Jaiprakash Associates Ltd

₹ 2.42 -4.72%

17 Mar 2026

jalindia.com BSE: 532532 NSE: JPASSOCIAT

About

Incorporated in 1995, Jaiprakash Associates Ltd is in the business of Engineering & Construction, Manufacturing of Cement, Power, Fertilizer, Real Estate development, Infrastructure, Hotel/ Hospitality, etc.^[1]

Key Points

Business Overview:^[1]
a) JAL is the flagship company of the Jaypee group
b) It is engaged in engineering and construction, cement, real estate, and hospitality businesses.
c) The company is also engaged in the construction business in the field of civil engineering, design and construction of hydropower, and river valley projects.
d) It is also undertaking power generation,
power transmission, real estate, road BOT, healthcare and fertilizer businesses through its various subsidiaries /SPVs

Website BSE NSE - BE

Market Cap ₹ 594 Cr.
Current Price ₹ 2.42
High / Low ₹ 4.32 / 2.28
Stock P/E
Book Value ₹ -21.0
Dividend Yield 0.00 %
ROCE -2.03 %
ROE %
Face Value ₹ 2.00

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Pros

Debtor days have improved from 106 to 76.8 days.

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -1.35%
The company has delivered a poor sales growth of -3.80% over past five years.
Promoter holding is low: 28.8%
Contingent liabilities of Rs.7,707 Cr.
Earnings include an other income of Rs.377 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.

Peer comparison

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	1,876	1,908	1,429	1,896	1,656	1,972	1,671	1,360	1,478	1,137	672	685	726
	1,741	1,658	1,351	1,806	1,616	1,885	1,536	1,394	1,481	1,331	691	725	807
Operating Profit	136	250	78	90	40	87	135	-34	-3	-194	-19	-41	-81
OPM %	7%	13%	5%	5%	2%	4%	8%	-3%	-0%	-17%	-3%	-6%	-11%
	-53	-308	68	15	-123	-145	-792	100	-150	-189	551	293	-278
Interest	281	174	226	253	271	266	274	288	306	301	204	234	246
Depreciation	101	77	97	96	105	95	88	78	302	106	94	94	85
Profit before tax	-299	-309	-176	-245	-459	-420	-1,020	-300	-762	-789	235	-76	-690
Tax %	5%	2%	4%	1%	4%	3%	1%	-1%	1%	-7%	1%	-2%	0%
	-315	-316	-183	-248	-476	-431	-1,026	-298	-768	-731	232	-75	-693
EPS in Rs	-1.26	-1.31	-0.74	-1.00	-1.93	-1.79	-4.17	-1.19	-3.11	-2.69	0.98	-0.28	-2.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	19,832	19,666	18,397	13,759	7,645	9,210	7,035	6,406	5,752	7,263	7,135	5,796	3,220
	13,295	13,356	13,525	12,059	8,236	9,850	7,031	5,703	5,842	6,618	6,927	5,939	3,554
Operating Profit	6,538	6,310	4,871	1,700	-591	-640	5	703	-90	645	208	-143	-334
OPM %	33%	32%	26%	12%	-8%	-7%	0%	11%	-2%	9%	3%	-2%	-10%
	530	609	75	-2,946	1,262	-261	2,702	207	-5	-520	-110	-976	377
Interest	6,233	7,338	7,847	7,469	2,486	988	1,159	1,001	998	1,056	1,010	1,176	985
Depreciation	1,708	1,694	1,820	1,888	782	592	603	568	395	381	388	576	379
Profit before tax	-874	-2,113	-4,721	-10,603	-2,597	-2,481	945	-659	-1,487	-1,312	-1,301	-2,871	-1,320
Tax %	-20%	-27%	-33%	-11%	-0%	7%	41%	1%	1%	3%	3%	-2%
	-703	-1,551	-3,164	-9,413	-2,597	-2,644	561	-667	-1,498	-1,352	-1,339	-2,823	-1,267
EPS in Rs	-3.72	-7.13	-12.13	-35.79	-7.96	-8.41	4.50	-2.71	-6.02	-5.47	-5.46	-11.17	-4.79
Dividend Payout %	-3%	-1%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-12%
5 Years:	-4%
3 Years:	0%
TTM:	-50%

Compounded Profit Growth
10 Years:	3%
5 Years:	7%
3 Years:	5%
TTM:	-12%

Stock Price CAGR
10 Years:	-11%
5 Years:	-19%
3 Years:	-31%
1 Year:	-31%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	444	486	486	486	486	486	486	489	491	491	491	491	491
Reserves	9,826	14,469	12,030	3,324	4,192	606	1,695	1,073	-406	-1,742	-3,085	-5,811	-5,639
	72,599	75,274	66,246	38,953	28,859	28,678	19,692	19,146	19,097	16,458	15,412	18,497	17,467
	19,807	19,272	21,424	18,590	16,088	26,819	14,415	15,654	18,209	22,561	23,323	21,425	20,939
Total Liabilities	102,676	109,501	100,187	61,354	49,626	56,590	36,289	36,362	37,391	37,768	36,141	34,602	33,257
	45,434	53,775	42,785	18,589	19,714	19,845	9,589	8,988	8,618	4,958	4,607	6,945	6,092
CWIP	27,124	19,420	11,321	2,866	1,465	673	679	714	247	193	289	305	162
Investments	3,042	3,026	2,713	2,127	1,318	1,210	1,671	1,462	1,462	1,492	1,203	610	717
	27,076	33,280	43,369	37,772	27,129	34,860	24,351	25,198	27,064	31,125	30,042	26,743	26,286
Total Assets	102,676	109,501	100,187	61,354	49,626	56,590	36,289	36,362	37,391	37,768	36,141	34,602	33,257

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	4,553	3,696	6,676	5,793	-855	770	827	1,076	21	761	1,170	558
	-7,316	-3,608	7,000	-1,426	15,122	-3	-266	-3	60	-116	134	-219
	2,546	-518	-14,421	-4,554	-14,220	-931	-570	-743	-281	-625	-960	-412
Net Cash Flow	-216	-430	-745	-187	47	-165	-10	330	-200	20	344	-74
Free Cash Flow	-4,128	248	12,822	4,423	14,209	641	581	1,009	-79	698	1,003	601
CFO/OP	75%	61%	138%	338%	149%	-124%	13,192%	138%	-39%	129%	605%	-433%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	39	64	84	49	93	85	120	121	194	121	119	77
Inventory Days	793	1,148	876	1,407	2,816	3,173	2,121	3,083	2,762	2,362	2,618	3,011
Days Payable	325	365	146	257	481	405	392	442	468	334	366	384
Cash Conversion Cycle	507	847	814	1,199	2,427	2,853	1,849	2,763	2,488	2,149	2,370	2,704
Working Capital Days	-171	-135	295	-226	257	83	356	430	524	474	438	272
ROCE %	6%	5%	4%	-0%	-3%	-4%	-2%	1%	-1%	3%	2%	-2%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cement Production (JAL Standalone)
Metric Tonnes ・Standalone data

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	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
	x	x	x	x	x	x	x		x	x	x
		x,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	x,xxx.xx	xx,xxx.xx
		x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	x,xxx
	xx,xxx		x,xxx	xx,xxx	xx,xxx			x,xxx	xx,xxx	x,xxx	xx,xxx
	xxx	xxx	xxx	xxx	xxx	x,xxx

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Group Installed Cement Capacity
MTPA

Hospitality Division - Number of Hotels
Number ・Standalone data

Power Segment Net Saleable Energy (JPVL)
MU

Real Estate Cumulative Possession Offered
Units

E&C Segment Order Book
INR Crores

Hotel Room Inventory
Rooms ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	37.74%	37.71%	29.97%	29.97%	30.23%	30.23%	30.23%	30.23%	30.23%	30.11%	30.11%	28.77%
	0.57%	0.89%	0.98%	2.08%	2.67%	2.25%	1.30%	1.41%	1.04%	0.56%	0.56%	0.28%
	1.28%	1.33%	9.24%	9.15%	9.11%	9.44%	9.29%	8.91%	8.91%	8.57%	8.57%	8.57%
	60.39%	60.07%	59.81%	58.80%	57.98%	58.08%	59.19%	59.46%	59.85%	60.74%	60.75%	62.38%
No. of Shareholders	6,00,841	5,84,029	5,92,282	6,04,623	6,33,593	6,54,501	6,34,638	6,36,411	6,42,726	6,47,786	6,45,515	6,47,890

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	39.34%	39.07%	38.91%	38.61%	38.47%	38.17%	38.07%	29.97%	30.23%	28.77%
	18.23%	12.65%	9.34%	4.26%	0.96%	1.10%	0.97%	2.08%	1.41%	0.28%
	6.11%	8.65%	4.20%	1.89%	1.76%	1.74%	1.28%	9.15%	8.91%	8.57%
	0.00%	0.43%	0.54%	0.64%	0.82%	0.81%	0.00%	0.00%	0.00%	0.00%
	36.32%	39.19%	47.00%	54.60%	58.00%	58.19%	59.68%	58.80%	59.46%	62.38%
No. of Shareholders	5,87,043	5,67,533	5,87,084	5,63,909	5,59,816	6,13,873	6,07,670	6,04,623	6,36,411	6,47,890

* 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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Jaiprakash Associates Ltd

Jaiprakash Associates Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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