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Jiwanram Sheoduttrai Industries (NSE:JIWANRAM) Piotroski F-Score : 7 (As of Jun. 05, 2024)


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What is Jiwanram Sheoduttrai Industries Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Jiwanram Sheoduttrai Industries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Jiwanram Sheoduttrai Industries's Piotroski F-Score or its related term are showing as below:

NSE:JIWANRAM' s Piotroski F-Score Range Over the Past 10 Years
Min: 7   Med: 7   Max: 7
Current: 7

During the past 3 years, the highest Piotroski F-Score of Jiwanram Sheoduttrai Industries was 7. The lowest was 7. And the median was 7.


Jiwanram Sheoduttrai Industries Piotroski F-Score Historical Data

The historical data trend for Jiwanram Sheoduttrai Industries's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Jiwanram Sheoduttrai Industries Piotroski F-Score Chart

Jiwanram Sheoduttrai Industries Annual Data
Trend Mar21 Mar22 Mar23
Piotroski F-Score
N/A N/A 7.00

Jiwanram Sheoduttrai Industries Semi-Annual Data
Mar21 Mar22 Mar23
Piotroski F-Score N/A N/A 7.00

Competitive Comparison of Jiwanram Sheoduttrai Industries's Piotroski F-Score

For the Footwear & Accessories subindustry, Jiwanram Sheoduttrai Industries's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Jiwanram Sheoduttrai Industries's Piotroski F-Score Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Jiwanram Sheoduttrai Industries's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Jiwanram Sheoduttrai Industries's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar23) TTM:Last Year (Mar22) TTM:
Net Income was ₹40.3 Mil.
Cash Flow from Operations was ₹14.3 Mil.
Revenue was ₹408.9 Mil.
Gross Profit was ₹96.5 Mil.
Average Total Assets from the begining of this year (Mar22)
to the end of this year (Mar23) was (1137.725 + 1211.236) / 2 = ₹1174.4805 Mil.
Total Assets at the begining of this year (Mar22) was ₹1,137.7 Mil.
Long-Term Debt & Capital Lease Obligation was ₹352.2 Mil.
Total Current Assets was ₹900.8 Mil.
Total Current Liabilities was ₹322.4 Mil.
Net Income was ₹15.0 Mil.

Revenue was ₹327.7 Mil.
Gross Profit was ₹90.1 Mil.
Average Total Assets from the begining of last year (Mar21)
to the end of last year (Mar22) was (1210.417 + 1137.725) / 2 = ₹1174.071 Mil.
Total Assets at the begining of last year (Mar21) was ₹1,210.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹352.7 Mil.
Total Current Assets was ₹803.8 Mil.
Total Current Liabilities was ₹289.0 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Jiwanram Sheoduttrai Industries's current Net Income (TTM) was 40.3. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Jiwanram Sheoduttrai Industries's current Cash Flow from Operations (TTM) was 14.3. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar22)
=40.265/1137.725
=0.0353908

ROA (Last Year)=Net Income/Total Assets (Mar21)
=14.969/1210.417
=0.01236681

Jiwanram Sheoduttrai Industries's return on assets of this year was 0.0353908. Jiwanram Sheoduttrai Industries's return on assets of last year was 0.01236681. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Jiwanram Sheoduttrai Industries's current Net Income (TTM) was 40.3. Jiwanram Sheoduttrai Industries's current Cash Flow from Operations (TTM) was 14.3. ==> 14.3 <= 40.3 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=352.234/1174.4805
=0.29990621

Gearing (Last Year: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=352.725/1174.071
=0.30042902

Jiwanram Sheoduttrai Industries's gearing of this year was 0.29990621. Jiwanram Sheoduttrai Industries's gearing of last year was 0.30042902. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar23)=Total Current Assets/Total Current Liabilities
=900.8/322.38
=2.794218

Current Ratio (Last Year: Mar22)=Total Current Assets/Total Current Liabilities
=803.767/288.983
=2.7813643

Jiwanram Sheoduttrai Industries's current ratio of this year was 2.794218. Jiwanram Sheoduttrai Industries's current ratio of last year was 2.7813643. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Jiwanram Sheoduttrai Industries's number of shares in issue this year was 24.748. Jiwanram Sheoduttrai Industries's number of shares in issue last year was 24.748. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=96.496/408.938
=0.23596731

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=90.08/327.743
=0.2748495

Jiwanram Sheoduttrai Industries's gross margin of this year was 0.23596731. Jiwanram Sheoduttrai Industries's gross margin of last year was 0.2748495. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar22)
=408.938/1137.725
=0.35943484

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar21)
=327.743/1210.417
=0.27076867

Jiwanram Sheoduttrai Industries's asset turnover of this year was 0.35943484. Jiwanram Sheoduttrai Industries's asset turnover of last year was 0.27076867. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Jiwanram Sheoduttrai Industries has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Jiwanram Sheoduttrai Industries  (NSE:JIWANRAM) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Jiwanram Sheoduttrai Industries Piotroski F-Score Related Terms

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Jiwanram Sheoduttrai Industries (NSE:JIWANRAM) Business Description

Traded in Other Exchanges
N/A
Address
Shilpangan, LB 1, Module 301 & 302, Phase -1, Sector III, Kolkata, WB, IND, 700098
Jiwanram Sheoduttrai Industries Ltd is engaged in the manufacturing and export of Industrial Safety Gloves and Garments which provides customized solutions in the field of Industrial Safety. Its Products are well-accepted for their quality which covers all its manufacturing range of Gloves, Industrial Garments and other protective PPEs and solution baskets for Industrial Safety. It is majorly engaged in the business of manufacturing and exporting for various brands.

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