Also the value for building can be based on historical costs and the current valuation can be substantially higher for that too. They re-evaluated only the land.
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wdym ? the second url in @myloginid 's post details SEBI investigation and conclusion right ?
https://www.sebi.gov.in/sebi_data/docfiles/17563_t.html
Hi
This second URL is regarding a case from 1995, not 2015-16.
Aadhar
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hi, anyone tracking vanillin acetate prices or has price chart for the same. Can we see any lag effect because of crude drop and how much can it sustain.
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Jyoti resins
Concall summary Q4-2025
Short summary-Jyoti resin
===========
2 main moats
1…Reatiler(stockist)
=90% revenue from stockists,
10% from small distributors.
=Retailers have 2 advantages as compared to competitiors
A…Retailer margins:
8-13% (vs. 4-6% for competition, as per management).
B…Receivables
=Higher receivable days ,perticularly in new states
2…Carpenter loyalty program a significant differentiator
========================
FUTURE GROWTH
1…The opportunity is very vast in our segments as INR 7,500 crore of market and we have achieved just INR 300 crore near number for that.”
2…Signed Mr. Pankaj Tripathi as Brand Ambassador (3-year contract)
=Marketing & branding spend to increase to 7-8% of revenue
=Planned step-up in advertising across TV, print, OOH, and digital from Q1 FY26.
3…New geography
A…Mature states
=Top 5 states: Gujarat , Rajasthan, MP, Maharashtra, Karnataka.
=Growth in FY25 predominantly from these mature states,
B…Entry/expansion focus:
=UP, Delhi, West Bengal, Chhattisgarh, Telangana, Andhra, Punjab.
=Each new state expected to take 3 years to reach breakeven/profitability.
=Mature state defined as INR 25-30
crore revenue, 400-600 retailers
= Strong market share defined as (>25-30%).
4…Capex
A…Ongoing brownfield expansion: 1,500 T/month @ INR 5-7 crore.
=new capacity can support INR 650-700 crore revenue (conservative estimate).
B…Major greenfield expansion (post 2 years).
5…Future growth
=Targeting INR 450-500 crore revenue by FY27 (20-25% CAGR).
NEGATIVES
1…Receivables up from INR 94 crore to INR 126 crore (34% YoY), attributed to high March sales (INR 47 crore).
=Management expects receivables to normalize within 2 months post-March.
Disc…invested
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Building is a depreciable asset, once you have built it, it’s recorded at cost and then loses value as you use it. Industrial buildings are different from residential buildings, it’s mostly the building in which the factory is located. if any company is marking buildings to market and the value is increasing, it’s a clear sign for investors to eject from there. company’s mostly don’t revalue their land as well. Strange that Jyoti felt the need to
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hi,
Anyone else also tracking Jyoti Resins?
Was going through Pidilite’s Q1FY26 concall and they seem to be reasonably bullish on the growth prospects. Understand that Pidilite’s business has lot more high value products in diff categories but was just trying to understand the views of the sector leader.
I am relatively new to the kind of deep research this group does and hence seeking views as I am slightly bullish on this stock.
Also, I see a lot of retailers stocking up Euro products in Bellandur, Bangalore, understand that Karnataka is a mature market for Jyoti resins and they claim it to be as good as Fevicol (maybe due to their reward points).
Disclaimer: Invested
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AVOID AND RUN AWAY
- CG has serious issue.
- Financials have serious issues
Can you pls share the source of your findings mentioned above?
Any sources for this and where to check them?
For FY26, revenue increased by 10.7% while accounts receivable surged by 26.8%. Given that receivable days have stretched to roughly six months, is this a red flag? @Pragnesh
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Not Really, If you check the recivables breakdown, and check how mane are more than 1 or 2 years old on that basis you can decide.
Field feedback on EURO7000 vs Fevicol Hi-per: has anyone seen similar?
I recently spoke with a carpenter about EURO products and got some useful feedback. He said he had used EURO7000 white glue earlier but ran into a bubbling problem. He now prefers Fevicol Hi-per, which is marketed as having an anti-bubble formulation, and he sees EURO as a low-cost product that carries more risk.
I’m aware that bubbling also depends on other factors: moisture (monsoon work, coastal areas), the carpenter’s skill, surface quality of the wood, and the coverage area. Still, even if he is an average carpenter, the fact that switching brands solved the problem is a critical data point.
He also mentioned that Fevicol offers an assurance: if Hi-per is used up to a certain coverage (I think he said around 8ft x 8ft) and bubbling occurs, Fevicol covers the resulting costs. I haven’t verified this, and the terms probably depend on area, moisture conditions, and the grooves provided for air circulation.
My take: EURO7000’s low-cost positioning and strong distribution have clearly worked for market share so far. To go further, I think it needs:
- Product improvement: formula changes and additives that adjust viscosity and reduce bubbling
- Clear positioning on features carpenters care about: anti-bubble performance, faster edge trimming along with water resistance, and termite resistance
- A proper marketing and branding push behind these newly developed features if added.
Question for the forum: Has anyone collected feedback from carpenters, retailers, or distributors on this (bubbling, performance in humid regions, warranty schemes)? If we can gather a few real data points, they could be forwarded to management ahead of the next earnings call.
Note: Improvised using AI
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