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Company Profile - JSGCL

KEY DATA
KATS CODE
Reuters Code
*Current Price PKR
Year 2015 High, Low PKR
Market Cap (PKRmn)
Market Cap (USmn)
Share Outstanding (mn)
Free Float (%)

JSGCL
RAJSGCL
44.55
55.49, 37.81
0.00
0.00
38.01
3.80

Chart for: JSGCL for the Year: 2015

Source: PSX Data Portal

Introduction
JS Global Capital Limited ("JS Global) is arguably the
largest broking and investment banking firm in
Pakistan and is backed by reputable domestic and
international shareholders namely JS Group and
Global Investment House, Kuwait ("Global").JS
Global is listed on Pakistan Stock Exchange. JS
Global is rated AA in the long term and A1+ in the
short term by PACRA. JS Global has received
numerous awards in recognition of its position as the
leading Brokerage House and Investment banking
firm
Financial Performance of years under review
Financial performance of JS Global over the years
under review has improved showing an increase of
198% in profit before tax from FY11 to FY15.
Financial position of the company also appears to be
healthy with stable equity footing and more than
enough assets to fulfill its long and short term
obligations.

Economic& Equity market review


During CY15, Pakistan's economy continued to show
signs of improvement. Public sector and Chinese
investors are leading the energy initiatives in the
country. USD 46 billion worth China Pakistan
Economic Corridor (CPEC) can prove to be a game
changer for Pakistans economic growth. After three
consecutive stellar years, the Pakistan Stock Exchange
Limited (PSX) (formerly Karachi Stock Exchange
Limited) took a breather in 2015 as the benchmark
KSE-100 index notched up a modest 2.13% return for
the year (Pak Rupee based), however outperforming
regional average (home currency based) negative
return of ~5%. The relatively unimpressive returns
this year were largely driven by (1) meltdown in
global equities and currencies, (2) heavy-weight oil
stocks as they continued to be rattled by plunging
international oil prices and (3) continuous selling by
foreign investors. However; the fundamentals of the
stock market remain intact and it is trading at a
signicant discount as compared to the regional peers.
Pakistans reclassication into MSCI Emerging
Market Index, progress on ChinaPakistan economic
corridor and macroeconomic growth can lead to
strong returns at the bourse going forward, where any
further correction in the market should be viewed by
long-term investors as an opportunity to hunt value.
JS Global Future outlook.
JS Global Capital Limiteds future also looks bright in
line with improving economic indicators, increasing
foreign investment and improving health of the equity
market. The Management can improve overall
financial performance and position of the company if
they carefully build a strategy to mirror the improving
returns of equity market and economic progress or
even earn alpha returns by outperforming the average
equity market return.
2011
EPS (PKR) 1.78
Book Value 13.15
(PKR/Share)
DPS (PKR) 0.084
P/E (x)
P/BV (x)
Dividend
Yield (%)

2012
5.81
13.15

2013
3.00
13.15

2014
5.65
13.15

2015
5.03
13.15

0.86
-

0.65
-

0.40
-

0.0004
2.21
0.844
16382