Bodal Chemicals Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 20.40 (7.50) 35.70 (13)
Op profit growth (29) (14) 50.90 (19)
EBIT growth (37) (7.60) 52.70 (18)
Net profit growth (29) (7.80) 54.60 (6.30)
Profitability ratios (%)        
OPM 10 17 18.30 16.50
EBIT margin 8.75 16.80 16.80 14.90
Net profit margin 6.37 10.70 10.80 9.45
RoCE 11.20 26.60 44.70 34.10
RoNW 2.69 5.78 11.10 10.30
RoA 2.04 4.25 7.16 5.38
Per share ratios ()        
EPS 7.08 10.20 12.20 7.76
Dividend per share 0.80 0.80 0.80 0.60
Cash EPS 4.89 9.04 9.53 5.52
Book value per share 76.30 57 33.20 21.50
Valuation ratios        
P/E 5.97 11.90 13.20 9.44
P/CEPS 8.64 13.50 16.80 13.30
P/B 0.55 2.13 4.82 3.41
EV/EBIDTA 5.10 8.15 7.96 5.80
Payout (%)        
Dividend payout 11.20 7.98 2.46 9.16
Tax payout (14) (33) (36) (36)
Liquidity ratios        
Debtor days 97.90 75.40 52.50 73
Inventory days 44.10 39 32.60 33.60
Creditor days (55) (63) (49) (53)
Leverage ratios        
Interest coverage (6.30) (36) (24) (11)
Net debt / equity 0.26 0.25 0.37 0.59
Net debt / op. profit 1.73 0.90 0.59 0.93
Cost breakup ()        
Material costs (64) (62) (65) (63)
Employee costs (6.30) (4.10) (3.40) (4)
Other costs (19) (17) (14) (17)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 1,375 1,142 1,234 910
yoy growth (%) 20.40 (7.50) 35.70 (13)
Raw materials (883) (706) (797) (571)
As % of sales 64.20 61.80 64.60 62.70
Employee costs (87) (47) (42) (37)
As % of sales 6.34 4.13 3.39 4.04
Other costs (267) (195) (169) (153)
As % of sales 19.40 17.10 13.70 16.80
Operating profit 138 194 226 150
OPM 10 17 18.30 16.50
Depreciation (28) (12) (29) (26)
Interest expense (19) (5.30) (8.70) (12)
Other income 10.40 9.49 10.50 12
Profit before tax 101 186 199 124
Taxes (15) (62) (71) (45)
Tax rate (14) (33) (36) (36)
Minorities and other 1.01 (2) -- --
Adj. profit 87.60 123 128 79.20
Exceptional items -- -- 4.85 6.76
Net profit 87.60 123 133 86
yoy growth (%) (29) (7.80) 54.60 (6.30)
NPM 6.37 10.70 10.80 9.45
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 101 186 199 124
Depreciation (28) (12) (29) (26)
Tax paid (15) (62) (71) (45)
Working capital 450 250 117 (76)
Other operating items -- -- -- --
Operating cashflow 509 362 216 (22)
Capital expenditure 413 120 (109) 70.60
Free cash flow 922 482 107 48.60
Equity raised 893 598 209 151
Investments 2.51 16.70 16.70 0.97
Debt financing/disposal 36.40 (124) (186) (170)
Dividends paid 9.79 9.78 3.27 6.55
Other items -- -- -- --
Net in cash 1,863 983 149 37.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 67.60 24.40 24.40 21.80
Preference capital -- 0.61 -- --
Reserves 864 805 673 341
Net worth 932 830 697 363
Minority interest
Debt 257 171 181 151
Deferred tax liabilities (net) 43.90 51.70 30.20 18.30
Total liabilities 1,238 1,053 909 534
Fixed assets 662 634 455 231
Intangible assets
Investments 3.19 6.17 16.90 17.40
Deferred tax asset (net) 21.60 16 5.78 0.15
Net working capital 532 387 425 269
Inventories 219 208 113 131
Inventory Days 58.20 -- 36.20 38.70
Sundry debtors 454 330 284 188
Debtor days 121 -- 90.60 55.70
Other current assets 96.70 103 197 123
Sundry creditors (212) (235) (163) (161)
Creditor days 56.40 -- 52.20 47.70
Other current liabilities (25) (18) (4.70) (12)
Cash 19.50 9.80 5.88 16.70
Total assets 1,238 1,053 909 534
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 1,375 1,424 1,166 1,339 976
Excise Duty -- -- 23.90 105 79
Net Sales 1,375 1,424 1,142 1,234 897
Other Operating Income -- -- -- -- 12.90
Other Income 10.40 13.40 9.49 15.40 18.70
Total Income 1,385 1,437 1,152 1,250 929
Total Expenditure ** 1,237 1,187 948 1,008 760
PBIDT 148 249 204 241 169
Interest 19 9.08 5.31 8.70 12.20
PBDT 129 240 199 233 156
Depreciation 27.80 21.30 12.10 28.90 25.80
Minority Interest Before NP -- -- -- -- --
Tax 28 61.90 55.30 67.60 41.40
Deferred Tax (13) 15.10 6.57 3.28 3.11
Reported Profit After Tax 86.60 142 125 133 86
Minority Interest After NP (1) (1.90) (0.60) -- --
Net Profit after Minority Interest 87.60 143 123 133 86
Extra-ordinary Items -- -- -- 3.16 4.45
Adjusted Profit After Extra-ordinary item 87.60 143 123 130 81.50
EPS (Unit Curr.) 7.16 11.60 10.60 12.20 7.88
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 40 40 40 40 30
Equity 24.50 24.40 24.40 21.80 21.80
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(%) 10.80 17.50 17.80 19.60 18.80
PBDTM(%) 9.39 16.90 17.40 18.90 17.40
PATM(%) 6.30 9.99 10.90 10.80 9.59