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JAY BEE LAMINATIONS LTD. 2023-24 Annual Report Analysis

Thu, 12 Sep

JAY BEE LAMINATIONS LTD. 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.

JAY BEE LAMINATIONS LTD. Income Statement Analysis

• Operating income during the year rose 22.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 40.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.8% in FY24 as against 9.5% in FY23.
• Depreciation charges increased by 33.6% and finance costs increased by 18.8% YoY, respectively.
• Other income declined by 28.9% YoY.
• Net profit for the year grew by 42.3% YoY.
• Net profit margins during the year grew from 5.5% in FY23 to 6.4% in FY24.

JAY BEE LAMINATIONS LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,467	3,029	22.8%
Other income	Rs m	8	6	-28.9%
Total Revenues	Rs m	2,475	3,035	22.6%
Gross profit	Rs m	233	327	40.0%
Depreciation	Rs m	10	13	33.6%
Interest	Rs m	50	60	18.8%
Profit before tax	Rs m	182	261	43.1%
Tax	Rs m	46	67	45.5%
Profit after tax	Rs m	136	194	42.3%
Gross profit margin	%	9.5	10.8
Effective tax rate	%	25.3	25.7
Net profit margin	%	5.5	6.4

For Investors: Our Big Prediction

JAY BEE LAMINATIONS LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 631 million as compared to Rs 582 million in FY23, thereby witnessing an increase of 8.4%.
• Long-term debt down at Rs 40 million as compared to Rs 65 million during FY23, a fall of 37.8%.
• Current assets rose 18% and stood at Rs 1 billion, while fixed assets rose 45% and stood at Rs 136 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 1 billion as against Rs 1 billion during FY23, thereby witnessing a growth of 20%.

JAY BEE LAMINATIONS LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	435	628	44.5
Current Liabilities	Rs m	582	631	8.4
Long-term Debt	Rs m	65	40	-37.8
Total Liabilities	Rs m	1,083	1,300	20.1
Current assets	Rs m	989	1,165	17.8
Fixed Assets	Rs m	94	136	44.6
Total Assets	Rs m	1,083	1,300	20.1

JAY BEE LAMINATIONS LTD. Cash Flow Statement Analysis

• JAY BEE LAMINATIONS LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 158 million, an improvement of 209.9% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -51 million, an improvement of 375.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -132 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -25 million from the Rs 35 million net cash flows seen during FY23.

JAY BEE LAMINATIONS LTD. 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	51	158	209.9%
Cash Flow from Investing Activities	Rs m	-11	-51	-
Cash Flow from Financing Activities	Rs m	-5	-132	-
Net Cash Flow	Rs m	35	-25	-

Current Valuations for JAY BEE LAMINATIONS LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.8, an decline from the EPS of Rs 453.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 311.0, stands at 36.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 11.2 times, while the price to sales ratio stands at 1.8 times.
• The company's price to cash flow (P/CF) ratio stood at 34.0 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	8,222.2	168.3
TTM Earnings per share	Rs	453.3	10.8
Diluted earnings per share	Rs	6.0	8.6
Price to Cash Flow	x	0.0	34.0
TTM P/E ratio	x	0.0	36.3
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	7,019
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JAY BEE LAMINATIONS LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.8x during FY24, from 1.7x 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 5.4x during FY24, from 4.6x 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 30.8% during FY24, from 31.3% 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 improved and stood at 47.9% during FY24, from 46.5% 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 19.5% during FY24, from 17.2% 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	1.7	1.8
Debtors’ Days	Days	769	653
Interest coverage	x	4.6	5.4
Debt to equity ratio	x	0.1	0.1
Return on assets	%	17.2	19.5
Return on equity	%	31.3	30.8
Return on capital employed	%	46.5	47.9

To see how JAY BEE LAMINATIONS LTD. has performed over the last 5 years, please visit here.

JAY BEE LAMINATIONS LTD. Share Price Performance

Over the last one year, JAY BEE LAMINATIONS LTD. share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Overall, the NIFTY 50 is up 1.7% over the year.

(To know more, check out historical annual results for JAY BEE LAMINATIONS LTD. and quarterly results for JAY BEE LAMINATIONS LTD.)