JAIPRAKASH ASSO. 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?  

JAIPRAKASH ASSO. 2017-18 Annual Report Analysis
Tue, 18 Dec

JAIPRAKASH ASSO. 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.

JAIPRAKASH ASSO. Income Statement Analysis

  • Operating income during the year fell 44.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 98.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 0.4% in FY18 as against 11.9% in FY17.
  • Depreciation charges decreased by 58.6% and finance costs decreased by 67.0% YoY, respectively.
  • Other income grew by 0.9% YoY.
  • Net profit for the year declined by 72.4% YoY.
  • Net profit margins during the year grew from 67.7% in FY17 to 33.3% in FY18.

JAIPRAKASH ASSO. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 137,590 76,445 -44.4%
Other income Rs m 1,443 1,456 0.9%
Total Revenues Rs m 139,034 77,901 -44.0%
Gross profit Rs m 16,377 326 -98.0%
Depreciation Rs m 18,883 7,821 -58.6%
Interest Rs m 74,065 24,405 -67.0%
Profit before tax Rs m -75,128 -30,444 -59.5%
Tax Rs m -11,901 -8 -99.9%
Profit after tax Rs m -94,126 -25,966 -72.4%
Gross profit margin % 11.9 0.4
Effective tax rate % 15.8 0.0
Net profit margin % -67.7 -33.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAIPRAKASH ASSO. Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 147 billion as compared to Rs 264 billion in FY17, thereby witnessing an decrease of -44.3%.
  • Long-term debt down at Rs 257 billion as compared to Rs 266 billion during FY17, a fall of 3.3%.
  • Current assets rose 14% and stood at Rs 209 billion, while fixed assets fell 6% and stood at Rs 109 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 496 billion as against Rs 614 billion during FY17, thereby witnessing a fall of 19%.

JAIPRAKASH ASSO. Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 38,103 46,787 22.8
 
Current Liabilities Rs m 263,608 146,869 -44.3
Long-term Debt Rs m 265,779 257,059 -3.3
Total Liabilities Rs m 613,536 496,259 -19.1
 
Current assets Rs m 183,033 208,554 13.9
Fixed Assets Rs m 116,482 109,304 -6.2
Total Assets Rs m 613,536 496,259 -19.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAIPRAKASH ASSO. Cash Flow Statement Analysis

  • JAIPRAKASH ASSO.'s cash flow from operating activities (CFO) during FY18 stood at Rs -9 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 151 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -142 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 470 million from the Rs -2 billion net cash flows seen during FY17.

JAIPRAKASH ASSO. 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 57,932 -8,553 -
Cash Flow from Investing Activities Rs m -12,921 151,220 -
Cash Flow from Financing Activities Rs m -45,544 -142,197 -
Net Cash Flow Rs m -1,872 470 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JAIPRAKASH ASSO.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -10.7, an improvement from the EPS of Rs -38.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 7.2, stands at -3.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.0 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at -1.5 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 56.6 31.4
TTM Earnings per share Rs -38.7 -10.7
Diluted earnings per share Rs -38.7 -10.7
Price to Cash Flow x -0.2 -1.5
TTM P/E ratio x -3.2 -3.2
Price / Book Value ratio x 0.7 1.0
Market Cap Rs m 17,562 17,562
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for JAIPRAKASH ASSO.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.4x 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 -0.2x during FY18, from 0.0x 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 -55.5% during FY18, from -247.0% 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 -0.5% during FY18, from -10.5% 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 -0.3% during FY18, from -3.3% 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 1.4
Debtors’ Days Days 49 92
Interest coverage x 0.0 -0.2
Debt to equity ratio x 7.0 5.5
Return on assets % -3.3 -0.3
Return on equity % -247.0 -55.5
Return on capital employed % -10.5 -0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how JAIPRAKASH ASSO. has performed over the last 5 years, please visit here.

JAIPRAKASH ASSO. Share Price Performance

Over the last one year, JAIPRAKASH ASSO. share price has moved up from Rs 17.1 to Rs 7.2, registering a loss of Rs 9.8 or around 57.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,835.2 (up 0.2%). Over the last one year it has moved down from 2,378.1 to 1,835.2, a loss of 543 points (down 22.8%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for JAIPRAKASH ASSO. and quarterly results for JAIPRAKASH ASSO.)

Equitymaster requests your view! Post a comment on "JAIPRAKASH ASSO. 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

JAIPRAKASH ASSO. Announces Quarterly Results (1QFY20); Net Profit Up 44.3% (Quarterly Result Update)

Jul 29, 2019 | Updated on Jul 29, 2019

For the quarter ended June 2019, JAIPRAKASH ASSO. has posted a net profit of Rs 2 bn (up 44.3% YoY). Sales on the other hand came in at Rs 12 bn (down 29.0% YoY). Read on for a complete analysis of JAIPRAKASH ASSO.'s quarterly results.

JAIPRAKASH ASSO. Announces Quarterly Results (4QFY19); Net Profit Down 345.0% (Quarterly Result Update)

May 30, 2019 | Updated on May 30, 2019

For the quarter ended March 2019, JAIPRAKASH ASSO. has posted a net profit of Rs 4 bn (down 345.0% YoY). Sales on the other hand came in at Rs 17 bn (up 7.1% YoY). Read on for a complete analysis of JAIPRAKASH ASSO.'s quarterly results.

IRCON International IPO: Is This PSU Worth Betting On? (IPO)

Sep 17, 2018

Should you subscribe to the IPO of IRCON International Ltd?

More Views on News

Most Popular

If I Were to Recommend One Stock Amid Coronavirus Outbreak, This Would be It.(Profit Hunter)

Mar 19, 2020

Coronavirus outbreak has made no impact on the long term prospects of my favourite smallcap. What it has indeed done is brought the company below my buy price, making it even more attractive investment at current price.

Why India Will Be the Biggest Winner in a Post-Coronavirus World(The 5 Minute Wrapup)

Mar 19, 2020

The way businesses operate will change in a major way post the coronavirus impact. Here's why India stands to benefit from this change...

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

The Biggest Trading Opportunity of 2020 is Here...

Mar 26, 2020

India's #1 trader, Vijay Bhambwani, talks about a hugely profitable trading opportunity which you must know about today!

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
Get this special report, authored by Equitymaster's top analysts, now.
We will never sell or rent your email id.
Please read our Terms

TRACK JAIPRAKASH ASSO.

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

MORE ON JAIPRAKASH ASSO.

JAIPRAKASH ASSO. - PSP PROJECTS COMPARISON

COMPARE JAIPRAKASH ASSO. WITH

MARKET STATS