24
Statutory Report
Directors' Report	26
Management Discussion and
Analysis Report	42
Corporate Governance Report	45
Business Responsibility and
Sustainability Report	63

Standalone Financial Statements
Independent Auditors' Report	97
Standalone Balance Sheet	104
Standalone Statement of
Profit and Loss	105
Standalone Statement of
Cash Flow	106
Standalone Statement of
Changes in Equity	108
Notes to the Standalone
Financial Statements	110
Consolidated Financial Statements
Independent Auditors' Report	168
Consolidated Balance Sheet	174
Consolidated Statement of
Profit & Loss	175
Consolidated Statement of
Cash Flow	176
Consolidated Statement of
Changes in Equity	178
Notes to the Consolidated
Financial Statements	180
Form No. AOC-1	240
Ten-Year Financial Summary	241

GOOD PEOPLE FOR GOOD HEALTH

Rich Legacy, Promising Future

1st brick in the
foundation laid by
late Mr. J.B. Mody			Iconic product
by incorporating			Rantac
Forayed into
J.B. Chemicals &	introduced		Received first
the cardiac segment
Pharmaceuticals				FDA approval
Laboratories	with the revolutionary
			for our Panoli
(JBCPL).	product Nicardia
			Plant: T10.
	1977
					2003
1976		1985	1987	2000
				Got publicly listed and
				expanded from
				API to Formulation			Introduced	leading
								OTC brand in Russia
								for cough and cold
		Introduced the
		product Metrogyl
		that went on
		to become the
		'gold standard'
		in the industry

04	JB Pharma Annual Report 2022-23		J. B. Chemicals & Pharmaceuticals Limited

Corporate Overview	Statutory Report	Standalone	Consolidated
Financial Statements	Financial Statements

Leading private

Made a strategic

equity firm

investment in a company

Kohlberg Kravis Roberts & Co. Inc.

in South Africa called

(KKR), acquired a controlling

Acquisition of

Biotech Laboratories.

stake of JBCPL.

Azmarda and Sanzyme

2008

2020

2022

2007

2016

2021

Launch of

2023

New JB identity

Launched the

Received a silver award

Ranked 28th in the

6 brands in

product Cilacar that went

from the United States

Industry (ORG-IMS)

top 300 IPM brands

on to become a

Pharmacopeia (USP) for

with 5 brands: Rantac

as per IQVIA

leading brand in

participation in the

(Anti - Peptic Ulcer ant),

Fastest growing

cardiology and

Monograph Development &

Metrogyl (Amebicides),

nephrology.

Upgradation Program and

Blocker) and Cilacar-T

company among

preparation and distribution

featuring in top 300 brands

the top 10 players

of USP reference substance

of the Indian pharmaceutical

in the cardiology

market.

segment.

New therapeutic categories

introduced: Diabetes,

Nephrology, Respiratory,

Virology.

Rich Legacy, Promising Future		JB Pharma Annual Report 2022-23	05