Jay Bee Laminations Ltd
Incorporated in 1988, Jay Bee Laminations Ltd manufactures CRGO silicons They recently discontinued CRNGO silicon steel cores recently in H1FY25.[1]
- Market Cap ₹ 211 Cr.
- Current Price ₹ 93.4
- High / Low ₹ 300 / 78.0
- Stock P/E 14.4
- Book Value ₹ 67.0
- Dividend Yield 0.00 %
- ROCE 32.1 %
- ROE 24.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 248% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.0%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 73.3 days to 115 days
* 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
Industrials Capital Goods Industrial Products Iron & Steel Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 187 | 132 | 75 | 141 | 246 | 303 | 367 | 433 | |
| 180 | 127 | 73 | 129 | 223 | 271 | 324 | 403 | |
| Operating Profit | 8 | 5 | 2 | 12 | 23 | 32 | 43 | 30 |
| OPM % | 4% | 4% | 3% | 9% | 10% | 10% | 12% | 7% |
| 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | |
| Interest | 6 | 4 | 3 | 4 | 5 | 6 | 7 | 7 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 4 |
| Profit before tax | 1 | 0 | -1 | 7 | 18 | 25 | 34 | 20 |
| Tax % | 30% | 33% | 2% | 20% | 25% | 22% | 26% | |
| 1 | 0 | -1 | 6 | 14 | 19 | 25 | 15 | |
| EPS in Rs | 34.00 | 2.00 | -42.67 | 198.33 | 453.33 | 10.76 | 11.25 | 6.50 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 38% |
| TTM: | 43% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 248% |
| 3 Years: | 61% |
| TTM: | -39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -62% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 30% |
| Last Year: | 24% |
Balance Sheet
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 18 | 23 | 23 |
| Reserves | 23 | 23 | 22 | 27 | 40 | 45 | 125 | 129 |
| 27 | 21 | 27 | 27 | 31 | 24 | 24 | 43 | |
| 31 | 25 | 4 | 38 | 34 | 50 | 57 | 30 | |
| Total Liabilities | 84 | 73 | 56 | 95 | 109 | 137 | 229 | 225 |
| 7 | 10 | 10 | 5 | 6 | 5 | 24 | 27 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 0 |
| Investments | 0 | 0 | 0 | 4 | 4 | 4 | 7 | 7 |
| 77 | 62 | 46 | 86 | 100 | 125 | 196 | 190 | |
| Total Assets | 84 | 73 | 56 | 95 | 109 | 137 | 229 | 225 |
Cash Flows
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 11 | -1 | 8 | 5 | 15 | -35 | ||
| -5 | -3 | -0 | -1 | -5 | -18 | ||
| -9 | 4 | -4 | -1 | -13 | 52 | ||
| Net Cash Flow | -2 | -0 | 3 | 4 | -3 | 0 |
Ratios
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 86 | 92 | 115 | 71 | 77 | 65 | 78 |
| Inventory Days | 47 | 65 | 99 | 157 | 61 | 64 | 93 |
| Days Payable | 62 | 75 | 12 | 114 | 52 | 58 | 55 |
| Cash Conversion Cycle | 70 | 82 | 201 | 114 | 85 | 72 | 116 |
| Working Capital Days | 44 | 53 | 109 | 55 | 48 | 57 | 115 |
| ROCE % | 9% | 3% | 22% | 35% | 38% | 32% |
Documents
Announcements
-
Analysts/Institutional Investor Meet/Con. Call Updates
5 February 2026 - Virtual one-on-one meetings with Saphire Capital (11:00) and KAPM Ventures (15:30) on Feb 06, 2026.
-
Reply to Clarification- Financial results
4 February 2026 - Clarifies delayed Oct 31, 2025 financials upload; machine-readable filings on Jan 6, 2026; IPO proceeds fully utilized Mar 31, 2025.
-
Updates
2 February 2026 - Revised business update: 9M FY26 revenue ₹332 crore; CRGO capacity 23,340 MTPA; margins down 12% QoQ.
-
Updates
2 February 2026 - Quarter ended Dec 31, 2025: Revenue ₹332 crore; CRGO capacity 23,340 MTPA; transformers commercialized.
-
Analysts/Institutional Investor Meet/Con. Call Updates
2 February 2026 - One-on-one virtual meeting with Sattva Ventures on Feb 05, 2026, organized by Kaptify.
Annual reports
Concalls
-
Nov 2025Transcript PPT REC
-
May 2025Transcript PPT REC
-
Oct 2024Transcript PPT REC
-
Sep 2024TranscriptAI SummaryPPT
Business Overview:[1]
JBLL is a manufacturer specializing in cold-rolled grain-oriented (CRGO) silicon steel cores, producing cut laminations, slit coils, and assembled cores. These components are primarily for the power and distribution transformer industry, currently catering to transformers up to 220 kV. It aims to expand into the high-voltage segment, targeting power transformers in the 400 kV and 765 kV range by the second half of FY2025.