JK Paper Ltd

About [ edit ]

Established in 1962, JK Paper is the leading player in Office papers, Coated papers and Packaging boards. It is one of the most respected paper companies today. #

Key Points [ edit ]
  • Market Cap 2,631 Cr.
  • Current Price 155
  • High / Low 168 / 62.0
  • Stock P/E 13.4
  • Book Value 137
  • Dividend Yield 2.58 %
  • ROCE 20.8 %
  • ROE 20.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.14 times its book value
  • Company has delivered good profit growth of 108.38% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 7.21% over past five years.

Peer comparison

Sector: Paper Industry: Paper

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
795 713 869 807 713 791 821 736 469 638 745
594 476 624 589 476 563 590 559 407 523 590
Operating Profit 201 237 246 218 237 227 231 176 63 116 155
OPM % 25% 33% 28% 27% 33% 29% 28% 24% 13% 18% 21%
Other Income 6 19 14 21 19 25 29 31 27 22 26
Interest 28 32 32 36 32 33 31 33 35 32 33
Depreciation 31 36 38 27 36 36 40 37 42 45 44
Profit before tax 147 188 190 177 188 183 188 137 13 61 103
Tax % 35% 34% 41% 36% 34% 34% 30% 32% 79% 45% 37%
Net Profit 95 127 114 112 127 124 132 93 4 35 66
EPS in Rs 5.34 7.13 6.38 6.30 7.13 6.94 7.40 5.20 0.20 1.99 3.89
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,106 1,233 1,330 1,459 1,738 2,160 2,437 2,629 2,844 3,257 3,060 2,588
863 974 1,174 1,304 1,597 1,902 2,042 2,112 2,226 2,389 2,189 2,079
Operating Profit 243 259 156 155 141 259 396 517 618 868 871 510
OPM % 22% 21% 12% 11% 8% 12% 16% 20% 22% 27% 28% 20%
Other Income 11 13 20 10 -5 3 7 35 23 50 104 105
Interest 57 51 51 54 129 205 195 188 143 124 129 133
Depreciation 70 72 74 74 127 116 118 121 122 128 149 168
Profit before tax 127 148 51 38 -119 -60 89 244 375 666 696 314
Tax % 28% 28% 6% 0% 37% 69% 32% 28% 31% 36% 33%
Net Profit 91 107 49 38 -75 -18 56 172 261 427 475 197
EPS in Rs 3.55 2.78 -5.47 -1.35 3.77 11.02 14.85 23.97 26.67 11.28
Dividend Payout % 17% 17% 42% 180% 0% 0% 13% 14% 17% 15% 15%
Compounded Sales Growth
10 Years:11%
5 Years:7%
3 Years:5%
TTM:-17%
Compounded Profit Growth
10 Years:18%
5 Years:108%
3 Years:43%
TTM:-60%
Stock Price CAGR
10 Years:13%
5 Years:29%
3 Years:5%
1 Year:46%
Return on Equity
10 Years:13%
5 Years:17%
3 Years:20%
Last Year:20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
78 78 137 137 137 137 149 156 176 226 229 170
Reserves 398 511 714 739 664 639 954 1,150 1,468 1,860 2,187 2,147
Borrowings 548 538 1,094 1,784 2,248 2,104 1,892 1,698 1,310 1,515 1,731 2,156
319 334 439 443 491 448 485 592 656 969 1,194 1,550
Total Liabilities 1,343 1,461 2,383 3,103 3,538 3,328 3,478 3,596 3,608 4,522 5,290 6,022
880 896 858 824 2,577 2,370 2,752 2,688 2,654 2,706 3,142 3,094
CWIP 21 25 584 1,541 23 27 20 16 37 329 400 1,160
Investments 42 74 64 6 69 4 70 259 152 675 491 441
401 467 877 732 870 927 636 633 766 812 1,258 1,328
Total Assets 1,343 1,461 2,383 3,103 3,538 3,328 3,478 3,596 3,608 4,522 5,290 6,022

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
244 272 13 91 137 260 405 565 560 879 558
-66 -142 -602 -794 -332 -14 -34 -262 40 -1,115 -395
-204 -107 706 589 173 -240 -373 -289 -507 140 -148
Net Cash Flow -26 23 117 -114 -22 6 -2 14 93 -97 15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 19% 6% 3% 1% 5% 10% 14% 17% 24% 21%
Debtor Days 34 32 40 30 36 25 21 15 14 8 9
Inventory Turnover 6.01 6.61 5.73 5.12 4.76 4.76 4.73 4.57 5.09 3.93

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
49.17 48.41 48.41 48.42 48.42 48.40 48.40 48.40 48.89 49.36 51.11 51.44
6.62 6.89 8.54 6.97 6.11 6.61 6.46 7.14 6.96 5.78 5.54 4.73
6.54 7.93 2.36 2.54 1.41 1.59 1.01 0.85 0.80 0.80 0.24 0.25
0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
37.67 36.76 40.68 42.07 44.06 43.40 44.14 43.61 43.36 44.06 43.11 43.58

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