JAGRAN PRAKASHAN 2019-20 Annual Report Analysis

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JAGRAN PRAKASHAN 2019-20 Annual Report Analysis
Fri, 8 Jan

JAGRAN PRAKASHAN has announced its results for the year ended March 2020. Let us have a look at the detailed performance review of the company during FY19-20.

JAGRAN PRAKASHAN Income Statement Analysis

  • Operating income during the year fell 11.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 18.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 20.6% in FY20 as against 22.6% in FY19.
  • Depreciation charges increased by 13.9% and finance costs increased by 29.0% YoY, respectively.
  • Other income declined by 20.9% YoY.
  • Net profit for the year grew by 2.4% YoY.
  • Net profit margins during the year grew from 11.4% in FY19 to 13.2% in FY20.

JAGRAN PRAKASHAN Income Statement 2019-20

No. of Mths Year Ending 12 Mar-19* 12 Mar-20* % Change
Net Sales Rs m 23,627 20,973 -11.2%
Other income Rs m 408 323 -20.9%
Total Revenues Rs m 24,034 21,296 -11.4%
Gross profit Rs m 5,337 4,326 -18.9%
Depreciation Rs m 1,279 1,458 13.9%
Interest Rs m 259 333 29.0%
Profit before tax Rs m 4,207 2,858 -32.1%
Tax Rs m 1,470 49 -96.7%
Profit after tax Rs m 2,742 2,809 2.4%
Gross profit margin % 22.6 20.6
Effective tax rate % 34.9 1.7
Net profit margin % 11.4 13.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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JAGRAN PRAKASHAN Balance Sheet Analysis

  • The company's current liabilities during FY20 down at Rs 6 billion as compared to Rs 7 billion in FY19, thereby witnessing an decrease of -18.4%.
  • Current assets rose 0% and stood at Rs 12 billion, while fixed assets fell 3% and stood at Rs 15 billion in FY20.
  • Overall, the total assets and liabilities for FY20 stood at Rs 30 billion as against Rs 31 billion during FY19, thereby witnessing a fall of 5%.

JAGRAN PRAKASHAN Balance Sheet as on March 2020

No. of Mths Year Ending 12 Mar-19* 12 Mar-20* % Change
Networth Rs m 21,017 21,485 2.2
 
Current Liabilities Rs m 7,102 5,793 -18.4
Long-term Debt Rs m 386 0 -100.0
Total Liabilities Rs m 31,016 29,509 -4.9
 
Current assets Rs m 12,224 12,273 0.4
Fixed Assets Rs m 15,085 14,687 -2.6
Total Assets Rs m 31,016 29,509 -4.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAGRAN PRAKASHAN Cash Flow Statement Analysis

  • JAGRAN PRAKASHAN's cash flow from operating activities (CFO) during FY20 stood at Rs 4 billion, an improvement of 42.0% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY20 stood at Rs 371 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY20 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY20 stood at Rs -213 million from the Rs 24 million net cash flows seen during FY19.

JAGRAN PRAKASHAN Cash Flow Statement 2019-20

Particulars No. of months 12 12 % Change
Year Ending Mar-19 Mar-20
Cash Flow from Operating Activities Rs m 2,846 4,041 42.0%
Cash Flow from Investing Activities Rs m -577 371 -
Cash Flow from Financing Activities Rs m -2,245 -4,624 -
Net Cash Flow Rs m 24 -213 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JAGRAN PRAKASHAN

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.0, an improvement from the EPS of Rs 9.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 45.8, stands at 8.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-19* 12 Mar-20*
Sales per share (Unadj.) Rs 79.7 74.6
TTM Earnings per share Rs 9.3 10.0
Diluted earnings per share Rs 8.3 8.5
Price to Cash Flow x 3.4 3.6
TTM P/E ratio x 7.9 8.9
Price / Book Value ratio x 1.9 1.1
Market Cap Rs m 13,576 15,201
Dividends per share (Unadj.) Rs 3.5 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for JAGRAN PRAKASHAN

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.1x during FY20, from 1.7x during FY19. 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 9.6x during FY20, from 17.3x during FY19. 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 13.1% during FY20, from 13.0% during FY20. 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 14.9% during FY20, from 20.9% during FY19. 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 10.6% during FY20, from 9.7% during FY19. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-19* 12 Mar-20*
Current ratio x 1.7 2.1
Debtors’ Days Days 98 98
Interest coverage x 17.3 9.6
Debt to equity ratio x 0.0 0.0
Return on assets % 9.7 10.6
Return on equity % 13.0 13.1
Return on capital employed % 20.9 14.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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 62.5 to Rs 45.8, registering a loss of Rs 16.7 or around 26.7%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 11,721.0 (up 2.1%). Over the last one year it has moved up from 7,781.3 to 11,721.0, a gain of 3,940 points (up 50.6%).

Overall, the S&P BSE SENSEX is up 19.2% over the year.

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

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Related Views on News

JAGRAN PRAKASHAN Announces Quarterly Results (3QFY21); Net Profit Down 6.0% (Quarterly Result Update)

Feb 10, 2021 | Updated on Feb 10, 2021

For the quarter ended December 2020, JAGRAN PRAKASHAN has posted a net profit of Rs 769 m (down 6.0% YoY). Sales on the other hand came in at Rs 4 bn (down 27.2% YoY). Read on for a complete analysis of JAGRAN PRAKASHAN's quarterly results.

JAGRAN PRAKASHAN Announces Quarterly Results (3QFY20); Net Profit Up 16.5% (Quarterly Result Update)

Jan 31, 2020 | Updated on Jan 31, 2020

For the quarter ended December 2019, JAGRAN PRAKASHAN has posted a net profit of Rs 818 m (up 16.5% YoY). Sales on the other hand came in at Rs 6 bn (down 9.9% YoY). Read on for a complete analysis of JAGRAN PRAKASHAN's quarterly results.

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