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Jay Bee Laminations Ltd – FY25 Investor Presentation Summary
🏢 Company Overview
- Founded in 1988, Jay Bee Laminations Ltd is a key manufacturer of CRGO silicon steel cores used in high-voltage power transformers.
- Operates three units in Noida and Greater Noida, with a total capacity of 18,060 MTPA, increasing to 23,340 MTPA by FY26.
- Specializes in cut laminations, slit coils, and assembled cores, catering up to the 400 kV class segment.
- Holds PGCIL approval, ensuring capability for national power infrastructure projects.
- Exports to 10+ countries including USA, UAE, and Saudi Arabia.
📄 Certifications & Recognitions
- ISO 9001:2015 Certified
- BIS Certification, now extended to new Unit-III
- Star Export House recognition
- Approved by PGCIL and REPDCL
📊 Key Business Milestones
- Crossed ₹100 Cr revenue in FY14, ₹200 Cr in FY21
- Listed on NSE in September 2024
- 400 kV approval received in March 2025
- Unit-III commercial operations began on July 12, 2025, within 4 months of expansion, certified by BIS
⚙️ Manufacturing Infrastructure
- Unit I: 6,600 MTPA
- Unit II: 11,460 MTPA (expandable)
- Unit III: 1,200 MTPA (new, BIS certified)
- Facilities include precision stamping, tooling division, and testing lab
📦 Product Portfolio
- Cut Laminations: Custom CRGO silicon laminations for energy-efficient transformers
- Slit Coils: Initial step in transformer core manufacturing
- Assembled Cores: High value-add, labor-intensive components
🌐 Client Footprint & Trusted Clientele
- Presence across India: North (54.5%), West (22.3%), South (15.6%), East (7.6%)
- International: USA, UAE, Saudi Arabia, Nepal, Malaysia, etc.
- Approved vendor to PGCIL, REPDCL, PSPCL and major transformer OEMs
🌍 Industry Trends & Market Outlook
- Global Power Transformer Market: $43.4 billion by 2034 @ 6.6% CAGR
- Distribution Transformer Market: $51 billion by 2034 @ 6.56% CAGR
- India Transformer Market: $8.4 billion by 2030 @ 10.84% CAGR
- Growth driven by renewables, smart grids, and T&D infrastructure upgrades
✅ Competitive Advantages
- Very low rejection rate: Only 0.46% in FY25
- Among few PGCIL-approved suppliers for 400 kV
- High client retention and technical capability
- Fast-track expansions with Unit-III operational within 4 months
📊 FY25 Financial Performance
📈 Key Growth Metrics
- Volume Growth: +32% YoY
- Revenue: ₹3,675 million (+21% YoY)
- EBITDA: ₹430 million (Margin: 11.7%, +36% YoY)
- PAT: ₹254 million (+31% YoY)
📉 Financial Ratios
- Debt-Equity Ratio: 0.16x (improved)
- PAT Margin: 6.91%
- Gross Margin: 18.93%
- EPS (FY25): ₹12.31
📊 CAGR Performance (FY22-FY25)
- Revenue CAGR: 38%
- PAT CAGR: 63%
📋 Balance Sheet Highlights
- Total Assets: ₹2,287 million (from ₹1,369 million in FY24)
🌍 Revenue Mix
- Cut Laminations: 79.3%
- Assembled Cores: 15.8%
- Slit Coils: Remaining share
🛍️ Customer Dependency
- Top 10 Clients: 52% (reduced)
- New Clients FY25 Contribution: 12%
🚀 Strategic Achievements
- Unit-III commercial operations started on July 12, 2025, with BIS certification
- Secured ₹17 Cr new orders post-approval; ₹15 Cr more in pipeline
- Targeting NTPC, Torrent Power, and PGCIL (765 kV) approvals
- NABL accreditation expected H1FY26 for CRGO testing lab
🤝 Final Takeaway for Investors
Jay Bee Laminations Ltd is well-positioned for multiyear growth as a reliable transformer component supplier. With:
- Strategic certifications (400 kV PGCIL, BIS)
- Export presence
- Consistent financial performance
- Timely capacity expansion
- Expanding client base
It emerges as a strong multibagger candidate in India’s growing power infrastructure space.
🌐 Related Resources
🚨 Disclaimer
The projections are based on available data and market estimates. Actual results may vary. This is not investment advice. Do your own research.
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Disclaimer: The projections of potential returns are based on current market conditions and company performance. Actual results may vary due to various factors, including market dynamics, economic conditions, and changes in the competitive landscape. Investors should conduct their own research and consult with financial advisors before making investment decisions.
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