Jai Corp Limited (JAICORPLTD) AI Stock Analysis

• Market Cap: ₹19.79B
• Dividend Yield: 4.22%
• Average Volume (3M): 312.70K
• Price to Earnings (P/E): 11.9
• Beta (1Y): 2.97
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 1,378
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Chemicals - Specialty
• EPS (TTM): 1.52
• Shares Outstanding: 175,504,990
• 10 Day Avg. Volume: 527,980
• 30 Day Avg. Volume: 312,698
• PEG Ratio: 0.89
• Price to Book (P/B): 1.18
• Price to Sales (P/S): 3.20
• P/FCF Ratio: 36.37
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ₹124.00 ▼(-6.31% Downside)

The score is primarily driven by strong financial health (near-zero leverage) and solid recent cash generation, complemented by reasonable valuation and a high dividend yield. These positives are tempered by uneven revenue/margin history and currently weak-to-neutral technical momentum.

Positive Factors

Very Low Leverage

Effectively zero reported debt and near‑zero debt-to-equity materially reduce refinancing and solvency risk, giving management flexibility to fund capex, pay dividends, or pursue M&A without stress from interest obligations. This durability supports stability across cycles.

Strong Cash Generation

Solid operating and free cash flow with high conversion to net income indicates earnings quality and internally-generated funding for growth or shareholder returns. Reliable cash generation enhances long-term financial resilience and reduces reliance on external financing.

Recent Profitability Recovery

Return to positive net income and a double-digit net margin suggest operational improvement or pricing power gains. Sustained profitability improvement would underpin cash flow, support reinvestment and dividends, and signal recovery from prior loss periods if maintained over subsequent quarters.

Negative Factors

Volatile Margins

Large swings in gross margins indicate exposure to input cost swings, pricing pressure, or mix shifts. Persistent margin volatility undermines earnings predictability, complicates capital allocation and forecasting, and can erode long-term returns if the company lacks durable cost or pricing advantages.

Inconsistent Revenue Trends

Uneven top-line performance suggests demand cyclicality, competitive pressures, or reliance on a narrow customer/base. Sustained revenue inconsistency makes long-term margin planning harder, weakens economies of scale, and raises execution risk for strategic investments.

Low Return on Equity

A modest ROE indicates limited efficiency in turning the equity base into profits. Over time, low capital returns constrain shareholder value creation and may reflect structural issues in asset utilization or competitive positioning unless management can improve margins or redeploy capital more productively.

Jai Corp Limited Business Overview & Revenue Model

Company Description

Jai Corp Limited primarily engages in the plastic processing business in India. It operates through five segments: Steel, Plastic Processing, Spinning, Assets Management Activity, and Real Estate. The company offers polypropylene and polyethylene woven products, including discharge, filling, lift loop, liner, and stites type flexible intermediate bulk containers and woven sacks; and fabrics, such as geo-textiles, industrial fabrics, and landscape textiles, as well as open, duffel, rigid standalone loop, and customized bags. It also produces, processes, and trades in steel products comprising cold rolled coils, and galvanized plain and corrugated sheets. In addition, the company produces spun yarn in blends consisting of polyester, polyester/viscose, viscose, acrylic, polyester/acrylic, and polyester/viscose/acrylic for various applications that include apparel, home furnishings, carpets, industrial applications, etc. Further, it engages in the special economic zone development, infrastructure, venture capital, land and buildings development, and investment advisory activities; and provision of masterbatches. The company also exports its products. Jai Corp Limited was incorporated in 1985 and is based in Mumbai, India.

How the Company Makes Money

Jai Corp Limited Financial Statement Overview

Summary

Fundamentals are supported by a very strong balance sheet (effectively zero debt, substantial equity) and positive FY2025 profitability and free cash flow (FCF close to net income). Offsetting this, revenue has been inconsistent and margins are volatile (notably a sharp gross-margin drop in FY2025 and a loss year in FY2023), which reduces earnings stability.

Income Statement

Profitability is positive in the latest year (FY2025 net margin ~12.9%) and improved from FY2024 as net income rose (₹665.5M vs ₹525.1M). However, revenue growth has been inconsistent with multiple down years and only modest growth most recently, and margins show volatility—gross margin fell meaningfully in FY2025 (~20.4% vs ~33.1% in FY2024). The history also includes a loss year (FY2023), which lowers confidence in earnings stability.

Balance Sheet

The balance sheet is a clear strength: reported total debt is effectively zero in recent years and debt-to-equity is ~0, indicating very low leverage and limited refinancing risk. Equity is substantial (~₹14.1B in FY2025) and returns on equity are positive but modest (FY2025 ~4.7%), suggesting the company is conservatively financed but not generating high returns on its capital base.

Cash Flow

Cash generation is solid in the latest period with positive operating cash flow (₹483.4M) and free cash flow (₹455.4M) in FY2025, and free cash flow is close to reported earnings (free cash flow to net income ~0.94), which supports earnings quality. That said, cash flows have shown volatility historically (notably negative operating and free cash flow in FY2021), and free cash flow declined in FY2024 versus the prior year, indicating some variability in conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.28B	5.18B	4.81B	5.94B	7.20B	4.72B
Gross Profit	1.33B	1.05B	1.60B	1.66B	1.45B	1.25B
EBITDA	1.85B	942.70M	860.96M	265.54M	812.28M	1.57B
Net Income	1.57B	665.50M	525.09M	-136.00M	525.73M	925.87M
Balance Sheet
Total Assets	0.00	14.67B	15.53B	15.04B	15.29B	15.58B
Cash, Cash Equivalents and Short-Term Investments	1.72B	1.72B	2.37B	1.83B	736.75M	543.50M
Total Debt	0.00	0.00	0.00	30.90M	12.47M	918.69M
Total Liabilities	-14.24B	426.80M	461.95M	496.70M	526.95M	1.36B
Stockholders Equity	14.24B	14.06B	14.86B	14.32B	14.51B	13.95B
Cash Flow
Free Cash Flow	0.00	455.40M	393.10M	677.20M	875.89M	-135.08M
Operating Cash Flow	0.00	483.40M	409.84M	719.50M	912.06M	-49.51M
Investing Cash Flow	0.00	1.05B	-299.86M	-601.70M	39.73M	1.70B
Financing Cash Flow	0.00	-1.53B	-111.81M	-171.30M	-978.63M	-1.58B

Jai Corp Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JAICORPLTD	70 Outperform	₹19.79B	11.88	―	4.22%	―	―
RAJRATAN	66 Neutral	₹20.65B	29.51	―	0.42%	7.76%	-21.05%
TALBROAUTO	65 Neutral	₹15.56B	16.26	―	0.32%	0.74%	-17.90%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
RANEHOLDIN	60 Neutral	₹18.73B	21.56	―	2.97%	54.99%	-66.73%
RML	57 Neutral	₹20.51B	40.46	―	1.07%	54.17%	1117.99%
LANDMARK	51 Neutral	₹16.06B	76.77	―	0.10%	27.97%	-35.12%

Jai Corp Limited Corporate Events

Jai Corp Files SEBI Regulation 74(5) Compliance Certificate With Exchanges

Jai Corp Limited has submitted to the stock exchanges the requisite certificates issued by its registrar and share transfer agent, KFin Technologies Limited, confirming compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The filing certifies that all details of securities dematerialized or rematerialized during the period have been duly furnished to the depositories and relevant stock exchanges, underscoring the company’s adherence to regulatory norms on share transfer and depository operations and providing reassurance to investors about the integrity and transparency of its shareholding records.

Jai Corp Confirms ED Search at Mumbai Office, Says Financial Impact Not Yet Clear

Jai Corp Limited has disclosed that officials from India’s Enforcement Directorate conducted an unannounced search of its Mumbai corporate office on December 19, 2025, as well as the residences of its Chairman Anand Jain, Vice-Chairman Virendra Jain and Managing Director Gaurav Hain, in connection with a widely reported fraud probe. The company told the stock exchange that the visit was neither planned nor part of any negotiations, confirmed it had informed the bourse within the required timeline under disclosure rules, and said the matter is sub judice and any financial impact cannot presently be assessed, while reiterating that it is fully cooperating with the authorities in the ongoing investigation.

Jai Corp Confirms ED Search, Says Visit Was Unplanned and Discloses Compliance With SEBI Norms

Jai Corp Limited has disclosed that officials from the Enforcement Directorate conducted an unannounced visit to its Mumbai corporate office on December 19, 2025, and also visited the residences of its chairman, vice-chairman and managing director, as reported in a media article that prompted a clarification request from the National Stock Exchange. The company stated that the visit was neither planned nor associated with any ongoing negotiations, confirmed that it informed the stock exchange within the stipulated timeline under SEBI disclosure norms, and noted that any financial impact cannot be determined while the investigation is sub judice, while reiterating its commitment to fully cooperate with the authorities.