WEBSITE BSE:516078 NSE: JUMBO BAG Inc. Year: 1990 Industry: Plastic Products My Bucket: Add Stock
Last updated: 10:38
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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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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
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(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 |
| #(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 |
| # | 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% |
| #(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 |
| #(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 |
| # | 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 |
| # | 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 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 | 0.84 |
* The pros and cons are machine generated.
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