Adani Enterprises Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 16.40 2.09 7.42 (47)
Op profit growth (1.10) 19.70 15.70 (87)
EBIT growth 14.10 (6.80) (5.10) (75)
Net profit growth 50.30 (23) (2.30) (48)
Profitability ratios (%)        
OPM 5.26 6.19 5.28 4.90
EBIT margin 5.75 5.87 6.43 7.28
Net profit margin 2.62 2.03 2.70 2.97
RoCE 7.46 6.09 6.64 3.33
RoNW 1.78 1.30 1.80 1.29
RoA 0.85 0.53 0.70 0.34
Per share ratios ()        
EPS 7.26 3.41 7.34 8.89
Dividend per share 1 0.40 0.40 0.40
Cash EPS 6.06 0.29 6.11 6.33
Book value per share 154 137 129 122
Valuation ratios        
P/E 18.90 28.60 9.21 5.17
P/CEPS 22.70 332 11.10 7.26
P/B 0.89 0.71 0.53 0.38
EV/EBIDTA 8.14 11.30 11.70 9.23
Payout (%)        
Dividend payout 11.70 5.81 4.45 4.35
Tax payout (35) (23) (25) (7)
Liquidity ratios        
Debtor days 106 122 115 137
Inventory days 20.60 19.50 14.70 28.90
Creditor days (85) (86) (74) (71)
Leverage ratios        
Interest coverage (1.60) (1.70) (1.90) (1.80)
Net debt / equity 0.53 1.04 1.35 1.32
Net debt / op. profit 3.96 6.82 9.92 10.60
Cost breakup ()        
Material costs (80) (83) (85) (84)
Employee costs (1.60) (1.60) (1.40) (1.60)
Other costs (13) (9.40) (8.50) (10)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 43,403 37,298 36,533 34,008
yoy growth (%) 16.40 2.09 7.42 (47)
Raw materials (34,660) (30,877) (30,982) (28,422)
As % of sales 79.90 82.80 84.80 83.60
Employee costs (682) (607) (511) (528)
As % of sales 1.57 1.63 1.40 1.55
Other costs (5,775) (3,504) (3,111) (3,392)
As % of sales 13.30 9.39 8.52 9.97
Operating profit 2,284 2,310 1,929 1,667
OPM 5.26 6.19 5.28 4.90
Depreciation (472) (725) (315) (314)
Interest expense (1,572) (1,306) (1,257) (1,357)
Other income 684 603 734 1,122
Profit before tax 924 882 1,091 1,118
Taxes (324) (207) (271) (78)
Tax rate (35) (23) (25) (7)
Minorities and other 340 266 141 32.90
Adj. profit 939 941 961 1,073
Exceptional items 199 (183) 27 (62)
Net profit 1,138 757 988 1,011
yoy growth (%) 50.30 (23) (2.30) (48)
NPM 2.62 2.03 2.70 2.97
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 924 882 1,091 1,118
Depreciation (472) (725) (315) (314)
Tax paid (324) (207) (271) (78)
Working capital 327 (1,881) (2,841) 1,057
Other operating items -- -- -- --
Operating cashflow 454 (1,931) (2,337) 1,782
Capital expenditure (6,823) (28,978) (39,179) (68,095)
Free cash flow (6,369) (30,910) (41,516) (66,312)
Equity raised 33,427 33,629 34,368 35,948
Investments 1,618 919 719 517
Debt financing/disposal (12,177) (35,263) (40,067) (45,392)
Dividends paid 110 44 44 44
Other items -- -- -- --
Net in cash 16,610 (31,581) (46,452) (75,196)
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 110 110 110 110
Preference capital -- -- -- --
Reserves 16,837 14,646 14,979 14,026
Net worth 16,947 14,756 15,089 14,136
Minority interest
Debt 12,419 11,243 17,637 20,846
Deferred tax liabilities (net) 1,392 1,355 1,431 1,374
Total liabilities 32,021 27,742 34,935 36,918
Fixed assets 17,823 14,785 16,081 21,399
Intangible assets
Investments 1,952 1,511 1,461 1,042
Deferred tax asset (net) 1,642 1,704 1,659 1,784
Net working capital 7,227 8,032 13,850 10,978
Inventories 2,562 2,669 2,343 1,652
Inventory Days 21.50 -- 22.90 16.50
Sundry debtors 13,147 14,307 12,099 12,742
Debtor days 111 -- 118 127
Other current assets 7,764 7,205 22,310 8,652
Sundry creditors (10,718) (10,470) (8,459) (8,030)
Creditor days 90.10 -- 82.80 80.20
Other current liabilities (5,528) (5,679) (14,443) (4,038)
Cash 3,377 1,709 1,884 1,715
Total assets 32,021 27,742 34,935 36,918
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 43,403 40,379 35,924 36,608 34,008
Excise Duty -- -- -- -- --
Net Sales 43,403 40,379 35,924 36,608 34,008
Other Operating Income -- -- -- -- --
Other Income 1,012 1,201 642 822 1,122
Total Income 44,415 41,579 36,566 37,431 35,131
Total Expenditure ** 41,248 39,106 34,165 34,779 32,403
PBIDT 3,167 2,474 2,401 2,652 2,727
Interest 1,572 1,625 1,250 1,257 1,357
PBDT 1,594 848 1,151 1,394 1,370
Depreciation 472 390 664 315 314
Minority Interest Before NP -- -- -- -- --
Tax 241 168 113 183 158
Deferred Tax 83 (23) (1) 88.10 (80)
Reported Profit After Tax 798 314 375 808 978
Minority Interest After NP (98) (211) (163) (62) --
Net Profit after Minority Interest 1,138 717 757 988 1,000
Extra-ordinary Items 141 (86) (203) 20.40 (53)
Adjusted Profit After Extra-ordinary item 997 803 960 967 1,052
EPS (Unit Curr.) 10.40 6.52 6.89 8.98 9.09
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 100 40 40 40 40
Equity 110 110 110 110 110
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(%) 7.30 6.13 6.68 7.24 8.02
PBDTM(%) 3.67 2.10 3.20 3.81 4.03
PATM(%) 1.84 0.78 1.04 2.21 2.88