Jaiprakash Power Ventures Ltd

Jaiprakash Power Ventures Ltd

₹ 5.55 -3.48%
24 Mar - close price
About

Incorporated in 1994, Jaiprakash Power Ventures Limited (JPVL), a part of the Jaypee Group is engaged in the business of thermal and hydropower generation, coal mining, and cement grinding.[1]

Key Points

Capacity
The company presently owns and operates three Power plants with an aggregate capacity of 2220 MW, 2 MTPA Cement Grinding Units, and a 2.8 MTPA Coal Mine. [1]

  • Market Cap 3,804 Cr.
  • Current Price 5.55
  • High / Low 9.45 / 5.45
  • Stock P/E 39.2
  • Book Value 15.6
  • Dividend Yield 0.00 %
  • ROCE 5.59 %
  • ROE 1.04 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.36 times its book value
  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -0.14% over past five years.
  • Promoter holding is low: 24.0%
  • Company has a low return on equity of -4.78% over last 3 years.
  • Contingent liabilities of Rs.1,347 Cr.
  • Promoters have pledged 79.2% of their holding.
  • Promoter holding has decreased over last 3 years: -5.74%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
835 698 689 779 988 957 915 902 1,401 1,406 1,820 1,385 1,201
657 497 383 435 664 682 659 684 1,037 1,132 1,192 1,130 1,191
Operating Profit 178 202 306 344 324 275 256 218 365 275 628 256 10
OPM % 21% 29% 44% 44% 33% 29% 28% 24% 26% 20% 35% 18% 1%
-1,085 -36 11 6 6 236 11 47 51 126 9 116 5
Interest -227 143 152 152 154 140 141 137 136 143 150 138 135
Depreciation 134 119 133 134 134 119 120 121 121 119 116 117 117
Profit before tax -815 -96 32 65 42 251 7 6 158 139 372 117 -238
Tax % -123% 26% 16% 25% 120% 14% 39% 124% 33% 102% 35% 36% 8%
Net Profit -1,816 -71 27 48 -9 215 4 -1 107 -2 242 75 -218
EPS in Rs -3.03 -0.11 0.03 0.07 -0.02 0.31 0.01 -0.00 0.16 -0.00 0.35 0.11 -0.32
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
737 1,616 2,459 2,889 4,140 4,113 4,658 4,877 3,892 3,284 3,302 4,625 5,813
91 134 500 840 1,361 1,561 2,944 3,352 2,623 2,396 2,144 3,512 4,645
Operating Profit 646 1,482 1,958 2,050 2,779 2,552 1,713 1,525 1,268 887 1,157 1,113 1,168
OPM % 88% 92% 80% 71% 67% 62% 37% 31% 33% 27% 35% 24% 20%
104 71 38 24 90 75 87 41 219 -1,074 293 235 256
Interest 448 859 1,213 1,524 2,189 2,478 2,777 2,614 1,474 652 579 556 565
Depreciation 98 231 376 499 518 635 771 819 528 479 480 481 468
Profit before tax 204 462 408 51 162 -485 -1,748 -1,867 -515 -1,318 392 310 390
Tax % 20% 13% 12% 8% -4% 50% 26% 9% 29% -63% 28% 65%
Net Profit 162 401 358 47 169 -243 -1,295 -1,690 -367 -2,147 281 107 97
EPS in Rs 0.77 1.53 1.20 0.11 0.51 -0.87 -2.06 -2.66 -0.64 -3.16 0.33 0.16 0.14
Dividend Payout % 0% 0% 0% 61% 2% -115% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 11%
5 Years: 0%
3 Years: 6%
TTM: 39%
Compounded Profit Growth
10 Years: -12%
5 Years: 16%
3 Years: 31%
TTM: -57%
Stock Price CAGR
10 Years: -14%
5 Years: 2%
3 Years: 140%
1 Year: -19%
Return on Equity
10 Years: -5%
5 Years: -7%
3 Years: -5%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
2,625 2,625 2,938 2,938 2,938 2,938 5,996 5,996 5,996 6,873 6,884 6,881 6,853
Reserves 2,542 2,834 3,522 3,407 3,473 4,676 3,391 1,783 1,381 3,158 3,429 3,536 3,853
13,068 17,417 23,015 27,503 32,065 25,076 23,994 23,416 23,194 5,991 5,205 5,050 4,807
2,087 2,630 3,668 4,380 4,086 3,583 4,454 5,907 6,690 1,855 1,506 1,907 1,982
Total Liabilities 19,792 25,506 33,143 38,228 42,561 36,273 37,836 37,102 37,260 17,844 16,994 17,347 17,495
3,211 9,860 12,341 13,529 24,156 23,530 27,437 31,093 30,650 15,251 14,272 13,803 13,576
CWIP 10,324 9,565 15,124 19,631 12,696 8,029 4,848 561 534 477 411 395 399
Investments 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 21 112 234 234
4,271 4,095 3,692 3,083 3,724 2,729 3,565 3,461 4,090 2,095 2,199 2,915 3,286
Total Assets 19,792 25,506 33,143 38,228 42,561 36,273 37,836 37,102 37,260 17,844 16,994 17,347 17,495

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
591 1,508 1,872 2,249 2,676 2,816 1,413 1,782 1,178 1,028 813 845
-4,226 -6,049 -7,021 -5,059 -4,886 6,416 -802 -230 -191 -145 280 -113
3,276 3,233 5,014 3,084 2,058 -9,494 -672 -1,543 -1,020 -822 -1,136 -711
Net Cash Flow -359 -1,309 -135 274 -152 -262 -61 9 -33 61 -43 22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 77 97 78 37 66 48 80 73 111 45 87 73
Inventory Days
Days Payable
Cash Conversion Cycle 77 97 78 37 66 48 80 73 111 45 87 73
Working Capital Days -151 -532 -411 -590 -514 -301 -295 -430 -621 -59 22 44
ROCE % 5% 6% 6% 5% 6% 6% 3% 3% 3% 2% 5% 6%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
26.07 26.07 26.07 26.07 26.02 26.02 26.02 26.02 24.00 24.00 24.00 24.00
0.49 0.47 0.47 0.46 0.63 0.53 0.90 1.02 1.20 2.83 3.38 3.67
40.88 39.55 38.67 36.26 34.68 32.34 28.72 23.28 23.12 23.12 22.18 22.15
32.57 33.91 34.79 37.21 38.67 41.11 44.36 49.69 51.68 50.05 50.44 50.18

* 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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