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JP Associate

₹16.7 0 | 0.1%

Market Cap ₹4109 Cr.

Stock P/E -3.4

P/B -2

Current Price ₹16.7

Book Value ₹ -8.6

Face Value 2

52W High ₹27.2

Dividend Yield 0%

52W Low ₹ 6.9

JP Associate Research see more...

Overview Inc. Year: 1995Industry: Engineering - Construction

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 activities-related events; Real Estate, which incorporates real estate improvement; Power, which incorporates generation and sale of energy; Investments, which includes investments in subsidiaries and joint ventures for cement, energy, expressway and sports, amongst others, and Others, which includes coal, waste treatment plant, heavy engineering works, hitech castings and man power supply, amongst others. It has operations in Haryana, Madhya Pradesh, Gujarat and Jharkhand, amongst others.

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JP Associate Share Price

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JP Associate Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 1690 1889 1639 1660 1820 1876 1908 1429 1896 1503
Other Income 113 35 265 41 55 57 42 76 47 56
Total Income 1802 1924 1904 1701 1875 1933 1950 1505 1943 1559
Total Expenditure 1708 1837 1906 1587 1716 1688 1647 1351 1806 1406
Operating Profit 95 86 -2 114 158 245 303 154 137 153
Interest 261 288 247 286 295 281 174 226 253 271
Depreciation 143 134 110 100 103 101 77 97 96 96
Exceptional Income / Expenses 0 0 0 0 0 0 -201 0 10 -238
Profit Before Tax -309 -336 -358 -272 -240 -138 -149 -168 -202 -452
Provision for Tax 2 12 -6 26 -9 15 7 7 3 17
Profit After Tax -311 -348 -352 -298 -231 -153 -156 -175 -205 -469
Adjustments 7 5 -188 -78 -104 -156 -166 -5 -41 -5
Profit After Adjustments -304 -344 -540 -376 -335 -309 -322 -181 -246 -474
Adjusted Earnings Per Share -1.2 -1.4 -2.2 -1.5 -1.4 -1.3 -1.3 -0.7 -1 -1.9

JP Associate 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 15363 15441 14107 14346 10683 7317 9210 7035 6406 5752 7263 6736
Other Income 189 159 184 106 153 146 67 101 205 427 259 221
Total Income 15552 15600 14290 14452 10836 7463 9277 7137 6611 6179 7522 6957
Total Expenditure 9766 9835 9090 9120 8455 6988 8347 6610 5703 5842 6682 6210
Operating Profit 5786 5765 5200 5332 2381 474 931 527 908 337 840 747
Interest 3580 5036 6121 6585 6086 2189 988 1159 1026 998 1056 924
Depreciation 1436 1708 1694 1820 1888 782 593 603 568 395 381 366
Exceptional Income / Expenses 0 395 514 -229 -3090 757 -328 3905 27 0 -201 -429
Profit Before Tax 770 -584 -2102 -3302 -8683 -2409 -1084 2250 -659 -1056 -785 -971
Provision for Tax 288 -140 -321 -1034 -1171 -1 163 384 9 11 39 34
Profit After Tax 482 -443 -1781 -2268 -7512 -2409 -1247 1866 -667 -1066 -824 -1005
Adjustments -20 -381 46 -683 -1194 471 -798 -770 6 -412 -517 -217
Profit After Adjustments 462 -825 -1735 -2951 -8706 -1937 -2045 1096 -662 -1478 -1342 -1223
Adjusted Earnings Per Share 2.1 -3.7 -7.1 -12.1 -35.8 -8 -8.4 4.5 -2.7 -6 -5.5 -4.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 26% 1% -0% -7%
Operating Profit CAGR 149% 17% 12% -18%
PAT CAGR 0% NAN% 0% NAN%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 127% 27% 28% -12%
ROE Average 0% -55% -19% -25%
ROCE Average 2% 1% 3% 3%

JP Associate 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 12553 10270 14955 12517 3810 4679 1093 2182 1562 85 -1251
Minority's Interest 3860 4424 4487 4989 1465 973 333 -9 -21 -41 -52
Borrowings 53725 57508 56676 52861 26578 25706 24763 16519 15625 15141 11953
Other Non-Current Liabilities 3051 2917 2194 3001 531 1986 3819 4631 5926 7038 7991
Total Current Liabilities 21359 27557 31189 23038 26361 14867 25350 11966 12270 14168 14637
Total Liabilities 94548 102676 109501 100187 61087 49211 56359 36289 36362 37391 37768
Fixed Assets 42557 45434 53775 42785 18589 19714 19845 9589 8988 8618 4958
Other Non-Current Assets 31261 36768 29747 18823 9906 7592 6655 6521 5898 4859 4888
Total Current Assets 20731 20474 25978 23327 18303 20905 28859 19179 20476 22914 23345
Total Assets 94548 102676 109501 100187 61087 49211 56359 36289 36362 37391 37768

JP Associate 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 1480 1912 1696 1241 496 308 355 191 181 511 310
Cash Flow from Operating Activities 5522 4553 3696 6676 5793 -855 770 827 1076 21 761
Cash Flow from Investing Activities -11803 -7316 -3608 7000 -1292 15122 -3 -196 -3 60 -116
Cash Flow from Financing Activities 6713 2546 -518 -14421 -4554 -14220 -931 -570 -743 -281 -625
Net Cash Inflow / Outflow 432 -216 -430 -745 -53 47 -165 60 330 -200 20
Closing Cash & Cash Equivalent 1912 1696 1266 496 308 355 190 181 511 310 330

JP Associate 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) 2.08 -3.72 -7.13 -12.13 -35.79 -7.96 -8.41 4.5 -2.71 -6.02 -5.47
CEPS(Rs) 8.64 5.7 -0.36 -1.84 -23.12 -6.69 -2.69 10.15 -0.41 -2.73 -1.8
DPS(Rs) 0.5 0.09 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 55.67 45.4 60.68 51.46 15.66 19.23 4.49 8.97 6.39 0.34 -5.1
Core EBITDA Margin(%) 33.89 33.94 33.37 34.75 19.92 4.42 9.38 6 10.92 -1.56 7.99
EBIT Margin(%) 26.34 26.96 26.73 21.83 -23.22 -2.97 -1.05 48.07 5.71 -1.01 3.72
Pre Tax Margin(%) 4.66 -3.53 -13.98 -21.96 -77.64 -32.41 -11.77 31.73 -10.23 -18.33 -10.79
PAT Margin (%) 2.92 -2.69 -11.84 -15.08 -67.17 -32.4 -13.54 26.31 -10.37 -18.52 -11.32
Cash Profit Margin (%) 11.61 7.66 -0.58 -2.98 -50.28 -21.88 -7.11 34.81 -1.54 -11.65 -6.09
ROA(%) 0.55 -0.45 -1.68 -2.16 -9.32 -4.37 -2.36 4.03 -1.84 -2.89 -2.19
ROE(%) 4.08 -3.95 -14.34 -16.63 -92.02 -56.75 -43.21 113.93 -35.65 -129.51 0
ROCE(%) 6.18 5.59 4.62 3.88 -4.27 -0.58 -0.31 13.2 1.74 -0.3 1.62
Receivable days 40.14 46.29 67.93 93.56 99.54 93.38 80.83 114.4 125.76 164.27 137.08
Inventory Days 198.27 213.73 285.96 332.31 420.35 639.16 706.03 868.47 701.81 852.26 732.07
Payable days 1250.73 747.81 577.09 325.64 256.61 470.96 372.6 446.05 482.22 416.59 351.19
PER(x) 31.48 0 0 0 0 0 0 0.24 0 0 0
Price/Book(x) 1.18 1.18 0.41 0.15 0.88 0.99 1.22 0.12 1.07 24.12 -1.36
Dividend Yield(%) 0.76 0.17 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 4.9 5.37 5.66 4.7 3.92 4.48 3.21 2.79 3.09 3.52 2.37
EV/Core EBITDA(x) 13.02 14.38 15.36 12.65 17.59 69.18 31.81 37.18 21.8 60.17 20.5
Net Sales Growth(%) 3.78 0.51 -8.64 1.7 -25.53 -31.51 25.88 -23.61 -8.95 -10.21 26.28
EBIT Growth(%) -9.7 2.35 -9.72 -18.32 -179.11 91.51 56.17 3625.44 -89.21 -115.78 567.33
PAT Growth(%) -49.08 -191.96 -301.57 -27.35 -231.24 67.94 48.22 249.59 -135.77 -59.81 22.7
EPS Growth(%) -30.08 -278.62 -91.9 -70.07 -195.04 77.75 -5.56 153.58 -160.08 -122.48 9.21
Debt/Equity(x) 5.15 7.26 5.14 5.29 10.22 6.17 26.24 9.03 12.03 220.99 -12.8
Current Ratio(x) 0.97 0.74 0.83 1.01 0.69 1.41 1.14 1.6 1.67 1.62 1.59
Quick Ratio(x) 0.52 0.39 0.39 0.43 0.23 0.48 0.27 0.61 0.62 0.63 0.56
Interest Cover(x) 1.22 0.88 0.66 0.5 -0.43 -0.1 -0.1 2.94 0.36 -0.06 0.26
Total Debt/Mcap(x) 4.38 6.14 12.58 35.65 11.65 6.26 21.44 75.66 11.19 9.16 9.4

JP Associate Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 38.3 38.17 38.17 38.16 38.15 38.06 37.74 37.7 29.97 29.97
FII 0.92 1.1 1.13 1.2 1.08 0.97 0.57 0.89 0.97 2.07
DII 2.56 2.55 2.51 1.7 1.31 1.28 1.3 1.35 9.26 9.17
Public 58.22 58.19 58.2 58.94 59.45 59.69 60.39 60.07 59.8 58.79
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at -2 times its book value
  • Debtor days have improved from 416.59 to 351.19days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 29.97%.
  • Company has a low return on equity of -55% over the last 3 years.

* 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.

JP Associate News

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