J KUMAR INFRA 2023-24 Annual Report Analysis

Mon, 2 Sep

J KUMAR INFRA 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.

J KUMAR INFRA Income Statement Analysis

• Operating income during the year rose 16.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 17.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.4% in FY24 as against 14.2% in FY23.
• Depreciation charges increased by 8.6% and finance costs increased by 24.9% YoY, respectively.
• Other income declined by 6.8% YoY.
• Net profit for the year grew by 19.8% YoY.
• Net profit margins during the year grew from 6.5% in FY23 to 6.7% in FY24.

J KUMAR INFRA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	42,031	48,792	16.1%
Other income	Rs m	305	284	-6.8%
Total Revenues	Rs m	42,336	49,076	15.9%
Gross profit	Rs m	5,970	7,041	17.9%
Depreciation	Rs m	1,547	1,680	8.6%
Interest	Rs m	992	1,239	24.9%
Profit before tax	Rs m	3,736	4,406	17.9%
Tax	Rs m	992	1,120	12.9%
Profit after tax	Rs m	2,744	3,286	19.8%
Gross profit margin	%	14.2	14.4
Effective tax rate	%	26.5	25.4
Net profit margin	%	6.5	6.7

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J KUMAR INFRA Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 18 billion as compared to Rs 18 billion in FY23, thereby witnessing an decrease of -2.7%.
• Long-term debt stood at Rs 1 billion as compared to Rs 825 million during FY23, a growth of 37.4%.
• Current assets rose 11% and stood at Rs 32 billion, while fixed assets rose 3% and stood at Rs 15 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 47 billion as against Rs 44 billion during FY23, thereby witnessing a growth of 8%.

J KUMAR INFRA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	23,397	26,441	13.0
Current Liabilities	Rs m	18,165	17,668	-2.7
Long-term Debt	Rs m	825	1,134	37.4
Total Liabilities	Rs m	43,558	47,101	8.1
Current assets	Rs m	28,874	32,025	10.9
Fixed Assets	Rs m	14,684	15,076	2.7
Total Assets	Rs m	43,558	47,101	8.1

J KUMAR INFRA Cash Flow Statement Analysis

• J KUMAR INFRA's cash flow from operating activities (CFO) during FY24 stood at Rs 3 billion, an improvement of 54.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -1 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 383 million from the Rs -462 million net cash flows seen during FY23.

J KUMAR INFRA 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	2,199	3,386	54.0%
Cash Flow from Investing Activities	Rs m	-2,182	-1,953	-
Cash Flow from Financing Activities	Rs m	-478	-1,050	-
Net Cash Flow	Rs m	-462	383	-

Current Valuations for J KUMAR INFRA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 43.4, an improvement from the EPS of Rs 36.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 819.6, stands at 18.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.3 times, while the price to sales ratio stands at 1.3 times.
• The company's price to cash flow (P/CF) ratio stood at 7.3 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	555.5	644.8
TTM Earnings per share	Rs	36.3	43.4
Diluted earnings per share	Rs	36.3	43.4
Price to Cash Flow	x	4.5	7.3
TTM P/E ratio	x	7.0	18.1
Price / Book Value ratio	x	0.8	1.4
Market Cap	Rs m	19,582	36,412
Dividends per share (Unadj.)	Rs	3.5	4.0

Ratio Analysis for J KUMAR INFRA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.8x 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 deteriorated and stood at 4.6x during FY24, from 4.8x 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 12.4% during FY24, from 11.7% 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 20.5% during FY24, from 19.5% 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 9.6% during FY24, from 8.6% 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	1.8
Debtors’ Days	Days	991	892
Interest coverage	x	4.8	4.6
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.6	9.6
Return on equity	%	11.7	12.4
Return on capital employed	%	19.5	20.5

To see how J KUMAR INFRA has performed over the last 5 years, please visit here.

J KUMAR INFRA Share Price Performance

Over the last one year, J KUMAR INFRA share price has moved up from Rs 418.8 to Rs 819.6, registering a gain of Rs 400.8 or around 95.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,234.0 (up 0.0%). Over the last one year it has moved up from 4,511.3 to 8,234.0, a gain of 3,723 points (up 82.5%).

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

(To know more, check out historical annual results for J KUMAR INFRA and quarterly results for J KUMAR INFRA)