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JBF Industries Ltd Stock Analysis

Small Cap
Evaluated by 1077 users | BSE: 514034 | NSE: JBFIND |
Textile - Manmade Fibres
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...

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.
JBF Industries 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'20TTM
Return on Capital Employed 13.96%12.16%9.68%9.39%10.34%8%6.04%2.81%-17.62%-5.29%-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 3,5604,3834,5044,7854,1273,6183,9133,5012,9582,8132,673
Y-o-Y Gr. Rt.-23.1%2.8%6.2%-13.8%-12.3%8.2%-10.5%-15.5%-4.9%-
Adjusted EPS (Rs.) 26.6627.7620.4518.5222.79.433.43-14.48-92.68-39.59-12.47
Y-o-Y Gr. Rt.-4.1%-26.3%-9.4%22.6%-58.5%-63.6%-522.2%NANA-
Book Value per Share (Rs.) 129.01125.42131.21150.02166.01190.42194.42179.1385.9546.3520.44
Adjusted Net Profit 19120014912114977.228.1-119-759-324-102
Net Op. Cash Flow (Rs. Cr.) 333284359384287125471-418224-195-
Debt to Cash Flow from Ops 3.365.854.553.676.0114.023.5-5.539.48-12.48-
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.
JBF Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -2.6%-7.4%-10.4%-4.9%
Adjusted EPS -204.5%-211.8%-326%NA
Book Value per Share -10.8-22.5-38-46.1
Share Price -18.1% -35.9% -3.3% 189.6%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20TTM
Return on Equity (%) 22.6220.5114.4211.7414.185.81.78-7.75-69.93-59.85-37.34
Operating Profit Margin (%) 11.819.199.28.4710.4410.336.633.522.772.238.64
Net Profit Margin (%) 5.374.563.32.533.62.130.72-3.39-25.65-11.52-3.82
Debt to Equity 1.181.681.541.421.561.131.041.583.016.4-
Working Capital Days 9410911395106151187258283247-
Cash Conversion Cycle 24182423335738496343-
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Entity Percentage Holding
Promoters 22.91%
Institutions 7.33%
Non-Institutions 69.76%
Pledged *94.2793.3093.2293.2293.2293.2293.2293.0293.0290.96
* Pledged shares as % of Promoter's holding (%)
Past 10 year’s financial track record indicates that that JBF Industries Ltd is a below average quality company.

JBF Industries Ltd's earnings have declined by -211.8%, whereas share price has declined -35.9% CAGR over the past five years, indicating the company’s share price is likely overvalued. However, for specific investment actions please consult your investment advisor.

JBF Industries Ltd share price has declined -15.5% annually (CAGR) over the past ten years.

Past 10 years financial track record analysis by Moneyworks4me indicates that JBF Industries Ltd is a below average long term investment. However, you need to ensure you buy at a right price to earn good returns.

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

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:

  • POLYESTER CHIPS -- Textile Grade, Film Grade
  • PARTIALLY ORIENTED YARN -- Raw White Semi Dull Round, Dope Dyed Black Round, Cationic POY Sd Round, Full Dull POY Sd Round
  • FULLY DRAW YARN -- Semi Dull, Super Bright Trilobal
  • Bottle Grade PET -- ARYAPET

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.


Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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