JINDAL WORLDWIDE 2023-24 Annual Report Analysis

Tue, 27 Aug

JINDAL WORLDWIDE 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 WORLDWIDE Income Statement Analysis

• Operating income during the year fell 12.4% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 23.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.1% in FY24 as against 11.5% in FY23.
• Depreciation charges decreased by 1.2% and finance costs decreased by 4.7% YoY, respectively.
• Other income grew by 45.8% YoY.
• Net profit for the year declined by 34.6% YoY.
• Net profit margins during the year declined from 5.6% in FY23 to 4.2% in FY24.

JINDAL WORLDWIDE Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	20,700	18,141	-12.4%
Other income	Rs m	15	22	45.8%
Total Revenues	Rs m	20,715	18,163	-12.3%
Gross profit	Rs m	2,383	1,832	-23.1%
Depreciation	Rs m	339	335	-1.2%
Interest	Rs m	518	494	-4.7%
Profit before tax	Rs m	1,541	1,025	-33.5%
Tax	Rs m	383	268	-30.0%
Profit after tax	Rs m	1,157	756	-34.6%
Gross profit margin	%	11.5	10.1
Effective tax rate	%	24.9	26.2
Net profit margin	%	5.6	4.2

End of Year Sale: Grab our small cap recommendation service at 60% off!

JINDAL WORLDWIDE Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 8 billion as compared to Rs 7 billion in FY23, thereby witnessing an increase of 8.9%.
• Long-term debt down at Rs 2 billion as compared to Rs 3 billion during FY23, a fall of 25.5%.
• Current assets rose 5% and stood at Rs 13 billion, while fixed assets rose 0% and stood at Rs 4 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 17 billion as against Rs 17 billion during FY23, thereby witnessing a growth of 4%.

JINDAL WORLDWIDE Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	6,500	7,191	10.6
Current Liabilities	Rs m	7,388	8,042	8.9
Long-term Debt	Rs m	2,783	2,073	-25.5
Total Liabilities	Rs m	16,771	17,404	3.8
Current assets	Rs m	12,737	13,362	4.9
Fixed Assets	Rs m	4,034	4,042	0.2
Total Assets	Rs m	16,771	17,404	3.8

JINDAL WORLDWIDE Cash Flow Statement Analysis

• JINDAL WORLDWIDE's cash flow from operating activities (CFO) during FY24 stood at Rs 49 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -52 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -80 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -84 million from the Rs 33 million net cash flows seen during FY23.

JINDAL WORLDWIDE 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	3,149	49	-98.5%
Cash Flow from Investing Activities	Rs m	-4,956	-52	-
Cash Flow from Financing Activities	Rs m	1,840	-80	-
Net Cash Flow	Rs m	33	-84	-

Current Valuations for JINDAL WORLDWIDE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.8, an decline from the EPS of Rs 5.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 374.5, stands at 93.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 10.4 times, while the price to sales ratio stands at 4.1 times.
• The company's price to cash flow (P/CF) ratio stood at 65.0 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	103.2	90.5
TTM Earnings per share	Rs	5.8	3.8
Diluted earnings per share	Rs	5.8	3.8
Price to Cash Flow	x	43.0	65.0
TTM P/E ratio	x	55.6	93.8
Price / Book Value ratio	x	10.4	9.9
Market Cap	Rs m	67,716	70,964
Dividends per share (Unadj.)	Rs	0.2	0.2

Ratio Analysis for JINDAL WORLDWIDE

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.7x during FY24, from 1.7x 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 3.1x during FY24, from 4.0x 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 10.5% during FY24, from 17.8% 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 16.4% during FY24, from 22.2% 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 declined and down at 7.2% during FY24, from 10.0% 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	1.7	1.7
Debtors’ Days	Days	879	1,058
Interest coverage	x	4.0	3.1
Debt to equity ratio	x	0.4	0.3
Return on assets	%	10.0	7.2
Return on equity	%	17.8	10.5
Return on capital employed	%	22.2	16.4

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

JINDAL WORLDWIDE Share Price Performance

Over the last one year, JINDAL WORLDWIDE share price has moved down from Rs 401.7 to Rs 374.5, registering a loss of Rs 27.2 or around 6.8%.

Overall, the S&P BSE SENSEX is up 25.1% over the year.

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