Godrej Agrovet Financial Statements

Godrej Agrovet Half Yearly Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (10) 34.30 5.59 31
Op profit growth 15.40 10.30 1.15 46.20
EBIT growth 16 (0.40) (7.90) 35.80
Net profit growth 2.47 33.60 (7.90) (5.70)
Profitability ratios (%)        
OPM 9 7.01 8.54 8.92
EBIT margin 7.17 5.56 7.50 8.60
Net profit margin 5.01 4.40 4.42 5.07
RoCE 13.40 14.60 17.80 18.20
RoNW 4.03 4.71 4.74 6.94
RoA 2.35 2.88 2.63 2.69
Per share ratios ()        
EPS 18.10 15.70 13.10 14.70
Dividend per share 8 5.50 4.50 4.50
Cash EPS 8.32 8.23 7.46 9.41
Book value per share 107 95.70 73.50 54.50
Valuation ratios        
P/E 29 23.50 48.70 --
P/CEPS 63.10 44.70 85.40 --
P/B 4.91 3.85 8.67 --
EV/EBIDTA 18.30 14.30 26.60 --
Payout (%)        
Dividend payout -- 5.80 45.40 33.50
Tax payout (26) (14) (35) (30)
Liquidity ratios        
Debtor days 48.80 38.60 40.20 36.30
Inventory days 54.40 43.20 52.80 52.20
Creditor days (28) (22) (27) (25)
Leverage ratios        
Interest coverage (9.70) (9.30) (8.60) (4.90)
Net debt / equity 0.47 0.33 0.27 0.60
Net debt / op. profit 1.70 1.23 0.85 1.37
Cost breakup ()        
Material costs (74) (77) (76) (77)
Employee costs (6) (5.10) (5.30) (4.70)
Other costs (11) (11) (9.90) (9.20)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 6,267 6,964 5,186 4,911
yoy growth (%) (10) 34.30 5.59 31
Raw materials (4,608) (5,376) (3,954) (3,791)
As % of sales 73.50 77.20 76.20 77.20
Employee costs (376) (354) (276) (233)
As % of sales 6.01 5.08 5.33 4.74
Other costs (719) (745) (513) (450)
As % of sales 11.50 10.70 9.88 9.16
Operating profit 564 488 443 438
OPM 9 7.01 8.54 8.92
Depreciation (154) (148) (86) (75)
Interest expense (46) (42) (45) (86)
Other income 39.60 46.80 31.80 59
Profit before tax 403 346 344 336
Taxes (106) (48) (121) (102)
Tax rate (26) (14) (35) (30)
Minorities and other (34) 5.61 (22) (24)
Adj. profit 263 303 201 210
Exceptional items -- (9.90) 12.10 20
Net profit 314 306 229 249
yoy growth (%) 2.47 33.60 (7.90) (5.70)
NPM 5.01 4.40 4.42 5.07
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 403 346 344 336
Depreciation (154) (148) (86) (75)
Tax paid (106) (48) (121) (102)
Working capital 131 154 -- (154)
Other operating items -- -- -- --
Operating cashflow 274 303 137 6.16
Capital expenditure 1,310 996 -- (996)
Free cash flow 1,584 1,299 137 (990)
Equity raised 2,335 2,170 2,296 2,297
Investments 64.50 (46) -- 46.30
Debt financing/disposal 2,261 1,240 784 1,225
Dividends paid -- -- 86.40 83.30
Other items -- -- -- --
Net in cash 6,245 4,663 3,303 2,662
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 192 192 192 192
Preference capital -- -- -- --
Reserves 1,859 1,646 1,457 1,219
Net worth 2,051 1,838 1,649 1,411
Minority interest
Debt 1,007 651 398 410
Deferred tax liabilities (net) 171 175 209 173
Total liabilities 3,640 3,047 2,656 2,263
Fixed assets 2,422 2,310 2,144 1,682
Intangible assets
Investments 124 129 117 195
Deferred tax asset (net) 19.60 27.80 4.24 6.55
Net working capital 1,023 530 361 348
Inventories 980 887 899 763
Inventory Days 57.10 46.50 -- 53.70
Sundry debtors 823 853 735 620
Debtor days 47.90 44.70 -- 43.70
Other current assets 380 443 306 242
Sundry creditors (465) (408) (366) (381)
Creditor days 27.10 21.40 -- 26.80
Other current liabilities (694) (1,245) (1,212) (897)
Cash 50.90 50.80 29.80 31.80
Total assets 3,640 3,047 2,656 2,263
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Particulars ( Rupees In Crores.) Mar-2021 Sep-2020 Mar-2020 Sep-2019 Mar-2019
Gross Sales 2,979 3,261 3,270 3,546 2,836
Excise Duty -- -- -- -- --
Net Sales 2,979 3,261 3,270 3,546 2,836
Other Operating Income 9.94 17.20 140 8.18 8.76
Other Income 46.40 43.40 31.60 28.20 106
Total Income 3,035 3,321 3,442 3,582 2,951
Total Expenditure ** 2,764 2,939 3,193 3,292 2,669
PBIDT 271 383 249 290 282
Interest 24.10 22.40 19 22.70 17.30
PBDT 247 360 230 267 265
Depreciation 78.30 75.70 75.50 72.60 52.10
Minority Interest Before NP -- -- -- -- --
Tax 35.80 65.40 48.70 55.10 35.60
Deferred Tax 1.39 2.91 (15) (41) 7.85
Reported Profit After Tax 131 216 120 180 169
Minority Interest After NP 13.30 20.60 (5.80) 0.23 14.60
Net Profit after Minority Interest 118 196 126 180 155
Extra-ordinary Items -- -- (9.90) -- 88.30
Adjusted Profit After Extra-ordinary item 118 196 136 180 66.30
EPS (Unit Curr.) 6.15 10.20 6.57 9.37 8.05
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 192 192 192 192 192
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(%) 9.10 11.70 7.60 8.17 9.94
PBDTM(%) -- -- -- -- --
PATM(%) 4.41 6.63 3.68 5.08 5.97
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