JUBILANT FOODWORKS 2017-18 Annual Report Analysis

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JUBILANT FOODWORKS 2017-18 Annual Report Analysis
Fri, 21 Dec

JUBILANT FOODWORKS 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.

JUBILANT FOODWORKS Income Statement Analysis

  • Operating income during the year rose 16.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 82.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.6% in FY18 as against 9.3% in FY17.
  • Depreciation charges increased by 3.0% increased by 0.0% YoY, respectively.
  • Other income grew by 56.6% YoY.
  • Net profit for the year grew by 239.7% YoY.
  • Net profit margins during the year grew from 2.2% in FY17 to 6.5% in FY18.

JUBILANT FOODWORKS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 25,834 30,184 16.8%
Other income Rs m 147 231 56.6%
Total Revenues Rs m 25,981 30,415 17.1%
Gross profit Rs m 2,411 4,401 82.5%
Depreciation Rs m 1,554 1,601 3.0%
Interest Rs m 0 0 0.0%
Profit before tax Rs m 1,004 3,031 201.7%
Tax Rs m 305 1,068 250.3%
Profit after tax Rs m 578 1,962 239.7%
Gross profit margin % 9.3 14.6
Effective tax rate % 30.4 35.3
Net profit margin % 2.2 6.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JUBILANT FOODWORKS Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 5 billion as compared to Rs 4 billion in FY17, thereby witnessing an increase of 13.9%.
  • Current assets rose 111% and stood at Rs 5 billion, while fixed assets fell 5% and stood at Rs 8 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 15 billion as against Rs 13 billion during FY17, thereby witnessing a growth of 16%.

JUBILANT FOODWORKS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 8,053 9,677 20.2
 
Current Liabilities Rs m 4,157 4,735 13.9
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 12,906 14,967 16.0
 
Current assets Rs m 2,394 5,053 111.1
Fixed Assets Rs m 8,488 8,034 -5.3
Total Assets Rs m 12,906 14,967 16.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JUBILANT FOODWORKS Cash Flow Statement Analysis

  • JUBILANT FOODWORKS's cash flow from operating activities (CFO) during FY18 stood at Rs 4 billion, an improvement of 100.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -3 billion, an improvement of 76.3% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -347 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 424 million from the Rs 5 million net cash flows seen during FY17.

JUBILANT FOODWORKS 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 2,036 4,090 100.9%
Cash Flow from Investing Activities Rs m -1,883 -3,319 -
Cash Flow from Financing Activities Rs m -148 -347 -
Net Cash Flow Rs m 5 424 8,910.6%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JUBILANT FOODWORKS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 29.7, an improvement from the EPS of Rs 8.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,367.7, stands at 31.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 11.0 times, while the price to sales ratio stands at 3.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 25.3 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 391.7 457.5
TTM Earnings per share Rs 8.8 29.7
Diluted earnings per share Rs 8.8 29.7
Price to Cash Flow x 42.3 25.3
TTM P/E ratio x 31.5 31.5
Price / Book Value ratio x 8.6 11.0
Market Cap Rs m 90,200 90,246
Dividends per share (Unadj.) Rs 2.5 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for JUBILANT FOODWORKS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY18, from 0.6x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 20.3% during FY18, from 7.2% 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 improved and stood at 31.3% during FY18, from 11.0% 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 improved and stood at 13.1% during FY18, from 4.5% 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 0.6 1.1
Debtors’ Days Days 2 2
Interest coverage x 0.0 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 4.5 13.1
Return on equity % 7.2 20.3
Return on capital employed % 11.0 31.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how JUBILANT FOODWORKS has performed over the last 5 years, please visit here.

JUBILANT FOODWORKS Share Price Performance

Over the last one year, JUBILANT FOODWORKS share price has moved up from Rs 887.8 to Rs 1,367.7, registering a gain of Rs 479.9 or around 54.1%.

Overall, the S&P BSE SENSEX is up 7.9% over the year.

(To know more, check out historical annual results for JUBILANT FOODWORKS and quarterly results for JUBILANT FOODWORKS)

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JUBILANT FOODWORKS Announces Quarterly Results (2QFY20); Net Profit Down 2.2% (Quarterly Result Update)

Oct 25, 2019 | Updated on Oct 25, 2019

For the quarter ended September 2019, JUBILANT FOODWORKS has posted a net profit of Rs 759 m (down 2.2% YoY). Sales on the other hand came in at Rs 10 bn (up 12.1% YoY). Read on for a complete analysis of JUBILANT FOODWORKS's quarterly results.

JUBILANT FOODWORKS 2018-19 Annual Report Analysis (Annual Result Update)

Sep 16, 2019 | Updated on Sep 16, 2019

Here's an analysis of the annual report of JUBILANT FOODWORKS for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of JUBILANT FOODWORKS. Also includes updates on the valuation of JUBILANT FOODWORKS.

JUBILANT FOODWORKS Announces Quarterly Results (1QFY20); Net Profit Up 0.1% (Quarterly Result Update)

Jul 25, 2019 | Updated on Jul 25, 2019

For the quarter ended June 2019, JUBILANT FOODWORKS has posted a net profit of Rs 748 m (up 0.1% YoY). Sales on the other hand came in at Rs 9 bn (up 9.9% YoY). Read on for a complete analysis of JUBILANT FOODWORKS's quarterly results.

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