JKIL still remains one of the few deep value plays on the India story over the next 2 decades.

PAT will more than double in three years – from 330cr in FY24 to 700cr in FY27.
Conservatively, at 15x 1-yr forward earnings, the stock can easily trade at 10,500cr by FY26-end (Current Mcap 4600cr).
That is, more than double in less than 2 yrs.

Some of best value investors are holding this stock.

Green Portfolio x Salzer Electronics Limited | Green Sharks: Episode 3 | Electric Energy Industry

Your info is correct.
Our sentiments can be shaken in fast moving stocks due to fear of loss of unbooked profits.
However, I consider this stock as low float stock
There are only 312 public shareholders (as per Zerodha Kite) out of which we may assume some are relatives and friends of promoters.
In such low float stocks P/E can go very high.
Some egs PNGS Gargi, Insolation, Exhicon (These stocks now may have high float but during post listing the float was cornered)
Even for main board stocks also low float stocks can get very high P/E as no sellers might be there. (Avenue Supermart post IPO & Varun beverages currently)
According to me our focus should be more on management integrity, results and accounting practices. Untill these are taken care of (with good results) I dont think stock will correct much. time correction cant be ruled out after such a move.
Disc : Invested & may be biased

Thanks Hemant & LarryWink for valuable inputs.
I do Respect your views.
Whether a stock is overvalued or undervalued is subjective- views vary – it is the way in which you look at it.
Adani green for example carries a 12 months trailing P/E of 185. Fully debt ridden with 8 debt to equity ratio. No cash balance is possible after servicing the debts for next 1 decade or so. But for every trade , there is a buyer and there is a seller. only time can say who makes money!

Similarly Energy PSU’s like Oil India and ONGC trades at a P/ E of 7 to 8 with a debt equity ratio of 0.5. So , i am comfortable to buy at this price , though it is trading a higher than its historical average P/ E of 3-4. But when I compare with PVt players , I find there is a further scope of re-rating in PSU with down ward risk remaining limited.

Yes, PSU’s past was not so good and I guess history remains as history.This govt is trying to do something to build the economy as we can see from the results…whether it is railway, defence , or energy basket – Govt’s heavy capex plans and under Atma Nirbhar Bharat theme. PSU’s seem to be showing a good turn around and so also Mr market has given s thumbs up … energy transition being planned all over the world in a big way and in India it is the cash rich PSU’s who are leading the charge.

Having said that , i would keenly watch the election results and policy continuance and take a further call on buy sell or add to positions… For now I am comfortable holding my positions, though I have pruned my % position to reduce overall portfolio holdings.

Regarding the views on crude …I agree … it has been the integral part of our daily life …primary source of energy , Pharma, petro chemicals , fertilisers and the uses are endless.

But when the world has decided to do away with it …substitutes are already there. For example Hydrogen from electrolysis of water by solar wind is not only the primary sources of feed stock for power plants , but it is going to be the primary source of energy for transport sector – Automobiles ,trains and aeroplanes.

Starting from hydrogen and with help of carbon , all chemicals can be manufactured- Hydrogen can be an input in processes to produce chemicals such as methanol, ammonia, ethanol hydrogen peroxide, hydrogen chloride, aniline, cyclohexane, TDI and oxo-alcohols.
And TDI (Toluene diisocyanate) is commonly used as a chemical intermediate in the production of polyurethane foams, elastomers, and coatings; paints; varnishes; wire enamels; sealants; adhesives; and binders. It is also used as a cross-linking agent in the manufacture of nylon polymers.

And starting from Ammonia , you can produce a series of fertilisers such as ures, DAP, Ammonium nitrate, Ammonium sulphate , SSP. etc.

I am sure science is working to make it possible to produce everything you need from Hydrogen. And I guess the science was always there …but now these are being rediscovered and pursued rigorously – the only target is to tacke climate change , reduce carbon foot print

And as per latest development , synthetic e diesel / e-fuel can be manufactured out of hydrogen.