Godfrey Phillips India Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 23.70 (3.20) 3.09 (9.90)
Op profit growth 129 2.06 (22) (12)
EBIT growth 153 5.90 (20) (12)
Net profit growth 142 15.90 (19) (7.40)
Profitability ratios (%)        
OPM 20.60 11.10 10.50 13.90
EBIT margin 18.90 9.23 8.44 10.90
Net profit margin 13.40 6.84 5.71 7.28
RoCE 23.60 11.20 11 14.90
RoNW 4.83 2.30 2.12 2.94
RoA 4.19 2.07 1.87 2.48
Per share ratios ()        
EPS 74 30.60 26.30 32.60
Dividend per share 24 8 8 8
Cash EPS 44.20 11.70 7.58 12.10
Book value per share 421 345 319 303
Valuation ratios        
P/E 12.70 26.80 43 36.40
P/CEPS 21.30 70.30 150 98.30
P/B 2.24 2.38 3.55 3.92
EV/EBIDTA 7.46 13.60 19.70 17.40
Payout (%)        
Dividend payout 39.10 26.10 30.30 24.50
Tax payout (25) (35) (31) (30)
Liquidity ratios        
Debtor days 9.81 20.80 21.80 18.60
Inventory days 80.80 97.10 106 116
Creditor days (35) (31) (26) (26)
Leverage ratios        
Interest coverage (18) (129) (57) (25)
Net debt / equity 0.14 -- 0.03 0.06
Net debt / op. profit 0.52 (0.10) 0.17 0.31
Cost breakup ()        
Material costs (44) (51) (53) (45)
Employee costs (9.70) (10) (11) (11)
Other costs (26) (27) (26) (30)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 2,877 2,326 2,403 2,331
yoy growth (%) 23.70 (3.20) 3.09 (9.90)
Raw materials (1,261) (1,194) (1,270) (1,050)
As % of sales 43.80 51.40 52.90 45
Employee costs (278) (239) (263) (264)
As % of sales 9.68 10.30 10.90 11.30
Other costs (745) (634) (617) (693)
As % of sales 25.90 27.30 25.70 29.80
Operating profit 592 258 253 324
OPM 20.60 11.10 10.50 13.90
Depreciation (155) (98) (98) (107)
Interest expense (30) (1.70) (3.60) (10)
Other income 107 54.80 47.50 37.30
Profit before tax 513 213 199 244
Taxes (129) (74) (62) (74)
Tax rate (25) (35) (31) (30)
Minorities and other 0.10 0.06 0.36 0.01
Adj. profit 384 139 137 170
Exceptional items -- 20 -- --
Net profit 385 159 137 170
yoy growth (%) 142 15.90 (19) (7.40)
NPM 13.40 6.84 5.71 7.28
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 513 213 199 244
Depreciation (155) (98) (98) (107)
Tax paid (129) (74) (62) (74)
Working capital 75.30 44.30 246 284
Other operating items -- -- -- --
Operating cashflow 304 84.90 285 346
Capital expenditure 983 68.90 (237) (373)
Free cash flow 1,287 154 48.10 (26)
Equity raised 2,713 2,592 2,601 2,611
Investments 929 599 221 83
Debt financing/disposal 130 (295) (24) (107)
Dividends paid 125 41.60 41.60 41.60
Other items -- -- -- --
Net in cash 5,184 3,092 2,889 2,603
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 10.40 10.40 10.40 10.40
Preference capital 0.91 0.82 0.74 --
Reserves 2,177 2,028 1,783 1,650
Net worth 2,188 2,040 1,794 1,660
Minority interest
Debt 356 41.20 26.80 73.40
Deferred tax liabilities (net) 58.60 67.70 108 103
Total liabilities 2,631 2,181 1,966 1,877
Fixed assets 1,032 709 668 713
Intangible assets
Investments 1,251 1,232 924 507
Deferred tax asset (net) 30.40 36.50 90.60 93.30
Net working capital 270 159 239 532
Inventories 688 642 585 652
Inventory Days 87.30 -- 91.90 99
Sundry debtors 68.90 68.60 85.80 179
Debtor days 8.74 -- 13.50 27.20
Other current assets 207 170 157 125
Sundry creditors (260) (304) (182) (165)
Creditor days 33 -- 28.60 25
Other current liabilities (435) (417) (408) (259)
Cash 48.10 45.60 43.60 31.50
Total assets 2,631 2,181 1,966 1,877
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 453 676 787 744 834
Excise Duty 50.50 86.90 35.90 34.90 33.70
Net Sales 403 589 751 709 801
Other Operating Income 9.38 3.09 9.83 6.49 6.86
Other Income 41 30.40 27.90 31.40 17.20
Total Income 453 622 789 747 825
Total Expenditure ** 349 512 594 574 605
PBIDT 104 110 195 174 220
Interest 7.31 7.33 7.69 7.81 7.40
PBDT 96.90 103 187 166 212
Depreciation 34.20 47.60 36.60 35.50 35.50
Minority Interest Before NP -- -- -- -- --
Tax 11.10 17.40 33.90 15.80 59.50
Deferred Tax (3.90) (0.50) 3 0.87 (1.20)
Reported Profit After Tax 55.60 38.40 114 114 118
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 55.10 38.70 114 114 119
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 55.10 38.70 114 114 119
EPS (Unit Curr.) 10.60 7.44 21.90 21.80 22.80
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 1,200 -- -- --
Equity 10.40 10.40 10.40 10.40 10.40
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(%) 25.90 18.70 26 24.50 27.40
PBDTM(%) 24.10 17.50 24.90 23.40 26.50
PATM(%) 13.80 6.53 15.20 16 14.80