JAY JALARAM TECHNOLOGIES 2023-24 Annual Report Analysis

Wed, 30 Oct

JAY JALARAM TECHNOLOGIES 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 JALARAM TECHNOLOGIES Income Statement Analysis

• Operating income during the year rose 117.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 118.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 2.2% in FY24 as against 2.2% in FY23.
• Depreciation charges increased by 12.7% and finance costs increased by 225.6% YoY, respectively.
• Other income declined by 14.0% YoY.
• Net profit for the year grew by 61.9% YoY.
• Net profit margins during the year declined from 1.0% in FY23 to 0.7% in FY24.

JAY JALARAM TECHNOLOGIES Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,492	5,419	117.4%
Other income	Rs m	10	9	-14.0%
Total Revenues	Rs m	2,502	5,427	116.9%
Gross profit	Rs m	56	122	118.0%
Depreciation	Rs m	10	11	12.7%
Interest	Rs m	20	64	225.6%
Profit before tax	Rs m	36	55	51.7%
Tax	Rs m	11	15	29.2%
Profit after tax	Rs m	25	41	61.9%
Gross profit margin	%	2.2	2.2
Effective tax rate	%	31.0	26.4
Net profit margin	%	1.0	0.7

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JAY JALARAM TECHNOLOGIES Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 807 million as compared to Rs 313 million in FY23, thereby witnessing an increase of 158.0%.
• Long-term debt stood at Rs 122 million as compared to Rs 101 million during FY23, a growth of 20.7%.
• Current assets rose 95% and stood at Rs 1 billion, while fixed assets rose 23% and stood at Rs 112 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 808 million during FY23, thereby witnessing a growth of 87%.

JAY JALARAM TECHNOLOGIES Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	236	275	16.3
Current Liabilities	Rs m	313	807	158.0
Long-term Debt	Rs m	101	122	20.7
Total Liabilities	Rs m	808	1,507	86.6
Current assets	Rs m	717	1,396	94.7
Fixed Assets	Rs m	91	112	22.5
Total Assets	Rs m	808	1,507	86.6

JAY JALARAM TECHNOLOGIES Cash Flow Statement Analysis

• JAY JALARAM TECHNOLOGIES's cash flow from operating activities (CFO) during FY24 stood at Rs -238 million, an improvement of 101.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -22 million, an improvement of 107.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 226 million, an improvement of 23% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -34 million from the Rs 55 million net cash flows seen during FY23.

JAY JALARAM TECHNOLOGIES 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	-118	-238	-
Cash Flow from Investing Activities	Rs m	-11	-22	-
Cash Flow from Financing Activities	Rs m	184	226	22.8%
Net Cash Flow	Rs m	55	-34	-

Current Valuations for JAY JALARAM TECHNOLOGIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.7, an improvement from the EPS of Rs 2.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 503.5, stands at 147.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 21.8 times, while the price to sales ratio stands at 1.0 times.
• The company's price to cash flow (P/CF) ratio stood at 80.6 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	223.9	486.8
TTM Earnings per share	Rs	2.3	3.7
Diluted earnings per share	Rs	2.1	3.4
Price to Cash Flow	x	0.0	80.6
TTM P/E ratio	x	0.0	147.2
Price / Book Value ratio	x	0.0	15.2
Market Cap	Rs m	0	4,163
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JAY JALARAM TECHNOLOGIES

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.7x during FY24, from 2.3x 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 1.9x during FY24, from 2.8x 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 14.8% during FY24, from 10.6% 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 30.1% during FY24, from 16.6% 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 7.0% during FY24, from 5.5% 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	2.3	1.7
Debtors’ Days	Days	45	67
Interest coverage	x	2.8	1.9
Debt to equity ratio	x	0.4	0.4
Return on assets	%	5.5	7.0
Return on equity	%	10.6	14.8
Return on capital employed	%	16.6	30.1

To see how JAY JALARAM TECHNOLOGIES has performed over the last 5 years, please visit here.

JAY JALARAM TECHNOLOGIES Share Price Performance

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(To know more, check out historical annual results for JAY JALARAM TECHNOLOGIES and quarterly results for JAY JALARAM TECHNOLOGIES)