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JP Associate Overview

Jaiprakash Associates Ltd is a diversified infrastructure organisation. The Company's main business activities comprises engineering, construction and real estate improvement, and manufacture of cement. Its segments include Construction, which incorporates civil engineering construction/engineering, procurement and construction (EPC) contracts/expressway; Cement, which includes manufacture and sale of cement and clinker; Hotel/Hospitality, which incorporates hotels, golf course, lodges and spa; Sports Events, which incorporates sports activitie...Read More

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JP Associate Key Financials

Market Cap ₹592 Cr.

Stock P/E -0.2

P/B -0.1

Current Price ₹2.4

Book Value ₹ -25

Face Value 2

52W High ₹4.3

Dividend Yield 0%

52W Low ₹ 2.3

JP Associate Share Price

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Volume
Price

JP Associate Quarterly Price

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JP Associate Peer Comparison

JP Associate Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1896 1656 1972 1821 1360 1478 1137 672 685 726
Other Income 47 57 -9 112 83 41 112 43 58 39
Total Income 1943 1713 1963 1933 1443 1519 1250 715 742 765
Total Expenditure 1816 1616 1885 1749 1394 1481 1331 691 725 807
Operating Profit 127 97 78 184 49 38 -81 24 17 -42
Interest 255 271 266 265 288 306 301 204 234 246
Depreciation 105 105 95 90 78 302 106 94 94 85
Exceptional Income / Expenses 10 -238 -201 -930 -25 -218 -305 460 0 -318
Profit Before Tax -222 -517 -484 -1101 -342 -789 -793 187 -311 -691
Provision for Tax 3 17 11 6 -3 7 -58 3 -1 3
Profit After Tax -225 -534 -495 -1107 -340 -796 -735 184 -310 -694
Adjustments -20 60 56 83 47 31 74 56 242 7
Profit After Adjustments -246 -474 -439 -1023 -293 -764 -661 240 -68 -687
Adjusted Earnings Per Share -1 -1.9 -1.8 -4.2 -1.2 -3.1 -2.7 1 -0.3 -2.8

JP Associate Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 14107 14346 10683 7317 9210 7035 6406 5752 7263 7135 5796 3220
Other Income 184 106 153 146 67 101 205 427 259 197 348 252
Total Income 14290 14452 10836 7463 9277 7137 6611 6179 7522 7332 6143 3472
Total Expenditure 9090 9120 8455 6988 8347 6610 5703 5842 6682 6954 5939 3554
Operating Profit 5200 5332 2381 474 931 527 908 337 840 378 205 -82
Interest 6121 6585 6086 2189 988 1159 1026 998 1056 1010 1176 985
Depreciation 1694 1820 1888 782 593 603 568 395 381 388 577 379
Exceptional Income / Expenses 514 -229 -3090 757 -328 3905 27 0 -201 -428 -1477 -163
Profit Before Tax -2102 -3302 -8683 -2409 -1084 2250 -659 -1056 -785 -1204 -2831 -1608
Provision for Tax -321 -1034 -1171 -1 163 384 9 11 39 38 -48 -53
Profit After Tax -1781 -2268 -7512 -2409 -1247 1866 -667 -1066 -824 -1242 -2783 -1555
Adjustments 46 -683 -1194 471 -798 -770 6 -412 -517 -98 42 379
Profit After Adjustments -1735 -2951 -8706 -1937 -2045 1096 -662 -1478 -1342 -1340 -2741 -1176
Adjusted Earnings Per Share -7.1 -12.1 -35.8 -8 -8.4 4.5 -2.7 -6 -5.5 -5.5 -11.2 -4.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -19% 0% -4% -9%
Operating Profit CAGR -46% -15% -17% -28%
PAT CAGR 0% 0% NAN% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -25% -31% -19% -10%
ROE Average 0% 0% -33% -25%
ROCE Average -13% -4% -2% 0%

JP Associate Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 14955 12517 3810 4679 1093 2182 1562 85 -1251 -2594 -5320
Minority's Interest 4487 4989 1465 973 333 -9 -21 -41 -52 -51 -133
Borrowings 56676 52861 26578 25706 24763 16519 15625 15141 11953 10679 13422
Other Non-Current Liabilities 2194 3001 531 1986 3819 4631 5926 7038 7991 8841 9624
Total Current Liabilities 31189 23038 26361 14867 25350 11966 12270 14168 14637 14771 16941
Total Liabilities 109501 100187 61087 49211 56359 36289 36362 37391 37768 36141 34602
Fixed Assets 53775 42785 18589 19714 19845 9589 8988 8618 4958 4607 6945
Other Non-Current Assets 29747 18823 9906 7592 6655 6521 5898 4859 4888 4224 3999
Total Current Assets 25978 23327 18303 20905 28859 19179 20476 22914 23345 22854 22494
Total Assets 109501 100187 61087 49211 56359 36289 36362 37391 37768 36141 34602

JP Associate Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1696 1241 496 308 355 191 181 511 310 330 674
Cash Flow from Operating Activities 3696 6676 5793 -855 770 827 1076 21 761 1170 558
Cash Flow from Investing Activities -3608 7000 -1292 15122 -3 -196 -3 60 -116 134 -219
Cash Flow from Financing Activities -518 -14421 -4554 -14220 -931 -570 -743 -281 -625 -960 -412
Net Cash Inflow / Outflow -430 -745 -53 47 -165 60 330 -200 20 344 -74
Closing Cash & Cash Equivalent 1266 496 308 355 190 181 511 310 330 674 600

JP Associate Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -7.13 -12.13 -35.79 -7.96 -8.41 4.5 -2.71 -6.02 -5.47 -5.46 -11.17
CEPS(Rs) -0.36 -1.84 -23.12 -6.69 -2.69 10.15 -0.41 -2.73 -1.8 -3.48 -8.99
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 60.68 51.46 15.66 19.23 4.49 8.97 6.39 0.34 -5.1 -10.57 -21.67
Core EBITDA Margin(%) 33.37 34.75 19.92 4.42 9.38 6 10.92 -1.56 7.99 2.53 -2.47
EBIT Margin(%) 26.73 21.83 -23.22 -2.97 -1.05 48.07 5.71 -1.01 3.72 -2.72 -28.56
Pre Tax Margin(%) -13.98 -21.96 -77.64 -32.41 -11.77 31.73 -10.23 -18.33 -10.79 -16.85 -48.85
PAT Margin (%) -11.84 -15.08 -67.17 -32.4 -13.54 26.31 -10.37 -18.52 -11.32 -17.39 -48.01
Cash Profit Margin (%) -0.58 -2.98 -50.28 -21.88 -7.11 34.81 -1.54 -11.65 -6.09 -11.95 -38.07
ROA(%) -1.68 -2.16 -9.32 -4.37 -2.36 4.03 -1.84 -2.89 -2.19 -3.36 -7.87
ROE(%) -14.34 -16.63 -92.02 -56.75 -43.21 113.93 -35.65 -129.51 0 0 0
ROCE(%) 4.62 3.88 -4.27 -0.58 -0.31 13.2 1.74 -0.3 1.62 -1.43 -13.26
Receivable days 67.93 93.56 99.54 93.38 80.83 114.4 125.76 164.27 137.08 120.94 111.45
Inventory Days 285.96 332.31 420.35 639.16 706.03 868.47 701.81 852.26 732.07 790.62 1013.11
Payable days 577.09 325.64 256.61 470.96 372.6 446.05 482.22 416.59 351.19 362.05 393.5
PER(x) 0 0 0 0 0 0.24 0 0 0 0 0
Price/Book(x) 0.41 0.15 0.88 0.99 1.22 0.12 1.07 24.12 -1.36 -1.7 -0.15
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 5.66 4.7 3.92 4.48 3.21 2.79 3.09 3.52 2.37 2.58 3.02
EV/Core EBITDA(x) 15.36 12.65 17.59 69.18 31.81 37.18 21.8 60.17 20.5 48.73 85.58
Net Sales Growth(%) -8.64 1.7 -25.53 -31.51 25.88 -23.61 -8.95 -10.21 26.28 -1.77 -18.77
EBIT Growth(%) -9.72 -18.32 -179.11 91.51 56.17 3625.44 -89.21 -115.78 567.33 -171.58 -753.09
PAT Growth(%) -301.57 -27.35 -231.24 67.94 48.22 249.59 -135.77 -59.81 22.7 -50.64 -124.08
EPS Growth(%) -91.9 -70.07 -195.04 77.75 -5.56 153.58 -160.08 -122.48 9.21 0.14 -104.57
Debt/Equity(x) 5.14 5.29 10.22 6.17 26.24 9.03 12.03 220.99 -12.8 -5.75 -3.38
Current Ratio(x) 0.83 1.01 0.69 1.41 1.14 1.6 1.67 1.62 1.59 1.55 1.33
Quick Ratio(x) 0.39 0.43 0.23 0.48 0.27 0.61 0.62 0.63 0.56 0.48 0.36
Interest Cover(x) 0.66 0.5 -0.43 -0.1 -0.1 2.94 0.36 -0.06 0.26 -0.19 -1.41
Total Debt/Mcap(x) 12.58 35.65 11.65 6.26 21.44 75.66 11.19 9.16 9.4 3.39 23.01

JP Associate Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 29.97 29.97 30.23 30.23 30.23 30.23 30.23 30.12 30.12 28.77
FII 0.97 2.07 2.66 2.23 1.29 1.38 1.02 0.54 0.54 0.26
DII 9.26 9.17 9.13 9.15 9 8.91 8.91 8.57 8.57 8.57
Public 59.8 58.79 57.98 58.38 59.49 59.48 59.84 60.76 60.77 62.39
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

JP Associate News

JP Associate Pros & Cons

Pros

  • Stock is trading at -0.1 times its book value
  • Company is almost debt free.

Cons

  • Promoter holding is low: 28.77%.
  • Company has a low return on equity of 0% over the last 3 years.
  • Debtor days have increased from 362.05 to 393.5days.
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