Jyoti Resins and Adhesives Ltd

Jyoti Resins and Adhesives Ltd

₹ 1,401 -0.86%
02 Jun - close price
About

Jyoti Resins And Adhesives Ltd. is a manufacturer of synthetic resin adhesives. The company manufactures various types of wood adhesives (white glue), under the brand name of EURO 7000 , which was launched in 2006, and is now the second largest selling wood adhesive brand in India in the retail segment.

Key Points

Market Leadership
The Co.’s brand Euro 7000 has today grown rapidly and is now the 2nd largest selling wood adhesive (white glue) brand in India in the retail segment. [1]

  • Market Cap 1,681 Cr.
  • Current Price 1,401
  • High / Low 1,818 / 700
  • Stock P/E 36.2
  • Book Value 88.3
  • Dividend Yield 0.18 %
  • ROCE 72.9 %
  • ROE 55.1 %
  • 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 113% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 43.8%
  • Company's median sales growth is 37.8% of last 10 years

Cons

  • Stock is trading at 15.9 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
20 9 25 32 36 27 49 49 57 64 66 67 65
18 8 20 30 33 23 43 42 50 53 52 50 45
Operating Profit 1 1 4 2 3 4 6 7 8 11 13 16 20
OPM % 7% 11% 18% 7% 7% 15% 12% 14% 13% 17% 20% 25% 31%
1 1 1 3 2 1 0 0 2 0 0 0 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 2 1 6 5 4 5 6 7 9 11 13 16 21
Tax % 32% 18% 22% 20% 37% 22% 26% 29% 24% 16% 33% 25% 23%
Net Profit 1 1 5 4 3 4 4 5 7 9 9 12 16
EPS in Rs 1.20 0.93 3.76 3.25 2.19 3.02 3.62 4.08 5.77 7.56 7.34 10.12 13.68
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
7 10 15 26 46 41 54 69 74 101 182 261
6 9 14 25 45 40 52 66 62 91 158 201
Operating Profit 1 1 1 1 1 1 2 3 12 10 24 61
OPM % 11% 10% 5% 3% 3% 3% 3% 4% 16% 10% 13% 23%
0 -0 0 0 0 0 0 1 0 6 3 2
Interest 0 0 0 1 1 1 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 1 1 1
Profit before tax 1 1 0 0 0 1 1 3 11 16 26 61
Tax % -4% 28% 31% 33% 33% 31% 30% 28% 27% 25% 25% 24%
Net Profit 1 0 0 0 0 0 1 2 8 12 20 46
EPS in Rs 0.47 0.39 0.20 0.18 0.18 0.32 0.88 1.83 6.75 10.14 16.47 38.70
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 12% 10% 15% 16%
Compounded Sales Growth
10 Years: 38%
5 Years: 37%
3 Years: 53%
TTM: 44%
Compounded Profit Growth
10 Years: 56%
5 Years: 113%
3 Years: 81%
TTM: 153%
Stock Price CAGR
10 Years: 78%
5 Years: 124%
3 Years: 230%
1 Year: 74%
Return on Equity
10 Years: 40%
5 Years: 43%
3 Years: 44%
Last Year: 55%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
4 4 4 4 4 4 4 4 4 4 4 12
Reserves -1 -0 0 0 0 1 2 4 24 40 59 94
2 3 5 9 8 8 0 1 1 0 0 0
2 3 4 7 17 36 51 74 91 100 89 105
Total Liabilities 7 10 13 21 29 49 58 82 120 144 152 211
1 1 1 1 1 1 4 5 19 39 46 47
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 6 3 0 0
6 9 12 20 28 48 53 77 96 102 105 163
Total Assets 7 10 13 21 29 49 58 82 120 144 152 211

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-0 -1 -2 -4 1 4 3 4 7 10 3 1
-0 -0 0 -0 -0 -1 -2 -1 -7 -9 -2 -0
0 1 2 4 -1 -1 0 0 0 -2 -1 -3
Net Cash Flow 0 -0 -0 0 0 2 2 3 0 -1 -1 -2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 220 245 222 205 165 333 294 288 264 188 129 128
Inventory Days 123 112 140 139 121 110 57 43 89 44 36 13
Days Payable 159 182 135 162 166 142 26 23 41 17 8 38
Cash Conversion Cycle 183 175 227 182 119 301 325 308 313 214 157 103
Working Capital Days 188 193 186 166 85 66 -13 -22 -82 -98 -15 1
ROCE % 14% 15% 8% 7% 9% 10% 18% 43% 57% 40% 46% 73%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
47.21 47.93 48.03 48.98 48.98 48.98 49.60 49.97 49.97 50.82 50.82 50.82
0.00 0.00 0.00 0.00 0.00 0.00 1.25 2.00 2.00 0.74 0.00 0.33
52.79 52.07 51.97 51.02 51.02 51.02 49.15 48.03 48.03 48.44 49.18 48.85

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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