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Last Updated on: 06 October, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Jay Bharat Maruti Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: October 5, 2024, 12:31 am

Market Cap 1,078 Cr.
Current Price 99.6
High / Low144/90.0
Stock P/E34.0
Book Value 49.6
Dividend Yield0.70 %
ROCE9.41 %
ROE5.97 %
Face Value 2.00
PEG Ratio8.24

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

View Share Price Target for Jay Bharat Maruti Ltd

Competitors of Jay Bharat Maruti Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
G S Auto International Ltd 64.2 Cr. 44.254.8/18.866.8 15.00.00 %10.1 %3.21 % 5.00
Duncan Engineering Ltd 230 Cr. 623742/37140.8 1430.56 %18.4 %13.9 % 10.0
Bharat Seats Ltd 596 Cr. 190240/11822.1 53.10.84 %15.3 %15.9 % 2.00
Automobile Corporation of Goa Ltd 1,555 Cr. 2,5543,449/1,35133.7 3600.78 %18.7 %18.6 % 10.0
Akar Auto Industries Ltd 118 Cr. 109170/83.820.0 41.20.55 %17.3 %13.1 % 5.00
Industry Average3,814.67 Cr669.5450.98133.150.60%16.36%15.47%5.63

All Competitor Stocks of Jay Bharat Maruti Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales496.03540.98411.55467.55505.72694.57554.24580.64535.97673.36533.17613.33547.51
Expenses445.59482.80380.81435.65466.11646.88515.14537.44496.32622.01495.73568.07506.95
Operating Profit50.4458.1830.7431.9039.6147.6939.1043.2039.6551.3537.4445.2640.56
OPM %10.17%10.75%7.47%6.82%7.83%6.87%7.05%7.44%7.40%7.63%7.02%7.38%7.41%
Other Income2.680.580.100.160.040.130.150.620.100.410.510.320.92
Interest8.447.798.098.498.118.058.219.539.289.829.4010.4810.53
Depreciation17.0219.6418.3817.9719.4819.6519.6120.2819.8620.3121.0821.4620.92
Profit before tax27.6631.334.375.6012.0620.1211.4314.0110.6121.637.4713.6410.03
Tax %36.15%36.32%32.27%38.04%40.05%31.31%32.46%36.40%37.42%34.72%32.53%36.29%35.09%
Net Profit17.6619.962.963.487.2313.817.728.916.6314.115.058.696.50
EPS in Rs1.631.840.270.320.671.280.710.820.611.300.470.800.60

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,0681,1801,2121,2941,3021,5271,7301,9941,6581,4992,0782,3442,367
Expenses9831,0871,1051,1891,1851,3941,5751,8191,5171,3631,9282,1712,193
Operating Profit8694106105117133156175141136150173175
OPM %8%8%9%8%9%9%9%9%9%9%7%7%7%
Other Income33-127414324012
Interest22202221221820343833333740
Depreciation38464638394149616366758084
Profit before tax29322753607590824242425853
Tax %32%33%40%25%33%28%35%36%34%37%35%35%
Net Profit20221740405459522826273734
EPS in Rs1.811.991.533.703.684.975.444.822.592.412.543.453.17
Dividend Payout %17%15%16%11%11%10%9%10%10%10%20%20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)10.00%-22.73%135.29%0.00%35.00%9.26%-11.86%-46.15%-7.14%3.85%37.04%
Change in YoY Net Profit Growth (%)0.00%-32.73%158.02%-135.29%35.00%-25.74%-21.12%-34.29%39.01%10.99%33.19%

Jay Bharat Maruti Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:3%
3 Years:15%
TTM:-1%
Compounded Profit Growth
10 Years:2%
5 Years:-10%
3 Years:6%
TTM:-9%
Stock Price CAGR
10 Years:16%
5 Years:25%
3 Years:7%
1 Year:-9%
Return on Equity
10 Years:10%
5 Years:6%
3 Years:7%
Last Year:6%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital111111111111111111222222
Reserves148161196242294349393412439452485515
Borrowings215212159134255298404445369380336440
Other Liabilities203200257242267377398339414473456577
Total Liabilities5765846236298271,0351,2061,2071,2331,3261,2981,553
Fixed Assets353374399398452632832817860856881906
CWIP222318649351143836223162
Investments22281215172124262632
Other Assets199185221214300295305226266382368453
Total Assets5765846236298271,0351,2061,2071,2331,3261,2981,553

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 66107889558209128154163106154188
Cash from Investing Activity -78-76-21-53-160-226-195-144-50-76-65-140
Cash from Financing Activity 13-32-67-421031766-10-113-29-87-51
Net Cash Flow1-20100-11113-4

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow86.00-121.00-106.00-54.00-17.00-122.00-142.00-229.00-304.00-233.00-230.00-163.00

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 Days1891210326141115161320
Inventory Days333845493556403549474055
Days Payable544957525650494766605168
Cash Conversion Cycle-4-2-0711125-1-2327
Working Capital Days-16-27-20-108-16-15-20-21-91-4
ROCE %14%16%18%21%20%18%16%10%9%9%11%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters59.35%59.35%59.35%59.35%59.35%59.35%59.35%59.35%59.35%59.35%59.35%59.35%
FIIs3.59%3.49%3.50%3.43%3.48%3.42%3.40%3.55%3.71%3.63%2.61%0.83%
DIIs0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Government0.64%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public36.40%37.14%37.13%37.19%37.15%37.19%37.24%37.07%36.92%36.99%38.02%39.80%
No. of Shareholders25,22725,05324,42124,16622,79321,96521,46221,17821,62223,52833,02535,828

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.005.005.005.005.00
Basic EPS (Rs.)2.988.756.5012.1213.04
Diluted EPS (Rs.)2.988.756.5012.1213.04
Cash EPS (Rs.)10.6627.0623.7342.4541.79
Book Value[Excl.RevalReserv]/Share (Rs.)49.76117.34109.53207.82195.46
Book Value[Incl.RevalReserv]/Share (Rs.)49.76117.34109.53207.82195.46
Revenue From Operations / Share (Rs.)211.74541.39480.36692.41765.69
PBDIT / Share (Rs.)15.7340.3234.7264.8765.93
PBIT / Share (Rs.)7.9421.8317.2934.4137.05
PBT / Share (Rs.)4.2813.329.7319.1919.46
Net Profit / Share (Rs.)2.878.566.2911.9912.92
NP After MI And SOA / Share (Rs.)2.988.756.5012.1213.04
PBDIT Margin (%)7.427.447.229.368.61
PBIT Margin (%)3.744.033.594.964.83
PBT Margin (%)2.022.462.022.772.54
Net Profit Margin (%)1.351.581.311.731.68
NP After MI And SOA Margin (%)1.401.611.351.741.70
Return on Networth / Equity (%)5.977.465.935.836.67
Return on Capital Employeed (%)9.8412.379.469.419.78
Return On Assets (%)2.072.912.122.122.33
Long Term Debt / Equity (X)0.210.270.420.520.65
Total Debt / Equity (X)0.600.650.780.620.92
Asset Turnover Ratio (%)1.611.791.621.231.37
Current Ratio (X)0.630.670.590.500.48
Quick Ratio (X)0.240.290.190.150.16
Inventory Turnover Ratio (X)7.608.939.068.338.58
Dividend Payout Ratio (NP) (%)0.0014.2719.2310.3119.17
Dividend Payout Ratio (CP) (%)0.004.585.222.935.96
Earning Retention Ratio (%)0.0085.7380.7789.6980.83
Cash Earning Retention Ratio (%)0.0095.4294.7897.0794.04
Interest Coverage Ratio (X)4.304.744.594.263.75
Interest Coverage Ratio (Post Tax) (X)1.782.011.831.791.73
Enterprise Value (Cr.)1605.95892.72985.27770.82606.38
EV / Net Operating Revenue (X)0.700.380.470.510.36
EV / EBITDA (X)9.435.116.555.494.25
MarketCap / Net Operating Revenue (X)0.550.240.290.320.13
Retention Ratios (%)0.0085.7280.7689.6880.82
Price / BV (X)2.381.121.301.100.51
Price / Net Operating Revenue (X)0.550.240.290.320.13
EarningsYield0.020.060.040.050.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Jay Bharat Maruti Ltd as of October 6, 2024 is: ₹101.38

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 October 6, 2024, Jay Bharat Maruti Ltd is Undervalued by 1.79% compared to the current share price ₹99.60

Intrinsic Value of Jay Bharat Maruti Ltd as of October 6, 2024 is: ₹105.56

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 October 6, 2024, Jay Bharat Maruti Ltd is Undervalued by 5.98% compared to the current share price ₹99.60

Last 5 Year EPS CAGR: 4.12%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -12.42, which is a positive sign.
  2. The company has higher reserves (340.50 cr) compared to borrowings (303.92 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (1.23 cr) and profit (52.69 cr) over the years.
  1. The stock has a low average ROCE of 14.25%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 3.17, 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 Jay Bharat Maruti Ltd:
    1. Net Profit Margin: 1.35%
      • 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: 9.84% (Industry Average ROCE: 16.36%)
      • 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%: 5.97% (Industry Average ROE: 14.65%)
      • 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): 1.78
      • 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: 0.24
      • 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: 34 (Industry average Stock P/E: 45.61)
      • 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: 0.6
      • 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

Jay Bharat Maruti Ltd. is a Public Limited Listed company incorporated on 19/03/1987 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L29130DL1987PLC027342 and registration number is 027342. Currently Company is involved in the business activities of Manufacture of diverse parts and accessories for motor vehecles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc.. Company’s Total Operating Revenue is Rs. 2079.94 Cr. and Equity Capital is Rs. 21.65 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto Ancl - Others601, Hemkunt Chambers, 89, Nehru Place, New Delhi Delhi 110019jbml.investor@jbmgroup.com
http://www.jbmgroup.com
Management
NamePosition Held
Mr. S K AryaChairman
Mr. Anand SwaroopExecutive Director & CFO
Mr. Nishant AryaNon Executive Director
Mrs. Pravin TripathiIndependent Director
Mr. Madhusudan PrasadIndependent Director
Mr. Dhanendra KumarIndependent Director
Mr. Shekar ViswanathanIndependent Director
Mr. Rajiv GandhiNominee Director

FAQ

What is the latest fair value of Jay Bharat Maruti Ltd?

The latest fair value of Jay Bharat Maruti Ltd is ₹101.38.

What is the Market Cap of Jay Bharat Maruti Ltd?

The Market Cap of Jay Bharat Maruti Ltd is 1,078 Cr..

What is the current Stock Price of Jay Bharat Maruti Ltd as on 06 October 2024?

The current stock price of Jay Bharat Maruti Ltd as on 06 October 2024 is ₹99.6.

What is the High / Low of Jay Bharat Maruti Ltd stocks in FY 2024?

In FY 2024, the High / Low of Jay Bharat Maruti Ltd stocks is 144/90.0.

What is the Stock P/E of Jay Bharat Maruti Ltd?

The Stock P/E of Jay Bharat Maruti Ltd is 34.0.

What is the Book Value of Jay Bharat Maruti Ltd?

The Book Value of Jay Bharat Maruti Ltd is 49.6.

What is the Dividend Yield of Jay Bharat Maruti Ltd?

The Dividend Yield of Jay Bharat Maruti Ltd is 0.70 %.

What is the ROCE of Jay Bharat Maruti Ltd?

The ROCE of Jay Bharat Maruti Ltd is 9.41 %.

What is the ROE of Jay Bharat Maruti Ltd?

The ROE of Jay Bharat Maruti Ltd is 5.97 %.

What is the Face Value of Jay Bharat Maruti Ltd?

The Face Value of Jay Bharat Maruti Ltd is 2.00.

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 Jay Bharat Maruti 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