Just Dial Limited has ₹5,500 cr. Cash & PE Ratio of 11 — Value Pick or Value Trap? скачать в хорошем качестве

Just Dial Limited has ₹5,500 cr. Cash & PE Ratio of 11 — Value Pick or Value Trap?

Learn on the Go | Episode 10 Some Useful Resources: ▸ ICICI Securities Research Report (Oct 2025): https://images.assettype.com/bloomber... ▸ JM Financial Research Report (Oct 2025): https://investmentguruindia.com/edito...[JMFL]JustDial_RU_14102025.pdf ▸ Article on Substack (Jul 2025): https://mydomicile.substack.com/p/jus... ▸ Join my newsletter at https://shankarnath.substack.com/ Just Dial Limited — a company with ₹5,500 crores in cash, zero debt and a PE ratio of just 11.6 — has seen it's stock fall by almost 40% in the last one year. In this episode of Learn on the Go, I explore the fascinating story of this once hot tech-enabled local search platform which is now a microcap mystery where 85% of its market capitalization is cash. This video breaks down what’s really happening beneath the surface: from slowing revenue growth and murky capital allocation, to the growing influence of its majority shareholder We’ll talk about: ▸ Why Just Dial’s market cap (~₹6,600 Cr) is almost equal to its cash reserves (~₹5,500 Cr) ▸ How “Other Income” is now larger than its operational profit — and what that means ▸ The company’s EV/EBITDA of 2.9 and why it looks too good to be true ▸ Why valuation multiples crashed from 150x to 11x in just three years ▸ Whether Just Dial is a case of massive optionality or management apathy ▸ And finally, what investors can learn from cash-rich, return-poor companies This isn’t a video about whether you should buy or sell Just Dial. It’s about understanding how a company can look cheap on paper but still stay stuck for years. Because sometimes, the story isn’t about growth — it’s about what management does (or doesn’t do) with all that cash ⚠️ This video is for educational purposes only. It should not be treated as investment advice or a stock recommendation. Please do your own research or consult a financial advisor before making any investment decisions and kindly read the disclaimer below in this description 👉 Video Chapters: 00:00 Everyone's Chasing the Lenskart IPO 01:04 Financials of Just Dial Limited 02:42 High Cash and Investment Number in Balance Sheet 04:35 The Curious Case of Just Dial Limited 05:39 Business Overview of Just Dial 06:47 Just Dial's Search Business 07:31 Accrued Revenue vs. Received Revenue (with example) 08:29 Just Dial's Transaction Business 09:11 EV-EBITDA Ratio 11:39 Why has Just Dial's Stock Price Fallen by almost 40% in an year? 11:57 Reason 1: Weakness in Growth 13:51 Reason 2: High Competition & Disruption Fears 14:34 Reason 3: Lack of Clarity on Capital Allocation Policy 15:23 Reliance Retail Ventures Limited buys Majority Stakes in Just Dial Limited 16:01 Management Commentary on Deployment of Just Dial's ₹5,500 crores of Cash 18:00 Scenario 1: Dividends 20:25 Scenario 2: Related Acquisitions 20:54 Scenario 3: Buyback & Delisting 21:42 Just Dial Limited's Board of Directors 23:06 Dividends by Just Dial Limited 23:36 Lessons Learnt from Just Dial Limited Analysis 25:27 Shankar Nath's Viewpoints #justdial #fundamentalanalysis #StockAnalysis #shankarnath Disclaimer: 1. Shankarnath K is registered with SEBI as Individual Research Analyst vide Registration number INH000022093 dated July 28, 2025, pursuant to which he provides Research Analyst services to his clients. 2. Any matter displayed in this content are purely for Knowledge purpose and shall not be treated as an advice or opinion of any kind. Neither Shankarnath K nor the marketing agents related to him shall be held liable/responsible in any manner whatsoever for any losses the viewers may incur due to acting upon this content. 3. Investment in securities market is subject to market risks. Read all the related documents carefully before investing. 4. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. 5. Any opinion on a specific position, such suggestion/view under any circumstances shall not be considered as an advice. I am not liable for any losses whatsoever the client may incur in accepting this opinion. 6. Shankarnath K does not make any representation, warranty or guarantee as to the accuracy, completeness or timeliness of the information (including news, prices, statistics, analysis and the like) provided through this platform. In no event shall I be liable to any person for any decision made or action taken in reliance upon the information provided by me. 7. The securities quoted are for illustration only and are not recommendatory. 8. Some of the links I have posted in the video, the description, the comments and other related resources might be affiliate links