Ashapura Minechem Financial Statements

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Y/e 31 Mar Mar-2019 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (22) (4.60) (53) 1.28
Op profit growth (378) (91) (86) (11)
EBIT growth (15) 868 (101) (16)
Net profit growth 633 139 (112) (545)
Profitability ratios (%)        
OPM (1.30) 0.38 4.14 13.40
EBIT margin (3.80) (3.50) (0.30) 11.50
Net profit margin (53) (5.70) (2.30) 9.14
RoCE (98) (20) (1.60) 151
RoNW 40.50 45.60 (56) (65)
RoA (341) (7.90) (2.60) 30.20
Per share ratios ()        
EPS -- -- -- 17.60
Dividend per share -- -- -- --
Cash EPS (42) (9.60) (7.70) 13.60
Book value per share (42) (5.40) (0.30) 2.21
Valuation ratios        
P/E -- -- -- 4.34
P/CEPS (0.70) (6.90) (9) 5.60
P/B (0.70) (12) (259) 34.40
EV/EBIDTA 45.30 69.40 15.40 3.23
Payout (%)        
Dividend payout -- -- -- 0.17
Tax payout 12 26.10 95.60 (25)
Liquidity ratios        
Debtor days 91.10 101 116 58
Inventory days 119 115 118 50.80
Creditor days (84) (87) (111) (56)
Leverage ratios        
Interest coverage 1.24 1.58 0.19 (9.80)
Net debt / equity (0.40) (3) (43) 7.01
Net debt / op. profit (18) 48 2.88 0.57
Cost breakup ()        
Material costs (42) (39) (34) (22)
Employee costs (9.50) (9.30) (8.80) (4.40)
Other costs (50) (51) (53) (60)
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Y/e 31 Mar( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Revenue 621 794 833 1,775
yoy growth (%) (22) (4.60) (53) 1.28
Raw materials (259) (314) (282) (387)
As % of sales 41.60 39.50 33.80 21.80
Employee costs (59) (74) (73) (78)
As % of sales 9.52 9.26 8.81 4.41
Other costs (312) (404) (443) (1,072)
As % of sales 50.20 50.90 53.20 60.40
Operating profit (8.30) 2.99 34.50 238
OPM (1.30) 0.38 4.14 13.40
Depreciation (33) (39) (48) (44)
Interest expense (19) (18) (16) (21)
Other income 17 7.39 11.10 8.96
Profit before tax (43) (46) (19) 182
Taxes (5.20) (12) (18) (45)
Tax rate 12 26.10 95.60 (25)
Minorities and other (4.10) -- 0.02 9.31
Adj. profit (52) (58) (36) 147
Exceptional items (291) (15) -- 15.40
Net profit (331) (45) (19) 162
yoy growth (%) 633 139 (112) (545)
NPM (53) (5.70) (2.30) 9.14
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Profit before tax (43) (46) (19) 182
Depreciation (33) (39) (48) (44)
Tax paid (5.20) (12) (18) (45)
Working capital (298) (144) (263) 1.35
Other operating items -- -- -- --
Operating cashflow (379) (241) (348) 95.10
Capital expenditure 39.50 121 79.90 53.80
Free cash flow (339) (120) (268) 149
Equity raised (410) (316) (118) (322)
Investments 174 262 182 83.80
Debt financing/disposal (127) 66.20 114 143
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (703) (108) (90) 53.20
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 17.40 17.40 17.40 17.40
Preference capital -- -- -- --
Reserves (378) (65) (20) 1.86
Net worth (361) (47) (2.30) 19.30
Minority interest
Debt 209 185 144 204
Deferred tax liabilities (net) -- -- 4.58 --
Total liabilities (90) 138 147 223
Fixed assets 263 329 340 456
Intangible assets
Investments 180 267 243 146
Deferred tax asset (net) 10.60 9.34 10.70 2.11
Net working capital (604) (510) (492) (450)
Inventories 161 245 254 285
Inventory Days 94.30 113 111 58.60
Sundry debtors 104 206 234 296
Debtor days 61.20 94.60 103 60.80
Other current assets 212 187 182 176
Sundry creditors (120) (169) (210) (274)
Creditor days 70.40 77.60 92.10 56.30
Other current liabilities (961) (979) (952) (933)
Cash 61 41.80 45.10 68.80
Total assets (90) 138 147 223
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 286 103 48.60 67.90 115
Excise Duty -- -- -- -- --
Net Sales 286 103 48.60 67.90 115
Other Operating Income -- -- -- -- --
Other Income 26.80 399 84.20 3.40 3.79
Total Income 313 502 133 71.30 119
Total Expenditure ** 259 118 65.40 97.40 110
PBIDT 54.10 383 67.50 (26) 8.14
Interest 10.60 10.50 10.90 5.42 4.14
PBDT 43.60 373 56.60 (32) 4.01
Depreciation 8.45 7.66 6.90 6.89 6.94
Minority Interest Before NP -- -- -- -- --
Tax 2.26 1.20 -- -- 0.02
Deferred Tax 0.45 (0.90) (1.70) 0.76 (0.50)
Reported Profit After Tax 32.40 365 51.30 (39) (2.50)
Minority Interest After NP 0.01 -- (2.10) (2) (0.30)
Net Profit after Minority Interest 36.40 368 54.50 (35) 0.69
Extra-ordinary Items 17.80 392 81.20 -- --
Adjusted Profit After Extra-ordinary item 18.60 (24) (27) (35) 0.69
EPS (Unit Curr.) 4.18 42.30 6.27 (4.10) 0.08
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 17.40 17.40 17.40 17.40 17.40
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(%) 18.90 372 139 (38) 7.09
PBDTM(%) 15.20 362 116 (46) 3.49
PATM(%) 11.30 354 105 (58) (2.20)