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Last Updated on: 22 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 532926 | NSE: JYOTHYLAB

Jyothy Labs Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 9:57 pm

Market Cap 14,885 Cr.
Current Price 405
High / Low596/367
Stock P/E39.6
Book Value 51.4
Dividend Yield0.86 %
ROCE27.0 %
ROE21.2 %
Face Value 1.00
PEG Ratio2.94

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Jyothy Labs Ltd

Competitors of Jyothy Labs Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Honasa Consumer Ltd 7,731 Cr. 238547/237102 35.50.00 %17.1 %% 10.0
Ambica Agarbathies Aroma & Industries Ltd 51.2 Cr. 29.943.2/23.234.2 60.60.00 %5.07 %3.65 % 10.0
Ador Multi Products Ltd 15.1 Cr. 32.345.9/30.1 23.20.00 %33.6 %26.7 % 10.0
Kaya Ltd 460 Cr. 348702/267 1060.00 %80.4 %% 10.0
Jyothy Labs Ltd 14,885 Cr. 405596/36739.6 51.40.86 %27.0 %21.2 % 1.00
Industry Average72,450.14 Cr2,175.3453.02103.770.70%36.77%29.68%4.94

All Competitor Stocks of Jyothy Labs Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales525585539547597659613617687732678660742
Expenses462519478489537579528526570597559552608
Operating Profit6367615760808491117135119108133
OPM %12%11%11%10%10%12%14%15%17%18%18%16%18%
Other Income554613121561713111314
Interest3333333311111
Depreciation14141415131312121212131313
Profit before tax5055474557768482121135115107132
Tax %20%19%20%17%16%14%20%28%21%23%21%27%23%
Net Profit4044383748656759961049178102
EPS in Rs1.121.211.051.031.321.761.841.612.622.842.482.132.77

Last Updated: October 9, 2024, 6:18 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 9, 2024, 6:18 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1,1071,3241,5151,5931,6831,6721,8141,7111,9092,1962,4862,7572,812
Expenses1,0281,1701,3501,3701,4281,4151,5321,4601,5941,9482,1702,2772,316
Operating Profit79154164223255257282251315248316480496
OPM %7%12%11%14%15%15%16%15%16%11%13%17%18%
Other Income13861310622716-519475451
Interest685514625648353319121355
Depreciation22243331303131535658505051
Profit before tax182125143179241243182235197299479490
Tax %-1,199%1%3%48%-14%26%19%10%19%19%20%23%
Net Profit168112174204179198163191159240369375
EPS in Rs0.612.253.352.165.735.125.594.645.434.416.5310.0610.22
Dividend Payout %205%67%60%116%52%5%54%65%74%57%46%35%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)406.25%49.38%-38.84%175.68%-12.25%10.61%-17.68%17.18%-16.75%50.94%53.75%
Change in YoY Net Profit Growth (%)0.00%-356.87%-88.23%214.52%-187.93%22.87%-28.29%34.85%-33.93%67.70%2.81%

Jyothy Labs Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:9%
3 Years:13%
TTM:6%
Compounded Profit Growth
10 Years:16%
5 Years:13%
3 Years:19%
TTM:15%
Stock Price CAGR
10 Years:13%
5 Years:18%
3 Years:39%
1 Year:-6%
Return on Equity
10 Years:15%
5 Years:15%
3 Years:16%
Last Year:21%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 9:33 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital16181818181837373737373737
Reserves6227167628831,0711,1261,2901,1921,3921,4071,5121,7721,849
Borrowings630534569451498544281283168171475156
Other Liabilities250386468417266291335325359408466542584
Total Liabilities1,5181,6541,8171,7701,8531,9791,9421,8361,9562,0232,0622,4012,526
Fixed Assets1,0621,0941,0741,0681,0971,0911,1011,1491,1471,1221,1161,1251,129
CWIP741689151424108151316
Investments26119486281131040000192288
Other Assets4474945336087197607236627998939301,0711,093
Total Assets1,5181,6541,8171,7701,8531,9791,9421,8361,9562,0232,0622,4012,526

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +28130166192163242302171402203329458
Cash from Investing Activity +-28-91-26108-17-743072-129-32-48-344
Cash from Financing Activity +-2437-18-302-130-145-318-304-216-167-251-135
Net Cash Flow-2576123-2162313-6057430-21

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-551.00-380.00-405.00-228.00-243.00-287.001.00-32.00147.0077.00269.00429.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days271814222535312618242027
Inventory Days10891878180797691101857774
Days Payable775962706163675369675572
Cash Conversion Cycle575139324551406549414229
Working Capital Days-216-32-114-75-26102018231543
ROCE %6%11%10%15%16%15%17%14%18%13%18%27%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters62.89%62.89%62.89%62.89%62.89%62.89%62.89%62.89%62.89%62.89%62.89%62.89%
FIIs12.23%9.94%10.89%11.47%12.80%13.37%13.77%13.97%14.62%14.65%16.43%15.10%
DIIs16.38%18.30%16.90%18.14%17.47%17.13%16.81%15.36%14.13%13.85%13.28%14.35%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%
Public8.50%8.87%9.32%7.50%6.84%6.63%6.53%7.77%8.37%8.61%7.39%7.66%
No. of Shareholders1,38,4491,48,3291,46,6571,38,7671,33,2071,30,7721,26,6181,27,0031,39,1881,63,8801,50,0931,59,996

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund9,798,3620.87528.922,023,9432024-11-21384.12%
Franklin India Flexi Cap Fund4,112,1121.24221.972,023,9432024-11-21103.17%
Franklin India Smaller Companies Fund3,516,5041.32189.822,023,9432024-11-2173.75%
Axis Small Cap Fund2,803,8730.64151.352,023,9432024-11-2138.54%
Canara Robeco Small Cap Fund2,521,7501.11136.122,023,9432024-11-2124.6%
Canara Robeco Flexi Cap Fund2,211,1830.88119.362,023,9432024-11-219.25%
HSBC Small Cap Fund - Regular Plan2,184,6020.69117.922,023,9432024-11-217.94%
Mirae Asset Great Consumer Fund2,023,9432.58109.252,023,9432024-11-210%
Canara Robeco Equity Hybrid Fund1,795,0000.999.962,023,9432024-11-21-11.31%
Canara Robeco ELSS Tax Saver Fund1,756,1001.0594.792,023,9432024-11-21-13.23%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)10.066.534.415.434.64
Diluted EPS (Rs.)10.066.534.415.434.64
Cash EPS (Rs.)11.427.895.926.715.87
Book Value[Excl.RevalReserv]/Share (Rs.)49.3042.2438.2037.8732.67
Book Value[Incl.RevalReserv]/Share (Rs.)49.3042.2438.2037.8732.67
Revenue From Operations / Share (Rs.)75.0867.7059.8251.9946.60
PBDIT / Share (Rs.)14.539.687.279.077.38
PBIT / Share (Rs.)13.178.315.687.555.94
PBT / Share (Rs.)13.048.155.366.394.94
Net Profit / Share (Rs.)10.066.534.335.194.43
NP After MI And SOA / Share (Rs.)10.066.534.415.434.64
PBDIT Margin (%)19.3514.2912.1517.4415.84
PBIT Margin (%)17.5412.279.5014.5212.74
PBT Margin (%)17.3612.038.9612.2910.60
Net Profit Margin (%)13.399.647.249.989.50
NP After MI And SOA Margin (%)13.409.647.3710.449.95
Return on Networth / Equity (%)20.4315.4711.2213.9613.86
Return on Capital Employeed (%)25.1818.4413.8918.6916.89
Return On Assets (%)15.3811.628.0010.199.27
Total Debt / Equity (X)0.000.000.080.080.18
Asset Turnover Ratio (%)1.241.451.271.161.03
Current Ratio (X)2.371.911.391.320.82
Quick Ratio (X)1.781.160.810.730.41
Inventory Turnover Ratio (X)4.254.323.813.183.26
Dividend Payout Ratio (NP) (%)29.8138.2990.680.00129.34
Dividend Payout Ratio (CP) (%)26.2631.6766.720.0098.68
Earning Retention Ratio (%)70.1961.719.320.00-29.34
Cash Earning Retention Ratio (%)73.7468.3333.280.001.32
Interest Coverage Ratio (X)112.8027.1522.6117.318.24
Interest Coverage Ratio (Post Tax) (X)79.0818.7814.4812.136.06
Enterprise Value (Cr.)15977.966732.285292.854910.523605.74
EV / Net Operating Revenue (X)5.802.712.412.572.11
EV / EBITDA (X)29.9518.9419.8314.7513.30
MarketCap / Net Operating Revenue (X)5.862.822.472.632.01
Retention Ratios (%)70.1861.709.310.00-29.34
Price / BV (X)8.934.533.753.522.80
Price / Net Operating Revenue (X)5.862.822.472.632.01
EarningsYield0.020.030.020.030.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Jyothy Labs Ltd as of November 22, 2024 is: 435.22

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 22, 2024, Jyothy Labs Ltd is Undervalued by 7.46% compared to the current share price 405.00

Intrinsic Value of Jyothy Labs Ltd as of November 22, 2024 is: 493.90

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 22, 2024, Jyothy Labs Ltd is Undervalued by 21.95% compared to the current share price 405.00

Last 5 Year EPS CAGR: 13.48%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -8.67, which is a positive sign.
  2. The company has higher reserves (1,199.54 cr) compared to borrowings (329.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (1.31 cr) and profit (222.77 cr) over the years.
  1. The stock has a low average ROCE of 15.00%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 45.08, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Jyothy Labs Ltd:
    1. Net Profit Margin: 13.39%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 25.18% (Industry Average ROCE: 36.77%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 20.43% (Industry Average ROE: 29.68%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 79.08
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.78
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 39.6 (Industry average Stock P/E: 53.02)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Jyothy Labs Ltd. is a Public Limited Listed company incorporated on 15/01/1992 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24240MH1992PLC128651 and registration number is 128651. Currently Company is involved in the business activities of Wholesale of other households goods [includes wholesale of household equipment and appliances, n.e.c; photographic equipment, games, toys and sports goods (also includes bicycles, cycle rickshaw, tonga & other non-mechanised vehicles); leather goods and travel accessories; cleaning materials etc.]. Company’s Total Operating Revenue is Rs. 2166.27 Cr. and Equity Capital is Rs. 36.72 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Personal CareUjala House, Ramkrishna Mandir Road, Mumbai Maharashtra 400059info@jyothy.com
http://www.jyothylabs.com
Management
NamePosition Held
Mr. M P RamachandranChairman Emeritus
Ms. M R JyothyChairperson & Managing Director
Mr. Ravi RazdanDirector
Mr. T Ananth RaoDirector - Commercial & Operations
Mr. Suresh BalakrishnaIndependent Director
Mr. Narayanan SubramaniamIndependent Director
Ms. Bhumika BatraIndependent Director
Mr. Aditya SapruIndependent Director

FAQ

What is the latest intrinsic value of Jyothy Labs Ltd?

The latest intrinsic value of Jyothy Labs Ltd as on 21 November 2024 is ₹435.22, which is 7.46% higher than the current market price of ₹405.00.

What is the Market Cap of Jyothy Labs Ltd?

The Market Cap of Jyothy Labs Ltd is 14,885 Cr..

What is the current Stock Price of Jyothy Labs Ltd as on 21 November 2024?

The current stock price of Jyothy Labs Ltd as on 21 November 2024 is ₹405.

What is the High / Low of Jyothy Labs Ltd stocks in FY 2024?

In FY 2024, the High / Low of Jyothy Labs Ltd stocks is 596/367.

What is the Stock P/E of Jyothy Labs Ltd?

The Stock P/E of Jyothy Labs Ltd is 39.6.

What is the Book Value of Jyothy Labs Ltd?

The Book Value of Jyothy Labs Ltd is 51.4.

What is the Dividend Yield of Jyothy Labs Ltd?

The Dividend Yield of Jyothy Labs Ltd is 0.86 %.

What is the ROCE of Jyothy Labs Ltd?

The ROCE of Jyothy Labs Ltd is 27.0 %.

What is the ROE of Jyothy Labs Ltd?

The ROE of Jyothy Labs Ltd is 21.2 %.

What is the Face Value of Jyothy Labs Ltd?

The Face Value of Jyothy Labs Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Jyothy Labs Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE