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Jaiprakash Power Ventures Ltd. Stock Analysis

Small Cap
Evaluated by 1697 users | BSE: 532627 | NSE: JPPOWER |
Power Generation/Distribution
Jaiprakash Power Ventures Limited (JPVL) earlier known as Jaiprakash Hydro Power (JHPL), is a part of the Jaypee Group was incorporated in 1994. The company owns and operates the 300 MW Baspa-II Hydroelectric Project at District Kinnaur, Himachal Pradesh , 400 MW Vishnuprayag Hydroelectric...

Analysis of Financial Track Record

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 Power Ventures Ltd. has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 3.66%5.26%4.89%3.94%5.64%5.4%2.3%2.42%2.87%-7.15%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 7371,6162,2532,6933,9443,8842,7923,3813,7323,284
Y-o-Y Gr. Rt.-119.2%39.4%19.6%46.5%-1.5%-28.1%21.1%10.4%-12%
Adjusted EPS (Rs.) 0.821.541.120.060.46-0.8-1.27-0.88-0.69-2.55
Y-o-Y Gr. Rt.-87.8%-27.3%-94.6%666.7%-273.9%NANANANA
Book Value per Share (Rs.) 22.1520.8221.9321.5421.7125.9216.515.6214.999.39
Adjusted Net Profit 17240332919134-236-761-530-416-1,746
Net Op. Cash Flow (Rs. Cr.) 7181,2161,7522,2182,4702,4011,4381,3591,0431,030
Debt to Cash Flow from Ops 17.2412.510.569.529.536.058.228.3310.695.61
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Jaiprakash Power Ventures Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 18.1%-3.6%5.6%-12%
Adjusted EPS -213.4%-240.9%NANA
Book Value per Share -9.1-15.4-17.1-37.4
Share Price -25.7% -19.8% -30.6% 122.6%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 4.037.585.530.32.11-3.37-8.69-5.51-4.54-18.17
Operating Profit Margin (%) 89.0291.7278.0869.0865.6860.6735.1429.9131.6227.03
Net Profit Margin (%) 23.3624.9414.610.713.4-6.07-27.25-15.68-11.15-53.19
Debt to Equity 2.672.782.873.333.691.911.21.211.240.56
Working Capital Days 289279271203171195250185163175
Cash Conversion Cycle -314-533-334-229-177-1171221741
Entity Percentage Holding
Promoters 26.07%
Institutions 39.14%
Non-Institutions 34.79%
Pledged *83.3086.9786.9786.9786.9786.9787.3087.3087.3087.30
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Jaiprakash Power Ventures Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that Jaiprakash Power Ventures Ltd. is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Jaiprakash Power Ventures Ltd.'s performance infers:

Jaiprakash Power Ventures Ltd. earnings have declined by -240.9%, whereas share price has depreciated -19.8% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Jaiprakash Power Ventures Ltd. share prices over the last 10 years. Here is what we found out:

Jaiprakash Power Ventures Ltd. share price has depreciated -26.4% annually over the past ten years.

Jaiprakash Power Ventures Limited (JPVL) earlier known as Jaiprakash Hydro Power (JHPL), is a part of the Jaypee Group was incorporated in 1994. The company owns and operates the 300 MW Baspa-II Hydroelectric Project at District Kinnaur, Himachal Pradesh , 400 MW Vishnuprayag Hydroelectric project, at District Chamoli, Uttarakhand and 1000 MW Karcham-Wangtoo at District Kinnaur, Himachal Pradesh. All the plants are run-of-the-river hydroelectric power projects.

The company is also

Jaiprakash Power Ventures Limited (JPVL) earlier known as Jaiprakash Hydro Power (JHPL), is a part of the Jaypee Group was incorporated in 1994. The company owns and operates the 300 MW Baspa-II Hydroelectric Project at District Kinnaur, Himachal Pradesh , 400 MW Vishnuprayag Hydroelectric project, at District Chamoli, Uttarakhand and 1000 MW Karcham-Wangtoo at District Kinnaur, Himachal Pradesh. All the plants are run-of-the-river hydroelectric power projects.

The company is also implementing the 1320 MW (2X660 MW) super critical technology boiler pit head based Nigrie Thermal Project at District Singrauli in the state of Madhya Pradesh which is expected to commence operations in 2013.

The company has also subscribed 74% of the equity capital of Jaypee Powergrid Limited (JPL), developing a 214 km long power transmission project to evacuate power from the Karcham Wangtoo project, expected to commence operations by December 2011 (the Transmission project).

The company through its subsidiary Jaypee Arunachal Power Limited is implementing two projects in Arunachal Pradesh, the 2700 MW Lower Siang & 500 MW Hirong. JPVL has also extended into implementation Agreement with Government of Meghalaya to set up 270 MW Umngot and 450 MW Kynshi Stage –II hydro power projects.

JPVL has also acquired Bina Power Supply Company Limited (BPSCL) from the Aditya Birla Group and is setting up a 1250 MW coal fired Thermal Power Plant at Bina in the State of Madhya Pradesh.

The company has also acquired Sangam Power Generation Company Ltd. for setting up 3 x 660 MW Karchana Thermal Power Project (Phase – I : 2×660 MW) & Prayagraj Power Generation Company Ltd. for 5 x 660 MW Bara Thermal Power project (Phase – I : 3×660 MW) from UP Power Corporation Ltd. on BOO basis.

JHPL has signed MOU with Power Grid Corporation of India (PGCIL) to form joint venture for laying a 230 km (approx.) long transmission system to evacuate power from the 1000 MW Karcham-Wangtoo Hydro Electric Project in Himachal Pradesh.

2010

400 MW Vishnuprayag Hydropower Project of Jaiprakash Power Ventures Ltd (JPVL) was awarded 1st Prize in the category “Energy & Power’’ by the Essar Steel Infrastructure Excellence Awards 2010 in association with CNBC TV18.
300 MW Baspa – II Hydropower project being awarded with “Silver Shield” by Shri Sushil Kumar Shinde, Union Minister of Power along with Shri Bharatsinh Solanki, Union Minister of State for Power in the prestigious National Awards for Meritorious Performance in Power Sector by the Ministry of Power for 2008-09.

2012
300 MW Baspa – II Hydropower project has been awarded the “Gold Shield for 2009-10” and “Silver Shield for 2010-11” by the Ministry of Power, Government of India in the category of “performance of hydropower stations”.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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