JAYANT AGRO 2020-21 Annual Report Analysis

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JAYANT AGRO 2020-21 Annual Report Analysis
Mon, 8 Nov

JAYANT AGRO has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

JAYANT AGRO Income Statement Analysis

  • Operating income during the year fell 34.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 906.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 5.9% in FY21 as against 0.5% in FY20.
  • Depreciation charges decreased by 0.2% and finance costs decreased by 64.4% YoY, respectively.
  • Other income declined by 72.0% YoY.
  • Net profit for the year declined by 249.5% YoY.
  • Net profit margins during the year grew from 1.4% in FY20 to 3.2% in FY21.

JAYANT AGRO Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 25,076 16,389 -34.6%
Other income Rs m 49 14 -72.0%
Total Revenues Rs m 25,125 16,402 -34.7%
Gross profit Rs m -120 971 -906.5%
Depreciation Rs m 135 135 -0.2%
Interest Rs m 405 144 -64.4%
Profit before tax Rs m -611 706 -215.4%
Tax Rs m -262 183 -169.9%
Profit after tax Rs m -349 523 -249.5%
Gross profit margin % -0.5 5.9
Effective tax rate % 42.8 25.9
Net profit margin % -1.4 3.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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JAYANT AGRO Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 2 billion as compared to Rs 2 billion in FY20, thereby witnessing an decrease of -6.6%.
  • Long-term debt down at Rs 73 million as compared to Rs 80 million during FY20, a fall of 9.1%.
  • Current assets rose 18% and stood at Rs 4 billion, while fixed assets fell 5% and stood at Rs 3 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 7 billion as against Rs 6 billion during FY20, thereby witnessing a growth of 8%.

JAYANT AGRO Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 3,255 3,807 17.0
 
Current Liabilities Rs m 2,458 2,296 -6.6
Long-term Debt Rs m 80 73 -9.1
Total Liabilities Rs m 6,208 6,727 8.4
 
Current assets Rs m 3,502 4,146 18.4
Fixed Assets Rs m 2,706 2,581 -4.6
Total Assets Rs m 6,208 6,727 8.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



JAYANT AGRO Cash Flow Statement Analysis

  • JAYANT AGRO's cash flow from operating activities (CFO) during FY21 stood at Rs 401 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -59 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -357 million, an improvement of 89% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -14 million from the Rs 28 million net cash flows seen during FY20.

JAYANT AGRO Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 3,438 401 -88.3%
Cash Flow from Investing Activities Rs m -283 -59 -
Cash Flow from Financing Activities Rs m -3,127 -357 -
Net Cash Flow Rs m 28 -14 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for JAYANT AGRO

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 17.4, an improvement from the EPS of Rs -11.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 233.2, stands at 8.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.8 times, while the price to sales ratio stands at 0.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 10.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 835.9 546.3
TTM Earnings per share Rs -11.6 17.4
Diluted earnings per share Rs -11.6 17.4
Price to Cash Flow x -32.6 10.6
TTM P/E ratio x 8.7 8.7
Price / Book Value ratio x 1.3 0.8
Market Cap Rs m 6,995 6,995
Dividends per share (Unadj.) Rs 0.0 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for JAYANT AGRO

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.8x during FY21, from 1.4x during FY20. 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 5.9x during FY21, from -0.5x during FY20. 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 13.7% during FY21, from -10.7% during FY21. 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 21.9% during FY21, from -6.2% during FY20. 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 9.9% during FY21, from 0.9% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.4 1.8
Debtors’ Days Days 23,224,708 35,404,180
Interest coverage x -0.5 5.9
Debt to equity ratio x 0.0 0.0
Return on assets % 0.9 9.9
Return on equity % -10.7 13.7
Return on capital employed % -6.2 21.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how JAYANT AGRO has performed over the last 5 years, please visit here.

JAYANT AGRO Share Price Performance

Over the last one year, JAYANT AGRO share price has moved up from Rs 96.3 to Rs 233.2, registering a gain of Rs 136.9 or around 142.1%.

Overall, the S&P BSE SENSEX is up 49.1% over the year.

(To know more, check out historical annual results for JAYANT AGRO and quarterly results for JAYANT AGRO)

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