Aries Agro Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 1.67 15.40 (3.90) (14)
Op profit growth (13) 17.80 (15) (17)
EBIT growth (8.70) 29.10 (4.20) (21)
Net profit growth (7.10) 48.50 (2.30) (57)
Profitability ratios (%)        
OPM 13.40 15.70 15.40 17.50
EBIT margin 14.10 15.70 14 14
Net profit margin 3.29 3.60 2.80 2.75
RoCE 11.20 12.30 9.27 9.30
RoNW 1.29 1.46 0.98 0.99
RoA 0.66 0.71 0.46 0.46
Per share ratios ()        
EPS 6.64 6.99 4.19 6.14
Dividend per share 0.50 2.30 2 1.50
Cash EPS 3.37 6.32 0.29 (2.60)
Book value per share 149 141 135 142
Valuation ratios        
P/E 6.02 25.20 36.90 14.70
P/CEPS 11.90 27.90 541 (35)
P/B 0.27 1.25 1.15 0.63
EV/EBIDTA 4.21 8.14 7.79 5.97
Payout (%)        
Dividend payout -- 28.50 36.80 34.30
Tax payout (46) (46) (54) (33)
Liquidity ratios        
Debtor days 184 203 200 184
Inventory days 163 168 205 199
Creditor days (83) (69) (55) (58)
Leverage ratios        
Interest coverage (1.60) (1.60) (1.50) (1.50)
Net debt / equity 0.75 0.88 0.72 0.90
Net debt / op. profit 3.68 3.50 3.24 3.60
Cost breakup ()        
Material costs (42) (51) (47) (48)
Employee costs (13) (9.70) (11) (9.80)
Other costs (31) (24) (26) (25)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 296 291 253 263
yoy growth (%) 1.67 15.40 (3.90) (14)
Raw materials (125) (147) (119) (126)
As % of sales 42.20 50.60 46.90 48
Employee costs (40) (28) (28) (26)
As % of sales 13.40 9.74 11.20 9.82
Other costs (92) (70) (67) (65)
As % of sales 30.90 23.90 26.40 24.70
Operating profit 39.80 45.90 38.90 46
OPM 13.40 15.70 15.40 17.50
Depreciation (5.40) (2.30) (6.70) (11)
Interest expense (26) (29) (23) (25)
Other income 7.24 1.99 3.06 1.42
Profit before tax 16.10 16.70 11.90 12.20
Taxes (7.50) (7.60) (6.50) (4)
Tax rate (46) (46) (54) (33)
Minorities and other 1.10 1.40 1.61 (0.90)
Adj. profit 9.74 10.50 7.06 7.23
Exceptional items -- -- -- --
Net profit 9.74 10.50 7.06 7.23
yoy growth (%) (7.10) 48.50 (2.30) (57)
NPM 3.29 3.60 2.80 2.75
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 16.10 16.70 11.90 12.20
Depreciation (5.40) (2.30) (6.70) (11)
Tax paid (7.50) (7.60) (6.50) (4)
Working capital 94 75.90 2.11 24.80
Other operating items -- -- -- --
Operating cashflow 97.30 82.70 0.87 22.30
Capital expenditure (18) 53.30 9.82 22.60
Free cash flow 79.50 136 10.70 44.90
Equity raised 288 289 304 331
Investments 58 (1.70) (1.80) 0.20
Debt financing/disposal 86.40 95.20 89.40 146
Dividends paid -- 2.99 2.60 1.95
Other items -- -- -- --
Net in cash 512 522 405 523
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 13 13 13 13
Preference capital -- -- -- --
Reserves 181 176 170 162
Net worth 194 189 183 175
Minority interest
Debt 150 172 171 137
Deferred tax liabilities (net) 5.02 4.82 4.99 4.23
Total liabilities 358 390 385 355
Fixed assets 60.10 110 101 93.20
Intangible assets
Investments 59.40 -- -- --
Deferred tax asset (net) 0.76 0.96 0.47 0.41
Net working capital 234 270 273 250
Inventories 138 130 127 142
Inventory Days 170 -- 159 205
Sundry debtors 116 186 182 142
Debtor days 143 -- 228 206
Other current assets 109 60 56 61.80
Sundry creditors (58) (56) (58) (35)
Creditor days 72 -- 72.50 50.50
Other current liabilities (71) (50) (35) (60)
Cash 4.07 8.67 10.40 11.10
Total assets 358 390 385 355
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 119 86.70 55.50 83.60 92.70
Excise Duty -- -- -- -- --
Net Sales 119 86.70 55.50 83.60 92.70
Other Operating Income 0.03 0.02 2.12 3.55 1.84
Other Income -- -- -- -- --
Total Income 119 86.70 57.60 87.10 94.50
Total Expenditure ** 93.70 71.30 57.80 74.50 72.40
PBIDT 25.10 15.40 (0.10) 12.60 22.20
Interest 6.90 6.39 7.21 6.64 6.69
PBDT 18.20 9.03 (7.30) 5.97 15.50
Depreciation 1.08 1.35 3.35 0.79 0.62
Minority Interest Before NP -- -- -- -- --
Tax 4.49 2.11 (1.40) 0.99 4.44
Deferred Tax 0.70 0.17 1.12 (0.40) (0.60)
Reported Profit After Tax 11.90 5.39 (10) 4.61 11
Minority Interest After NP (0.40) (0.40) (0.30) (0.40) (0.70)
Net Profit after Minority Interest 12.10 5.67 (10) 4.74 11.40
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 12.10 5.67 (10) 4.74 11.40
EPS (Unit Curr.) 9.27 4.36 (7.90) 3.65 8.73
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- 5 -- --
Equity 13 13 13 13 13
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(%) 21.10 17.80 (0.20) 15.10 23.90
PBDTM(%) 15.30 10.40 (13) 7.15 16.70
PATM(%) 10 6.22 (19) 5.52 11.90