AXISCADES Results: AXISCADES Technologies Half Yearly Results

Y/e 31 Mar	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Growth matrix (%)
Revenue growth	(22)	29.60	6.65	29.70
Op profit growth	(30)	421	(55)	(27)
EBIT growth	(21)	379	(66)	(13)
Net profit growth	(173)	(461)	(158)	(51)
Profitability ratios (%)
OPM	12.20	13.60	3.39	7.96
EBIT margin	10	9.89	2.68	8.46
Net profit margin	(4.10)	4.42	(1.60)	2.90
RoCE	11.70	14.40	3.39	14.30
RoNW	(1.80)	2.45	(0.70)	1.54
RoA	(1.20)	1.61	(0.50)	1.23
Per share ratios ()
EPS	(5.60)	8.02	--	3.85
Dividend per share	--	--	--	--
Cash EPS	(13)	(0.80)	(7.10)	0.51
Book value per share	79	83.30	77.20	79.70
Valuation ratios
P/E	(7.10)	3.47	--	42
P/CEPS	(3.20)	(35)	(19)	319
P/B	0.51	0.33	1.80	2.03
EV/EBIDTA	2.17	2.08	18.40	11.60
Payout (%)
Dividend payout	--	--	--	--
Tax payout	(36)	(21)	(2,482)	(50)
Liquidity ratios
Debtor days	102	90.10	87.90	63.20
Inventory days	16.30	14.50	11.30	0.73
Creditor days	(40)	(32)	(29)	(19)
Leverage ratios
Interest coverage	(2.30)	(2.40)	(1)	(3.20)
Net debt / equity	0.06	0.32	0.26	0.03
Net debt / op. profit	0.30	1.11	4.31	0.24
Cost breakup ()
Material costs	(19)	(15)	(11)	(14)
Employee costs	(51)	(54)	(55)	(52)
Other costs	(18)	(17)	(31)	(27)

Y/e 31 Mar( In .Cr)	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Revenue	524	673	519	487
yoy growth (%)	(22)	29.60	6.65	29.70
Raw materials	(98)	(103)	(55)	(67)
As % of sales	18.80	15.20	10.60	13.80
Employee costs	(267)	(361)	(284)	(251)
As % of sales	50.90	53.70	54.60	51.60
Other costs	(95)	(117)	(163)	(130)
As % of sales	18.10	17.50	31.40	26.70
Operating profit	64	91.70	17.60	38.80
OPM	12.20	13.60	3.39	7.96
Depreciation	(26)	(33)	(19)	(12)
Interest expense	(23)	(28)	(14)	(13)
Other income	14.50	7.62	15.10	14.60
Profit before tax	30	38.20	0.20	28.30
Taxes	(11)	(8.10)	(5)	(14)
Tax rate	(36)	(21)	(2,482)	(50)
Minorities and other	(0.50)	(0.50)	(0.40)	(0.40)
Adj. profit	18.70	29.60	(5.30)	13.60
Exceptional items	(41)	--	(3)	0.52
Net profit	(22)	29.80	(8.20)	14.10
yoy growth (%)	(173)	(461)	(158)	(51)
NPM	(4.10)	4.42	(1.60)	2.90

Y/e 31 Mar ( In .Cr)	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Revenue	129	232	233	235
yoy growth (%)	(44)	(0.20)	(1)	(0.10)
Raw materials	--	--	--	--
As % of sales	--	--	--	--
Employee costs	(88)	(145)	(145)	(138)
As % of sales	67.70	62.30	62.50	58.80
Other costs	(38)	(59)	(81)	(71)
As % of sales	29.60	25.30	34.90	30.40
Operating profit	3.48	28.80	6.11	25.30
OPM	2.69	12.40	2.63	10.80
Depreciation	(12)	(13)	(14)	(9.90)
Interest expense	(15)	(19)	(7.20)	(1.70)
Other income	5.85	2.64	6.94	6.48
Profit before tax	(18)	(1)	(7.90)	20.10
Taxes	0.91	(3.50)	1.42	(6.80)
Tax rate	(5.10)	346	(18)	(34)
Minorities and other	--	--	--	--
Adj. profit	(17)	(4.50)	(6.40)	13.40
Exceptional items	(46)	--	(3)	(0.50)
Net profit	(63)	(4.50)	(9.40)	12.90
yoy growth (%)	1,311	(52)	(173)	(51)
NPM	(49)	(1.90)	(4)	5.50

Y/e 31 Mar ( In .Cr)	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Profit before tax	30	38.20	0.20	28.30
Depreciation	(26)	(33)	(19)	(12)
Tax paid	(11)	(8.10)	(5)	(14)
Working capital	(7.10)	23.20	69.20	100
Other operating items	--	--	--	--
Operating cashflow	(14)	20.60	45.60	102
Capital expenditure	371	355	295	85.60
Free cash flow	357	375	341	188
Equity raised	350	327	356	369
Investments	48.80	33.30	5.16	(0.40)
Debt financing/disposal	94.60	154	98.10	49.70
Dividends paid	--	--	--	--
Other items	--	--	--	--
Net in cash	851	890	800	606

Y/e 31 Mar ( In .Cr)	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Equity capital	19	18.90	18.90	18.90
Preference capital	--	--	--	--
Reserves	312	280	296	266
Net worth	331	299	315	285
Minority interest
Debt	72.10	104	172	152
Deferred tax liabilities (net)	0.33	0.34	0.17	--
Total liabilities	409	408	492	440
Fixed assets	286	288	355	340
Intangible assets
Investments	19.20	49.90	34.40	29.90
Deferred tax asset (net)	28.40	28.40	30.30	25.50
Net working capital	(30)	(43)	1.55	(13)
Inventories	52.70	23.30	23.50	22.90
Inventory Days	--	16.20	12.70	--
Sundry debtors	145	128	166	153
Debtor days	--	88.90	90.30	--
Other current assets	159	141	183	144
Sundry creditors	(70)	(51)	(50)	(36)
Creditor days	--	35.80	27.20	--
Other current liabilities	(317)	(283)	(321)	(297)
Cash	105	84.80	70.20	58.30
Total assets	409	408	492	440

Select Period

Particulars ( Rupees In Crores.)	Mar-2022	Sep-2021	Mar-2021	Sep-2020	Mar-2020
Gross Sales	361	247	271	246	356
Excise Duty	--	--	--	--	--
Net Sales	361	247	271	246	356
Other Operating Income	1.44	0.46	3.45	3.01	4.94
Other Income	3.11	5.99	6.23	8.68	3.68
Total Income	366	254	281	258	364
Total Expenditure **	316	226	257	244	302
PBIDT	49.70	27.90	24.10	14	61.90
Interest	7.67	8.08	9.94	12.60	14.30
PBDT	42	19.80	14.10	1.47	47.60
Depreciation	13.40	11.70	12.10	13.90	18.70
Minority Interest Before NP	--	--	--	--	--
Tax	10.70	2.89	6.15	3.36	7.47
Deferred Tax	(0.60)	1.09	0.82	0.50	(3.10)
Reported Profit After Tax	18.60	4.11	(4.90)	(16)	24.50
Minority Interest After NP	0.22	0.22	0.22	0.24	0.27
Net Profit after Minority Interest	18.40	3.88	(5.10)	(17)	24.30
Extra-ordinary Items	(1.70)	--	(20)	(17)	--
Adjusted Profit After Extra-ordinary item	20	3.88	14.70	0.59	24.30
EPS (Unit Curr.)	4.84	1.03	--	(4.40)	6.42
Book Value (Unit Curr.)	--	--	--	--	--
Dividend (%)	--	--	--	--	--
Equity	19	18.90	18.90	18.90	18.90
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(%)	13.80	11.30	8.89	5.69	17.40
PBDTM(%)	--	--	--	--	--
PATM(%)	5.14	1.66	(1.80)	(6.60)	6.90