X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
JK LAKSHMI CEMENT 2017-18 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

JK LAKSHMI CEMENT 2017-18 Annual Report Analysis
Mon, 20 Aug

JK LAKSHMI CEMENT 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.

JK LAKSHMI CEMENT Income Statement Analysis

  • Operating income during the year rose 28.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.5% in FY18 as against 12.7% in FY17.
  • Depreciation charges and finance costs increased by 18.5% YoY and 7.9% YoY, respectively.
  • Other income declined by 44.8% YoY.
  • Net profit for the year declined by 50.3% YoY.
  • Net profit margins during the year declined from 2.9% in FY17 to 1.1% in FY18.

JK LAKSHMI CEMENT Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 29,216 37,484 28.3%
Other income Rs m 1,251 690 -44.8%
Total Revenues Rs m 30,467 38,174 25.3%
Gross profit Rs m 3,697 4,318 16.8%
Depreciation Rs m 1,750 2,073 18.5%
Interest Rs m 2,444 2,637 7.9%
Profit before tax Rs m 755 298 -60.5%
Tax Rs m -78 -109 39.5%
Profit after tax Rs m 873 434 -50.3%
Gross profit margin % 12.7 11.5
Effective tax rate % -10.3 -36.5
Net profit margin % 2.9 1.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JK LAKSHMI CEMENT Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 15 billion as compared to Rs 13 billion in FY17, thereby witnessing an increase of 12.6%.
  • Long-term debt down at Rs 18 billion as compared to Rs 21 billion during FY17, a fall of 12.3%.
  • Current assets fell 4% and stood at Rs 11 billion, while fixed assets fell 0% and stood at Rs 39 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 51 billion as against Rs 51 billion during FY17, thereby witnessing a fall of 1%.

JK LAKSHMI CEMENT Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 14,010 14,435 3.0
 
Current Liabilities Rs m 13,297 14,978 12.6
Long-term Debt Rs m 21,062 18,472 -12.3
Total Liabilities Rs m 51,318 51,011 -0.6
 
Current assets Rs m 11,188 10,773 -3.7
Fixed Assets Rs m 38,717 38,653 -0.2
Total Assets Rs m 51,318 51,011 -0.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JK LAKSHMI CEMENT Cash Flow Statement Analysis

  • JK LAKSHMI CEMENT's cash flow from operating activities (CFO) during FY18 stood at Rs 5 billion, an improvement of 24.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -702 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -4 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 23 million from the Rs -226 million net cash flows seen during FY17.

JK LAKSHMI CEMENT 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 3,964 4,932 24.4%
Cash Flow from Investing Activities Rs m -6,001 -702 -
Cash Flow from Financing Activities Rs m 1,811 -4,208 -
Net Cash Flow Rs m -226 23 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JK LAKSHMI CEMENT

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.7, an decline from the EPS of Rs 7.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 334.7, stands at 56.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 1.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 15.7 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 248.3 318.5
TTM Earnings per share Rs 7.4 3.7
Diluted earnings per share Rs 7.4 3.7
Price to Cash Flow x 15.0 15.7
TTM P/E ratio x 56.7 56.7
Price / Book Value ratio x 3.5 3.6
Market Cap Rs m 39,384 39,384
Dividends per share (Unadj.) Rs 0.8 0.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for JK LAKSHMI CEMENT

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.7x during FY18, from 0.8x 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 1.1x during FY18, from 1.3x 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 declined and down at 3.0% during FY18, from 6.2% 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 declined and down at 9.0% during FY18, from 9.2% 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 declined and down at 6.0% during FY18, from 6.5% 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 0.8 0.7
Debtors’ Days Days 11 10
Interest coverage x 1.3 1.1
Debt to equity ratio x 1.5 1.3
Return on assets % 6.5 6.0
Return on equity % 6.2 3.0
Return on capital employed % 9.2 9.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how JK LAKSHMI CEMENT has performed over the last 5 years, please visit here.

JK LAKSHMI CEMENT Share Price Performance

Over the last one year, JK LAKSHMI CEMENT share price has moved up from Rs 417.9 to Rs 334.7, registering a loss of Rs 83.2 or around 19.9%.

Overall, the S&P BSE SENSEX is up 20.4% over the year.

(To know more, check out historical annual results for JK LAKSHMI CEMENT and quarterly results for JK LAKSHMI CEMENT)

Equitymaster requests your view! Post a comment on "JK LAKSHMI CEMENT 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

JK LAKSHMI CEMENT Announces Quarterly Results (3QFY19); Net Profit Up 71.7% (Quarterly Result Update)

Feb 11, 2019 | Updated on Feb 11, 2019

For the quarter ended December 2018, JK LAKSHMI CEMENT has posted a net profit of Rs 148 m (up 71.7% YoY). Sales on the other hand came in at Rs 9 bn (up 11.7% YoY). Read on for a complete analysis of JK LAKSHMI CEMENT's quarterly results.

JK LAKSHMI CEMENT 2017-18 Annual Report Analysis (Annual Result Update)

Jan 1, 2019 | Updated on Jan 1, 2019

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

JK LAKSHMI CEMENT Announces Quarterly Results (2QFY19); Net Profit Down 41.0% (Quarterly Result Update)

Nov 15, 2018 | Updated on Nov 15, 2018

For the quarter ended September 2018, JK LAKSHMI CEMENT has posted a net profit of Rs 78 m (down 41.0% YoY). Sales on the other hand came in at Rs 9 bn (up 9.6% YoY). Read on for a complete analysis of JK LAKSHMI CEMENT's quarterly results.

More Views on News

Most Popular

Are You Ready for the Big Nifty Move in the March Expiry?(Profit Hunter)

Mar 8, 2019

History suggests the Nifty could make a big move in March. Are you prepared to benefit from this opportunity?

5 Fundamentally Strong Stocks to Pick for Trading Today(Profit Hunter)

Mar 15, 2019

5 fundamentally strong stocks one could buy to trade in this market right now. Make sure you grab the chance this strongly rallying market offers.

Elections Don't Matter!(The Honest Truth)

Mar 13, 2019

Ajit Dayal shows us why from the point of view of the Indian economy, elections don't matter.

Two Growth Stocks that Doubled in a Little Over 12 Months!(The 5 Minute Wrapup)

Mar 13, 2019

The elements that fueled profit growth for these two companies led to a surge in their stock prices.

This is Why You Need to Buy Small Cap Stocks Now(The 5 Minute Wrapup)

Mar 15, 2019

Did you just miss the smallcap rally? Or is there still time to catch up? Read on for answers and more...

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK JK LAKSHMI CEMENT

  • Track your investment in JK LAKSHMI CEMENT with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON JK LAKSHMI CEMENT

JK LAKSHMI CEMENT - CHETTINAD CEMENT COMPARISON

COMPARE JK LAKSHMI CEMENT WITH

MARKET STATS