Jyothy Labs Ltd
Jyothy Labs Ltd
Consumer GoodsKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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56 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
4- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.8%
- Company has been maintaining a healthy dividend payout of 36.0%
- Company's working capital requirements have reduced from 30.9 days to 14.9 days
Weaknesses
1- The company has delivered a poor sales growth of 9.33% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Jyothy Labs is a nearly debt-free FMCG company with a market cap of ₹6,983 Cr trading at a PE of 21.2x. While it has delivered strong ROE averaging 26% over 10 years, recent performance shows deceleration with TTM sales growth at 4% and TTM profit declining 12%, and the stock has corrected 44% over the past year.
- Company is virtually debt-free, providing financial flexibility and low interest burden in a rising rate environment
- Consistent return on equity with 3-year ROE of 28% and 10-year average ROE of 26%, indicating efficient capital allocation
- PE of 21.2x is relatively modest for an FMCG company compared to sector peers that often trade at 40-60x earnings
- Healthy dividend payout ratio of 36% with a current dividend yield of 1.82%, offering income alongside potential capital appreciation
- Working capital efficiency has improved significantly from 30.9 days to 14.9 days, freeing up cash for growth or shareholder returns
- Compounded profit growth of 16% over 10 years demonstrates long-term earnings compounding ability
- Price-to-book ratio of 4.44x is reasonable for a branded FMCG business with 26% long-term ROE, suggesting the stock is not excessively priced relative to its asset quality
- 5-year compounded sales growth of 9% shows the company has been able to grow revenue through economic cycles including the pandemic period
- Stock has declined 44% over the past 1 year, reflecting significant market concern about near-term fundamentals
- TTM profit has declined 12%, reversing the trend of 14% compounded profit growth seen over 3 years
- TTM sales growth has decelerated sharply to just 4%, well below the 5-year CAGR of 9% and 10-year CAGR of 7%
- ROE has declined from 28% (3-year average) to 22% in the last year, indicating deteriorating profitability or rising equity base without proportional earnings growth
- 5-year stock CAGR of only 2% and 10-year CAGR of just 3% show the company has delivered minimal long-term wealth creation for shareholders
- 5-year compounded sales growth of 9.33% is considered poor for an FMCG company operating in a high-growth consumer market like India
- 3-year stock CAGR of -7% indicates sustained underperformance even before the recent sharp correction
- Market cap of ₹6,983 Cr makes Jyothy Labs a mid-cap FMCG player with limited pricing power compared to larger peers in categories like fabric care and dishwashing
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- PAT decline in FY26 Jun 19
Profit after tax declined to ₹333 crore in FY26 despite revenue growth, signaling margin pressure in the FMCG business.
- Final dividend of ₹3.50/share Jun 19
Board recommended a final dividend of ₹3.50 per share for FY26, with record date June 29 and AGM on July 14, 2026.
- Revenue up 3.5% to ₹2,944 crore Jun 19
Jyothy Labs reported FY26 revenue of ₹2,944 crore, a 3.5% year-on-year increase reflecting steady topline growth.
- Investor meet with ICICI Prudential Jun 25
One-on-one investor meeting scheduled with ICICI Prudential on June 29, 2026. No UPSI to be shared.
- Analyst call on PRIL & Fa brands Jun 15
Analyst call held on June 18, 2026 to discuss updates on PRIL and Fa brand license developments.
- BRSR filed for FY26 Jun 19
Business Responsibility & Sustainability Report for FY26 filed, detailing ESG initiatives and compliance metrics.
- Record date fixed June 29 Jun 11
June 29, 2026 set as record date for FY26 dividend eligibility. 35th AGM scheduled via video conferencing on July 14, 2026.
TL;DR: Jyothy Labs delivered modest 3.5% revenue growth to ₹2,944 crore in FY26 and maintained shareholder returns with a ₹3.50/share dividend. However, PAT declined to ₹333 crore, indicating margin compression that bears watching. The company is actively engaging investors and discussing brand license updates for PRIL and Fa. The trend is stable on the topline but profitability needs to recover for sentiment to turn decisively bullish.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 686 | 732 | 677 | 659 | 741 | 733 | 704 | 666 | 751 | 736 | 740 | 717 | 773 |
| Expenses | 569 | 596 | 558 | 551 | 608 | 595 | 588 | 554 | 627 | 618 | 629 | 621 | 709 |
| Operating Profit | 118 | 135 | 119 | 108 | 134 | 138 | 116 | 112 | 124 | 118 | 111 | 97 | 65 |
| OPM % | 17% | 18% | 18% | 16% | 18% | 19% | 16% | 17% | 17% | 16% | 15% | 13% | 8% |
| Other Income | 17 | 13 | 11 | 13 | 14 | 13 | 14 | 12 | 19 | 17 | 15 | 16 | 18 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 12 | 12 | 13 | 13 | 13 | 14 | 14 | 15 | 15 | 15 | 16 | 16 | 16 |
| PBT | 121 | 135 | 115 | 107 | 132 | 136 | 114 | 108 | 128 | 119 | 109 | 96 | 65 |
| Tax % | 21% | 23% | 21% | 27% | 23% | 23% | 23% | 28% | 24% | 26% | 26% | 29% | 27% |
| Net Profit | 96 | 104 | 91 | 78 | 102 | 105 | 87 | 77 | 97 | 88 | 81 | 68 | 48 |
| EPS in Rs | 2.62 | 2.84 | 2.48 | 2.13 | 2.77 | 2.86 | 2.38 | 2.1 | 2.64 | 2.39 | 2.21 | 1.84 | 1.3 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,438 | 1,542 | 1,632 | 1,626 | 1,769 | 1,665 | 1,885 | 2,193 | 2,482 | 2,754 | 2,844 | 2,944 | 2,966 |
| Expenses | 1,271 | 1,313 | 1,371 | 1,362 | 1,483 | 1,415 | 1,568 | 1,945 | 2,166 | 2,274 | 2,344 | 2,494 | 2,576 |
| Operating Profit | 166 | 229 | 261 | 264 | 286 | 250 | 317 | 248 | 316 | 480 | 500 | 450 | 390 |
| OPM % | 12% | 15% | 16% | 16% | 16% | 15% | 17% | 11% | 13% | 17% | 18% | 15% | 13% |
| Other Income | 63 | 15 | 11 | 43 | 27 | 16 | -4 | 18 | 47 | 54 | 51 | 67 | 66 |
| Interest | 12 | 56 | 51 | 42 | 28 | 25 | 12 | 12 | 13 | 5 | 6 | 5 | 5 |
| Depreciation | 70 | 54 | 55 | 57 | 58 | 76 | 78 | 89 | 50 | 50 | 56 | 61 | 63 |
| PBT | 147 | 133 | 166 | 208 | 228 | 166 | 223 | 166 | 299 | 479 | 490 | 451 | 389 |
| Tax % | 3% | 44% | -22% | 23% | 15% | 5% | 15% | 16% | 20% | 23% | 24% | 26% | — |
| Net Profit | 143 | 75 | 202 | 161 | 193 | 158 | 190 | 139 | 240 | 370 | 371 | 333 | 284 |
| EPS in Rs | 3.94 | 2.06 | 5.56 | 4.42 | 5.26 | 4.29 | 5.18 | 3.78 | 6.52 | 10.07 | 10.11 | 9.07 | 7.74 |
| Div. Payout % | 51% | 122% | 54% | 6% | 57% | 70% | 77% | 66% | 46% | 35% | 35% | 39% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 18 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |
| Reserves | 944 | 454 | 635 | 665 | 817 | 707 | 897 | 696 | 845 | 1,105 | 1,346 | 1,552 |
| Borrowings | 519 | 402 | 451 | 479 | 217 | 221 | 97 | 171 | 47 | 51 | 61 | 52 |
| Other Liabilities | 436 | 460 | 255 | 297 | 341 | 325 | 393 | 448 | 464 | 540 | 580 | 612 |
| Total Liabilities | 1,916 | 1,334 | 1,360 | 1,459 | 1,412 | 1,289 | 1,424 | 1,352 | 1,392 | 1,732 | 2,024 | 2,252 |
| Fixed Assets | 570 | 538 | 542 | 489 | 471 | 484 | 457 | 440 | 435 | 444 | 460 | 504 |
| CWIP | 5 | 8 | 8 | 15 | 14 | 24 | 10 | 8 | 15 | 13 | 22 | 10 |
| Investments | 409 | 205 | 154 | 246 | 242 | 139 | 141 | 6 | 6 | 197 | 456 | 506 |
| Other Assets | 932 | 583 | 656 | 709 | 685 | 642 | 815 | 898 | 936 | 1,077 | 1,085 | 1,232 |
| Total Assets | 1,916 | 1,334 | 1,360 | 1,459 | 1,412 | 1,289 | 1,424 | 1,352 | 1,392 | 1,732 | 2,024 | 2,252 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 158 | 195 | 166 | 251 | 305 | 165 | 408 | 201 | 329 | 458 | 312 | 412 |
| Investing | 0 | 97 | -20 | -81 | 25 | 72 | -149 | -29 | -48 | -344 | -161 | -277 |
| Financing | -54 | -300 | -127 | -149 | -316 | -297 | -196 | -166 | -251 | -135 | -157 | -160 |
| Net Cash Flow | 103 | -7 | 18 | 21 | 13 | -60 | 63 | 6 | 30 | -21 | -7 | -25 |
| Free Cash Flow | 153 | 172 | 110 | 257 | 267 | 126 | 384 | 180 | 317 | 444 | 254 | 346 |
| CFO/OP | 119 | 108 | 75 | 105 | 121 | 81 | 139 | 94 | 122 | 112 | 82 | 105 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 21 | 25 | 35 | 31 | 26 | 17 | 23 | 19 | 26 | 35 | 32 |
| Inventory Days | 87 | 81 | 80 | 79 | 76 | 91 | 101 | 84 | 76 | 73 | 84 | 80 |
| Days Payable | 62 | 69 | 60 | 62 | 66 | 52 | 69 | 67 | 55 | 72 | 75 | 74 |
| Cash Conversion Cycle | 38 | 33 | 46 | 52 | 40 | 65 | 48 | 40 | 41 | 28 | 45 | 38 |
| Working Capital Days | -33 | -108 | -77 | -77 | -20 | -9 | 9 | -3 | 12 | 39 | 39 | 15 |
| ROCE % | 11% | 16% | 22% | 20% | 23% | 19% | 26% | 18% | 31% | 44% | 37% | 29% |
Documents
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Company Information
Jyothy Labs Limited was founded in 1983 by Mr. M. P. Ramachandran in Thrissur, Kerala. JLL is renowned brand in the domestic FMCG industry.It has a diversified product portfolio spanning four major categories of fabric care, dishwashing, household insecticides (HI) and personal care and an established market position in the post-wash (under Ujala brand) and the dishwashing segments (under Pril and Exo brands). [1]