BSE: 544167 | NSE: JNKINDIA | Engineering - Industrial Equipments | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that JNK India Ltd is a average quality company.
The key valuation ratios of JNK India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of JNK India 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'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 53.2% | 83.3% | 58.1% | 48.3% | - |
| Value Creation Index ⓘ | 2.8 | 5.0 | 3.2 | 2.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 122 | 289 | 405 | 477 | 477 |
| Sales YoY Gr. | - | 137.9% | 40.2% | 17.7% | - |
| Adj EPS ⓘ | 3.4 | 7.5 | 9.7 | 12.8 | 11.1 |
| YoY Gr. | - | 118.4% | 29.8% | 31.2% | - |
| BVPS (₹) ⓘ | 7.7 | 15 | 24.4 | 37.7 | 89.3 |
| Adj Net Profit ⓘ | 16.5 | 36 | 46.6 | 61.7 | 62 |
| Cash Flow from Ops. ⓘ | 13.2 | 32.8 | -7.6 | -9.6 | - |
| Debt/CF from Ops. ⓘ | 0.7 | 0.2 | -4.5 | -5.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 57.8% | 17.7% | ||||
| Adj EPS ⓘ | NA | NA | 54.9% | 31.2% | ||||
| BVPSⓘ | NA | NA | 70.1% | 54.4% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 44.7 | 66 | 47.9 | 38.9 | 17.4 |
| Op. Profit Mgn % ⓘ | 20.7 | 18.5 | 17.3 | 21.1 | 14.4 |
| Net Profit Mgn % ⓘ | 13.6 | 12.4 | 11.5 | 12.9 | 13 |
| Debt to Equity ⓘ | 0.2 | 0.1 | 0.3 | 0.3 | 0 |
| Working Cap Days ⓘ | 0 | 197 | 215 | 282 | 205 |
| Cash Conv. Cycle ⓘ | 0 | 87 | 116 | 112 | 115 |
Sales growth is growing at healthy rate in last 3 years 57.76%
Net Profit is growing at healthy rate in last 3 years 54.91%
Sales growth is good in last 4 quarters at 64.47%
Return on Equity has declined versus last 3 years average to 17.40%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.1 | 11.2 |
| TTM Sales (₹ Cr.) | 477 | 480 |
| BVPS (₹.) ⓘ | 89.3 | 89.4 |
| Reserves (₹ Cr.) ⓘ | 487 | 488 |
| P/BV ⓘ | 6.82 | 6.81 |
| PE ⓘ | 55.02 | 54.22 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 550.00 / 895.40 |
| All Time Low / High (₹) | 550.00 / 895.40 |
| Market Cap (₹ Cr.) | 3,397 |
| Equity (₹ Cr.) | 11.2 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 57.5 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 122 | 289 | 405 | 477 |
| Operating Expenses ⓘ | 96 | 236 | 335 | 376 |
| Manufacturing Costs | 12 | 32 | 113 | 73 |
| Material Costs | 25 | 93 | 139 | 225 |
| Employee Cost | 19 | 26 | 38 | 42 |
| Other Costs ⓘ | 40 | 84 | 45 | 37 |
| Operating Profit ⓘ | 25 | 54 | 70 | 101 |
| Operating Profit Margin (%) | 20.7% | 18.5% | 17.3% | 21.1% |
| Other Income ⓘ | 1 | 1 | 4 | 3 |
| Interest ⓘ | 2 | 4 | 5 | 10 |
| Depreciation ⓘ | 1 | 3 | 6 | 6 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 23 | 48 | 63 | 88 |
| Tax ⓘ | 6 | 12 | 16 | 26 |
| Profit After Tax | 16 | 36 | 47 | 62 |
| PAT Margin (%) | 13.6% | 12.4% | 11.5% | 12.9% |
| Adjusted EPS (₹) | 3.4 | 7.5 | 9.7 | 12.8 |
| Dividend Payout Ratio (%) | 4% | 27% | 3% | 2% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 37 | 72 | 117 | 183 | ||||||
| Share Capital ⓘ | 1 | 10 | 10 | 10 | ||||||
| Reserves ⓘ | 36 | 63 | 108 | 173 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 9 | 6 | 33 | 53 | ||||||
| Long Term Debt | 0 | 3 | 3 | 3 | ||||||
| Short Term Debt | 9 | 3 | 30 | 51 | ||||||
| Trade Payables | 24 | 46 | 41 | 115 | ||||||
| Others Liabilities ⓘ | 47 | 143 | 144 | 173 | ||||||
| Total Liabilities ⓘ | 117 | 267 | 335 | 524 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 7 | 26 | 31 | 40 | ||||||
| Accumulated Depreciation | 3 | 6 | 11 | 16 | ||||||
| Net Fixed Assetsⓘ | 3 | 20 | 21 | 23 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 3 | ||||||
| Investmentsⓘ | 0 | 11 | 0 | 0 | ||||||
| Inventories | 5 | 62 | 82 | 83 | ||||||
| Trade Receivables | 54 | 110 | 114 | 213 | ||||||
| Cash Equivalents | 12 | 25 | 46 | 29 | ||||||
| Others Assetsⓘ | 43 | 38 | 71 | 172 | ||||||
| Total Assets ⓘ | 117 | 267 | 335 | 524 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 13 | 33 | -8 | -10 |
| PBT ⓘ | 23 | 48 | 63 | 88 |
| Adjustment ⓘ | 6 | 8 | 14 | 25 |
| Changes in Working Capital ⓘ | -11 | -11 | -69 | -110 |
| Tax Paid ⓘ | -5 | -12 | -15 | -12 |
| Cash Flow From Investing Activity ⓘ | -8 | -25 | -24 | -15 |
| Capex | -4 | -19 | -7 | -8 |
| Net Investments | -5 | -6 | -18 | -5 |
| Others ⓘ | 0 | 1 | 1 | -1 |
| Cash Flow From Financing Activityⓘ | 0 | 6 | 25 | 14 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 2 | 1 | 0 |
| Interest Paid ⓘ | -1 | -2 | -3 | -6 |
| Dividend Paid ⓘ | -1 | -1 | -1 | -1 |
| Others ⓘ | 2 | 6 | 29 | 21 |
| Net Cash Flow ⓘ | 5 | 14 | -7 | -10 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 44.76 | 65.98 | 49.22 | 41.16 | ||||||
| ROCE (%) | 53.18 | 83.25 | 58.14 | 48.27 | ||||||
| Asset Turnover Ratio | 1.04 | 1.51 | 1.35 | 1.11 | ||||||
| PAT to CFO Conversion(x) | 0.81 | 0.92 | -0.17 | -0.16 | Working Capital Days | |||||
| Receivable Days | 162 | 104 | 101 | 125 | ||||||
| Inventory Days | 16 | 43 | 65 | 63 | ||||||
| Payable Days | 349 | 137 | 113 | 126 | ||||||
JNK India Limited was incorporated as ‘JNK India Private Limited’, a private limited company under the Companies Act, 1956, in Thane, Maharashtra pursuant to a certificate of incorporation dated June 14, 2010 granted by the RoC. Pursuant to the conversion of the Company from a private limited company into a public limited company and as approved by its Board on April 12, 2023, and a special resolution passed by its Shareholders at the EGM on April 14, 2023, the name of the Company was changed to “JNK India Limited”, and the RoC issued a fresh certificate of incorporation on May 26, 2023.
The company is in the business of manufacturing the process fired heaters, reformers and cracking furnaces (together, the ‘Heating Equipment’) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. It has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning Heating Equipment and caters to both domestic and overseas market. The Indian heating equipment market is closely competed among seven companies with the Company and Thermax being the most prominent and comparable players. Over the years it has diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.
The company’s business model involves collaboration with its customers, from the initial consultation, specification and design stage to the final installation of the Heating Equipment. Due to its long-standing relationship with customers and its capability to provide customized solutions with a proven track record in product development and execution catering to the diverse needs of its customers, it has a competitive advantage, since there are very few competitors with similar capabilities. It has catered to overseas customers such as a leading engineering, procurement and construction (EPC) company in Europe, a leading oil & gas exploration & Production Company in Oman and a Middle East arm of European EPC Company in oil and gas. Also it has enjoyed repeat orders from certain large domestic customers such as Rashtriya Chemical & Fertilizers, Tata Projects, Numaligarh Refinery and Indian Oil Corporation.
Business area of the company
The company is in the business of manufacturing the process fired heaters, reformers and cracking furnaces (together, the Heating Equipment) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. It has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning Heating Equipment and caters to both domestic and overseas market.
Awards, accreditations and recognitions
History and milestones
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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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