JAIPRAKASH POWER 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 POWER 2017-18 Annual Report Analysis
Wed, 19 Dec

JAIPRAKASH POWER 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 POWER Income Statement Analysis

  • Operating income during the year rose 5.5% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 9.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 31.3% in FY18 as against 36.5% in FY17.
  • Depreciation charges increased by 6.2% and finance costs decreased by 4.9% YoY, respectively.
  • Other income grew by 306.8% YoY.
  • Net profit for the year grew by 30.6% YoY.
  • Net profit margins during the year declined from 27.5% in FY17 to 32.3% in FY18.

JAIPRAKASH POWER Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 46,212 48,769 5.5%
Other income Rs m 871 3,542 306.8%
Total Revenues Rs m 47,083 52,311 11.1%
Gross profit Rs m 16,863 15,249 -9.6%
Depreciation Rs m 7,712 8,189 6.2%
Interest Rs m 27,496 26,138 -4.9%
Profit before tax Rs m -17,475 -15,536 -11.1%
Tax Rs m -4,528 -1,765 -61.0%
Profit after tax Rs m -12,947 -16,903 30.6%
Gross profit margin % 36.5 31.3
Effective tax rate % 25.9 11.4
Net profit margin % -27.5 -32.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAIPRAKASH POWER Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 94 billion as compared to Rs 67 billion in FY17, thereby witnessing an increase of 40.2%.
  • Long-term debt down at Rs 184 billion as compared to Rs 201 billion during FY17, a fall of 8.3%.
  • Current assets rose 1% and stood at Rs 20 billion, while fixed assets fell 2% and stood at Rs 317 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 371 billion as against Rs 378 billion during FY17, thereby witnessing a fall of 2%.

JAIPRAKASH POWER Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 93,870 77,793 -17.1
 
Current Liabilities Rs m 66,795 93,632 40.2
Long-term Debt Rs m 201,031 184,386 -8.3
Total Liabilities Rs m 378,358 371,023 -1.9
 
Current assets Rs m 20,052 20,291 1.2
Fixed Assets Rs m 322,847 316,550 -2.0
Total Assets Rs m 378,358 371,023 -1.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JAIPRAKASH POWER Cash Flow Statement Analysis

  • JAIPRAKASH POWER's cash flow from operating activities (CFO) during FY18 stood at Rs 18 billion, an improvement of 26.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -15 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 90 million from the Rs -607 million net cash flows seen during FY17.

JAIPRAKASH POWER 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 14,128 17,824 26.2%
Cash Flow from Investing Activities Rs m -8,020 -2,303 -
Cash Flow from Financing Activities Rs m -6,715 -15,432 -
Net Cash Flow Rs m -607 90 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JAIPRAKASH POWER

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -2.8, an decline from the EPS of Rs -2.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 2.1, stands at -1.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.5 times, while the price to sales ratio stands at 0.9 times.
  • The company's price to cash flow (P/CF) ratio stood at -0.7 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 7.7 8.1
TTM Earnings per share Rs -2.2 -2.8
Diluted earnings per share Rs -4.4 -5.8
Price to Cash Flow x -2.4 -0.7
TTM P/E ratio x -3.2 -1.6
Price / Book Value ratio x 0.3 0.5
Market Cap Rs m 12,412 6,082
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 POWER

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.2x during FY18, from 0.3x 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 0.4x during FY18, from 0.4x 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 -21.7% during FY18, from -13.8% 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 2.8% during FY18, from 3.4% 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 2.5% during FY18, from 3.8% 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 0.3 0.2
Debtors’ Days Days 81 73
Interest coverage x 0.4 0.4
Debt to equity ratio x 2.1 2.4
Return on assets % 3.8 2.5
Return on equity % -13.8 -21.7
Return on capital employed % 3.4 2.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

JAIPRAKASH POWER Share Price Performance

Over the last one year, JAIPRAKASH POWER share price has moved up from Rs 6.9 to Rs 2.1, registering a loss of Rs 4.8 or around 70.0%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 2,005.0 (up 1.1%). Over the last one year it has moved down from 2,297.2 to 2,005.0, a loss of 292 points (down 12.7%).

Overall, the S&P BSE SENSEX is up 8.6% over the year.

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

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

  

Related Views on News

JAIPRAKASH POWER Announces Quarterly Results (1QFY20); Net Profit Down 2922.0% (Quarterly Result Update)

Jul 30, 2019 | Updated on Jul 30, 2019

For the quarter ended June 2019, JAIPRAKASH POWER has posted a net profit of Rs 1 bn (down 2922.0% YoY). Sales on the other hand came in at Rs 10 bn (down 4.7% YoY). Read on for a complete analysis of JAIPRAKASH POWER's quarterly results.

JAIPRAKASH POWER Announces Quarterly Results (4QFY19); Net Profit Down 55.3% (Quarterly Result Update)

May 14, 2019 | Updated on May 14, 2019

For the quarter ended March 2019, JAIPRAKASH POWER has posted a net profit of Rs 2 bn (down 55.3% YoY). Sales on the other hand came in at Rs 8 bn (up 9.9% YoY). Read on for a complete analysis of JAIPRAKASH POWER's quarterly results.

More Views on News

Most Popular

This Crorepati Stock Could Be the Best Vaccine for Your Portfolio Against Coronavirus(Profit Hunter)

Mar 17, 2020

If there is one stock I had to recommend you amid Coronavirus outbreak, this would be it.

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.

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 POWER

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

MORE ON JAIPRAKASH POWER

JAIPRAKASH POWER 8-QTR ANALYSIS

COMPARE JAIPRAKASH POWER WITH

MARKET STATS