JCT Ltd

₹ 1.39 -4.79%

09 Dec - close price

About

Incorporated in 1946, JCT Ltd is a manufacturer of cloth and nylon filament yarn^[1]

Key Points

Business Overview:^[1]
JCTL is the flagship company of Thapar Group. It is a manufacturer of textiles and filament yarn with operations in 2 distinct businesses – cotton, synthetic & blended textiles and nylon filament yarn. Company was the first textile manufacturer in the country to introduce eco -friendly fabrics made of organic cotton and its textile division was the first in the industry to be accredited with an ISO 9001 certification. JCTL’s other operations include Filament Yarn. Company was also the first to set up a Colour Picture Tube plant in India (manufactured by JCT Electronics Ltd. in technical collaboration with Hitachi Ltd, Japan)

Website BSE

Market Cap ₹ 121 Cr.
Current Price ₹ 1.39
High / Low ₹ 4.57 / 1.24
Stock P/E
Book Value ₹ 3.11
Dividend Yield 0.00 %
ROCE -9.86 %
ROE -30.0 %
Face Value ₹ 2.50

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Pros

Stock is trading at 0.45 times its book value
Debtor days have improved from 24.9 to 18.7 days.

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -3.35% over past five years.
Promoter holding is low: 27.2%
Company has a low return on equity of -11.6% over last 3 years.
Contingent liabilities of Rs.42.2 Cr.
Promoters have pledged 99.9% of their holding.
Company's cost of borrowing seems high

* 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: Textiles Industry: Textiles - Composite

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	133	131	187	206	152	197	219	237	196	173	153	117	113
	117	124	167	182	144	190	217	224	189	185	167	142	140
Operating Profit	16	8	20	24	8	7	2	13	6	-12	-14	-25	-26
OPM %	12%	6%	11%	12%	5%	3%	1%	5%	3%	-7%	-9%	-21%	-23%
	2	1	4	1	1	3	9	32	3	1	8	1	1
Interest	10	11	11	15	13	13	13	13	10	10	10	13	13
Depreciation	3	3	3	5	4	3	3	3	3	4	3	3	2
Profit before tax	4	-6	10	6	-7	-6	-5	28	-3	-25	-19	-39	-40
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	4	-6	10	6	-7	-6	-5	28	-3	-25	-19	-39	-40
EPS in Rs	0.05	-0.07	0.13	0.07	-0.08	-0.07	-0.06	0.32	-0.03	-0.29	-0.21	-0.45	-0.46
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Sep 2013 18m	Mar 2014 6m	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	773	1,235	461	961	855	804	758	800	693	657	804	639	557
	760	1,194	429	897	799	769	738	768	696	590	774	683	633
Operating Profit	14	40	32	63	56	34	20	32	-3	67	30	-44	-77
OPM %	2%	3%	7%	7%	7%	4%	3%	4%	-0%	10%	4%	-7%	-14%
	7	-1	4	7	19	17	10	7	16	8	45	14	12
Interest	41	53	17	34	39	37	36	40	43	46	51	44	46
Depreciation	47	74	17	28	30	31	30	23	15	15	13	12	12
Profit before tax	-68	-87	3	9	5	-17	-36	-23	-45	15	10	-85	-123
Tax %	0%	1%	-33%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-68	-88	3	9	5	-17	-36	-23	-45	15	10	-85	-123
EPS in Rs	-1.90	-1.99	0.06	0.16	0.09	-0.29	-0.60	-0.28	-0.53	0.18	0.11	-0.98	-1.41
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	-3%
3 Years:	-3%
TTM:	-34%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-31%
TTM:	-969%

Stock Price CAGR
10 Years:	-9%
5 Years:	8%
3 Years:	-39%
1 Year:	-52%

Return on Equity
10 Years:	%
5 Years:	-13%
3 Years:	-12%
Last Year:	-30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Sep 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Equity Capital	90	110	139	139	146	150	150	210	210	210	217	217
Reserves	-38	-132	-61	-53	-42	-56	-90	137	108	131	135	53
	444	479	369	371	309	258	240	196	174	192	182	198
	238	241	256	247	256	273	301	320	355	313	326	340
Total Liabilities	734	699	703	704	670	625	601	863	847	845	860	808
	457	414	398	387	368	348	322	584	593	582	569	561
CWIP	2	2	4	2	1	3	3	3	2	1	1	2
Investments	42	38	37	37	5	2	2	2	2	2	2	2
	233	244	264	278	296	272	274	274	251	261	288	243
Total Assets	734	699	703	704	670	625	601	863	847	845	860	808

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Sep 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	54	55	-77	53	59	75	46	58	69	-2	33	18
	-25	-23	1	-13	30	-1	4	-3	9	1	39	8
	-44	-25	68	-33	-89	-77	-53	-56	-65	-11	-73	-26
Net Cash Flow	-15	6	-7	7	-1	-3	-2	-1	13	-12	-1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Sep 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	23	17	53	31	34	30	26	21	13	29	27	19
Inventory Days	94	60	188	99	130	155	161	139	177	196	151	166
Days Payable	93	51	175	78	69	101	128	109	141	168	128	146
Cash Conversion Cycle	23	25	67	51	96	84	59	50	49	56	51	39
Working Capital Days	-86	-51	-50	-27	19	-6	-23	13	-32	7	11	-27
ROCE %	-5%	-4%		10%	9%	3%	-2%	4%	-3%	11%	4%	-10%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%	27.25%
	6.24%	6.28%	6.35%	6.31%	6.31%	6.31%	6.30%	6.30%	6.30%	6.26%	6.26%	6.25%
	22.28%	13.39%	11.56%	11.56%	11.39%	2.98%	2.98%	2.98%	2.98%	2.98%	2.98%	2.98%
	44.24%	53.08%	54.85%	54.89%	55.05%	63.46%	63.45%	63.47%	63.46%	63.51%	63.51%	63.52%
No. of Shareholders	1,04,057	1,15,834	1,30,372	1,52,366	1,53,686	1,55,451	1,53,815	1,55,396	1,53,912	1,54,012	1,53,774	1,59,662

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	38.18%	39.56%	39.56%	28.22%	28.22%	28.22%	27.25%	27.25%	27.25%
	9.27%	0.00%	0.00%	20.63%	6.47%	6.47%	6.31%	6.30%	6.25%
	7.88%	14.16%	13.94%	17.94%	40.98%	28.69%	11.56%	2.98%	2.98%
	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	44.62%	46.28%	46.50%	33.21%	24.33%	36.62%	54.89%	63.47%	63.52%
No. of Shareholders	97,758	96,371	94,486	91,993	90,364	93,574	1,52,366	1,55,396	1,59,662

* 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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JCT Ltd

JCT Ltd

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Shareholding Pattern

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