Cera Sanitaryware Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 3.24 17.50 9.95 --
Op profit growth (6.70) 1.02 24.30 --
EBIT growth (12) (2) 24.50 --
Net profit growth 9.77 1.41 21.90 --
Profitability ratios (%)        
OPM 13.50 15 17.40 15.40
EBIT margin 11.80 13.90 16.70 14.70
Net profit margin 9.26 8.70 10.10 9.10
RoCE 17.10 23 27.70 --
RoNW 3.99 4.49 5.39 --
RoA 3.35 3.60 4.19 --
Per share ratios ()        
EPS 85 81.60 77 62.30
Dividend per share 13 12 12 9
Cash EPS 57.30 58.50 61.20 51.60
Book value per share 609 482 401 324
Valuation ratios        
P/E 27.20 42.20 39.10 29.50
P/CEPS 40.30 58.90 49.20 35.60
P/B 3.89 7.40 7.51 5.68
EV/EBIDTA 16.80 23.60 20.90 15.90
Payout (%)        
Dividend payout 18 15.10 15.30 17
Tax payout (18) (31) (37) (36)
Liquidity ratios        
Debtor days 73.20 75.30 74 --
Inventory days 65.10 52.80 51.60 --
Creditor days (33) (32) (33) --
Leverage ratios        
Interest coverage (14) (17) (17) (25)
Net debt / equity 0.11 0.08 0.12 0.02
Net debt / op. profit 0.54 0.29 0.36 0.05
Cost breakup ()        
Material costs (45) (44) (43) (48)
Employee costs (14) (13) (12) (12)
Other costs (28) (29) (27) (24)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 1,224 1,185 1,009 917
yoy growth (%) 3.24 17.50 9.95 --
Raw materials (550) (516) (437) (441)
As % of sales 45 43.50 43.40 48.10
Employee costs (171) (149) (125) (111)
As % of sales 14 12.60 12.40 12.10
Other costs (337) (343) (271) (224)
As % of sales 27.60 28.90 26.80 24.40
Operating profit 165 177 176 141
OPM 13.50 15 17.40 15.40
Depreciation (39) (27) (22) (16)
Interest expense (10) (9.80) (9.80) (5.50)
Other income 18.20 14.40 14.60 9.97
Profit before tax 135 155 158 129
Taxes (24) (49) (58) (46)
Tax rate (18) (31) (37) (36)
Minorities and other 2.72 (2.90) 1.60 --
Adj. profit 113 103 102 83.50
Exceptional items -- -- -- --
Net profit 113 103 102 83.50
yoy growth (%) 9.77 1.41 21.90 --
NPM 9.26 8.70 10.10 9.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 135 155 158 129
Depreciation (39) (27) (22) (16)
Tax paid (24) (49) (58) (46)
Working capital 59.60 43.40 (43) --
Other operating items -- -- -- --
Operating cashflow 131 122 34.60 --
Capital expenditure 309 40.30 (40) --
Free cash flow 441 163 (5.70) --
Equity raised 1,103 1,048 1,008 --
Investments 181 17.80 (18) --
Debt financing/disposal 24.20 (9.50) 32.70 --
Dividends paid 16.90 15.60 15.60 11.70
Other items -- -- -- --
Net in cash 1,766 1,235 1,033 --
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 6.50 6.50 6.50 6.50
Preference capital 20.80 20.80 20.80 --
Reserves 764 694 599 516
Net worth 792 722 626 522
Minority interest
Debt 90.90 69.80 75.40 102
Deferred tax liabilities (net) 42.70 54.10 50 45.10
Total liabilities 933 856 759 673
Fixed assets 439 405 365 345
Intangible assets
Investments 228 178 109 90.80
Deferred tax asset (net) 12.70 10.50 11 4.22
Net working capital 251 252 250 194
Inventories 243 216 194 149
Inventory Days 72.50 -- 59.60 54.10
Sundry debtors 223 298 268 221
Debtor days 66.50 -- 82.50 79.90
Other current assets 84 82.90 86.40 99.50
Sundry creditors (95) (111) (95) (85)
Creditor days 28.40 -- 29.10 30.70
Other current liabilities (204) (234) (203) (191)
Cash 2.14 11 23.60 38.90
Total assets 933 856 759 673
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 146 298 325 329 271
Excise Duty -- -- -- -- --
Net Sales 146 298 325 329 271
Other Operating Income -- -- -- -- --
Other Income 7.01 5.23 5.03 4.70 3.26
Total Income 153 303 330 334 274
Total Expenditure ** 142 256 280 286 236
PBIDT 10.80 47.50 49.90 47.80 38.50
Interest 2.32 2.65 2.48 2.41 2.51
PBDT 8.47 44.90 47.40 45.40 36
Depreciation 9.66 10.60 9.59 9.52 9.11
Minority Interest Before NP -- -- -- -- --
Tax -- 12.20 9.90 5.90 9.09
Deferred Tax 0.48 (14) (0.30) 0.44 0.64
Reported Profit After Tax (1.70) 35.70 28.20 29.50 17.20
Minority Interest After NP (2.30) (1.40) (0.10) (0.30) --
Net Profit after Minority Interest 0.46 37.20 28.40 29.60 17.20
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 0.46 37.20 28.40 29.60 17.20
EPS (Unit Curr.) 0.35 28.60 21.80 22.70 13.90
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 260 -- -- --
Equity 6.50 6.50 6.50 6.50 6.50
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(%) 7.39 16 15.30 14.50 14.20
PBDTM(%) 5.80 15.10 14.60 13.80 13.30
PATM(%) (1.10) 12 8.68 8.95 6.33