1. At a Glance
Jolly Plastic is that company where even the name sounds like a joke investors didn’t get. Trading at a P/E of 6,097 with ROE of 0.29%, it’s basically a financial black hole with a colourful wrapper. Sales falling 60% over five years, but hey—stock’s at ₹183. Bollywood scripts have more logic.
2. Introduction with Hook
Picture this: a plastic toy car with a Ferrari price tag. That’s Jolly Plastic. It’s in everything—electronics, jewellery, loans, trading—basically, the startup that never stops pivoting. Two spicy stats:
- Sales down 60% in 5 years.
- Promoter holding: 0.04% (less faith than your neighbor’s WhatsApp tips).
This isn’t diversification; this is corporate midlife crisis.
3. Business Model (WTF Do They Even Do?)
They do trading, investments, unsecured loans, corporate loans, and random third-party product distribution. Basically, they’ll sell you a toaster today, give you a loan tomorrow, and ask for an IPO day after. It’s less of a business model and more of a “throw spaghetti at the wall and see what sticks.”
4. Financials Overview
- FY25 Sales: ₹0.17 Cr (yes, lakhs-level revenue)
- Net Profit: ₹0.02 Cr (coffee money)
- OPM: -247% (burns cash like incense)
- Market Cap: ₹122 Cr (valuation fairy working overtime)
Margins are negative, profits negligible, but the P/E is in another galaxy.
5. Valuation
- P/E: 6,097 (world record vibes)
- CMP/BV: 17.7x
Fair Value Range using any sane model? Around ₹5–₹20. At ₹183, you’re paying Ferrari prices for a bicycle missing its wheels.
6. What’s Cooking – News, Triggers, Drama
- Board approved name change to Jolly Services Ltd (because “plastic” wasn’t absurd enough).
- Modified audit opinion due to “software limitations” (translation: numbers don’t add up).
- No dividends ever.
- Stock still trades like it’s the next HDFC.
Drama level: Netflix-worthy.
7. Balance Sheet
| Particulars | FY24 | FY25 |
|---|---|---|
| Assets | ₹6.9 Cr | ₹6.9 Cr |
| Liabilities | ₹0.0 Cr | ₹0.0 Cr |
| Borrowings | ₹0.0 Cr | ₹0.0 Cr |
| Net Worth | ₹6.9 Cr | ₹6.9 Cr |
Key point: No debt, but also no business.
8. Cash Flow – Sab Number Game Hai
| Particulars | FY23 | FY24 | FY25 |
|---|---|---|---|
| Operating CF | ₹-0.33 Cr | ₹0.28 Cr | ₹-0.01 Cr |
| Investing CF | ₹-0.27 Cr | ₹0.00 Cr | ₹3.00 Cr |
| Financing CF | ₹-0.69 Cr | ₹-0.38 Cr | ₹0.00 Cr |
Cash flow is a rollercoaster with more downs than ups.
9. Ratios – Sexy or Stressy?
| Ratio | Value |
|---|---|
| ROE | 0.29% |
| ROCE | 0.29% |
| P/E | 6,097 |
| PAT Margin | Negative to barely positive |
| D/E | 0.0 |
Sexy? Only if you like horror movies.
10. P&L Breakdown – Show Me the Money
| Year | Revenue | EBITDA | PAT |
|---|---|---|---|
| FY23 | ₹0.36 Cr | ₹0.00 Cr | ₹0.01 Cr |
| FY24 | ₹0.17 Cr | -₹0.42 Cr | ₹0.01 Cr |
| FY25 | ₹0.03 Cr | -₹0.04 Cr | ₹0.02 Cr |
Revenue is disappearing faster than your weekend salary.
11. Peer Comparison
| Company | Revenue (₹Cr) | PAT (₹Cr) | P/E |
|---|---|---|---|
| Jio Financial | 2,237 | 1,602 | 123 |
| Chola Financial | 33,196 | 2,174 | 17 |
| JSW Holdings | 248 | 195 | 119 |
| Jolly Plastic | 0.03 | 0.02 | 6,097 |
Looks like the drunkest guest at the finance party.
12. Miscellaneous – Shareholding, Promoters
- Promoter holding: 0.04% (practically zero)
- Public holding: 99.96%
- No institutional investors (they’re smarter than retail here).
13. EduInvesting Verdict™
Jolly Plastic is not a stock; it’s a meme. High P/E, negligible business, no promoter skin, negative growth. A curiosity for your watchlist, not your portfolio. Call it what you want—magic trick or ticking time bomb.
Written by EduInvesting Team | 27 July 2025
Tags: Jolly Plastic Industries, High P/E Stock, Microcap Risk, Edu Style Analysis, Premium Research
