JYOTI CNC AUTOMATION 2023-24 Annual Report Analysis

Wed, 11 Sep

JYOTI CNC AUTOMATION 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.

JYOTI CNC AUTOMATION Income Statement Analysis

• Operating income during the year rose 44.0% on a year-on-year (YoY) basis.
• The company's operating profit increased by 180.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 22.5% in FY24 as against 11.5% in FY23.
• Depreciation charges decreased by 2.6% and finance costs increased by 0.0% YoY, respectively.
• Other income declined by 70.6% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 0.6% in FY23 to 11.3% in FY24.

JYOTI CNC AUTOMATION Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	9,293	13,385	44.0%
Other income	Rs m	233	69	-70.6%
Total Revenues	Rs m	9,526	13,453	41.2%
Gross profit	Rs m	1,073	3,006	180.1%
Depreciation	Rs m	336	328	-2.6%
Interest	Rs m	897	897	0.0%
Profit before tax	Rs m	73	1,849	2,424.5%
Tax	Rs m	128	341	166.5%
Profit after tax	Rs m	-55	1,509	NA
Gross profit margin	%	11.5	22.5
Effective tax rate	%	174.6	18.4
Net profit margin	%	-0.6	11.3

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JYOTI CNC AUTOMATION Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 7 billion as compared to Rs 13 billion in FY23, thereby witnessing an decrease of -43.9%.
• Long-term debt down at Rs 845 million as compared to Rs 1 billion during FY23, a fall of 33.7%.
• Current assets rose 49% and stood at Rs 18 billion, while fixed assets rose 24% and stood at Rs 4 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 22 billion as against Rs 15 billion during FY23, thereby witnessing a growth of 44%.

JYOTI CNC AUTOMATION Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	820	13,646	1,563.3
Current Liabilities	Rs m	12,729	7,139	-43.9
Long-term Debt	Rs m	1,275	845	-33.7
Total Liabilities	Rs m	15,153	21,778	43.7
Current assets	Rs m	11,794	17,623	49.4
Fixed Assets	Rs m	3,359	4,155	23.7
Total Assets	Rs m	15,153	21,778	43.7

JYOTI CNC AUTOMATION Cash Flow Statement Analysis

• JYOTI CNC AUTOMATION's cash flow from operating activities (CFO) during FY24 stood at Rs -483 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 438.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 5 billion, an improvement of 16,008% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 3 billion from the Rs 136 million net cash flows seen during FY23.

JYOTI CNC AUTOMATION 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	421	-483	-
Cash Flow from Investing Activities	Rs m	-316	-1,705	-
Cash Flow from Financing Activities	Rs m	31	5,050	16,007.8%
Net Cash Flow	Rs m	136	2,862	1,997.3%

Current Valuations for JYOTI CNC AUTOMATION

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.6, an improvement from the EPS of Rs -1.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,146.7, stands at 121.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 19.1 times, while the price to sales ratio stands at 19.5 times.
• The company's price to cash flow (P/CF) ratio stood at 74.8 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	282.2	58.9
TTM Earnings per share	Rs	-1.7	6.6
Diluted earnings per share	Rs	-0.2	6.6
Price to Cash Flow	x	0.0	74.8
TTM P/E ratio	x	0.0	121.1
Price / Book Value ratio	x	0.0	10.1
Market Cap	Rs m	0	137,369
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JYOTI CNC AUTOMATION

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.5x during FY24, from 0.9x 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 3.1x during FY24, from 1.1x 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 11.1% during FY24, from -6.7% 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 declined and down at 19.0% during FY24, from 46.3% 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 11.0% during FY24, from 5.6% 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	0.9	2.5
Debtors’ Days	Days	57	68
Interest coverage	x	1.1	3.1
Debt to equity ratio	x	1.6	0.1
Return on assets	%	5.6	11.0
Return on equity	%	-6.7	11.1
Return on capital employed	%	46.3	19.0

To see how JYOTI CNC AUTOMATION has performed over the last 5 years, please visit here.

JYOTI CNC AUTOMATION Share Price Performance

Over the last one year, JYOTI CNC AUTOMATION share price has moved up from Rs 0.0 to Rs 1,146.7, registering a gain of Rs 1,146.7 or around 0.0%.

Overall, the S&P BSE SENSEX is up 22.2% over the year.

(To know more, check out historical annual results for JYOTI CNC AUTOMATION and quarterly results for JYOTI CNC AUTOMATION)