JUPITER WAGONS 2022-23 Annual Report Analysis

Thu, 31 Aug

JUPITER WAGONS has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

JUPITER WAGONS Income Statement Analysis

• Operating income during the year rose 75.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 119.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 12.1% in FY23 as against 9.7% in FY22.
• Depreciation charges increased by 6.8% and finance costs increased by 59.0% YoY, respectively.
• Other income grew by 50.0% YoY.
• Net profit for the year grew by 143.0% YoY.
• Net profit margins during the year grew from 4.2% in FY22 to 5.8% in FY23.

JUPITER WAGONS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	11,784	20,682	75.5%
Other income	Rs m	34	51	50.0%
Total Revenues	Rs m	11,817	20,733	75.4%
Gross profit	Rs m	1,138	2,493	119.0%
Depreciation	Rs m	234	250	6.8%
Interest	Rs m	182	289	59.0%
Profit before tax	Rs m	756	2,005	165.0%
Tax	Rs m	260	798	207.1%
Profit after tax	Rs m	497	1,207	143.0%
Gross profit margin	%	9.7	12.1
Effective tax rate	%	34.4	39.8
Net profit margin	%	4.2	5.8

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JUPITER WAGONS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 8 billion as compared to Rs 4 billion in FY22, thereby witnessing an increase of 116.6%.
• Long-term debt down at Rs 188 million as compared to Rs 275 million during FY22, a fall of 31.7%.
• Current assets rose 91% and stood at Rs 11 billion, while fixed assets rose 16% and stood at Rs 6 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 16 billion as against Rs 10 billion during FY22, thereby witnessing a growth of 56%.

JUPITER WAGONS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	6,827	8,034	17.7
Current Liabilities	Rs m	3,586	7,769	116.6
Long-term Debt	Rs m	275	188	-31.7
Total Liabilities	Rs m	10,453	16,340	56.3
Current assets	Rs m	5,686	10,832	90.5
Fixed Assets	Rs m	4,767	5,508	15.5
Total Assets	Rs m	10,453	16,340	56.3

JUPITER WAGONS Cash Flow Statement Analysis

• JUPITER WAGONS's cash flow from operating activities (CFO) during FY23 stood at Rs 777 million, an improvement of 30.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -1 billion, an improvement of 149.3% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 1 billion, an improvement of 823% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 764 million from the Rs -63 million net cash flows seen during FY22.

JUPITER WAGONS Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	595	777	30.5%
Cash Flow from Investing Activities	Rs m	-491	-1,224	-
Cash Flow from Financing Activities	Rs m	-168	1,212	-
Net Cash Flow	Rs m	-63	764	-

Current Valuations for JUPITER WAGONS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.1, an improvement from the EPS of Rs 1.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 327.7, stands at 75.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 16.3 times, while the price to sales ratio stands at 6.1 times.
• The company's price to cash flow (P/CF) ratio stood at 22.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	30.4	53.4
TTM Earnings per share	Rs	1.3	3.1
Diluted earnings per share	Rs	1.2	3.0
Price to Cash Flow	x	23.9	22.8
TTM P/E ratio	x	34.9	75.5
Price / Book Value ratio	x	2.1	4.1
Market Cap	Rs m	14,355	33,243
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for JUPITER WAGONS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.4x during FY23, from 1.6x during FY22. 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 7.9x during FY23, from 5.2x during FY22. 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 15.0% during FY23, from 7.3% during FY23. 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 27.9% during FY23, from 13.2% during FY22. 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 9.2% during FY23, from 6.5% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	1.6	1.4
Debtors’ Days	Days	220	376
Interest coverage	x	5.2	7.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	6.5	9.2
Return on equity	%	7.3	15.0
Return on capital employed	%	13.2	27.9

To see how JUPITER WAGONS has performed over the last 5 years, please visit here.

JUPITER WAGONS Share Price Performance

Over the last one year, JUPITER WAGONS share price has moved up from Rs 79.8 to Rs 327.7, registering a gain of Rs 247.9 or around 310.6%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 4,438.1 (up 1.4%). Over the last one year it has moved up from 3,690.8 to 4,438.1, a gain of 747 points (up 20.2%).

Overall, the S&P BSE SENSEX is up 12.3% over the year.

(To know more, check out historical annual results for JUPITER WAGONS and quarterly results for JUPITER WAGONS)