piotroskis
Joseph Piotroski is a numbercrunching accountant with a knack for identifying unpopular stocks that could turn into big winners. His research focuses on companies that have had high bookto-market ratios (B-M), that is, stocks with book values higher than their market values. The reasons for high B-M ratios can be attributed to the financial distress that these companies might be facing. However, using a series of balance sheet and accounting measures, Piotroski developed a methodology to pick gems from this morass. According to Piotroski, the key to improving returns is to avoid the slugs and focus on the quality, high B-M stocks. These stocks can be great investments because their share prices are likely to jump once the market recognises their potential.
by Irfan In
| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | CMP / BV | ROA 12M % | ROA Prev Yr % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | IRB InvIT Fund | 66.16 | 10.29 | 3840.59 | 184.00 | -19.41 | 543.69 | 1.12 | 9.37 | 0.98 | 2.97 | 2.92 | |
| 2. | Aro Granite Inds | 52.55 | 61.37 | 80.40 | 0.00 | 0.36 | -26.53 | 32.90 | -29.94 | 5.03 | 0.42 | 0.29 | -1.28 |
| 3. | Paramount Cosmet | 41.00 | 71.11 | 19.91 | 0.00 | 0.03 | 50.00 | 6.28 | -20.20 | 6.08 | 0.97 | 0.46 | -8.50 |
| 4. | ATV Projects | 26.76 | 22.00 | 142.15 | 0.00 | 1.52 | -14.12 | 19.20 | 40.76 | 2.59 | 0.72 | 2.42 | 1.40 |
| 5. | Mathew Easow Res | 8.28 | 110.20 | 5.51 | 0.00 | 0.01 | 0.00 | 0.61 | 7.02 | 3.78 | 0.39 | 0.08 | -1.83 |
| 6. | KEN Fin.Serv. | 16.25 | 19.52 | 4.88 | 0.00 | 0.05 | -75.00 | 0.15 | -65.91 | 9.01 | 0.69 | 3.32 | 2.89 |
| 7. | Explicit Finance | 5.90 | 10.32 | 5.47 | 0.00 | 0.36 | 376.92 | 3.38 | -60.92 | 0.25 | 0.71 | 0.13 | -3.27 |
| 8. | Lead Financial S | 16.50 | 25.95 | 5.45 | 0.00 | 0.08 | -52.94 | 0.15 | -34.78 | 3.37 | 0.94 | 1.37 | 0.99 |
| 9. | Utique Enterp. | 9.59 | 80.89 | 53.39 | 0.00 | -0.42 | -148.28 | 18.38 | 97.85 | -0.01 | 0.76 | 0.33 | -6.22 |
| 10. | Riba Textiles | 77.00 | 7.88 | 74.31 | 0.00 | 1.85 | 134.18 | 56.35 | -4.56 | 10.07 | 0.87 | 4.58 | 3.12 |
| 11. | Valson Industrie | 27.75 | 20.84 | 21.26 | 0.00 | 0.17 | 168.00 | 29.15 | -10.86 | 4.05 | 0.80 | 0.04 | -2.16 |
| 12. | Enterprise Intl. | 23.96 | 29.79 | 7.15 | 0.00 | 0.05 | 600.00 | 1.99 | -19.43 | 1.01 | 0.67 | 0.27 | -4.11 |
| 13. | Dhanlaxmi Cotex | 63.15 | 10.64 | 30.76 | 0.00 | -0.40 | 13.04 | 3.75 | -13.99 | 5.68 | 0.43 | 4.74 | 0.52 |
| 14. | Sangal Papers | 190.00 | 11.16 | 24.89 | 0.00 | 1.15 | 228.57 | 45.56 | -22.57 | 11.78 | 0.63 | 4.11 | 2.27 |
| 15. | TGB Banquets | 17.00 | 32.76 | 49.79 | 0.00 | 0.66 | 22.22 | 10.78 | 18.07 | 3.48 | 0.64 | 1.05 | -7.71 |
| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | CMP / BV | ROA 12M % | ROA Prev Yr % |
| 16. | Hindustan Media | 104.00 | 102.84 | 766.18 | 0.00 | 11.10 | -13.57 | 188.05 | -0.04 | 0.24 | 0.52 | 0.34 | -1.88 |
| 17. | Bronze Infra | 1.10 | 2.04 | 1.90 | 0.00 | -0.07 | -800.00 | -0.88 | -466.67 | 14.82 | 0.33 | 1.83 | 0.58 |
| 18. | Galada Finance | 16.50 | 22.50 | 4.95 | 0.00 | 0.04 | -33.33 | 0.37 | 68.18 | 4.52 | 0.93 | 0.14 | -3.25 |
| 19. | Arih.Found.Hsg. | 153.00 | 9.00 | 131.58 | 0.00 | 9.07 | 875.27 | 32.50 | 212.50 | 8.61 | 0.72 | 1.81 | -0.97 |
| 20. | Indl. Inv. Trust | 150.20 | 20.62 | 338.66 | 0.00 | 41.06 | -27.55 | 7.42 | 14.86 | 15.56 | 0.89 | 12.02 | -10.62 |
| 21. | Intrasoft Tech. | 126.75 | 19.05 | 186.70 | 0.00 | 2.36 | -3.67 | 121.50 | 2.96 | 7.64 | 0.88 | 2.62 | 2.47 |
| 22. | KJMC Financial | 69.45 | 38.65 | 33.24 | 0.00 | 0.02 | 103.92 | 1.18 | 84.38 | 1.83 | 0.25 | 0.70 | -0.95 |
| 23. | KJMC Corporate | 70.48 | 12.03 | 27.67 | 0.00 | 0.15 | -72.73 | 2.42 | 54.14 | 6.45 | 0.47 | 4.03 | 0.67 |
| 24. | Nectar Lifesci. | 34.65 | 155.72 | 777.06 | 0.00 | 0.59 | -83.97 | 441.38 | 13.52 | 5.98 | 0.73 | 0.23 | -2.82 |
| 25. | Solid Stone Co | 34.36 | 20.78 | 18.49 | 0.00 | 0.20 | -13.04 | 4.91 | -40.34 | 7.72 | 0.87 | 1.18 | -1.68 |
| Median: 37 Co. | 38.8 | 20.84 | 43.31 | 0.0 | 0.49 | 6.52 | 16.69 | 0.55 | 5.5 | 0.71 | 1.37 | -0.97 |