J K Cements Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 15.60 7.87 22.90 11.10
Op profit growth 54.10 8.45 32.90 21.20
EBIT growth 47.70 12.60 52.40 11.90
Net profit growth 71.40 62.90 207 (60)
Profitability ratios (%)        
OPM 20.90 15.70 15.60 14.40
EBIT margin 17.40 13.60 13.10 10.50
Net profit margin 8.56 5.77 3.82 1.53
RoCE 15.90 12.30 11 7.36
RoNW 4.96 3.93 2.69 0.90
RoA 1.95 1.30 0.80 0.27
Per share ratios ()        
EPS 62.60 40.80 24.60 7.03
Dividend per share 7.50 10 8 4
Cash EPS 27 8.33 (5.60) (20)
Book value per share 392 282 245 227
Valuation ratios        
P/E 15 24.90 38 95.50
P/CEPS 34.80 122 (167) (34)
P/B 2.40 3.60 3.82 2.96
EV/EBIDTA 7.80 10.40 11.40 12.80
Payout (%)        
Dividend payout -- 24.10 31.50 58.20
Tax payout (34) (24) (37) (41)
Liquidity ratios        
Debtor days 15.80 15.90 16.20 18.70
Inventory days 40.30 41.80 41.30 49.90
Creditor days (46) (47) (33) (29)
Leverage ratios        
Interest coverage (3.70) (2.40) (2) (1.30)
Net debt / equity 0.95 1.20 1.68 1.86
Net debt / op. profit 2.36 3.01 3.97 5.40
Cost breakup ()        
Material costs (15) (16) (15) (18)
Employee costs (7.80) (7.30) (6.80) (7.10)
Other costs (56) (61) (63) (60)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 5,802 5,020 4,654 3,786
yoy growth (%) 15.60 7.87 22.90 11.10
Raw materials (871) (801) (702) (697)
As % of sales 15 16 15.10 18.40
Employee costs (455) (368) (316) (269)
As % of sales 7.85 7.34 6.78 7.10
Other costs (3,262) (3,063) (2,910) (2,274)
As % of sales 56.20 61 62.50 60.10
Operating profit 1,213 787 726 546
OPM 20.90 15.70 15.60 14.40
Depreciation (288) (231) (217) (197)
Interest expense (276) (284) (303) (305)
Other income 85.30 128 98.40 49.80
Profit before tax 734 400 305 93.60
Taxes (251) (98) (114) (39)
Tax rate (34) (24) (37) (41)
Minorities and other 13 3.99 5.77 3.02
Adj. profit 496 307 197 57.90
Exceptional items -- (17) (19) --
Net profit 496 290 178 57.90
yoy growth (%) 71.40 62.90 207 (60)
NPM 8.56 5.77 3.82 1.53
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 734 400 305 93.60
Depreciation (288) (231) (217) (197)
Tax paid (251) (98) (114) (39)
Working capital 497 106 89.80 (39)
Other operating items -- -- -- --
Operating cashflow 692 177 64.10 (181)
Capital expenditure 4,833 3,032 2,746 2,167
Free cash flow 5,525 3,209 2,810 1,986
Equity raised 3,786 3,137 3,140 3,163
Investments 41.60 110 47.80 11.10
Debt financing/disposal 2,708 2,110 2,057 633
Dividends paid -- 69.90 55.90 28
Other items -- -- -- --
Net in cash 12,061 8,636 8,111 5,821
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 77.30 77.30 69.90 69.90
Preference capital -- -- -- --
Reserves 2,950 2,625 1,905 1,641
Net worth 3,028 2,702 1,975 1,711
Minority interest
Debt 3,503 2,973 2,941 3,317
Deferred tax liabilities (net) 723 626 601 585
Total liabilities 7,233 6,294 5,516 5,616
Fixed assets 6,084 5,111 4,548 4,668
Intangible assets
Investments 45.80 438 119 80.30
Deferred tax asset (net) 306 314 334 325
Net working capital 163 (25) (57) 108
Inventories 690 624 590 561
Inventory Days 43.40 -- 42.90 44
Sundry debtors 268 257 236 202
Debtor days 16.80 -- 17.10 15.80
Other current assets 820 526 391 464
Sundry creditors (492) (434) (665) (427)
Creditor days 30.90 -- 48.40 33.50
Other current liabilities (1,123) (999) (608) (692)
Cash 634 456 573 435
Total assets 7,233 6,294 5,516 5,616
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 5,802 5,259 4,972 4,654 4,329
Excise Duty -- -- 167 633 583
Net Sales 5,802 5,259 4,805 4,021 3,746
Other Operating Income -- -- 48.90 -- 39.70
Other Income 85.30 80.40 128 98.40 49.80
Total Income 5,887 5,339 4,982 4,120 3,836
Total Expenditure ** 4,588 4,424 4,083 3,315 3,240
PBIDT 1,299 915 899 805 596
Interest 276 261 284 303 305
PBDT 1,022 654 615 503 291
Depreciation 288 241 231 217 197
Minority Interest Before NP -- -- -- -- --
Tax 171 104 94.10 70.40 38.80
Deferred Tax 79.80 45.10 3.49 43.20 --
Reported Profit After Tax 483 264 286 172 54.80
Minority Interest After NP (13) -- (4) -- (3)
Net Profit after Minority Interest 496 264 290 172 57.90
Extra-ordinary Items -- -- (13) (12) --
Adjusted Profit After Extra-ordinary item 496 264 302 184 57.90
EPS (Unit Curr.) 62.60 36.70 41.40 25.40 8.27
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 75 100 100 80 40
Equity 77.30 77.30 69.90 69.90 69.90
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(%) 22.40 17.40 18.70 20 15.90
PBDTM(%) 17.60 12.40 12.80 12.50 7.77
PATM(%) 8.33 5.01 5.94 4.28 1.46