JAIPRAKASH ASSO 2023-24 Annual Report Analysis

Wed, 23 Oct

JAIPRAKASH ASSO 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.

JAIPRAKASH ASSO Income Statement Analysis

• Operating income during the year fell 9.6% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 27.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 4.3% in FY24 as against 5.4% in FY23.
• Depreciation charges increased by 0.7% and finance costs decreased by 1.6% YoY, respectively.
• Other income declined by 17.4% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year declined from 11.4% in FY23 to 14.7% in FY24.

JAIPRAKASH ASSO Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	72,631	65,681	-9.6%
Other income	Rs m	2,588	2,137	-17.4%
Total Revenues	Rs m	75,219	67,818	-9.8%
Gross profit	Rs m	3,936	2,846	-27.7%
Depreciation	Rs m	3,814	3,840	0.7%
Interest	Rs m	10,562	10,391	-1.6%
Profit before tax	Rs m	-7,852	-9,247	NA
Tax	Rs m	392	387	-1.2%
Profit after tax	Rs m	-8,244	-9,635	NA
Gross profit margin	%	5.4	4.3
Effective tax rate	%	-5.0	-4.2
Net profit margin	%	-11.4	-14.7

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JAIPRAKASH ASSO Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 148 billion as compared to Rs 146 billion in FY23, thereby witnessing an increase of 0.9%.
• Long-term debt down at Rs 107 billion as compared to Rs 120 billion during FY23, a fall of 10.7%.
• Current assets fell 2% and stood at Rs 229 billion, while fixed assets fell 10% and stood at Rs 88 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 361 billion as against Rs 378 billion during FY23, thereby witnessing a fall of 4%.

JAIPRAKASH ASSO Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	-12,514	-25,943	NA
Current Liabilities	Rs m	146,372	147,707	0.9
Long-term Debt	Rs m	119,529	106,785	-10.7
Total Liabilities	Rs m	377,676	361,406	-4.3
Current assets	Rs m	233,453	228,543	-2.1
Fixed Assets	Rs m	98,466	88,314	-10.3
Total Assets	Rs m	377,676	361,406	-4.3

JAIPRAKASH ASSO Cash Flow Statement Analysis

• JAIPRAKASH ASSO's cash flow from operating activities (CFO) during FY24 stood at Rs 12 billion, an improvement of 53.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 1 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -10 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 3 billion from the Rs 197 million net cash flows seen during FY23.

JAIPRAKASH ASSO 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	7,608	11,697	53.7%
Cash Flow from Investing Activities	Rs m	-1,162	1,341	-
Cash Flow from Financing Activities	Rs m	-6,248	-9,601	-
Net Cash Flow	Rs m	197	3,437	1,641.3%

Current Valuations for JAIPRAKASH ASSO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -3.9, an decline from the EPS of Rs -3.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 7.8, stands at -0.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at -0.7 times, while the price to sales ratio stands at 0.3 times.
• The company's price to cash flow (P/CF) ratio stood at -7.2 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	29.6	26.8
TTM Earnings per share	Rs	-3.4	-3.9
Diluted earnings per share	Rs	-3.4	-3.9
Price to Cash Flow	x	-3.8	-7.2
TTM P/E ratio	x	-2.0	-0.9
Price / Book Value ratio	x	-1.9	-1.6
Market Cap	Rs m	23,392	41,839
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JAIPRAKASH ASSO

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.5x 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 0.1x during FY24, from 0.3x 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 37.1% during FY24, from 65.9% 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 1.4% during FY24, from 2.5% 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 declined and down at 0.2% during FY24, from 0.6% 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	1.5
Debtors’ Days	Days	1,213	1,289
Interest coverage	x	0.3	0.1
Debt to equity ratio	x	-9.6	-4.1
Return on assets	%	0.6	0.2
Return on equity	%	65.9	37.1
Return on capital employed	%	2.5	1.4

To see how JAIPRAKASH ASSO has performed over the last 5 years, please visit here.

JAIPRAKASH ASSO Share Price Performance

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(To know more, check out historical annual results for JAIPRAKASH ASSO and quarterly results for JAIPRAKASH ASSO)