Jaihind Industries Limited

Consumer Cyclical — Textile Manufacturing · BSE

₹46.45+₹0.45 (+0.98%)

DalalBaazaar Score

50 / 100

🟡 Moderate

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: The business is earning a fairly low return on the money invested in it, with both sales and profits growing well. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:58 pm

Understanding the Business

Company site ↗

The 60-second version of Jaihind Industries Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Jaihind Industries Limited engages in the manufacturing, dealing, brokering, agency, distribution, dyeing, printing, and bleaching textile fibers, yarn, cloth, cotton, woolen, worsted materials, silk, garments, and handicrafts in India.

IndustryTextile Manufacturing

SectorConsumer Cyclical

Who are its competitors?

The closest listed comparisons in its industry are MARUTI SUZUKI INDIA LTD., TITAN COMPANY LIMITED, TRENT LTD, AVENUE SUPERMARTS LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -1.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE25.9%

DalalBaazaar Score

50/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Profit CAGR of only 6.7%

Quality vs. Valuation

Company Quality

48/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

48/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

464.5x

3Y Median

2400.0x

40 monthly readings · mean 2682.9x · range 827.5x–5919.0x

Sector Median

69.2x

median of 4 sector peers

🟢Current valuation is approximately 81% below its 3y median of 2400.0x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

⚠️Against its sector it trades 571% above the peer median of 69.2x.

vs. its own history

Cheap

2400.0x median over 40 months · -81%

vs. sector peers

Expensive

69.2x median of 4 peers · +571%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

—

PEG

69.19

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

4 items require attention · 3 high · 1 watch

🔴High leverageFinancial
Debt/Equity of 7.58x — earnings must service borrowings before shareholders see anything.
🔴Free cash flow negative for 4 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴Profit up while operating cash flow fallsFinancial
Reported profit rose but cash generated by operations declined — worth checking whether earnings are being supported by non-cash items or working capital.
🟡Debt is increasingFinancial
Total debt is up 29% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Priced below its own history
The stock trades 81% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Leverage amplifies any setback
Debt/Equity of 7.58x. Interest is payable whether or not the business has a good year.
A premium to the sector to defend
It trades 571% above the peer median. That premium needs a reason that persists, or it closes.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
3 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Free cash flow remains positive✗ -₹0 Cr
Profit that never becomes cash eventually stops being profit.
2ROCE stays above 8%✗ -1.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
3Valuation vs its own median of 2400.0x✓ 464.5x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

6 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✗ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

4 good · 2 neutral · 5 weak

Market Cap

₹29 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

464.5x

Expensive

Expensive — verify against sector peers

P/B Ratio

0.21x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.1

Profitable

Profitable on a per-share basis

ROE

0.1%

Weak

Weak capital efficiency

ROCE

-1.2%

Weak

Low return on total capital employed

Debt/Equity

7.58x

High

High leverage

Revenue Growth (YoY)

719.0%

Healthy

Healthy top-line growth

Profit Growth (YoY)

400.0%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

34.9%

Good

Healthy core-business profitability

Net Margin

19.0%

Good

Strong bottom-line conversion

Current Ratio

7.94

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.01

Defensive

Steadier than the market

52W Range Position

53%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

45.2 / 43.4

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

56.3

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
EBITDA	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—
PAT (Net Profit)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+6.7%
EPS	₹0.02	₹0.02	₹0.01	₹0.03	+14.5%
ROE	0.1%	0.1%	0.1%	0.1%	—
ROCE	-1.2%	-1.1%	-0.8%	-1.2%	—
Total Debt	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	+8.8%
Free Cash Flow	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—

🟢 PAT (Net Profit) has grown at 6.7% a year over 3 years.

🟢 EPS has grown at 14.5% a year over 3 years.

🟡 ROE has held roughly flat at 0.1% over 3 years.

🟡 ROCE has held roughly flat at -1.2% over 3 years.

🔴 Total Debt has grown at 8.8% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹17 Cr

Total Liabilities

₹2 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

69.6%

Peer Comparison

Company	P/E	ROE
MARUTI SUZUKI INDIA LTD.	25.2x	13.4%
TITAN COMPANY LIMITED	68.5x	36.7%
TRENT LTD	87.2x	25.9%
AVENUE SUPERMARTS LIMITED	69.9x	12.7%

Recent News

6 general

Jaihind Industries AGM approves warrants and MD with near-unanimous vote

scanx.trade, 11 Oct

Jaihind Industries Limited Appoints Prasham Kumar Doshi as Managing Director

www.marketscreener.com, 13 Oct

Jaihind Industries to consider preferential equity issue at board meeting

scanx.trade, 08 Sept

Jaihind Industries sends FY26 annual report and AGM notice web link

scanx.trade, 16 Sept

Jaihind Industries Ltd

Equitypandit, 31 Aug

Jaihind Industries incorporates healthcare subsidiary with 78% stake

scanx.trade, 14 May

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

MiddlingBusiness Quality · Profitability · Valuation · Risk

WeakFinancial Health · Growth

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 3 high-severity red flags sit above this conclusion and should be read first.

2 of 3 tripwires tripped — Free cash flow remains positive; ROCE stays above 8% · see Key things to watch ↑