JK Cement Ltd: Financial Analysis

Financial Highlights of JK Cement Ltd:

1. Profit & Loss Statement

(Click on the image to enlarge the preview). All figures in Rs. crore

2. Balance Sheet

(Click on the image to enlarge the preview). All figures in Rs. crore

3. Cash Flow Analysis

Strong income from operations denotes longevity.

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4. Earning Quality – Net Profit vs Operating Cash

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5. Free Cash Flow from Operations

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6. Performance Ratios

JK Cement – Performance Ratios	FY19	FY18	FY17	FY16	FY15	FY14
ROA (%)	3.75	4.41	2.73	0.90	2.40	1.53
ROE (%)	11.29	15.50	10.43	3.42	9.02	5.01
ROCE (%)	12.73	13.42	11.84	8.17	8.15	7.46
Debtors Turnover(x)	21.19	22.94	22.52	22.49	27.22	28.34

7. Efficiency Ratios

JK Cement – Efficiency Ratios	FY19	FY18	FY17	FY16	FY15	FY14
Receivable Days	17.23	15.91	16.21	16.23	13.41	12.88
Inventory Days	42.56	41.83	41.33	43.22	50.31	56.94
Payable Days	57.29	48.83	39.53	28.56	37.51	40.15

8. Growth Ratios

JK Cement- Growth Ratios	FY19	FY18	FY17	FY16	FY15	FY14
Net Sales Growth(%)	8.35	20.69	6.23	11.10	21.87	-3.99
Core EBITDA Growth(%)	-0.08	11.04	38.35	18.69	25.22	-33.84
EBIT Growth(%)	0.94	13.43	47.60	6.78	39.90	-44.11
PAT Growth(%)	-7.69	66.07	213.61	-61.36	89.36	-67.48
Adj. EPS Growth(%)	-17.61	62.92	207.22	-59.72	86.18	-66.57

9. Valuation

JK Cement – Valuation Ratios	FY19	FY18	FY17	FY16	FY15	FY14
Trailing PE – Dec 19	18.37
Price / Book Value(x)	2.47	3.60	3.82	2.96	2.89	1.10
Dividend Yield(%)	1.16	0.98	0.86	0.60	0.60	1.25
EV/Net Sales(x)	1.73	1.95	2.34	2.02	2.20	1.45
EV/EBITDA(x)	9.96	10.35	11.43	12.83	14.90	10.11
EV/EBIT(x)	13.53	14.20	16.02	19.18	20.04	15.20

10. Quarter Performance

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Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. The report & references mentioned are only for the information of the readers about the industry/company stated.