Ambuja Cements Financial Statements

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Y/e 31 Mar Dec-2019 Dec-2017 Dec-2016 Dec-2015
Growth matrix (%)        
Revenue growth 14.90 17.40 112 (5.20)
Op profit growth 19.20 21.30 106 (20)
EBIT growth 35.40 35.20 73.80 (31)
Net profit growth 38.20 37.20 36.80 (46)
Profitability ratios (%)        
OPM 17 16.30 15.80 16.30
EBIT margin 14.90 12.60 10.90 13.30
Net profit margin 7.73 6.43 5.50 8.52
RoCE 13.80 11.30 11.90 11.60
RoNW 2.34 1.87 1.84 1.99
RoA 1.80 1.44 1.50 1.85
Per share ratios ()        
EPS 14 9.79 7.22 4.64
Dividend per share 1.50 3.60 2.80 2.80
Cash EPS 4.75 1.50 (1.80) 1.15
Book value per share 121 104 99.80 66.20
Valuation ratios        
P/E 14 27.70 28.60 43.80
P/CEPS 41.40 181 (115) 177
P/B 1.62 2.60 2.07 3.07
EV/EBIDTA 5.73 11.40 9.95 15.20
Payout (%)        
Dividend payout 14.20 47.10 28.70 64.70
Tax payout (28) (30) (28) (31)
Liquidity ratios        
Debtor days 13.50 14.40 11 10
Inventory days 30.70 35.70 27.80 34.40
Creditor days (45) (48) (32) (34)
Leverage ratios        
Interest coverage (24) (14) (14) (14)
Net debt / equity (0.40) (0.30) (0.20) (0.30)
Net debt / op. profit (2) (1.60) (1.40) (1.80)
Cost breakup ()        
Material costs (14) (12) (12) (8.80)
Employee costs (5.80) (6.40) (6.80) (6.30)
Other costs (64) (65) (66) (69)
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Y/e 31 Mar( In .Cr) Dec-2019 Dec-2017 Dec-2016 Dec-2015
Revenue 27,104 23,598 20,094 9,481
yoy growth (%) 14.90 17.40 112 (5.20)
Raw materials (3,684) (2,776) (2,331) (831)
As % of sales 13.60 11.80 11.60 8.77
Employee costs (1,571) (1,511) (1,370) (594)
As % of sales 5.80 6.40 6.82 6.27
Other costs (17,252) (15,454) (13,211) (6,514)
As % of sales 63.70 65.50 65.70 68.70
Operating profit 4,597 3,858 3,181 1,542
OPM 17 16.30 15.80 16.30
Depreciation (1,153) (1,219) (1,461) (630)
Interest expense (170) (206) (153) (92)
Other income 581 335 479 353
Profit before tax 3,855 2,768 2,046 1,173
Taxes (1,092) (823) (574) (365)
Tax rate (28) (30) (28) (31)
Minorities and other (688) (429) (329) --
Adj. profit 2,075 1,516 1,144 808
Exceptional items -- -- (39) --
Net profit 2,095 1,516 1,105 808
yoy growth (%) 38.20 37.20 36.80 (46)
NPM 7.73 6.43 5.50 8.52
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Y/e 31 Mar ( In .Cr) Dec-2019 Dec-2017 Dec-2016 Dec-2015
Profit before tax 3,855 2,768 2,046 1,173
Depreciation (1,153) (1,219) (1,461) (630)
Tax paid (1,092) (823) (574) (365)
Working capital 4,482 1,379 (112) 390
Other operating items -- -- -- --
Operating cashflow 6,093 2,104 (100) 568
Capital expenditure 15,806 13,282 11,940 586
Free cash flow 21,899 15,386 11,840 1,154
Equity raised 29,732 28,051 27,877 19,348
Investments (656) (1,428) (1,539) 52.20
Debt financing/disposal 79.30 61 49.90 47.60
Dividends paid 298 715 318 435
Other items -- -- -- --
Net in cash 51,351 42,785 38,546 21,036
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Y/e 31 Mar ( In .Cr) Dec-2019 Dec-2018 Dec-2017 Dec-2016
Equity capital 397 397 397 397
Preference capital -- -- -- --
Reserves 23,681 21,973 20,275 19,424
Net worth 24,078 22,370 20,672 19,821
Minority interest
Debt 41.10 39.70 24.10 29
Deferred tax liabilities (net) 1,431 1,589 1,671 1,565
Total liabilities 31,287 29,230 26,975 25,785
Fixed assets 22,256 21,644 21,565 21,992
Intangible assets
Investments 150 133 153 175
Deferred tax asset (net) 499 478 533 549
Net working capital (972) 536 (1,507) (1,496)
Inventories 2,097 2,958 2,458 2,164
Inventory Days 28.20 -- 38 39.30
Sundry debtors 1,069 1,305 932 924
Debtor days 14.40 -- 14.40 16.80
Other current assets 5,313 4,912 4,169 3,005
Sundry creditors (2,576) (3,216) (2,970) (2,230)
Creditor days 34.70 -- 45.90 40.50
Other current liabilities (6,873) (5,422) (6,096) (5,359)
Cash 9,355 6,439 6,232 4,564
Total assets 31,287 29,230 26,975 25,785
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Particulars ( Rupees In Crores.) Sep-2020 Sep-2019 Sep-2018 Sep-2017 Sep-2016
Gross Sales 17,063 19,977 19,312 19,120 17,357
Excise Duty -- -- -- 1,684 2,159
Net Sales 17,063 19,977 19,312 17,436 15,198
Other Operating Income -- -- -- -- --
Other Income 358 499 257 237 403
Total Income 17,421 20,476 19,570 17,673 15,601
Total Expenditure ** 13,400 16,497 16,257 14,564 12,642
PBIDT 4,021 3,979 3,313 3,109 2,959
Interest 99.50 117 130 152 119
PBDT 3,922 3,862 3,183 2,958 2,840
Depreciation 879 843 862 917 1,135
Minority Interest Before NP -- -- -- -- --
Tax 956 1,040 732 567 589
Deferred Tax (51) (81) (5.10) 6.78 (48)
Reported Profit After Tax 2,139 2,061 1,595 1,466 1,164
Minority Interest After NP 505 557 392 -- --
Net Profit after Minority Interest 1,633 1,503 1,203 1,466 1,164
Extra-ordinary Items -- -- (32) -- --
Adjusted Profit After Extra-ordinary item 1,633 1,503 1,236 1,466 1,164
EPS (Unit Curr.) 8.23 7.57 6.06 5.58 4.43
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 850 -- -- 80 80
Equity 397 397 397 397 397
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(%) 23.60 19.90 17.20 17.80 19.50
PBDTM(%) 23 19.30 16.50 17 18.70
PATM(%) 12.50 10.30 8.26 8.41 7.66