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JYOTI RESINS 2021-22 Annual Report Analysis
Mon, 12 Sep

JYOTI RESINS 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.

JYOTI RESINS Income Statement Analysis

  • Operating income during the year rose 79.6% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 127.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.1% in FY22 as against 10.3% in FY21.
  • Depreciation charges increased by 13.7% and finance costs decreased by 24.7% YoY, respectively.
  • Other income declined by 46.3% YoY.
  • Net profit for the year grew by 62.5% YoY.
  • Net profit margins during the year declined from 12.0% in FY21 to 10.9% in FY22.

JYOTI RESINS Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 1,013 1,820 79.6%
Other income Rs m 64 35 -46.3%
Total Revenues Rs m 1,077 1,854 72.1%
Gross profit Rs m 104 238 127.5%
Depreciation Rs m 6 7 13.7%
Interest Rs m 1 1 -24.7%
Profit before tax Rs m 162 265 63.6%
Tax Rs m 40 67 67.0%
Profit after tax Rs m 122 198 62.5%
Gross profit margin % 10.3 13.1
Effective tax rate % 24.8 25.3
Net profit margin % 12.0 10.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

JYOTI RESINS Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 885 million as compared to Rs 996 million in FY21, thereby witnessing an decrease of -11.2%.
  • Current assets rose 6% and stood at Rs 1 billion, while fixed assets rose 3% and stood at Rs 468 million in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 2 billion as against Rs 1 billion during FY21, thereby witnessing a growth of 5%.

JYOTI RESINS Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 439 625 42.3
 
Current Liabilities Rs m 996 885 -11.2
Long-term Debt Rs m 1 0 -100.0
Total Liabilities Rs m 1,441 1,517 5.2
 
Current assets Rs m 989 1,049 6.1
Fixed Assets Rs m 453 468 3.4
Total Assets Rs m 1,441 1,517 5.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



JYOTI RESINS Cash Flow Statement Analysis

  • JYOTI RESINS's cash flow from operating activities (CFO) during FY22 stood at Rs 26 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -23 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -12 million, an improvement of 38% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -8 million from the Rs -7 million net cash flows seen during FY21.

JYOTI RESINS 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 104 26 -75.0%
Cash Flow from Investing Activities Rs m -92 -23 -
Cash Flow from Financing Activities Rs m -19 -12 -
Net Cash Flow Rs m -7 -8 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for JYOTI RESINS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 49.4, an improvement from the EPS of Rs 30.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,605.2, stands at 76.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 30.8 times, while the price to sales ratio stands at 3.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 29.3 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 253.2 454.9
TTM Earnings per share Rs 30.4 49.4
Diluted earnings per share Rs 10.1 16.5
Price to Cash Flow x 16.4 29.3
TTM P/E ratio x 17.3 76.4
Price / Book Value ratio x 3.0 9.6
Market Cap Rs m 1,335 6,000
Dividends per share (Unadj.) Rs 3.0 7.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for JYOTI RESINS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.2x during FY22, from 1.0x 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 457.2x during FY22, from 211.0x 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 31.6% during FY22, from 27.7% 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 42.4% during FY22, from 36.9% 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 13.1% during FY22, from 8.5% 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 1.0 1.2
Debtors’ Days Days 1,877 1,291
Interest coverage x 211.0 457.2
Debt to equity ratio x 0.0 0.0
Return on assets % 8.5 13.1
Return on equity % 27.7 31.6
Return on capital employed % 36.9 42.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how JYOTI RESINS has performed over the last 5 years, please visit here.

JYOTI RESINS Share Price Performance

Over the last one year, JYOTI RESINS share price has moved up from Rs 280.1 to Rs 1,605.2, registering a gain of Rs 1,325.1 or around 473.1%.

Overall, the S&P BSE SENSEX is up 3.4% over the year.

(To know more, check out historical annual results for JYOTI RESINS and quarterly results for JYOTI RESINS)

Annual Report FAQs

What is the current share price of JYOTI RESINS?

JYOTI RESINS currently trades at Rs 1,410.0 per share. You can check out the latest share price performance of JYOTI RESINS here...

What was the revenue of JYOTI RESINS in FY22? How does it compare to earlier years?

The revenues of JYOTI RESINS stood at Rs 1,854 m in FY22, which was up 72.1% compared to Rs 1,077 m reported in FY21.

JYOTI RESINS' revenue has grown from Rs 533 m in FY18 to Rs 1,854 m in FY22.

Over the past 5 years, the revenue of JYOTI RESINS has grown at a CAGR of 36.6%.

What was the net profit of JYOTI RESINS in FY22? How does it compare to earlier years?

The net profit of JYOTI RESINS stood at Rs 198 m in FY22, which was up 62.5% compared to Rs 122 m reported in FY21.

This compares to a net profit of Rs 81 m in FY20 and a net profit of Rs 22 m in FY19.

Over the past 5 years, JYOTI RESINS net profit has grown at a CAGR of 108.4%.

What does the cash flow statement of JYOTI RESINS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of JYOTI RESINS reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs 26 m as compared to Rs 104 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs -23 m as compared to Rs -92 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs -12 m as compared to Rs -19 m in FY21.

Here's the cash flow statement of JYOTI RESINS for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations31436910426
From Investments-17-13-69-92-23
From Financial Activity214-19-12
Net Cashflow15313-7-8

What does the Key Ratio analysis of JYOTI RESINS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of JYOTI RESINS reveals:

  • Operating profit margins witnessed a fall and down at 13.1% in FY22 as against 10.3% in FY21.
  • Net profit margins declined from 12.0% in FY21 to 10.9% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of JYOTI RESINS for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)3.34.214.110.313.1
Net Profit Margin (%)2.03.211.012.010.9
Debt to Equity Ratio (x)0.10.10.00.00.0

Read: Latest Annual Report Analysis of JYOTI RESINS

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