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JYOTI CNC AUTOMATION 2022-23 Annual Report Analysis

Fri, 31 Mar

JYOTI CNC AUTOMATION 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.

JYOTI CNC AUTOMATION Income Statement Analysis

• Operating income during the year rose 24.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 75.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.8% in FY23 as against 9.7% in FY22.
• Depreciation charges decreased by 6.1% and finance costs increased by 9.1% YoY, respectively.
• Other income grew by 553.1% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 6.5% in FY22 to 1.6% in FY23.

JYOTI CNC AUTOMATION Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	7,465	9,293	24.5%
Other income	Rs m	36	233	553.1%
Total Revenues	Rs m	7,501	9,526	27.0%
Gross profit	Rs m	727	1,278	75.9%
Depreciation	Rs m	358	336	-6.1%
Interest	Rs m	822	897	9.1%
Profit before tax	Rs m	-418	279	NA
Tax	Rs m	66	128	95.3%
Profit after tax	Rs m	-483	151	NA
Gross profit margin	%	9.7	13.8
Effective tax rate	%	-15.7	45.9
Net profit margin	%	-6.5	1.6

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JYOTI CNC AUTOMATION Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 13 billion as compared to Rs 11 billion in FY22, thereby witnessing an increase of 18.8%.
• Long-term debt down at Rs 1 billion as compared to Rs 1 billion during FY22, a fall of 9.1%.
• Current assets rose 23% and stood at Rs 12 billion, while fixed assets rose 2% and stood at Rs 3 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 15 billion as against Rs 13 billion during FY22, thereby witnessing a growth of 18%.

JYOTI CNC AUTOMATION Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	412	821	99.4
Current Liabilities	Rs m	10,719	12,729	18.8
Long-term Debt	Rs m	1,403	1,275	-9.1
Total Liabilities	Rs m	12,862	15,154	17.8
Current assets	Rs m	9,569	11,794	23.3
Fixed Assets	Rs m	3,293	3,360	2.0
Total Assets	Rs m	12,862	15,154	17.8

JYOTI CNC AUTOMATION Cash Flow Statement Analysis

• JYOTI CNC AUTOMATION's cash flow from operating activities (CFO) during FY23 stood at Rs 117 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -316 million, an improvement of 1.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 336 million, an improvement of 322% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 137 million from the Rs -77 million net cash flows seen during FY22.

JYOTI CNC AUTOMATION 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	386	117	-69.7%
Cash Flow from Investing Activities	Rs m	-311	-316	-
Cash Flow from Financing Activities	Rs m	-152	336	-
Net Cash Flow	Rs m	-77	137	-

Current Valuations for JYOTI CNC AUTOMATION

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.6, an improvement from the EPS of Rs -16.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 0.0, stands at 0.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.0 times, while the price to sales ratio stands at 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 0.0 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	253.2	282.2
TTM Earnings per share	Rs	-16.4	4.6
Diluted earnings per share	Rs	-2.1	0.7
Price to Cash Flow	x	0.0	0.0
TTM P/E ratio	x	0.0	0.0
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	0
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JYOTI CNC AUTOMATION

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.9x during FY23, from 0.9x 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 improved and stood at 1.3x during FY23, from 0.5x 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 improved and stood at 18.4% during FY23, from -117.4% 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 improved and stood at 56.1% during FY23, from 22.3% 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 improved and stood at 6.9% during FY23, from 2.6% 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	0.9	0.9
Debtors’ Days	Days	98	57
Interest coverage	x	0.5	1.3
Debt to equity ratio	x	3.4	1.6
Return on assets	%	2.6	6.9
Return on equity	%	-117.4	18.4
Return on capital employed	%	22.3	56.1

To see how JYOTI CNC AUTOMATION has performed over the last 5 years, please visit here.

JYOTI CNC AUTOMATION Share Price Performance

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(To know more, check out historical annual results for JYOTI CNC AUTOMATION and quarterly results for JYOTI CNC AUTOMATION)