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Axis Securities Report
Jai Balaji Industries Ltd. managed to turn around its business from loss-making to profit from FY22. In FY22/23, the company managed to earn profit but only at a 1% profit margin.
Its Ebitda margin stood at 4% for FY22/23. However, in 9M FY24, the Ebitda margin and profit after tax margin both improved further to 15% and 13% respectively.
It achieved this by improving operational efficiencies and capacity utilisation, focusing on value-added products and reducing debt.
Valuation: On a trailing 12 months basis, the company is trading at a price/earning of 27 times and enterprise value/Ebitda of 21 times.
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