J KUMAR INFRA 2021-22 Annual Report Analysis

Wed, 7 Sep

J KUMAR INFRA has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

J KUMAR INFRA Income Statement Analysis

• Operating income during the year rose 37.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 62.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.3% in FY22 as against 12.1% in FY21.
• Depreciation charges increased by 2.1% and finance costs decreased by 4.2% YoY, respectively.
• Other income declined by 1.7% YoY.
• Net profit for the year grew by 222.1% YoY.
• Net profit margins during the year grew from 2.5% in FY21 to 5.8% in FY22.

J KUMAR INFRA Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	25,708	35,272	37.2%
Other income	Rs m	253	249	-1.7%
Total Revenues	Rs m	25,961	35,521	36.8%
Gross profit	Rs m	3,114	5,046	62.1%
Depreciation	Rs m	1,437	1,468	2.1%
Interest	Rs m	1,044	1,000	-4.2%
Profit before tax	Rs m	886	2,827	219.2%
Tax	Rs m	247	768	211.5%
Profit after tax	Rs m	639	2,059	222.1%
Gross profit margin	%	12.1	14.3
Effective tax rate	%	27.8	27.2
Net profit margin	%	2.5	5.8

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J KUMAR INFRA Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 18 billion as compared to Rs 17 billion in FY21, thereby witnessing an increase of 7.5%.
• Long-term debt down at Rs 315 million as compared to Rs 580 million during FY21, a fall of 45.7%.
• Current assets rose 14% and stood at Rs 26 billion, while fixed assets fell 1% and stood at Rs 14 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 39 billion as against Rs 36 billion during FY21, thereby witnessing a growth of 8%.

J KUMAR INFRA Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	18,869	20,867	10.6
Current Liabilities	Rs m	16,550	17,787	7.5
Long-term Debt	Rs m	580	315	-45.7
Total Liabilities	Rs m	36,450	39,437	8.2
Current assets	Rs m	22,696	25,786	13.6
Fixed Assets	Rs m	13,754	13,651	-0.7
Total Assets	Rs m	36,450	39,437	8.2

J KUMAR INFRA Cash Flow Statement Analysis

• J KUMAR INFRA's cash flow from operating activities (CFO) during FY22 stood at Rs 4 billion, an improvement of 3.2% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -913 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -2 billion, an improvement of 17% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 653 million from the Rs -134 million net cash flows seen during FY21.

J KUMAR INFRA Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	3,687	3,805	3.2%
Cash Flow from Investing Activities	Rs m	-1,113	-913	-
Cash Flow from Financing Activities	Rs m	-2,708	-2,239	-
Net Cash Flow	Rs m	-134	653	-

Current Valuations for J KUMAR INFRA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 27.2, an improvement from the EPS of Rs 8.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 296.8, stands at 9.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 0.6 times.
• The company's price to cash flow (P/CF) ratio stood at 4.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	339.7	466.1
TTM Earnings per share	Rs	8.4	27.2
Diluted earnings per share	Rs	8.4	27.2
Price to Cash Flow	x	7.1	4.1
TTM P/E ratio	x	23.0	9.5
Price / Book Value ratio	x	0.6	0.7
Market Cap	Rs m	10,873	14,378
Dividends per share (Unadj.)	Rs	1.0	3.0

Ratio Analysis for J KUMAR INFRA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.4x during FY22, from 1.4x during FY21. 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 improved and stood at 3.8x during FY22, from 1.8x during FY21. 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 9.9% during FY22, from 3.4% during FY22. 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 18.1% during FY22, from 9.9% during FY21. 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 7.8% during FY22, from 4.6% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	1.4	1.4
Debtors’ Days	Days	880	919
Interest coverage	x	1.8	3.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	4.6	7.8
Return on equity	%	3.4	9.9
Return on capital employed	%	9.9	18.1

To see how J KUMAR INFRA has performed over the last 5 years, please visit here.

J KUMAR INFRA Share Price Performance

Over the last one year, J KUMAR INFRA share price has moved up from Rs 200.5 to Rs 296.8, registering a gain of Rs 96.3 or around 48.0%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 3,774.2 (up 0.1%). Over the last one year it has moved up from 3,346.6 to 3,774.2, a gain of 428 points (up 12.8%).

Overall, the S&P BSE SENSEX is up 1.3% over the year.

(To know more, check out historical annual results for J KUMAR INFRA and quarterly results for J KUMAR INFRA)

Read: Latest Annual Report Analysis of J KUMAR INFRA