Jayaswal Neco Industries (522285) Q4 22/23 earnings summary

Executive summary

• FY23 revenue from operations rose to ₹634,286 lakh from ₹595,855 lakh; reported net profit fell to ₹22,687 lakh from ₹224,728 lakh, reflecting large prior-year exceptional gains.

• Q4 FY23 revenue was ₹146,929 lakh and net profit ₹520 lakh; the quarter included ₹64 lakh of exceptional expense.

Financial highlights

• FY23 profit before exceptional items and tax was ₹8,529 lakh versus ₹58,635 lakh; reported PBT was ₹3,410 lakh versus ₹231,085 lakh.

• FY23 EPS was ₹2.34 basic after exceptional items and ₹2.86 before exceptional items, versus ₹23.40 and ₹6.60, respectively, in FY22.

• Q4 FY23 basic EPS was ₹0.05 after exceptional items and ₹0.06 before exceptional items, versus ₹22.17 and ₹4.52 in Q4 FY22.

Outlook and guidance

• Under the restructuring agreement, the ₹335,088 lakh ACRE principal term loan is due for refinancing by 15 Dec 2023; management expressed confidence in refinancing by that date.