Jagan Lamps Ltd

AI

Jagan Lamps Ltd

₹ 55.2 -2.68%
16 Sep - close price
About

Jagan Lamps Ltd manufactures automotive bulbs and lighting products from Kundli, Haryana, and Noida SEZ, operating across the “Automotive Bulbs & Lights” segment. [1]

Key Points

Business Overview:
The Co. produces 12V/24V halogen headlight bulbs, LED retrofit/signalling lamps, xenon HID and miniature lamps/headlights for passenger cars, commercial vehicles, two-wheelers, tractors and construction equipment. In Nov,2025, it launched automobile spare parts/accessories through its existing Indian and overseas distribution network.[1] [2]

  • Market Cap 40.3 Cr.
  • Current Price 55.2
  • High / Low 87.7 / 38.3
  • Stock P/E 15.0
  • Book Value 48.2
  • Dividend Yield 0.00 %
  • ROCE 7.99 %
  • ROE 5.61 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 1.14 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 6.39% over past five years.
  • Company has a low return on equity of 8.12% over last 3 years.
  • Contingent liabilities of Rs.36.2 Cr.

* 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.

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Quarterly Results

Figures in Rs. Crores

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
10.34 14.47 12.24 14.12 10.52 14.88 12.13 12.26 8.98 10.90 13.35 8.81 12.89
9.40 13.25 11.31 12.39 9.64 13.67 10.72 10.26 8.03 9.85 12.31 7.56 11.12
Operating Profit 0.94 1.22 0.93 1.73 0.88 1.21 1.41 2.00 0.95 1.05 1.04 1.25 1.77
OPM % 9.09% 8.43% 7.60% 12.25% 8.37% 8.13% 11.62% 16.31% 10.58% 9.63% 7.79% 14.19% 13.73%
0.14 0.11 0.25 0.18 0.10 0.28 -0.01 0.21 0.11 0.18 0.08 -0.01 0.12
Interest 0.05 0.06 0.04 0.07 0.11 0.20 0.26 0.37 0.20 0.21 0.15 0.11 0.13
Depreciation 0.34 0.34 0.34 0.33 0.35 0.36 0.35 0.33 0.35 0.35 0.35 0.35 0.33
Profit before tax 0.69 0.93 0.80 1.51 0.52 0.93 0.79 1.51 0.51 0.67 0.62 0.78 1.43
Tax % 24.64% 25.81% 23.75% 24.50% 30.77% 24.73% 27.85% 20.53% 27.45% 25.37% 9.68% 28.21% 25.17%
0.51 0.68 0.60 1.14 0.37 0.70 0.57 1.20 0.37 0.50 0.56 0.57 1.06
EPS in Rs 0.70 0.93 0.82 1.56 0.51 0.96 0.78 1.64 0.51 0.68 0.77 0.78 1.45
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
17.74 12.76 13.15 14.55 18.52 23.14 30.84 44.70 46.77 51.17 49.80 42.04 45.95
15.03 11.78 11.35 13.05 17.16 20.14 27.24 41.42 42.36 46.33 44.27 37.72 40.84
Operating Profit 2.71 0.98 1.80 1.50 1.36 3.00 3.60 3.28 4.41 4.84 5.53 4.32 5.11
OPM % 15.28% 7.68% 13.69% 10.31% 7.34% 12.96% 11.67% 7.34% 9.43% 9.46% 11.10% 10.28% 11.12%
0.02 0.38 0.32 0.67 1.20 0.49 0.55 1.40 0.90 0.68 0.59 0.36 0.37
Interest 0.09 0.09 0.08 0.05 0.09 0.04 0.04 0.10 0.40 0.24 0.98 0.70 0.60
Depreciation 0.88 0.83 1.23 1.18 1.22 1.21 1.20 1.24 1.35 1.35 1.39 1.40 1.38
Profit before tax 1.76 0.44 0.81 0.94 1.25 2.24 2.91 3.34 3.56 3.93 3.75 2.58 3.50
Tax % 31.25% 100.00% 33.33% 46.81% 23.20% 24.55% 28.52% 28.74% 25.00% 25.19% 24.53% 25.58%
1.21 0.00 0.54 0.51 0.97 1.70 2.08 2.39 2.66 2.94 2.84 1.92 2.69
EPS in Rs 1.75 0.00 0.78 0.74 1.41 2.47 3.02 3.34 3.64 4.03 3.89 2.63 3.68
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 33.12% 29.96% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 13%
5 Years: 6%
3 Years: -3%
TTM: -5%
Compounded Profit Growth
10 Years: %
5 Years: -2%
3 Years: -10%
TTM: -5%
Stock Price CAGR
10 Years: 19%
5 Years: 2%
3 Years: -6%
1 Year: -35%
Return on Equity
10 Years: 8%
5 Years: 9%
3 Years: 8%
Last Year: 6%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 6.89 6.89 6.89 6.89 6.89 6.89 6.89 7.16 7.30 7.30 7.30 7.30
Reserves 8.88 8.88 9.42 9.94 10.90 12.60 14.65 18.20 20.03 22.99 25.99 27.91
3.53 1.62 0.51 2.91 1.16 1.22 1.53 4.45 5.87 5.48 9.48 4.08
10.47 10.45 9.59 7.73 7.76 7.08 7.86 7.36 6.52 6.60 10.54 11.57
Total Liabilities 29.77 27.84 26.41 27.47 26.71 27.79 30.93 37.17 39.72 42.37 53.31 50.86
16.29 22.27 22.13 21.59 20.49 19.35 18.96 19.34 18.88 17.80 16.80 15.56
CWIP 6.05 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
7.43 5.57 4.28 5.88 6.22 8.44 11.96 17.83 20.84 24.57 36.51 35.30
Total Assets 29.77 27.84 26.41 27.47 26.71 27.79 30.93 37.17 39.72 42.37 53.31 50.86

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3.53 1.97 1.47 -1.92 2.21 0.61 0.49 -3.46 1.85 -0.22 -2.56 5.90
-4.62 -0.75 -1.10 -0.56 -0.12 -0.06 -0.81 -1.60 -1.06 -0.29 -0.38 -0.15
-1.04 -1.21 -0.17 2.29 -1.82 0.03 0.29 4.30 0.35 -0.59 3.12 -6.05
Net Cash Flow -2.13 0.01 0.20 -0.19 0.26 0.58 -0.03 -0.75 1.14 -1.10 0.18 -0.30
Free Cash Flow -1.09 1.21 0.37 -2.49 2.09 0.54 -0.33 -5.06 0.95 -0.49 -2.95 5.75
CFO/OP 130% 201% 82% -118% 192% 33% 28% -83% 59% 18% -28% 157%

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 63.37 24.60 54.68 65.47 69.77 60.89 69.24 71.78 71.88 67.41 76.15 65.98
Inventory Days 90.04 101.52 43.76 66.70 48.67 77.01 61.15 69.84 100.08 111.13 230.56 311.23
Days Payable 143.02 196.20 228.59 148.42 163.03 103.26 79.54 43.35 19.76 30.05 67.07 102.33
Cash Conversion Cycle 10.39 -70.07 -130.15 -16.25 -44.60 34.64 50.84 98.26 152.20 148.49 239.64 274.89
Working Capital Days -90.12 -145.31 -128.51 -89.31 -38.23 8.04 39.77 63.45 69.46 99.72 128.70 182.59
ROCE % 9.59% 5.94% 5.20% 5.09% 6.93% 11.50% 13.48% 13.01% 12.57% 12.09% 12.04% 7.99%

Insights

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Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Export Earnings (FOB Value of Exports)
Rs. in Lakhs

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Import Dependency (Share of Imported Raw Material)
%
Number of Permanent Employees
count

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
57.78% 57.78% 57.78% 57.78% 57.78% 57.78% 57.78% 57.78% 57.78% 57.78% 57.78% 57.78%
42.22% 42.22% 42.22% 42.21% 42.21% 42.22% 42.21% 42.21% 42.21% 42.21% 42.22% 42.22%
No. of Shareholders 6,2836,2758,6738,5898,5588,4378,1998,0717,9207,7287,6107,537

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