APL Apollo Tubes Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 44.80 36 (6.90) 34.30
Op profit growth 28.60 11.40 18.20 55.10
EBIT growth 23.90 13.10 11.70 57.10
Net profit growth 50.50 3.96 51.20 57.80
Profitability ratios (%)        
OPM 6.18 6.96 8.49 6.68
EBIT margin 5.23 6.10 7.34 6.12
Net profit margin 3.08 2.96 3.88 2.39
RoCE 19.60 20.90 21.30 21.90
RoNW 5.42 5.13 5.98 4.73
RoA 2.89 2.54 2.82 2.13
Per share ratios ()        
EPS 103 66.60 64.50 40.90
Dividend per share -- 14 12 10
Cash EPS 57.10 44.10 42.90 28.40
Book value per share 545 353 298 242
Valuation ratios        
P/E 12.10 29.90 18.20 16.30
P/CEPS 21.80 45.20 27.30 23.40
P/B 2.29 5.65 3.93 2.75
EV/EBIDTA 7.78 14.50 9.89 7.56
Payout (%)        
Dividend payout -- 21 18.60 28
Tax payout (14) (35) (30) (33)
Liquidity ratios        
Debtor days 21.50 24.90 24 17.10
Inventory days 32.50 36.30 49.50 39.60
Creditor days (29) (29) (34) (22)
Leverage ratios        
Interest coverage (3.80) (4) (4) (3.70)
Net debt / equity 0.58 0.92 0.84 1.14
Net debt / op. profit 1.65 2.07 1.78 2.30
Cost breakup ()        
Material costs (85) (85) (82) (84)
Employee costs (1.80) (1.60) (1.90) (1.50)
Other costs (6.80) (6.20) (7.20) (7.40)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 7,723 5,335 3,924 4,214
yoy growth (%) 44.80 36 (6.90) 34.30
Raw materials (6,579) (4,548) (3,232) (3,559)
As % of sales 85.20 85.30 82.40 84.50
Employee costs (142) (86) (75) (63)
As % of sales 1.84 1.62 1.92 1.50
Other costs (525) (329) (283) (310)
As % of sales 6.80 6.17 7.22 7.36
Operating profit 477 371 333 282
OPM 6.18 6.96 8.49 6.68
Depreciation (96) (53) (51) (34)
Interest expense (107) (81) (72) (70)
Other income 22.20 8.01 5.97 10.30
Profit before tax 296 244 216 188
Taxes (40) (86) (64) (62)
Tax rate (14) (35) (30) (33)
Minorities and other (18) -- -- --
Adj. profit 238 158 152 126
Exceptional items -- -- -- (25)
Net profit 238 158 152 101
yoy growth (%) 50.50 3.96 51.20 57.80
NPM 3.08 2.96 3.88 2.39
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 296 244 216 188
Depreciation (96) (53) (51) (34)
Tax paid (40) (86) (64) (62)
Working capital 394 383 18 77
Other operating items -- -- -- --
Operating cashflow 554 488 119 169
Capital expenditure 1,757 735 354 298
Free cash flow 2,311 1,223 473 466
Equity raised 1,314 970 903 869
Investments (0.80) 1.06 (0.80) (4.40)
Debt financing/disposal 595 465 149 146
Dividends paid -- 33.20 28.30 23.40
Other items -- -- -- --
Net in cash 4,219 2,691 1,553 1,500
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 24.90 23.90 23.70 23.60
Preference capital -- -- -- --
Reserves 1,331 940 814 680
Net worth 1,356 964 838 703
Minority interest
Debt 834 858 775 594
Deferred tax liabilities (net) 108 126 111 95.30
Total liabilities 2,394 1,948 1,724 1,393
Fixed assets 1,718 1,061 932 792
Intangible assets
Investments 1.52 49.40 1.11 0.44
Deferred tax asset (net) 6.48 6.18 11.60 14
Net working capital 622 784 773 585
Inventories 784 784 591 470
Inventory Days 37.10 -- 40.50 43.70
Sundry debtors 476 543 432 295
Debtor days 22.50 -- 29.60 27.40
Other current assets 240 289 218 286
Sundry creditors (767) (708) (390) (404)
Creditor days 36.30 -- 26.70 37.60
Other current liabilities (111) (124) (79) (62)
Cash 45.60 47.80 6.80 1.57
Total assets 2,394 1,948 1,724 1,393
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Particulars ( Rupees In Crores.) Mar-2020 Sep-2019 Mar-2019 Sep-2018 Mar-2018
Gross Sales 3,849 3,577 3,646 3,249 2,730
Excise Duty -- -- -- -- --
Net Sales 3,849 3,577 3,646 3,249 2,730
Other Operating Income 155 141 140 118 103
Other Income 13 9.17 6.08 5.63 3.98
Total Income 4,017 3,728 3,791 3,373 2,838
Total Expenditure ** 3,724 3,522 3,587 3,172 2,643
PBIDT 293 206 204 201 195
Interest 52.10 55.10 56.10 57.30 42.90
PBDT 241 151 148 143 152
Depreciation 51.70 44.20 32.90 31.40 28.90
Minority Interest Before NP -- -- -- -- --
Tax 42.50 23.20 29.10 35.80 30.80
Deferred Tax 3.02 (28) 11.40 2.38 14
Reported Profit After Tax 144 112 74.60 73.70 78.60
Minority Interest After NP 13 5.07 -- -- --
Net Profit after Minority Interest 131 107 74.60 73.70 78.60
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 131 107 74.60 73.70 78.60
EPS (Unit Curr.) 52.70 46.20 31.30 31 33.10
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 24.90 24.30 23.90 23.70 23.70
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(%) 7.62 5.76 5.60 6.17 7.14
PBDTM(%) -- -- -- -- --
PATM(%) 3.74 3.13 2.05 2.27 2.88