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BSE: 514034 | NSE: JBFIND | Textile - Manmade Fibres | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that JBF Industries Ltd is a below average quality company.
The key valuation ratios of JBF Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of JBF Industries 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 % ⓘ | 9.4% | 10.3% | 8% | 6% | 2.8% | -17.6% | -5.3% | -0.8% | -47.9% | -129.2% | - |
| Value Creation Index ⓘ | -0.3 | -0.3 | -0.4 | -0.6 | -0.8 | -2.3 | -1.4 | -1.1 | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 4,785 | 4,127 | 3,618 | 3,913 | 3,501 | 2,958 | 2,813 | 2,205 | 3,272 | 1,097 | 613 |
| Sales YoY Gr. | - | -13.8% | -12.3% | 8.2% | -10.5% | -15.5% | -4.9% | -21.6% | 48.4% | -66.5% | - |
| Adj EPS ⓘ | 18.5 | 22.7 | 9.4 | 3.4 | -14.5 | -92.7 | -39.4 | -23.6 | -143 | -98.1 | -40.9 |
| YoY Gr. | - | 22.6% | -58.5% | -63.6% | -522.2% | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 150 | 166 | 190.4 | 194.4 | 179.1 | 86 | 47.2 | 23.5 | -119.5 | -346.5 | -353.1 |
| Adj Net Profit ⓘ | 121 | 149 | 77.2 | 28.1 | -119 | -759 | -323 | -194 | -1,171 | -803 | -335 |
| Cash Flow from Ops. ⓘ | 384 | 287 | 125 | 471 | -418 | 224 | -196 | 103 | 186 | -143 | - |
| Debt/CF from Ops. ⓘ | 3.7 | 6 | 14 | 3.5 | -5.5 | 9.5 | -12.4 | 24.2 | 13.1 | -16.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -15.1% | -20.7% | -26.9% | -66.5% | ||||
| Adj EPS ⓘ | -220.4% | NA | NA | NA | ||||
| BVPSⓘ | -209.8% | -214.1% | -294.4% | NA | ||||
| Share Price | -25.6% | -27.7% | -40.3% | -31.6% | ||||
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 % ⓘ | 11.7 | 14.2 | 5.8 | 1.8 | -7.8 | -69.9 | -59.2 | -66.9 | 298 | 42.1 | 11.7 |
| Op. Profit Mgn % ⓘ | 8.5 | 10.4 | 10.3 | 6.6 | 3.5 | 2.8 | 2.2 | 6.1 | 6.6 | -4.1 | -106.6 |
| Net Profit Mgn % ⓘ | 2.5 | 3.6 | 2.1 | 0.7 | -3.4 | -25.7 | -11.5 | -8.8 | -35.8 | -73.2 | -54.6 |
| Debt to Equity ⓘ | 1.4 | 1.6 | 1.1 | 1 | 1.6 | 3 | 6.3 | 13 | -2.5 | -0.8 | - |
| Working Cap Days ⓘ | 95 | 106 | 151 | 187 | 258 | 283 | 247 | 315 | 157 | 161 | 1,000 |
| Cash Conv. Cycle ⓘ | 23 | 33 | 57 | 38 | 49 | 63 | 43 | 79 | 57 | 79 | -45,920 |
No data to display
Return on Equity has declined versus last 3 years average to 11.70%
Sales growth has been subdued in last 3 years -26.94%
Sales growth is not so good in last 4 quarters at -98.62%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -40.9 | -41.6 |
| TTM Sales (₹ Cr.) | 613 | 8,985 |
| BVPS (₹.) ⓘ | -353.1 | 0 |
| Reserves (₹ Cr.) ⓘ | -2,973 | 1,982 |
| P/BV ⓘ | -0.01 | 0.00 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 2.86 / 6.46 |
| All Time Low / High (₹) | 2.00 / 326.00 |
| Market Cap (₹ Cr.) | 36.2 |
| Equity (₹ Cr.) | 81.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.4 |
| Pledged * | 90.96 | 90.96 | 90.96 | 90.96 | 9.60 | 9.60 | 9.60 | 9.60 | 9.60 | 9.60 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,784.71 | 4,126.88 | 3,617.67 | 3,913.32 | 3,501.47 | 2,958.27 | 2,812.90 | 2,205.45 | 3,272.23 | 1,097.17 |
| Operating Expenses ⓘ | 4,498.78 | 3,711.77 | 3,266.53 | 3,654.93 | 3,384.29 | 2,876.85 | 2,763.63 | 2,071.78 | 3,057.80 | 1,142.69 |
| Manufacturing Costs | 427.42 | 417.42 | 339.68 | 338.61 | 331.14 | 311.13 | 324.90 | 291.54 | 390.52 | 189 |
| Material Costs | 3,799.24 | 3,112.67 | 2,723.55 | 3,121.13 | 2,797.10 | 2,417.87 | 2,261.05 | 1,633.69 | 2,479.02 | 824.73 |
| Employee Cost | 61.77 | 73.77 | 78.53 | 86.40 | 96.77 | 79.38 | 88.36 | 83.20 | 99.36 | 48.69 |
| Other Costs ⓘ | 210.35 | 107.91 | 124.77 | 108.79 | 159.28 | 68.47 | 89.32 | 63.35 | 88.90 | 80.27 |
| Operating Profit ⓘ | 285.93 | 415.11 | 351.14 | 258.39 | 117.18 | 81.42 | 49.27 | 133.67 | 214.43 | -45.52 |
| Operating Profit Margin (%) | 6.0% | 10.1% | 9.7% | 6.6% | 3.3% | 2.8% | 1.8% | 6.1% | 6.6% | -4.1% |
| Other Income ⓘ | 61.87 | 56.43 | 85.92 | 136.42 | 125.80 | 19.13 | 28.97 | 10.88 | 36.82 | 12.35 |
| Interest ⓘ | 169.60 | 174.24 | 240.74 | 242.58 | 310.24 | 253.12 | 248.60 | 243.94 | 250.27 | 235.68 |
| Depreciation ⓘ | 112.22 | 96.76 | 100.56 | 97.10 | 94.85 | 99.46 | 94.48 | 87.78 | 87.10 | 14.20 |
| Exceptional Items ⓘ | -36.71 | 0 | 0 | 0 | 0 | -697.92 | -67.41 | -2.67 | -1,082.85 | -1,503.59 |
| Profit Before Tax ⓘ | 29.27 | 200.54 | 95.76 | 55.13 | -162.11 | -949.95 | -332.25 | -189.84 | -1,168.97 | -1,786.64 |
| Tax ⓘ | 14.28 | 61.10 | 34.03 | 19.50 | -39.33 | -191.86 | -0.16 | 3.69 | 1.50 | 66.82 |
| Profit After Tax | 14.99 | 139.44 | 61.73 | 35.63 | -122.78 | -758.09 | -332.09 | -193.53 | -1,170.47 | -1,853.46 |
| PAT Margin (%) | 0.3% | 3.4% | 1.7% | 0.9% | -3.5% | -25.6% | -11.8% | -8.8% | -35.8% | -168.0% |
| Adjusted EPS (₹) | 1.9 | 20.9 | 7.5 | 4.4 | -15.0 | -92.6 | -40.6 | -23.6 | -143.0 | -226.0 |
| Dividend Payout Ratio (%) | 107% | 10% | 13% | 23% | 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 | 994.87 | 1,102.25 | 1,558.95 | 1,591.73 | 1,466.52 | 703.69 | 386.21 | 192.56 | -978.30 | -2,836.85 |
| Share Capital ⓘ | 80.23 | 80.41 | 81.87 | 81.87 | 81.87 | 81.87 | 81.87 | 81.87 | 81.87 | 81.87 |
| Reserves ⓘ | 914.64 | 1,021.84 | 1,477.08 | 1,509.86 | 1,384.65 | 621.82 | 304.34 | 110.69 | -1,060.17 | -2,918.72 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1,203.74 | 1,529.73 | 1,488.39 | 1,417.58 | 1,992.31 | 1,623.03 | 1,820.21 | 1,812.83 | 1,746.18 | 1,718.62 |
| Long Term Debt | 669.61 | 825.02 | 588.42 | 608.50 | 406.20 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 534.13 | 704.71 | 899.97 | 809.08 | 1,586.11 | 1,623.03 | 1,820.21 | 1,812.83 | 1,746.18 | 1,718.62 |
| Trade Payables | 614.92 | 308.76 | 480.14 | 1,056.37 | 375.55 | 402.94 | 144.09 | 129.03 | 100 | 32.34 |
| Others Liabilities ⓘ | 568.10 | 600.89 | 741.15 | 649.01 | 756.23 | 1,029.49 | 1,279.42 | 1,436.32 | 1,721.20 | 1,147.69 |
| Total Liabilities ⓘ | 3,381.63 | 3,541.63 | 4,268.63 | 4,714.69 | 4,590.61 | 3,759.15 | 3,629.93 | 3,570.74 | 2,589.08 | 61.80 |
Fixed Assets | ||||||||||
| Gross Block | 2,182.91 | 2,417.78 | 1,649.35 | 1,719.91 | 1,723.59 | 1,736.89 | 1,749.95 | 1,751.18 | 1,777.15 | 0 |
| Accumulated Depreciation | 695.65 | 792.82 | 100.41 | 197.26 | 291.62 | 390.14 | 484.50 | 572.14 | 658.68 | 0 |
| Net Fixed Assetsⓘ | 1,487.26 | 1,624.96 | 1,548.94 | 1,522.65 | 1,431.97 | 1,346.75 | 1,265.45 | 1,179.04 | 1,118.47 | 0 |
| CWIP ⓘ | 58.25 | 1.41 | 2.60 | 11.61 | 36.44 | 25.60 | 25.92 | 28.77 | 27.15 | 0 |
| Investmentsⓘ | 424.41 | 423.76 | 399.48 | 409.33 | 424.31 | 423.74 | 423.73 | 423.88 | 396.72 | 0 |
| Inventories | 440.53 | 335.29 | 363.34 | 449.66 | 326.48 | 305.16 | 306.31 | 336.05 | 264.25 | 0 |
| Trade Receivables | 612.01 | 564.65 | 904.79 | 893.64 | 852.46 | 318.75 | 281.96 | 310.79 | 361.11 | 8.36 |
| Cash Equivalents | 42.50 | 214.73 | 324.19 | 384.75 | 23.20 | 51.91 | 18.41 | 27.43 | 140.49 | 0.52 |
| Others Assetsⓘ | 316.67 | 376.83 | 725.29 | 1,043.05 | 1,495.75 | 1,287.24 | 1,308.15 | 1,264.78 | 280.89 | 52.92 |
| Total Assets ⓘ | 3,381.63 | 3,541.63 | 4,268.63 | 4,714.69 | 4,590.61 | 3,759.15 | 3,629.93 | 3,570.74 | 2,589.08 | 61.80 |
| 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 ⓘ | 384.31 | 287.16 | 125.28 | 471.21 | -417.95 | 223.69 | -196.10 | 103.31 | 186.17 | -142.84 |
| PBT ⓘ | 29.30 | 200.54 | 95.76 | 55.13 | -162.11 | -949.95 | -333.66 | -189.84 | -1,168.97 | -1,786.64 |
| Adjustment ⓘ | 305.48 | 226.87 | 267.58 | 209.26 | 359.31 | 357.43 | 343.35 | 321.32 | 333.28 | 252.26 |
| Changes in Working Capital ⓘ | 66.47 | -116.85 | -189.52 | 221.48 | -613.43 | 118.51 | -283.29 | -81.71 | -58.64 | -106.33 |
| Tax Paid ⓘ | -16.91 | -23.40 | -48.54 | -14.66 | -1.72 | -0.22 | 10.09 | 50.87 | -2.35 | -5.72 |
| Cash Flow From Investing Activity ⓘ | 131.06 | -223.86 | -242.20 | -90.41 | -376.82 | -4.46 | -1.75 | -4.06 | -9.09 | 6.05 |
| Capex | -132.21 | -151.28 | -22.11 | -90.99 | -21.23 | -4.46 | -2.18 | -4.36 | -8.31 | -2.60 |
| Net Investments | 53.08 | 0.75 | -0.32 | 0 | 0.22 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 210.19 | -73.33 | -219.77 | 0.58 | -355.81 | 0 | 0.43 | 0.30 | -0.78 | 8.65 |
| Cash Flow From Financing Activityⓘ | -532.55 | -63.79 | 125.72 | -376.81 | 783.46 | -224.76 | 195.73 | -90.42 | -56.46 | -3.24 |
| Net Proceeds from Shares ⓘ | 1.15 | 1.04 | 491.23 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -83.37 | 110.81 | -176.51 | -10.58 | -119.33 | -25.29 | 0 | -8.77 | -2.13 | 0 |
| Interest Paid ⓘ | -171.30 | -168.88 | -222.38 | -224.75 | -208.26 | -153.27 | -30.82 | -59.09 | -43.70 | -1.36 |
| Dividend Paid ⓘ | -10.25 | -18.61 | -15.77 | -9.85 | -4.92 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -268.78 | 11.85 | 49.15 | -131.63 | 1,115.97 | -46.20 | 226.55 | -22.56 | -10.63 | -1.88 |
| Net Cash Flow ⓘ | -17.18 | -0.49 | 8.80 | 3.99 | -11.31 | -5.53 | -2.12 | 8.83 | 120.62 | -140.03 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.55 | 13.49 | 4.67 | 2.26 | -8.03 | -69.86 | -60.94 | -66.88 | N/A | N/A |
| ROCE (%) | 7.79 | 14.32 | 10.96 | 9.08 | 4.22 | -21.11 | -2.97 | 1.97 | N/A | N/A |
| Asset Turnover Ratio | 1.53 | 1.31 | 1.01 | 0.95 | 0.77 | 0.71 | 0.76 | 0.61 | 1.06 | 0.83 |
| PAT to CFO Conversion(x) | 25.64 | 2.06 | 2.03 | 13.23 | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 40 | 47 | 68 | 77 | 89 | 72 | 39 | 49 | 37 | 61 |
| Inventory Days | 29 | 31 | 32 | 35 | 40 | 39 | 40 | 53 | 33 | 0 |
| Payable Days | 54 | 54 | 53 | 90 | 93 | 59 | 44 | 31 | 17 | 29 |
JBF Industries conceived as a private limited company in 1982, attained the corporate status by becoming public limited company in the year 1986. The company's growth can be imagined by the fact that its turnover has increased by about 250 times since it became public limited.
JBF is a manufacturer of polyester texturised and twised yarn. With a Partially Oriented Polyester Yarn manufacturing plant starting from PTA, DMT & MEG, today the company is one of the leading names in Polyester business in India.
JBF Industries stands on a gleaming pinnacle of success as an industry leader in Polyester Chips & as one of the top 5 players in the polyester Partially Oriented Yarns (POY) in India.
It was not only the corporate status and turnover, which changed but also the company's product profile engorged with the vibrant polyester industry in India.
Starting its operations as a consumer of POY for texturising yarns to become a leading supplier of POY in India and thereby further backward integrated projects in manufacturing of Polyester Chips, made JBF a dominant force in India.
Despite company's focus on Indian market, it never lost the opportunity to cater to the growing polyester markets globally and made its due presence in global polyester markets. These efforts were duly recognized by the govt of India by awarding company with export house status.
JBF's commitment to the quality and customer is driven by ISO 9001 system of quality standards. JBF has also been accredited with ISO 14001 certificate for environmental management.
Product Range of the company include:
New Plant in Emirates
JBF industries has setup a polyster PET resin Packaging chips plant in association with Ras Al Khaimah Investment Authority in the emirate of Ras AI Khaimah. The cost of the plant is around $210 million.
The plant has a production capacity of 400,000 MT PET grade chips p.a. and 72,000 MT of polyester film p.a. The unit which is also the first Indian unit in the Emirates caters to the US, European Union and GCC countries.
The company chose the region because of the abundance of raw materials and cheap energy. Even though the plant and machinery for the unit will be imported from Europe, US and China.
Plant At Sarigram
JBF has started production at a new state-of-the-art PET facility in India in October 2008. Production facility is located at Sarigam - Gujarat , a western part of India. PET production facility comprises CP and SSP technology with annual productivity of 150KTA. CP technology has a capability of simultaneously producing textile grade and bottle grade amorphous chips. SSP is carried out in two units each having capacity of 250MT / day.
In 2007 JBF Industries Limited had approved the take over of assets of Microsynth Fabrics (India) Ltd. Microsynth Fabrics (India) Ltd is a producer of Polyester POY located at Silvassa, Union Territory of Dadra & Nagar Haveli. The facilities of Microsynth are designed to produce Specialized Yarns such as micro deniers and colored yarn, with technology from NOY – Vallesina, Italy.
Microsynth Fabrics (India) Ltd., has a strong presence in specialty POY production. With this take over, JBF Industries Limited will enhance its share in the Specialty POY market in India and abroad and at the same time it will create avenue for major captive consumption for Specialty Polyester Chips being produced at JBF Industries Limited. The complimentary nature of products of both companies will enhance values within the group as a whole.
Subsidiary
JBF RAK FZ LLC, a subsidiary of the company, has successfully started production of PET grade chips under 1st phase. The company has polymerization capacity of 900 TPD.
Milestones and Awards2008-14
Backward integration by setting up a PTA plant.
Setting up greenfield capacities in Belgium for PET Chips, in Baharain for BOPET Film, in Brazil for Green MEG.
2012 The Company enters into a partnership with The Coca Cola Company to set up production facility for Bio-Glycol (MEG) in Brazil.
The company is ISO 9001:2000 and ISO 14001 Certified Company.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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