Fedders Electric & Engineering Financial Statements

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Y/e 31 Mar Mar-2017 Mar-2016 Jun-2015 Jun-2014
Growth matrix (%)        
Revenue growth 31.30 (22) 13.20 14.60
Op profit growth 12.90 (30) (9.80) 15.70
EBIT growth 8.63 (29) (10) 30.10
Net profit growth (5.10) (46) (11) (9.80)
Profitability ratios (%)        
OPM 7.84 9.11 10.10 12.70
EBIT margin 7.08 8.56 9.39 11.90
Net profit margin 1.51 2.09 3.04 3.86
RoCE 10.20 9.33 13.30 15.80
RoNW 1.17 1.32 2.67 3.32
RoA 0.54 0.57 1.08 1.29
Per share ratios ()        
EPS 5.80 9.13 12.90 14.40
Dividend per share 1 0.75 1 1
Cash EPS 2.22 3.83 8.89 10.20
Book value per share 134 137 128 116
Valuation ratios        
P/E 14.40 7.80 5.61 5.22
P/CEPS 37.60 18.60 8.12 7.38
P/B 0.62 0.52 0.56 0.65
EV/EBIDTA 6.80 7.34 5.49 5.10
Payout (%)        
Dividend payout 16.60 12.90 9.01 8.03
Tax payout (34) (45) (32) (31)
Liquidity ratios        
Debtor days 120 154 106 99.20
Inventory days 104 143 114 109
Creditor days (56) (78) (51) (34)
Leverage ratios        
Interest coverage (1.50) (1.80) (1.90) (1.90)
Net debt / equity 1.01 1.19 1.34 1.51
Net debt / op. profit 4.30 5.32 3.95 3.65
Cost breakup ()        
Material costs (85) (83) (82) (80)
Employee costs (2.80) (2.70) (2.50) (3)
Other costs (4.80) (5.50) (5) (3.90)
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Y/e 31 Mar( In .Cr) Mar-2017 Mar-2016 Jun-2015 Jun-2014
Revenue 1,354 1,031 1,316 1,163
yoy growth (%) 31.30 (22) 13.20 14.60
Raw materials (1,146) (852) (1,084) (934)
As % of sales 84.60 82.60 82.40 80.40
Employee costs (37) (28) (33) (35)
As % of sales 2.76 2.75 2.50 3.04
Other costs (65) (57) (66) (45)
As % of sales 4.77 5.51 5.01 3.88
Operating profit 106 94 133 148
OPM 7.84 9.11 10.10 12.70
Depreciation (13) (9.70) (13) (13)
Interest expense (65) (49) (64) (73)
Other income 2.75 4.07 2.94 3.45
Profit before tax 31 39.20 59.30 65
Taxes (11) (18) (19) (20)
Tax rate (34) (45) (32) (31)
Minorities and other -- -- -- --
Adj. profit 20.40 21.50 40.10 44.90
Exceptional items -- -- -- --
Net profit 20.50 21.50 40.10 44.90
yoy growth (%) (5.10) (46) (11) (9.80)
NPM 1.51 2.09 3.04 3.86
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Y/e 31 Mar ( In .Cr) Mar-2017 Mar-2016 Jun-2015 Jun-2014
Profit before tax 31 39.20 59.30 65
Depreciation (13) (9.70) (13) (13)
Tax paid (11) (18) (19) (20)
Working capital 339 342 149 --
Other operating items -- -- -- --
Operating cashflow 347 354 176 31.40
Capital expenditure 219 72.40 28.70 --
Free cash flow 566 426 205 31.40
Equity raised 606 610 613 612
Investments (0.20) (0.40) (0.30) --
Debt financing/disposal 202 430 24.20 --
Dividends paid 3.40 2.31 3.08 3.08
Other items -- -- -- --
Net in cash 1,377 1,468 845 646
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Jun-2015
Equity capital 37.40 37.40 40.10 30.80
Preference capital -- -- -- --
Reserves (85) 417 380 363
Net worth (48) 454 420 394
Minority interest
Debt 432 465 511 545
Deferred tax liabilities (net) 18 17.30 13.20 8.77
Total liabilities 402 936 944 948
Fixed assets 242 268 273 274
Intangible assets
Investments 0.37 0.22 0.12 0.19
Deferred tax asset (net) -- -- 0.18 0.08
Net working capital 134 659 660 655
Inventories 82.30 380 394 416
Inventory Days -- 102 139 115
Sundry debtors 255 454 438 430
Debtor days -- 122 155 119
Other current assets 321 71.10 69.80 63.70
Sundry creditors (326) (201) (185) (214)
Creditor days -- 54.20 65.40 59.50
Other current liabilities (199) (45) (56) (40)
Cash 25.70 8.19 11.10 18.80
Total assets 402 936 944 948
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Particulars ( Rupees In Crores.) Mar-2018 Mar-2017 Mar-2016 Jun-2015 Jun-2014
Gross Sales 1,239 1,365 1,031 1,316 1,163
Excise Duty 1.91 11.30 -- -- --
Net Sales 1,237 1,354 1,031 1,316 1,163
Other Operating Income -- -- -- 2.94 3.45
Other Income 46.40 2.75 4.07 -- --
Total Income 1,284 1,356 1,035 1,319 1,166
Total Expenditure ** 1,690 1,249 937 1,183 1,015
PBIDT (406) 108 98 136 151
Interest 72.80 65 49 64.30 72.80
PBDT (479) 42.80 49 72.10 78.40
Depreciation 18.30 12.90 9.74 12.70 13.50
Minority Interest Before NP -- -- -- -- --
Tax -- 8.56 17.70 19.30 20.10
Deferred Tax 0.47 1.64 -- -- --
Reported Profit After Tax (498) 19.70 21.50 40.10 44.80
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (498) 19.70 21.50 40.10 44.80
Extra-ordinary Items 45.10 -- -- -- --
Adjusted Profit After Extra-ordinary item (543) 19.70 21.50 40.10 44.80
EPS (Unit Curr.) (147) 6.25 7 13 14.60
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 10 7.50 10 10
Equity 34 34 30.80 30.80 30.80
Public Shareholding (Number) -- -- -- 16,285,118 16,328,118
Public Shareholding (%) -- -- -- 52.90 53.10
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- 14,484,582 14,441,582
Non Encumbered - % in Total Promoters Holding -- -- -- 100 100
Non Encumbered - % in Total Equity -- -- -- 47.10 46.90
PBIDTM(%) (33) 7.97 9.51 10.40 13
PBDTM(%) (39) 3.16 4.75 5.47 6.75
PATM(%) (40) 1.45 2.09 3.04 3.86