Jaiprakash Associates Ltd

₹ 6.48 -5.12%

23 Dec - close price

jalindia.com BSE: 532532 NSE: JPASSOCIAT

About

Jaiprakash Associates Limited is a Noida based Construction company mainly engaged in the business of Engineering & Construction, Manufacturing of Cement, Power, Real Estate Development, Hotel/ Hospitality, Sports, etc. ^[1]

Key Points

Revenue Segments FY22
Fertilisers: 37%
Construction: 33.5%
Cement: 22%
Real Estate/ Infrastructure Revenue: 4%
Hotel & Hospitality Revenue: 3%
Others: 0.5% ^[1]

Website BSE NSE - BE

Market Cap ₹ 1,591 Cr.
Current Price ₹ 6.48
High / Low ₹ 27.2 / 5.95
Stock P/E
Book Value ₹ 9.51
Dividend Yield 0.00 %
ROCE 3.39 %
ROE -19.6 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Stock is trading at 0.68 times its book value
Market value of investments Rs.2,508 Cr. is more than the Market Cap Rs.1,591 Cr.
Company's working capital requirements have reduced from 247 days to 83.5 days

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -12.3% over past five years.
Promoter holding is low: 30.2%
Company has a low return on equity of -17.4% over last 3 years.
Contingent liabilities of Rs.7,345 Cr.
Company has high debtors of 209 days.
Company's cost of borrowing seems high
Promoter holding has decreased over last 3 years: -7.89%

* 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: Construction Industry: Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	1,022	1,082	856	837	1,082	984	1,191	689	1,214	710	935	873	612
	1,054	1,075	1,060	816	1,084	856	968	645	1,164	653	793	788	577
Operating Profit	-32	7	-204	21	-2	127	223	44	50	57	142	84	34
OPM %	-3%	1%	-24%	3%	-0%	13%	19%	6%	4%	8%	15%	10%	6%
	117	39	-25	-77	56	-33	-295	41	34	-228	-507	-862	-7
Interest	222	251	213	246	272	241	143	194	229	243	247	247	255
Depreciation	105	94	61	59	92	59	58	59	60	59	58	54	48
Profit before tax	-242	-299	-502	-361	-310	-205	-274	-168	-206	-473	-669	-1,078	-276
Tax %	1%	2%	1%	1%	1%	3%	1%	2%	1%	2%	1%	0%	0%
	-244	-306	-506	-363	-312	-212	-275	-172	-208	-482	-674	-1,080	-277
EPS in Rs	-0.99	-1.24	-2.06	-1.48	-1.27	-0.86	-1.12	-0.70	-0.85	-1.97	-2.75	-4.40	-1.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	13,335	13,116	11,050	8,656	6,219	6,049	6,833	4,619	4,343	2,967	3,955	3,548	3,130
	9,943	9,737	8,746	7,786	6,224	4,942	6,192	4,362	3,604	3,072	3,519	3,240	2,812
Operating Profit	3,392	3,379	2,304	870	-5	1,107	642	257	739	-105	436	308	318
OPM %	25%	26%	21%	10%	-0%	18%	9%	6%	17%	-4%	11%	9%	10%
	188	597	376	-188	-340	760	-272	89	164	-2	-449	-660	-1,604
Interest	2,104	2,863	3,563	3,757	3,623	1,009	748	825	771	856	901	927	992
Depreciation	726	774	949	914	878	507	395	412	389	254	235	237	218
Profit before tax	751	340	-1,832	-3,989	-4,845	352	-774	-891	-257	-1,217	-1,150	-1,516	-2,496
Tax %	33%	-22%	-30%	-29%	-10%	0%	0%	0%	6%	1%	1%	1%
	501	414	-1,279	-2,821	-4,362	352	-774	-893	-271	-1,232	-1,162	-1,536	-2,514
EPS in Rs	2.26	1.87	-5.26	-11.60	-17.93	1.45	-3.18	-3.67	-1.11	-5.02	-4.73	-6.26	-10.25
Dividend Payout %	22%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-12%
5 Years:	-12%
3 Years:	-7%
TTM:	-23%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-71%

Stock Price CAGR
10 Years:	-13%
5 Years:	25%
3 Years:	-13%
1 Year:	-68%

Return on Equity
10 Years:	-14%
5 Years:	-13%
3 Years:	-17%
Last Year:	-20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	444	444	486	486	486	486	486	486	489	491	491	491	491
Reserves	12,889	13,253	17,909	11,438	7,072	9,845	8,267	7,369	7,130	5,898	4,740	3,201	1,844
	24,343	28,164	30,886	27,765	25,587	6,409	6,186	6,443	6,451	6,464	4,059	3,323	3,142
	8,318	6,991	7,788	9,925	13,309	19,656	22,881	24,233	25,736	27,901	32,196	32,745	33,326
Total Liabilities	45,993	48,852	57,069	49,614	46,455	36,396	37,821	38,532	39,806	40,753	41,486	39,760	38,804
	13,158	14,862	17,746	6,683	6,449	6,715	7,098	6,778	6,420	6,347	3,177	3,004	2,923
CWIP	5,801	4,981	4,324	1,652	1,789	1,201	472	479	516	49	50	111	153
Investments	8,890	10,369	10,303	7,799	7,196	7,511	7,431	7,425	7,398	7,324	6,933	6,319	5,924
	18,145	18,640	24,696	33,480	31,021	20,970	22,820	23,849	25,473	27,034	31,325	30,326	29,803
Total Assets	45,993	48,852	57,069	49,614	46,455	36,396	37,821	38,532	39,806	40,753	41,486	39,760	38,804

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,521	263	1,011	3,892	3,507	51	382	296	269	3	252	974
	-3,094	-1,638	-105	519	-491	11,887	45	-28	-28	37	9	278
	1,893	943	-858	-4,762	-3,001	-11,890	-571	-241	-96	-105	-306	-853
Net Cash Flow	320	-432	49	-351	15	48	-144	27	144	-65	-46	400

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	69	82	122	101	77	70	56	77	155	280	184	209
Inventory Days	355	307	1,360	1,386	4,410	3,044	2,048	4,884	6,128
Days Payable	286	232	366	264	781	990	642	1,603	1,891
Cash Conversion Cycle	138	157	1,116	1,223	3,706	2,125	1,462	3,359	4,392	280	184	209
Working Capital Days	110	88	174	746	-153	206	126	137	270	405	252	84
ROCE %	8%	7%	3%	0%	-2%	3%	2%	-1%	4%	0%	4%	3%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	38.30%	38.17%	38.17%	38.17%	38.16%	38.07%	37.74%	37.71%	29.97%	29.97%	30.23%	30.23%
	0.92%	1.10%	1.13%	1.20%	1.07%	0.97%	0.57%	0.89%	0.98%	2.08%	2.67%	2.25%
	1.75%	1.74%	1.69%	1.70%	1.32%	1.28%	1.28%	1.33%	9.24%	9.15%	9.11%	9.44%
	0.81%	0.81%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	58.22%	58.19%	58.20%	58.94%	59.46%	59.68%	60.39%	60.07%	59.81%	58.80%	57.98%	58.08%
No. of Shareholders	6,09,921	6,13,873	6,34,419	6,21,231	6,19,613	6,07,670	6,00,841	5,84,029	5,92,282	6,04,623	6,33,593	6,54,501

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	39.34%	39.07%	38.91%	38.61%	38.47%	38.17%	38.07%	29.97%	30.23%
	18.23%	12.65%	9.34%	4.26%	0.96%	1.10%	0.97%	2.08%	2.25%
	6.11%	8.65%	4.20%	1.89%	1.76%	1.74%	1.28%	9.15%	9.44%
	0.00%	0.43%	0.54%	0.64%	0.82%	0.81%	0.00%	0.00%	0.00%
	36.32%	39.19%	47.00%	54.60%	58.00%	58.19%	59.68%	58.80%	58.08%
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	6,54,501

* 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

Shareholding Pattern

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