SHRI JAGDAMBA 2023-24 Annual Report Analysis

Mon, 21 Oct

SHRI JAGDAMBA 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.

SHRI JAGDAMBA Income Statement Analysis

• Operating income during the year rose 10.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 23.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.4% in FY24 as against 13.8% in FY23.
• Depreciation charges decreased by 4.8% and finance costs increased by 159.4% YoY, respectively.
• Other income declined by 31.3% YoY.
• Net profit for the year grew by 7.4% YoY.
• Net profit margins during the year declined from 9.2% in FY23 to 8.9% in FY24.

SHRI JAGDAMBA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	3,277	3,619	10.4%
Other income	Rs m	74	51	-31.3%
Total Revenues	Rs m	3,351	3,670	9.5%
Gross profit	Rs m	452	557	23.1%
Depreciation	Rs m	82	78	-4.8%
Interest	Rs m	33	86	159.4%
Profit before tax	Rs m	411	443	7.9%
Tax	Rs m	110	121	9.4%
Profit after tax	Rs m	301	323	7.4%
Gross profit margin	%	13.8	15.4
Effective tax rate	%	26.8	27.2
Net profit margin	%	9.2	8.9

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SHRI JAGDAMBA Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 489 million as compared to Rs 196 million in FY23, thereby witnessing an increase of 149.1%.
• Long-term debt down at Rs 58 million as compared to Rs 125 million during FY23, a fall of 53.2%.
• Current assets rose 20% and stood at Rs 2 billion, while fixed assets rose 26% and stood at Rs 1 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 3 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 22%.

SHRI JAGDAMBA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,132	2,451	14.9
Current Liabilities	Rs m	196	489	149.1
Long-term Debt	Rs m	125	58	-53.2
Total Liabilities	Rs m	2,502	3,050	21.9
Current assets	Rs m	1,627	1,948	19.7
Fixed Assets	Rs m	875	1,102	25.9
Total Assets	Rs m	2,502	3,050	21.9

SHRI JAGDAMBA Cash Flow Statement Analysis

• SHRI JAGDAMBA's cash flow from operating activities (CFO) during FY24 stood at Rs -117 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 4 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -44 million, an improvement of 82% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -156 million from the Rs 149 million net cash flows seen during FY23.

SHRI JAGDAMBA 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	426	-117	-
Cash Flow from Investing Activities	Rs m	-38	4	-
Cash Flow from Financing Activities	Rs m	-239	-44	-
Net Cash Flow	Rs m	149	-156	-

Current Valuations for SHRI JAGDAMBA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 36.8, an improvement from the EPS of Rs 34.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 700.0, stands at 18.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.5 times, while the price to sales ratio stands at 1.7 times.
• The company's price to cash flow (P/CF) ratio stood at 13.8 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	374.1	413.2
TTM Earnings per share	Rs	34.3	36.8
Diluted earnings per share	Rs	34.3	36.8
Price to Cash Flow	x	11.1	13.8
TTM P/E ratio	x	14.2	18.2
Price / Book Value ratio	x	3.0	2.3
Market Cap	Rs m	6,296	5,530
Dividends per share (Unadj.)	Rs	0.5	0.8

Ratio Analysis for SHRI JAGDAMBA

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 4.0x during FY24, from 8.3x 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 6.2x during FY24, from 13.4x 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 13.2% during FY24, from 14.1% 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 21.1% during FY24, from 19.7% 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 13.4% during FY24, from 13.3% 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	8.3	4.0
Debtors’ Days	Days	785	1,036
Interest coverage	x	13.4	6.2
Debt to equity ratio	x	0.1	0.0
Return on assets	%	13.3	13.4
Return on equity	%	14.1	13.2
Return on capital employed	%	19.7	21.1

To see how SHRI JAGDAMBA has performed over the last 5 years, please visit here.

SHRI JAGDAMBA Share Price Performance

Over the last one year, SHRI JAGDAMBA share price has moved down from Rs 711.5 to Rs 700.0, registering a loss of Rs 11.5 or around 1.6%.

Overall, the S&P BSE SENSEX is up 21.9% over the year.

(To know more, check out historical annual results for SHRI JAGDAMBA and quarterly results for SHRI JAGDAMBA)