JUPITER WAGONS 2023-24 Annual Report Analysis

Wed, 21 Aug

JUPITER WAGONS has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

JUPITER WAGONS Income Statement Analysis

• Operating income during the year rose 76.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 95.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.4% in FY24 as against 12.1% in FY23.
• Depreciation charges increased by 12.7% and finance costs increased by 41.9% YoY, respectively.
• Other income grew by 382.5% YoY.
• Net profit for the year grew by 174.3% YoY.
• Net profit margins during the year grew from 5.8% in FY23 to 9.1% in FY24.

JUPITER WAGONS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	20,682	36,437	76.2%
Other income	Rs m	51	245	382.5%
Total Revenues	Rs m	20,733	36,683	76.9%
Gross profit	Rs m	2,493	4,865	95.2%
Depreciation	Rs m	250	282	12.7%
Interest	Rs m	289	410	41.9%
Profit before tax	Rs m	2,005	4,419	120.4%
Tax	Rs m	798	1,109	38.9%
Profit after tax	Rs m	1,207	3,310	174.3%
Gross profit margin	%	12.1	13.4
Effective tax rate	%	39.8	25.1
Net profit margin	%	5.8	9.1

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JUPITER WAGONS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 13 billion as compared to Rs 8 billion in FY23, thereby witnessing an increase of 61.5%.
• Long-term debt down at Rs 76 million as compared to Rs 188 million during FY23, a fall of 59.4%.
• Current assets rose 81% and stood at Rs 20 billion, while fixed assets rose 78% and stood at Rs 10 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 29 billion as against Rs 16 billion during FY23, thereby witnessing a growth of 80%.

JUPITER WAGONS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	8,034	16,162	101.2
Current Liabilities	Rs m	7,769	12,546	61.5
Long-term Debt	Rs m	188	76	-59.4
Total Liabilities	Rs m	16,340	29,400	79.9
Current assets	Rs m	10,838	19,631	81.1
Fixed Assets	Rs m	5,502	9,768	77.5
Total Assets	Rs m	16,340	29,400	79.9

JUPITER WAGONS Cash Flow Statement Analysis

• JUPITER WAGONS's cash flow from operating activities (CFO) during FY24 stood at Rs -191 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -5 billion, an improvement of 279.5% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 5 billion, an improvement of 303% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 54 million from the Rs 764 million net cash flows seen during FY23.

JUPITER WAGONS Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	777	-191	-
Cash Flow from Investing Activities	Rs m	-1,224	-4,646	-
Cash Flow from Financing Activities	Rs m	1,212	4,889	303.3%
Net Cash Flow	Rs m	764	54	-93.0%

Current Valuations for JUPITER WAGONS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.0, an improvement from the EPS of Rs 3.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 542.4, stands at 63.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 14.2 times, while the price to sales ratio stands at 6.1 times.
• The company's price to cash flow (P/CF) ratio stood at 30.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	53.4	88.4
TTM Earnings per share	Rs	3.1	8.0
Diluted earnings per share	Rs	2.8	7.8
Price to Cash Flow	x	26.8	30.3
TTM P/E ratio	x	31.7	63.5
Price / Book Value ratio	x	4.1	6.7
Market Cap	Rs m	33,243	108,944
Dividends per share (Unadj.)	Rs	0.5	0.6

Ratio Analysis for JUPITER WAGONS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.6x during FY24, from 1.4x during FY23. 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 11.8x during FY24, from 7.9x during FY23. 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 20.5% during FY24, from 15.0% during FY24. 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 29.7% during FY24, from 27.9% during FY23. 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 12.7% during FY24, from 9.2% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	1.4	1.6
Debtors’ Days	Days	376	492
Interest coverage	x	7.9	11.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	9.2	12.7
Return on equity	%	15.0	20.5
Return on capital employed	%	27.9	29.7

To see how JUPITER WAGONS has performed over the last 5 years, please visit here.

JUPITER WAGONS Share Price Performance

Over the last one year, JUPITER WAGONS share price has moved up from Rs 287.6 to Rs 542.4, registering a gain of Rs 254.8 or around 88.6%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,138.2 (down 1.0%). Over the last one year it has moved up from 4,287.0 to 8,138.2, a gain of 3,851 points (up 89.8%).

Overall, the S&P BSE SENSEX is up 23.8% over the year.

(To know more, check out historical annual results for JUPITER WAGONS and quarterly results for JUPITER WAGONS)