Farmax India Financial Statements

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Y/e 31 Mar Mar-2016 Mar-2015 Mar-2014 Mar-2013
Growth matrix (%)        
Revenue growth (22) 20.90 (66) (43)
Op profit growth 417 54.90 (94) (428)
EBIT growth 371 (23) (86) (889)
Net profit growth 358 (76) (94) 8,374
Profitability ratios (%)        
OPM (52) (7.80) (6.10) (33)
EBIT margin (60) (9.90) (16) (37)
Net profit margin (60) (10) (51) (278)
RoCE (27) (6) (9.30) (23)
RoNW 57.60 8.14 23.70 (68)
RoA (6.70) (1.50) (7.60) (42)
Per share ratios ()        
EPS -- -- -- --
Dividend per share -- -- -- --
Cash EPS (0.20) (0.10) (0.30) (3.60)
Book value per share (0.20) 0.01 (0.30) (0.10)
Valuation ratios        
P/E -- -- -- --
P/CEPS (0.70) (7.10) (1.50) (0.10)
P/B (0.90) 47.70 (1.20) (3.60)
EV/EBIDTA (6) 523 (84) (2.80)
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- -- -- 3.01
Liquidity ratios        
Debtor days 146 61.60 3.46 60.10
Inventory days 120 106 64.90 62.80
Creditor days (28) (33) (19) (3.20)
Leverage ratios        
Interest coverage 1,488 34.70 0.44 4.08
Net debt / equity (4.40) 62.70 (3) (7.20)
Net debt / op. profit (4.80) (25) (39) (2.10)
Cost breakup ()        
Material costs (133) (96) (92) (116)
Employee costs (7.20) (5.80) (5.90) (2.60)
Other costs (11) (6.30) (8.30) (15)
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Y/e 31 Mar( In .Cr) Mar-2016 Mar-2015 Mar-2014 Mar-2013
Revenue 16.40 21 17.40 51.90
yoy growth (%) (22) 20.90 (66) (43)
Raw materials (22) (20) (16) (60)
As % of sales 133 95.80 91.90 116
Employee costs (1.20) (1.20) (1) (1.40)
As % of sales 7.22 5.75 5.92 2.61
Other costs (1.80) (1.30) (1.40) (7.60)
As % of sales 11.20 6.30 8.29 14.70
Operating profit (8.50) (1.60) (1.10) (17)
OPM (52) (7.80) (6.10) (33)
Depreciation (1.60) (2.20) (2) (2.50)
Interest expense -- (0.10) (6.20) (4.70)
Other income 0.29 1.78 0.38 0.41
Profit before tax (9.80) (2.10) (8.90) (24)
Taxes -- -- -- (0.70)
Tax rate -- -- -- 3.01
Minorities and other -- -- -- --
Adj. profit (9.80) (2.10) (8.90) (25)
Exceptional items -- -- -- (120)
Net profit (9.80) (2.10) (8.90) (144)
yoy growth (%) 358 (76) (94) 8,374
NPM (60) (10) (51) (278)
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Y/e 31 Mar ( In .Cr) Mar-2016 Mar-2015 Mar-2014 Mar-2013
Profit before tax (9.80) (2.10) (8.90) (24)
Depreciation (1.60) (2.20) (2) (2.50)
Tax paid -- -- -- (0.70)
Working capital (87) (96) (0.80) 0.80
Other operating items -- -- -- --
Operating cashflow (99) (101) (12) (26)
Capital expenditure (2.50) 0.34 0.01 --
Free cash flow (101) (100) (12) (26)
Equity raised 291 61.70 (92) 44.10
Investments (253) (0.20) -- --
Debt financing/disposal 27.60 11 17.50 (6.10)
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (36) (28) (86) 11.50
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Y/e 31 Mar ( In .Cr) Mar-2016 Mar-2015 Mar-2014 Mar-2013
Equity capital 53.40 53.40 40.80 40.80
Preference capital -- -- -- --
Reserves (63) (53) (55) (46)
Net worth (9.20) 0.65 (14) (4.90)
Minority interest
Debt 41 41 41.50 35.40
Deferred tax liabilities (net) -- -- -- --
Total liabilities 31.80 41.70 27.70 30.50
Fixed assets 18.40 20.10 22.10 24
Intangible assets
Investments -- -- -- --
Deferred tax asset (net) -- -- -- --
Net working capital 13.20 21.40 5.60 6.37
Inventories 1.94 8.85 3.36 2.83
Inventory Days 43.10 153 70.50 19.90
Sundry debtors 6.19 6.93 0.17 0.16
Debtor days 138 120 3.56 1.12
Other current assets 7.15 8.66 5.35 5.43
Sundry creditors (1.40) (2.50) (1.60) (0.40)
Creditor days 30.70 43.20 33.10 2.53
Other current liabilities (0.70) (0.60) (1.70) (1.70)
Cash 0.20 0.24 0.01 0.09
Total assets 31.80 41.70 27.70 30.40
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Particulars ( Rupees In Crores.) Mar-2017 Dec-2016 Sep-2016 Jun-2016 Mar-2016
Gross Sales 0.10 0.11 1.86 2.32 2.85
Excise Duty -- -- -- -- --
Net Sales 0.10 0.11 1.86 2.32 2.85
Other Operating Income -- -- -- -- --
Other Income -- -- -- 0.04 0.09
Total Income 0.10 0.11 1.86 2.36 2.94
Total Expenditure ** 0.01 0.60 2.19 3.05 3.14
PBIDT 0.09 (0.50) (0.30) (0.70) (0.20)
Interest -- -- -- -- --
PBDT 0.09 (0.50) (0.30) (0.70) (0.20)
Depreciation 0.34 0.32 0.33 0.32 0.36
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- -- --
Deferred Tax -- -- -- -- --
Reported Profit After Tax (0.30) (0.80) (0.70) (1) (0.60)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (0.30) (0.80) (0.70) (1) (0.60)
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (0.30) (0.80) (0.70) (1) (0.60)
EPS (Unit Curr.) -- -- -- -- 0.02
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 53.40 53.40 53.40 53.40 53.40
Public Shareholding (Number) -- 331,790,000 331,790,000 -- --
Public Shareholding (%) -- 62.10 62.10 -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- 202,378,000 202,378,000 -- --
Non Encumbered - % in Total Promoters Holding -- 100 100 -- --
Non Encumbered - % in Total Equity -- 37.90 37.90 -- --
PBIDTM(%) 90 (445) (18) (30) (7)
PBDTM(%) 90 (445) (18) (30) (7)
PATM(%) (250) (736) (35) (44) (20)