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. | Taparia Tools | 4.27 | 0.06 | 6.48 | 726.00 | 28.92 | 62.11 | 219.52 | 12.64 | 45.49 | 0.02 | 26.30 | 21.28 |
| 2. | Hexa Tradex | 151.55 | 9.07 | 837.31 | 0.00 | -1.47 | 73.89 | -3.63 | -1030.77 | 3.87 | 0.22 | 2.29 | -0.76 |
| 3. | KJMC Financial | 64.48 | 35.88 | 30.86 | 0.00 | 0.02 | 103.92 | 1.18 | 84.38 | 1.83 | 0.23 | 0.70 | -0.95 |
| 4. | Kiran Vyapar | 169.10 | 8.94 | 461.38 | 0.59 | 5.20 | 400.58 | 24.21 | 17.35 | 4.10 | 0.26 | 2.73 | 2.33 |
| 5. | Kothari Products | 129.20 | 11.87 | 385.58 | 0.00 | 11.44 | 478.81 | 276.30 | -14.48 | 2.92 | 0.32 | 2.31 | 0.50 |
| 6. | Bronze Infra | 1.12 | 2.08 | 1.93 | 0.00 | -0.07 | -800.00 | -0.88 | -466.67 | 14.82 | 0.33 | 1.83 | 0.58 |
| 7. | Mathew Easow Res | 7.66 | 101.80 | 5.09 | 0.00 | 0.01 | 0.00 | 0.61 | 7.02 | 3.78 | 0.36 | 0.08 | -1.83 |
| 8. | Pacific Inds | 226.05 | 13.12 | 155.81 | 0.00 | 4.72 | 186.06 | 59.55 | 47.15 | 3.46 | 0.36 | 2.22 | 1.25 |
| 9. | GCM Capital | 6.07 | 19.77 | 10.28 | 0.00 | 0.37 | -100.00 | 0.72 | -12.80 | 2.30 | 0.37 | 1.79 | -21.86 |
| 10. | Aro Granite Inds | 54.35 | 63.48 | 83.16 | 0.00 | 0.36 | -26.53 | 32.90 | -29.94 | 5.03 | 0.43 | 0.29 | -1.28 |
| 11. | KJMC Corporate | 63.55 | 10.85 | 24.95 | 0.00 | 0.15 | -72.73 | 2.42 | 54.14 | 6.45 | 0.43 | 4.03 | 0.67 |
| 12. | Dhanlaxmi Cotex | 66.30 | 11.18 | 32.30 | 0.00 | -0.40 | 13.04 | 3.75 | -13.99 | 5.68 | 0.45 | 4.74 | 0.52 |
| 13. | Zuari Agro Chem. | 181.00 | 7.63 | 761.25 | 0.00 | 77.36 | -71.19 | 897.67 | -32.96 | 11.13 | 0.45 | 3.46 | 2.50 |
| 14. | City Pulse Multi | 130.30 | 288.20 | 43.23 | 0.00 | 0.49 | 275.00 | 1.12 | 185.71 | 2.12 | 0.48 | 1.67 | -8.07 |
| 15. | Hindustan Media | 97.50 | 96.42 | 718.30 | 0.00 | 11.10 | -13.57 | 188.05 | -0.04 | 0.24 | 0.49 | 0.34 | -1.88 |
| 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. | Oricon Enterpris | 36.70 | 48.11 | 576.37 | 1.36 | 1.06 | 62.30 | 115.65 | -7.19 | 1.95 | 0.51 | 0.93 | -2.06 |
| 17. | Indian Wood Prod | 29.64 | 94.81 | 189.62 | 0.17 | 0.53 | 15.22 | 44.50 | -0.02 | 2.00 | 0.53 | 0.27 | -0.19 |
| 18. | Alstone Textiles | 0.69 | 21.09 | 87.96 | 0.00 | 0.88 | -77.44 | 0.00 | 1.04 | 0.58 | 1.03 | -0.35 | |
| 19. | TGB Banquets | 15.80 | 30.45 | 46.28 | 0.00 | 0.66 | 22.22 | 10.78 | 18.07 | 3.48 | 0.59 | 1.05 | -7.71 |
| 20. | Diana Tea Co | 27.46 | 171.54 | 41.17 | 0.00 | -8.23 | 0.60 | 6.90 | -20.87 | 3.25 | 0.60 | 0.21 | -2.49 |
| 21. | Majestic Auto | 355.65 | 11.56 | 369.88 | 4.22 | -0.16 | 68.63 | 15.52 | 19.66 | 11.61 | 0.60 | 4.47 | 0.76 |
| 22. | Super Fine Knit. | 12.01 | 11.81 | 14.88 | 0.00 | 0.19 | 15.52 | 4.27 | 0.65 | 0.12 | -5.01 | ||
| 23. | Elegant Marbles | 257.25 | 15.80 | 94.15 | 1.28 | 1.24 | 21.57 | 9.71 | 8.73 | 5.50 | 0.67 | 3.77 | 2.67 |
| 24. | Enterprise Intl. | 24.27 | 30.17 | 7.24 | 0.00 | 0.05 | 600.00 | 1.99 | -19.43 | 1.01 | 0.68 | 0.27 | -4.11 |
| 25. | Arih.Found.Hsg. | 143.95 | 8.47 | 123.80 | 0.00 | 9.07 | 875.27 | 32.50 | 212.50 | 8.61 | 0.68 | 1.81 | -0.97 |
| Median: 55 Co. | 54.35 | 18.91 | 72.52 | 0.0 | 0.88 | 26.09 | 23.14 | -0.03 | 5.5 | 0.71 | 1.82 | -0.19 |