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10 Yrs X-Ray 
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Analyst Note 
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About
Jyoti Resins & Adhesives Ltd (JYOTIRES)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514448 NSE: JYOTIRES Chemicals | Small Cap | Jyoti Resins&Adhesiv Share Price
₹869.25 -0.60 (-0.07%)
As on 04-Sep'26 16:59
Jyoti Resins & Adhesives Ltd (JYOTIRES)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514448 NSE: JYOTIRES Chemicals | Small Cap | Jyoti Resins&Adhesiv Share Price
₹869.25 -0.60 (-0.07%)
As on 04-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,043 Cr.
Current Price
₹869.3
52-Week Low / High
₹700 / 1,301
TTM EPS
₹53.6
TTM Sales
₹327 Cr.
Book Value per Share
₹236.4
P/E Ratio
16.21
Lower than its 5-year historical median
Industry PE
49.6
Price to Book (P/B)
3.68
Lower than its 5-year historical median
Price to Sales (P/S)
3.19
Lower than its 5-year historical median
EV/EBITDA
10.40
Lower than its 5-year historical median
Dividend Yield
1.04%
Profitability Efficiency
Return on Equity (ROE)
28.89%
Outperforms industry median
Return on Capital Employed (ROCE)
39.08%
Outperforms industry median
Return on Assets (ROA)
17.52%
Operating Profit Margin
27%
Net Profit Margin
22.23%
Gross Profit Margin
30.6%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
10.78%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-5.02%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-5.27%
Asset Quality
Promoter Holding
54.37%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹272 Cr.
Equity
₹12 Cr.
Face Value
₹10
All Time Low / High
₹0.10 / 1818.45
Check Before You Invest
Quality
Very GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Weak
Is Jyoti Resins & Adhesives Ltd a good quality company?
Jyoti Resins & Adhesives Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Jyoti Resins & Adhesives Ltd performance compare with that of its Peers?
Revenue growth of Jyoti Resins & Adhesives Ltd vs industry peers?
Jyoti Resins & Adhesives Ltd revenue CAGR is 25.45%, compared to the industry median CAGR of 7.91%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Jyoti Resins & Adhesives Ltd?
Promoters hold 54.37% of the Jyoti Resins & Adhesives Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Jyoti Resins & Adhesives Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 39.3% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Jyoti Resins & Adhesives Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.1% | 17.9% | 43.1% | 87.1% | 72.9% | 72.4% | 91.1% | 75.2% | 54.6% | 39.1% | - |
| Value Creation Index ⓘ | -0.3 | 0.3 | 2.1 | 5.2 | 4.2 | 4.2 | 5.5 | 4.4 | 2.9 | 1.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 42.4 | 54.2 | 68.7 | 73.5 | 101 | 182 | 261 | 257 | 284 | 315 | 327 |
| Sales YoY Gr. | - | 28.1% | 26.7% | 7.1% | 37.8% | 79.6% | 43.6% | -1.5% | 10.4% | 10.8% | - |
| Adj EPS ⓘ | 0.3 | 0.9 | 1.8 | 7.4 | 9.3 | 15.8 | 38.7 | 55.9 | 61.5 | 58.2 | 53.6 |
| YoY Gr. | - | 163.6% | 110.3% | 301.6% | 27.1% | 68.6% | 145.7% | 44.5% | 10% | -5.4% | - |
| BVPS (₹) ⓘ | 3.9 | 4.7 | 6.6 | 13.3 | 22.6 | 38.1 | 74.3 | 124.5 | 177.1 | 226.6 | 236.4 |
| Adj Net Profit ⓘ | 0.4 | 1.1 | 2.2 | 8.8 | 11.2 | 18.9 | 46.4 | 67.1 | 73.9 | 69.8 | 64 |
| Cash Flow from Ops. ⓘ | 3.7 | 3.1 | 4.3 | 6.9 | 10.4 | 2.6 | 0.9 | 26.9 | 14.8 | 48.1 | - |
| Debt/CF from Ops. ⓘ | 2.1 | 0.1 | 0.2 | 0.2 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 25% | 25.5% | 6.4% | 10.8% | ||||
| Adj EPS ⓘ | 77.7% | 44.2% | 14.6% | -5.4% | ||||
| BVPSⓘ | 57.2% | 58.6% | 45% | 28% | ||||
| Share Price | 39.4% | 26.7% | -19.8% | -31.4% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.9 | 20.3 | 32.4 | 48.6 | 31 | 35.5 | 55.1 | 49.3 | 37.4 | 27 | 23.2 |
| Op. Profit Mgn % ⓘ | 3.1 | 3.2 | 4.2 | 15.9 | 10.3 | 13.4 | 23.2 | 32.6 | 31.5 | 27 | 23.5 |
| Net Profit Mgn % ⓘ | 0.9 | 1.9 | 3.2 | 12 | 11.1 | 10.4 | 17.8 | 26.1 | 26 | 22.2 | 19.7 |
| Debt to Equity ⓘ | 1.7 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 227 | 311 | 315 | 365 | 281 | 160 | 150 | 188 | 195 | 220 | 189 |
| Cash Conv. Cycle ⓘ | 145 | 268 | 272 | 281 | 202 | 126 | 103 | 112 | 124 | 153 | 120 |
Valuation of Jyoti Resins&Adhesiv - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 42 | 54 | 69 | 74 | 101 | 182 | 261 | 257 | 284 | 315 |
| Operating Expenses ⓘ + | 41 | 52 | 66 | 63 | 91 | 158 | 201 | 173 | 195 | 230 |
| Operating Profit ⓘ | 1 | 2 | 3 | 10 | 10 | 24 | 61 | 84 | 89 | 85 |
| Operating Profit Margin (%) | 3.1% | 3.2% | 4.2% | 14.1% | 10.3% | 13.1% | 23.2% | 32.6% | 31.5% | 27.0% |
| Other Income ⓘ + | 0 | 0 | 1 | 1 | 6 | 3 | 2 | 7 | 11 | 12 |
| Interest ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 |
| Profit Before Tax ⓘ | 1 | 1 | 3 | 11 | 16 | 26 | 61 | 90 | 99 | 95 |
| Tax ⓘ | 0 | 0 | 1 | 3 | 4 | 7 | 15 | 22 | 25 | 25 |
| Profit After Tax | 0 | 1 | 2 | 8 | 12 | 20 | 46 | 67 | 74 | 70 |
| PAT Margin (%) | 0.9% | 1.9% | 3.2% | 11.0% | 12.0% | 10.9% | 17.8% | 26.1% | 26.0% | 22.2% |
| Adjusted EPS (₹) | 0.3 | 0.9 | 1.8 | 6.8 | 10.1 | 16.5 | 38.7 | 55.9 | 61.6 | 58.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 12.40% | 9.90% | 15.20% | 15.50% | 16.10% | 14.60% | 15.40% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 5 | 6 | 8 | 28 | 44 | 63 | 106 | 166 | 229 | 289 | |
| Debt + | 8 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 7 | 2 | 3 | 4 | 2 | 2 | 14 | 10 | 15 | 10 | |
| Others Liabilities ⓘ | 29 | 49 | 71 | 87 | 98 | 87 | 90 | 115 | 129 | 127 | |
| Total Liabilities ⓘ | 49 | 58 | 82 | 120 | 144 | 152 | 211 | 292 | 373 | 426 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 1 | 4 | 5 | 19 | 39 | 46 | 47 | 48 | 48 | 50 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 0 | 0 | 0 | 6 | 3 | 0 | 0 | 0 | 2 | 47 | |
| Inventories | 6 | 5 | 5 | 9 | 5 | 9 | 5 | 5 | 7 | 9 | |
| Trade Receivables | 37 | 43 | 54 | 53 | 52 | 64 | 91 | 94 | 126 | 159 | |
| Cash Equivalents | 3 | 4 | 8 | 18 | 24 | 24 | 31 | 111 | 153 | 119 | |
| Others Assets ⓘ | 2 | 1 | 10 | 16 | 21 | 8 | 36 | 34 | 38 | 42 | |
| Total Assets ⓘ | 49 | 58 | 82 | 120 | 144 | 152 | 211 | 292 | 373 | 426 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 4 | 3 | 4 | 7 | 10 | 3 | 1 | 27 | 15 | 48 |
| Cash Flow From Investing Activity ⓘ + | -1 | -2 | -1 | -7 | -9 | -2 | -0 | 5 | 8 | -37 |
| Cash Flow From Financing Activity ⓘ + | -1 | 0 | 0 | 0 | -2 | -1 | -3 | -7 | -11 | -11 |
| Net Cash Flow ⓘ | 2 | 2 | 3 | 0 | -1 | -1 | -2 | 24 | 12 | -0 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.73 | 20.28 | 32.39 | 67.9 | 56.42 | 54.24 | 68.85 | 56.26 | 40.83 | 28.89 |
| ROCE (%) | 10.06 | 17.87 | 43.06 | 87.13 | 72.85 | 72.43 | 91.05 | 75.16 | 54.64 | 39.08 |
| Asset Turnover Ratio | 1.5 | 1.04 | 0.98 | 0.73 | 0.77 | 1.23 | 1.44 | 1.02 | 0.85 | 0.79 |
| PAT to CFO Conversion(x) | N/A | 3 | 2 | 0.88 | 0.83 | 0.15 | 0.02 | 0.4 | 0.2 | 0.69 |
| Working Capital Days | ||||||||||
| Receivable Days | 182.30 | 267.10 | 259.20 | 266.40 | 189.60 | 116.80 | 108.80 | 131.50 | 141 | 165.10 |
| Inventory Days | 35.60 | 36.10 | 28.30 | 35 | 25.50 | 14.50 | 9.80 | 7.10 | 7.60 | 8.90 |
| Payable Days | 145.90 | 53.10 | 20.70 | 35.30 | 24.50 | 8.30 | 26.30 | 70.50 | 60.50 | 56 |
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Jyoti Resins & Adhesives Ltd FAQs
The current trading price of Jyoti Resins&Adhesiv on 04-Sep-2026 16:59 is ₹869.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Sep-2026 the market cap of Jyoti Resins&Adhesiv stood at ₹1,043.1 Cr
The latest P/E ratio of Jyoti Resins&Adhesiv as of 03-Sep-2026 is 16.21.
The latest P/B ratio of Jyoti Resins&Adhesiv as of 03-Sep-2026 is 3.68.
The 52-week high of Jyoti Resins&Adhesiv is ₹1,301 and the 52-week low is ₹700.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Jyoti Resins&Adhesiv is ₹327 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Jyoti Resins & Adhesives Ltd is a good quality company.
The key valuation ratios of Jyoti Resins & Adhesives Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Jyoti Resins & Adhesives Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Jyoti Resins & Adhesives Ltd
Jyoti Resins & Adhesives was incorporated in 1993. The main business of Jyoti Resins & Adhesives is plastics resins. The company’s plants are located in Santej (Mahesana, Gujarat).
In 2002, Jyoti Resins & Adhesives informed that the board of directors of the company at its meeting held on July 26, 2002 approved for sub division of equity shares of Rs 10 each paid up into Re 1 each paid up.
Business areas of the company:
The group's principal activity is to manufacture and market adhesives and paints products. The group's products include maleic resins, paints and alkyd resins.
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