JAMNA AUTO 2023-24 Annual Report Analysis

Mon, 19 Aug

JAMNA AUTO 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.

JAMNA AUTO Income Statement Analysis

• Operating income during the year rose 4.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 24.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.5% in FY24 as against 11.3% in FY23.
• Depreciation charges increased by 7.9% and finance costs increased by 50.7% YoY, respectively.
• Other income declined by 50.0% YoY.
• Net profit for the year grew by 22.0% YoY.
• Net profit margins during the year grew from 7.2% in FY23 to 8.5% in FY24.

JAMNA AUTO Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	23,253	24,268	4.4%
Other income	Rs m	118	59	-50.0%
Total Revenues	Rs m	23,371	24,327	4.1%
Gross profit	Rs m	2,621	3,268	24.7%
Depreciation	Rs m	410	442	7.9%
Interest	Rs m	35	52	50.7%
Profit before tax	Rs m	2,294	2,833	23.5%
Tax	Rs m	610	778	27.6%
Profit after tax	Rs m	1,684	2,054	22.0%
Gross profit margin	%	11.3	13.5
Effective tax rate	%	26.6	27.5
Net profit margin	%	7.2	8.5

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JAMNA AUTO Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 131 billion as compared to Rs 3 billion in FY23, thereby witnessing an increase of 4785.4%.
• Current assets rose 2,449% and stood at Rs 133 billion, while fixed assets rose 23% and stood at Rs 7 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 140 billion as against Rs 11 billion during FY23, thereby witnessing a growth of 1,196%.

JAMNA AUTO Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	7,808	8,988	15.1
Current Liabilities	Rs m	2,675	130,687	4,785.4
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	10,803	139,989	1,195.8
Current assets	Rs m	5,222	133,127	2,449.2
Fixed Assets	Rs m	5,581	6,862	22.9
Total Assets	Rs m	10,803	139,989	1,195.8

JAMNA AUTO Cash Flow Statement Analysis

• JAMNA AUTO's cash flow from operating activities (CFO) during FY24 stood at Rs 900 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 81.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 924 million, an improvement of 136% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 224 million from the Rs 285 million net cash flows seen during FY23.

JAMNA AUTO 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	3,738	900	-75.9%
Cash Flow from Investing Activities	Rs m	-881	-1,600	-
Cash Flow from Financing Activities	Rs m	-2,572	924	-
Net Cash Flow	Rs m	285	224	-21.4%

Current Valuations for JAMNA AUTO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.1, an improvement from the EPS of Rs 4.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 127.5, stands at 24.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.7 times, while the price to sales ratio stands at 2.1 times.
• The company's price to cash flow (P/CF) ratio stood at 18.8 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	58.3	60.8
TTM Earnings per share	Rs	4.2	5.1
Diluted earnings per share	Rs	4.2	5.1
Price to Cash Flow	x	18.9	18.8
TTM P/E ratio	x	23.5	24.8
Price / Book Value ratio	x	5.9	5.2
Market Cap	Rs m	45,806	47,029
Dividends per share (Unadj.)	Rs	1.9	2.4

Ratio Analysis for JAMNA AUTO

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY24, from 2.0x 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 deteriorated and stood at 55.5x during FY24, from 67.4x 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 22.9% during FY24, from 21.6% 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 32.1% during FY24, from 29.8% 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 declined and down at 1.5% during FY24, from 15.9% 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	2.0	1.0
Debtors’ Days	Days	96	279
Interest coverage	x	67.4	55.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	15.9	1.5
Return on equity	%	21.6	22.9
Return on capital employed	%	29.8	32.1

To see how JAMNA AUTO has performed over the last 5 years, please visit here.

JAMNA AUTO Share Price Performance

Over the last one year, JAMNA AUTO share price has moved up from Rs 109.0 to Rs 127.5, registering a gain of Rs 18.6 or around 17.0%.

Overall, the S&P BSE SENSEX is up 23.1% over the year.

(To know more, check out historical annual results for JAMNA AUTO and quarterly results for JAMNA AUTO)