PRISM JOHNSON 2018-19 Annual Report Analysis

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PRISM JOHNSON 2018-19 Annual Report Analysis
Mon, 23 Sep

PRISM JOHNSON has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

PRISM JOHNSON Income Statement Analysis

  • Operating income during the year rose 12.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 35.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 9.7% in FY19 as against 8.0% in FY18.
  • Depreciation charges increased by 8.5% and finance costs decreased by 3.3% YoY, respectively.
  • Other income declined by 59.5% YoY.
  • Net profit for the year grew by 99.3% YoY.
  • Net profit margins during the year grew from 1.0% in FY18 to 1.8% in FY19.

PRISM JOHNSON Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 55,077 61,944 12.5%
Other income Rs m 658 266 -59.5%
Total Revenues Rs m 55,735 62,211 11.6%
Gross profit Rs m 4,431 6,010 35.7%
Depreciation Rs m 1,844 2,000 8.5%
Interest Rs m 2,270 2,196 -3.3%
Profit before tax Rs m 975 2,081 113.5%
Tax Rs m 457 916 100.6%
Profit after tax Rs m 550 1,096 99.3%
Gross profit margin % 8.0 9.7
Effective tax rate % 46.8 44.0
Net profit margin % 1.0 1.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



PRISM JOHNSON Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 24 billion as compared to Rs 23 billion in FY18, thereby witnessing an increase of 1.7%.
  • Long-term debt stood at Rs 12 billion as compared to Rs 12 billion during FY18, a growth of 2.0%.
  • Current assets rose 13% and stood at Rs 19 billion, while fixed assets rose 2% and stood at Rs 28 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 55 billion as against Rs 52 billion during FY18, thereby witnessing a growth of 6%.

PRISM JOHNSON Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 10,379 11,261 8.5
 
Current Liabilities Rs m 23,281 23,680 1.7
Long-term Debt Rs m 11,520 11,752 2.0
Total Liabilities Rs m 51,668 54,759 6.0
 
Current assets Rs m 16,953 19,195 13.2
Fixed Assets Rs m 27,466 28,023 2.0
Total Assets Rs m 51,668 54,759 6.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



PRISM JOHNSON Cash Flow Statement Analysis

  • PRISM JOHNSON's cash flow from operating activities (CFO) during FY19 stood at Rs 7 billion, an improvement of 11.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -3 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -10 million from the Rs 4 million net cash flows seen during FY18.

PRISM JOHNSON Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 5,866 6,539 11.5%
Cash Flow from Investing Activities Rs m -4,066 -3,301 -
Cash Flow from Financing Activities Rs m -1,796 -3,247 -
Net Cash Flow Rs m 4 -10 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for PRISM JOHNSON

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.2, an improvement from the EPS of Rs 1.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 83.1, stands at 29.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.2 times, while the price to sales ratio stands at 0.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 109.4 123.1
TTM Earnings per share Rs 1.1 2.2
Diluted earnings per share Rs 1.1 2.2
Price to Cash Flow x 17.7 13.7
TTM P/E ratio x 29.6 29.6
Price / Book Value ratio x 6.0 4.2
Market Cap Rs m 41,829 41,829
Dividends per share (Unadj.) Rs 0.0 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for PRISM JOHNSON

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.8x during FY19, from 0.7x during FY18. 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 1.9x during FY19, from 1.4x during FY18. 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 9.7% during FY19, from 5.3% during FY19. 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 18.3% during FY19, from 15.0% during FY18. 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 6.0% during FY19, from 5.5% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 0.7 0.8
Debtors’ Days Days 44 43
Interest coverage x 1.4 1.9
Debt to equity ratio x 1.1 1.0
Return on assets % 5.5 6.0
Return on equity % 5.3 9.7
Return on capital employed % 15.0 18.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how PRISM JOHNSON has performed over the last 5 years, please visit here.

PRISM JOHNSON Share Price Performance

Over the last one year, PRISM JOHNSON share price has moved down from Rs 104.1 to Rs 83.1, registering a loss of Rs 21.0 or around 20.1%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

(To know more, check out historical annual results for PRISM JOHNSON and quarterly results for PRISM JOHNSON)

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Related Views on News

PRISM JOHNSON Announces Quarterly Results (3QFY20); Net Profit Down 60.1% (Quarterly Result Update)

Feb 12, 2020 | Updated on Feb 12, 2020

For the quarter ended December 2019, PRISM JOHNSON has posted a net profit of Rs 76 m (down 60.1% YoY). Sales on the other hand came in at Rs 14 bn (down 3.9% YoY). Read on for a complete analysis of PRISM JOHNSON's quarterly results.

PRISM JOHNSON Announces Quarterly Results (1QFY20); Net Profit Down 6.6% (Quarterly Result Update)

Jul 31, 2019 | Updated on Jul 31, 2019

For the quarter ended June 2019, PRISM JOHNSON has posted a net profit of Rs 656 m (down 6.6% YoY). Sales on the other hand came in at Rs 15 bn (up 0.7% YoY). Read on for a complete analysis of PRISM JOHNSON's quarterly results.

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