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Last Updated on: 11 October, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Jyoti Structures Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: October 11, 2024, 12:03 am

Market Cap 2,943 Cr.
Current Price 33.7
High / Low34.9/10.7
Stock P/E93.5
Book Value 0.30
Dividend Yield0.00 %
ROCE1.15 %
ROE%
Face Value 2.00
PEG Ratio0.49

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

View Share Price Target for Jyoti Structures Ltd

Competitors of Jyoti Structures Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Aartech Solonics Ltd 208 Cr. 65.788.1/42.0122 9.290.38 %4.81 %1.64 % 5.00
Voltamp Transformers Ltd 13,769 Cr. 13,59914,800/4,26441.0 1,3380.66 %31.6 %24.3 % 10.0
Transformers & Rectifiers India Ltd (TRIL) 11,186 Cr. 745846/110145 38.90.03 %14.8 %9.33 % 1.00
Power Grid Corporation of India Ltd 3,10,966 Cr. 334366/19619.8 93.73.36 %13.2 %19.0 % 10.0
KEC International Ltd 27,085 Cr. 1,0171,068/55069.1 1590.39 %16.0 %8.80 % 2.00
Industry Average61,026.17 Cr2,632.4081.73273.200.80%13.59%12.61%5.00

All Competitor Stocks of Jyoti Structures Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales0.000.000.002.220.002.1715.6513.8943.86155.83185.1781.3655.80
Expenses8.32231.32-5.6815.0911.5819.6415.1916.9447.95149.28181.2371.1760.06
Operating Profit-8.32-231.325.68-12.87-11.58-17.470.46-3.05-4.096.553.9410.19-4.26
OPM %-579.73%-805.07%2.94%-21.96%-9.33%4.20%2.13%12.52%-7.63%
Other Income0.000.150.010.010.040.990.570.330.150.800.492.897.17
Interest370.00397.64341.55355.200.000.000.000.060.090.230.050.210.07
Depreciation2.332.242.092.481.661.061.141.251.451.571.931.681.76
Profit before tax-380.65-631.05-337.95-370.54-13.20-17.54-0.11-4.03-5.485.552.4511.191.08
Tax %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit-380.65-631.04-337.94-370.54-13.19-17.54-0.11-4.03-5.485.552.4611.201.08
EPS in Rs-29.90-49.57-26.55-29.10-0.18-0.24-0.00-0.05-0.070.080.030.140.01

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,4002,7663,0133,6363,1112,9473241821604229478
Expenses2,0892,4082,6893,3253,0242,9263,47984182825441229462
Operating Profit3103593243118721-3,154-658-812-254-36-016
OPM %13%13%11%9%3%1%-973%-361%-4,948%-826%-0%3%
Other Income58528555536001211
Interest1382012383194856711,0211,1061,5011,495001
Depreciation21253640535429271610757
Profit before tax15614155-20-395-649-4,201-1,785-2,329-1,759-42-420
Tax %36%31%32%52%-0%-9%0%0%0%0%0%0%
Net Profit1009838-9-396-704-4,201-1,785-2,329-1,759-42-420
EPS in Rs12.1511.734.59-1.14-36.15-64.31-383.52-162.91-212.63-160.57-0.67-0.060.33
Dividend Payout %12%9%17%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2011-20122012-20132013-20142014-20152015-20162018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-2.00%-61.22%-123.68%-4300.00%-77.78%57.51%-30.48%24.47%97.61%90.48%
Change in YoY Net Profit Growth (%)0.00%-59.22%-62.46%-4176.32%4222.22%135.29%-87.99%54.95%73.14%-7.14%

Jyoti Structures Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2011-2012 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:-19%
5 Years:20%
3 Years:%
TTM:-11%
Compounded Profit Growth
10 Years:17%
5 Years:15%
3 Years:26%
TTM:2199%
Stock Price CAGR
10 Years:-2%
5 Years:71%
3 Years:26%
1 Year:125%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital161616222222222222127127146
Reserves635667665365-298-5,584-7,348-9,701-11,38425-102-172
Borrowings9441,2021,4982,9425,1905,7186,3837,0077,4121,6911,8031,916
Other Liabilities1,1341,1192,3472,2511,4672,6343,3874,3515,367350457459
Total Liabilities2,7303,0064,5275,5796,3812,7902,4441,6781,4172,1932,2862,350
Fixed Assets26145746943642590624333273233
CWIP178922280000001
Investments555550001111
Other Assets2,2862,5354,0515,1365,9222,7002,3821,6351,3842,1662,2532,315
Total Assets2,7303,0064,5275,5796,3812,7902,4441,6781,4172,1932,2862,350

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity -5651-88-1,130-1,7641,190-9-4-2-100-36-19
Cash from Investing Activity -238-80-40-81-84-639000-0-11-7
Cash from Financing Activity 27881771,2521,772-918-010170-734
Net Cash Flow-16-214941-76-368-9-3-270-538

Free Cash Flow

MonthMar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow310.00-585.00323.00310.0085.0016.00-8.00-664.00-819.00-261.00-37.00-1.00

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 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days2112242853995422,7404,28430,382158,0093,1831,642
Inventory Days83598681621613032,6292,7451,284207127
Days Payable153135285240931,4652,86825,86038,7144,306429232
Cash Conversion Cycle140148862395111,4361,7197,150154,9872,9611,537
Working Capital Days139145154257377-2,423-6,867-116,682162,2123,0551,586
ROCE %26%17%15%3%0%-0%1%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
FIIs0.00%0.00%0.00%0.00%0.12%0.12%0.40%0.12%0.04%0.12%0.32%0.62%
DIIs0.16%10.43%10.43%10.43%13.22%13.22%15.58%12.72%7.15%3.90%3.92%2.83%
Public99.84%89.57%89.57%89.57%86.65%86.65%84.02%87.16%92.81%95.99%95.76%96.55%
No. of Shareholders40,29639,75140,57340,15140,68540,92744,48049,13454,91060,71482,8991,02,932

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
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)0.41-0.06-1.35-160.57-212.63
Diluted EPS (Rs.)0.39-0.06-1.24-160.57-212.63
Cash EPS (Rs.)0.490.02-0.55-159.67-211.17
Book Value[Excl.RevalReserv]/Share (Rs.)-0.34-0.041.95-1040.11-883.94
Book Value[Incl.RevalReserv]/Share (Rs.)-0.34-0.041.95-1040.11-883.94
Revenue From Operations / Share (Rs.)6.183.610.060.001.50
PBDIT / Share (Rs.)0.380.02-0.55-23.25-76.67
PBIT / Share (Rs.)0.28-0.05-0.66-24.16-78.16
PBT / Share (Rs.)0.26-0.06-0.66-160.58-212.67
Net Profit / Share (Rs.)0.39-0.06-0.66-160.58-212.67
NP After MI And SOA / Share (Rs.)0.39-0.06-0.67-160.57-212.63
PBDIT Margin (%)6.200.75-801.770.00-5116.44
PBIT Margin (%)4.55-1.61-967.750.00-5216.07
PBT Margin (%)4.32-1.77-967.750.00-14192.64
Net Profit Margin (%)6.39-1.77-967.750.00-14192.64
NP After MI And SOA Margin (%)6.39-1.77-969.020.00-14190.15
Return on Networth / Equity (%)-112.880.00-34.330.000.00
Return on Capital Employeed (%)1.03-0.19-2.092.328.88
Return On Assets (%)1.23-0.17-1.93-124.74-138.75
Long Term Debt / Equity (X)-72.66-653.4413.320.000.00
Total Debt / Equity (X)-74.97-681.4713.65-0.42-0.46
Asset Turnover Ratio (%)0.190.100.000.000.00
Current Ratio (X)6.416.0513.130.100.14
Quick Ratio (X)6.215.8512.980.100.13
Inventory Turnover Ratio (X)2.773.140.000.120.13
Interest Coverage Ratio (X)27.744.550.00-0.17-0.56
Interest Coverage Ratio (Post Tax) (X)29.60-9.770.00-0.17-0.58
Enterprise Value (Cr.)3404.592106.763007.914834.034525.35
EV / Net Operating Revenue (X)7.549.19685.380.00275.74
EV / EBITDA (X)121.641225.36-85.48-18.99-5.39
MarketCap / Net Operating Revenue (X)3.391.46319.530.001.63
Price / BV (X)-59.81-127.1611.320.000.00
Price / Net Operating Revenue (X)3.391.46320.290.001.63
EarningsYield0.01-0.01-0.03-34.46-87.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Jyoti Structures Ltd as of October 11, 2024 is: ₹4.29

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 11, 2024, Jyoti Structures Ltd is Overvalued by 87.27% compared to the current share price ₹33.70

Default values used*: Default value of 15% for ROE is used

Intrinsic Value of Jyoti Structures Ltd as of October 11, 2024 is: ₹12.55

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 11, 2024, Jyoti Structures Ltd is Overvalued by 62.76% compared to the current share price ₹33.70

Default values used*: Default value of 15% for ROE is used

Last 5 Year EPS CAGR: 192.46%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
    1. The stock has a low average ROCE of 5.17%, which may not be favorable.
    2. The stock has a high average Working Capital Days of 92.83, which may not be favorable.
    3. The stock has a high average Cash Conversion Cycle of 107.50, which may not be favorable.
    4. The company has higher borrowings (3,642.17) compared to reserves (-2,686.00), which may suggest financial risk.
    5. The company has not shown consistent growth in sales (96.00) and profit (-57.38).

    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 Jyoti Structures Ltd:
      1. Net Profit Margin: 6.39%
        • 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: 1.03% (Industry Average ROCE: 13.59%)
        • 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%: -112.88% (Industry Average ROE: 10.51%)
        • 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): 29.6
        • 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: 6.21
        • 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: 93.5 (Industry average Stock P/E: 81.73)
        • 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: -74.97
        • 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

    Jyoti Structures Ltd. is a Public Limited Listed company incorporated on 27/05/1974 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L45200MH1974PLC017494 and registration number is 017494. Currently Company is involved in the business activities of Electric power generation, transmission and distribution. Company’s Total Operating Revenue is Rs. 4.39 Cr. and Equity Capital is Rs. 126.91 Cr. for the Year ended 31/03/2022.
    INDUSTRYADDRESSCONTACT
    Power - Transmission/EquipmentValecha Chambers, 6th Floor, New Link Road, Mumbai Maharashtra 400053investor@jsl.co.in
    http://www.jyotistructures.in
    Management
    NamePosition Held
    Mr. Abdul Hameed KhanWholeTime Director & CEO
    Dr. Govind Prasad SahaInd. Non-Executive Director
    Mrs. Monica Akhil ChaturvediInd. Non-Executive Director
    Dr. Rajendra Prasad SinghInd. Non-Executive Director
    Mr. Abhinav R AngirishNon Executive Director
    Mr. Rajeev B BatraNon Executive Director

    FAQ

    What is the latest fair value of Jyoti Structures Ltd?

    The latest fair value of Jyoti Structures Ltd is ₹4.29.

    What is the Market Cap of Jyoti Structures Ltd?

    The Market Cap of Jyoti Structures Ltd is 2,943 Cr..

    What is the current Stock Price of Jyoti Structures Ltd as on 11 October 2024?

    The current stock price of Jyoti Structures Ltd as on 11 October 2024 is ₹33.7.

    What is the High / Low of Jyoti Structures Ltd stocks in FY 2024?

    In FY 2024, the High / Low of Jyoti Structures Ltd stocks is 34.9/10.7.

    What is the Stock P/E of Jyoti Structures Ltd?

    The Stock P/E of Jyoti Structures Ltd is 93.5.

    What is the Book Value of Jyoti Structures Ltd?

    The Book Value of Jyoti Structures Ltd is 0.30.

    What is the Dividend Yield of Jyoti Structures Ltd?

    The Dividend Yield of Jyoti Structures Ltd is 0.00 %.

    What is the ROCE of Jyoti Structures Ltd?

    The ROCE of Jyoti Structures Ltd is 1.15 %.

    What is the ROE of Jyoti Structures Ltd?

    The ROE of Jyoti Structures Ltd is %.

    What is the Face Value of Jyoti Structures Ltd?

    The Face Value of Jyoti Structures 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 Jyoti Structures 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