Jhaveri Credits&Cap

₹390.7 18.6 | 5%

WEBSITE BSE:531550 NSE : JHAVERI CRED 18 May, 12:50

Market Cap ₹351 Cr.

Stock P/E 176.2

P/B 4.3

Current Price ₹390.7

Book Value ₹ 90.8

Face Value 10

52W High ₹527.3

Dividend Yield 0%

52W Low ₹ 62.3

Edit Ratio

Jhaveri Credits&Cap Research see more...

Overview Inc. Year: 1993Industry: Finance - Stock Broking

Jhaveri Credits and Capital Limited is an Indian company that was incorporated in 1993 and is listed on the Bombay Stock Exchange since 1996. They are mainly engaged in commodity broking business on various exchanges such as NCDEX, MCX, and NSE. It is a subsidiary of Jhaveri group of companies, which are also active in share broking, depository services, mutual fund and insurance distribution, and agricultural activities. The company’s promoters are Vishnubhai Vitthalbhai Patel and his family members, who hold 74.25% of the share capital3. Their vision is to become a leading player in the commodity broking industry and provide value-added services to its clients. Company’s portfolio of services include online trading, research and advisory, hedging and arbitrage, and portfolio management. The company also offers customized services such as Rann Utsav, a cultural festival in Kutch, Gujarat.

Jhaveri Credits&Cap Share Price

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Price: NSE50 DMA200 DMAVolume

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Peer Comparison

Jhaveri Credits&Cap Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Jun 2023	Sep 2023	Dec 2023
Net Sales	0	0	0	9	0	0	0	0	1
Other Income	0	0	0	0	0	0	0	0	0
Total Income	0	0	1	9	0	0	0	0	1
Total Expenditure	0	0	0	9	0	0	0	0	0
Operating Profit	-0	-0	0	0	-0	0	0	0	1
Interest	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0
Profit Before Tax	-0	-0	0	0	-0	-0	0	0	1
Provision for Tax	0	0	0	0	0	0	-0	0	0
Profit After Tax	-0	-0	0	0	-0	-0	0	0	1
Adjustments	0	0	-0	0	0	0	0	0	0
Profit After Adjustments	-0	-0	0	0	-0	-0	0	0	1
Adjusted Earnings Per Share	-0.2	-0.1	0.6	0.2	-0.2	-0	0	0.5	1.6

Jhaveri Credits&Cap Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	4	3	2	2	1	1	1	1	3	9	12	1
Other Income	1	0	0	0	0	0	0	0	0	1	0	0
Total Income	5	3	2	2	2	1	1	1	4	10	12	1
Total Expenditure	4	3	2	2	1	1	2	1	4	9	11	0
Operating Profit	1	1	0	0	0	0	-0	-0	-0	1	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0
Exceptional Income / Expenses	0	0	0	0	-0	-0	-0	0	0	0	0	0
Profit Before Tax	0	0	0	0	0	0	-0	-0	-0	0	1	1
Provision for Tax	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Tax	0	0	0	0	-0	0	-0	-0	-0	0	1	1
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	0	0	0	0	-0	0	-0	-0	-0	0	1	1
Adjusted Earnings Per Share	0.3	0.4	0	0	-0	0.2	-0.7	-0.4	-0.6	0.4	1.2	2.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	33%	129%	64%	12%
Operating Profit CAGR	0%	0%	0%	0%
PAT CAGR	0%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	346%	424%	162%	54%
ROE Average	10%	3%	-0%	1%
ROCE Average	11%	6%	2%	3%

Jhaveri Credits&Cap Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	8	8	8	8	8	8	8	8	7	8	8
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	3	0
Other Non-Current Liabilities	0	0	0	2	1	1	1	0	0	0	0
Total Current Liabilities	9	5	5	3	3	1	1	1	2	1	1
Total Liabilities	17	14	13	13	12	11	10	9	9	12	9
Fixed Assets	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	2	2	2	1	1	1	1	2	2	0	0
Total Current Assets	14	11	11	12	11	10	9	7	7	12	9
Total Assets	17	14	13	13	12	11	10	9	9	12	9

Jhaveri Credits&Cap Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	3	5	3	7	3	5	3	3	2	0	0
Cash Flow from Operating Activities	3	-1	4	-6	2	-1	-0	-1	-1	5	2
Cash Flow from Investing Activities	1	0	0	1	0	0	0	0	-0	-6	7
Cash Flow from Financing Activities	-2	-0	-0	-0	-0	-0	-0	0	-0	1	-9
Net Cash Inflow / Outflow	2	-2	4	-5	2	-2	0	-1	-2	0	-0
Closing Cash & Cash Equivalent	5	3	7	3	5	3	3	2	0	0	0

Jhaveri Credits&Cap Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.32	0.39	0.05	0.01	-0.03	0.24	-0.73	-0.4	-0.61	0.42	1.22
CEPS(Rs)	0.41	0.45	0.11	0.06	0	0.27	-0.71	-0.38	-0.61	0.42	1.22
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	12.26	12.65	12.7	12.71	12.68	12.92	12.19	11.8	11.19	11.61	12.82
Core EBITDA Margin(%)	-2.86	2.8	-9.69	-4.86	-8.08	4.82	-47.66	-49	-3.9	0.07	7.59
EBIT Margin(%)	16.23	17.43	8.06	5.56	10.96	21.54	-35.34	-45.37	-0.13	5.92	9.15
Pre Tax Margin(%)	6.83	13.73	2.81	0.38	5.67	17.42	-38.47	-45.6	-0.14	3.68	7.05
PAT Margin (%)	5.1	9.03	1.99	0.33	-1.6	13.79	-39.1	-47.37	-11.25	3	6.76
Cash Profit Margin (%)	6.57	10.44	4.46	2.4	0.17	15.05	-38.42	-45.8	-11.2	3.02	6.77
ROA(%)	1.19	1.62	0.23	0.04	-0.17	1.36	-4.43	-2.63	-4.35	2.6	7.46
ROE(%)	2.6	3.11	0.38	0.07	-0.26	1.9	-5.8	-3.29	-5.29	3.69	9.95
ROCE(%)	6.86	5.51	1.45	1.12	1.68	2.89	-5.24	-3.16	-0.06	5.99	11.21
Receivable days	190.95	640.41	1004.83	412.47	473.21	480.12	453.87	1004.7	169.37	59.42	0
Inventory Days	709.7	427.19	157.84	482.36	1085.42	1341.12	1270.23	2550.88	409.22	0	0
Payable days	1439.99	3689.45	0	0	0	0	666.35	0	156.24	57.7	33.54
PER(x)	21.48	13.94	128.16	678.65	0	0	0	0	0	11.11	49.77
Price/Book(x)	0.55	0.43	0.49	0.48	0.56	0	0.3	0.2	0.23	0.4	4.72
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.09	0.23	-1.86	0.98	0.32	3.26	-0.45	-0.33	0.43	0.65	3.35
EV/Core EBITDA(x)	0.5	1.21	-17.65	12.79	2.48	14.11	1.3	0.76	-517.83	10.88	36.52
Net Sales Growth(%)	5.23	-30.57	-43.53	11.46	-24.15	-13.96	5.55	-55.17	548.27	159.14	28.31
EBIT Growth(%)	28.21	-25.46	-73.89	-23.08	49.56	69.05	-273.17	42.45	98.16	0	98.38
PAT Growth(%)	-10.65	22.88	-87.52	-81.54	-466.12	843.85	-399.31	45.69	-53.92	169.09	189.25
EPS Growth(%)	-10.66	22.91	-87.53	-81.57	-467.42	843.39	-399.31	45.7	-53.94	169.09	189.27
Debt/Equity(x)	0.12	0.06	0.06	0.06	0.05	0	0	0	0	0.42	0
Current Ratio(x)	1.57	2.07	2.27	3.83	4.19	8.23	8.75	4.76	3.9	9.48	11.23
Quick Ratio(x)	0.94	1.95	2.13	2.52	2.69	4.43	4.9	2.31	1.45	9.48	11.23
Interest Cover(x)	1.73	4.71	1.54	1.07	2.07	5.22	-11.29	-196	-9	2.65	4.35
Total Debt/Mcap(x)	0.21	0.14	0.12	0.12	0.1	0	0	0	0	1.05	0

Jhaveri Credits&Cap Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	61.76	61.76	61.76	61.76	62.25	62.25	62.25	74.25	74.25	53
FII	0	0	0	0	0	0	0	0	0	3.51
DII	0	0	0	0	0	0	0	0	0	0.78
Public	38.24	38.24	38.24	38.24	37.75	37.75	37.75	25.75	25.75	42.71
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.48	0.48	0.48
FII	0	0	0	0	0	0	0	0	0	0.03
DII	0	0	0	0	0	0	0	0	0	0.01
Public	0.25	0.25	0.25	0.25	0.24	0.24	0.24	0.17	0.17	0.38
Others	0	0	0	0	0	0	0	0	0	0
Total	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.9

Pros

Debtor days have improved from 57.7 to 33.54days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 3% over the last 3 years.
Stock is trading at 4.3 times its book value.

* 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.