DJ MEDIAPRINT & LOGISTICS 2022-23 Annual Report Analysis

Wed, 31 May

DJ MEDIAPRINT & LOGISTICS has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

DJ MEDIAPRINT & LOGISTICS Income Statement Analysis

• Operating income during the year rose 6.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 30.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.1% in FY23 as against 12.4% in FY22.
• Depreciation charges increased by 207.1% and finance costs increased by 15.7% YoY, respectively.
• Other income grew by 22.8% YoY.
• Net profit for the year grew by 10.7% YoY.
• Net profit margins during the year grew from 6.3% in FY22 to 6.6% in FY23.

DJ MEDIAPRINT & LOGISTICS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	473	506	6.8%
Other income	Rs m	1	2	22.8%
Total Revenues	Rs m	475	507	6.8%
Gross profit	Rs m	59	76	30.3%
Depreciation	Rs m	6	19	207.1%
Interest	Rs m	12	14	15.7%
Profit before tax	Rs m	42	46	8.8%
Tax	Rs m	12	13	4.0%
Profit after tax	Rs m	30	33	10.7%
Gross profit margin	%	12.4	15.1
Effective tax rate	%	28.6	27.4
Net profit margin	%	6.3	6.6

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DJ MEDIAPRINT & LOGISTICS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 126 million as compared to Rs 100 million in FY22, thereby witnessing an increase of 26.3%.
• Long-term debt stood at Rs 43 million as compared to Rs 28 million during FY22, a growth of 54.2%.
• Current assets rose 0% and stood at Rs 316 million, while fixed assets rose 77% and stood at Rs 149 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 465 million as against Rs 400 million during FY22, thereby witnessing a growth of 16%.

DJ MEDIAPRINT & LOGISTICS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	253	286	13.2
Current Liabilities	Rs m	100	126	26.3
Long-term Debt	Rs m	28	43	54.2
Total Liabilities	Rs m	400	465	16.4
Current assets	Rs m	315	316	0.2
Fixed Assets	Rs m	84	149	76.8
Total Assets	Rs m	400	465	16.4

DJ MEDIAPRINT & LOGISTICS Cash Flow Statement Analysis

• DJ MEDIAPRINT & LOGISTICS's cash flow from operating activities (CFO) during FY23 stood at Rs 98 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -91 million, an improvement of 126.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -7 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -1 million from the Rs 7 million net cash flows seen during FY22.

DJ MEDIAPRINT & LOGISTICS Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	-93	98	-
Cash Flow from Investing Activities	Rs m	-40	-91	-
Cash Flow from Financing Activities	Rs m	140	-7	-
Net Cash Flow	Rs m	7	-1	-

Current Valuations for DJ MEDIAPRINT & LOGISTICS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.1, an improvement from the EPS of Rs 2.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 172.4, stands at 56.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.5 times, while the price to sales ratio stands at 3.7 times.
• The company's price to cash flow (P/CF) ratio stood at 24.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	43.7	46.7
TTM Earnings per share	Rs	2.8	3.1
Diluted earnings per share	Rs	2.8	3.1
Price to Cash Flow	x	19.0	24.8
TTM P/E ratio	x	22.8	56.1
Price / Book Value ratio	x	6.7	4.5
Market Cap	Rs m	1,703	1,286
Dividends per share (Unadj.)	Rs	0.1	0.2

Ratio Analysis for DJ MEDIAPRINT & LOGISTICS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.5x during FY23, from 3.2x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 4.3x during FY23, from 4.6x during FY22. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 11.6% during FY23, from 11.9% during FY23. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 18.1% during FY23, from 19.2% during FY22. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 10.1% during FY23, from 10.5% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	3.2	2.5
Debtors’ Days	Days	1,255	854
Interest coverage	x	4.6	4.3
Debt to equity ratio	x	0.1	0.2
Return on assets	%	10.5	10.1
Return on equity	%	11.9	11.6
Return on capital employed	%	19.2	18.1

To see how DJ MEDIAPRINT & LOGISTICS has performed over the last 5 years, please visit here.

DJ MEDIAPRINT & LOGISTICS Share Price Performance

Over the last one year, DJ MEDIAPRINT & LOGISTICS share price has moved up from Rs 58.6 to Rs 172.4, registering a gain of Rs 113.8 or around 194.1%.

Overall, the S&P BSE SENSEX is up 15.1% over the year.

(To know more, check out historical annual results for DJ MEDIAPRINT & LOGISTICS and quarterly results for DJ MEDIAPRINT & LOGISTICS)