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JAGRAN PRAKASHAN 2017-18 Annual Report Analysis
Sat, 31 Mar

JAGRAN PRAKASHAN has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

JAGRAN PRAKASHAN Income Statement Analysis

  • Operating income during the year rose 0.9% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 8.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 25.3% in FY18 as against 28.0% in FY17.
  • Depreciation charges increased by 5.6% and finance costs decreased by 22.6% YoY, respectively.
  • Other income grew by 14.8% YoY.
  • Net profit for the year declined by 11.0% YoY.
  • Net profit margins during the year declined from 15.3% in FY17 to 13.5% in FY18.

JAGRAN PRAKASHAN Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 22,830 23,040 0.9%
Other income Rs m 412 473 14.8%
Total Revenues Rs m 23,242 23,513 1.2%
Gross profit Rs m 6,395 5,825 -8.9%
Depreciation Rs m 1,289 1,361 5.6%
Interest Rs m 350 271 -22.6%
Profit before tax Rs m 5,168 4,667 -9.7%
Tax Rs m 1,675 1,557 -7.1%
Profit after tax Rs m 3,493 3,109 -11.0%
Gross profit margin % 28.0 25.3
Effective tax rate % 32.4 33.4
Net profit margin % 15.3 13.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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JAGRAN PRAKASHAN Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 5 billion as compared to Rs 7 billion in FY17, thereby witnessing an decrease of -22.6%.
  • Long-term debt down at Rs 500 million as compared to Rs 502 million during FY17, a fall of 0.3%.
  • Current assets fell 13% and stood at Rs 11 billion, while fixed assets fell 5% and stood at Rs 20 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 31 billion as against Rs 34 billion during FY17, thereby witnessing a fall of 8%.

JAGRAN PRAKASHAN Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 21,549 20,397 -5.3
 
Current Liabilities Rs m 7,053 5,459 -22.6
Long-term Debt Rs m 502 500 -0.3
Total Liabilities Rs m 33,537 31,004 -7.6
 
Current assets Rs m 12,066 10,520 -12.8
Fixed Assets Rs m 21,471 20,484 -4.6
Total Assets Rs m 33,537 31,004 -7.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



JAGRAN PRAKASHAN Cash Flow Statement Analysis

  • JAGRAN PRAKASHAN's cash flow from operating activities (CFO) during FY18 stood at Rs 4 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -6 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -1 billion from the Rs 1 billion net cash flows seen during FY17.

JAGRAN PRAKASHAN Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 4,774 3,907 -18.2%
Cash Flow from Investing Activities Rs m -4,193 1,017 -
Cash Flow from Financing Activities Rs m 631 -6,053 -
Net Cash Flow Rs m 1,212 -1,129 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for JAGRAN PRAKASHAN

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.0, an decline from the EPS of Rs 10.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 171.4, stands at 14.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 2.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 12.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 69.8 74.0
TTM Earnings per share Rs 10.7 10.0
Diluted earnings per share Rs 13.2 11.8
Price to Cash Flow x 10.5 12.5
TTM P/E ratio x 16.0 14.6
Price / Book Value ratio x 2.8 2.7
Market Cap Rs m 59,841 55,852
Dividends per share (Unadj.) Rs 3.0 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for JAGRAN PRAKASHAN

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.9x during FY18, from 1.7x during FY17. 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 18.2x during FY18, from 15.7x during FY17. 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 15.2% during FY18, from 16.2% during FY18. 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 23.6% during FY18, from 25.0% during FY17. 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 10.9% during FY18, from 11.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.7 1.9
Debtors’ Days Days 825 961
Interest coverage x 15.7 18.2
Debt to equity ratio x 0.0 0.0
Return on assets % 11.5 10.9
Return on equity % 16.2 15.2
Return on capital employed % 25.0 23.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how JAGRAN PRAKASHAN has performed over the last 5 years, please visit here.

JAGRAN PRAKASHAN Share Price Performance

Over the last one year, JAGRAN PRAKASHAN share price has moved down from Rs 191.1 to Rs 171.4, registering a loss of Rs 19.8 or around 10.3%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 6,513.3 (down 0.7%). Over the last one year it has moved up from 5,771.5 to 6,513.3, a gain of 742 points (up 12.9%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for JAGRAN PRAKASHAN and quarterly results for JAGRAN PRAKASHAN)

Annual Report FAQs

What is the current share price of JAGRAN PRAKASHAN?

JAGRAN PRAKASHAN currently trades at Rs 99.8 per share. You can check out the latest share price performance of JAGRAN PRAKASHAN here...

What was the revenue of JAGRAN PRAKASHAN in FY18? How does it compare to earlier years?

The revenues of JAGRAN PRAKASHAN stood at Rs 23,513 m in FY18, which was up 1.2% compared to Rs 23,242 m reported in FY17.

JAGRAN PRAKASHAN's revenue has grown from Rs 21,328 m in FY16 to Rs 23,513 m in FY18.

Over the past 3 years, the revenue of JAGRAN PRAKASHAN has grown at a CAGR of 5.0%.

What was the net profit of JAGRAN PRAKASHAN in FY18? How does it compare to earlier years?

The net profit of JAGRAN PRAKASHAN stood at Rs 3,109 m in FY18, which was down -11.0% compared to Rs 3,493 m reported in FY17.

This compares to a net profit of Rs 3,068 m in FY16.

Over the past 3 years, JAGRAN PRAKASHAN net profit has grown at a CAGR of 0.7%.

What does the cash flow statement of JAGRAN PRAKASHAN reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of JAGRAN PRAKASHAN reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 3,907 m as compared to Rs 4,774 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs 1,017 m as compared to Rs -4,193 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -6,053 m as compared to Rs 631 m in FY17.

Here's the cash flow statement of JAGRAN PRAKASHAN for the past 3 years.

(Rs m)FY16FY17FY18
From Operations4,2454,7743,907
From Investments1,555-4,1931,017
From Financial Activity-5,728631-6,053
Net Cashflow721,212-1,129

What does the Key Ratio analysis of JAGRAN PRAKASHAN reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of JAGRAN PRAKASHAN reveals:

  • Operating profit margins witnessed a fall and stood at 25.3% in FY18 as against 28.0% in FY17.
  • Net profit margins declined from 15.3% in FY17 to 13.5% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.0 in FY17.

Here's the ratio/financial analysis of JAGRAN PRAKASHAN for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)28.228.025.3
Net Profit Margin (%)14.815.313.5
Debt to Equity Ratio (x)0.20.00.0

Read: Latest Annual Report Analysis of JAGRAN PRAKASHAN

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