Jay Bee Laminations Limited, established in 1988, specialises in the supply of Cold-Rolled Grain-Oriented (CRGO) and Cold-Rolled Non-Grain-Oriented (CRNGO) Silicon Steel Cores. The company offers a wide range of products, including electrical laminations, slotted coils, and assembled cores made from CRGO and CRNGO steel. These products are primarily used in transformers, UPS systems, and inverters within the power industry.
Jay Bee Laminations operates state-of-the-art production facilities spread over 10,878 square meters, equipped with proprietary equipment for cutting, slitting, assembling, and testing CRGO and CRNGO electrical steel cores. The company also maintains an in-house laboratory for rigorous testing of raw materials and finished products and a dedicated tooling department for blade sharpening.
These advanced facilities enable Jay Bee Laminations to efficiently cater to customers manufacturing transformers up to the 220 kV class. The company has a diverse customer base, including manufacturers of power and distribution transformers ranging from 11 kV to 220 kV. As of December 31, 2023, Jay Bee Laminations had utilised 84% of its installed production capacity, reflecting strong operational efficiency.
As of March 31, 2024, the company employed 277 people, underscoring its commitment to maintaining a skilled workforce to support its operations.
Industry Outlook:
- India's electricity demand is projected to reach 334.8 GW by 2029-30, requiring an additional 777.1 GW of generation capacity, with 292.7 GW from solar.
- DISCOMs face significant financial challenges, with a deficit of ₹5,166 billion as of March 2021, exacerbated by poorly targeted subsidies.
Jay Bee Laminations IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding the Working capital requirements of the Company;
- General corporate purposes.
Peer Details
The only listed company Jay Bee Laminations considers as its peers is Vilas Transcore Limited.
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Contact Details of Jay Bee Laminations IPO
- Registered office: 26/36, Upper Ground Floor, East Patel Nagar New Delhi Patel Nagar East, Central Delhi, New Delhi -110008, Delhi, India
- Phone: +91-9870403729
- E-mail: investor@jaybeelaminations.co.in
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 30,290.97 | 24,666.47 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,935.27 | 1,360.00 |
| Current Ratio (x) | 1.85 | 1.70 |
| Net Worth (in ₹ lakh) | 6,281.44 | 4,346.17 |
| Total Debt (in ₹ lakh) | 2,416.15 | 3,143.25 |
| Return on Equity (%) | 36.42% | 37.10% |
| Return on Capital Employed (RoCE) (%) | 39.23% | 34.55% |
| Earnings Per Share (in ₹) | 10.75 | 7.56 |
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Strengths
6Established brand with targeted sales and marketing initiatives.
Strong financial growth with ₹30,290.97 Lakhs revenue in FY2024.
Experienced promoters with over 30 years in CRGO steel.
Long-standing client relationships with 57.27% revenue from top 10 clients.
ISO 9001:2015 certified, robust quality assurance systems implemented.
Low rejection rates, maintaining under 0.72% sales returns in FY2023.
Risks
6Net loss in FY2021 of ₹198.37 Lakhs due to COVID-19.
Potential increased expenses post-listing, impacting profitability and cash flow.
No long-term agreements with customers or raw material suppliers.
Operating risks from equipment malfunctions affecting production continuity.
Dependency on key customers with 57.27% revenue from the top 10.
Challenges in sustaining revenue growth amidst rising operational costs.
