Jaiprakash Associates Ltd Stock Analysis

BSE: 532532 | NSE: JPASSOCIAT | Cement & Construction Materials | Small Cap

BSE Share Price 05-Jun-2023 10:03
7.26 0.05 (0.69%)

DeciZen - Make an Informed Decision on JP Associate

Overall Rating

1. Quality

2. Valuation


3. Price Trend

Semi Strong

JP Associate Price Chart

P/E Ratio ( CD) :
Market Cap :
1,769.8 Cr.
52-wk low :
52-wk high :
Bole Toh?

1. Is Jaiprakash Associates Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Jaiprakash Associates Ltd is a below average quality company.

2. Is Jaiprakash Associates Ltd undervalued or overvalued?

The key valuation ratios of Jaiprakash Associates Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Jaiprakash Associates Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Jaiprakash Associates Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of JP Associate:

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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Jaiprakash Associates Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

ROCE % 4.9%4.3%3.1%4%0.9%-0%0.6%1.9%0.8%-4.4%-
Value Creation Index -0.6-0.7-0.8-0.7-0.9-1.0-1.0-0.9-0.9-1.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 18,88919,78119,61118,39713,7597,6459,2107,0356,4067,0347,263
YoY Gr. Rt. %-4.7%-0.9%-6.2%-25.2%-44.4%20.5%-23.6%-9%9.8%-
Adj EPS 1.7-3.3-9.4-7.8-19.2-7.2-2.1-1.3-2.2-6.5-5.5
BVPS (₹) 55.745.460.751.515.719.24.596.40.3-4.6
Adj Net Profit 367-727-2,278-1,891-4,659-1,746-507-323-542-1,599-1,343
Cash Flow from Ops. 5,5224,5533,6966,6765,793-8557708271,07659.7-
Debt/CF from Ops. 11.516.


CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -10.4%-12.6%-8.6%9.8%
Adj EPS -216.5%NANANA
BVPS -43.3-53.5-57.7-94.7
Share Price -19.9% -12.1% 69.5% -14.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Return on Equity % 3.1-6.4-18.1-13.8-57.1-41.1-17.6-19.7-28.9-194.2256.8
Op. Profit Mgn % 36.935.232.335.326.349.46.114.2-4.25.4
Net Profit Mgn % 3.6-3.1-10.7-11.4-39-31.5-12-12.2-8.5-23-18.5
Debt to Equity
Working Cap Days 3944234985616431,1251,1551,4581,3261,2741,101
Cash Conv. Cycle 89105153243336592678860700725468

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 256.80%

Sales growth is good in last 4 quarters at 14.10%

Sales growth has been subdued in last 3 years -8.59%

Debt to equity has increased versus last 3 years average to 220.99

Latest Financials - Jaiprakash Associates Ltd.

Standalone Consolidated
TTM EPS (₹) -2.9 -5.5
TTM Sales (₹ Cr.) 3,955 7,263
BVPS (₹.) 21.3 -4.6
Reserves (₹ Cr.) 4,740 -1,621
P/BV 0.34 -1.57
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 6.56 / 12.50
All Time Low / High (₹) 1.05 / 340.00
Market Cap (₹ Cr.) 1,770
Equity (₹ Cr.) 490.9
Face Value (₹) 2
Industry PE 46.7

Management X-Ray of JP Associate :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *20.1420.1420.2420.2420.1420.2120.2120.2120.2120.26
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of JP Associate

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)


Jaiprakash Associates Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of JP Associate on 05-Jun-2023 10:03 is : 7.26.
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 05-Jun-2023 10:03 the market cap of JP Associate stood at ₹ 1,769.8.
The latest PE ratio of JP Associate as of 05-Jun-2023 10:03 is 0.00.
The latest PB ratio of JP Associate as of 05-Jun-2023 10:03 is 0.34
The 52-week high of JP Associate is ₹ 12.50 and the 52-week low is ₹ 6.56.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of JP Associate is ₹ 3,955 ( Cr.) .

About Jaiprakash Associates Ltd

Jaiprakash Associates Ltd. (JAL), the flagship company of the Jaypee Group, was incorporated in 1996. In 2003 JAL was formed due to merger of Jaiprakash Industries (JIL) and Jaiprakash Cement (JCL).

JAL is the engineering and construction arm of the Jaypee group focused on development of river valley and hydro electric projects and a leader in construction of river valley and hydropower projects on turnkey basis for more than four decades. Shri. Jaiprakash Gaur, the founding father of Jaiprakash Associates Limited, after acquiring a Diploma in civil engineering in 1950 from the University of Roorkee, had a stint with government of UP and with steadfast determination to contribute in nation building, branched off on his own, to start as a civil contractor in 1958.

The company is currently executing various projects in hydropower / irrigation / other infrastructure fields and has had the distinction of executing simultaneously 13 hydropower projects spread over six states and the neighbouring country Bhutan for generating 10,290 MW of power. The Jaypee Group undertakes projects involving:-

  • Large quantities of rock excavation (both surface and underground)
  • Controlled earth/rock fill
  • Concrete manufacture and placement (including chilling)
  • Fabrication and erection of penstock liners
  • Hydro-mechanical equipment procurement and erection
  • Steel Structures
  • Expressway Construction
  • Real Estate Development

The projects that have been commissioned or in the advance stages of completion have been undertaken by it either as a successful EPC contractor or as a Non EPC contractor.

Transforming challenges into opportunities has been the hallmark of the Jaypee Group, ever since its inception four decades ago. The group is a diversified infrastructure conglomerate and has a formidable presence in Engineering & Construction along with interests in the power, cement and hospitality. The infrastructure conglomerate has also expanded into real estate & expressways.

The group has been assigned “CR1” grade by ICRA Ltd indicating very “Strong Contract Execution Capacity with best prospects of timely completion of projects without cost overruns etc. for projects with average value of Rs.2500 crores.” It is the only group in India, which pre-qualifies on its own for the bidding of various projects that are awarded in the country.

The group also has secured three BOT contracts in the private hydropower generation sector after the opening up of the doors by the Government of India in 1991 for private sector power generation companies.

The Group is a pioneer in the development of India’s first golf centric real estate. Jaypee Greens -- a world class fully integrated complex consists of an 18 hole Greg Norman Golf Course. Stretching over 450 acres, it also includes residences, commercial spaces, corporate park, entertainment and nature in abundance.

The Group has hosted India’s first ever Formula OneTM Grand Prix on 30th October, 2011. In addition to F1, the track is also expected to host other top-level international motorsports events.

Business area of the company:

Jaiprakash Associates- The engineering and construction wing of the Group is an acknowledged leader in the construction of multi-purpose river valley and hydropower projects. It has had the unique distinction of executing simultaneously 13 hydropower projects spread over 6 states and the neighboring country Bhutan for generating 10,290 MW of power.

The company also has the distinction of executing three out of five hydropower projects contracted on an EPC basis in the country till March 2007. Two of these, 300 MW Chamera - II and 520 MW Omkareshwar, have been completed ahead of schedule.

The 900 MW Baglihar (Stage-I and II) hydroelectric project in Jammu & Kashmir, in the challenging environment of the State with 22 million cubic meters of concrete, has been the largest EPC project executed in the country in hydropower sector, so far.

The group has various working divisions:

  • Civil Engineering
  • Private HydroPower
  • Cement
  • Hospitalitty
  • Integrated Towenship
  • Information Technology
  • Expressway

Other group companies:

  • Jaypee Hotels Limited (JHL)
  • Jaiprakash Hydro-Power Limited (JHPL)
  • Jaiprakash Power Ventures Limited (JPVL)
  • Jaypee Karcham Hydro Corporation Limited (JKHCL)
  • Jaypee Cement Limited (JCL)
  • Jaypee Power Grid Ltd.(JPL)
  • Gujarat Anjan Cement Limited (GACL)
  • Jaypee Infratech Limited (JIL)
  • Jaypee Ganga Infrastructure Corporation Limited (JGICL)
  • JPSK Sports Private Limited (JPSKSPL)
  • Gujarat Jaypee Cement & Infrastructure Limited (GJCIL)
  • Bhilai Jaypee Cement Limited (BJCL)
  • Himalayan Expressway Ltd.
  • Madhya Pradesh Jaypee Minerals Limited (MPJML)



Commissioning of the First RFID Technology based Electronic Toll Collection Plaza and Four Laned Zirakpur-Parwanoo Section of NH-5 from Km. 39.96 to Km. 67.55 in the States of Punjab, Haryana and H.P.

Commissioning of 165 Km long 6 lane Yamuna Expressway Noida to Agra. The largest access controlled concrete paved expressway in the India.

Successful revival of a large fertilizer plant to bring back CHAND CHAAP urea in the market , which was once India's glory in fertilizer sector.

Commissioning of Largest Single location Integrated Balaji Cement Plant in the country having clinkerzation capacity of 3.30 MnTPA & Cement Grinding Capacity of 5 MnTPA.

Acquisition of more than 75 year old Andhra Cement Ltd. with a capacity of 3 MnTPA.

31 Mar 2011 - Jaypee Group forays into edible oil business

15 Jan 2011 - Jaypee Group to invest Rs 33000 crores in Gujarat

01 Nov 2010  Power Trading Application

09 Sep 2010 -Expression of interest for structural designing of high rise residential and commercial towers with pre-cast RCC technology

09 Feb 2010  -Expression of Interest for (i) Drilling Services & Material Supply , (ii) Geo-chemical Survey for Oil & Gas exploration / development of SR-ONN-2004/1 onshore Block in South Rewa Basin, Madya Pradesh,India

10 Dec 2009 -Budawada Limestone Mine, District Krishna, A.P. of Jaiprakash Associates. - Environment Clearance

02 Dec 2009  Jaiprakash Associates Cement Plant in Gujarat

26 Nov 2009  Jaypee Balaji Cement Project - MoEF clearance for Cement Plant alongwith Captive Power Plant

12 Aug 2009  Jaypee Group and L&T sign agreement

31 Jul 2009  Jaiprakash Associates to set up cement plant in Assam

14 Apr 2009  Sachin Tendulkar to Endorse Jaypee Cement

17 Feb 2009  National Awards for Performance in Power

03 July 2008  Yamuna(Erstwhile Taj) Expressway Project

Feb 2008  Jaypee Group dedicates their 6th Cement plant to the nation bringing Haryana on the cement Map.

Feb 2008  Jaypee & SAIL JV

21 Feb 2008  Bokaro Cement Plant:JV between JAL and SAIL

11 Jan 2008  Jaiprakash Power Ventures files DRHP with SEBI

20 Dec 2007  Jaiprakash Associates wins Good Corporate Citizen Award

03 Aug 2007  Jaiprakash Associates ventures into steel making

04 Jun 2007  Jaiprakash Associates on Expansion Spree

Feb 2007    Private Sector Investment in H.P.

23 Feb 2007  Jaypee - Power grid from Joint Venture Company

29 Jun 2006  Vishnu Prayag Hydro Electric Project Commissioned

23 Mar 2006  JHPL signed an MOU with the Power Grid Corporation of India

27 Jan 2006  JAL has been selected by MPSMCL as a JV partner

26 Aug 2005  JAL signed an agreement with Irrigation and CAD Department of Andhra Pradesh

Achievements/ recognition:-

In 2011 Jaypee Rewa Cement Plant (JRP) and Jaype Bela Cement Plant (JBP) in Madhya Pradesh of the Group have been awarded with the coveted Sword of Honour.

National Safety Award.

Corporate Excellence Award, Presented By Dalal Street Journal for Outstanding Performance in the Activity Category.

 Maharashtra Chapter of American Concrete Institute Award, Presented By Maharashtra Chapter of American Concrete Institute for Most Outstanding Concrete Structure in India Arch Cum Gravity Dam Chamera in H.P.

OCCI Export Award, for Maximum Turnover in Overseas Projects

OCCI Award, Presented By Overseas Construction Council of India for Maximum Foreign Exchange repatriated from Overseas Construction Contracts. 


  • Jaiprakash Associates Ltd. has been awarded ISO 9001 : 2000 Quality Certification Accredited by UKAS, RVA, ANAB and NABCB.
  • ISO 2006 : ISO 14001 : 2004     
  • OHSAS 2006 : OHSAS 18001 : 1999     
  • Safety , Health and Environment Policy
  • Year 2005 : CR1 Grading
  • Year 2005 : CT1 Grading
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