JITF Infra Logistics Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

JITF Infra Logistics Ltd trades at ₹368, in a downtrend and 81 weeks into that stage. That is +11.7% against its own 200-day average. It sits at 77% of a 52-week range of ₹229 to ₹409. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is in a downtrend — week 81 of stage 4, confirmed. At ₹368 it trades +11.7% versus its 200-day average and sits at 77% of its 52-week range (₹229–₹409).

Against the market, two honest reads. Cumulative: over the last 9.4 years the stock moved +815% while the NIFTY 500 moved +203% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 87th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

JITF Infra Logistics Ltd trades at 141.0× P/E, at the pricey end of its own range (87th percentile). Its long-run median P/E is 120.8×, measured across 0.9 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 141.0× is at the pricey end of its own range (87th percentile), against a long-run median of 120.8× measured over 0.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

🚨 Why the multiple sits where it does: over the past year annual EPS moved −191.9% against a +0.6% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

JITF Infra Logistics Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 10 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

The return-on-capital curve is not shown — net worth is negative, so a return on capital is not a meaningful number in any basis. This is a distressed balance sheet, and the stage is read from the growth curves alone.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

50.5/100 — rank 8 of 18 in Logistics · 67% evidence confidence

JITF Infra Logistics Ltd scores 50.5 out of 100 against the 18 companies it is compared with in Logistics, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 16.2 + 11.8 + 10 + 12.5 = 50.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

JITF Infra Logistics Ltd reported ₹898 Cr of revenue in the Mar 26 quarter, +14.1% year on year. That is the 5th straight quarter of year-on-year growth. Over 10 years it has compounded at 20.3% a year. The last full year, FY26, came in at ₹2,808 Cr. The last four reported quarters add to ₹2,808 Cr.

JITF Infra Logistics Ltd reported ₹898 Cr of revenue in the Mar 26 quarter, +14.1% year on year. That is the 5th straight quarter of year-on-year growth. Over 10 years it has compounded at 20.3% a year. The last full year, FY26, came in at ₹2,808 Cr. The last four reported quarters add to ₹2,808 Cr.

FY26 revenue came in at ₹2,808 Cr (+24.0% on the year), capping 10 years at 20.3% compound. The latest quarter (Mar 26) printed ₹898 Cr, +14.1% year on year — the 5th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +24.7% growth against the decade's 20.3% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +24.0% over the last 4 quarters against +2.7%/yr over the last 8 — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 17.7% this quarter (+1.4 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

JITF Infra Logistics Ltd's operating margin is 17.7% in the Mar 26 quarter, +1.4 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 11 fiscal years the operating margin has ranged −9.0% to 20.0%. The current quarter sits inside that band.

JITF Infra Logistics Ltd's operating margin is 17.7% in the Mar 26 quarter, +1.4 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 11 fiscal years the operating margin has ranged −9.0% to 20.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 17.7%, +1.4 pp against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged −9.0%–20.0%, and FY26's 20.0% is the top of that band — a record year.

Why the margin moved: operating margin went +1.4 pp year on year while gross margin went +0.6 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

→ Margins held — did that reach the bottom line? Next: profit −296.5% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

JITF Infra Logistics Ltd posted a net loss of ₹7.8 Cr in the Mar 26 quarter. The full FY26 year was a loss of ₹10.0 Cr. That loss is 0.9% of the quarter's revenue. The same quarter a year earlier earned ₹4.0 Cr. 4 of the last 12 reported quarters were loss-making.

JITF Infra Logistics Ltd posted a net loss of ₹7.8 Cr in the Mar 26 quarter. The full FY26 year was a loss of ₹10.0 Cr. That loss is 0.9% of the quarter's revenue. The same quarter a year earlier earned ₹4.0 Cr. 4 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹−7.8 Cr, −296.5% year on year. On the full year, FY26 printed ₹−10.0 Cr (−106.9%).

🚨 Why profit moved: revenue contributed +14.1% and the margin +1.4 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit −51.3% vs revenue +24.7%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 157% of the last 2 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 2 fiscal years 157% of JITF Infra Logistics Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹199 Cr of operating cash against ₹−10.0 Cr of profit. After ₹217 Cr of capital spending, ₹−18.0 Cr was left as free cash.

FY26: operating cash of ₹199 Cr against reported profit of ₹−10.0 Cr, leaving free cash of ₹−18.0 Cr after ₹217 Cr of capital spending. Across the last 2 fiscal years the conversion rate is 157% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 157%: the cash cycle tightened 19 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 2.4× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹617 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

JITF Infra Logistics Ltd's cash conversion cycle runs 14 days in FY26, down from 33 days in FY21. Capital spending ran ₹617 Cr over the last 3 years. At FY26 sales of ₹2,808 Cr each day of that cycle holds about ₹7.7 Cr, so roughly ₹108 Cr sits inside the business at any moment.

FY26: debtors at 165 days, inventory at 12 days — roughly 0.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 14 days, tighter than FY21's 33.

The full loop: cash goes out to suppliers and production on day 0; stock waits 12 days to sell; customers pay about 165 days after that; and suppliers themselves are paid at 163 days — netting out to the 14-day cycle.

In money terms: at FY26 sales of ₹2,808 Cr, each day of the cycle holds about ₹7.7 Cr — so the 14-day loop keeps roughly ₹108 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹617 Cr over the last 3 fiscal years against ₹257 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹12.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 15% and the ROIC − WACC spread is −14.5 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

JITF Infra Logistics Ltd earns a ROCE of 15% in FY26. That is up from a trough of −5% in FY18. Return on invested capital clears the cost of that capital by −14.5 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −0.4% net margin on 0.56× asset turns.

FY26 ROCE is 15%, recovered from a FY18 trough of −5% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): −0.4% net margin × 0.56× asset turns × −9.81× balance-sheet leverage ≈ 2.2% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −2.5% − 12.0% = a −14.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is −7.69.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

JITF Infra Logistics Ltd's net worth is negative — it owes more than it owns — so a debt-to-equity ratio is not meaningful here. On the annual view that ratio went from −4.05 in FY22 to −8.89 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹3,946 Cr against shareholder equity of ₹−444 Cr — a debt-to-equity of −8.89. On the annual view, debt-to-equity went from −4.05 (FY22) to −8.89 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of JITF Infra Logistics Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.1 points over the same window, to 1.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −0.6 points over 8 quarters to 0.0%; Foreign institutions: +0.1 points over 8 quarters to 1.9%; Promoters: +0.0 points over 8 quarters to 63.0%.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

JITF Infra Logistics Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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