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Jumbo Bag Overview

1. Business Overview

Jumbo Bag Ltd. is primarily engaged in the manufacturing and sale of Flexible Intermediate Bulk Containers (FIBCs), also known as "jumbo bags," and other woven plastic products. These bags are used for packaging, storing, and transporting dry, flowable products such as chemicals, pharmaceuticals, food grains, fertilizers, cement, and minerals. The company's core business model involves procuring raw materials (primarily polypropylene granules), manufacturing these industrial packaging solutions, and selling them to a diverse range of industrial customers, both domestically and internationally.

2. Key Segments / Revenue Mix

While specific segmental data is not publicly detailed without financial reports, Jumbo Bag Ltd.'s revenue is predominantly derived from its manufacturing operations of FIBCs and related woven polypropylene products. This would include various types of FIBCs (e.g., standard, baffled, conductive), small woven sacks, and possibly other tarpaulins or fabrics. The company likely caters to different end-user industries, which represent internal "segments" by application rather than distinct product lines.

3. Industry & Positioning

The company operates within the broader plastic products sector, specifically in the industrial packaging segment, which produces FIBCs. This industry is global, fragmented, and competitive, with players ranging from large integrated manufacturers to smaller regional units. Jumbo Bag Ltd. positions itself as a manufacturer and exporter of these specialized bulk packaging solutions, competing on factors such as product quality, customization capabilities, cost efficiency, and timely delivery. Its presence in India provides it with potential advantages in raw material sourcing and access to a growing domestic market, as well as an export base.

4. Competitive Advantage (Moat)

Jumbo Bag Ltd. likely possesses a moderate competitive advantage primarily stemming from:

Scale & Cost Efficiency: As a focused manufacturer, achieving economies of scale in production can lead to cost advantages over smaller competitors.

Product Customization & Quality: The ability to offer a wide range of customized FIBCs to meet specific client requirements (e.g., material, size, safety features) and maintain consistent quality can build strong customer relationships.

Customer Relationships: Long-standing relationships with industrial clients, particularly for repeat orders, can create a degree of stickiness due to the critical nature of packaging in their supply chain.

Export Infrastructure: Established export channels and compliance with international standards can be a barrier for new entrants.

5. Growth Drivers

Key factors that can drive growth for Jumbo Bag Ltd. over the next 3-5 years include:

Industrial Growth: Expansion in end-user industries like chemicals, agriculture, construction, and food processing will directly increase demand for bulk packaging.

Export Opportunities: Growing global demand for FIBCs, especially from developing economies and regions shifting from traditional packaging methods, provides significant export potential.

Substitution Effect: Continued shift from traditional packaging (e.g., drums, cardboard boxes) to more efficient and cost-effective FIBCs.

Product Innovation: Development of new types of FIBCs with enhanced features (e.g., anti-static, breathable, food-grade) for specialized applications.

Infrastructure Development: Large-scale infrastructure projects in India and globally drive demand for cement, minerals, and other bulk materials requiring FIBCs.

6. Risks

Raw Material Price Volatility: Significant fluctuations in the price of polypropylene granules (a crude oil derivative) can impact profit margins.

Intense Competition: The FIBC market is fragmented, leading to pricing pressure from numerous domestic and international players.

Regulatory Risks: Potential for stricter environmental regulations regarding plastic use and disposal, though FIBCs are often reused or recycled and are essential for industrial use.

Economic Slowdown: A downturn in global or domestic industrial activity can reduce demand for bulk packaging.

Currency Fluctuations: As an exporter, adverse movements in foreign exchange rates can affect profitability.

Logistics & Supply Chain Disruptions: Delays or increased costs in shipping can impact delivery schedules and profitability, especially for exports.

7. Management & Ownership

Jumbo Bag Ltd. is likely a promoter-driven company, common among Indian manufacturing firms. The promoters typically hold a significant stake, reflecting a long-term commitment to the business. While specific details on the management team's track record or corporate governance practices are not provided, their experience in the plastic products industry and ability to navigate market cycles would be crucial. The ownership structure would likely show a substantial promoter holding, with the remaining shares held by institutional investors, HNIs, and the public.

8. Outlook

Jumbo Bag Ltd. operates in a growing industrial packaging market driven by global manufacturing expansion and the efficiency benefits of FIBCs. The company's established manufacturing base and export capabilities position it to capitalize on these trends. However, its performance remains susceptible to volatile raw material costs, intense competition, and broader economic cycles. Maintaining cost efficiencies, innovating product offerings, and expanding its customer base will be critical for sustained profitability. The outlook is cautiously optimistic, balancing the secular demand for industrial packaging with the inherent challenges of a commodity-linked manufacturing business.

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Jumbo Bag Key Financials

Market Cap ₹52 Cr.

Stock P/E 16

P/B 1.5

Current Price ₹62

Book Value ₹ 41.8

Face Value 10

52W High ₹105

Dividend Yield 0%

52W Low ₹ 49.1

Jumbo Bag Share Price

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Volume
Price

Jumbo Bag Quarterly Price

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Jumbo Bag Peer Comparison

Jumbo Bag Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 26 27 28 33 33 32 31 31 29 27
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 26 27 28 33 33 32 31 32 29 27
Total Expenditure 23 25 26 31 31 28 26 28 25 24
Operating Profit 3 2 2 2 3 4 5 4 3 3
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 1 1 1 1 1 0 1 1 1 1
Exceptional Income / Expenses -2 0 0 0 0 0 0 2 0 0
Profit Before Tax -0 1 1 1 1 2 3 4 2 2
Provision for Tax -0 0 0 0 0 1 1 1 0 1
Profit After Tax -0 1 0 1 1 1 2 3 2 1
Adjustments 0 0 0 0 -0 0 -0 0 0 0
Profit After Adjustments -0 1 0 1 1 1 2 3 2 1
Adjusted Earnings Per Share -0.4 0.7 0.6 0.7 1.2 1.4 2.7 3.7 2.1 1.5

Jumbo Bag 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 95 85 96 106 117 92 85 131 111 105 126 118
Other Income 3 0 1 0 0 1 0 1 0 0 0 0
Total Income 97 85 97 106 118 93 85 131 111 105 127 119
Total Expenditure 90 78 89 98 109 85 79 121 103 96 116 103
Operating Profit 8 7 8 8 9 7 6 11 8 9 11 15
Interest 8 6 5 5 5 4 3 3 4 4 3 4
Depreciation 2 2 2 2 2 2 2 2 2 2 2 4
Exceptional Income / Expenses 0 0 0 0 -2 0 0 -4 -0 -2 0 2
Profit Before Tax -1 -1 1 1 1 1 1 1 2 1 5 11
Provision for Tax -0 -0 0 0 -0 0 0 0 0 0 2 3
Profit After Tax -1 -1 1 1 1 1 0 1 1 1 3 8
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -1 -1 1 1 1 1 0 1 1 1 3 8
Adjusted Earnings Per Share -1.6 -0.8 0.7 1.3 1.2 1.1 0.4 1.3 1.8 1.4 3.9 10

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 20% -1% 6% 3%
Operating Profit CAGR 22% 0% 9% 3%
PAT CAGR 200% 44% 25% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 10% 39% 44% 25%
ROE Average 14% 9% 7% 4%
ROCE Average 13% 10% 9% 9%

Jumbo Bag 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 14 26 28 28 29 30 31 32 33 34 37
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 3 2 2 1 2 0 3 4 5 6 10
Other Non-Current Liabilities 5 4 3 4 3 5 6 5 4 3 3
Total Current Liabilities 66 72 73 68 65 50 59 60 52 46 52
Total Liabilities 87 104 105 102 100 86 99 101 94 89 102
Fixed Assets 16 28 27 28 27 26 26 26 27 31 31
Other Non-Current Assets 2 2 2 9 6 5 5 2 2 1 7
Total Current Assets 69 75 77 66 68 54 67 73 65 57 63
Total Assets 87 104 105 102 100 86 99 101 94 89 102

Jumbo Bag 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 2 2 2 2 2 2 1 2 2 3 2
Cash Flow from Operating Activities 0 -3 3 13 1 16 2 1 12 13 -2
Cash Flow from Investing Activities -1 -1 -1 -3 -1 -1 -2 -3 -4 -5 -4
Cash Flow from Financing Activities 0 4 -2 -9 -0 -15 0 2 -7 -9 6
Net Cash Inflow / Outflow -0 -0 0 1 -1 -0 0 1 1 -1 1
Closing Cash & Cash Equivalent 2 2 2 2 2 1 2 2 3 2 3

Jumbo Bag 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) -1.61 -0.8 0.74 1.31 1.23 1.15 0.38 1.27 1.76 1.42 3.87
CEPS(Rs) 0.43 1.22 2.75 3.44 3.36 3.3 3.15 3.96 4.61 4.09 6.6
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 16.01 15.22 17.15 18.14 19.3 20.51 21.17 22.32 23.78 24.74 29.28
Core EBITDA Margin(%) 5.24 6.95 7.25 7.15 7.45 7 7.1 7.54 7.29 8.22 8.21
EBIT Margin(%) 6.25 5.59 6.44 5.89 4.93 5.83 4.64 3.36 5.04 4.82 6.62
Pre Tax Margin(%) -1.5 -1.1 1.08 1.35 0.85 1.23 0.65 0.98 1.7 1.31 3.93
PAT Margin (%) -1.36 -0.75 0.62 1.02 0.88 1.05 0.37 0.81 1.32 1.13 2.56
Cash Profit Margin (%) 0.37 1.15 2.31 2.7 2.4 3.01 3.12 2.54 3.47 3.26 4.37
ROA(%) -1.45 -0.7 0.59 1.05 1.02 1.04 0.34 1.06 1.51 1.3 3.39
ROE(%) -8.8 -5.11 4.54 7.4 6.57 5.77 1.8 5.83 7.63 5.85 14.31
ROCE(%) 9.77 7.89 9.65 9.58 8.91 8.63 6.7 7.01 8.92 8.54 13.07
Receivable days 128.47 127.07 123.39 107.71 91.33 105.91 126.18 103.66 118.08 111.67 94.67
Inventory Days 74.96 98.92 95.09 87.15 77.82 97.81 105.42 70.86 82.47 78.57 62.35
Payable days 135.25 129.19 104.31 98.05 84.79 78.46 98.5 75.16 81.58 76.21 54.86
PER(x) 0 0 19.04 10.19 11.59 5.52 23.34 17.29 10.39 26.93 16.31
Price/Book(x) 0.26 0.41 0.82 0.73 0.74 0.31 0.41 0.98 0.77 1.55 2.15
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.52 0.65 0.66 0.53 0.52 0.47 0.57 0.47 0.47 0.63 0.75
EV/Core EBITDA(x) 6.24 8.27 7.85 6.92 6.7 6.03 7.67 5.87 6.35 7.28 8.94
Net Sales Growth(%) 12.43 -10.66 13.91 9.64 11.09 -21.81 -7.9 54.35 -14.8 -5.63 20.46
EBIT Growth(%) 143.61 -19.46 29.42 -2.16 -8.03 -7.55 -26.75 11.8 27.94 -9.73 65.22
PAT Growth(%) 39.13 50.41 192.14 77.52 -5.79 -6.63 -67.26 237.11 38.76 -19.24 172.3
EPS Growth(%) 39.13 50.4 192.14 77.52 -5.8 -6.63 -67.26 237.12 38.76 -19.24 172.3
Debt/Equity(x) 3.45 3.92 3.65 3.02 3.06 2.24 2.32 2.4 2 1.73 1.83
Current Ratio(x) 1.05 1.04 1.06 0.96 1.04 1.08 1.14 1.22 1.26 1.23 1.23
Quick Ratio(x) 0.72 0.68 0.71 0.59 0.66 0.6 0.72 0.78 0.8 0.77 0.8
Interest Cover(x) 0.81 0.84 1.2 1.3 1.21 1.27 1.16 1.41 1.51 1.37 2.46
Total Debt/Mcap(x) 13.87 9.78 4.6 4.24 4.24 7.41 5.73 2.5 2.66 1.14 0.86

Jumbo Bag Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 42.6 42.6 42.6 42.6 42.6 42.6 42.6 42.6 42.68 42.77
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 57.4 57.4 57.4 57.4 57.4 57.4 57.4 57.4 57.32 57.23
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Jumbo Bag News

Jumbo Bag Pros & Cons

Pros

  • Company has delivered good profit growth of 24% CAGR over last 5 years
  • Debtor days have improved from 76.21 to 54.86days.

Cons

  • Promoter holding is low: 42.77%.
  • Company has a low return on equity of 9% over the last 3 years.
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