JAI CORP LTD 2017-18 Annual Report Analysis

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JAI CORP LTD 2017-18 Annual Report Analysis
Thu, 20 Dec

JAI CORP LTD 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.

JAI CORP LTD Income Statement Analysis

  • Operating income during the year fell 15.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 17.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.2% in FY18 as against 12.5% in FY17.
  • Depreciation charges increased by 10.0% and finance costs decreased by 32.7% YoY, respectively.
  • Other income grew by 26.2% YoY.
  • Net profit for the year declined by 93.9% YoY.
  • Net profit margins during the year grew from 2.6% in FY17 to 0.2% in FY18.

JAI CORP LTD Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 6,946 5,883 -15.3%
Other income Rs m 207 262 26.2%
Total Revenues Rs m 7,153 6,144 -14.1%
Gross profit Rs m 871 720 -17.4%
Depreciation Rs m 167 183 10.0%
Interest Rs m 777 523 -32.7%
Profit before tax Rs m 135 275 104.5%
Tax Rs m 233 196 -15.9%
Profit after tax Rs m -183 -11 -93.9%
Gross profit margin % 12.5 12.2
Effective tax rate % 173.1 71.2
Net profit margin % -2.6 -0.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAI CORP LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 287 million as compared to Rs 10 billion in FY17, thereby witnessing an decrease of -97.0%.
  • Long-term debt stood at Rs 4 billion as compared to Rs 0 million during FY17, a fall of 0.0%.
  • Current assets fell 34% and stood at Rs 5 billion, while fixed assets rose 1% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 18 billion as against Rs 23 billion during FY17, thereby witnessing a fall of 18%.

JAI CORP LTD Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 12,358 13,551 9.6
 
Current Liabilities Rs m 9,514 287 -97.0
Long-term Debt Rs m 0 3,877 0.0
Total Liabilities Rs m 22,561 18,402 -18.4
 
Current assets Rs m 6,827 4,507 -34.0
Fixed Assets Rs m 1,794 1,815 1.2
Total Assets Rs m 22,561 18,402 -18.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAI CORP LTD Cash Flow Statement Analysis

  • JAI CORP LTD's cash flow from operating activities (CFO) during FY18 stood at Rs 481 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 5 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 44 million from the Rs -11 million net cash flows seen during FY17.

JAI CORP LTD 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 856 481 -43.8%
Cash Flow from Investing Activities Rs m -473 5,151 -
Cash Flow from Financing Activities Rs m -394 -5,588 -
Net Cash Flow Rs m -11 44 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JAI CORP LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.1, an improvement from the EPS of Rs -1.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 116.9, stands at 55.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 4.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 79.5 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 38.9 33.0
TTM Earnings per share Rs -1.0 -0.1
Diluted earnings per share Rs -1.0 -0.1
Price to Cash Flow x 306.1 79.5
TTM P/E ratio x 55.0 55.0
Price / Book Value ratio x 1.0 2.0
Market Cap Rs m 20,852 20,852
Dividends per share (Unadj.) Rs 0.5 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for JAI CORP LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 15.7x during FY18, from 0.7x 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 deteriorated and stood at 1.5x during FY18, from 1.2x 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 improved and stood at -0.1% during FY18, from -1.5% 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 4.1% during FY18, from 6.7% 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 improved and stood at 2.8% during FY18, from 2.6% 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 0.7 15.7
Debtors’ Days Days 41 49
Interest coverage x 1.2 1.5
Debt to equity ratio x 0.0 0.3
Return on assets % 2.6 2.8
Return on equity % -1.5 -0.1
Return on capital employed % 6.7 4.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how JAI CORP LTD has performed over the last 5 years, please visit here.

JAI CORP LTD Share Price Performance

Over the last one year, JAI CORP LTD share price has moved up from Rs 178.3 to Rs 116.9, registering a loss of Rs 61.4 or around 34.4%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 11,872.0 (down 1.3%). Over the last one year it has moved down from 14,440.6 to 11,872.0, a loss of 2,569 points (down 17.8%).

Overall, the S&P BSE SENSEX is up 7.5% over the year.

(To know more, check out historical annual results for JAI CORP LTD and quarterly results for JAI CORP LTD)

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1 Responses to "JAI CORP LTD 2017-18 Annual Report Analysis"

Tanmay Guha

May 11, 2020

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Aug 14, 2019 | Updated on Aug 14, 2019

For the quarter ended June 2019, JAI CORP LTD has posted a net profit of Rs 40 m (down 71.0% YoY). Sales on the other hand came in at Rs 1 bn (down 9.3% YoY). Read on for a complete analysis of JAI CORP LTD's quarterly results.

JAI CORP LTD Announces Quarterly Results (4QFY19); Net Profit Down 133.6% (Quarterly Result Update)

May 27, 2019 | Updated on May 27, 2019

For the quarter ended March 2019, JAI CORP LTD has posted a net profit of Rs 38 m (down 133.6% YoY). Sales on the other hand came in at Rs 1 bn (down 2.1% YoY). Read on for a complete analysis of JAI CORP LTD's quarterly results.

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