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. | Utique Enterp. | 9.20 | 77.61 | 51.22 | 0.00 | -0.42 | -148.28 | 18.38 | 97.85 | -0.01 | 0.73 | 0.33 | -6.22 |
| 2. | Hindustan Media | 97.50 | 96.95 | 722.26 | 0.00 | 11.10 | -13.57 | 188.05 | -0.04 | 0.24 | 0.49 | 0.34 | -1.88 |
| 3. | Explicit Finance | 6.12 | 10.71 | 5.67 | 0.00 | 0.36 | 376.92 | 3.38 | -60.92 | 0.25 | 0.73 | 0.13 | -3.27 |
| 4. | Enterprise Intl. | 24.27 | 30.18 | 7.24 | 0.00 | 0.05 | 600.00 | 1.99 | -19.43 | 1.01 | 0.68 | 0.27 | -4.11 |
| 5. | Alstone Textiles | 0.69 | 21.09 | 87.97 | 0.00 | 0.88 | -77.44 | 0.00 | 1.04 | 0.58 | 1.03 | -0.35 | |
| 6. | KJMC Financial | 64.48 | 35.89 | 30.86 | 0.00 | 0.02 | 103.92 | 1.18 | 84.38 | 1.83 | 0.23 | 0.70 | -0.95 |
| 7. | Oricon Enterpris | 36.70 | 48.14 | 576.68 | 1.36 | 1.06 | 62.30 | 115.65 | -7.19 | 1.95 | 0.51 | 0.93 | -2.06 |
| 8. | 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 |
| 9. | City Pulse Multi | 130.30 | 288.25 | 43.24 | 0.00 | 0.49 | 275.00 | 1.12 | 185.71 | 2.12 | 0.48 | 1.67 | -8.07 |
| 10. | 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 |
| 11. | ATV Projects | 26.82 | 22.05 | 142.47 | 0.00 | 1.52 | -14.12 | 19.20 | 40.76 | 2.59 | 0.72 | 2.42 | 1.40 |
| 12. | Diana Tea Co | 27.46 | 171.52 | 41.17 | 0.00 | -8.23 | 0.60 | 6.90 | -20.87 | 3.25 | 0.60 | 0.21 | -2.49 |
| 13. | Hindoo. Mills | 288.30 | 37.68 | 47.85 | 0.00 | 0.91 | 403.33 | 22.66 | -26.00 | 3.30 | 0.96 | 1.68 | -11.06 |
| 14. | Ras Resorts | 47.04 | 103.72 | 18.67 | 0.00 | 0.51 | 54.55 | 3.91 | 5.39 | 3.40 | 0.96 | 0.54 | -0.03 |
| 15. | TGB Banquets | 15.80 | 30.40 | 46.22 | 0.00 | 0.66 | 22.22 | 10.78 | 18.07 | 3.48 | 0.59 | 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. | 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 |
| 17. | Hexa Tradex | 151.55 | 9.10 | 839.87 | 0.00 | -1.47 | 73.89 | -3.63 | -1030.77 | 3.87 | 0.22 | 2.29 | -0.76 |
| 18. | Valson Industrie | 26.69 | 20.04 | 20.44 | 0.00 | 0.17 | 168.00 | 29.15 | -10.86 | 4.05 | 0.77 | 0.04 | -2.16 |
| 19. | 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 |
| 20. | Alphageo (India) | 353.55 | 130.89 | 224.54 | 2.26 | 4.07 | 884.13 | 51.89 | 267.49 | 4.25 | 0.81 | 1.62 | -0.08 |
| 21. | Super Fine Knit. | 12.01 | 11.81 | 14.88 | 0.00 | 0.19 | 15.52 | 4.27 | 0.65 | 0.12 | -5.01 | ||
| 22. | Aro Granite Inds | 54.35 | 63.67 | 83.41 | 0.00 | 0.36 | -26.53 | 32.90 | -29.94 | 5.03 | 0.43 | 0.29 | -1.28 |
| 23. | Omax Autos | 135.25 | 1160.56 | 290.14 | 0.74 | 16.59 | -65.27 | 103.99 | 12.71 | 5.19 | 0.97 | 0.05 | -4.40 |
| 24. | Pace E-Commerce | 30.25 | 28.52 | 68.17 | 0.00 | 2.12 | 29.59 | 5.41 | 0.93 | 3.19 | 1.15 | ||
| 25. | 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 |
| Median: 50 Co. | 51.91 | 19.73 | 70.34 | 0.0 | 0.77 | 21.89 | 23.44 | -0.02 | 5.59 | 0.71 | 1.8 | -0.27 |