Coforge Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 39.90 6.76 4.25 13.30
Op profit growth 44.30 4.55 1.40 40.80
EBIT growth 49.60 9.06 1.20 43.10
Net profit growth 58.50 12 (7.40) 137
Profitability ratios (%)        
OPM 17.30 16.80 17.10 17.60
EBIT margin 14.80 13.80 13.50 13.90
Net profit margin 10.60 9.37 8.93 10
RoCE 28.30 22.30 21.90 24.40
RoNW 5.32 4.05 3.84 4.61
RoA 5.08 3.78 3.61 4.40
Per share ratios ()        
EPS 74.80 50.20 44.30 45
Dividend per share 31 15 12.50 10
Cash EPS 43.40 24.90 19.90 24.30
Book value per share 383 289 275 257
Valuation ratios        
P/E 15.30 17.20 9.85 11.10
P/CEPS 26.50 34.80 21.90 20.40
P/B 2.99 2.99 1.59 1.93
EV/EBIDTA 7.97 9.10 4.53 5.48
Payout (%)        
Dividend payout -- 32.90 30.70 27
Tax payout (21) (24) (21) (21)
Liquidity ratios        
Debtor days 62.90 64.30 68.90 81.20
Inventory days 0.01 0.04 0.04 0.60
Creditor days (23) (21) (21) (30)
Leverage ratios        
Interest coverage (40) (44) (63) (50)
Net debt / equity (0.40) (0.20) (0.20) (0.20)
Net debt / op. profit (1.20) (0.80) (0.80) (0.70)
Cost breakup ()        
Material costs (2) (1.10) (0.50) (1.50)
Employee costs (60) (59) (59) (57)
Other costs (20) (23) (23) (24)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 4,184 2,991 2,802 2,688
yoy growth (%) 39.90 6.76 4.25 13.30
Raw materials (84) (32) (14) (39)
As % of sales 2.02 1.06 0.50 1.45
Employee costs (2,530) (1,760) (1,651) (1,542)
As % of sales 60.50 58.80 58.90 57.40
Other costs (846) (698) (657) (634)
As % of sales 20.20 23.30 23.50 23.60
Operating profit 723 501 480 473
OPM 17.30 16.80 17.10 17.60
Depreciation (173) (127) (128) (121)
Interest expense (16) (9.40) (6) (7.50)
Other income 67.70 39.10 26.90 22.40
Profit before tax 603 404 373 367
Taxes (128) (95) (79) (78)
Tax rate (21) (24) (21) (21)
Minorities and other (24) (29) (22) (17)
Adj. profit 451 280 272 271
Exceptional items (7.10) -- (22) (1.30)
Net profit 444 280 250 270
yoy growth (%) 58.50 12 (7.40) 137
NPM 10.60 9.37 8.93 10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 603 404 373 367
Depreciation (173) (127) (128) (121)
Tax paid (128) (95) (79) (78)
Working capital 1,029 231 149 146
Other operating items -- -- -- --
Operating cashflow 1,330 412 316 313
Capital expenditure 1,254 585 386 275
Free cash flow 2,585 998 702 588
Equity raised 2,586 2,377 2,487 2,566
Investments (31) 310 234 19.50
Debt financing/disposal 27.60 (24) 16.80 1.74
Dividends paid -- 92.20 76.70 61.20
Other items -- -- -- --
Net in cash 5,168 3,753 3,516 3,236
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 62.50 61.80 61.50 61.40
Preference capital -- -- -- --
Reserves 2,334 2,011 1,713 1,625
Net worth 2,397 2,072 1,774 1,687
Minority interest
Debt 35.20 13.60 22.50 25.40
Deferred tax liabilities (net) 53.20 66.90 68.70 83.10
Total liabilities 2,485 2,160 1,887 1,819
Fixed assets 1,080 820 880 848
Intangible assets
Investments 13.70 365 365 316
Deferred tax asset (net) 144 131 146 142
Net working capital 345 287 77.60 106
Inventories -- -- 0.30 0.30
Inventory Days -- -- 0.04 0.04
Sundry debtors 857 588 586 468
Debtor days 74.70 -- 71.50 61
Other current assets 456 440 297 309
Sundry creditors (272) (176) (158) (131)
Creditor days 23.80 -- 19.30 17
Other current liabilities (696) (565) (647) (541)
Cash 903 558 418 408
Total assets 2,485 2,160 1,887 1,819
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 1,057 1,109 1,073 1,039 963
Excise Duty -- -- -- -- --
Net Sales 1,057 1,109 1,073 1,039 963
Other Operating Income -- -- -- -- --
Other Income 7.60 22.10 14.80 10.20 26.30
Total Income 1,065 1,131 1,088 1,049 989
Total Expenditure ** 906 924 879 847 824
PBIDT 159 208 210 202 165
Interest 3.70 5.40 2.60 4.40 3.10
PBDT 155 202 207 197 162
Depreciation 46.50 43.30 44.90 44.70 40.10
Minority Interest Before NP -- -- -- -- --
Tax 38.30 33.40 47.30 42.30 32.10
Deferred Tax (12) 1.40 (14) (15) (0.30)
Reported Profit After Tax 82.90 124 129 125 89.80
Minority Interest After NP 3 10.60 5.20 5.60 2.20
Net Profit after Minority Interest 79.90 114 123 120 87.60
Extra-ordinary Items (12) (10) -- -- 4.20
Adjusted Profit After Extra-ordinary item 91.60 124 123 120 83.40
EPS (Unit Curr.) 12.80 18.20 19.80 19.30 14.20
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 110 100 100 --
Equity 60.50 62.50 62.50 62.40 61.80
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(%) 15.10 18.70 19.50 19.40 17.10
PBDTM(%) 14.70 18.20 19.30 19 16.80
PATM(%) 7.84 11.20 12 12 9.33