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Digjam
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Digjam Textiles Limited was incorporated as a company limited by shares on June 17, 2015 under the Companies Act, 2013 as a wholly owned subsidiary of erstwhile Digjam Limited. The Company is engaged in the business of trading in all kinds of textiles and manufacturing of high quality woolen/worsted fabrics at Jamnagar, Gujarat under the brand 'DIGJAM'.
During FY 2016, a Scheme of Amalgamation u/s 391 to 394 of the Companies Act, 1956 and the corresponding provisions of Companies Act, 2013 as applicable, between erstwhile Digjam Limited (the Amalgamating Company) with the Company (the Amalgamated Company) was sanctioned by the Hon'ble High Court of Gujarat vide Order dated February 17, 2016. The said Scheme became effective on March 17, 2016 upon filing of the Certified Copy of Order with Registrar of Companies, Gujarat and pursuant thereto, the entire business and undertaking of the Amalgamating Company stands transferred to and vested in the Company as going concern without any further act, instrument, deed as and from the Appointed Date under the Scheme i.e. close of business on June 30, 2015. The name of the Company was changed to Digjam Limited' w.e.f March 23, 2016 in terms of the Scheme of Amalgamation.
On April 26, 2019, Company went into Corporate Insolvency Resolution Process (CIRP) as per the provisions of the Insolvency and Bankruptcy Code, 2016 and on May 27, 2020, the Hon'ble National Company Law Tribunal, Ahmedabad had approved the Resolution Plan in favor of the Company submitted by M/s Finquest Financial Solutions Private Limited, Mumbai.
As a part of the implementation of Resolution Plan approved by the Hon'ble NCLT under Section 31 of the Insolvency and Bankruptcy Code, 2016, vide its Order dated May 27, 2020, the following changes took place in the share capital of the Company during the year 2020-21: The existing issued, subscribed and Paid-up share capital of the Company was reduced from Rs. 92,64,16,210 consisting of 8,76,41,621 equity shares of Rs. 10/- each and 5,00,000 preference shares of Rs. 100/- each to Rs. 2,00,00,000 consisting of 20,00,000 equity shares of Rs. 10/- each, accordingly the value of issued, subscribed and paid-up share capital of the Company was reduced by Rs. 90,64,16,210 consisting of 8,56,41,621 equity shares of Rs. 10/- each and 5,00,000 Preference Shares of Rs. 100/- each. The reduction of existing issued, subscribed and paid-up share capital of the Company shall be effected by: i) the existing equity shares of Promoters and Promoters Group aggregating to 2,75,27,589 shall stand extinguished. The balance 6,01,14,032 no. of equity shares held by public shall be written down by about 96.67% i.e. by cancellation of 5,81,14,032 equity shares. As such, these shareholders shall continue to hold 20,00,000 equity shares of face value of Rs. 10 each amounting to Rs. 2,00,00,000, on proportionate basis. ii) The existing preference shares of promoters and promoters group aggregating to 5,00,000 number of preference shares of face value Rs. 100 shall stand extinguished. The Board of Directors in their Board meeting held on February 8, 2021 had fixed March 4, 2021 as the Record Date for the purpose of reduction. In continuation to this, the Board of Directors at their meeting held on March 19, 2021 has taken on record the Shareholders whose shares will get extinguished / cancelled pursuant to Order passed by the Hon'ble National Company Law Tribunal, Ahmedabad Bench, in view of Record date.
Pursuant to Resolution Plan, during the year 2020-21, the Company allotted 1,80,00,000 Equity Shares of Rs. 10/- each aggregating to Rs. 18,00,00,000 and 27,00,000 - 7% Non-convertible Cumulative Redeemable Preference Shares of Rs. 100/- each aggregating to Rs. 27,00,00,000 to Finquest Financial Solutions Private Limited. As on March 31, 2021, the total equity paid-up share capital of the Company was 2,000 Lakhs divided into 2,00,00,000 equity shares of Rs. 10 each fully paid-up and total preference paid-up share capital of the Company was 2,700 Lakh divided into 27,00,000 preference shares of Rs. 100 each fully paid up.
Digjam share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Digjam indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Digjam is valued compared to its competitors.
Digjam PE ratio helps investors understand what is the market value of each stock compared to Digjam 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Digjam evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Digjam generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Digjam in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Digjam shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Digjam compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Digjam over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Digjam helps investors get an insight into when they can enter or exit the stock. Key components of Digjam Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Digjam shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Digjam ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Digjam provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Digjam highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Digjam .
The balance sheet presents a snapshot of Digjam ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.