Balasore Alloys Financial Statements

Balasore Alloys Quarterly Results

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 19.60 20.70 (1.20) 8.34
Op profit growth (34) 119 (24) (12)
EBIT growth (14) 162 (45) 7.80
Net profit growth (59) 349 (36) (36)
Profitability ratios (%)        
OPM 9.83 17.70 9.78 12.80
EBIT margin 12.30 17.20 7.93 14.30
Net profit margin 2.81 8.26 2.22 3.44
RoCE 12.80 15.60 6.28 10.50
RoNW 0.90 2.29 0.52 0.80
RoA 0.73 1.88 0.44 0.63
Per share ratios ()        
EPS 3.65 9.41 2.16 3.83
Dividend per share 0.75 0.75 0.60 0.60
Cash EPS 0.40 6.36 (0.40) 1.10
Book value per share 103 105 109 123
Valuation ratios        
P/E 12.80 7.23 7.31 3.83
P/CEPS 117 10.70 (36) 13.40
P/B 0.45 0.65 0.14 0.12
EV/EBIDTA 3.13 3.95 2.72 1.49
Payout (%)        
Dividend payout 20.60 7.97 30.50 17.60
Tax payout (41) (38) (47) (15)
Liquidity ratios        
Debtor days 13.90 11.60 8.21 5.56
Inventory days 59.60 60.60 56.50 48.30
Creditor days (100) (117) (100) (86)
Leverage ratios        
Interest coverage (3.20) (4.40) (2.10) (3.40)
Net debt / equity 0.15 0.20 0.13 0.12
Net debt / op. profit 1.24 1.06 1.43 1
Cost breakup ()        
Material costs (37) (28) (32) (32)
Employee costs (5.80) (6.20) (6.80) (7.20)
Other costs (47) (48) (51) (48)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 1,210 1,012 838 848
yoy growth (%) 19.60 20.70 (1.20) 8.34
Raw materials (453) (288) (272) (268)
As % of sales 37.50 28.40 32.40 31.60
Employee costs (70) (63) (57) (61)
As % of sales 5.82 6.23 6.77 7.18
Other costs (568) (482) (427) (410)
As % of sales 46.90 47.60 51 48.40
Operating profit 119 179 81.90 108
OPM 9.83 17.70 9.78 12.80
Depreciation (30) (27) (22) (21)
Interest expense (46) (39) (32) (35)
Other income 60.70 22.20 6.77 33.80
Profit before tax 103 135 34.90 85.80
Taxes (42) (51) (16) (13)
Tax rate (41) (38) (47) (15)
Minorities and other -- -- -- --
Adj. profit 60.70 83.60 18.60 72.80
Exceptional items (27) -- -- (44)
Net profit 34 83.60 18.60 29.20
yoy growth (%) (59) 349 (36) (36)
NPM 2.81 8.26 2.22 3.44
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 103 135 34.90 85.80
Depreciation (30) (27) (22) (21)
Tax paid (42) (51) (16) (13)
Working capital (5.80) 8.48 (16) (6.20)
Other operating items -- -- -- --
Operating cashflow 24.50 65 (20) 45.60
Capital expenditure 80.60 (3.80) 75.90 34.20
Free cash flow 105 61.20 56.30 79.80
Equity raised 1,844 1,738 1,746 1,740
Investments 0.45 0.13 (4.20) (3.70)
Debt financing/disposal 131 138 249 239
Dividends paid 7 6.67 4.73 4.25
Other items -- -- -- --
Net in cash 2,088 1,944 2,052 2,059
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 46.70 46.70 44.50 50.30
Preference capital -- -- -- --
Reserves 882 919 888 847
Net worth 929 965 932 897
Minority interest
Debt 178 181 215 132
Deferred tax liabilities (net) 28.20 28.80 17.90 35
Total liabilities 1,135 1,175 1,165 1,064
Fixed assets 1,001 984 940 970
Intangible assets
Investments 17.60 17.50 16.60 12.20
Deferred tax asset (net) -- -- -- 19.20
Net working capital 88 140 182 47.50
Inventories 174 192 203 133
Inventory Days -- 58 73.30 57.80
Sundry debtors 51.10 52.40 39.90 24.60
Debtor days -- 15.80 14.40 10.70
Other current assets 461 419 445 272
Sundry creditors (356) (284) (315) (217)
Creditor days -- 85.60 114 94.60
Other current liabilities (243) (240) (191) (164)
Cash 28.70 33.60 26.10 15.10
Total assets 1,135 1,175 1,165 1,064
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Particulars ( Rupees In Crores.) Mar-2020 Dec-2019 Sep-2019 Jun-2019 Mar-2019
Gross Sales 132 155 197 284 307
Excise Duty -- -- -- -- --
Net Sales 132 155 197 284 307
Other Operating Income -- -- -- -- --
Other Income 2.77 14.50 3.96 1.94 3.41
Total Income 135 169 201 286 310
Total Expenditure ** 178 195 228 259 329
PBIDT (43) (26) (27) 26 (19)
Interest 12.90 11.50 12.80 12.50 9.39
PBDT (56) (37) (40) 13.50 (28)
Depreciation 8.11 7.58 7.03 7.56 8.10
Minority Interest Before NP -- -- -- -- --
Tax (18) (6.40) (19) 3.67 (9.60)
Deferred Tax -- -- -- -- --
Reported Profit After Tax (45) (38) (28) 2.29 (27)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (45) (38) (28) 2.29 (27)
Extra-ordinary Items -- (20) -- -- (37)
Adjusted Profit After Extra-ordinary item (45) (18) (28) 2.29 10.10
EPS (Unit Curr.) (4.80) (4.10) (3) 0.25 (2.80)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 46.70 46.70 46.70 46.70 46.70
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(%) (32) (17) (14) 9.18 (6.20)
PBDTM(%) (42) (24) (20) 4.77 (9.20)
PATM(%) (34) (25) (14) 0.81 (8.70)
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