Jardine Henderson Limited Annual Report and Financials

Jardine Henderson Limited Consolidated Balance Sheet (Rs in Hundreds)

Particulars	31-03-2025	31-03-2024
Non-current assets
Property, plant and equipment	1,17,758	1,34,597
Capital work-in-progress	3,639	3,639
Investment properties	29,422	30,971
Intangible assets	598	598
Investments in associate	37,64,517	36,84,078
Investments	1,86,124	1,67,286
Other financial assets	1,20,555	65,151
Non-current tax assets (net)	1,87,606	1,62,691
Current assets
Inventories	1,52,137	1,74,604
Investments	1,02,619	1,96,282
Trade receivables	6,30,902	6,40,644
Cash and cash equivalents	1,43,454	44,532
Other bank balances	1,07,318	1,43,956
Loans	7,02,738	7,10,725
Other financial assets	59,978	72,433
Other current assets	5,00,430	2,49,313
Total assets	68,09,795	64,81,500
Equity
Equity share capital	2,00,000	2,00,000
Other equity	50,14,654	48,90,931
Non-current liabilities
Provisions	1,30,188	89,196
Deferred tax liabilities (net)	6,71,893	6,98,962
Current liabilities
Borrowings	2,90,303	2,02,431
Total outstanding dues of micro and small enterprises	-	26,381
Total outstanding dues of creditors other than micro and small enterprises	1,95,374	1,11,644
Other financial liabilities	2,26,051	1,78,342
Provisions	44,348	52,400
Other current liabilities	36,984	31,213
Total equity and liabilities	68,09,795	64,81,500

Jardine Henderson Limited Consolidated Profit & Loss Statement (Rs in Hundreds)

Particulars	31-03-2025	31-03-2024
Revenue from Operation	24,09,134	24,79,756
Other Income	1,08,891	1,57,776
Total Income	25,18,025	26,37,532
Expenses
Cost of Materials Consumed	7,50,648	8,10,917
Employee Benefits Expenses	11,54,879	11,75,438
Finance Costs	32,025	30,933
Depreciation and Amortization Expenses	21,815	27,543
Other Expenses	4,96,525	5,14,669
Total Expenses	24,55,892	25,59,500
Profit Before Tax	62,133	78,032
Current Tax	15,700	15,350
Deferred Tax	-20,548	46,892
Profit for the Year	66,981	15,790
Share of Profit of Associate	69,406	2,44,359
Net Profit After Taxes and Share of Profit of Associate	1,36,387	2,60,149
Other Comprehensive Income
Items that will not be reclassified to profit or loss
Remeasurements of post-employment benefit obligation	-25,071	-42,986
Share of other comprehensive income of associate accounted using equity method	22,222	-15,268
Income tax relating to these items	185	15,528
Total Comprehensive Income for the Year	1,33,723	2,17,423
Earnings per Equity Share (Basic & Diluted)	68.19	130.07

Jardine Henderson Limited Consolidated Cash Flow Statement (Rs in Hundreds) 

Particulars	31-03-2025	31-03-2024
Cash Flow From Operating Activities
Net profit before taxation	62,133	78,032
Adjustments:
Depreciation and amortization expense	21,814	27,543
Profit on sale Of Investment	-	-1,49,674
Net gain on financial assets measured at FVTPL	-17,004	82,645
Interest Income	-43,581	-57,641
Dividend Income	-402	-466
Allowance for doubtful debts - Trade receivables	-2,336	-800
Finance cost	32,025	30,933
Operating profit before working capital changes	52,650	10,571
Adjustments:
Non-Current/Current financial and other assets	-2,41,980	-2,44,996
Inventories	22,467	40,053
Non-Current/Current financial and other liabilities/provisions	1,19,677	57,499
Cash Used in Operating Activities	-47,186	-2,51,871
Direct Taxes Paid (Net of Refund)	-40,614	-6,433
Net cash flows from operating activities	-87,800	-2,58,304
Cash Flows From Investing Activities
Purchase of property, plant and equipment	-3,428	-2,388
Capital Work in Progress	-	-3,639
Sale of Investment	-	1,50,215
Purchase of Investment	91,829	-84,279
Proceeds from repayment of loan and advances	540	33,000
Interest received	47,657	74,330
Dividend received	5,256	5,271
Net cash generated from investing activities	1,41,854	1,72,510
Cash Flows From Financing Activities
Proceeds/(Repayment) from short term borrowings	87,871	24,443
Dividend Paid	-10,978	8,495
Interest paid	-32,025	-30,933
Net Cash Generated From Financing Activities	44,868	2,005
Increase in cash and cash equivalents	98,922	-83,789
Cash and cash equivalents as at the beginning of year	44,532	1,28,321
Cash and cash equivalents as at end of the year	1,43,454	44,532

Here is a summary of the Cash Flow Statement for the years 2025 and 2024:

Operating Activities:

The company reported lower operating cash outflow in FY 2025 (₹87,800) compared to FY 2024 (₹2,58,304). Though net profit before tax remained positive, high investment in assets and negative working capital changes continued to strain cash flows. Non-operating incomes like interest and dividend further reduced operating inflows.

Investing Activities:

Cash from investing increased to ₹1,41,854 in FY 2025, supported by reduced investment purchases and steady interest/dividend income. In FY 2024, higher inflows were due to one-time investment sales. The company continues to rely heavily on investment income for liquidity

Financing Activities:

FY 2025 saw a financing inflow of ₹44,868, driven by increased short-term borrowings. This was partly offset by interest and dividend payments. In FY 2024, financing inflow was marginal (₹2,005), reflecting lower borrowing.

Net Cash Position:

Net cash increased by ₹98,922 in FY 2025 (vs. ₹83,789 decrease in FY 2024), raising the year-end cash balance to ₹1,43,454. However, the improvement came mainly from investing and financing sources, not from core operations.

Financial Ratios of Jardine Henderson Limited

Particulars	2025	2024
Current ratio	3.03	3.65
Debt-equity ratio	0.13	0.09
Debt service coverage ratio	3.09	4.88
Return on equity ratio	2.25%	3.09%
Inventory turnover ratio	4.59	4.17
Trade receivables turnover ratio	3.79	3.83
Trade payables turnover ratio	4.74	4.98
Net capital turnover ratio	1.57	1.63
Net profit ratio	2.09%	2.76%
Return on capital employed	3.90%	4.29%

Here is a summary of the financial and operational metrics for Jardine Henderson Limited for the year 2025 and 2024:

Current Ratio

The current ratio has decreased from 3.65 to 3.03, but still indicates a strong liquidity position. The company has more than 3 times the current assets compared to its current liabilities, suggesting it can easily cover short-term obligations. The decline implies a slight reduction in liquidity cushion, possibly due to an increase in liabilities or lower working capital efficiency.

Debt-Equity Ratio

A small increase in this ratio indicates that the company has taken on a bit more debt in FY 2025. However, the overall level remains very low, reflecting a conservative capital structure. The company is still primarily financed through equity, reducing financial risk and interest burden.

Debt Service Coverage Ratio

This ratio shows the company’s ability to service its debt (interest and principal). Though still at a comfortable level, the drop suggests lower cash profits or higher debt obligations in FY 2025. This means the company’s buffer for meeting debt repayments has slightly weakened.

Return on Equity

ROE has declined, indicating that shareholders earned lower returns on their investment. This may be due to lower net profits or higher retained earnings. It suggests the company needs to improve profitability or asset utilization to enhance shareholder value.

Inventory Turnover Ratio

An improvement in this ratio suggests better inventory management and faster movement of goods. The company was able to sell and replenish its inventory more efficiently in FY 2025, which is a positive sign for operational efficiency.

Trade Receivables Turnover Ratio

The ratio has remained almost stable, showing the company maintains consistent efficiency in collecting receivables. This reflects well on its credit policy and customer payment discipline, with no significant change in credit period or delays.

Trade Payables Turnover Ratio

A slight drop in this ratio means the company took a bit more time to pay its suppliers in FY 2025. This could be a deliberate effort to manage cash flows better, but a sustained decline could affect supplier relationships.

Net Capital Turnover Ratio

This minor decline shows that the efficiency of using working capital to generate revenue has reduced slightly. The company may have excess current assets or lower sales growth, impacting the effective use of capital tied up in operations.

Net Profit Ratio

A drop in the net profit ratio indicates that profitability has declined, possibly due to increased costs or lower revenue growth. It shows that for every ₹100 of revenue, the company earned ₹2.09 in FY 2025 compared to ₹2.76 in FY 2024.

Return on Capital Employed

ROCE has slightly declined, pointing to lower efficiency in using both debt and equity capital to generate profit. It reflects a need to improve the return from assets and capital investments.