Heritage Foods Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 14.90 25.30 (20) 14.80
Op profit growth (395) (11) 11.30 59.50
EBIT growth (126) 33.30 261 86.20
Net profit growth (355) (77) 396 95.40
Profitability ratios (%)        
OPM (14) 5.48 7.68 5.49
EBIT margin (4.80) 20.90 19.60 4.32
Net profit margin (5.90) 2.65 14.50 2.33
RoCE (14) 52.60 63.40 27
RoNW (6.50) 2.29 16.60 6.40
RoA (4.20) 1.67 11.70 3.64
Per share ratios ()        
EPS -- 13.50 120 23.90
Dividend per share 2.50 2 4 3
Cash EPS (45) 5.38 108 9.02
Book value per share 99.10 168 255 103
Valuation ratios        
P/E -- 51 4.50 10.70
P/CEPS (4.70) 128 4.99 28.30
P/B 2.15 4.11 2.11 2.47
EV/EBIDTA (16) 6.40 6.56 9.22
Payout (%)        
Dividend payout -- 14.80 3.37 15.10
Tax payout 10.10 (30) (10) (35)
Liquidity ratios        
Debtor days 2.33 2.18 4.27 4.07
Inventory days 20 21.30 25.80 21.80
Creditor days (10) (14) (18) (14)
Leverage ratios        
Interest coverage 5.74 (1.20) (7.70) (6.60)
Net debt / equity 0.54 0.27 0.17 0.34
Net debt / op. profit (0.60) 1.62 0.71 0.62
Cost breakup ()        
Material costs (82) (81) (79) (79)
Employee costs (5.70) (5.20) (5.30) (5.90)
Other costs (27) (8.40) (8) (9.70)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 2,726 2,373 1,894 2,381
yoy growth (%) 14.90 25.30 (20) 14.80
Raw materials (2,225) (1,919) (1,497) (1,879)
As % of sales 81.60 80.90 79 78.90
Employee costs (156) (124) (100) (140)
As % of sales 5.74 5.23 5.27 5.88
Other costs (728) (200) (152) (231)
As % of sales 26.70 8.41 8.01 9.71
Operating profit (383) 130 146 131
OPM (14) 5.48 7.68 5.49
Depreciation (50) (38) (25) (35)
Interest expense (23) (405) (48) (15)
Other income 303 403 251 6.55
Profit before tax (152) 89.90 323 87.30
Taxes (15) (27) (32) (31)
Tax rate 10.10 (30) (10) (35)
Minorities and other 8.41 0.09 (16) --
Adj. profit (159) 62.90 275 56.80
Exceptional items -- -- -- (1.40)
Net profit (160) 62.80 275 55.40
yoy growth (%) (355) (77) 396 95.40
NPM (5.90) 2.65 14.50 2.33
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (152) 89.90 323 87.30
Depreciation (50) (38) (25) (35)
Tax paid (15) (27) (32) (31)
Working capital 69.90 66.80 1.29 5.13
Other operating items -- -- -- --
Operating cashflow (148) 91.80 267 27.40
Capital expenditure 287 128 (48) 98.70
Free cash flow 139 220 219 126
Equity raised 683 794 443 324
Investments 152 1,002 477 0.16
Debt financing/disposal 152 142 31.40 (16)
Dividends paid -- 9.28 9.28 6.96
Other items -- -- -- --
Net in cash 1,125 2,166 1,180 442
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 26.40 26.40 26.40 26.40
Preference capital -- -- -- --
Reserves 433 776 751 564
Net worth 460 803 778 591
Minority interest
Debt 306 299 280 158
Deferred tax liabilities (net) 31.10 35.30 31.20 23.20
Total liabilities 799 1,149 1,099 782
Fixed assets 558 517 442 304
Intangible assets
Investments 152 835 1,002 478
Deferred tax asset (net) 8.72 8.96 12.60 3.84
Net working capital 21 (287) (426) (58)
Inventories 145 138 155 123
Inventory Days 19.40 -- 23.80 23.60
Sundry debtors 21.90 42.40 12.90 15.50
Debtor days 2.93 -- 1.98 2.98
Other current assets 52.70 26.70 26.60 20.80
Sundry creditors (81) (91) (90) (81)
Creditor days 10.90 -- 13.90 15.60
Other current liabilities (117) (404) (530) (136)
Cash 58.30 74.80 68.80 54.90
Total assets 799 1,149 1,099 782
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 610 639 653 672 680
Excise Duty -- -- -- -- --
Net Sales 610 639 653 672 680
Other Operating Income -- -- -- -- --
Other Income 1.77 68.40 139 55.40 143
Total Income 612 707 791 728 823
Total Expenditure ** 574 584 980 693 798
PBIDT 37.60 124 (189) 34.40 25
Interest 4.78 6.27 6.46 5.39 5.24
PBDT 32.80 117 (195) 29 19.80
Depreciation 11.10 11.90 11.80 12.80 12.90
Minority Interest Before NP -- -- -- -- --
Tax 18.70 10.90 3.11 4.74 (0.70)
Deferred Tax 0.61 (0.80) (0.10) (0.30) (3.20)
Reported Profit After Tax 2.47 95.40 (210) 11.70 10.70
Minority Interest After NP (0.20) (0.30) (0.70) (2.90) (3.60)
Net Profit after Minority Interest 2.68 95.80 (209) 14.60 14.30
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 2.68 95.80 (209) 14.60 14.30
EPS (Unit Curr.) 0.63 20.80 (45) 3.15 3.07
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 23.20 23.20 23.20 23.20 23.20
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(%) 6.16 19.40 (29) 5.12 3.68
PBDTM(%) 5.38 18.40 (30) 4.32 2.91
PATM(%) 0.40 14.90 (32) 1.74 1.57