JEENA SIKHO 2023-24 Annual Report Analysis

Tue, 6 Aug

JEENA SIKHO 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.

JEENA SIKHO Income Statement Analysis

• Operating income during the year rose 58.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 102.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 28.7% in FY24 as against 22.4% in FY23.
• Depreciation charges increased by 59.3% and finance costs decreased by 54.3% YoY, respectively.
• Other income grew by 148.2% YoY.
• Net profit for the year grew by 106.4% YoY.
• Net profit margins during the year grew from 16.4% in FY23 to 21.3% in FY24.

JEENA SIKHO Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,048	3,244	58.4%
Other income	Rs m	26	64	148.2%
Total Revenues	Rs m	2,073	3,308	59.6%
Gross profit	Rs m	458	930	102.9%
Depreciation	Rs m	32	51	59.3%
Interest	Rs m	9	4	-54.3%
Profit before tax	Rs m	443	939	112.0%
Tax	Rs m	108	247	129.4%
Profit after tax	Rs m	335	692	106.4%
Gross profit margin	%	22.4	28.7
Effective tax rate	%	24.3	26.3
Net profit margin	%	16.4	21.3

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JEENA SIKHO Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 274 million as compared to Rs 246 million in FY23, thereby witnessing an increase of 11.4%.
• Long-term debt down at Rs 3 million as compared to Rs 5 million during FY23, a fall of 40.4%.
• Current assets rose 86% and stood at Rs 1 billion, while fixed assets rose 5% and stood at Rs 766 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 2 billion during FY23, thereby witnessing a growth of 46%.

JEENA SIKHO Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,258	1,922	52.8
Current Liabilities	Rs m	246	274	11.4
Long-term Debt	Rs m	5	3	-40.4
Total Liabilities	Rs m	1,506	2,205	46.4
Current assets	Rs m	775	1,440	85.8
Fixed Assets	Rs m	731	766	4.7
Total Assets	Rs m	1,506	2,205	46.4

JEENA SIKHO Cash Flow Statement Analysis

• JEENA SIKHO's cash flow from operating activities (CFO) during FY24 stood at Rs 367 million, an improvement of 152.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -180 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -34 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 152 million from the Rs 294 million net cash flows seen during FY23.

JEENA SIKHO 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	145	367	152.7%
Cash Flow from Investing Activities	Rs m	-331	-180	-
Cash Flow from Financing Activities	Rs m	480	-34	-
Net Cash Flow	Rs m	294	152	-48.3%

Current Valuations for JEENA SIKHO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 27.8, an improvement from the EPS of Rs 24.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,100.7, stands at 39.5 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 8.4 times.
• The company's price to cash flow (P/CF) ratio stood at 29.9 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	148.3	130.5
TTM Earnings per share	Rs	24.3	27.8
Diluted earnings per share	Rs	13.5	27.8
Price to Cash Flow	x	0.0	29.9
TTM P/E ratio	x	0.0	39.5
Price / Book Value ratio	x	2.5	11.6
Market Cap	Rs m	3,162	22,213
Dividends per share (Unadj.)	Rs	2.0	4.2

Ratio Analysis for JEENA SIKHO

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 5.3x during FY24, from 3.1x 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 217.9x during FY24, from 47.8x 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 36.0% during FY24, from 26.6% 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 49.0% during FY24, from 35.8% 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 improved and stood at 31.6% during FY24, from 22.9% 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	3.1	5.3
Debtors’ Days	Days	393	463
Interest coverage	x	47.8	217.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	22.9	31.6
Return on equity	%	26.6	36.0
Return on capital employed	%	35.8	49.0

To see how JEENA SIKHO has performed over the last 5 years, please visit here.

JEENA SIKHO Share Price Performance

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(To know more, check out historical annual results for JEENA SIKHO and quarterly results for JEENA SIKHO)