JAGRAN PRAKASHAN 2023-24 Annual Report Analysis

Mon, 2 Sep

JAGRAN PRAKASHAN 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.

JAGRAN PRAKASHAN Income Statement Analysis

• Operating income during the year rose 4.2% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 6.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 13.9% in FY24 as against 15.5% in FY23.
• Depreciation charges increased by 4.3% and finance costs decreased by 28.5% YoY, respectively.
• Other income declined by 17.5% YoY.
• Net profit for the year declined by 16.2% YoY.
• Net profit margins during the year declined from 10.6% in FY23 to 8.5% in FY24.

JAGRAN PRAKASHAN Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	18,562	19,339	4.2%
Other income	Rs m	1,116	921	-17.5%
Total Revenues	Rs m	19,678	20,260	3.0%
Gross profit	Rs m	2,869	2,698	-6.0%
Depreciation	Rs m	1,068	1,114	4.3%
Interest	Rs m	386	276	-28.5%
Profit before tax	Rs m	2,532	2,229	-12.0%
Tax	Rs m	564	580	2.8%
Profit after tax	Rs m	1,968	1,649	-16.2%
Gross profit margin	%	15.5	13.9
Effective tax rate	%	22.3	26.0
Net profit margin	%	10.6	8.5

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JAGRAN PRAKASHAN Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 5 billion as compared to Rs 8 billion in FY23, thereby witnessing an decrease of -30.9%.
• Long-term debt down at Rs 932 million as compared to Rs 2 billion during FY23, a fall of 45.2%.
• Current assets fell 3% and stood at Rs 12 billion, while fixed assets fell 4% and stood at Rs 17 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 29 billion as against Rs 30 billion during FY23, thereby witnessing a fall of 3%.

JAGRAN PRAKASHAN Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	17,473	19,282	10.4
Current Liabilities	Rs m	7,541	5,209	-30.9
Long-term Debt	Rs m	1,701	932	-45.2
Total Liabilities	Rs m	29,976	29,020	-3.2
Current assets	Rs m	12,104	11,764	-2.8
Fixed Assets	Rs m	17,854	17,209	-3.6
Total Assets	Rs m	29,976	29,020	-3.2

JAGRAN PRAKASHAN Cash Flow Statement Analysis

• JAGRAN PRAKASHAN's cash flow from operating activities (CFO) during FY24 stood at Rs 3 billion, an improvement of 9.3% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 285 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -3 billion, an improvement of 41% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 182 million from the Rs 37 million net cash flows seen during FY23.

JAGRAN PRAKASHAN 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	2,715	2,969	9.3%
Cash Flow from Investing Activities	Rs m	2,491	285	-88.6%
Cash Flow from Financing Activities	Rs m	-5,169	-3,072	-
Net Cash Flow	Rs m	37	182	393.2%

Current Valuations for JAGRAN PRAKASHAN

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.6, an decline from the EPS of Rs 9.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 97.4, stands at 13.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 7.7 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	85.3	88.9
TTM Earnings per share	Rs	9.0	7.6
Diluted earnings per share	Rs	9.0	7.6
Price to Cash Flow	x	5.2	7.7
TTM P/E ratio	x	8.0	13.1
Price / Book Value ratio	x	0.8	1.1
Market Cap	Rs m	14,311	21,325
Dividends per share (Unadj.)	Rs	4.0	5.0

Ratio Analysis for JAGRAN PRAKASHAN

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.3x during FY24, from 1.6x 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 9.1x during FY24, from 7.6x 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 declined and down at 8.6% during FY24, from 11.3% 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 declined and down at 12.4% during FY24, from 15.2% 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 6.6% during FY24, from 7.9% 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	1.6	2.3
Debtors’ Days	Days	891	919
Interest coverage	x	7.6	9.1
Debt to equity ratio	x	0.1	0.0
Return on assets	%	7.9	6.6
Return on equity	%	11.3	8.6
Return on capital employed	%	15.2	12.4

To see how JAGRAN PRAKASHAN has performed over the last 5 years, please visit here.

JAGRAN PRAKASHAN Share Price Performance

Over the last one year, JAGRAN PRAKASHAN share price has moved down from Rs 107.9 to Rs 97.4, registering a loss of Rs 10.4 or around 9.7%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 19,971.6 (up 0.0%). Over the last one year it has moved up from 14,185.1 to 19,971.6, a gain of 5,786 points (up 40.8%).

Overall, the S&P BSE SENSEX is up 26.9% over the year.

(To know more, check out historical annual results for JAGRAN PRAKASHAN and quarterly results for JAGRAN PRAKASHAN)