DCM Shriram Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 12.60 19.20 0.14 2.51
Op profit growth 15.20 34.20 52.70 26.60
EBIT growth 13.20 35 57.30 31.60
Net profit growth 7.04 21.40 82.80 43.10
Profitability ratios (%)        
OPM 15.40 15 13.30 8.74
EBIT margin 13.90 13.80 12.20 7.74
Net profit margin 9.23 9.70 9.53 5.22
RoCE 19.80 23.60 19.40 14.40
RoNW 5.05 6.01 5.97 3.82
RoA 3.30 4.16 3.80 2.43
Per share ratios ()        
EPS 45.90 41 33.80 17.80
Dividend per share 8.20 8.20 5.80 3.20
Cash EPS 30.40 31 26.80 12.50
Book value per share 247 178 155 128
Valuation ratios        
P/E 4.69 10.30 8.71 7.79
P/CEPS 7.08 13.70 11 11.10
P/B 0.87 2.38 1.90 1.09
EV/EBIDTA 3.82 6.87 6.91 6.02
Payout (%)        
Dividend payout -- 19.90 17.60 18.10
Tax payout (19) (23) (13) (17)
Liquidity ratios        
Debtor days 46.60 50.50 72.20 74.40
Inventory days 90 86.40 92.60 77.40
Creditor days (57) (70) (84) (79)
Leverage ratios        
Interest coverage (6.60) (11) (9.90) (5.20)
Net debt / equity 0.39 0.20 0.34 0.49
Net debt / op. profit 1.33 0.59 1.12 2.03
Cost breakup ()        
Material costs (49) (54) (53) (59)
Employee costs (9.50) (8.70) (9.20) (8.40)
Other costs (26) (23) (25) (24)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 7,767 6,900 5,788 5,780
yoy growth (%) 12.60 19.20 0.14 2.51
Raw materials (3,815) (3,694) (3,043) (3,409)
As % of sales 49.10 53.50 52.60 59
Employee costs (736) (599) (533) (488)
As % of sales 9.47 8.68 9.20 8.44
Other costs (2,024) (1,572) (1,442) (1,379)
As % of sales 26.10 22.80 24.90 23.80
Operating profit 1,192 1,035 771 505
OPM 15.40 15 13.30 8.74
Depreciation (219) (141) (114) (98)
Interest expense (164) (83) (71) (85)
Other income 102 56.10 46.80 40.70
Profit before tax 912 867 633 362
Taxes (178) (199) (80) (62)
Tax rate (19) (23) (13) (17)
Minorities and other (2.70) 0.90 (0.70) 1.32
Adj. profit 731 670 552 302
Exceptional items (15) -- -- --
Net profit 717 670 552 302
yoy growth (%) 7.04 21.40 82.80 43.10
NPM 9.23 9.70 9.53 5.22
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 912 867 633 362
Depreciation (219) (141) (114) (98)
Tax paid (178) (199) (80) (62)
Working capital 1,738 110 (239) 95.40
Other operating items -- -- -- --
Operating cashflow 2,253 638 200 298
Capital expenditure 1,006 (631) (631) (1,355)
Free cash flow 3,259 7.76 (432) (1,057)
Equity raised 4,573 3,752 3,502 3,456
Investments 16.20 19.20 23.80 (168)
Debt financing/disposal 1,615 (462) 11 131
Dividends paid -- 133 96.80 45.50
Other items -- -- -- --
Net in cash 9,462 3,450 3,201 2,408
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 24.10 23.90 24.70 24.70
Preference capital -- -- -- --
Reserves 4,026 3,502 3,015 2,503
Net worth 4,050 3,526 3,040 2,528
Minority interest
Debt 2,150 1,610 756 1,074
Deferred tax liabilities (net) 500 424 368 278
Total liabilities 6,706 5,560 4,164 3,882
Fixed assets 3,558 3,022 2,327 2,086
Intangible assets
Investments 28.80 30.80 29.80 30.90
Deferred tax asset (net) 556 491 435 359
Net working capital 2,002 1,600 1,223 1,195
Inventories 2,177 1,925 1,652 1,616
Inventory Days 102 -- 87.40 102
Sundry debtors 1,079 1,039 904 1,004
Debtor days 50.70 -- 47.80 63.30
Other current assets 676 636 523 545
Sundry creditors (927) (1,144) (1,118) (1,146)
Creditor days 43.60 -- 59.10 72.30
Other current liabilities (1,002) (856) (737) (824)
Cash 560 416 149 212
Total assets 6,706 5,560 4,164 3,882
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Particulars ( Rupees In Crores.) Dec-2020 Sep-2020 Jun-2020 Mar-2020 Dec-2019
Gross Sales 2,150 2,041 1,908 1,863 2,188
Excise Duty -- -- -- -- --
Net Sales 2,150 2,041 1,908 1,863 2,188
Other Operating Income 8.30 6.25 4.08 54.20 6.31
Other Income 17 17.70 26.50 11.50 34.90
Total Income 2,176 2,065 1,938 1,929 2,229
Total Expenditure ** 1,755 1,825 1,746 1,574 1,921
PBIDT 421 240 192 355 308
Interest 28.50 25.60 43.20 46.60 38.20
PBDT 392 214 149 308 270
Depreciation 55.70 59.80 59.30 60 55.60
Minority Interest Before NP -- -- -- -- --
Tax 73.70 30.30 12.50 23.80 23.70
Deferred Tax 10.50 5.44 7.24 16.70 16.50
Reported Profit After Tax 253 118 70.10 207 174
Minority Interest After NP -- -- 0.71 6.29 (0.20)
Net Profit after Minority Interest 253 119 69.10 201 175
Extra-ordinary Items -- -- -- (0.10) (12)
Adjusted Profit After Extra-ordinary item 253 119 69.10 201 187
EPS (Unit Curr.) 16.30 7.63 4.43 12.90 11.30
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 275 -- -- -- 210
Equity 31.40 31.40 31.40 31.40 31.40
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(%) 19.60 11.70 10.10 19 14.10
PBDTM(%) 18.20 10.50 7.81 16.50 12.30
PATM(%) 11.70 5.80 3.67 11.10 7.97