JAGRAN PRAKASHAN 2020-21 Annual Report Analysis

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JAGRAN PRAKASHAN 2020-21 Annual Report Analysis
Mon, 1 Nov

JAGRAN PRAKASHAN has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

JAGRAN PRAKASHAN Income Statement Analysis

  • Operating income during the year fell 38.5% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 50.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 16.2% in FY21 as against 20.3% in FY20.
  • Depreciation charges decreased by 11.8% and finance costs increased by 0.8% YoY, respectively.
  • Other income grew by 53.4% YoY.
  • Net profit for the year declined by 72.2% YoY.
  • Net profit margins during the year declined from 13.1% in FY20 to 5.8% in FY21.

JAGRAN PRAKASHAN Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 20,973 12,892 -38.5%
Other income Rs m 390 599 53.4%
Total Revenues Rs m 21,363 13,491 -36.9%
Gross profit Rs m 4,258 2,093 -50.9%
Depreciation Rs m 1,458 1,286 -11.8%
Interest Rs m 333 336 0.8%
Profit before tax Rs m 2,858 1,070 -62.6%
Tax Rs m 49 289 490.2%
Profit after tax Rs m 2,809 781 -72.2%
Gross profit margin % 20.3 16.2
Effective tax rate % 1.7 27.0
Net profit margin % 13.1 5.8
* 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 FY21 down at Rs 4 billion as compared to Rs 6 billion in FY20, thereby witnessing an decrease of -34.2%.
  • Long-term debt stood at Rs 3 billion as compared to Rs 0 million during FY20, a fall of 0.0%.
  • Current assets fell 19% and stood at Rs 10 billion, while fixed assets rose 12% and stood at Rs 20 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 30 billion as against Rs 30 billion during FY20, thereby witnessing a fall of 0%.

JAGRAN PRAKASHAN Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 19,185 19,953 4.0
 
Current Liabilities Rs m 5,813 3,823 -34.2
Long-term Debt Rs m 0 2,623 0.0
Total Liabilities Rs m 30,298 30,158 -0.5
 
Current assets Rs m 12,294 9,990 -18.7
Fixed Assets Rs m 18,004 20,168 12.0
Total Assets Rs m 30,298 30,158 -0.5
* 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 FY21 stood at Rs 3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -18 million, an improvement of 100% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 149 million from the Rs -213 million net cash flows seen during FY20.

JAGRAN PRAKASHAN Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 4,041 3,483 -13.8%
Cash Flow from Investing Activities Rs m 371 -3,316 -
Cash Flow from Financing Activities Rs m -4,624 -18 -
Net Cash Flow Rs m -213 149 -
* 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 2.8, an decline from the EPS of Rs 10.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 61.9, stands at 9.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.7 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 7.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 74.6 46.3
TTM Earnings per share Rs 10.0 2.8
Diluted earnings per share Rs 10.7 3.0
Price to Cash Flow x 4.1 7.9
TTM P/E ratio x 10.5 9.8
Price / Book Value ratio x 1.2 0.7
Market Cap Rs m 17,406 16,320
Dividends per share (Unadj.) Rs 0.0 0.0
* 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 2.6x during FY21, from 2.1x during FY20. 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 4.2x during FY21, from 9.6x during FY20. 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 3.9% during FY21, from 14.6% during FY21. 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 6.2% during FY21, from 16.6% during FY20. 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 3.7% during FY21, from 10.4% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 2.1 2.6
Debtors’ Days Days 980 1,223
Interest coverage x 9.6 4.2
Debt to equity ratio x 0.0 0.1
Return on assets % 10.4 3.7
Return on equity % 14.6 3.9
Return on capital employed % 16.6 6.2
* 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 up from Rs 36.8 to Rs 61.9, registering a gain of Rs 25.2 or around 68.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 14,961.1 (down 1.4%). Over the last one year it has moved up from 9,663.6 to 14,961.1, a gain of 5,297 points (up 54.8%).

Overall, the S&P BSE SENSEX is up 48.6% 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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