BSE: 524592 | NSE: JDORGOCHEM | Dyes & Pigments | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that JD Orgochem Ltd is a below average quality company.
The key valuation ratios of JD Orgochem Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of JD Orgochem Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -58.8% | -87.9% | -274.4% | -420.4% | 1.2% | -159.5% | -842.9% | -202.3% | 1,866.2% | -404.2% | - |
| Value Creation Index ⓘ | NA | NA | NA | -31.0 | NA | -12.4 | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 0 | 0.8 | 0.8 | 0.5 | 1.2 | 1.8 | 1.5 | 1.2 | 1.5 | 1 | 1 |
| Sales YoY Gr. | - | NA | -1.2% | -34.2% | 122.2% | 49.2% | -16.2% | -18% | 18.7% | -32.9% | - |
| Adj EPS ⓘ | -3.3 | -0.8 | -0.7 | 3.2 | -0.1 | 1.3 | -0.9 | -0.6 | -0.9 | -4.9 | -0.3 |
| YoY Gr. | - | NA | NA | NA | -101.6% | NA | -166.2% | NA | NA | NA | - |
| BVPS (₹) ⓘ | -24.3 | -25.1 | -25.8 | -13.6 | -13.8 | -12.5 | -13.3 | -14 | -14.9 | -19.8 | -19.8 |
| Adj Net Profit ⓘ | -4.3 | -1 | -0.9 | 4.3 | -0.1 | 1.7 | -1.1 | -0.9 | -1.2 | -6.5 | 0 |
| Cash Flow from Ops. ⓘ | -1.4 | -0.5 | -0.2 | 0.5 | -0.4 | -0.2 | -1.6 | -0.4 | -0.4 | -9.4 | - |
| Debt/CF from Ops. ⓘ | -25.1 | -70.8 | -162.1 | 36.2 | -38.5 | -74.2 | -11.4 | -44.9 | -46.1 | -3.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | -4% | -13.2% | -32.9% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | NA | NA | ||||
| Share Price | 16.9% | 28.2% | 26.5% | 38% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 16.2 | 3.2 | 2.7 | -16.3 | 0.4 | -9.9 | 6.7 | 4.7 | 6 | 28.3 | 1.7 |
| Op. Profit Mgn % ⓘ | 0 | -77.2 | -70.2 | -130 | -51.9 | -25 | -31.2 | -40.4 | -30.5 | -735.8 | -83.8 |
| Net Profit Mgn % ⓘ | 0 | -125.3 | -112.3 | 794.1 | -5.3 | 96.2 | -75.9 | -69.2 | -78.3 | -659.6 | -59.8 |
| Debt to Equity ⓘ | -1.1 | -1 | -1 | -0.9 | -0.9 | -1 | -1 | -1 | -1 | -1.1 | - |
| Working Cap Days ⓘ | 0 | 903 | 913 | 847 | 201 | 170 | 159 | 282 | 294 | 389 | 152 |
| Cash Conv. Cycle ⓘ | 0 | 327 | 320 | 104 | -184 | -190 | -140 | 6 | 20 | 34 | -2,522 |
No data to display
Return on Equity has declined versus last 3 years average to 1.70%
Sales growth has been subdued in last 3 years -13.23%
Sales growth is not so good in last 4 quarters at -28.75%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.3 | -2.8 |
| TTM Sales (₹ Cr.) | 0.8 | 1.5 |
| BVPS (₹.) ⓘ | -19.8 | 0 |
| Reserves (₹ Cr.) ⓘ | -28 | -41 |
| P/BV ⓘ | -0.39 | 0.00 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 4.61 / 9.92 |
| All Time Low / High (₹) | 0.70 / 285.00 |
| Market Cap (₹ Cr.) | 10.4 |
| Equity (₹ Cr.) | 1.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 23.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0.83 | 0.82 | 0.54 | 1.20 | 1.79 | 1.50 | 1.23 | 1.46 | 0.98 |
| Operating Expenses ⓘ | 2.99 | 1.56 | 1.40 | 1.23 | 1.82 | 2.24 | 1.97 | 1.73 | 1.91 | 8.22 |
| Manufacturing Costs | 0.40 | 0.15 | 0.07 | 0.25 | 0.03 | 0.02 | 0.04 | 0.04 | 0.06 | 0.05 |
| Material Costs | 0 | 0.80 | 0.77 | 0.40 | 1.16 | 1.72 | 1.44 | 1.18 | 1.40 | 0.94 |
| Employee Cost | 0.18 | 0.05 | 0.13 | 0.14 | 0.14 | 0.14 | 0.18 | 0.15 | 0.17 | 6.65 |
| Other Costs ⓘ | 2.41 | 0.57 | 0.43 | 0.44 | 0.49 | 0.35 | 0.30 | 0.35 | 0.28 | 0.58 |
| Operating Profit ⓘ | -2.99 | -0.73 | -0.58 | -0.70 | -0.62 | -0.45 | -0.47 | -0.50 | -0.45 | -7.24 |
| Operating Profit Margin (%) | - | -88.6% | -70.2% | -130.0% | -51.9% | -25.0% | -31.2% | -40.4% | -30.5% | -735.0% |
| Other Income ⓘ | 0.98 | 0.38 | 0.52 | 0.29 | 1.31 | 2.88 | 0.22 | 0.75 | 0.27 | 0.58 |
| Interest ⓘ | 0.08 | 0.01 | 0.16 | 0.05 | 0.06 | 0.01 | 0.12 | 0.28 | 0.27 | 0.77 |
| Depreciation ⓘ | 0.82 | 0.71 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 0.83 | 0.70 | 0.19 |
| Exceptional Items ⓘ | -3.20 | 0 | 0 | 17.28 | 0.03 | 0 | 0 | 0 | 0 | 1.12 |
| Profit Before Tax ⓘ | -6.10 | -1.08 | -0.92 | 16.12 | -0.04 | 1.72 | -1.07 | -0.85 | -1.15 | -6.49 |
| Tax ⓘ | 0 | 0.01 | 0 | 0 | 0 | 0 | 0.07 | 0 | 0 | 0 |
| Profit After Tax | -6.10 | -1.08 | -0.92 | 16.12 | -0.04 | 1.72 | -1.14 | -0.85 | -1.15 | -6.49 |
| PAT Margin (%) | - | -130.0% | -112.0% | 3,001.8% | -3.5% | 96.2% | -75.9% | -69.2% | -78.3% | -659.0% |
| Adjusted EPS (₹) | -4.6 | -0.8 | -0.7 | 12.2 | 0.0 | 1.3 | -0.9 | -0.6 | -0.9 | -4.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -32.21 | -33.29 | -34.21 | -18.07 | -18.22 | -16.52 | -17.66 | -18.55 | -19.72 | -26.22 |
| Share Capital ⓘ | 1.33 | 1.33 | 1.33 | 1.33 | 1.33 | 1.33 | 1.33 | 1.33 | 1.33 | 1.33 |
| Reserves ⓘ | -33.53 | -34.61 | -35.53 | -19.40 | -19.55 | -17.85 | -18.98 | -19.87 | -21.05 | -27.55 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 33.80 | 34.04 | 34.05 | 16.19 | 16.29 | 16.29 | 18.14 | 18.71 | 19.45 | 29.44 |
| Long Term Debt | 33.80 | 34.04 | 34.05 | 16.19 | 16.29 | 16.29 | 16.04 | 16.04 | 16.04 | 16.04 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 2.10 | 2.67 | 3.41 | 13.40 |
| Trade Payables | 0.15 | 0.95 | 0.55 | 1.07 | 1.38 | 1.88 | 0.29 | 0.51 | 0 | 0.20 |
| Others Liabilities ⓘ | 10.25 | 10.25 | 10.35 | 9.21 | 8.59 | 5.75 | 5.64 | 5.14 | 5.12 | 1.36 |
| Total Liabilities ⓘ | 12 | 11.95 | 10.74 | 8.39 | 8.04 | 7.39 | 6.41 | 5.82 | 4.85 | 4.78 |
Fixed Assets | ||||||||||
| Gross Block | 80.81 | 80.79 | 80.79 | 7.91 | 7.21 | 6.50 | 7.91 | 7.91 | 7.91 | 7.91 |
| Accumulated Depreciation | 71.49 | 72.18 | 72.88 | 0.70 | 0.70 | 0.70 | 2.81 | 3.64 | 4.34 | 4.52 |
| Net Fixed Assetsⓘ | 9.32 | 8.61 | 7.91 | 7.21 | 6.50 | 5.80 | 5.10 | 4.27 | 3.58 | 3.39 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 0.53 | 0.53 | 0.53 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 0.03 | 0.92 | 0.38 | 0.01 | 0.14 | 0.18 | 0 | 0.47 | 0 | 0.21 |
| Cash Equivalents | 1.06 | 0.86 | 0.82 | 0.71 | 0.69 | 0.78 | 0.82 | 0.14 | 0.33 | 0.24 |
| Others Assetsⓘ | 1.06 | 1.03 | 1.10 | 0.46 | 0.71 | 0.63 | 0.49 | 0.94 | 0.95 | 0.94 |
| Total Assets ⓘ | 12 | 11.95 | 10.74 | 8.39 | 8.04 | 7.39 | 6.41 | 5.82 | 4.85 | 4.78 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1.35 | -0.48 | -0.21 | 0.45 | -0.42 | -0.22 | -1.60 | -0.42 | -0.42 | -9.36 |
| PBT ⓘ | -6.10 | -1.08 | -0.92 | 16.12 | -0.04 | 1.72 | -1.07 | -0.85 | -1.15 | -6.49 |
| Adjustment ⓘ | 3.24 | 0.66 | 0.54 | -16.58 | -0.57 | 0.37 | 0.84 | 1.02 | 0.79 | 0.89 |
| Changes in Working Capital ⓘ | 1.59 | -0.05 | 0.19 | 0.88 | 0.2 | -2.32 | -1.28 | -0.57 | -0.1 | -3.77 |
| Tax Paid ⓘ | 0 | -0.02 | -0.02 | 0.03 | -0.01 | 0 | -0.09 | -0.02 | 0.02 | 0 |
| Cash Flow From Investing Activity ⓘ | 6.81 | 0.04 | 0 | 0.25 | 0.07 | 0.06 | 0.05 | 0.05 | 0.14 | 0.05 |
| Capex | 0.88 | 0.04 | 0 | 0.03 | 0.03 | 0 | 0 | 0 | -0.01 | 0 |
| Net Investments | 5.93 | 0 | 0 | 0.22 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0.04 | 0.06 | 0.05 | 0.05 | 0.14 | 0.05 |
| Cash Flow From Financing Activityⓘ | -5.19 | 0.25 | 0.17 | -0.81 | 0.33 | 0.24 | 1.59 | 0.30 | 0.47 | 9.22 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -0.19 | 0.24 | 0 | -0.10 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0.16 | 0 | -0.06 | -0.01 | -0.12 | -0.28 | -0.27 | -0.77 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -5 | 0.01 | 0.01 | -0.71 | 0.39 | 0.25 | 1.71 | 0.57 | 0.74 | 9.99 |
| Net Cash Flow ⓘ | 0.28 | -0.20 | -0.04 | -0.11 | -0.02 | 0.09 | 0.05 | -0.07 | 0.18 | -0.09 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 0 | 0.07 | 0.08 | 0.06 | 0.15 | 0.23 | 0.22 | 0.2 | 0.27 | 0.2 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | 0.03 | N/A | -0.13 | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 0 | 210 | 265 | 134 | 23 | 33 | 0 | 139 | 0 | 78 |
| Inventory Days | 0 | 232 | 214 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 251 | 357 | 731 | 387 | 345 | 274 | 124 | 0 | 78 |
JD Orgochem is engaged in manufacturing and marketing agrochemical products and dyes. It was incorporated as a private limited company on October 5, 1973, and later converted into a public limited company on October 29, 1988. Earlier known as Jaysynth Dyechem, it got its present name on January 27, 2004.
It markets its products under the brand names Reactofix and Terenix. The two plants are located at Turbe and Patalganga in Maharashtra. Jaysynth Anthraquinones and Jaysynth (Europe) are subsidiary companies.
Through agents and distributors, the company exports more than 50% of its production to over 40 countries around the world. Major clients include the Birla group, Bombay Dyeing, Century Textile, Century Enka, JCT Mills, Khatau, Mafatlal group, Reliance, and Piramal group among others. The Board of Industrial and Financial Reconstruction (BIFR) have vide its order dated February 5, 2007 filed the company as a sick industrial company.
Business areas of the company:
The company manufactures dyes and pigments, dye intermediates and fungicides.
Milestones:
1973 The company was incorporated as Private Limited Company on 5th October. The Company was later converted into public limited company 29th October 1988. The company promoted by Saradchandra S. Kothari and his family members and is one of the leading manufacturers of Reactive and Disperse Dyes in India. The company is the fourth largest manufacturer of dyes in India. JD Orgochem also manufactures a number of Dye Intermediates. It has an R&D department and has agents and distributors all over the world and the products are sold under the brand name Reactofix and Terenex.
1989 Effective 1st April, Group companies viz. Jay Phthalocyanines, Jay Ethyl Organics and N.A. Chemicals having their plants next to the company's plant at Turbhe & manufacturing similar products as of the company were amalgamated with the company.
1994 JD Orgochem implemented the project at both the plants of the company at a cost of Rs 23 crore, which enhanced the dyeing capacity from 3600 tpa to 4680 tpa. Plant and Machinery comprised rubberlined/titlelined/carbonlined reactors, holding tanks, membrane systems were installed.
2000 The Company has entered into an agreement with NSDL and CDSL.
2001 Jaysynth Dyechem informed BSE that due to Labour problems, the company has declared lock-out at its factory situated at Plot No.A-4/2, MIDC Industrial Area, Patelganga, Dist. Raigad.
2003 Changed the name of the company from Jaysynth Dyechem to JD Orgochem.
Future Plans:
JD Orgochem is working out a revival package with the help and support of BIFR/ARGIL/SASF. The revival package may include induction of funds from strategic investors, sale of surplus assets, and restarting operation of its Patalganga plant.
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Here is the summary:
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