JUBILANT FOODWORKS 2018-19 Annual Report Analysis

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JUBILANT FOODWORKS 2018-19 Annual Report Analysis
Mon, 16 Sep

JUBILANT FOODWORKS has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

JUBILANT FOODWORKS Income Statement Analysis

  • Operating income during the year rose 18.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 36.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 16.8% in FY19 as against 14.6% in FY18.
  • Depreciation charges decreased by 1.7% increased by 0.0% YoY, respectively.
  • Other income grew by 105.2% YoY.
  • Net profit for the year grew by 62.0% YoY.
  • Net profit margins during the year grew from 6.5% in FY18 to 8.8% in FY19.

JUBILANT FOODWORKS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 30,184 35,631 18.0%
Other income Rs m 231 474 105.2%
Total Revenues Rs m 30,415 36,105 18.7%
Gross profit Rs m 4,401 5,998 36.3%
Depreciation Rs m 1,601 1,575 -1.7%
Interest Rs m 0 0 0.0%
Profit before tax Rs m 3,031 4,897 61.6%
Tax Rs m 1,068 1,717 60.7%
Profit after tax Rs m 1,962 3,180 62.0%
Gross profit margin % 14.6 16.8
Effective tax rate % 35.3 35.1
Net profit margin % 6.5 8.8
* 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 FY19 stood at Rs 5 billion as compared to Rs 5 billion in FY18, thereby witnessing an increase of 14.7%.
  • Current assets rose 61% and stood at Rs 8 billion, while fixed assets rose 3% and stood at Rs 8 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 19 billion as against Rs 15 billion during FY18, thereby witnessing a growth of 24%.

JUBILANT FOODWORKS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 9,677 12,596 30.2
 
Current Liabilities Rs m 4,735 5,430 14.7
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 14,967 18,557 24.0
 
Current assets Rs m 5,053 8,117 60.6
Fixed Assets Rs m 8,034 8,252 2.7
Total Assets Rs m 14,967 18,557 24.0
* 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 FY19 stood at Rs 4 billion, an improvement of 4.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -5 billion, an improvement of 37.8% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -167 million, an improvement of 52% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -486 million from the Rs 424 million net cash flows seen during FY18.

JUBILANT FOODWORKS Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 4,090 4,257 4.1%
Cash Flow from Investing Activities Rs m -3,319 -4,575 -
Cash Flow from Financing Activities Rs m -347 -167 -
Net Cash Flow Rs m 424 -486 -
* 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 24.1, an decline from the EPS of Rs 29.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,237.1, stands at 25.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 19.9 times, while the price to sales ratio stands at 7.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 457.5 270.0
TTM Earnings per share Rs 29.7 24.1
Diluted earnings per share Rs 29.7 48.2
Price to Cash Flow x 22.9 17.2
TTM P/E ratio x 25.3 25.3
Price / Book Value ratio x 11.0 19.9
Market Cap Rs m 81,624 81,629
Dividends per share (Unadj.) Rs 5.0 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 1.5x during FY19, from 1.1x during FY18. 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 25.2% during FY19, from 20.3% during FY19. 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 38.9% during FY19, from 31.3% during FY18. 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 17.1% during FY19, from 13.1% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 1.1 1.5
Debtors’ Days Days 2 3
Interest coverage x 0.0 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 13.1 17.1
Return on equity % 20.3 25.2
Return on capital employed % 31.3 38.9
* 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 down from Rs 1,337.1 to Rs 1,237.1, registering a loss of Rs 100.0 or around 7.5%.

Overall, the S&P BSE SENSEX is down 2.5% 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 (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.

JUBILANT FOODWORKS Announces Quarterly Results (4QFY19); Net Profit Up 8.6% (Quarterly Result Update)

May 16, 2019 | Updated on May 16, 2019

For the quarter ended March 2019, JUBILANT FOODWORKS has posted a net profit of Rs 740 m (up 8.6% YoY). Sales on the other hand came in at Rs 9 bn (up 10.9% YoY). Read on for a complete analysis of JUBILANT FOODWORKS's quarterly results.

JUBILANT FOODWORKS 2017-18 Annual Report Analysis (Annual Result Update)

Dec 21, 2018 | Updated on Dec 21, 2018

Here's an analysis of the annual report of JUBILANT FOODWORKS for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of JUBILANT FOODWORKS. Also includes updates on the valuation of JUBILANT FOODWORKS.

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