PRISM JOHNSON 2020-21 Annual Report Analysis

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Markets will remain closed on January 26, 2022 on account of Republic Day.

PRISM JOHNSON 2020-21 Annual Report Analysis
Tue, 26 Oct

PRISM JOHNSON 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.

PRISM JOHNSON Income Statement Analysis

  • Operating income during the year fell 6.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 11.2% in FY21 as against 9.0% in FY20.
  • Depreciation charges increased by 16.7% and finance costs decreased by 15.9% YoY, respectively.
  • Other income grew by 32.7% YoY.
  • Net profit for the year declined by 808.1% YoY.
  • Net profit margins during the year grew from 0.3% in FY20 to 2.4% in FY21.

PRISM JOHNSON Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 59,562 55,871 -6.2%
Other income Rs m 287 382 32.7%
Total Revenues Rs m 59,849 56,253 -6.0%
Gross profit Rs m 5,347 6,237 16.7%
Depreciation Rs m 2,506 2,925 16.7%
Interest Rs m 2,581 2,171 -15.9%
Profit before tax Rs m 548 1,523 177.8%
Tax Rs m 740 162 -78.1%
Profit after tax Rs m -192 1,361 -808.1%
Gross profit margin % 9.0 11.2
Effective tax rate % 135.1 10.6
Net profit margin % -0.3 2.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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PRISM JOHNSON Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 25 billion as compared to Rs 26 billion in FY20, thereby witnessing an decrease of -3.9%.
  • Long-term debt down at Rs 14 billion as compared to Rs 15 billion during FY20, a fall of 5.0%.
  • Current assets fell 5% and stood at Rs 23 billion, while fixed assets rose 5% and stood at Rs 40 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 63 billion as against Rs 62 billion during FY20, thereby witnessing a growth of 1%.

PRISM JOHNSON Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 10,790 12,415 15.1
 
Current Liabilities Rs m 26,190 25,157 -3.9
Long-term Debt Rs m 15,044 14,298 -5.0
Total Liabilities Rs m 61,649 62,564 1.5
 
Current assets Rs m 23,835 22,755 -4.5
Fixed Assets Rs m 37,814 39,810 5.3
Total Assets Rs m 61,649 62,564 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



PRISM JOHNSON Cash Flow Statement Analysis

  • PRISM JOHNSON's cash flow from operating activities (CFO) during FY21 stood at Rs 13 billion, an improvement of 92.0% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -8 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 2 billion from the Rs 748 million net cash flows seen during FY20.

PRISM JOHNSON 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 6,669 12,806 92.0%
Cash Flow from Investing Activities Rs m -6,568 -2,650 -
Cash Flow from Financing Activities Rs m 648 -8,061 -
Net Cash Flow Rs m 748 2,093 179.8%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for PRISM JOHNSON

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.7, an improvement from the EPS of Rs -0.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 119.5, stands at 27.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.2 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.0 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 118.3 111.0
TTM Earnings per share Rs -0.4 2.7
Diluted earnings per share Rs -0.4 2.7
Price to Cash Flow x 26.0 14.0
TTM P/E ratio x 27.3 27.3
Price / Book Value ratio x 3.0 3.2
Market Cap Rs m 60,126 60,126
Dividends per share (Unadj.) Rs 1.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for PRISM JOHNSON

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.9x during FY21, from 0.9x 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 1.7x during FY21, from 1.2x 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 11.0% during FY21, from -1.8% 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 13.8% during FY21, from 12.1% 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 5.6% during FY21, from 3.9% 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 0.9 0.9
Debtors’ Days Days 4 4
Interest coverage x 1.2 1.7
Debt to equity ratio x 1.4 1.2
Return on assets % 3.9 5.6
Return on equity % -1.8 11.0
Return on capital employed % 12.1 13.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 up from Rs 73.4 to Rs 119.5, registering a gain of Rs 46.1 or around 62.7%.

Overall, the S&P BSE SENSEX is up 51.0% over the year.

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

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