Markets will remain closed on 20^th November, 2024 on account of Assembly Elections in Maharashtra.

JINDAL PHOTO 2023-24 Annual Report Analysis

Tue, 17 Sep

JINDAL PHOTO 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.

JINDAL PHOTO Income Statement Analysis

• Operating income during the year rose 158.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 57.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 1330.0% in FY24 as against 2185.3% in FY23.
• Depreciation charges increased by 0.0% and finance costs decreased by 20.1% YoY, respectively.
• Other income grew by 41.7% YoY.
• Net profit for the year grew by 58.9% YoY.
• Net profit margins during the year declined from 2127.6% in FY23 to 1307.7% in FY24.

JINDAL PHOTO Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	79	203	158.5%
Other income	Rs m	0	0	41.7%
Total Revenues	Rs m	79	203	158.2%
Gross profit	Rs m	1,717	2,701	57.3%
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	56	45	-20.1%
Profit before tax	Rs m	1,660	2,655	59.9%
Tax	Rs m	-11	0	NA
Profit after tax	Rs m	1,672	2,655	58.9%
Gross profit margin	%	2,185.3	1,330.0
Effective tax rate	%	-0.7	0.0
Net profit margin	%	2,127.6	1,307.7

For Investors: Our Big Prediction

JINDAL PHOTO Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 194 million as compared to Rs 195 million in FY23, thereby witnessing an decrease of -0.1%.
• Long-term debt down at Rs 545 million as compared to Rs 683 million during FY23, a fall of 20.1%.
• Current assets rose 1% and stood at Rs 605 million, while fixed assets rose 13% and stood at Rs 23 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 23 billion as against Rs 21 billion during FY23, thereby witnessing a growth of 12%.

JINDAL PHOTO Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	19,925	22,606	13.5
Current Liabilities	Rs m	195	194	-0.1
Long-term Debt	Rs m	683	545	-20.1
Total Liabilities	Rs m	20,802	23,345	12.2
Current assets	Rs m	599	605	1.0
Fixed Assets	Rs m	20,203	22,740	12.6
Total Assets	Rs m	20,802	23,345	12.2

JINDAL PHOTO Cash Flow Statement Analysis

• JINDAL PHOTO's cash flow from operating activities (CFO) during FY24 stood at Rs -4 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 4 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY23.

JINDAL PHOTO 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	-5	-4	-
Cash Flow from Investing Activities	Rs m	5	4	-22.8%
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	0	0	-

Current Valuations for JINDAL PHOTO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 258.8, an improvement from the EPS of Rs 162.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 815.0, stands at 57.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.4 times, while the price to sales ratio stands at 41.2 times.
• The company's price to cash flow (P/CF) ratio stood at 2.1 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	7.7	19.8
TTM Earnings per share	Rs	162.9	258.8
Diluted earnings per share	Rs	163.0	258.9
Price to Cash Flow	x	1.7	2.1
TTM P/E ratio	x	100.3	57.1
Price / Book Value ratio	x	0.2	0.2
Market Cap	Rs m	3,103	5,601
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JINDAL PHOTO

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.1x 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 60.0x during FY24, from 30.4x 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 11.7% during FY24, from 8.4% 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 11.7% during FY24, from 8.3% 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 11.6% during FY24, from 8.3% 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	3.1
Debtors’ Days	Days	0	0
Interest coverage	x	30.4	60.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.3	11.6
Return on equity	%	8.4	11.7
Return on capital employed	%	8.3	11.7

To see how JINDAL PHOTO has performed over the last 5 years, please visit here.

JINDAL PHOTO Share Price Performance

Over the last one year, JINDAL PHOTO share price has moved up from Rs 377.7 to Rs 815.0, registering a gain of Rs 437.4 or around 115.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 66,899.1 (down 0.3%). Over the last one year it has moved up from 46,264.4 to 66,899.1, a gain of 20,635 points (up 44.6%).

Overall, the S&P BSE SENSEX is up 23.0% over the year.

(To know more, check out historical annual results for JINDAL PHOTO and quarterly results for JINDAL PHOTO)