JAYKAY ENTERPRISES 2023-24 Annual Report Analysis

Thu, 28 Nov

JAYKAY ENTERPRISES 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.

JAYKAY ENTERPRISES Income Statement Analysis

• Operating income during the year rose 12.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 71.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 6.5% in FY24 as against 4.2% in FY23.
• Depreciation charges increased by 71.0% and finance costs increased by 318.2% YoY, respectively.
• Other income grew by 19.4% YoY.
• Net profit for the year grew by 16.1% YoY.
• Net profit margins during the year grew from 17.6% in FY23 to 18.2% in FY24.

JAYKAY ENTERPRISES Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	470	527	12.2%
Other income	Rs m	117	140	19.4%
Total Revenues	Rs m	587	666	13.6%
Gross profit	Rs m	20	34	71.1%
Depreciation	Rs m	16	27	71.0%
Interest	Rs m	11	44	318.2%
Profit before tax	Rs m	111	103	-7.2%
Tax	Rs m	28	7	-76.4%
Profit after tax	Rs m	83	96	16.1%
Gross profit margin	%	4.2	6.5
Effective tax rate	%	25.2	6.4
Net profit margin	%	17.6	18.2

Get savings of Rs 6,050: Join our small cap research service today!

JAYKAY ENTERPRISES Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 575 million as compared to Rs 486 million in FY23, thereby witnessing an increase of 18.3%.
• Long-term debt stood at Rs 375 million as compared to Rs 56 million during FY23, a growth of 570.0%.
• Current assets rose 6% and stood at Rs 1 billion, while fixed assets rose 122% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 3 billion as against Rs 2 billion during FY23, thereby witnessing a growth of 45%.

JAYKAY ENTERPRISES Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,362	1,792	31.6
Current Liabilities	Rs m	486	575	18.3
Long-term Debt	Rs m	56	375	570.0
Total Liabilities	Rs m	2,053	2,983	45.3
Current assets	Rs m	1,359	1,442	6.1
Fixed Assets	Rs m	694	1,541	122.1
Total Assets	Rs m	2,053	2,983	45.3

JAYKAY ENTERPRISES Cash Flow Statement Analysis

• JAYKAY ENTERPRISES's cash flow from operating activities (CFO) during FY24 stood at Rs -328 million, an improvement of 33.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -259 million, an improvement of 841.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 617 million, an improvement of 94% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 30 million from the Rs 45 million net cash flows seen during FY23.

JAYKAY ENTERPRISES 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	-246	-328	-
Cash Flow from Investing Activities	Rs m	-28	-259	-
Cash Flow from Financing Activities	Rs m	319	617	93.6%
Net Cash Flow	Rs m	45	30	-34.6%

Current Valuations for JAYKAY ENTERPRISES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.6, an improvement from the EPS of Rs 1.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 121.3, stands at 121.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.9 times, while the price to sales ratio stands at 13.5 times.
• The company's price to cash flow (P/CF) ratio stood at 50.1 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	8.9	9.0
TTM Earnings per share	Rs	1.6	1.6
Diluted earnings per share	Rs	0.7	0.8
Price to Cash Flow	x	52.6	50.1
TTM P/E ratio	x	60.8	121.9
Price / Book Value ratio	x	2.6	3.4
Market Cap	Rs m	3,531	6,161
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JAYKAY ENTERPRISES

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.5x during FY24, from 2.8x 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 3.3x during FY24, from 11.5x 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 5.4% during FY24, from 6.1% 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 6.8% during FY24, from 8.5% 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 4.7% during FY24, from 4.5% 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	2.8	2.5
Debtors’ Days	Days	4,132	3,439
Interest coverage	x	11.5	3.3
Debt to equity ratio	x	0.0	0.2
Return on assets	%	4.5	4.7
Return on equity	%	6.1	5.4
Return on capital employed	%	8.5	6.8

To see how JAYKAY ENTERPRISES has performed over the last 5 years, please visit here.

JAYKAY ENTERPRISES Share Price Performance

Over the last one year, JAYKAY ENTERPRISES share price has moved up from Rs 82.0 to Rs 121.3, registering a gain of Rs 39.3 or around 47.9%.

Overall, the S&P BSE SENSEX is up 20.3% over the year.

(To know more, check out historical annual results for JAYKAY ENTERPRISES and quarterly results for JAYKAY ENTERPRISES)