BSE: 507968
JOLLY PLASTIC INDUSTRIES LTD.
A BSE-listed entity classified under Financial Services as an Investment Company, with FY26 revenue from operations of Rs 22.6 lakh and net profit of Rs 1.06 lakh. In June 2026, Bhaum Digital Ventures acquired a 72.61% controlling stake through a preferential allotment of 1.77 crore equity shares at Rs 10 each (nil premium), triggering a full change of control. Total assets stood at Rs 6.89 crore at FY26 year-end. Under the new controlling shareholder, the company has proposed renaming itself to Sahaj Digital Limited, shifting its registered office from Gujarat to West Bengal, and expanding its objects clause to include technology, software, AI, e-commerce, fintech, and e-governance services. The entire board, statutory auditor, CFO, Manager and Company Secretary were replaced in June 2026, with the outgoing statutory auditor having flagged missing audit trail in the accounting software. Employee cost was 46.4% of revenue and other operating expenses 60.7% in FY26, leaving very thin operating margins despite the 35.4% EBITDA margin reported. Q4 FY26 alone showed a loss of Rs 27 lakh. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Investment / financial services activity. Micro-cap shell-like entity undergoing full change of control and business pivot
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 12 |
| Profit before tax | (4) |
| Net profit | (4) |
| EPS (₹) | (1.71) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,36,843 | 64.4 | 1.02 | — | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. | 96,668 | 22.6 | 2.63 | — | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED | 60,306 | 18.9 | 2.15 | — | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 28,220 | 65.5 | 0.97 | — | 1.5 | — | 19.5 | 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 23,640 | 8.9 | 0.70 | — | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 23,316 | 11.8 | 1.81 | — | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 13,373 | 48.0 | 0.48 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,433 | 90.5 | 0.38 | — | 0.4 | — | 14.1 | 84.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| EBITDA margin | (31.3) | 61.6 | 57 of 62 | 8% |
| Market cap | 153 | 283 | 40 of 68 | 42% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Notice published for fourth extraordinary general meeting on 12 November | compliance | minimal | — | — |
| 21 Oct 2026 · EGM seeks approval for independent director appointment | compliance | low | — | — |
| 16 Oct 2026 · EGM on Nov 12, 2026 to confirm appointment of additional director | management changes | medium | — | — |
| 5 Oct 2026 · Quarterly dematerialization compliance certificate filed by RTA | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 till 48 hours after Q2 FY26 results | compliance | minimal | — | — |
| 18 Aug 2026 · Jolly Plastic Industries renames to Sahaj Digital, pivots to tech | general | medium | — | — |
| 18 Aug 2026 · Jolly Plastic renamed Sahaj Digital; main object shifted to tech and digital services | general | medium | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 13 Aug 2026 · Board appoints new independent director; two directors resign | management changes | medium | — | — |
| 13 Aug 2026 · Board appoints new Independent Director, two Directors resign | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.