Garnet Construction Financial Statements

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Y/e 31 Mar Mar-2019 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 25.40 (59) (69) 61.90
Op profit growth (63) 8.49 (46) (2.30)
EBIT growth (47) 17.60 (52) 3.58
Net profit growth (33) 264 (85) 227
Profitability ratios (%)        
OPM 17.30 58.10 21.90 12.50
EBIT margin 21.70 51.30 17.80 11.50
Net profit margin 11.10 20.70 2.33 4.66
RoCE 1.38 2.77 2.34 4.56
RoNW 0.28 0.43 0.12 0.82
RoA 0.18 0.28 0.08 0.46
Per share ratios ()        
EPS 0.58 0.86 0.23 1.54
Dividend per share -- -- -- --
Cash EPS 0.23 0.46 (0.20) 0.87
Book value per share 52 51.40 50.50 48.30
Valuation ratios        
P/E 22.10 25.30 53.90 7.79
P/CEPS 54.60 47.10 (55) 13.90
P/B 0.25 0.42 0.25 0.25
EV/EBIDTA 30.80 18.80 16.10 9.27
Payout (%)        
Dividend payout -- -- -- --
Tax payout (30) (17) (63) (26)
Liquidity ratios        
Debtor days 1,608 2,772 1,303 365
Inventory days 5,541 6,140 2,554 903
Creditor days (279) (803) (216) (54)
Leverage ratios        
Interest coverage (3.70) (1.90) (1.50) (2.20)
Net debt / equity 0.64 0.51 0.49 0.62
Net debt / op. profit 36.40 10.90 11 7.15
Cost breakup ()        
Material costs -- -- (0.70) --
Employee costs (28) (18) (4.50) (2.10)
Other costs (55) (24) (73) (85)
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Y/e 31 Mar( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Revenue 7.30 5.82 14.20 46.30
yoy growth (%) 25.40 (59) (69) 61.90
Raw materials -- -- (0.10) --
As % of sales -- -- 0.74 --
Employee costs (2.10) (1) (0.60) (1)
As % of sales 28.10 17.70 4.54 2.10
Other costs (4) (1.40) (10) (40)
As % of sales 54.60 24.20 72.80 85.40
Operating profit 1.26 3.38 3.12 5.78
OPM 17.30 58.10 21.90 12.50
Depreciation (0.50) (0.60) (0.60) (1)
Interest expense (0.40) (1.50) (1.70) (2.40)
Other income 0.81 0.17 0.07 0.48
Profit before tax 1.16 1.45 0.88 2.89
Taxes (0.30) (0.20) (0.60) (0.80)
Tax rate (30) (17) (63) (26)
Minorities and other -- -- -- 0.02
Adj. profit 0.81 1.20 0.32 2.15
Exceptional items -- -- -- --
Net profit 0.81 1.20 0.33 2.15
yoy growth (%) (33) 264 (85) 227
NPM 11.10 20.70 2.33 4.66
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Profit before tax 1.16 1.45 0.88 2.89
Depreciation (0.50) (0.60) (0.60) (1)
Tax paid (0.30) (0.20) (0.60) (0.80)
Working capital 1.40 (2.20) -- 2.16
Other operating items -- -- -- --
Operating cashflow 1.73 (1.50) (0.30) 3.35
Capital expenditure (3.60) (3.70) -- 3.65
Free cash flow (1.90) (5.20) (0.30) 7
Equity raised 108 110 112 109
Investments (3.10) -- -- 0.05
Debt financing/disposal (9.30) (5.10) 1.40 6.08
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 94.20 99.20 113 122
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 13.90 13.90 13.90 13.90
Preference capital -- -- -- --
Reserves 58.30 57.50 56.30 53.20
Net worth 72.20 71.40 70.20 67.10
Minority interest
Debt 46.70 36.90 34.90 41.90
Deferred tax liabilities (net) 0.92 1.05 1.28 1.25
Total liabilities 120 109 107 110
Fixed assets 5.17 5.62 6.18 6.82
Intangible assets
Investments -- 3 3 3.05
Deferred tax asset (net) 0.99 1.19 1.35 --
Net working capital 113 99.50 95.30 99.90
Inventories 118 103 92.70 107
Inventory Days 5,920 6,474 2,374 842
Sundry debtors 34 30.30 58.10 43.60
Debtor days 1,701 1,900 1,490 344
Other current assets 31.20 30.40 30.90 36.10
Sundry creditors (4.10) (5.10) (5.60) (7.60)
Creditor days 205 322 144 59.60
Other current liabilities (67) (59) (81) (79)
Cash 0.78 0.15 0.72 0.61
Total assets 120 109 107 110
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Particulars ( Rupees In Crores.) Dec-2019 Sep-2019 Jun-2019 Mar-2019 Dec-2018
Gross Sales 33.90 6.96 1.90 2.77 2.13
Excise Duty -- -- -- -- --
Net Sales 33.90 6.96 1.90 2.77 2.13
Other Operating Income -- -- -- -- --
Other Income -- 0.03 0.06 -- 0.08
Total Income 33.90 6.98 1.95 2.77 2.20
Total Expenditure ** 7.43 5.42 1.56 1.74 1.71
PBIDT 26.50 1.57 0.40 1.04 0.49
Interest 0.65 0.88 0.24 0.37 0.03
PBDT 25.80 0.69 0.16 0.66 0.47
Depreciation 0.09 0.09 0.09 0.13 0.12
Minority Interest Before NP -- -- -- -- --
Tax 7.32 0.19 0.03 0.20 0.15
Deferred Tax 0.01 -- -- -- --
Reported Profit After Tax 18.40 0.43 0.05 0.38 0.23
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 18.40 0.43 0.05 0.39 0.23
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 18.40 0.43 0.05 0.39 0.23
EPS (Unit Curr.) 13.20 0.31 0.04 0.28 0.16
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 13.90 13.90 13.90 13.90 13.90
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(%) 78.10 22.60 21.10 37.50 23
PBDTM(%) 76.10 9.91 8.42 23.80 22.10
PATM(%) 54.30 6.18 2.63 13.70 10.80