Jyoti Resins and Adhesives - Fundamentals - Stock Insights

 Jyoti Resins and Adhesives - Fundamentals - Stock Insights

 

  • Jyoti Resins and Adhesives Ltd is a manufacturer of Synthetic Resin adhesives. The company manufactures various types of Wood adhesives (White Glue) under it's brand name, "EURO 7000". EURO 7000, the brand which was launched in the year 2006.
  • It is also the second largest selling wood adhesive (White Glue) brand in India in the retail segment. Jyoti Resins and Adhesives were established in the year 1994 by Mr. Jagdish Nathalal Patel and he is the Chairman of the company. The company is headquartered at Ahmedabad and the manufacturing facility at Gandhi Nagar, Gujarat.
  • The company services it's products across 14 States in India with 38 Branches and 60 Distributors. It has 400+ Sales Force and 12,000 Active Retailers for selling it's products. The manufacturing plant at Santej, Ahmedabad is currently with a capacity of 24,000 TPA. 

 


 

  • Jyoti Resins and Adhesives were listed in the Bombay Stock Exchange(BSE) in the year 1994-95. The company's main competitive edge is based on it's Low Cost Manufacturing and Asset light model. So that it's overall manpower costs is limited to 16% of Revenues. The selling and distribution expenses were maintained under 12 Percent and the Asset Turnover is at 8 Times.
  • It's products are ranging under the brand - EURO 7000: Synthetic Wood Adhesive, Waterproof Adhesive, High Performance Adhesive, PVC to Wood Adhesive, Cold and Hot Press applications, and Anti Termite, Water Resistant Adhesive.

 




Fundamental Parameters(As on FY2024):

  • Market Cap: Rs. 1,500 Cr (Jan 2025)
  • Debt to Equity: NIL (It's a Debt Free Company)
  • Interest Coverage Ratio(ICR): 1,869 Times
  • TTM PE: 58 Times
  • Book value: Rs.159 per Share (Current Market Price: Rs.1,250 per Share)
  • PEG Ratio: 0.22 Times
  • Promoter Holding: 50.80% (Key Promoters: Jagdish N Patel, Jyotika Jagdish Patel, Priyanka, Utkarshkumar and Subhadra Ramanlal Patel)
  • Pledging on Promoter Holding: NIL
  • Institutional Holding: FII: Less than 1 Percent and DII: 5.79%
  • Debt: NIL (As on Sep, 2024: Lease Liabilities: NIL, Other Liabilities: 115 Cr)
  • Reserves on Balance Sheet: Rs.179 (As on Sep, 2024)
  • Compounded Sales Growth(5 Yrs CAGR): 30%
  • Compounded Profit Growth(5 Yrs CAGR): 98%
  • ROE(Return on Equity) for 5 Yrs: 46%
  • ROCE(Capital Employed) for 5 Yrs: 56.50%
  • Operating Cash Flow(FY24): Positive
  • Free Cash Flow Average(3 Yrs): Rs.6 Cr
  • Non-current Liabilities: Rs.1.50 Cr (FY24)
  • Cash Equivalents: Rs.134 Cr (As on Sep, 2024)

 


 

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