Jotindra Steel & Tubes Annual Reports & Financial

Jotindra Steel and Tubes Limited Balance Sheet (Rs in Millions)

Jotindra Steel and Tubes Limited Profit & Loss Statement (Rs in Millions)

Jotindra Steel and tubes Limited Consolidated Cash Flow Statement (Rs in Millions)

Here is the analysis of cash flow for year March 2023 and 2022:

Cash Flow from Operating Activities

Profit/Loss before Exceptional Items and Tax: For the year ending 31-03-2023, the profit before exceptional items and tax stood at Rs. 329.6, an increase from Rs. 271.52 in the previous year.

Adjustments for Various Items:

Exceptional Item: No exceptional items were recorded in the current year, while the previous year had an adjustment of Rs. -396.7.

Share of Profit/Loss of Associate: A minor adjustment of Rs. -0.01 was made in the current year.

Reserve of Subsidiaries: An addition of Rs. 3.8 was recorded in the current year.

Depreciation: Depreciation charges were similar year-over-year, with Rs. 13.45 in the current year and Rs. 13.44 in the previous year.

Loss on Sale of Assets: No losses from asset sales were recorded in the current year, whereas the previous year noted a loss of Rs. 0.41.

Goodwill/Capital Reserve: There was a significant deduction of Rs. -96.89 in the current year.

Change in Fair Value of Mutual Funds: No significant changes were noted in the current year, with a minor adjustment of Rs. -0.05 in the previous year.

Sundry Balances Written Off/Back: Adjustments of Rs. -0.15 in the current year and Rs. -2.64 in the previous year.

Interest Income: Negative adjustments for interest income were Rs. -24.61 in the current year and Rs. -16.05 in the previous year.

Interest Expense: Interest expenses decreased to Rs. 2.96 from Rs. 15.21.

Provision for Doubtful Receivables: A minor provision of Rs. -0.1 was recorded in the current year.

Loss on Sale of Mutual Funds: A small adjustment of Rs. 0.01 in the current year, consistent with Rs. 0.1 in the previous year.

Foreign Exchange Loss (Net): A loss of Rs. 3.17 was recorded in the current year, with no corresponding entry in the previous year.

Operating Profit/Loss before Working Capital Changes: After these adjustments, the operating profit before working capital changes was Rs. 231.23 in the current year compared to a loss of Rs. -114.76 in the previous year.

Changes in Working Capital:

Security Deposits: Minor changes of Rs. -0.09 in the current year and Rs. -0.2 in the previous year.

Inventories: Significant increase in inventories by Rs. 388.89 in the current year and Rs. 38.1 in the previous year.

Trade Receivables: An increase of Rs. 10.18 in the current year compared to Rs. 98.4 in the previous year.

Other Current Assets: Adjustments of Rs. -172.29 in the current year versus Rs. 862.49 in the previous year.

Other Financial Liabilities: Changes of Rs. -3.29 in the current year compared to Rs. -101.89 in the previous year.

Provisions: Adjustments of Rs. -34.48 in the current year and Rs. 0.6 in the previous year.

Trade Payables: Changes of Rs. -18.91 in the current year and Rs. -221.77 in the previous year.

Other Current Liabilities: Adjustments of Rs. -362.8 in the current year compared to Rs. -248.47 in the previous year.

Net Cash from Operating Activities: Resulting in net cash flow from operating activities of Rs. 38.43 in the current year, a decrease from Rs. 312.5 in the previous year.

Cash Flow from Investing Activities

Payments to Acquire Property, Plant, and Equipment: Expenditures of Rs. -4.1 in the current year compared to Rs. -3.59 in the previous year.

Proceeds from Sale of Property, Plant, and Equipment: No proceeds in the current year, whereas Rs. 0.5 was recorded in the previous year.

Payments to Acquire Non-Current Investments: Significant expenditures of Rs. -97.62 in the current year compared to Rs. -42.4 in the previous year.

Interest Received: Rs. 24.61 in the current year compared to Rs. 16.05 in the previous year.

Redemption/Investments in Margin Money Deposits: Adjustments of Rs. 1.1 in the current year compared to Rs. -0.7 in the previous year.

Net Cash Generated in Investing Activities: Resulting in a net cash outflow of Rs. -76.01 in the current year compared to Rs. -30.15 in the previous year.

Cash Flow from Financing Activities

Repayment/Proceeds from Long-Term Borrowings: A small inflow of Rs. 1.94 in the current year compared to an outflow of Rs. -233.65 in the previous year.

Proceeds from Short-Term Borrowings: Significant inflow of Rs. 32.16 in the current year compared to Rs. -27.36 in the previous year.

Interest and Other Finance Charges Paid: Payments of Rs. -2.96 in the current year compared to Rs. -15.21 in the previous year.

Net Cash Used in Financing Activities: Resulting in net cash inflow of Rs. 31.13 in the current year compared to an outflow of Rs. -276.22 in the previous year.

Net Changes in Cash and Cash Equivalents

The net change in cash and cash equivalents was an outflow of Rs. -6.45 in the current year compared to an inflow of Rs. 6.12 in the previous year.

Opening Balance: Rs. 8.33 in the current year compared to Rs. 2.21 in the previous year.

Closing Balance: Rs. 1.89 in the current year compared to Rs. 8.33 in the previous year.

Financial Ratios of Jotindra Steel and Tubes Limited

Here is the summary of financial and operational metrics for Jotindra Steel and Tubes Limited for year 2023 & 2022:

Debt Service Coverage Ratio (DSCR)

2023: 0.06

2022: 0.13

The Debt Service Coverage Ratio has decreased from 0.13 in 2022 to 0.06 in 2023. This ratio indicates the company's ability to service its debt with its operating income. A lower DSCR in 2023 suggests that the company’s capacity to cover its debt obligations has weakened, implying potential challenges in meeting debt repayments from its operational cash flow.

Return on Equity (ROE)

2023: 511.08%

2022: 259.10%

The Return on Equity has dramatically increased from 259.10% in 2022 to 511.08% in 2023. ROE measures the profitability relative to shareholders' equity. This significant rise indicates a substantial improvement in profitability relative to the equity base, suggesting the company generated much higher returns for its shareholders in 2023 compared to 2022.

Net Profit Ratio

2023: 0.16%

2022: -0.07%

The Net Profit Ratio improved from -0.07% in 2022 to 0.16% in 2023. This ratio measures the percentage of revenue that translates into net profit. The positive shift indicates that the company transitioned from a loss-making position to achieving a modest profit margin on its revenue, reflecting better cost management and operational efficiency.

Return on Capital Employed (ROCE)

2023: 0.55%

2022: 0.82%

The Return on Capital Employed has decreased from 0.82% in 2022 to 0.55% in 2023. ROCE measures the efficiency and profitability of a company's capital investments. A lower ROCE in 2023 suggests that the company’s ability to generate returns from its capital employed has weakened, indicating less efficient use of its capital resources compared to the previous year.

Dividend History

Jotindra Steel and Tubes Limited Recent Financial Performance:

Dividend per Share: The specific dividend per share figure for March 2023 and 2022 is not provided; Dividend per share represents the portion of a company's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.

Retained Earnings: Retained earnings for 2023 amounted to Rs. 307.83 million, while in 2022, they were Rs. 56.89 million. Retained earnings represent the portion of a company's profits that is reinvested in the business rather than distributed as dividends. An increase in retained earnings suggests that the company has retained more of its profits for reinvestment or future growth.

To provide a more comprehensive analysis, it would be necessary to consider additional financial metrics such as revenue, net profit, assets, liabilities, and cash flows. Additionally, an analysis of trends over multiple years and a comparison to industry benchmarks and competitors would help in assessing the company's financial health and performance.