JK Paper Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 7.59 8.20 (5.10) 14.70
Op profit growth 40.90 19.60 30.80 53
EBIT growth 59.30 20.20 51.80 87.40
Net profit growth 82.40 51.60 207 (404)
Profitability ratios (%)        
OPM 28.50 21.70 19.70 14.30
EBIT margin 27 18.20 16.40 10.30
Net profit margin 15.50 9.16 6.54 2.02
RoCE 20.80 15.50 12.60 8.56
RoNW 5.85 4.39 3.55 1.49
RoA 3 1.94 1.25 0.42
Per share ratios ()        
EPS 26.30 14.90 11.20 4.09
Dividend per share 4 2.50 1.50 0.50
Cash EPS 18.30 7.88 3.28 (4.20)
Book value per share 136 93.60 84.70 74.20
Valuation ratios        
P/E 2.84 9.11 8.47 10.40
P/CEPS 4.08 17.20 28.90 (10)
P/B 0.56 1.44 1.12 0.57
EV/EBIDTA 3.09 5.56 5.70 6.23
Payout (%)        
Dividend payout -- 17.10 14.30 13.30
Tax payout (33) (31) (28) (32)
Liquidity ratios        
Debtor days 10.90 14.10 17.40 18.80
Inventory days 53.20 49.90 49.80 46.70
Creditor days (59) (40) (39) (37)
Leverage ratios        
Interest coverage (6.40) (3.60) (2.30) (1.50)
Net debt / equity 0.70 0.72 1.26 1.70
Net debt / op. profit 1.94 1.92 3.23 4.74
Cost breakup ()        
Material costs (45) (54) (57) (53)
Employee costs (9.40) (8.20) (8.30) (6.50)
Other costs (18) (16) (15) (26)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 3,060 2,844 2,629 2,770
yoy growth (%) 7.59 8.20 (5.10) 14.70
Raw materials (1,364) (1,528) (1,486) (1,473)
As % of sales 44.60 53.70 56.50 53.20
Employee costs (288) (232) (218) (181)
As % of sales 9.40 8.15 8.30 6.52
Other costs (537) (466) (407) (721)
As % of sales 17.60 16.40 15.50 26
Operating profit 871 618 517 395
OPM 28.50 21.70 19.70 14.30
Depreciation (149) (122) (121) (118)
Interest expense (129) (143) (188) (195)
Other income 104 22.50 34.80 6.90
Profit before tax 696 375 244 88.80
Taxes (228) (115) (69) (28)
Tax rate (33) (31) (28) (32)
Minorities and other 6.91 -- (2.70) (4.80)
Adj. profit 475 261 172 55.90
Exceptional items -- -- -- --
Net profit 475 261 172 55.90
yoy growth (%) 82.40 51.60 207 (404)
NPM 15.50 9.16 6.54 2.02
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 696 375 244 88.80
Depreciation (149) (122) (121) (118)
Tax paid (228) (115) (69) (28)
Working capital 219 (39) (83) (132)
Other operating items -- -- -- --
Operating cashflow 538 98.80 (29) (190)
Capital expenditure 2,196 1,421 1,296 (313)
Free cash flow 2,734 1,520 1,267 (502)
Equity raised 2,374 2,005 1,776 1,581
Investments 418 87.60 253 0.68
Debt financing/disposal 1,430 554 470 474
Dividends paid -- 44.60 24.50 7.43
Other items -- -- -- --
Net in cash 6,956 4,210 3,790 1,560
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 178 178 176 171
Preference capital 51.10 48 -- --
Reserves 2,187 1,860 1,468 1,150
Net worth 2,417 2,086 1,643 1,321
Minority interest
Debt 1,731 1,515 1,310 1,698
Deferred tax liabilities (net) 513 504 310 422
Total liabilities 4,669 4,156 3,262 3,441
Fixed assets 3,541 3,035 2,691 2,703
Intangible assets
Investments 491 675 152 259
Deferred tax asset (net) 172 266 166 322
Net working capital 422 153 130 126
Inventories 498 346 394 383
Inventory Days 59.40 -- 50.60 53.20
Sundry debtors 73.80 73.50 109 111
Debtor days 8.80 -- 14 15.40
Other current assets 644 365 139 110
Sundry creditors (445) (293) (257) (237)
Creditor days 53.10 -- 32.90 32.80
Other current liabilities (348) (339) (256) (241)
Cash 42 26.70 123 30.10
Total assets 4,669 4,156 3,262 3,441
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 3,060 3,257 2,877 2,764 2,564
Excise Duty -- -- 33.20 135 127
Net Sales 3,060 3,257 2,844 2,629 2,437
Other Operating Income -- -- -- -- --
Other Income 104 50 22.50 34.80 6.90
Total Income 3,164 3,307 2,867 2,663 2,444
Total Expenditure ** 2,189 2,389 2,226 2,112 2,042
PBIDT 975 918 641 552 402
Interest 129 124 143 188 195
PBDT 846 794 498 364 207
Depreciation 149 128 122 121 118
Minority Interest Before NP -- -- -- -- --
Tax 218 45.80 3.70 0.87 (0.10)
Deferred Tax 9.92 195 111 68.20 28.20
Reported Profit After Tax 468 425 261 174 60.70
Minority Interest After NP (6.90) (2.30) -- -- --
Net Profit after Minority Interest 475 427 261 172 55.90
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 475 427 261 172 55.90
EPS (Unit Curr.) 26.30 23.90 15.30 11.40 3.91
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 40 35 25 15 5
Equity 178 178 176 156 149
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 31.90 28.20 22.50 21 16.50
PBDTM(%) 27.60 24.40 17.50 13.90 8.50
PATM(%) 15.30 13 9.16 6.64 2.49