Ador Fontech Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 16.50 3.75 2.36 2.79
Op profit growth 26.80 (0.60) (22) (24)
EBIT growth 18.30 14.70 (33) (22)
Net profit growth 26.90 (3.30) (23) (29)
Profitability ratios (%)        
OPM 8.14 7.48 7.81 10.20
EBIT margin 7.94 7.82 7.08 10.80
Net profit margin 4.98 4.58 4.91 6.50
RoCE 13.60 12.20 11.10 16.70
RoNW 2.23 1.82 1.97 2.60
RoA 2.13 1.79 1.93 2.52
Per share ratios ()        
EPS 2.52 3.97 4.11 4.60
Dividend per share 1.80 3 3 3.50
Cash EPS 1.61 2 1.97 3.51
Book value per share 28.20 56.70 52.50 52
Valuation ratios        
P/E 11.10 13.30 10.30 9.76
P/CEPS 17.40 26.40 21.50 12.80
P/B 0.99 0.93 0.80 0.86
EV/EBIDTA 4.78 10.40 8.68 6.99
Payout (%)        
Dividend payout -- 75.40 72.90 79.40
Tax payout (35) (34) (30) (40)
Liquidity ratios        
Debtor days 61.10 67.70 78.60 76.80
Inventory days 53.10 57.10 62 63.30
Creditor days (44) (43) (45) (32)
Leverage ratios        
Interest coverage (31) (79) (86) (773)
Net debt / equity (0.20) (0.20) (0.30) (0.30)
Net debt / op. profit (1.10) (2.20) (2.20) (1.80)
Cost breakup ()        
Material costs (55) (57) (58) (57)
Employee costs (17) (16) (16) (15)
Other costs (20) (19) (18) (17)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 177 152 147 143
yoy growth (%) 16.50 3.75 2.36 2.79
Raw materials (97) (87) (86) (82)
As % of sales 54.80 57 58.30 57.20
Employee costs (30) (25) (24) (22)
As % of sales 16.70 16.50 16.30 15.20
Other costs (36) (29) (26) (25)
As % of sales 20.40 19 17.60 17.40
Operating profit 14.40 11.40 11.40 14.70
OPM 8.14 7.48 7.81 10.20
Depreciation (3.20) (3.50) (3.80) (3.20)
Interest expense (0.50) (0.20) (0.10) --
Other income 2.84 3.98 2.69 3.96
Profit before tax 13.60 11.70 10.30 15.40
Taxes (4.80) (3.90) (3.10) (6.10)
Tax rate (35) (34) (30) (40)
Minorities and other -- -- -- --
Adj. profit 8.83 7.80 7.20 9.32
Exceptional items -- (0.80) -- --
Net profit 8.83 6.96 7.20 9.30
yoy growth (%) 26.90 (3.30) (23) (29)
NPM 4.98 4.58 4.91 6.50
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 13.60 11.70 10.30 15.40
Depreciation (3.20) (3.50) (3.80) (3.20)
Tax paid (4.80) (3.90) (3.10) (6.10)
Working capital 4.66 2.30 (1.90) 1.89
Other operating items -- -- -- --
Operating cashflow 10.30 6.64 1.55 8.05
Capital expenditure 18.90 0.91 0.82 (0.80)
Free cash flow 29.20 7.55 2.37 7.23
Equity raised 165 178 174 173
Investments 1.64 7.43 3.15 (3.20)
Debt financing/disposal 7.63 3.65 0.97 2.69
Dividends paid -- 5.25 5.25 6.13
Other items -- -- -- --
Net in cash 203 202 186 186
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 7 3.50 3.50 3.50
Preference capital -- -- -- --
Reserves 91.70 101 95.80 88.40
Net worth 98.70 105 99.30 91.90
Minority interest
Debt 5.75 3.01 1.88 --
Deferred tax liabilities (net) 0.16 1.19 1.20 0.60
Total liabilities 105 109 102 92.50
Fixed assets 30 19.90 21.10 21.60
Intangible assets
Investments 10.50 19.20 15.60 11.30
Deferred tax asset (net) 4.83 5.40 5.14 4.72
Net working capital 38 38.30 33.90 29.90
Inventories 28.80 21.60 22.80 24.90
Inventory Days 59.40 -- 54.60 61.90
Sundry debtors 33.40 23.60 25.90 30.50
Debtor days 68.80 -- 62.20 76
Other current assets 12.60 22.50 15.10 13.10
Sundry creditors (25) (16) (14) (20)
Creditor days 52.50 -- 32.60 49.50
Other current liabilities (11) (13) (16) (19)
Cash 21.20 26 26.70 25
Total assets 105 109 102 92.50
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 21 34.20 48.30 50.10 44.60
Excise Duty -- -- -- -- --
Net Sales 21 34.20 48.30 50.10 44.60
Other Operating Income -- -- -- -- --
Other Income 0.50 1.10 0.51 0.60 0.64
Total Income 21.50 35.30 48.80 50.70 45.20
Total Expenditure ** 21.10 35 43.30 44.20 40.30
PBIDT 0.40 0.26 5.57 6.54 4.88
Interest 0.15 0.13 0.13 0.11 0.08
PBDT 0.25 0.13 5.44 6.43 4.80
Depreciation 0.69 0.54 0.89 0.89 0.88
Minority Interest Before NP -- -- -- -- --
Tax 0.13 1.06 1.34 1.63 1.36
Deferred Tax 0.07 (1) 0.20 0.10 0.04
Reported Profit After Tax (0.60) (0.50) 3.01 3.81 2.52
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (0.60) (0.50) 3.01 3.81 2.52
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (0.60) (0.50) 3.01 3.81 2.52
EPS (Unit Curr.) (0.20) -- 1.10 1.10 1.40
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 90 -- -- --
Equity 7 7 7 7 3.50
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(%) 1.90 0.76 11.50 13.10 11
PBDTM(%) 1.19 0.38 11.30 12.80 10.80
PATM(%) (3) (1.50) 6.23 7.60 5.66