Electrosteel Castings Financial Statements

Electrosteel Castings Half Yearly Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 28 24.30 4.89 (5.70)
Op profit growth 17.70 42.30 (11) 6.38
EBIT growth 16.30 24.50 (15) 38.20
Net profit growth (191) 29.90 (14) (625)
Profitability ratios (%)        
OPM 12.40 13.50 11.80 13.90
EBIT margin 11.50 12.60 12.60 15.50
Net profit margin (4.20) 5.94 5.69 6.93
RoCE 7.09 7.29 5.93 6.57
RoNW (1.30) 1.50 1.28 1.48
RoA (0.60) 0.86 0.67 0.74
Per share ratios ()        
EPS (2.30) 1.99 1.84 2.17
Dividend per share 0.25 0.30 0.30 0.50
Cash EPS (5.50) 2.40 1.73 2.16
Book value per share 66.30 66.50 69.40 66.80
Valuation ratios        
P/E (11) 4.61 13.30 15.90
P/CEPS (4.60) 3.82 14.10 16
P/B 0.38 0.14 0.35 0.52
EV/EBIDTA 5.54 5.09 6.94 7.55
Payout (%)        
Dividend payout -- -- 8.63 12.40
Tax payout (22) (25) 1.68 (30)
Liquidity ratios        
Debtor days 72.90 76.90 82.30 87.50
Inventory days 112 101 104 107
Creditor days (54) (57) (59) (62)
Leverage ratios        
Interest coverage (1.90) (1.50) (1.30) (1.50)
Net debt / equity 0.57 0.57 0.59 0.71
Net debt / op. profit 3.78 4.47 5.71 5.90
Cost breakup ()        
Material costs (47) (43) (47) (44)
Employee costs (9) (8.40) (11) (11)
Other costs (31) (35) (30) (30)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 3,471 2,711 2,181 2,079
yoy growth (%) 28 24.30 4.89 (5.70)
Raw materials (1,636) (1,177) (1,030) (924)
As % of sales 47.10 43.40 47.20 44.40
Employee costs (313) (227) (237) (237)
As % of sales 9.03 8.36 10.90 11.40
Other costs (1,090) (941) (656) (630)
As % of sales 31.40 34.70 30.10 30.30
Operating profit 431 366 257 288
OPM 12.40 13.50 11.80 13.90
Depreciation (91) (57) (62) (67)
Interest expense (211) (228) (210) (210)
Other income 58.20 33.20 79.90 100
Profit before tax 187 114 64.50 111
Taxes (40) (28) 1.08 (34)
Tax rate (22) (25) 1.68 (30)
Minorities and other (49) 74.80 58.40 66.50
Adj. profit 98.40 161 124 144
Exceptional items (244) -- -- --
Net profit (146) 161 124 144
yoy growth (%) (191) 29.90 (14) (625)
NPM (4.20) 5.94 5.69 6.93
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 187 114 64.50 111
Depreciation (91) (57) (62) (67)
Tax paid (40) (28) 1.08 (34)
Working capital 973 (196) (188) (21)
Other operating items -- -- -- --
Operating cashflow 1,029 (167) (185) (10)
Capital expenditure 2,194 332 116 33.50
Free cash flow 3,222 165 (69) 23.60
Equity raised 4,645 4,880 4,499 4,257
Investments (872) (235) (202) (176)
Debt financing/disposal 812 (104) (595) (338)
Dividends paid -- -- 10.70 17.80
Other items -- -- -- --
Net in cash 7,808 4,706 3,643 3,785
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 43.30 43.30 40.60 35.70
Preference capital -- -- -- --
Reserves 2,825 2,837 2,595 2,443
Net worth 2,869 2,880 2,636 2,479
Minority interest
Debt 2,138 1,736 1,761 1,697
Deferred tax liabilities (net) 422 279 327 316
Total liabilities 6,326 4,896 4,724 4,492
Fixed assets 4,009 2,869 2,870 2,879
Intangible assets
Investments 202 747 684 637
Deferred tax asset (net) 50.50 36.20 75 45.20
Net working capital 1,554 1,145 946 702
Inventories 1,230 897 754 610
Inventory Days 129 121 -- 102
Sundry debtors 769 618 609 525
Debtor days 80.80 83.20 -- 87.90
Other current assets 461 363 355 521
Sundry creditors (499) (394) (315) (342)
Creditor days 52.50 53.10 -- 57.30
Other current liabilities (406) (338) (457) (611)
Cash 510 99.90 150 229
Total assets 6,326 4,896 4,724 4,492
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Particulars ( Rupees In Crores.) Sep-2021 Mar-2021 Sep-2020 Mar-2020 Sep-2019
Gross Sales 2,262 2,391 1,080 1,405 1,306
Excise Duty -- -- -- -- --
Net Sales 2,262 2,391 1,080 1,405 1,306
Other Operating Income -- -- -- -- --
Other Income 37 40.70 11.80 12.10 21.10
Total Income 2,299 2,431 1,092 1,417 1,327
Total Expenditure ** 1,971 2,044 1,234 1,224 1,121
PBIDT 329 387 (143) 193 206
Interest 101 122 89.10 109 119
PBDT 227 266 (232) 84.80 86.80
Depreciation 58 60.70 30.50 29.40 27.70
Minority Interest Before NP -- -- -- -- --
Tax 38.30 48.90 3.63 16.10 0.50
Deferred Tax (5) 5 (17) (8.70) 20.30
Reported Profit After Tax 136 151 (249) 48 38.30
Minority Interest After NP 45.10 51.60 2.40 0.31 0.11
Net Profit after Minority Interest 90.90 99.70 (246) 96.60 64.50
Extra-ordinary Items -- -- (241) -- --
Adjusted Profit After Extra-ordinary item 90.90 99.70 (4.80) 96.60 64.50
EPS (Unit Curr.) 2.10 2.30 (5.70) 2.23 1.59
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 43.30 43.30 43.30 43.30 40.60
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(%) 14.50 16.20 (13) 13.80 15.80
PBDTM(%) -- -- -- -- --
PATM(%) 6.01 6.33 (23) 3.42 2.93
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