Investment & Precision Castings Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (12) 16.90 8.37 10.90
Op profit growth (45) 40.10 14.30 20.40
EBIT growth (66) 59.60 18.80 17.20
Net profit growth (109) 90.30 47.60 32
Profitability ratios (%)        
OPM 12 19.30 16.10 15.30
EBIT margin 5.68 14.90 10.90 9.98
Net profit margin (0.80) 7.38 4.53 3.33
RoCE 4.35 15.70 11.20 10
RoNW (0.30) 3.15 1.89 1.42
RoA (0.10) 1.93 1.16 0.84
Per share ratios ()        
EPS -- 15.90 8.34 5.51
Dividend per share 0.10 2.50 1.25 0.70
Cash EPS (15) 5.59 (1.60) (3.70)
Book value per share 146 133 119 102
Valuation ratios        
P/E -- 25.70 27.10 25.10
P/CEPS (9.90) 72.80 (138) (38)
P/B 0.99 3.06 1.90 1.36
EV/EBIDTA 10.90 11.50 9.48 7.62
Payout (%)        
Dividend payout -- 15.70 15 14.90
Tax payout (33) (34) (33) (36)
Liquidity ratios        
Debtor days 77 68.10 75.30 81.70
Inventory days 99.80 63.70 66.70 65
Creditor days (67) (48) (48) (46)
Leverage ratios        
Interest coverage (0.80) (3.90) (2.60) (2.10)
Net debt / equity 0.80 0.59 0.50 0.61
Net debt / op. profit 5.09 1.89 2 2.39
Cost breakup ()        
Material costs (9.50) (7) (8.20) (7.30)
Employee costs (7.70) (7.60) (8.60) (8.90)
Other costs (71) (66) (67) (69)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 95.20 108 92 84.90
yoy growth (%) (12) 16.90 8.37 10.90
Raw materials (9.10) (7.50) (7.50) (6.20)
As % of sales 9.53 6.96 8.20 7.26
Employee costs (7.30) (8.20) (7.90) (7.60)
As % of sales 7.67 7.59 8.56 8.93
Other costs (67) (71) (62) (58)
As % of sales 70.80 66.10 67.10 68.50
Operating profit 11.40 20.80 14.80 13
OPM 12 19.30 16.10 15.30
Depreciation (6.60) (5.10) (5) (4.70)
Interest expense (6.50) (4.10) (3.90) (4.10)
Other income 0.57 0.44 0.23 0.16
Profit before tax (1.10) 12 6.21 4.42
Taxes 0.36 (4) (2) (1.60)
Tax rate (33) (34) (33) (36)
Minorities and other -- -- -- --
Adj. profit (0.70) 7.94 4.17 2.83
Exceptional items -- -- -- --
Net profit (0.70) 7.94 4.17 2.83
yoy growth (%) (109) 90.30 47.60 32
NPM (0.80) 7.38 4.53 3.33
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (1.10) 12 6.21 4.42
Depreciation (6.60) (5.10) (5) (4.70)
Tax paid 0.36 (4) (2) (1.60)
Working capital 6.61 (8) (2.70) (0.20)
Other operating items -- -- -- --
Operating cashflow (0.70) (5.20) (3.50) (2)
Capital expenditure 92.90 56.30 30 12.90
Free cash flow 92.20 51.10 26.60 10.80
Equity raised 106 95.10 91.10 85.20
Investments 0.01 -- -- --
Debt financing/disposal 34.70 1.59 4.32 1.04
Dividends paid -- 1.25 0.63 0.35
Other items -- -- -- --
Net in cash 233 149 123 97.40
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 5 5 5 5
Preference capital -- -- -- --
Reserves 68 70 61.60 54.40
Net worth 73 75 66.60 59.40
Minority interest
Debt 58.40 57.30 40.10 31
Deferred tax liabilities (net) 5.87 5.20 4.76 3.42
Total liabilities 137 137 111 93.80
Fixed assets 84.90 85.30 68.60 53.20
Intangible assets
Investments 0.01 0.01 0.01 0.01
Deferred tax asset (net) 2.35 1.31 -- --
Net working capital 49.80 50.60 42.10 39.30
Inventories 31.70 32.10 20.40 17.20
Inventory Days 122 -- 69 68.10
Sundry debtors 17.70 20.40 22.40 17.70
Debtor days 67.90 -- 76.10 70.30
Other current assets 27.10 25.50 18 16.80
Sundry creditors (17) (18) (13) (9.30)
Creditor days 67 -- 45.80 37
Other current liabilities (9.20) (9.20) (5.20) (3.10)
Cash 0.26 0.23 0.71 1.28
Total assets 137 137 111 93.80
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 92.50 116 106 89.50 92.70
Excise Duty -- -- -- -- 10.20
Net Sales 92.50 116 106 89.50 82.50
Other Operating Income 2.67 2.79 2.04 2.53 2.44
Other Income 0.57 0.91 0.44 0.23 0.17
Total Income 95.80 120 108 92.30 85.10
Total Expenditure ** 83.80 98.80 86.80 77.20 72
PBIDT 12 20.80 21.20 15.10 13.10
Interest 6.49 5.11 4.10 3.86 4.05
PBDT 5.51 15.70 17.10 11.20 9.09
Depreciation 6.59 6.17 5.14 4.99 4.66
Minority Interest Before NP -- -- -- -- --
Tax -- 0.50 2.70 2.14 1.28
Deferred Tax (0.30) (0.90) 1.34 (0.10) 0.32
Reported Profit After Tax (0.70) 9.93 7.94 4.17 2.83
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (0.70) 9.93 7.94 4.17 2.83
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (0.70) 9.93 7.94 4.17 2.83
EPS (Unit Curr.) (1.50) 19.90 (1.70) 8.34 5.65
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 1 20 25 12.50 7
Equity 5 5 5 5 5
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(%) 13 18 20.10 16.80 15.90
PBDTM(%) 5.96 13.60 16.20 12.50 11
PATM(%) (0.80) 8.57 7.52 4.66 3.43