Jyoti Resins and Adhesives Ltd

About [ edit ]

Jyoti Resins and Adhesives is a manufacturer of synthetic resin adhesives. The Company manufactures various types of wood working adhesives under the brand name of EURO 7000.

  • Market Cap 243 Cr.
  • Current Price 607
  • High / Low 759 / 101
  • Stock P/E 22.1
  • Book Value 96.1
  • Dividend Yield 0.41 %
  • ROCE 57.2 %
  • ROE 43.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 106.52% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 37.03%
  • Promoter holding has increased by 0.95% over last quarter.

Cons

  • Earnings include an other income of Rs.5.71 Cr.
  • Company has high debtors of 263.88 days.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
16.48 16.63 17.62 17.62 16.82 18.35 17.35 18.12 19.72 8.68 24.52 32.20
15.42 16.23 17.15 16.81 15.64 15.41 14.10 15.39 18.31 7.75 20.05 29.82
Operating Profit 1.06 0.40 0.47 0.81 1.18 2.94 3.25 2.73 1.41 0.93 4.47 2.38
OPM % 6.43% 2.41% 2.67% 4.60% 7.02% 16.02% 18.73% 15.07% 7.15% 10.71% 18.23% 7.39%
Other Income 0.00 0.00 0.00 0.16 0.38 0.05 0.21 0.15 0.95 0.61 1.46 2.69
Interest 0.02 0.00 0.02 0.02 0.04 0.01 0.02 0.01 0.03 0.02 0.01 0.01
Depreciation 0.03 0.03 0.06 0.04 0.12 0.06 0.11 0.10 0.20 0.15 0.16 0.15
Profit before tax 1.01 0.37 0.39 0.91 1.40 2.92 3.33 2.77 2.13 1.37 5.76 4.91
Tax % 33.66% 27.03% 25.64% 21.98% 33.57% 8.56% 30.03% 39.71% 32.39% 18.25% 21.70% 20.37%
Net Profit 0.66 0.28 0.29 0.71 0.92 2.67 2.33 1.67 1.44 1.12 4.51 3.90
EPS in Rs 1.65 0.70 0.72 1.78 2.30 6.68 5.82 4.18 3.60 2.80 11.28 9.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
3 3 4 7 10 15 26 46 41 54 69 74 85
3 3 4 6 9 14 25 45 40 52 66 62 76
Operating Profit 0 0 0 1 1 1 1 1 1 2 3 12 9
OPM % 10% 11% 11% 11% 10% 5% 3% 3% 3% 3% 4% 16% 11%
Other Income 0 0 0 0 -0 0 0 0 0 0 1 0 6
Interest 0 0 0 0 0 0 1 1 1 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 1
Profit before tax 0 0 0 1 1 0 0 0 1 1 3 11 14
Tax % 33% 0% 33% -4% 28% 31% 33% 33% 31% 30% 28% 27%
Net Profit 0 0 0 1 0 0 0 0 0 1 2 8 11
EPS in Rs 0.05 0.40 0.40 1.40 1.18 0.60 0.52 0.55 0.98 2.62 5.50 20.25 27.43
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 12%
Compounded Sales Growth
10 Years:36%
5 Years:23%
3 Years:22%
TTM:21%
Compounded Profit Growth
10 Years:48%
5 Years:107%
3 Years:172%
TTM:45%
Stock Price CAGR
10 Years:57%
5 Years:43%
3 Years:101%
1 Year:424%
Return on Equity
10 Years:24%
5 Years:30%
3 Years:37%
Last Year:44%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
4 4 4 4 4 4 4 4 4 4 4 4 4
Reserves -2 -1 -1 -1 -0 0 0 0 1 2 4 24 34
Borrowings 1 1 1 2 3 5 9 8 8 0 1 1 0
1 1 1 2 3 4 7 17 36 51 74 91 90
Total Liabilities 4 4 5 7 10 13 21 29 49 58 82 120 129
1 1 1 1 1 1 1 1 1 4 5 19 23
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 6 2
3 3 4 6 9 12 20 28 48 53 77 96 104
Total Assets 4 4 5 7 10 13 21 29 49 58 82 120 129

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
0 -0 -0 -0 -1 -2 -4 1 4 3 4 18
-0 -0 -0 -0 -0 0 -0 -0 -1 -2 -1 -18
-0 0 0 0 1 2 4 -1 -1 0 0 0
Net Cash Flow 0 -0 0 0 -0 -0 0 0 2 2 3 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 5% 7% 8% 14% 15% 8% 7% 9% 10% 18% 43% 57%
Debtor Days 232 234 222 220 245 222 205 165 333 294 288 264
Inventory Turnover 3.01 1.60 1.20 2.98 3.60 3.27 3.50 3.29 3.41 6.22 8.83 5.09

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
41.92 43.99 45.30 45.83 46.60 47.18 47.18 47.21 47.21 47.93 48.03 48.98
58.08 56.01 54.70 54.17 53.40 52.82 52.82 52.79 52.79 52.07 51.97 51.02

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