PRISM JOHNSON 2023-24 Annual Report Analysis

Wed, 24 Jul

PRISM JOHNSON 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.

PRISM JOHNSON Income Statement Analysis

• Operating income during the year rose 3.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 83.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 9.0% in FY24 as against 5.1% in FY23.
• Depreciation charges increased by 6.1% and finance costs increased by 2.1% YoY, respectively.
• Other income grew by 187.8% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 2.1% in FY23 to 2.1% in FY24.

PRISM JOHNSON Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	73,605	75,875	3.1%
Other income	Rs m	357	1,026	187.8%
Total Revenues	Rs m	73,962	76,901	4.0%
Gross profit	Rs m	3,732	6,861	83.9%
Depreciation	Rs m	3,901	4,138	6.1%
Interest	Rs m	1,966	2,006	2.1%
Profit before tax	Rs m	-1,778	1,743	NA
Tax	Rs m	-201	124	NA
Profit after tax	Rs m	-1,577	1,619	NA
Gross profit margin	%	5.1	9.0
Effective tax rate	%	11.3	7.1
Net profit margin	%	-2.1	2.1

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

PRISM JOHNSON Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 34 billion as compared to Rs 33 billion in FY23, thereby witnessing an increase of 2.5%.
• Long-term debt down at Rs 9 billion as compared to Rs 10 billion during FY23, a fall of 3.2%.
• Current assets rose 16% and stood at Rs 27 billion, while fixed assets rose 4% and stood at Rs 44 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 71 billion as against Rs 66 billion during FY23, thereby witnessing a growth of 8%.

PRISM JOHNSON Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	12,067	13,890	15.1
Current Liabilities	Rs m	33,417	34,259	2.5
Long-term Debt	Rs m	9,577	9,274	-3.2
Total Liabilities	Rs m	66,244	71,470	7.9
Current assets	Rs m	23,421	27,120	15.8
Fixed Assets	Rs m	42,809	44,347	3.6
Total Assets	Rs m	66,244	71,470	7.9

PRISM JOHNSON Cash Flow Statement Analysis

• PRISM JOHNSON's cash flow from operating activities (CFO) during FY24 stood at Rs 5 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 723 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -4 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 2 billion from the Rs 49 million net cash flows seen during FY23.

PRISM JOHNSON 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	5,919	4,728	-20.1%
Cash Flow from Investing Activities	Rs m	-3,199	723	-
Cash Flow from Financing Activities	Rs m	-2,668	-3,711	-
Net Cash Flow	Rs m	49	1,740	3,422.7%

Current Valuations for PRISM JOHNSON

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.2, an improvement from the EPS of Rs -3.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 160.9, stands at 55.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.8 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 13.3 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	146.2	150.7
TTM Earnings per share	Rs	-3.1	3.2
Diluted earnings per share	Rs	-3.1	3.2
Price to Cash Flow	x	22.8	13.3
TTM P/E ratio	x	-31.7	55.0
Price / Book Value ratio	x	5.0	5.5
Market Cap	Rs m	60,541	76,787
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for PRISM JOHNSON

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.8x during FY24, from 0.7x 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 improved and stood at 1.9x during FY24, from 0.1x 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 11.7% during FY24, from -13.1% 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 16.2% during FY24, from 0.9% 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 5.1% 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	0.7	0.8
Debtors’ Days	Days	3	3
Interest coverage	x	0.1	1.9
Debt to equity ratio	x	0.8	0.7
Return on assets	%	0.6	5.1
Return on equity	%	-13.1	11.7
Return on capital employed	%	0.9	16.2

To see how PRISM JOHNSON has performed over the last 5 years, please visit here.

PRISM JOHNSON Share Price Performance

Over the last one year, PRISM JOHNSON share price has moved up from Rs 123.5 to Rs 160.9, registering a gain of Rs 37.4 or around 30.3%.

Overall, the S&P BSE SENSEX is up 20.9% over the year.

(To know more, check out historical annual results for PRISM JOHNSON and quarterly results for PRISM JOHNSON)