JAYANT AGRO 2023-24 Annual Report Analysis

Tue, 23 Jul

JAYANT AGRO 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.

JAYANT AGRO Income Statement Analysis

• Operating income during the year fell 22.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 0.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 4.6% in FY24 as against 3.5% in FY23.
• Depreciation charges increased by 3.3% and finance costs decreased by 29.0% YoY, respectively.
• Other income declined by 22.8% YoY.
• Net profit for the year grew by 7.0% YoY.
• Net profit margins during the year grew from 1.9% in FY23 to 2.6% in FY24.

JAYANT AGRO Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	27,716	21,500	-22.4%
Other income	Rs m	17	13	-22.8%
Total Revenues	Rs m	27,733	21,514	-22.4%
Gross profit	Rs m	977	978	0.1%
Depreciation	Rs m	154	159	3.3%
Interest	Rs m	133	95	-29.0%
Profit before tax	Rs m	707	738	4.4%
Tax	Rs m	188	183	-2.9%
Profit after tax	Rs m	519	555	7.0%
Gross profit margin	%	3.5	4.6
Effective tax rate	%	26.6	24.8
Net profit margin	%	1.9	2.6

Don't Miss: Key Information for Long-term Investors

JAYANT AGRO Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 36.6%.
• Long-term debt down at Rs 103 million as compared to Rs 126 million during FY23, a fall of 18.3%.
• Current assets rose 13% and stood at Rs 5 billion, while fixed assets rose 14% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 9 billion as against Rs 8 billion during FY23, thereby witnessing a growth of 14%.

JAYANT AGRO Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	5,073	5,432	7.1
Current Liabilities	Rs m	1,826	2,496	36.6
Long-term Debt	Rs m	126	103	-18.3
Total Liabilities	Rs m	7,687	8,730	13.6
Current assets	Rs m	4,683	5,312	13.4
Fixed Assets	Rs m	3,004	3,418	13.8
Total Assets	Rs m	7,687	8,730	13.6

JAYANT AGRO Cash Flow Statement Analysis

• JAYANT AGRO's cash flow from operating activities (CFO) during FY24 stood at Rs 169 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -532 million, an improvement of 30.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 345 million, an improvement of 143% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -18 million from the Rs -66 million net cash flows seen during FY23.

JAYANT AGRO 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	1,148	169	-85.3%
Cash Flow from Investing Activities	Rs m	-407	-532	-
Cash Flow from Financing Activities	Rs m	-807	345	-
Net Cash Flow	Rs m	-66	-18	-

Current Valuations for JAYANT AGRO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 18.5, an improvement from the EPS of Rs 17.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 301.9, stands at 16.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 0.4 times.
• The company's price to cash flow (P/CF) ratio stood at 9.2 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	923.9	716.7
TTM Earnings per share	Rs	17.3	18.5
Diluted earnings per share	Rs	17.3	18.5
Price to Cash Flow	x	6.6	9.2
TTM P/E ratio	x	8.6	16.5
Price / Book Value ratio	x	1.3	1.2
Market Cap	Rs m	6,768	6,575
Dividends per share (Unadj.)	Rs	5.0	7.5

Ratio Analysis for JAYANT AGRO

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.1x during FY24, from 2.6x 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 improved and stood at 8.8x during FY24, from 6.3x 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 10.2% during FY24, from 10.2% 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 15.0% during FY24, from 16.2% 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 7.4% during FY24, from 8.5% 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	2.6	2.1
Debtors’ Days	Days	204	335
Interest coverage	x	6.3	8.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.5	7.4
Return on equity	%	10.2	10.2
Return on capital employed	%	16.2	15.0

To see how JAYANT AGRO has performed over the last 5 years, please visit here.

JAYANT AGRO Share Price Performance

Over the last one year, JAYANT AGRO share price has moved up from Rs 216.2 to Rs 301.9, registering a gain of Rs 85.7 or around 39.6%.

Overall, the S&P BSE SENSEX is up 19.7% over the year.

(To know more, check out historical annual results for JAYANT AGRO and quarterly results for JAYANT AGRO)